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Discussion Starter #1




Who needs numbers anyway...


U.S. ends fiscal 2017 with $666 billion budget deficit

Shortfall is largest since 2013, sixth-highest on record


The fiscal year numbers come as President Donald Trump and congressional Republicans are pushing a tax cut that could add even more to the deficit: $1.5 trillion over 10 years. The Senate on Thursday night passed a budget bill that paves the way for tax cuts, but lawmakers haven’t released a tax bill yet.

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Discussion Starter #3
U.S. ends fiscal 2017 with $666 billion budget deficit

Shortfall is largest since 2013, sixth-highest on record

The US's national debt spiked $1 trillion in less than 6 months

As of the latest reporting by the Treasury Department, the US gross national debt rose by $41.5 billion on Thursday, February 22, to a grand total of $20.8 trillion.

Here's the thing: On September 7, 2017, five-and-a-half months ago, just before Congress suspended the debt ceiling, the gross national debt stood at $19.8 trillion.
The trillions fly by so fast these days, we can't even see them anymore. And afterwards we wonder: What was that? Where did it go?

Thanks Obama.
 

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Caretaker '11 GLK RWD, '04 C240 4matic- totaled, '92 500SL-sold, 95 320E-sold, 85 300TD-sold
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that's some $60,000 per capita

be interesting to see what happens when the debt holders want their money

you pay...you pay now!...
 

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U took the old religion from the woman on the hill.
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Dollar gonna have probs. Knaves think they can control world markets.
 

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This is the 21st Century and concern for deficits is a relic of an ignorant past. The consensus among today's best economists is that countries with the largest economies like the United States don't have to worry about accumulating debt because they can always grow their way out of it and they are simply too big to fail.


I certainly sleep better at night not caring about piddling shit like a $20 trillion hole in the foundation of our economy.
 

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Discussion Starter #14
The one legislative accomplishment of the Trump era continues to be a steaming pile of fiscal crap....


CBO projects booming deficits

This year's federal budget deficit will rise to $804 billion and is projected to nearly hit $1 trillion in 2019, largely because of the GOP tax cuts and the bipartisan $1.3 trillion spending package approved last month, according to updated projections released Monday by the Congressional Budget Office (CBO).

The $804 billion deficit this year would be a $139 billion increase over 2017, with the total representing 4 percent of gross domestic product (GDP).


In 2019, deficits would rise to $981 billion before peaking at 5.4 percent of GDP in 2022, according to the CBO's "Budget and Economic Outlook" report.

Deficits would hover around 5 percent through the end of the decade.

The debt burden, the total amount the government owes relative to the size of the economy, is projected to reach 96 percent of GDP by the end of the decade, its highest level since the end of World War II, the report said.

Higher deficits could lead to ballooning debt interest payments, a drop in capital stock and productivity, decreased fiscal flexibility in the event of a downturn and higher chances for a fiscal crisis, the report said.

“Congress has got some tough decisions to make about how to deal with this problem,” CBO Director Keith Hall told reporters.


So yeah, what do the freaking think tanks know about anything....



 

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do as I say not as I do
when a democratic president is in charge
then deficits will matter
marriage will be sacred again
etc
its all BS
 

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Discussion Starter #17





When Paul Ryan Said The US Had To Get Its Debt Under Control, He Didn’t Mean While He Was Speaker​


Washington D.C.—

Speaker of the House Paul Ryan recently made headlines by announcing his retirement from the House of Representatives, and his decision to not run for reelection has made Mr. Ryan unusually retrospective of his time as Speaker.

“I think I accomplished a lot,” said Ryan in a phone conversation. “Not in terms of number of bills passed into law, and not in terms of the size or scope of Republican legislation, but I think if you translate my accomplishments as Speaker into dollars given to already rich millionaires and billionaires, I may have gotten myself into the top-five of consequential Speakers of the House in US history. And, you know, I’ve heard some valid criticism in recent weeks that my crowning accomplishment—the tax bill—has added way more money to the deficit and debt than we said it would, but I think if we’re being fair I never explicitly said that Congress needed to get America’s debt problem under control while I was speaker. I was specifically vague about the timeline of the debt-solving.

We Republicans have only been explicitly focused on cutting the debt when a Democrat is in office, you know? And it’s because we as conservatives want to throw up at the thought of the government spending money on poor people. America’s poor people are the least morally deserving people in America of government attention. They are merely the most economically deserving people of governmental attention. There is a world of difference. And we Republicans have always been crystal clear that the debt is only a problem when a Democrat is president because Democrats are always trying to help the poor.

It’s like they have delusions of sainthood or something. It has always been GOP strategy to not let Democrats govern like Christians because they have theocratic tendencies that are totally out of whack. They govern like the New Testament, with stupid obsessions with charity and forgiveness, but every good Republican knows that the proper way to govern in the fashion of God is to govern according to the Old Testament, with values of judgement, vengeance, and absolutism on all social issues.

The New Testament is for the private sphere, and the Old Testament is for the public sphere. And that’s where the debt issue really comes into play.

Yeah, sure, we called Obama a communist while he cut the annual deficit down by a trillion dollars down to roughly $4.35 billion, and now our tax bill has skyrocketed the deficit immediately up past a trillion again and growing fast, but that’s the beauty of partisanship. We can just ignore the debt problem until the next Democrat takes over as President. Then it’s his or her fault. It’s all going according to our master plan.

We spent eight years telling Obama we couldn’t spend money on anything because of the debt, and when we took over we took all that tax money the government was actually making, and we gave it to rich people. That is starving the beast 101. Forcing the government to near-bankruptcy so we can force Democrats when they take over to cut the Christian-value programs they cherish.

That’s some Old Testament-style sabotage if you ask me. Jesus would approve, I think. I don’t actually read the New Testament. The thought of hanging around lepers and prostitutes is, like, really disturbing.”
 

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we control the money printer and inflation only affects the poor so its all good right?
 

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Discussion Starter #19
Congressional Budget Office’s Long-Term Deficit Forecast Dwarfs White House Estimate


Updated May 24, 2018 6:05 p.m. ET

WASHINGTON—The Congressional Budget Office estimates the government will take in $1.9 trillion less in revenue and spend $300 billion more over the next decade than the White House estimated under its latest budget proposal if the plan were enacted.

President Donald Trump in February proposed a $4.4 trillion budget that would boost federal spending for the military and border security, cut many domestic programs and projected deficits through the next decade. The proposal depends heavily on cuts to government safety-net programs and expectations of a big gain in economic growth.

Deficits would total $9.5 trillion over the coming decade, or $2.3 trillion more than the White House estimates, CBO said Thursday in an analysis of the President’s Budget.

According to CBO, Congress’s nonpartisan scorekeeper, the budget proposal will result in deficits in fiscal 2019 and 2020 that are slightly narrower than White House predictions, but deficits in 2027 and 2028 that are more than twice the White House’s estimates.

The main reason for the discrepancy between CBO’s and the White House’s analysis is a mismatch between their expectations of how the economy will perform.

“In particular, CBO projects wages and salaries after 2021 that are between 1% and 9% lower than the administration estimates,” the report said, adding that as a result, CBO’s estimates for revenues from individual income and payroll taxes are $1.2 trillion lower from 2019 to 2028 compared with the Trump administration.

Taken together, the CBO’s revenue estimates, based off the budget for the next decade, are 4% lower than the administration’s, and its spending projections are 1% higher. CBO’s estimate of net interest spending from fiscal 2019 to 2028 exceeds the administration’s by $417 billion, which it attributed to the higher cost of financing the cumulative deficits and higher projected interest rates.

According to the CBO’s estimate of the President’s Budget, the federal deficit would narrow from 3.9% of gross domestic product in the 2018 fiscal year to 3.6% of GDP in 2028. That would take the debt held by the public from 78% of GDP in the current fiscal year to 86% of GDP in 2028.


 

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we need either multi or franklin graham to explain what we're not getting here-

multi probably has more credibility
 
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