Biggest November deficit on record

[Ikari]

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.

You don't need the media to paint what Trump says in a negative light. Trump mostly does it to himself.

But I didn't hear this "deficit is on Congress" when Obama was in office...funny how the narrative changes. But generally speaking, yes the budget is set by Congress. And Congress has been controlled by the Republicans for two years and we have the highest deficit numbers. So much for that fiscal responsibility, lol. And Trump just wants MORE money to build walls and I don't suppose Space Force would be free either. President doesn't set the budget, but he can push policy and influence what Congress does end up funding.

Regardless, Republicans spend faster and bigger than Democrats it seems.

 

[Mycroft]

But I didn't hear this "deficit is on Congress" when Obama was in office...funny how the narrative changes. But generally speaking, yes the budget is set by Congress. And Congress has been controlled by the Republicans for two years and we have the highest deficit numbers. So much for that fiscal responsibility, lol. And Trump just wants MORE money to build walls and I don't suppose Space Force would be free either. President doesn't set the budget, but he can push policy and influence what Congress does end up funding.

Regardless your rhetoric, it's not about whether Reps or Dems spend more. It's about CONGRESS not caring enough to reduce spending. That's NEITHER Party.

But hey...since you want to make it about Party, tell me...what do you think the House Dems are going to do? Will they reduce spending?

I don't think so.

Oh...and about policy...what do you think is the most important duty of the government? I think it's national defense. You know...dealing with criminals coming across our border. Defending us and our allies. Etc.

 

[Mycroft]

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

What is he good for again?

You should probably ask the American working man that question. Congress might not care what Trump says...and we know the House will be caring a lot less next month...but the Main Street cares.

 

[Ikari]

Regardless your rhetoric, it's not about whether Reps or Dems spend more. It's about CONGRESS not caring enough to reduce spending. That's NEITHER Party.

But hey...since you want to make it about Party, tell me...what do you think the House Dems are going to do? Will they reduce spending?

I don't think so.

Oh...and about policy...what do you think is the most important duty of the government? I think it's national defense. You know...dealing with criminals coming across our border. Defending us and our allies. Etc.

Neither party will reduce spending. The Republocrats are not a "reduce spending" sort of party. The Republocrats are a Big Government, Big Corporation, Big War, Big Brother, Big Spending, Big Deficit sort of party.

As for government's most important duty? To preserve and proliferate the free exercise of the rights and liberties of the individual. Duh.

 

[Visbek]

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.

No surprise there.

Still, I generally prefer to stick to inflation-adjusted figures for full fiscal years. Single-month figures are a bit too variable to really be useful.

 

[PeteEU]

.

As for government's most important duty? To preserve and proliferate the free exercise of the rights and liberties of the individual. Duh.

Individual as in corporations right?

Sent from my Honor 8X using Tapatalk

 

[Airyaman]

You should probably ask the American working man that question. Congress might not care what Trump says...and we know the House will be caring a lot less next month...but the Main Street cares.

So what is he saying? That deficits are good? Or is he not talking about it?

Not sure what he is telling you vs what is reality. He has little to do with the present economy and job market. As you've heard, most presidents don't.

So what is he saying that is backed up by what he is doing?

 

[Mycroft]

Neither party will reduce spending. The Republocrats are not a "reduce spending" sort of party. The Republocrats are a Big Government, Big Corporation, Big War, Big Brother, Big Spending, Big Deficit sort of party.

As for government's most important duty? To preserve and proliferate the free exercise of the rights and liberties of the individual. Duh.

Thanks. You've moved away from "It's Republican's fault" to "It's Congress' fault".

 

[Airyaman]

No surprise there.

Still, I generally prefer to stick to inflation-adjusted figures for full fiscal years. Single-month figures are a bit too variable to really be useful.

They should be useful as a point in a trend. The trend presently is increased deficits. There is no indication in sight that the deficits will be tackled any time in the future.

 

[Ikari]

Individual as in corporations right?

Corporations are property, not people.

 

[Mycroft]

So what is he saying? That deficits are good? Or is he not talking about it?

Not sure what he is telling you vs what is reality. He has little to do with the present economy and job market. As you've heard, most presidents don't.

So what is he saying that is backed up by what he is doing?

I should have been clearer. I was responding to your question of what good is Trump. I should have said that Main Street cares "what Trump is doing".

And Trump has a LOT to do with the present economy and job market.

 

[Ikari]

Thanks. You've moved away from "It's Republican's fault" to "It's Congress' fault".

It's the Republocrats fault and the People's fault for allowing the Republocrats to exist in their current form.

 

[Mycroft]

It's the Republocrats fault and the People's fault for allowing the Republocrats to exist in their current form.

I agree.

 

[PeteEU]

Corporations are property, not people.

But but that is not what the GOP and SC says!!!..

 

[Mr Person]

Remember this any time you hear someone on the right complain about debt and deficits.

And don't let them get away with "but I am a real conservative; those swine in D.C. aren't!" After all, they vote for those guys.

 

[jonny5]

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

CBO says theyre up, but one month to one month last year doesnt matter as there are too many variables. Year to year, revenue keeps going up.

Total Receipts: Up by 3 Percent in the First Two Months of Fiscal Year 2019
Receipts totaled $458 billion during the first two months of fiscal year 2019, CBO estimates—$14 billion
more than during the same period last year.

https://www.cbo.gov/system/files?file=2018-12/54861-MBR.pdf

Revenue has increased by nearly a trillion since its peak before the recession. Spending has increased even more. We have a spending problem.

Revenue
2007 2,568.0
2008 2,524.0
2009 2,105.0
2010 2,162.7
2011 2,303.5
2012 2,450.0
2013 2,775.1
2014 3,021.5
2015 3,249.9
2016 3,268.0
2017 3,316.2

 

[jonny5]

Remember this any time you hear someone on the right complain about debt and deficits.

And don't let them get away with "but I am a real conservative; those swine in D.C. aren't!" After all, they vote for those guys.

And then do what? Elect democrats who ALSO dont care about deficits? Who do we elect if we actually do care about deficits?

 

[jonny5]

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".

Well no, he has a lot of lattitude once they actually appropriate the money to reduce spending within the agencies. They appropriate X dollars for X program, that doesnt mean it has to be spent.

 

[Mr Person]

And then do what? Elect democrats who ALSO dont care about deficits? Who do we elect if we actually do care about deficits?

Democrats who also don't care about deficits? Is this one of the counterfactual things where a poster looks at history and declares that the opposite of what it suggests must be true?

A deficit turned to a surplus under Clinton. A 1.4 trillion deficit was brought down into the four hundred of billions under Obama, which is still a lot but is a ****ton better than what what was handed to him. Meanwhile, deficits exploded under Reagan, Bush Sr, and now Trump.

As far as the track record would go, it would appear that however little one may wish to claim Democrats care about deficits, Republicans care far less. Naturally this is why they try so very hard to pretend they care. At least the Democrats aren't likely to cause our nation to borrow over a trillion a year in a good economy and give it to the richest.

 

[Mycroft]

Well no, he has a lot of lattitude once they actually appropriate the money to reduce spending within the agencies. They appropriate X dollars for X program, that doesnt mean it has to be spent.

If the law says they have to run a program, that's what Trump has to do.

If you want to reduce spending, you reduce the number of programs.

 

[Airyaman]

CBO says theyre up, but one month to one month last year doesnt matter as there are too many variables. Year to year, revenue keeps going up.



https://www.cbo.gov/system/files?file=2018-12/54861-MBR.pdf

Revenue has increased by nearly a trillion since its peak before the recession. Spending has increased even more. We have a spending problem.

Revenue
2007 2,568.0
2008 2,524.0
2009 2,105.0
2010 2,162.7
2011 2,303.5
2012 2,450.0
2013 2,775.1
2014 3,021.5
2015 3,249.9
2016 3,268.0
2017 3,316.2

But what of beyond 2017, with inflation?

Has Revenue Risen in 2018? | Committee for a Responsible Federal Budget

Nominal increases below the rate of inflation mean that the value of revenue collection has actually declined in real terms. By our estimate, total revenue over the time period in question has actually fallen by 1.3 percent after accounting for inflation in the last year. Measured relative to GDP – a sensible way to measure since a steady tax system would be expected to capture the same share of the economy year-after-year – we estimate revenue has fallen 3.8 percent. Finally, relative to the increases that had been expected from population growth, inflation, wage growth, structural elements of the tax code, and other factors, tax revenue is down by roughly 5.5 percent.

 

[JoanDavis]

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.

Gee according to the details provided, President Obama managed to reduce spending in 2009 and 2010. And didn't the republicans win the mid-terms in 2010? Notice how spending went back up in 2011 and every year since while the republicans controlled congress.

 

[Mycroft]

Gee according to the details provided, President Obama managed to reduce spending in 2009 and 2010. And didn't the republicans win the mid-terms in 2010? Notice how spending went back up in 2011 and every year since while the republicans controlled congress.

Obama didn't manage to reduce spending at all. In fact, he increased spending and then the Republicans forced him to reduce...a little bit. The result was gutting the military.

Don't forget about that nearly trillion dollar boondoggle Obama passed in 2009...you know..."shovel ready jobs" that ended up being "not so shovel ready". Guess what...we are still spending that trillion every year since...plus increases.

 

[SenorXm/Sirius]

Funny how for Obama's 8 years the Republicans and their Conservative media allies screamed that the debt and deficit was going to cause future generations terrible pain and destroy the country. But now with Trump they don't care, and the few that do care blame it on Congress.

News Flash!!!! The Republicans control Congress. A Congress that lowered taxes while the economy is doing good and keeps writing the DoD blank checks.

I guess because of their hypocrisy they believe the debt is only bad when there's (D) in the White House.

 

[jonny5]

Democrats who also don't care about deficits? Is this one of the counterfactual things where a poster looks at history and declares that the opposite of what it suggests must be true?

A deficit turned to a surplus under Clinton. A 1.4 trillion deficit was brought down into the four hundred of billions under Obama, which is still a lot but is a ****ton better than what what was handed to him. Meanwhile, deficits exploded under Reagan, Bush Sr, and now Trump.

As far as the track record would go, it would appear that however little one may wish to claim Democrats care about deficits, Republicans care far less. Naturally this is why they try so very hard to pretend they care. At least the Democrats aren't likely to cause our nation to borrow over a trillion a year in a good economy and give it to the richest.

Except you know full well that Republicans controlled the budget under Clinton, and democrats controlled the budget AND the white house when we hit record deficits in 2009. So long as you keep pretending they arent both just as bad, things we'll never change.