U.S. budget deficit to hit record $3.3 trillion this year, CBO says

[99percenter]

U.S. budget deficit to hit record $3.3 trillion this year, CBO says - MarketWatch

In comparison to the size of the economy, a measure most economists say better reflects the deficit’s fiscal burden, the 2020 deficit would be the largest since 1945, at 16.0% of Gross Domestic Product

Seriously, I miss the teabaggers right now. where are they?

 

[JasperL]

U.S. budget deficit to hit record $3.3 trillion this year, CBO says - MarketWatch

Seriously, I miss the teabaggers right now. where are they?

The fake right wing deficit scolds are scheduled to return whenever there's a Democrat in the WH again. It's amazing too how the supposed "centrist" deficit scolds are put on hold any time there's a Republican in office. If Biden wins, they'll be on the Sunday shows every other week, in a very bipartisan, non-ideological, rational centrist-like way of course, demanding drastic budget cuts, because the deficits will kill us all!!! Sorry grandma, but Medicare just isn't sustainable at this rate, and it's Democrats who need to do the heavy lifting of cutting benefits and killing grandma with death panels.

It's all so predictable it's sad.

 

[rahl]

U.S. budget deficit to hit record $3.3 trillion this year, CBO says - MarketWatch



Seriously, I miss the teabaggers right now. where are they?

To be fair, a good chunk of that deficit is directly related to the pandemic, the stimulus that was passed, as well as decreased revenues from the recession and high UE. Actual budget deficit prior to the pandemic is still irresponsibly high in relatively good economic times. But righties only care about deficits and debt when they aren't in power. When they are in power, the increase both orders of magnitude more than democrats.

 

[99percenter]

To be fair, a good chunk of that deficit is directly related to the pandemic, the stimulus that was passed, as well as decreased revenues from the recession and high UE. Actual budget deficit prior to the pandemic is still irresponsibly high in relatively good economic times. But righties only care about deficits and debt when they aren't in power. When they are in power, the increase both orders of magnitude more than democrats.

To be fair, it was a dem and this happened the gop would be bitching about deficits regardless.

 

[Dayton3]

U.S. budget deficit to hit record $3.3 trillion this year, CBO says - MarketWatch



Seriously, I miss the teabaggers right now. where are they?

Actually given the problems of the virus outbreak this isn't quite as bad as I feared.

 

[Exquisitor]

Actually given the problems of the virus outbreak this isn't quite as bad as I feared.

No, but their touted revenue was not keeping up with the deficit and a lending bubble is beginning to form.

 

[Exquisitor]

U.S. budget deficit to hit record $3.3 trillion this year, CBO says - MarketWatch

Seriously, I miss the teabaggers right now. where are they?

They're sucking the **** out of Trump's ***hole.

 

[Practical]

The spending is shocking. It's so much a person can hardly wrap their head around a number that large...it's a government number. They throw billions around like it isn't even real. Hell, the GAO can't even account for all of the money pissed away right now, they call it 'other' or 'unaccountable'. Hundreds of billions! One can ignore the laws of economics, but cannot ignore the results of ignoring the laws.

 

[CaughtInThe]

Fiscal conservatives. Invisible since 2016.

 

[Vadinho]

Remember the crowds dressed like revolutionary war figures waving Gadsen flags bleating and braying about the deficit under Obama? Where are they now? How about the sequestration fiasco or the debt ceiling standoffs? Not a peep from this brave crowd of fiscal conservatives, not a whimper either. But the second a Democrat assumes power, they will be out in full force to make sure that no more money goes to anyone that looks like them or prays like them or believes what they believe. It was never about fiscal responsibility anyway, that was a campaign slogan to hide racism.

 

[Mr Person]

If you voted federally for Republicans in the last few decades, you don't care about deficits.

 

[CaughtInThe]

The Tea Party and Q are many of the same people.

 

[mike2810]

The US govt. has been been running a deficit for years. The pandemic just added more on top of the debt. imo, the US has a spending problem.

 

[Dayton3]

The US govt. has been been running a deficit for years. The pandemic just added more on top of the debt. imo, the US has a spending problem.

driven by entitlement spending. Not sure why Americans believe we should be showering money on citizens who are no longer productive anyway. Sentimentality I guess.

 

[mike2810]

driven by entitlement spending. Not sure why Americans believe we should be showering money on citizens who are no longer productive anyway. Sentimentality I guess.

Pretty much agree. Congress loves to spend money they don't have. That goes for both Parties.

 

[99percenter]

driven by entitlement spending. Not sure why Americans believe we should be showering money on citizens who are no longer productive anyway. Sentimentality I guess.

Maybe because America is a compassionate country, that takes care of its elderly, its sick, its poor, its disabled, its women?

 

[Dayton3]

Maybe because America is a compassionate country, that takes care of its elderly, its sick, its poor, its disabled, its women?

Compassion is not a virtue if you can't afford it.

 

[99percenter]

Compassion is not a virtue if you can't afford it.

The richest country in the world can't take care of it's most vulnerable people? I disagree.

 

[Dayton3]

The richest country in the world can't take care of it's most vulnerable people? I disagree.

Not and get prepared for the next major war at the same time. Winning that one decisively I believe is of far, far greater importance than transferring money to people no longer productive anyway.

 

[CaughtInThe]

Did anyone in the country not expect things to go all to hell if Donald Trump became president? He leaves disaster in his wake everywhere he goes.

 

[CaughtInThe]

u.s. Budget deficit to hit record $3.3 trillion this year, cbo says - marketwatch



seriously, i miss the teabaggers right now. Where are they?

q....

 

[Dayton3]

Did anyone in the country not expect things to go all to hell if Donald Trump became president? He leaves disaster in his wake everywhere he goes.

Major exaggeration. Prior to the Covid-19 outbreak, the U.S. was doing just fine

 

[rahl]

Not and get prepared for the next major war at the same time. Winning that one decisively I believe is of far, far greater importance than transferring money to people no longer productive anyway.

We are not in danger of being invaded by any other country so we have no reason to be at war. We’ve not won a war since ww2 despite having been in 8 since then.

 

[Peter]

driven by entitlement spending. Not sure why Americans believe we should be showering money on citizens who are no longer productive anyway. Sentimentality I guess.

Who gets to say who's unproductive and what about people who become unemployed through no fault of their own and the local area just has no work?
Not everyone has the luxury or financial means to just move somewhere else so should they just be thrown onto the garbage heap because you've decided that the money just isn't available to help anymore?

Kids are unproductive for 20 odd years why not cut all funding for them?

 

[iguanaman]

The fake right wing deficit scolds are scheduled to return whenever there's a Democrat in the WH again. It's amazing too how the supposed "centrist" deficit scolds are put on hold any time there's a Republican in office. If Biden wins, they'll be on the Sunday shows every other week, in a very bipartisan, non-ideological, rational centrist-like way of course, demanding drastic budget cuts, because the deficits will kill us all!!! Sorry grandma, but Medicare just isn't sustainable at this rate, and it's Democrats who need to do the heavy lifting of cutting benefits and killing grandma with death panels.

It's all so predictable it's sad.

Or the Dems will ignore the doomsayers, raise the riches taxes and print more money. We have the presses to do that and there is virtually no inflation. Cheney was right. Deficits don't really matter. If they insist we pay down the debt there is always the wealth tax too. We probably could suck a trillion $ a year from the wealthiest nest eggs and they would not even feel it.