Budget Deficit Jumps Nearly 17% in 2018

[Exactice]

Revenue will get stronger if Dems don't take the House and kill the goose laying the golden eggs. Spending is still onerous, entitlements are a huge drain, and with interest rate hikes servicing the debt is going to get tougher. Something like 60-65% of our spending is mandatory so we don't have a lot of wiggle room.

Honestly. In my opinion I dont think its "Mandatory" We have become SO complacent that it HAS become Mandatory... But if we did a responsibility test....and put it to the public.... Guarantee the waist is BOTH top and bottom heavy...

We can see it.... the Funds we throw around needlessly. Continuity and Greed created the 60-65% mandatory budget. Let me be clear, LIFE IS NOT FAIR. I will never be a millionaire nor own a Ferrari... But that does not stop me from achieving the HIGHEST level I can. NOR will it stop me from potentially getting run over in a cross walk or getting cancer.

So deal with the CARDS given to you, Suck it up and make something out of what you got..... relying on others to pay your pay is NOT the American dream..... that white picket fence was not from collecting taxes..... it was from digging deep, panhandling for gold and growing crops SOMETHING recent generation and TOO good for......they want their Versace, Gucci, Lexus's and BMW's and will expect NO less while going further and further INTO debt....

 

[Media_Truth]

Nonsensical number jabberwocky. What comprises a "starting deficit" and an "ending deficit"?

If I have to explain it to you, you don't belong on this thread. I get it that Republicans such as yourself don't want such an entity to exist, because you have shown a total inability to manage it.

Clinton --- Starting deficit (260 Billion) ---- Ending deficit (-200 Billion, a surplus)
GW Bush --- Starting deficit (-200 Billion, a surplus) --- Ending deficit ($1.3 Trillion)
Obama --- Starting deficit ($1.3 Trillion) --- Ending deficit ($666 Billion)
Trump --- Starting deficit ($666 Billion) --- Current deficit (closing in on $1 Trillion)

 

[jdog21]

Funny how liberals on here are bashing republicans but yet your democratic leaders, Bernie Sanders and Kamala Harris are out there tweeting today that they want to expand Social Security and Medicare.
The biggest budget items driving the large deficits and increasing our national debt.

 

[Media_Truth]

Funny how liberals on here are bashing republicans but yet your democratic leaders, Bernie Sanders and Kamala Harris are out there tweeting today that they want to expand Social Security and Medicare.
The biggest budget items driving the large deficits and increasing our national debt.

Actually, a Single-Payer health care system would streamline US health care costs, as has been proven around the world. If implemented properly, it would decrease the deficit.

 

[jdog21]

If I have to explain it to you, you don't belong on this thread. I get it that Republicans such as yourself don't want such an entity to exist, because you have shown a total inability to manage it.

Clinton --- Starting deficit (260 Billion) ---- Ending deficit (-200 Billion, a surplus)
GW Bush --- Starting deficit (-200 Billion, a surplus) --- Ending deficit ($1.3 Trillion)
Obama --- Starting deficit ($1.3 Trillion) --- Ending deficit ($666 Billion)
Trump --- Starting deficit ($666 Billion) --- Current deficit (closing in on $1 Trillion)

Obama--- Starting debt ($9.99 Trillion) --- Ending debt (19.54 Trillion)

 

[jdog21]

Actually, a Single-Payer health care system would streamline US health care costs, as has been proven around the world. If implemented properly, it would decrease the deficit.

It increases the spending of the federal government which means larger deficits and larger national debt.

 

[Media_Truth]

Obama--- Starting debt ($9.99 Trillion) --- Ending debt (19.54 Trillion)

Sorry, your argument is out in Right Field. Study your history, and look at any deficit chart. GW Bush was in way over his head. His Administration was unfocused and lacking in understanding the breadth of what was occurring right in front of their eyes. Bush executed the worst presidential pass-on since the depression - a banking/housing crisis, 2 wars, a bankrupt US auto industry, CEO corruption gone amuck, a dwindling stock market, etc.

Facts are facts. The Bush $1.3 Trillion dollar deficit, turned over to Obama was the result. By the time Obama left office, this deficit was halved. Now it's deja vu. and Trump is skyrocketing the deficit back over $1 Trillion.

 

[MTAtech]

This is from the NYTimes article that was referenced in the original post that started this thread:

"Federal outlays increased for the fiscal year, but, because the economy grew at a faster pace than outlays did the previous year, they fell as a share of the economy, to 20.3 percent from 20.7 percent.

Federal revenues rose by 0.4 percent from fiscal year 2017. That was a slowdown from previous years. "

When you read the fake news NYT you need to turn the page and read deep into the article. Usually you can find where they tried to CYA

Claiming the NYT is fake news just means that you are a victim, whether you realize it or not, of Swampy's "real news that reports things that I don't like is fake," propaganda campaign. That's what would-be dictators do -- discredit legitimate news so that the dictator is the only source of information.

On the substance, federal revenues rise regardless of tax policy. That's why it’s important to correct for inflation and population growth, both of which tend to make revenues grow regardless. According to the Times article, revenues rose by 0.4%. That's a punny increase. Adjusting for inflation and population growth in 2016, Total Direct Revenue per capita in 2009 dollars was $9,069.50. In 2017, it was $8,976.50. (source).

As for, "Federal outlays increased for the fiscal year, but, because the economy grew at a faster pace than outlays did the previous year, they fell as a share of the economy, to 20.3 percent from 20.7 percent," it's no surprise that fractions have denominators. Either 20.3% or 20.7% are high by historical standards. In the 2000's federal outlays as a p% of GDP was about 18%.

 

[MTAtech]

Actually, a Single-Payer health care system would streamline US health care costs, as has been proven around the world. If implemented properly, it would decrease the deficit.

It increases the spending of the federal government which means larger deficits and larger national debt.

First, a single payer system is more efficient and therefore overall less expensive.

Second, everyone or their employer pay insurance costs. That stops under a single payer system. Taxes can be raised to cover the overall lower cost and we all would be winners. Why should I care that my taxes increase if I don't have to pay for health insurance premiums?

 

[jdog21]

Sorry, your argument is out in Right Field. Study your history, and look at any deficit chart. GW Bush was in way over his head. His Administration was unfocused and lacking in understanding the breadth of what was occurring right in front of their eyes. Bush executed the worst presidential pass-on since the depression - a banking/housing crisis, 2 wars, a bankrupt US auto industry, CEO corruption gone amuck, a dwindling stock market, etc.

Facts are facts. The Bush $1.3 Trillion dollar deficit, turned over to Obama was the result. By the time Obama left office, this deficit was halved. Now it's deja vu. and Trump is skyrocketing the deficit back over $1 Trillion.

Im not saying Bush did anything good. All im saying is you are looking at deficits which change yearly and the result of the deficits and the interest on previous debts add to the total of debt owed. What was owed at the start of Obama presidency and what was owed by the end his two terms was 9.55 Trillion, that's very substantial so lets not act like did great things for the national debt.

 

[jdog21]

First, a single payer system is more efficient and therefore overall less expensive.

Second, everyone or their employer pay insurance costs. That stops under a single payer system. Taxes can be raised to cover the overall lower cost and we all would be winners. Why should I care that my taxes increase if I don't have to pay for health insurance premiums?

That debate has been going on for a while, but just like medicare and Medicaid, we pay into it from our payroll taxes and so do the companies that employ us, and the amounts we pay is greatly less then the amount that's being spent to the recipients. For a single payer system it would have a be a balance budget item that taxes would increase along with inflation to keep up or you just adding to the national debt.

 

[MTAtech]

2009 was Bush's Budget that you are always trying to dump on Obama because bush crashed the economy and you don't want an R to take any responsibility for the trash they make. And then Obama did increase bailout spending that got the economy back on track and then worked on decreasing the deficit. Something republicans know absolutely nothing about.

Proof:
$1.2 trillion deficit looms
Last Updated: January 7, 2009

Obama's Inauguration Day: January 20, 2009

 

[Media_Truth]

Im not saying Bush did anything good. All im saying is you are looking at deficits which change yearly and the result of the deficits and the interest on previous debts add to the total of debt owed. What was owed at the start of Obama presidency and what was owed by the end his two terms was 9.55 Trillion, that's very substantial so lets not act like did great things for the national debt.

How can you talk about the Obama debt, without mentioning the horrific Bush handoff, the worst since the Great Depression.? You acknowledge the failures of the Bush Administration, then it should go without saying that it took a few years to correct those issues (Banking/Housing crisis, 2 Wars, Bankrupt US Auto Industry, CEO corrupion gone amuck, etc, etc.), after which time the deficit started plummeting..

 

[eohrnberger]

The federal government collected a record $1,683,537,000,000 in individual income taxes in fiscal 2018 (October 2017 through September 2018), according to the Monthly Treasury Statement released today.
https://www.cnsnews.com/news/articl...ollect-record-individual-income-taxes-fy-2018

Didn't we already learn from Kennedy that if you cut taxes, the economy will grow, and the government tax revenues go up? :roll:

The growing economy seems to be helping people.

American Credit Scores Hit a Record High - Bloomberg
https://www.bloomberg.com/news/articles/.../american-credit-scores-hit-a-new-high
Sep 24, 2018 - American Credit Scores Hit a Record High ... government-sponsored lenders (Fannie Mae and Freddie Mac), respectively. ... stagnant wages that haven't matched mushrooming corporate revenue. ... Total household debt hit a record $13.3 trillion in the second quarter, according to the Federal Reserve Bank of New York.
​

:clap:

No, Tax Cuts Are Not Driving Deficits — It's The Spending, Stupid ...
https://www.investors.com/politics/editorials/tax-cuts-deficits-spending-trump/
Sep 20, 2018 - Are President Trump's massive tax cuts what's driving federal deficits upward. ... In other words, despite Trump's massive tax cuts, federal revenues are running ...
​

Yeah, the federal government has a spending problem, a spending addiction, one that it can't tax it's way out of.
I think an intervention is warranted.

 

[Conservative]

Look who dropped by without his Econ 101 textbook. Again.

Noticed how radicals like you show up, make accusations, never back them up with data and then run when refuted. You have shown no ability to understand economics or basic civics, Not sure what economics 101 book you used but it certainly is a disappointment to any school that issued it and wrong

 

[Conservative]

see the article.

Why? Treasury data is like your bank account, accurate and what you base your decisions on, 114 gives you the actual FIT revenue collected, what part of that don't you understand and what part does your article refute?

 

[jdog21]

How can you talk about the Obama debt, without mentioning the horrific Bush handoff, the worst since the Great Depression.? You acknowledge the failures of the Bush Administration, then it should go without saying that it took a few years to correct those issues (Banking/Housing crisis, 2 Wars, Bankrupt US Auto Industry, CEO corrupion gone amuck, etc, etc.), after which time the deficit started plummeting..

The deficit that drop in rate from the initial 2008/2009 crash started after the republicans gain control over the house. And once they gained control over the senate they started the process known as sequestration. Notice how since they gained control federal government spending stayed flat around 3.5 Trillion. That along with the tax increase that Obama and democrats wanted.
Federal Government tax revenue
•FY 2017 - $3.32 trillion.
•FY 2016 - $3.27 trillion.
•FY 2015 - $3.25 trillion.
•FY 2014 - $3.02 trillion.
•FY 2013 - $2.77 trillion.
•FY 2012 - $2.45 trillion.
•FY 2011 - $2.30 trillion.
•FY 2010 - $2.16 trillion.
•FY 2009 - $2.10 trillion.

 

[Conservative]

There absolutely is such a thing as a "starting deficit". I get it that Republicans such as yourself don't want such an entity to exist, because you have shown a total inability to manage it.

Clinton --- Starting deficit (260 Billion) ---- Ending deficit (-200 Billion, a surplus)
GW Bush --- Starting deficit (-200 Billion, a surplus) --- Ending deficit ($1.3 Trillion)
Obama --- Starting deficit ($1.3 Trillion) --- Ending deficit ($666 Billion)
Trump --- Starting deficit ($666 Billion) --- Current deficit (closing in on $1 Trillion)

OMG, what the hell is a starting deficit? Where did you get those numbers? This has to be an act as no one is this poorly educated and informed. Deficits come off the yearly budget that starts in October and ends in September, Debt is what Presidents start with. Deficits are added to the debt so the 666 billion was added to the previous debt and the new budget started a new fiscal year. Stunning. You are making some teachers cringe and embarrassed with your posts

Debt to the Penny (Daily History Search Application)

Are you mature enough to admit when wrong?

 

[Conservative]

This guy is the biggest A**** on this forum. Nothing more than a totally partisan hack and shill.

Nice name calling, a partisan hack who is making you look like a fool as you continue to embarrass yourself with your posts

 

[Conservative]

If people like you are symbolic of the Republican Party, then call me a non-Republican. I would hate to think that any of my votes would align with yours.

And I truly would hate to admit what school I went to posting the garbage and false information that you are posting as you don't know the difference between deficit and debt. 666 billion was the deficit for Obama's last fiscal year, the new budget the beginning of a new year and the deficit at the end of the year. You have no clue what you are talking about

 

[Helix]

Why? Treasury data is like your bank account, accurate and what you base your decisions on, 114 gives you the actual FIT revenue collected, what part of that don't you understand and what part does your article refute?

awesome! i'll spend more, work for less, and put the rest on the credit card. somehow, magic will make it all work. Republican magic.














wait. i'm not rich.

 

[Eriech]

Claiming the NYT is fake news just means that you are a victim, whether you realize it or not, of Swampy's "real news that reports things that I don't like is fake," propaganda campaign. That's what would-be dictators do -- discredit legitimate news so that the dictator is the only source of information.

On the substance, federal revenues rise regardless of tax policy. That's why it’s important to correct for inflation and population growth, both of which tend to make revenues grow regardless. According to the Times article, revenues rose by 0.4%. That's a punny increase. Adjusting for inflation and population growth in 2016, Total Direct Revenue per capita in 2009 dollars was $9,069.50. In 2017, it was $8,976.50. (source).

As for, "Federal outlays increased for the fiscal year, but, because the economy grew at a faster pace than outlays did the previous year, they fell as a share of the economy, to 20.3 percent from 20.7 percent," it's no surprise that fractions have denominators. Either 20.3% or 20.7% are high by historical standards. In the 2000's federal outlays as a p% of GDP was about 18%.

I thought NYTIMES was fake back in the day when you had to read it with gloves and wash the news print off your face. Even then you had to discount the headline and and go to A6 to read for the truth which was there now and then.
If spending was usually 18% of GDP it should be a piece of cake in a growing economy to get it back.

Tax cuts are 3 quarters in. Patience grasshopper, 6 years to go.

Sent from my SM-G892A using Tapatalk

 

[Conservative]

Proof:
$1.2 trillion deficit looms
Last Updated: January 7, 2009

Obama's Inauguration Day: January 20, 2009

Read the fricken article

Housing collapse and financial turmoil leads to steep rise in estimated U.S. shortfall for '09

NEW YORK (CNNMoney.com) -- The U.S. budget deficit in 2009 is projected to spike to a record $1.2 trillion

In addition 350 billion of that PROJECTED deficit was TARP LOANS which were repaid, where did those repayments go? This truly has to be an act and you have to be paid to be posting this garbage,. Do you know the difference between actual and projected? Please post for me the signed and approved Bush budget for fiscal year 2009? You can't because there was NONE, Obama signed the 2009 budget in March and then recycled the 450 billion TARP repayments, 350 billion from Bush and 100 billion from Obama.

Reality sucks, doesn't it MTA?

 

[Conservative]

Didn't we already learn from Kennedy that if you cut taxes, the economy will grow, and the government tax revenues go up? :roll:

The growing economy seems to be helping people.

American Credit Scores Hit a Record High - Bloomberg
https://www.bloomberg.com/news/articles/.../american-credit-scores-hit-a-new-high
Sep 24, 2018 - American Credit Scores Hit a Record High ... government-sponsored lenders (Fannie Mae and Freddie Mac), respectively. ... stagnant wages that haven't matched mushrooming corporate revenue. ... Total household debt hit a record $13.3 trillion in the second quarter, according to the Federal Reserve Bank of New York.
​

:clap:

No, Tax Cuts Are Not Driving Deficits — It's The Spending, Stupid ...
https://www.investors.com/politics/editorials/tax-cuts-deficits-spending-trump/
Sep 20, 2018 - Are President Trump's massive tax cuts what's driving federal deficits upward. ... In other words, despite Trump's massive tax cuts, federal revenues are running ...
​

Yeah, the federal government has a spending problem, a spending addiction, one that it can't tax it's way out of.
I think an intervention is warranted.

Wish I could double or triple like this post which will be ignored by radials like Media and MTA

 

[Conservative]

awesome! i'll spend more, work for less, and put the rest on the credit card. somehow, magic will make it all work. Republican magic.












wait. i'm not rich.

What would be helpful would be a little honesty and recognizing that Treasury data trumps all articles and post 114 shows that 4 billion in FIT reduction cannot cause over 700 billion in deficits.