Nothing exclusive simply tracking FY 2018 debt progress

Discussion in 'Budget & Taxes' started by Ndividual, Nov 3, 2017.

  1. OldManOnFire

    OldManOnFire Well-Known Member

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    It won't make any difference which party controls what branch when it comes to debt and deficits. It has become unfathomable to reduce government spending with the goal of having annual surpluses! I can actually argue that the nation 'should' spend several trillion$ on our infrastructure and neighborhoods and health care and education, etc. all of which would be debt money. For every reduction of $100K in deficit spending we're talking about the loss of one job, so reducing spending by $500 billion is a loss of approximately 5 million jobs...good luck getting Americans to accept this. Government has proven year-over-year that deficit spending is now SOP...who needs an emergency or to invest in the future as an excuse for deficit spending? Like so many products and services that are no longer produced in the USA due to high costs, the cost of our governments (at all levels) is now too high...maybe we can consider some government outsourcing...
     
  2. 61falcon

    61falcon Well-Known Member

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    Our trade deficit with China for Jan-April of 2018 set a new all time high record of $119,050,900,000.If we are importing more we must be making less here at home despite lies to the contrary.
     
  3. Ndividual

    Ndividual Well-Known Member

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    Or we're simply selling less in terms of money abroad.
     
  4. OldManOnFire

    OldManOnFire Well-Known Member

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    In bold above not necessarily true. Trade imbalances are typically in certain products/nations, so while a nation might import 100% of their soybeans, they might also be exporting 100% of the world's kiwi consumption?? Something that dumb nuts never talks about is imports can be offset by exports, however, with a particular nation, perhaps the US has nothing to export? On the grand scale, it's fine with me if the US has a trade imbalance as long as the US maintains it's capabilities to mitigate any issues...for example the US should be able to produce all the food it needs but at the same time be able to accept imports...
     
  5. 61falcon

    61falcon Well-Known Member

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    Despite record tax revenue for the first 8 months of fiscal 2018(Oct!7 thruMay18)we have all run a record deficit well in excess of half a trillion.
     
  6. Ndividual

    Ndividual Well-Known Member

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    Yes, that's true, but the FY 2018 budget was projected by the OMB to produce an $863 billion deficit from the start. At the moment the deficit spending for FY 2018 is about $836 billion. Government does not budget based on means available, and for its own survival must make the majority feel they are getting more than they are paying for, and that applies to both the rich and the poor, leaving the middle class to be the primary source of discontent and division.
    As I see it, there exists no rationally acceptable solution. Much like an incurable, but treatable disease, all that can be done is prolong life until the inevitable death occurs.
    The debt on 06/14/2018 was $21,080,800,469,062.53
     
  7. OldManOnFire

    OldManOnFire Well-Known Member

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    This is precisely why when numb-nuts brags about the economy he created it's all BS because he is spending $1 to $1-1/2 TRILLION in deficit spending. FYI to some $1 to $1-1/2 TRILLION equates to 10 to 15 million jobs that are being created by deficit spending!!!! Deficit spending is fine IMO but only for an emergency or critical investment...and the US is doing neither of them. Therefore, deficit spending is now SOP, and most Americans could care less about the debt, because most Americans only care what's in it for them. The president, Congress and the Americans who support this BS are pathetic...
     
  8. Reiver

    Reiver Well-Known Member

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    Its fine in virtually all scenarios. Only overheating stands out!
     
  9. 61falcon

    61falcon Well-Known Member

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    We have record consumer debt for Education,Autos and personal Credit as well as record government debt at the same imeour congress is trelaxing lending standards and down payment requirements...….WHAT CAN POSSIBLY GO WRONG????Coming soon to a news broadcast on your TV!!!
     
  10. OldManOnFire

    OldManOnFire Well-Known Member

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    Debt should never be SOP...it should be used only when all other avenues are failing...and I'd say $1.5 trillion deficit spending this year and $22 trillion in debt is in your over-heating area...
     
  11. Reiver

    Reiver Well-Known Member

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    Comparing the government with our wallets is not good practice, given the importance of macroeconomic spillovers.

    To suggest that the US is overheating isn't credible.
     
  12. OldManOnFire

    OldManOnFire Well-Known Member

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    Debt is over-heating...
     
  13. Reiver

    Reiver Well-Known Member

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    No it isn't. Overheating reflects business cycle movements and inflationary problems.
     
  14. OldManOnFire

    OldManOnFire Well-Known Member

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    Over-heating is an increase in temperature or increase in actions. US debt is over-heated...
     
  15. Reiver

    Reiver Well-Known Member

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    Overheating refers to too much macroeconomic stimuli such that inflationary pressures cannot be controlled. Debt is not a problem at the moment.
     
  16. OldManOnFire

    OldManOnFire Well-Known Member

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    In the USA...it is absolutely our deficit spending, or debt, that is partially to blame for economic overheating. Go ahead and subtract our $22 trillion of debt from our economy and you will see whatever it is that lies beneath...
     
  17. Reiver

    Reiver Well-Known Member

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    There is currently no overheating. You don't have a point.
     
  18. OldManOnFire

    OldManOnFire Well-Known Member

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    Well...low unemployment, inflation, increased spending, stock market...
     
  19. Reiver

    Reiver Well-Known Member

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    It isn't difficult: what's the inflation rate? BIG CLUE!
     
  20. OldManOnFire

    OldManOnFire Well-Known Member

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    No matter the 'official' Trump inflation rate, fact is as a private citizen and business owner, cost of living and cost of doing business is out of control now!
     
  21. Reiver

    Reiver Well-Known Member

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    That is make believe. The problem isn't inflation, the problem is extreme inequality and failure of wages to keep up with productivity.
     
  22. OldManOnFire

    OldManOnFire Well-Known Member

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    Try again...I'm the one who owns a business, who has plenty of wage, yet my personal and business expenses are sky-rocketing...
     
  23. Reiver

    Reiver Well-Known Member

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    I also own a business. I just also know the correct definition of overheating.
     
  24. 61falcon

    61falcon Well-Known Member

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    Can best be described as spiraling out of control.
     
  25. Ndividual

    Ndividual Well-Known Member

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    FY 2017 ended on 09/29/2017 with our government reporting a total debt of $20,244,900,016,053.51


    FY 2018 Mo 01 debt now $20,442,473,549,889.39 a monthly change of $197,573,533,835.88
    FY 2018 Mo 02 debt now $20,590,391,942,312.26 a monthly change of $147,918,392,422.87
    FY 2018 Mo 03 debt now $20,492,746,546,193.75 a monthly change of −$97,645,396,118.51
    FY 2018 Mo 04 debt now $20,493,729,921,939.72 a monthly change of ...... $983,375,745.97
    FY 2018 Mo 05 debt now $20,855,671,542,905.95 a monthly change of $361,941,620,966.23
    FY 2018 Mo 06 debt now $21,089,642,954,195.85 a monthly change of $233,971,411,289.90
    FY 2018 Mo 07 debt now $21,068,200,197,433.39 a monthly change of −$21,442,756,762.46
    FY 2018 Mo 08 debt now $21,145,215,185,726.27 a monthly change of ..$77,014,988,292.88
    FY 2018 Mo 09 debt now $21,195,069,635,322.81 a monthly change of ..$49,854,449,596.54
     

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