Is that the normal amount? But if that is the policy you seek, more government spending to increase GDP or using it to sustain it then I hope I will not find you attacking Trump or the Republicans on the deficits and debt. Markets and investment are spooked on the level of government spending and the deficits and debt being created. Alleviate that concern and investment will increase. Cut spending, get the government house in fiscal order.
PART 2 Once again, according to White House Budgets/OMB Summary tables, Table S-1, since 2016, the Deficit has increased by approx. 2% of GDP, thus, by approx. $420 billion, and/or from $585 billion to an estimated $1 trillion. What's the main reason of said SIGNIFICANT increase? Again, let's be honest; Yes, military spending has increased (since 2016, by approx. $75 billion), however, UNCLE SAM'S TRANSFER PAYMENTS have significantly increased; Transfer Payments....Definition; Money Uncle Sam disburses in people's pockets. 2016 Q2 Transfer Payments; $2.015 Trillion 2019 Q2 Transfer Payments; $2.330 Trillion An increase of $315 billion over three years (16%) https://fred.stlouisfed.org/series/B087RC1A027NBEA NOTES: In reference to GDP; a. Transfer Payments are not counted as government spending, thus, NOT a GDP component, HOWEVER, recipients will spend it on GOODS and SERVICES, and personal consumption is a GDP component. b. Government Spending is a GDP component, mainly procurements (GOODS), and salary (SERVICES). c. Interest Payments; Not a GDP component. STAY TUNED FOR PART 3
Oh how reassuring Democrats have no economic policies so let's elect them THAT'S the way to make sure the great economy we have continues.
I think if you are interested you could find several. But all I think would raise the top tax rate to somewhere around where they were under Kennedy which produce the maximum revenue per GDP. My favorite is uncle Joe's plan to make Medicare available to all. This would release billions of dollars into the economy.
Damn Federal Reserve, look at what they did to Bill Clinton...RAISED THE RATES SIX TIMES! Fed Funds Rate History with Its Highs, Lows, and Charts 1993: GDP = 2.8%, Unemployment = 5.5%, Inflation = 2.7%. Clinton took office in 1993. Fed made no changes. 1994: GDP = 4.0%, Unemployment = 5.5%, Inflation = 2.7% Feb 4 3.25% Fed raised rates to keep economy healthy. Mar 22 3.5% Apr 18 3.75% Conference call. May 17 4.25% Aug 16 4.75% Nov 15 5.5% Raised rates. 1995: GDP = 2.7%, Unemployment = 5.6%, Inflation = 2.5% Feb 1 6.0% Raised rates. https://www.thebalance.com/fed-funds-rate-history-highs-lows-3306135
But, according to Bluesguy, Clinton's 4% GDP nosedived to 2.7% BECAUSE; "In 1993, Clinton raised the top tax rate from 36% to 39.5%" I'll say it again; Partisan politics is the most common mental sickness in America.
First off, apologies. I thought you s Still better then the Republicans. Which isn't saying much. I'm pretty much at the eating popcorn and just watching the circus unfold stage.
And without excessive government spending what would it have been from 2008 to 2016?....you know, since govt spending helps gdp and all.....
Likely negative growth how bush left the economy. You understand the difference between a recession and what is supposed to be a healthy economy, yes?
I disagree that deficit spending is needed to properly fund the military and social programs. The govt takes in huge sums of money every year and squanders 10s of billions a year any number of programs. DoD could take a $100 billion a year haircut and still meet all obligations by streamlining administration, mostly on the civilian side, and by a complete re-write of the major acquisitions program. On the social programs side, the govt could save 10s of billions more every year by massively increasing the number of fraud investigators. Even with a $200k a year pay and benefits package, an average of 1000 new investigators per state would lead to massive savings and increased prosecutions.
Sounds like you're justifying excessive govt spending. Fiscal responsibility never was a characteristic of left leaning voters (or any politician right or left)
We have one of the best economies ever, record low unemployment numbers across the board, rising incomes, consumer spending strong, low inflation and you want to hand that over to the Democrats who don't even have any pro growth policies. Please explain that. What are the Democrats going to do better?
Bush and the Republicans handed the Democrats a strong economy, rising incomes, strong tax revenues and full employment when they lost the Congress to them in 2007 a year before the recession of 2008.
Yes GDP growth and tax revenue growth both slowed after his tax rate increases. He even had to admit it when during a Texas fund raiser he had to admit to doners , “Probably there are people in this room still mad at me at that budget because you think I raised your taxes too much. It might surprise you to know that I think I raised them too much, too.” It was Gingrich and Kasich who forced him to reverse course and sign their budgets and their tax cuts and their welfare reform that got the economy back on track and surged tax revenues and balanced the budget and produced the surpluses.
Me>> Bluesguy said: ↑ Oh how reassuring Democrats have no economic policies so let's elect them THAT'S the way to make sure the great economy we have continues. I think if they had any you'd be able to cite them. Not once in their debates has the issue even been raised. And if you are going to raise the rate to Kennedy rates then you will have to reinstate all the deductions and credits that were in effect. You ready to do that?
I believe we should have a balanced budget except times of national emergency. I would call a recession the size of the one in 2007-08 to fit that classification. During periods of growth we should be paying down debt, not exploding it further.
Republicans display a remarkable ability for selective memory. Obama was handed a trillion dollar deficit and a global economy in ruins. GDP crashed while unemployment skyrocketed. Without our safety net we would have sunk into the second Great Depression. Obama put the economy back on sound footing and handed it off to Trump. Trump gave massive tax cuts to millionaires and corporations, then ran the deficits back to over a trillion dollars annually and the fabled increase in government receipts failed to materialize. When Obama left office, GDP growth was steady at 2% and unemployment dropped under 5% and headed lower. Both sustainable numbers. Trump's prediction of GDP growth's of 5% even 6% are nonsense. Now that his much ballyhooed GDP figures have collapsed and unemployment has gone along the Obama curve, what has he accomplished, really? Corporations aren't flooding the borders to return manufacturing jobs to America. Government receipts haven't covered the deficits from tax cuts. All Trump has done is increase annual deficits from $560 billion under Obama to over $ trillion or more. Incompetent is too kind a word for Trump's economic prowess. What next? Nothing good, credit has expanded mightily and the economy is starting to get the shakes. By 2020 the economy won't be helping Republican election prospects. What will Dems do? Get back on the track Obama had us on.
Yes yes, the democrats caused a complete recession in less than a year and bush was completely innocent. Helpless even, just like trump. Hey, at least you are consistent
And solid, moderate growth is what we have. Unlike the Obama years where growth was at a snail’s pace.
