If Trump thinks he can get more than 3% economic growth, he's dreaming

Actually Trump has averaged 3.1% annualized growth over his first five full quarters as president. Obama in his last five full quarters only averaged 1.6% growth.

But, we don't care who gets the credit, we are just happy for the American People.

 

Funny how you own source totaly contradicts you.

Pensions : + 49 billion (outlays 2017->201
Healthcare -25 billion (funny you include this one)
Interest on the debt : +40 billion
https://www.usgovernmentdebt.us/federal_budget_detail


The rest :
Education -50billion
welfare/transport/gov : -10billion

Total : +30billion spending
Outlays the deficit drops to 440 billion as the economy grew.


Defecit will now be predicted to close to 800 billion or 360 billion of difference.

CBO says these are due to the trump trickle down II + GOP budget changes for 2018 .

 

Pensions 1,044.5 ....................... 1,404.4
Health Care 1,182.4 .................... 1,467.8
Interest 310.3 ......................... 618.5
Education 111.6 ..................... 95.9

 

Thats 2022

The comparison was before trump 2017 vs after trump/GOP changes 2018 .
Again entitlements barely cause a rise in the deficit. Yet it increased with several hundred billion, CBO says this is due to the trump/GOP changes.

Strange how you keep ignoring the facts that are in front of you.

 

You will see numbers change as the economy continues to grow and tax revenues increase. Right now we are top heavy on tax cuts without sufficient time for the full growth prompted by tax cuts and the tax revenues are yet to reach maturity

 

That is what I am saying, Bluesguy disagrees he claims the increases are due to entitlement programs like pensions and healthcare increases.

Nope its the trump tax changes and GOP budget changes.

And yes if the economy grows with 4% on top of the regular growth (to pay for the 150-200 billion less revenue/more expenditures) due to this tax cuts (so 5-6% annualy) then they will pay for themselves. I doubt the US economy will get close to 5-6% .

 

Pensions and healthcare are an ever growing problem but I'm just focusing on the tax breaks here.

 

YES..................DUH...............where the increases are going to be between then and now. Want to cut spending well there's where you start. So how do we do it?

 

I gave you where CBO says the biggest increases in spending are forecast. So if you want to limit or cut future spending you gotta cut where the spending is. So how do we do it?

Let me ask you what happened to tax revenue growth after the Gingrich/Kasich tax rate cuts and then the Bush43 tax rate cuts?

 

You know how it is, once they chug the kool-aid!

For eight years Barack Obama told Americans that inequality was a bigger problem than slow economic growth, that stagnant wages were the fault of the rich, and that government through regulation and politically directed credit could create prosperity. The result was slow growth, and secular stagnation was the intellectual attempt to explain that policy failure.

https://www.cnn.com/2018/07/27/politics/donald-trump-economy-trade-gdp-growth-credit/index.html

 

By 2022 , it was about this year.

THis year there barely is an increase besides what trump/GOP made into law.

You can keep ignoring this reality thats not going to change.

SO yes we need changes health care for example crazy high needs a massive reform to bring costs down, same goes for the trump tax cut for the rich thats crazy to implement and baloons the deficit that needs to go

 

Seeing how 2018 was predicted to be 440 billion and is now over 800 billion you have no clue how 2022 is going to look like.

Pointless discussion.

Reality is trump has almost doubled the deficit from 2017->2018 large part due to tax cuts for his friends and himself. If you actually wan to reduce deficit you cannnot also look at that.

 

Yes, both need reforms, yet that isnt the issue that is balooning the deficit this year.

Thats trump attempt at repeating what bush tried to do wih trickle down . It didnt work then to drasticly increse GDP growth I doubt it will do now.

TO pay for itself you need 4-5% EXTRA gdp growth every year .

 

To be honest , I do believe that obama is closer to reality then trump.

I dont think the tax cuts/trickle down II will be any good for the US. Oh yes it will give more profit to trump and his friends but thats not really what the US needs.

 

Those are the CBO projections and we are pulling in record revenues. Its spending that has to be curtailed and I gage you where the increases are the highest. So how do we cut that spending?

 

This year is just about done if we are going to cut spending and cut the deficit we have to look forward. And we are seeing record revenues and that will continue with the economic growth. Now how do you propose to limit the growth in SPENDING?

 

Of course despite the usual denial before the tax cuts were passed, it was clear to everyone that the tax cuts for the rich were planned to be paid for by spending cuts.

Maybe we should start with cuts to the monthly SS retirement checks to our resident Trump voters. That would show if they are willing to pay for the tax cuts for the rich out of their own pocket. My suspicion: They want to pay for them with someone else's money.

 

Well start with the trump tax cuts for his rich friends, according to CBO thats whats pushing up the deficit the next decade massively.

 

No that misconception is by those who do not understand economics.

That would be illegal. Try again.

 

Trump supporters are still struggling to tell the difference between a quarter and a year? Huh.

 

No. He hasn't. A quarter is not a year. That's like promising you'll get a 4.0 GPA and then declaring victory after getting an A in one class.

 

RW propaganda. Obama inherited a $1.4 trillion deficit and it was reduced by 2/3 during his term.

Remember when Republicans pretended they cared about deficits?

 

Both need reforms and both are part of the current equation but on the tax cut it needs to be given time to mature and for the full results to come in. We are already over 4% GDP which everyone said couldn't be done when Trump claimed he'd do it and economist are predicting even better numbers to come. We have had 5 and 6% GDP before and it could happen again.

 

Huh?
On January 20, 2009, when he was sworn in, the debt was $10.626 trillion. On January 20, 2017, when he left, it was $19.947 trillion

 

As usual, you are talking out of both sides of your mouth.