Biggest November deficit on record

[Airyaman]

The federal government's deficit was $205B, the largest in recorded history. As a comparison, the deficit for Nov. and Dec. of last year was $202B. Receipts for the month were $206B, down 1% from the same month in 2017. It is the largest one month deficit in 6 years.

https://www.reuters.com/article/us-...205-billion-deficit-in-november-idUSKBN1OC2N9

I'm not sure, but I think I hear the Tea Party gathering as I type this...no, my mistake...those same people who protested Obama for several years are now attending Trump rallies yelling "lock her up" and "build the wall!". Obviously they never really cared about fiscal responsibility. I wonder why they were protesting Obama...

So we're at full employment and the economy appears to be doing well. What's the deal with the ever growing deficit, Retrumplicans? Donnie wants even more money for our military, where are you going to cut spending? Can't touch SS and Medicare, both are widely used by Fox News base audience. Guess you'll have to go after food stamps and welfare, eh? Or how about "waste, fraud, and abuse"?

But cutting is not going to get you very far. How are you going to increase government income? Another tax cut?

 

[ttwtt78640]

The federal government's deficit was $205B, the largest in recorded history. As a comparison, the deficit for Nov. and Dec. of last year was $202B. Receipts for the month were $206B, down 1% from the same month in 2017. It is the largest one month deficit in 6 years.

https://www.reuters.com/article/us-...205-billion-deficit-in-november-idUSKBN1OC2N9

I'm not sure, but I think I hear the Tea Party gathering as I type this...no, my mistake...those same people who protested Obama for several years are now attending Trump rallies yelling "lock her up" and "build the wall!". Obviously they never really cared about fiscal responsibility. I wonder why they were protesting Obama...

So we're at full employment and the economy appears to be doing well. What's the deal with the ever growing deficit, Retrumplicans? Donnie wants even more money for our military, where are you going to cut spending? Can't touch SS and Medicare, both are widely used by Fox News base audience. Guess you'll have to go after food stamps and welfare, eh? Or how about "waste, fraud, and abuse"?

But cutting is not going to get you very far. How are you going to increase government income? Another tax cut?

Fear not, Pelosi has all of the answers and will surely fix the federal 'budget' problems - we just have to pass it to see what's in it.

 

[Airyaman]

Fear not, Pelosi has all of the answers and will surely fix the federal 'budget' problems - we just have to pass it to see what's in it.

If there is one thing I expect Pelosi to ignore, it's the deficit. I think the number of federal politicians who care about spending can be counted on one hand.

 

[ElChupacabra]

If there is one thing I expect Pelosi to ignore, it's the deficit. I think the number of federal politicians who care about spending can be counted on one hand.

It's a hot potato people like to talk about when it's convenient, but ignore once it isn't.

 

[ttwtt78640]

It's a hot potato people like to talk about when it's convenient, but ignore once it isn't.

Yep, it's the political 'problem' which gets congress critters re-elected at a rate of over 90%.

 

[OrphanSlug]

The federal government's deficit was $205B, the largest in recorded history. As a comparison, the deficit for Nov. and Dec. of last year was $202B. Receipts for the month were $206B, down 1% from the same month in 2017. It is the largest one month deficit in 6 years.

https://www.reuters.com/article/us-...205-billion-deficit-in-november-idUSKBN1OC2N9

I'm not sure, but I think I hear the Tea Party gathering as I type this...no, my mistake...those same people who protested Obama for several years are now attending Trump rallies yelling "lock her up" and "build the wall!". Obviously they never really cared about fiscal responsibility. I wonder why they were protesting Obama...

So we're at full employment and the economy appears to be doing well. What's the deal with the ever growing deficit, Retrumplicans? Donnie wants even more money for our military, where are you going to cut spending? Can't touch SS and Medicare, both are widely used by Fox News base audience. Guess you'll have to go after food stamps and welfare, eh? Or how about "waste, fraud, and abuse"?

But cutting is not going to get you very far. How are you going to increase government income? Another tax cut?

This is going to sound awful, but I think that most voters are so used to the government running deficits that the *only* time it becomes important is when the party in the minority is complaining about it simply because they ran out of other topics to talk about.

Fiscal responsibility is one of those topics that is becoming a practical impossibility in the current political climate, our economic model dependent on government spending, what have you.

I doubt we will see protests, and even less noise from voters. If we see anything it will be a slow down in increases to the deficit year on year given the split Congress we are about to get.

 

[ElChupacabra]

Yep, it's the political 'problem' which gets congress critters re-elected at a rate of over 90%.

In essence it's debating over what we're going to financially mismanage: social programs, military spending, or tax cuts. Really trying to resolve it and cut back on spending means facing some very hard realities, and I don't think this country has the appetite for any kind of austerity measures.

 

[Ikari]

Fear not, Pelosi has all of the answers and will surely fix the federal 'budget' problems - we just have to pass it to see what's in it.

Likely not, but neither will the Republicans. I think we've seen that they have zero issue with massively increasing the deficit.

 

[Airyaman]

It's a hot potato people like to talk about when it's convenient, but ignore once it isn't.

Kasich was almost honest when he said both Republicans and Democrats like to spend, but that the Republicans feel guilty about it. Maybe back when he was in Congress, but today? They don't have a bit of remorse.

 

[ttwtt78640]

In essence it's debating over what we're going to financially mismanage: social programs, military spending, or tax cuts. Really trying to resolve it and cut back on spending means facing some very hard realities, and I don't think this country has the appetite for any kind of austerity measures.

At this point 1/3 of all 'discretionary' federal spending and almost 1/4 of total federal spending is placed on the national credit card. If 100% of non-defense, discretionary federal spending was cut then we would still have a federal deficit. To fix that (balance the federal 'budget') by raising individual federal income tax revenue (alone) would require about a 40% increase - obviously, mission impossible (political suicide).

As the wave of we "boomers" continue to retire, Social Security and Medicare spending will exceed the FICA payroll tax revenue and exhaust the "trust me" fund - making the 'borrow from future generations' (deficit spending) situation even more dire. I hope to be dead before Austerity Day because it will definitely not be a peaceful event.

 

[ttwtt78640]

Likely not, but neither will the Republicans. I think we've seen that they have zero issue with massively increasing the deficit.

Neither party is willing to commit political suicide and either stop raising federal spending or raise federal taxation to a level sufficient to cover it. So long as this results in a congressional re-election rate of over 90% then deficit spending is the politically correct 'budget' plan.

 

[haymarket]

A most special thanks to all the Republicans in Congress and right wingers who supported those massive Trump tax cuts on the rich and corporations. They are responsible for this.

 

[jonny5]

The federal government's deficit was $205B, the largest in recorded history. As a comparison, the deficit for Nov. and Dec. of last year was $202B. Receipts for the month were $206B, down 1% from the same month in 2017. It is the largest one month deficit in 6 years.

https://www.reuters.com/article/us-...205-billion-deficit-in-november-idUSKBN1OC2N9

I'm not sure, but I think I hear the Tea Party gathering as I type this...no, my mistake...those same people who protested Obama for several years are now attending Trump rallies yelling "lock her up" and "build the wall!". Obviously they never really cared about fiscal responsibility. I wonder why they were protesting Obama...

So we're at full employment and the economy appears to be doing well. What's the deal with the ever growing deficit, Retrumplicans? Donnie wants even more money for our military, where are you going to cut spending? Can't touch SS and Medicare, both are widely used by Fox News base audience. Guess you'll have to go after food stamps and welfare, eh? Or how about "waste, fraud, and abuse"?

But cutting is not going to get you very far. How are you going to increase government income? Another tax cut?

The tea party formed to oppose high taxes and bailouts. The deal with the ever growing deficits is the same as its always been. Excessive spending.

Revenue is up. Spending is way up. Social spending accounts for 75% of all spending. It seems logical to start cutting there where it would make a big impact. If you want solutions, there is about 60 here just for cutting.

https://www.cbo.gov/system/files?file=2018-12/54667-budgetoptions.pdf

 

[Mycroft]

The federal government's deficit was $205B, the largest in recorded history. As a comparison, the deficit for Nov. and Dec. of last year was $202B. Receipts for the month were $206B, down 1% from the same month in 2017. It is the largest one month deficit in 6 years.

https://www.reuters.com/article/us-...205-billion-deficit-in-november-idUSKBN1OC2N9

I'm not sure, but I think I hear the Tea Party gathering as I type this...no, my mistake...those same people who protested Obama for several years are now attending Trump rallies yelling "lock her up" and "build the wall!". Obviously they never really cared about fiscal responsibility. I wonder why they were protesting Obama...

So we're at full employment and the economy appears to be doing well. What's the deal with the ever growing deficit, Retrumplicans? Donnie wants even more money for our military, where are you going to cut spending? Can't touch SS and Medicare, both are widely used by Fox News base audience. Guess you'll have to go after food stamps and welfare, eh? Or how about "waste, fraud, and abuse"?

But cutting is not going to get you very far. How are you going to increase government income? Another tax cut?

LOL!!

As you can see from the responses, most forum members place the blame...unlike you...where it belongs: With BOTH Parties AND with the American people. I agree with them.

Sucks that your attempt to make this about Trump failed, eh?

Oh well...

 

[Airyaman]

The tea party formed to oppose high taxes and bailouts. The deal with the ever growing deficits is the same as its always been. Excessive spending.

Revenue is up. Spending is way up. Social spending accounts for 75% of all spending. It seems logical to start cutting there where it would make a big impact. If you want solutions, there is about 60 here just for cutting.

https://www.cbo.gov/system/files?file=2018-12/54667-budgetoptions.pdf

Revenue is up? Did you miss the part where it said receipts (revenue) was down 1% from last November?

 

[Airyaman]

LOL!!

As you can see from the responses, most forum members place the blame...unlike you...where it belongs: With BOTH Parties AND with the American people. I agree with them.

Sucks that your attempt to make this about Trump failed, eh?

Oh well...

Right now it is about Trump. Who has been in power since 2017?

 

[Crosscheck]

LOL!!

As you can see from the responses, most forum members place the blame...unlike you...where it belongs: With BOTH Parties AND with the American people. I agree with them.

Sucks that your attempt to make this about Trump failed, eh?

Oh well...

True, the deficit was started way before Trump set foot in the White House. But what has he done to nail it back?

When you are that far in debt it is going to be painful to correct it. There is no way around it is going to cause some pain.

I don't think his lavish lifestyle of every weekend down in Florida to play golf is any example of tightening the belt. Plus his mid term election campaign ploy of sending troops to the Mexico border paid by the taxpayers.

On the state level pork barrel spending by politicians is dismissed as simply supporting their constituents.


The politicians know that this is all going to come to a screaming halt but right now they are like an inner city riot in which the rioters are looting all they can carry away in their arms.

 

[Mycroft]

Who has been in power since 2017?

When it comes to spending, it's ALWAYS Congress.

The President can only affect what they send him.

Oh...wait...would you rather he threaten to shut down the government if they don't reduce spending? That's really the limit of his "power".

 

[Mycroft]

True, the deficit was started way before Trump set foot in the White House. But what has he done to nail it back?

I already addressed this with the OP. So what do YOU think Trump should do to get this nailed back?

When you are that far in debt it is going to be painful to correct it. There is no way around it is going to cause some pain.

Correct. It's going to be painful. Perhaps that's the real reason Congress doesn't want to deal with the issue?

I don't think his lavish lifestyle of every weekend down in Florida to play golf is any example of tightening the belt. Plus his mid term election campaign ploy of sending troops to the Mexico border paid by the taxpayers.

Hyperbole, lies and nonsense.

Trump doesn't play golf in Florida every weekend. Our Troops had a mission on the border and they accomplished their mission. That caravan mob is stuck in Tijuana.

On the state level pork barrel spending by politicians is dismissed as simply supporting their constituents.

All that is saying is that Congress thinks the American taxpayer's only purpose is to fund their piggybank. Again...Congress. Not Trump.


The politicians know that this is all going to come to a screaming halt but right now they are like an inner city riot in which the rioters are looting all they can carry away in their arms.[/QUOTE]

 

[Middle_Ground]

When you raise what you spend and cut what you take in of course deficits will balloon.
You know most of us understand in good times you put a little away for the not so good times. You don't cut your hours at work just when you get ahead a little, you keep plugging along and put some away.
I understood the Bush deficit we went to war, financial markets were running amok. Obama had to spend to keep us from falling further, that made sense.
Now what is the reason?

 

[Mycroft]

When you raise what you spend and cut what you take in of course deficits will balloon.
You know most of us understand in good times you put a little away for the not so good times. You don't cut your hours at work just when you get ahead a little, you keep plugging along and put some away.
I understood the Bush deficit we went to war, financial markets were running amok. Obama had to spend to keep us from falling further, that made sense.
Now what is the reason?

It's the same. The increases in spending that you mentioned didn't go away. We've just added to it every year. When new budgets are supposed to be enacted, Congress fails in its duty, takes last year's spending...tacks on an increase...and moves along.

They NEVER reduce spending.

 

[Airyaman]

When it comes to spending, it's ALWAYS Congress.

The President can only affect what they send him.

Oh...wait...would you rather he threaten to shut down the government if they don't reduce spending? That's really the limit of his "power".

The bully pulpit is also his power. Why did he not spend rally time talking about reducing our debt and deficit? He said he was going to have the debt paid off in 8 years and 2 years have gone by with an increase in the deficit. Why hasn't he been all over Congress to get spending under control?

 

[Ikari]

A most special thanks to all the Republicans in Congress and right wingers who supported those massive Trump tax cuts on the rich and corporations. They are responsible for this.

No, man. Cutting taxes on Corporations and the Rich makes...like money or something, and totally that trickles down. We're running a deficit because of things like medicare and welfare and healthcare. If only we don't give a **** about our fellow American and give the rich and corporations all they want, then everything is perfect. Poof.

 

[Mycroft]

The bully pulpit is also his power. Why did he not spend rally time talking about reducing our debt and deficit? He said he was going to have the debt paid off in 8 years and 2 years have gone by with an increase in the deficit. Why hasn't he been all over Congress to get spending under control?

Because nobody cares about his bully pulpit. Heck, every time he opens his mouth, the media is right there to paint whatever he says in the most negative light they can.

Sorry, but the deficit is on Congress.

 

[Airyaman]

Because nobody cares about his bully pulpit. Heck, every time he opens his mouth, the media is right there to paint whatever he says in the most negative light they can.

Sorry, but the deficit is on Congress.

OK...so no one cares what he says.

What is he good for again?