Feb Budget Deficit Largest on Record

A sign of deception; Answer a question with a question

Trump's cumulative receipts Feb 2017 - Jan 2018; $3.360 trillion

Trump's cumulative receipts Feb 2018 - Jan 2019; $3.309 trillion

Difference; MINUS $51 billion

Revenue growth rate; NEGATIVE 1.5% despite the fact more people are employed;

Total employed Jan 31st 2018; 154,482,000
Total employed Jan 31st 2019; 156,694,000

…..and despite the fact "we have a booming economy"

Next question; How can we pay rising bills with a NEGATIVE revenue growth rate?

 

it was slow, but it was still growth, steady and slow.

 

bs, too many jobs in the auto industry.

 

U.S. Debt to GDP

Claim; Trump reduced the Debt to GDP from nearly 110% to under 104%

My calculations;

Nominal GDP Dec 31st, 2016; $18.707
Nominal GDP Dec 31st, 2018; $20.501
Source; BEA

Debt to the penny
12/31/2018; $21,974,095,705,790.55
12/30/2016; $19,976,826,951,047.80
Source; Treasury Direct

Debt to GDP

12/31/2016; 106.7%
12/31/2018; 107.2%

--------------------

This source shows;

Highest Debt to GDP last 10 years; 105.26%
September 2018; 104.15%

https://www.macrotrends.net/1381/debt-to-gdp-ratio-historical-chart

This source shows;

Dec 31st, 2016; 103.569
Jun 30th, 2018; 104.153

https://www.longtermtrends.net/us-debt-to-gdp-ratios/

------------------------------------

...….from nearly 110% to under 104%????????????

Another exaggeration by a partisan sicko.....in an effort to glorify POTUS, of course.

 

The answer of course is to cut education and social security programs.

Duh




The above is sarcasm of course — there needs to be a unilateral attack on fraud in social programs and waste mainly in the defense budget along with eliminating tax breaks for the wealthy and ending loopholes for mega corporations. Taxing all income as income (ie capital gains) and a tax on stock trades would also be a huge source of income.

The trump tax cuts for the rich have once again proved that trickle down economics do not work.

 

So true. Unfortunately, the same people will vote for trickle down policies over and over and over again. Maybe the next time will be the charm. Oh, nevermind, by then the social programs WILL HAVE to be cut, because the unpaid for tax cuts have bankrupted the government.

 

It's my second largest market and my customers would have gladly picket up the market and expanded. They're expanding now to make up for GM's continued failure.
GM is NOT the auto industry and it was unfair to other manufacturers and other workers in the industry that Obama took tax payer money and subsidized GM and it's labor.

 

It should have been a recovery burst, a FULL recovery. Instead it was the worst in modern history with the worst unemployment in modern history

 

I just want to make the note that it is Congress who is responsible for the budget.. and neither party wanted to work with the President.

 

I don't accept the premise of your question, that presidents alone control the budget and the economy and everything that happens while they are president is due to them.
For instance the deficits for the 2008FY and 2009FY budgets. Why would you blame that on Bush simply because he was president at the time?

Instead how about from which party can we find more fiscal conservatives to elect to the Congress so we can once again have the surpluses of the late 1990's and at least the paltry deficits on the mid 2000's and try to bring some fiscal sanity back to the government. You sure aren't going to find it on the Democrat side.

 

Trump is trying to push through across the board spending reductions, his cabinet is working on even high numbers that he is talking about.

What do we keep hearing from the Democrat side? HUGELY more spending with no way to pay for it.

 

As posters from both sides of the political spectrum have said.. "gotta pay for that free stuff!" We criticize it and they lament that something might be taken away.
Wifey was noting how many deadbeats are being taken off of the food stamp rolls.. her particular example was people who are commonlaw married and the women claim to be single so as to get govt benefits. She from Mexico, as are the rest of her sibs, and they've never taken a thing from the Govt, they work way harder than I do .. and they have more to show for it! LOL They are the type of people Trump wants immigrating from Mexico.

 

cents of every dollar in revenue Uncle Sam collected in FY2018 will go to paying interest.

Guess what folks, my calculations were off by near 1%, however, my calculations clearly show Trump DID NOT reduce the Debt to GDP, and I was right!

FY 2019 budget - The White House

Table S-10, page 148....Federal government financing and debt

Gross Federal Debt as a percent of GDP

Actual 2017...….105.4%

https://www.whitehouse.gov/wp-content/uploads/2018/02/budget-fy2019.pdf

A Budget for a Better America - whitehouse.gov

Table S-10, page 138 Federal government financing and debt

Gross Federal Debt as a percent of GDP

Actual 2018...….106.1%
Estimate 2019....107%

https://www.whitehouse.gov/wp-content/uploads/2019/03/budget-fy2020.pdf

 

The graph shows that the effective tax rate was lower under Obama than all of the other Presidents. Do you know how high taxes were under Eisenhower and Clinton? That is why the deficits were so low. High taxes paid the bills.

 

2018-10-17 · President Donald Trump says he'll ask Cabinet to cut department budgets by 5 percent "We're going to ask every Cabinet secretary to cut 5 percent for next year," Trump said

QUESTION: What does "for next year" means?

BUDGET OF THE U. S. GOVERNMENT FOR FISCAL YEAR 2020 submitted March 2019

Table S-1 Budget Totals

Outlays

2018.....$4.109 trillion + 10.1% =
2019.....$4.529 trillion + 4.9% =
2020.....$4.746 trillion

https://www.whitehouse.gov/wp-content/uploads/2019/03/budget-fy2020.pdf/

 

Total expenditures;

FY1996
Requested by Clinton; $1.61 trillion
Actual; $1.56 trillion

FY1997
Requested by Clinton; $1.64 trillion
Actual; $1.60 trillion

FY1998
Requested by Clinton; $1.69 trillion
Actual; $1.65 trillion

FY1999
Requested by Clinton; $1.73 trillion
Actual; $1.70 trillion

FY2000
Requested by Clinton; $1.76 trillion
Actual; $1.78 trillion

NO SPENDING PROBLEMS, both REQUESTED and ACTUAL

October 17, 2018; "We're going to ask EVERY Cabinet secretary to cut 5 percent for next year," Trump said"

EVERY?????

BUDGET OF THE U. S. GOVERNMENT FOR FISCAL YEAR 2020 submitted March 2019; Trump proposed a record $4.75 trillion budget, and nearly 5% increase in military spending

NOTE: 2018-12-04; Trump said "Military spending is crazy high"

TALK, TALK, TALK

QUESTION: Today, do we have a spending problem?

ANSWER; We actually have two spending problems;

a. Trump, and
b. Congress

​

 

Quote: We actually have two spending problems;

a. Trump, and
b. Congress

Huuuuuuummm, I may have offended a few Trump supporters, what will be their response?

Here's a good one; "Yeah, but will Democrats do better?"

......what a lame line of defense

 

ford was helped in the past, chrysler too.

 

• should have, could have, et al.

 

Quote: Instead how about from which party can we find more fiscal conservatives to elect to the Congress so we can once again have the surpluses of the late 1990's and at least the paltry deficits on the mid 2000's and try to bring some fiscal sanity back to the government. You sure aren't going to find it on the Democrat side

Agree.

Total expenditures;

FY1996
Requested by Clinton; $1.61 trillion
Actual; $1.56 trillion

FY1997
Requested by Clinton; $1.64 trillion
Actual; $1.60 trillion

FY1998
Requested by Clinton; $1.69 trillion
Actual; $1.65 trillion

FY1999
Requested by Clinton; $1.73 trillion
Actual; $1.70 trillion

FY2000
Requested by Clinton; $1.76 trillion
Actual; $1.78 trillion

NO SPENDING PROBLEMS, both REQUESTED by the President, and ACTUAL

 

You are worried about the budget deficit? You are about ten years too late chief.

 

I agree with you in principle -- which means that we must (MUST) overhaul the U. S. Tax Code so that ALL the loopholes, shelters, exclusions, exemptions, deductions, "carried interest", and other write-off's are totally removed! Only then will everyone pay a "fair share" -- but that will never happen. Neither "Fat Cat" Republicans nor "Limousine Liberal" Democrats would ever support such a thing! Very strange that should be hearing this from someone like me -- a rock-solid, right-wing economic Conservative!

 

Yes we need more fiscal conservatives like Gingrich and Kasich who denied Clinton his spending request, as did the previous Democrat Congresses, and forced lower spending which along with the tax rate cuts, which got revenue increases back on track, and their welfare reform produced the budget surpluses.

"These frustrations have also plagued almost all recent presidents. Congress spent almost a half-trillion dollars of deficit spending above the requests of presidents from 1976 - 1993.
•
Bill Clinton, on the other hand, is the first president in over twenty years
who has outspent Congress
. During Clinton’s first two years, the 103rd
Congress spent $54 billion less than Clinton requested. The 104th Congress
spent $58 billion less than Clinton asked.
chrome-https://r.search.yahoo.com/_ylt=A2KLfSHaPJpcfMgA.0NXNyoA;_ylu=X3oDMTEyYmt2bm4wBGNvbG8DYmYxBHBvcwMxBHZ0aWQDQjY2MzFfMQRzZWMDc3I-/RV=2/RE=1553640795/RO=10/RU=https%3a%2f%2fwww.ipi.org%2fdocLib%2freagandf.pdf-OpenElement.pdf/RK=2/RS=DCbjcwXXRtiD3ndCmzmFM7nheao-

 

Yes it should have as history demonstrates, instead the Democrats engaged in their "trickle-up" failed stimulus.

 

In the way past and they should not have been, it's unfair to other auto manufacturers and other workers.