US budget deficit running 11.8% higher this year

[Kushinator]

France proved that wrong. so we can dismiss with that nonsense.

Claims made without proper citation fall on deaf ears.

No getting rid of billions of dollars in wasteful spending and re-organizing government agencies to be more efficient
and less fragmented will not reduce anything in the economy.

False.

The budget carries a deficit, which means financial capital is lent to the government in excess of it's tax revenue. You might have an argument if the economy was operating with a budget surplus.

it will actually improve government efficient lower waste and fraud.

Maybe. But it will lead to a dollar for dollar decline in GDP.

getting medicare and medicaid fraud under control would free up billions of dollars right there.

Cool story bro.

in 2017 the department of education got busted for 7 billion dollars in waste alone.
we don't need higher taxes that do nothing.

It isn't unreasonable to reduce fraud and waste along with growing revenue.

636 recommendations from bipartisan and nonpartisan sources including the Government Accountability Office, Congressional Budget Office (CBO), President Trump’s fiscal year (FY) 2019 budget, and former President Obama’s “Cuts, Consolidations, and Savings” budget recommendations.
Total savings from Prime Cuts 2018 are $429.8 billion in the first year and $3.1 trillion over five years.

Citizens Against Government Waste uses big numbers without detail.

we don't need higher taxes.

If the budget deficit is going to be addressed, it will require both tax increases and spending freezes.

 

[mrjurrs]

Increased debt service attributable to interest rate increases exceeded $120 Billion, comparing fiscal 2016 compared to fiscal 2019. Don't pretend the Fed raising interest rates ten times is not significantly responsible.


Do you realize you are arguing that he is right?


Forget balanced. How about one with no increases past inflation?

Do you see significantly higher inflation rates or unemployment numbers? The Fed is doing their job.

 

[mrjurrs]

Do you read your own citations? :doh:golf

Those are year to year increases, so they stack. Cheer up, though. You proved my point. :lamo

Uhhh, no he didn't.

 

[eman623]

The Trump tax cuts are adding to the deficits. So is Obamacare, which no longer even pretends to pay for itself. It's just now another eternal entitlement that costs about 100-200 billion each year.

But the biggest single source of future deficits over the next decade will be Social Security. SS taxes are no longer enough to cover payouts, and it's only going to get worse as the late baby boomers retire.

I expect in the upcoming debate, the Dem candidates will spend a lot of time discussing this. Nah, I'm kidding. It won't be mentioned. No one cares about deficits anymore. The problem has gotten too big and painful to solve.

 

[Kushinator]

Do you read your own citations?

You claimed interest rate increases caused $120+ billion in Federal interest outlays. While it is true that interest expense has increased by $135 billion from FY 2016 to FY 2019, the effective interest rate on all debt is roughly the same for these two periods of time.

October 2015 : interest rate on all federal debt - 2.4%

October 2019 : interest rate on all federal debt - 2.5%

In reality, an additional $4.35 trillion dollars in debt arose. You do the math.

 

[Taylor]

The Trump tax cuts are adding to the deficits. So is Obamacare, which no longer even pretends to pay for itself. It's just now another eternal entitlement that costs about 100-200 billion each year.

But the biggest single source of future deficits over the next decade will be Social Security. SS taxes are no longer enough to cover payouts, and it's only going to get worse as the late baby boomers retire.

I expect in the upcoming debate, the Dem candidates will spend a lot of time discussing this. Nah, I'm kidding. It won't be mentioned. No one cares about deficits anymore. The problem has gotten too big and painful to solve.

It's not SS it's Medicare that is the primary driver of the increasing deficit.

 

[rickc]

Deficit spending is only a problem when a democrat is in the white house.

Republicans never complained about bush's deficits or now with Trump's

Why republicans are called conservative boggles the mind

 

[Conservative]

US budget deficit running 11.8% higher this year

"The U.S. budget deficit through the first three months of this budget year is up 11.8% from the same period a year ago, putting the country on track to record its first $1 trillion deficit in eight years."

"The country has not experienced $1 trillion annual deficits since the period from 2009 through 2012 following the 2008 financial crisis."

————————————————

The Clinton Presidency was the last time there was a budget surplus.

Trump vowed to cut the national debt “very quickly”. Was he lying? Is the United States his next bankruptcy?

Trump promised to get rid of the deficit in 8 years. But it just topped $1 trillion for the first time since 2012. | Markets Insider

Any idea why? Income tax and Excise Tax revenue exceeded 2 trillion dollars to fund 1.47 trillion in discretionary spending. maybe you ought to do some research on the line items in the budget

It is amazing how Clinton added 1.4 trillion to the debt with that so called surplus. I cannot believe how poorly informed you are

 

[Conservative]

Deficit spending is only a problem when a democrat is in the white house.

Republicans never complained about bush's deficits or now with Trump's

Why republicans are called conservative boggles the mind

That is because most conservatives understand the deficit and debt whereas you don't have a clue

 

[eman623]

It's not SS it's Medicare that is the primary driver of the increasing deficit.

For now. Check back in 5-10 years. SS outlays are going to be driving huge deficits vary soon.

 

[Taylor]

For now. Check back in 5-10 years. SS outlays are going to be driving huge deficits vary soon.

Not like Medicare. Not even close.

 

[MauiMan]

Deficit spending is only a problem when a democrat is in the white house.

Republicans never complained about bush's deficits or now with Trump's

Why republicans are called conservative boggles the mind

BINGO!

You are correct. Remember the Tea Party and government shutdowns of debt ceiling?

 

[Michael Cole]

That is because most conservatives understand the deficit and debt whereas you don't have a clue

I see. So, conservatives understand their liberal ways, and don't care. Got it.

They surely have you fooled.

 

[Michael Cole]

BINGO!

You are correct. Remember the Tea Party and government shutdowns of debt ceiling?

The TEA Party was a joke. Taxed Enough Already. Thing is, at the time, the tax cuts from the stimulus package were the largest in history. About $700b IIRC.

 

[MTAtech]

I see. So, conservatives understand their liberal ways, and don't care. Got it.

They surely have you fooled.

When Democrats are in power, deficits matter. Not so when Republicans are in power.

 

[Michael Cole]

When Democrats are in power, deficits matter. Not so when Republicans are in power.

Yep. Who said that? Cheney, wasn't it?

 

[Kushinator]

When Democrats are in power, deficits matter. Not so when Republicans are in power.

It's referred to as weaponized Keynesianism.

 

[Kushinator]

Yep. Who said that? Cheney, wasn't it?

Cheney said "Reagan proved deficits don't matter".

 

[MauiMan]

Any idea why? Income tax and Excise Tax revenue exceeded 2 trillion dollars to fund 1.47 trillion in discretionary spending. maybe you ought to do some research on the line items in the budget

It is amazing how Clinton added 1.4 trillion to the debt with that so called surplus. I cannot believe how poorly informed you are

During the campaign, Trump said he would payoff the national debt in eight years. In fact, there does not appear to be any sort of Trump administration plan to reduce the debt — the last budget proposal it released was instead projected to add $7.2 trillion more to the debt over the next 10 years.

Check out the final Clinton years in this image, and note the only budget surplus in the last 80 years. Boy, those Democrats really spend too much!

 

[MauiMan]

The TEA Party was a joke. Taxed Enough Already. Thing is, at the time, the tax cuts from the stimulus package were the largest in history. About $700b IIRC.

The joke of the Tea Party has morphed into the joke of the Republican (Trumpian) Party. The Republican Party is now completely kowtowed to Trump. Nothing but pathetic suck-ups. They all need to go—every one of them! Vote Democrat in November!

 

[jpn]

We don't need a stimulus from the Fed. We need then to get out of the way.

Not now. Sometimes we do. It's worked pretty well for about 70 years.

 

[jpn]

That is because most conservatives understand the deficit and debt whereas you don't have a clue

Yes, conservatives understand that it's good politics for them to pretend to be all concerned about deficits when Democrats are in power.
And then when Republicans are in power to totally forget about deficits.
And then when Dem's are in power, pretend to be all concerned about deficits.
And then when Republicans...etc., etc., etc.

Reagan took the deficit from 70 billion to 175 billion.
Bush 41 took it to 300 billion.
Clinton got it to zero.
Bush 43 took it from 0 to 1.2 trillion.
Obama halved it to 600 billion.
Trump’s got it back to a trillion.

The thing is, debt isn't necessarily a bad thing, especially if it's being used to invest in America. But tax giveaways to the rich are just stupid and a measure of who the GOP really works for.

 

[Conservative]

During the campaign, Trump said he would payoff the national debt in eight years. In fact, there does not appear to be any sort of Trump administration plan to reduce the debt — the last budget proposal it released was instead projected to add $7.2 trillion more to the debt over the next 10 years.

Check out the final Clinton years in this image, and note the only budget surplus in the last 80 years. Boy, those Democrats really spend too much!

View attachment 67271796

look, getting tired of educating liberals like you only to be ignored, there are two parts of the budget, discretionary and mandatory. Discretionary is the smallest part and was 1.47 trillion for 2019, Revenue from discretionary taxes was over 2 trillion dollars so tell me how two trillion dollars in revenue to fund 1.47 trillion creates a deficit? You people need to get an education.

As for Trump's promises, you rely a lot on rhetoric but I prefer the return on investment taxpayers are getting and all the new jobs and state and local revenue being generated. Doubt seriously that you would understand that reality either. There is a lot of difference between the Obama deficit and Trump deficit, care to explain what we got out of the Obama deficits?

 

[Kushinator]

Revenue from discretionary taxes was over 2 trillion dollars so tell me how two trillion dollars in revenue to fund 1.47 trillion creates a deficit?

There's no such thing as discretionary taxes. You just made that term up in order to push your false narrative.

You people need to get an education.

Says the guy who doesn't understand reconciliation, inflation, basic statistical analysis, the English language, etc....

 

[Conservative]

Yes, conservatives understand that it's good politics for them to pretend to be all concerned about deficits when Democrats are in power.
And then when Republicans are in power to totally forget about deficits.
And then when Dem's are in power, pretend to be all concerned about deficits.
And then when Republicans...etc., etc., etc.

Reagan took the deficit from 70 billion to 175 billion.
Bush 41 took it to 300 billion.
Clinton got it to zero.
Bush 43 took it from 0 to 1.2 trillion.
Obama halved it to 600 billion.
Trump’s got it back to a trillion.

The thing is, debt isn't necessarily a bad thing, especially if it's being used to invest in America. But tax giveaways to the rich are just stupid and a measure of who the GOP really works for.

Do you understand the concept of RETURN ON INVESTMENT?? What did we get from the Obama debt, 6 million jobs, 4.2 trillion added to the debt, 9.3% U-6, 8% African American unemployment. Want to compare that to the Trump return? Of course you don't because partisan cult liberal followers only want people to think they care about others

Here is your problem, Reagan left us with debt at 52% of GDP

Bush left us at debt of 72% of GDP

Obama left us debt at 105% of GDP,

Don you get tired of being wrong?

Your liberal ideology makes you believe the gov't is giving money away with tax cuts, tax cuts allow people to KEEP MORE OF WHAT THEY EARN. Simple concept except to envious liberals