2019 will be Trump's second budget request and shows cuts, headed in the right direction. You see what you want to see but never answer direct questions what line items made up the 2018 deficit?
What difference does it make why both the 2017 and 2018 'budget' deficits were larger than that of 2016? The cause of the federal deficit is very basic indeed - total spending amounts exceed total revenue amounts. Under Trump, federal spending has increased more than federal revenue has and that is likely to continue to be the case.
Except like far too many you are ignoring what actually increased, was it Federal Discretionary spending or Federal Mandatory spending? Rising interest expense increased the debt service. To blame tax cuts on the deficit ignore the true cost of those deficits and the FACT that federal, state, local tax revenue all increased AFTER the tax cuts were implemented
You are simply ignoring basic reality - total federal spending is growing faster than total federal revenue is - thus the federal deficit is increasing. Spinning the nonsense that GDP (or revenue) growth makes spending more than revenue covers OK is not going to cut it. So long as federal spending is a greater percentage of GDP than federal revenue is then we will continue to have a federal deficit.
The answer then seems to be increase revenue to the federal govt. without understanding of the line items and making no cuts to those areas creating the deficit. There is no spin here, there is reality and when you have only about 1.2 trillion in discretionary spending including defense there is only one area to reduce and that is entitlement but no stomach to do that.
Spending as a percentage of GDP to me is irrelevant as we have a private sector economy not a govt. dominated economy. Why is that even relative today?
What there is "no stomach to do" is to tax enough to cover spending and the reason should be obvious - deficit spending gets congress critters re-elected at a rate of over 90%. To say that the private sector (still?) dominates ignores the fact that government (at all levels) spending is increasing and has exceeded that which can be sustained by taxation.
As you have correctly noted, current federal 'discretionary' spending is about $1.2T and growing of which about 2/3 ($.8T) is now 'covered' by borrowing from future generations. That 'budgeting' is simply not sustainable no matter how wonderful you see the "Trump bump" (the GDP growth rate?) as being.
If taxation cannot (or will not) be raised in times of extreme economic prosperity then when can (or will) it be?
And yet there is plenty of stomach to blame the President for what Congress will not do. The problem with Obama was his economic policies that were a failure, 842 billion spending stimulus that saw jobs lost and replaced with part time employees who pay less FIT and FICA.
The true Budget of the U.S. as defined by the Constitution is indeed sustainable but not what the Politicians created. They buy votes with all that bloated entitlement spending then blame the President for their own failures. The line items in the budget show exactly where the 2018 budget deficit was created, entitlement spending and debt service.
Allocating the actual tax revenue to its intended target would be the right move to make and then returning all Social programs to the state and local communities including healthcare, unemployment insurance, Medicaid. Make the states responsible for their own citizens and by reducing taxes on the American people for those items would give the states more leverage to raise their taxes to compensate for the increase in expenses. It is much easier however to blame someone else vs. take personal responsibilities.
You, as well as anyone else, can propose all manner of major federal policy changes but the fact remains that there is ZERO incentive for congress critters to alter doing what is, was and will continue to be getting them re-elected at a rate of over 90%. Only a fool would rock the political boat that keeps them afloat.
Making the states "responsible" (for a federal problem?) is that last thing on the minds of congress critters who easily get ever more billions of "free" federal spending sent directly into their states/districts.
Yes that is very true, the problem is the left wants to ignore those basic civics issues just like they ignore the true role of the Federal Govt. along with total lack of understanding of basic civics. they have been indoctrinated well by the politicians and support a political belief that all the problems in this country are to be cured by the Federal Govt. and taxing the rich more. Personal responsibility doesn't exist and not many understand where Congress gets its money and the more that goes to Congress the fewer dollars available in the states
You seem to be missing the point and have done nothing but blame Trump for the entire 2018 deficit without data to support your claims, data like the line items in the budget and what items are over budget and created the deficit. Suggest you find out or label yourself a liberal. Trump has cut what he has the authority to cut and submitted a budget with actual cuts, name for me another President that submitted actual cuts to the budget?
The disconnect is what Trump has proposed and done with budget and e executive branch budget which is ignored. The answer is term limitsWhat we now have is the party for a bigger federal government agreeing with the party for a huge federal government that deficit spending is a completely acceptable (even necessary?) 'budget' solution to allow increasing federal power and expense. You can pretend that if "the right" (republicants?) gain a majority in the Senate and House and also hold the White House then they will "balance the budget" but that is simply not the political reality.
Yes, tell that to those blaming him. He has cut the executive branch budget and proposed budget cutsTrump doesn't actually have the authority to cut anything. All he can do is submit a budget, and hope Congress acts.
Yes, tell that to those blaming him. He has cut the executive branch budget and proposed budget cuts
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The disconnect is what Trump has proposed and done with budget and e executive branch budget which is ignored. The answer is term limits
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Yes, tell that to those blaming him. He has cut the executive branch budget and proposed budget cuts
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Trump has increased federal discretionary spending. What a POTUS proposed is always different than what they sign into law.
Term limits simply create 'lame duck' office placeholders which are not likely to be any improvement. If you want a balanced budget then pass that as an amendment instead. Trump ran on lower taxes and increased spending - that is exactly what we got by the bills that he has signed.
Term limits simply create 'lame duck' office placeholders which are not likely to be any improvement. If you want a balanced budget then pass that as an amendment instead. Trump ran on lower taxes and increased spending - that is exactly what we got by the bills that he has signed.
You just said it in a nutshell. That equates to higher deficits. Did he campaign on that too? If so, he's sure living up to that campaign promise. Deficit will probably approach $1.5 Trillion next year.
Neither the party for a bigger federal government nor the party for a huge federal government is going to worry about balancing the federal 'budget' so long as their congress critters enjoy a re-election rate of over 90% by not doing so.
Because of inflation and growth silly. Do you think we are in a perpetual recession?Pretty simple question how do deficits grow when tax revenue increases?? Keep buying what you are being told. How about thinking for a change?
The revenue collected equals 16.3 percent of gross domestic product. That's the nation's measurement of economic output. That's like saying the average tax rate for the United States itself is 16.3 percent.
It's also much lower than the historical 19 percent target. But that's because the Trump administration cut taxes. It also estimates GDP will increase 3.2 percent in FY 2019. That's higher than the ideal growth rate.
Forecast? You do realize that is projection? Why is it that the federal government revenue has to grow and the American taxpayers have to go on a diet? Isn't it time for States and local governments to take over social responsibility which was the intent of our founders?Because of inflation and growth silly. Do you think we are in a perpetual recession?
Income Tax revenue for 2019 is forecast to be a measly 16.3% of GDP, the lowest number since forever. You were saying?
https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762
But it is the Republican party that has not had a President that left office with the deficit lower than when he came in. That is telling.
Measured against the population of the country, the federal government is now seven times bigger than it was when FDR started his third term.
Is it seven times better?
What are Americans getting for this massive increase in the federal government?
You just said it in a nutshell. That equates to higher deficits. Did he campaign on that too? If so, he's sure living up to that campaign promise. Deficit will probably approach $1.5 Trillion next year.
Forecast? You do realize that is projection? Why is it that the federal government revenue has to grow and the American taxpayers have to go on a diet? Isn't it time for States and local governments to take over social responsibility which was the intent of our founders?
You have been indoctrinated well by the left in promoting The Nanny state and federal social responsibility totally ignoring the true role of the Federal Government which is to provide for the common defense.
Where exactly does the state and local government get its money when more taxpayer dollars go to the federal bureaucrats? States cannot print money, the federal government can
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