Feb Budget Deficit Largest on Record

What matters most? It depends on who you ask!

Ask the big-rich of both political parties what matters most and they'll tell you that keeping all their hundreds of tax-writeoff's, tax loopholes, and tax shelters intact is what's most important to them -- along with unlimited amounts of virtually interest-free money from the Federal Reserve System's banking cartel.

Ask the eternally down-and-out-and-content-to-stay-that-way bottom-feeders and they'll tell you that the most important thing is just being able to go on getting more and more unlimited amounts of *FREE STUFF* from 'Uncle Sugar'!

And if you ask a lot of us in the MIDDLE, the most important thing for our well-being is forcing the rich to actually PAY their fair share, and, getting all the slag-ass parasites and bums among us OFF OF WELFARE!

 

Also, in reference to the fast-growing payment on the debt, there is nothing Trump/Congress can do about it......the Fed will decide how much interest tax payers will have to pay next year, and beyond.

 

Thanks to last years GDP growth, the best in 12 years, the Debt to GDP rate is flat over Trump's Presidency after climbing sharply during Obama's last two years in office.

 

We have record revenue, but I would agree with eliminating loopholes and making it a FAIR or FLAT Tax.

However, the real problem is not on the tax revenue side of the equation... WE SPEND TOO DAMN MUCH BY A MILE.

 

Democrats aren't going to support cutting spending or flatter taxes, and frankly the GOP's support is feigned. The best thing Trump can do is work to grow the economy and to bring in more tax money from foreign suppliers. It will likely work. After Debt to GDP rose sharply over Obama's last two years, Trump has held it flat over his presidency.

And is Trump's starting to see results on this new revenue stream into the Treasury from foreigners? Well. Have. A. Look. A. That!



He's doing a damn good job, give the man time to work!

 

Realistically, we both have a spending and a revenue problem, and most people don’t understand why.

 

And all those tariffs paid for by Americans.

 

Still trying to use the old chart I see.

 

We know. R's have always been the biggest spenders.
R prez's own the top spots post WW2 of the largest deficits.

 

Republicans increase the debt and deficits by orders of magnitude more than democrats.

Democrats certainly spend too much. But republicans spend MORE and they slash revenues on top of it. It’s absolute fiscal incompetence and why republicans should be barred from ever holding public office.

 

the debt was rising 1+ trillion a year before Bush passed it on to Obama and still is to this day... even under Trump... the trend started under Bush

 

So you still have no idea how bills become law? Lol

 

Which budgets were passed that bush wasn’t able to veto? Democrats haven’t controlled congress since 2010. What’s your excuse for the republican runaway spending over the last 9 years? Or when republicans controlled congress and the whites house from 2017-2019?

 

No they didn’t.

 

Because republicans tanked the economy leading to the worst recession in 80 years. Republican incompetence is expensive to clean up.

 

Quote; We have record revenues

Really?

Took me less than one minute to figure out that “as a percent of GDP”, we DO NOT have record revenues.

It was very easy; I already knew FY2018 revenues, and 2018 nominal GDP, and then, googled “TheBalance.com”.....U.S. government revenues by year/U.S. GDP by year.

Next, I already knew everyone paid more taxes in the late 50’s/prior Kennedy lowering taxes, thus, logically, here are the numbers I found;

1960 GDP nominal; $542 billion
FY1960 revenues; $93 billion
Revenue as a percent of GDP; 17.2%

Thus, near 2% higher than FY2018 revenues as a percent of GDP

REFUTE!

 

It is like watching a contortionist - except these are mind bending illogical contortions of the mind - trying to justify the unjustifiable.

 

This is the appropriate discussion, stop sidetracking the other discussion with your off topic derailments.

And No. It's better than 2014, though that was Obama's best year.

2018 was the best GDP year in 12.


And you're side tracking the discussion. Go to an appropriate topic, or start a new one if you wish to discuss this rather than this topic.

Trump has been President for 797 days, and over that period, the federal debt has increased by
$2,080,593,240,165.00

Obama over his last 797 days increased the Federal debt by
$2,093,621,809,820.96 in 2018 dollars, so Trump's debt growth is 0.6% less, in real terms than Obama's while Trump's real GDP growth is 65% better.

https://www.treasurydirect.gov/NP/d...tYear=2014&endMonth=03&endDay=28&endYear=2019

Stuff your projections. Nobody predicted that Trump's real debt growth would flat to Obama's while his GDP growth would be 65% better, and nobody "projected" that Trump's second year would be the best GDP growth year in 12.

 

from your chart, the rise in GDP started before Trump too office

 

I predicted all Trump’s shortfalls by using logic, and I also knew we would maintain the Debt to GDP at a certain level by using simple arithmetic

 

Record revenues... which means record tax collections. We don't need to tax anymore. WE HAVE A SPENDING PROBLEM.

 

Obama's last two years.

Trump's first 2 years.

The two together

Trump caught a falling knife, expertly flipped it, and by his second year laid down the best annual GDP growth in 12 years. There is simply no question that Trump is much better at this than Obama was.

 

There's very little difference between 2013, 2014 and 2018. Trump ran a huge deficit to get thst little extra growth. This year with the tax cut effect diminished, the economy will grow about 2%.

Obama was stopping a recession from turning into a depression. Trump's excuse is what?

You have no clue about what economists predicted. You're parroting propaganda.

 

Since most of the budget is entitlements and defense, what are you planning to cut?

 

First, as a percent of GDP, we don’t have record revenues, thus, stop parroting.


Second, I been using the word “realistically”,

we both have a spending and revenue problem

.....due to the fact; if we can’t implement the necessary spending cuts to restore Uncle Sam’s fiscal health, then obviously, we would have to increase revenues, and/or hope Trump’s economy will generate the needed revenues.