PF Exclusive: Debt increase in FY2015 lowest in 14 years

Well it's a government problem and which ever party has majority control of the government has the most power and when they have total control lots of power. And more and more I hope people are seeing the danger and it will be an issue in the election and then I want to see a real debate between both sides on what policies need to be instituted first get control of the deficit and spending and then what is the best way to increase tax revenues. Fewer and fewer tax payers paying higher and higher rates of more taxpayers all paying lower rates. And conversely you will have more and more people on government subsistence with the latter and more with the former, let's hear how both sides deal with the numbers out of the workforce.

 

Maybe you should go back and read some of my earlier posts before making such an accusation.

 

If it is a business, with products that serve other people and business, but none of the products successes impact the essentials needed by people, then you can simply construct a black and white budget which is balanced. You can cut everything that is not profitable and invest in other areas which are or will be profitable.

In a government, with products and services which might be essential for business and people, no matter the reasons for this, spending must navigate the needs of the people. In those cases where people need shelter, or food, or health care, or transportation, etc. and when this involves tens of millions of Americans, government cannot simply stop supporting them. My problem with our government is not so much the spending on things that actually benefit our citizens but the massive spending which does not benefit directly the needs of Americans...

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I'm responding to your current posts...

 

It will not be newsworthy until the total debt starts go down, consistently over a 4-year period minimum

 

Then you're telling me I shouldn't make an issue over the debt we're acquiring?

 

You're absolutely correct and THAT, is quite unlikely to happen. The debt does vary up and down slightly periodically when the revenue receipts exceed the spending, but like the 'PF Exclusive' it does not indicate anything at all like the OP attempted to imply, "This is great news for anyone who is concerned about the growth of the debt, that it has been turned around" as can be seen by the debt at the end of the first quarter of FY2016. Of course I would be willing to concede a turn around having begun IF at the end of FY2016 the total debt is less than that of the end of FY2015. Let's wait and see. Will I have to concede a debt turn around has occurred?

 

The Budget Deficit for 2016 Will Increase After Six Years of Decline

The 2016 deficit will be $544 billion, CBO estimates, $105 billion more than the deficit recorded last year (see Summary Table 1). At 2.9 percent of gross domestic product (GDP), the expected shortfall for 2016 will mark the first time that the deficit has risen in relation to the size of the economy since peaking at 9.8 percent in 2009. About $43 billion of this year’s increase in the deficit results from a shift in the timing of some payments that the government would ordinarily have made in fiscal year 2017, but that will instead be made in fiscal year 2016, because October 1, 2016—the first day of fiscal year 2017—falls on a weekend. If not for that shift, the projected deficit in 2016 would be $500 billion, or 2.7 percent of GDP.

The 2016 deficit that CBO currently projects is $130 billion higher than the one that the agency projected in August 2015. That increase is largely attributable to legislation enacted since August—in particular, the retroactive extension of a number of provisions that reduce corporate and individual income taxes.

The deficit projected by CBO would increase debt held by the public to 76 percent of GDP by the end of 2016, the agency estimates—about 2 percentage points higher than it was last year and higher than it has been since the years immediately following World War II

and...

Growing Deficits Are Projected to Drive Up Debt

In CBO’s baseline projections (which incorporate the assumption that current laws will generally remain the same), growth in spending—particularly for Social Security, health care, and interest payments on federal debt—outpaces growth in revenues over the coming 10 years. The budget deficit increases modestly through 2018 but then starts to rise more sharply, reaching $1.4 trillion in 2026. As a percentage of GDP, the deficit remains at roughly 2.9 percent through 2018, starts to rise, and reaches 4.9 percent by the end of the 10-year projection period. The projected cumulative deficit between 2017 and 2026 is $9.4 trillion.

The projected deficits would push debt held by the public up to 86 percent of GDP by the end of the 10-year period, a little more than twice the average over the past five decades. Beyond the 10-year period, if current laws remained in place, the pressures that had contributed to rising deficits during the baseline period would accelerate and push debt up even more sharply. Three decades from now, for instance, debt held by the public is projected to equal 155 percent of GDP, a higher percentage than any previously recorded in the United States.


IMO there is no way, including politics, to sugar-coat the dismal fiscal policy of the US over the past few decades. We have continued deficit spending when we have no national emergencies...deficit spending today is SOP. I'll also bet 95% of the American public does not know the current debt numbers, the annual interest payments, or the future risks associated with higher debt. There is no way possible for this to be a good situation...

 

The federal government was never meant to be the provider of things the citizens directly need other than the things expressed in the Constitution. The more the federal government takes it upon itself to declare these needs and then attempts to directly fulfill them guess what, the more needs some citizens want provided to them......for free.

And no you can't

Nothing Apple makes is an essential need of anyone and you can bet their budget is not a simple black and white construct.

 

Just an update of our debt situation relative to the OP.

...................Total Public Debt...............Monthly change......,,,,,,,,FY cumulative debt
09/30/2014 $17,824,071,380,733.82
09/30/2015 $18,150,604,277,750.63____________________+$326,532,897,016.81
10/30/2015 $18,152,981,685,747.52___+$2,364,019,263.19___+$2,364,019,263.19
11/30/2015 $18,827,322,966,908.80_+$674,341,281,161.28_+$676,705,300,424.47
12/31/2015 $18,922,179,009,420.89__+$94,856,042,512.09_+$771,561,342,936.56
01/29/2016 $19,012,827,698,417.93__+$90,648,688,997.04_+$862,210,031,933.60

Any wonder WHY neither the Media or Democrat politicians didn't present FY2015 debt as a turn around?

I'll concede a turn around has actually occurred if FY2016's debt is less than $18,477,137,174,767.44 which is unlikely to happen even if Obamacare was repealed this year.

 

Read dis...

National debt hits 19 trillion

 

OP"This is great news for anyone who is concerned about the growth of the debt, that it has been turned around. But we need to continue this trend. Unfortunately, with boomers retiring, spending pressure will continue. Much will depend on who wins the national election in 2016. If history is any portend, and a Republican takes office slashing tax revenues, we will see this trend reversed."

The actual trend FY2016:
........................Public held debt........Intergovernmental.......Total Public Debt.......Monthly change......Cumulative FY2016
FY2015 end 09/30/2015 13,123,847,198,347.81 5,026,770,468,136.52 18,150,617,666,484.33
FY2016 Mo1 10/30/2015 13,060,656,874,967.53 5,092,324,810,779.99 18,152,981,685,747.52 +2,364,019,263.19
FY2016 Mo2 11/30/2015 13,588,988,502,149.66 5,238,334,464,759.14 18,827,322,966,908.80 +674,341,281,161.28 +676,705,300,424.47
FY2016 Mo3 12/31/2015 13,672,522,257,291.59 5,249,656,752,129.30 18,922,179,009,420.89 +94,856,042,512.09 +771,561,342,936.56
FY2016 Mo4 01/29/2016 13,657,155,197,715.49 5,355,672,500,702.44 19,012,827,698,417.93 +90,648,688,997.04 +862,210,031,933.60
FY2016 Mo5 02/29/2016 13,785,189,234,310.03 5,340,265,823,115.77 19,125,455,057,425.80 +112,627,359,007.87 +974,837,390,941.47

 

6 months into FY2016...

........................Public held debt........Intergovernmental.......Total Public Debt.......Monthly change......Cumulative FY2016
FY2015 end 09/30/2015 13,123,847,198,347.81 5,026,770,468,136.52 18,150,617,666,484.33
FY2016 Mo1 10/30/2015 13,060,656,874,967.53 5,092,324,810,779.99 18,152,981,685,747.52 +2,364,019,263.19
FY2016 Mo2 11/30/2015 13,588,988,502,149.66 5,238,334,464,759.14 18,827,322,966,908.80 +674,341,281,161.28 +676,705,300,424.47
FY2016 Mo3 12/31/2015 13,672,522,257,291.59 5,249,656,752,129.30 18,922,179,009,420.89 +94,856,042,512.09 +771,561,342,936.56
FY2016 Mo4 01/29/2016 13,657,155,197,715.49 5,355,672,500,702.44 19,012,827,698,417.93 +90,648,688,997.04 +862,210,031,933.60
FY2016 Mo5 02/29/2016 13,785,189,234,310.03 5,340,265,823,115.77 19,125,455,057,425.80 +112,627,359,007.87 +974,837,390,941.47
FY2016 Mo6 03/31/2016 13,924,877,638,956.82 5,340,060,980,686.25 19,264,938,619,643.07 +139,483,562,217.27 +1,114,320,953,158.74

 

You have your numbers in the wrong place, 13 trillion is public debt and 5 trillion is government.

 

The column headings are shifted to the left, but their order is correct.

FY2016 Mo6 03/31/2016
Public held debt $13,924,877,638,956.82
Intergovernmental $5,340,060,980,686.25
Total Public Debt $19,264,938,619,643.07
Monthly change +$139,483,562,217.27
Cumulative FY2016 +$1,114,320,953,158.74

 

Why would anyone celebrate this? We need larger deficits.

 

It would be a wonderful thing if we could paste in spreadsheets and other tables and retain formatting

 

I agree.

 

Of course we can, either or both.

 

Key words, 'debt increase'.

 

Horrible news.

 

Another PF exclusive? The debt decreased by $77,551,135,659.70 but we still have 5 months to go.


FY2016 Mo7 04/29/2016
Public held debt $13,841,194,733,299.04
Intergovernmental $5,346,192,750,684.33
Total Public Debt $19,187,387,483,983.37
Monthly change -$77,551,135,659.70
Cumulative FY2016 +$1,036,769,817,499.04

 

Yep just look at what it did after 2007 when the Democrats took control of the budget to 2015 when the Republicans took over and now this lowest figure since 2001.

 

Bush tax cuts for the rich, two 10+ year wars and the economy crashing is why the debt went up

 

Spun from the Left....................Truth....................Spun from the Right

If only we could agree on the truth, we might then be able to define and solve some problems rationally.

 

The rich paid HUGELY more in tax revenues and a bigger share of taxes so what is your complaint. That the special appropriation for the wars in 2007 wa $70B add that to the budget deficit of $161B and you get $231B which in just two years the Democrats took to $1,400B and kept it over $1,000B WITH THE WARS ENDED. So spare me it was the wars nonsense, they never even came close to the WORST Republican deficits.