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Utopia Talk / Politics / Historic US deficits - good job Repubs
Hrothgar
Member
Mon Apr 09 18:41:28
https://www.reuters.com/article/us-usa-fiscal-deficit/republican-tax-cuts-to-fuel-historic-u-s-deficits-cbo-idUSKBN1HG2RW

WHO KNEW!?? WHO COULD HAVE FORESEEN THIS BUILDING CATASTROPHE!??

Rugian
Member
Mon Apr 09 19:12:57
Public debt will be 100% of GDP by 2028. God damn.
Hot Rod
Revved Up
Mon Apr 09 20:47:50

It is not all the republicans fault.

Where have you been while Obama ran up $10 Billion of debt to double the debt?

Hot Rod
Revved Up
Mon Apr 09 20:52:42

It is not all the republicans fault.

Where have you been while Obama ran up $10 Billion of debt to double the debt?

Hot Rod
Revved Up
Mon Apr 09 20:53:03

sorry.

CrownRoyal
Member
Mon Apr 09 21:18:57


Trump Trillion-Dollar Budget Deficits Officially Begin This Week

The new U.S. normal of $1 trillion or more annual federal budget deficits will officially begin this week when the Congressional Budget Office releases its economic and budget outlook report showing that the deficit will be at least that high every year Donald Trump is president.

Although there have been private sector projections for months (including my post from last October) that the government's red ink will hit and exceed a trillion dollars for years to come, this will be the first report by Congress's official budget watchdog since last year's big tax cut and this year's spending deal were enacted that will show the deficit rising precipitously and staying at that very high level through the next ten years.

The official CBO projections are likely to be lower than the budget deficits that actually occur. CBO's report is based on current law and makes no political judgements about what Congress and the president will do in the future. That means the deficit projections will be based on the presumption that the tax cuts enacted last year that currently phase out will in fact end. That means the CBO forecast will assume that future revenues will be higher and the deficit lower compared to what is likely to occur.


The same is true for spending. For this report, the Congressional Budget Office doesn't presume that any of the reductions proposed in the Trump 2019 budget will be enacted. That will increase the deficit outlook compared to what the White House will say it will be.

For the record (and before the trolls come out to play), there were indeed four consecutive trillion-dollar federal deficits during the Obama administration from fiscal 2009-12. Those deficits were primarily caused by the Great Recession and were temporary. By contrast, the trillion-dollar Trump deficits are permanent changes to the federal budget outlook caused by enacted reductions in revenues and increases in spending.

The Trump deficits assume a relatively high level of economic growth. If the economic outlook doesn't turn out to be as rosy as the White House is promising, the very high Trump-era federal budget deficits will be even higher.
Cont

https://www.forbes.com/sites/stancollender/2018/04/08/trump-trillion-dollar-budget-deficits-officially-begin-this-week/#20572f2c3365
CrownRoyal
Member
Mon Apr 09 21:21:01
Great job as usual, by Republicans. Last 40 years, since Reagan, every GOP president left the WH with larger budget deficit, and every Democrat left with smaller budget deficit than he inherited.
Sam Adams
Member
Mon Apr 09 21:23:56
While the repub spending is much the same as the dem spending- the repubs said they were not going to.

Filthy liars. Repubs are so fucked in the midterms. This is gonna be as bad if not worse than obamas midterms.
patom
Member
Mon Apr 09 21:51:58
"It is not all the republicans fault.

Where have you been while Obama ran up $10 Billion of debt to double the debt?"

Well it seems that the Twitterman claimed all the credit for digging the country out of the worst recession in its history and the credit for all the employment gains since Bush left office. Why do you want to not accept any responsibility for anything negative?
Hot Rod
Revved Up
Mon Apr 09 21:58:46

You do know that all Trump got out of this latest payout, don't you? The military budget that was a no-brainer and was something that the demonrats should have voted for too.

Meanwhile, the demonrats got buried in all of the extras they could possibly ask for, including funding for the baby murder machine.

Y2A
Member
Mon Apr 09 22:06:05
"This is gonna be as bad if not worse than obamas midterms."

Doubt it, Obama had massive coattails in 2008 unlike Clown (which he squandered). The tea party 2010 mid terms got +63, with all the gerrymandering and lack of excess seats sites like Sabato Crystal Ball don't have anywhere near that though +30 seems possible.
Dukhat
Member
Tue Apr 10 00:35:05
It will be around 45 seats according to my spreadsheet with a big possibility for more. Every Dem wins except for McCaskill and Dems take Nevada, Arizona, and Tennessee. Hoping Claire can eke out a victory though, but dumb white voters seem enthralled with Trump still and Missouri is basically all working class whites. Still time for them to finally bail on the orange retard.
tumbleweed
the wanderer
Tue Apr 10 01:25:05
"Where have you been while Obama ran up $10 Billion of debt to double the debt? "


Obama LOWERED the deficit... Bush drove the economy off a cliff handing Obama a terrible deficit... now Trump has to do opposite of Obama and raise it

2009 $1,413 billion
2010 $1,294 b
2011 $1,295 b
2012 $1,087 b
2013 $679 b
2014 $485 b
2015 $438 b
2016 $585 b
2017 $665 b
2018 $833 b (estimate)

http://www.usgovernmentdebt.us/us_deficit
yankeessuck123
Member
Tue Apr 10 03:12:31
"The military budget that was a no-brainer"

No brainer indeed. We already had the largest military budget in the world by an enormous margin. How much will be enough to make everyone feel safe? One suspects the number is infinite.
Forwyn
Member
Tue Apr 10 03:16:49
Jesus fucking Christ. A record increase to the DoD budget was a no-brainer?
hood
Member
Tue Apr 10 03:44:51
You have to understand, this is rod. Everything is a no-brainer to him. He clearly has a hollow skull.
Hot Rod
Revved Up
Tue Apr 10 04:22:51

Don't you guys get the news where you are?

There are plane crashes and ship collisions all over the military because they don't have the money for proper repair and training.

yankeessuck123
Member
Tue Apr 10 10:39:52
Are other countries crashing and generally fucking up all the time on military exercises, in the light of their apparently low military budgets? Well, no.
jergul
large member
Tue Apr 10 10:58:41
Thankfully, Trump tanked the stockmarket, so interest rate increases will have to be put on hold.

The deficit does not matter for as long as servicing costs are lower than inflation.
Nimatzo
iChihuaha
Tue Apr 10 11:10:01
No brain*

*Fixed.
Forwyn
Member
Tue Apr 10 12:15:38
Plenty of money to build natural gas stations in Afghanistan and ship pallets of cash to Iraq to disappear.
Y2A
Member
Tue Apr 10 23:25:34
"It will be around 45 seats"

I'm talking about the house.
Dukhat
Member
Wed Apr 11 03:31:12
I was saying 45 seat flip in house and 2 seat flip in senate. Maybe 3 if mckaskill can win.

Big chance of even more seats flipping given all the things on trump's plate. House is gone. Arizona and nevada is gone. That already puts dems in majority in senate. Tennessee leans dem atm according to recent polling and maybe mckaskill can eke it out.

If economy tanks, it will be a tsunami not a wave with a lot more surprises. My hot take is that ted cruz loses if this trade war escalates. Texas is massively pro trade and has a lot of hispanic that don't normally vote.
Daemon
Member
Wed Apr 11 04:20:43
Meanwhile in Germany:

http://www...ebt-falls-60-percent-gdp-2019/
...
German public debt melts faster than it was supposed to, as the Finance Minister Olaf Scholz expects the debt to GDP ratio to fall to just over 58% of Gross Domestic Product (GDP) in 2019.
... according to the new forecast, the debt will fall to just below 56% in 2020, and in 2021 it is expected to fall to 53% of GDP.
...
Hot Rod
Revved Up
Wed Apr 11 06:21:17

"My hot take is that ted cruz loses if this trade war escalates."


China has already agreed to lower their tariffs considerably.

Cold Rod
Member
Wed Apr 11 06:26:09
They did not agree. That said it was a "promise" and if you believe that you're pretty good damn 'hot rod.'

Oh wait....my bad. Hi there hot rod.
Daemon
Member
Wed Apr 11 06:37:52
Though I do hope that China fulfils some promises, Germany could be a free rider^^
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