CBO: Trump tax cuts carry big price tag: Huge debt+risk of another Financial Crisis

[task0778]

The best way to stop deficits is to stop spending so much money.

If you can't do that then grow the economy, which is what Trump is doing.

Funny how these stupid Moon Bats get on their high horse about deficits now when they never said a damn word about Obama's $10 trillion in debt.

We could increase taxes 10% and government would spend every last penny and still borrow more to spend.

Just wait until you see how much more money the filthy ass states and local governments do because now they can tax the internet purchase.

For instance, I doubt a state like California will use one cent to pay off some of that half trillion deficit they have. They will just give more welfare to the Illegals.

They have a surplus.

Gov. Jerry Brown proposes $131.7 billion budget amid huge surplus

Wonder if he included in his surplus the unfunded public employee pensions and healthcare benefits. My guess, probably not.


The non-partisan “Truth in Accounting” project, which analyzes government financial reports, has awarded California an “F” grade for claiming surpluses instead of a $269.9 billion deficit.

The Chicago-based organization has been providing in-depth accounting reviews of the audited financial statements for America’s fifty states, as well as most major counties and major cities, in the United States since 2002.

The group’s mission is to educate and empower citizens with understandable, reliable, and transparent government financial information.

California received the lowest score of “F” on Truth in Accounting’s grading scale because despite Gov. Jerry Brown touting several years of surpluses, California actually faces a $269.9 billion shortfall in terms of its overall obligations, which equates to $22,000 burden for each of the 12.3 million taxpayers in the state.

California’s financial burden is primarily associated with the rapidly deteriorating condition of the state’s current $461.3 billion in promised public employee retirement benefits –which are $102.5 billion under-funded by the pension plan — and $107 billion for unfunded retiree health care benefits.

Rightie task0778 Got is Lying.

HIS link was Breitbart which includes that study, but Doesn't have the Intro/First sentence your WITHHELD Link did.
California Gets 'F' Grade from 'Truth in Accounting' | Breitbart

Only Bretbart includes the Intro You Copied

""the non-partisan “Truth in Accounting” project, which analyzesgovernment financial reports, has awarded California an “F” grade for claiming surpluses instead of a $269.9 billion deficit.""​

Truth in accounting Didn't/wouldn't mention themselves that way: third party.
YOU a BreitbarK BOY.

:^)

YOU an idiot. Breitbart printed an excerpt from the non-partisan Truth in Accounting project, which analyzes government financial reports. Breitbart doesn't own or fund TIA, I went straight to the report itself, what's wrong with that? Funny how the left-wing news sites won't print the truth about the unfunded liabilities that California and most other states do not include in their write-ups about how California has a $6 billion surplus.

Do you really think California should not include the debt they owe on their financial statements? Do you really think it's not true? Who gives a fuck if Breitbart prints it if it's true? You ought to worry less about who prints what and be concerned more with whether it's true or not.

 

[WaitingFor2020]

So to summarize. This was the least needed, most Cynical Tax Cut ever.
And they will now (after the 2018 mid-terms) try to Cut Medicare and SS to pay for it.

I can you assure, I need my money. If you don't want yours give it back.

Vacuous Wise guy Troll from moderator noted.
`

Nope, just the truth.

Alas, it's was a Stupid wise guy remark
Not being favor a a tax cut for sake of Natl policy, doesn't mean I should give mine back, or that it would make a difference.
The object in Politics is discussion OF politics, not 12 IQ wise guy quips

The board problem IS one-line Trolls like you
Ironically, I just elaborated here:
Is USMB hate speech?

Now please remove yourself from the string Or I will ask a mature mgt member to do so
thx
`

Anyone who thinks they know the absolute truth is immediately suspect. So what I offer here below is a information, instead of attitude.
From Americans for Tax Fairness:

 

[jc456]

I propose that you start sending most of your paycheck back to the govt if you have such guilt. You'll be making a statement.

Yet another/Identical Assinine wise guy quip.

This board/section is to discuss Politics, not make the idiotic and non policy burp you did.

Suggesting that everyone who is in favor of the death penalty has to go execute someone, or everyone who wants to eat Organic Must grow his own to not be a hypocrite is obviously fallacious.

Now ANYTHING at all on the tax cuts and the CBO's assessment?

This really is a great example of what a Piece of *** this board is.
ZERO on topic discussion, just ""No, yo momma" posts even from a mod. (the ironic but very reason FOR the problem here)

TO Management:
EVERY REPLY above, (EDIT and now below too), including 2 by a mod, is 100% TROLLING, and the very problem with this msg board. NOT one has been able to discuss politics.. in Politics.
This IS a TROLL message board (app 70% RW)
GARBAGE.

he did. it's obvious you don't like your tax cut. so give it back and help out the CBO. Not sure how you think that didn't address the issue. are you ok?

 

[jc456]

So to summarize. This was the least needed, most Cynical Tax Cut ever.
And they will now (after the 2018 mid-terms) try to Cut Medicare and SS to pay for it.

I can you assure, I need my money. If you don't want yours give it back.

Vacuous Wise guy Troll from moderator noted.
`

Nope, just the truth.

Alas, it's was a Stupid wise guy remark
Not being favor a a tax cut for sake of Natl policy, doesn't mean I should give mine back, or that it would make a difference.
The object in Politics is discussion OF politics, not 12 IQ wise guy quips

The board problem IS one-line Trolls like you
Ironically, I just elaborated here:
Is USMB hate speech?

Now please remove yourself from the string Or I will ask a mature mgt member to do so
thx
`

Anyone who thinks they know the absolute truth is immediately suspect. So what I offer here below is a information, instead of attitude.
From Americans for Tax Fairness:

View attachment 201400

how do you know the absolute truth if you think we don't? you have some sort of secret connection? LOL Holy fk, can't make this crap up. just can't.

 

[abu afak]

YOU an idiot. Breitbart printed an excerpt from the non-partisan Truth in Accounting project, which analyzes government financial reports. Breitbart doesn't own or fund TIA, I went straight to the report itself, what's wrong with that? Funny how the left-wing news sites won't print the truth about the unfunded liabilities that California and most other states do not include in their write-ups about how California has a $6 billion surplus.

Do you really think California should not include the debt they owe on their financial statements? Do you really think it's not true? Who gives a fuck if Breitbart prints it if it's true? You ought to worry less about who prints what and be concerned more with whether it's true or not.

I just Proved YOU LIED.
YOUR link was BreitbarK.

The study they cited (and only THEY Intro-ed) from TIA is completely legitimate, and I did NOT impugn TIA directly or by association.
What I did was OUT where you got it and where YOU get YOUR News.
Period.

You got caught.
PERIOD.
`

 

[jc456]

YOU an idiot. Breitbart printed an excerpt from the non-partisan Truth in Accounting project, which analyzes government financial reports. Breitbart doesn't own or fund TIA, I went straight to the report itself, what's wrong with that? Funny how the left-wing news sites won't print the truth about the unfunded liabilities that California and most other states do not include in their write-ups about how California has a $6 billion surplus.

Do you really think California should not include the debt they owe on their financial statements? Do you really think it's not true? Who gives a fuck if Breitbart prints it if it's true? You ought to worry less about who prints what and be concerned more with whether it's true or not.

I was just Proiving YOU LIED
YOUR link was BreitbarK.
The study they cited from TIA is completely legitimate, and I did NOT impugn TIA directly or by association.
What I did was OUT where you got it and where YOU get YOUR News.
Period.

You got caigjht.
PERIOD.
`

what?

 

[task0778]

YOU an idiot. Breitbart printed an excerpt from the non-partisan Truth in Accounting project, which analyzes government financial reports. Breitbart doesn't own or fund TIA, I went straight to the report itself, what's wrong with that? Funny how the left-wing news sites won't print the truth about the unfunded liabilities that California and most other states do not include in their write-ups about how California has a $6 billion surplus.

Do you really think California should not include the debt they owe on their financial statements? Do you really think it's not true? Who gives a fuck if Breitbart prints it if it's true? You ought to worry less about who prints what and be concerned more with whether it's true or not.

I just Proved YOU LIED.
YOUR link was BreitbarK.

The study they cited (and only THEY Intro-ed) from TIA is completely legitimate, and I did NOT impugn TIA directly or by association.
What I did was OUT where you got it and where YOU get YOUR News.
Period.

You got caught.
PERIOD.
`

Actually, my link was directly to the source of the information about California's unfunded liabilities. No lie there. Which you yourself say is legitimate. PERIOD.

 

[deanrd]

So to summarize. This was the least needed, most Cynical Tax Cut ever.
And they will now (after the 2018 mid-terms) try to Cut Medicare and SS to pay for it.

I can you assure, I need my money. If you don't want yours give it back.

You didn't get sh!t. And you know it.

 

[Dont Taz Me Bro]

So to summarize. This was the least needed, most Cynical Tax Cut ever.
And they will now (after the 2018 mid-terms) try to Cut Medicare and SS to pay for it.

I can you assure, I need my money. If you don't want yours give it back.

You didn't get sh!t. And you know it.

I got an extra $140 a month in my paycheck and my wife got an extra $100. Not to mention the extra child credit we'll be receiving when we file next year.

Don't get upset with me because you're a loser.

 

[Clementine]

The cut/stimulus we didn't even need.
The economy chugging along nicely with 80 straight months of growth, and unemployment at 4.6% (and dropping) when Obama left office, even lower by the time of the cuts. Near 4.2%.. "Full employment"
Never been done in such a circumstance.
So now we are having a "sugar high:" getting the last few tenths out of the long term growth, at a cost of risking it all.
And in case you don't realize it, the Individual tax cuts are Temporary, while the corporate ones permanent.

This is the Hollow "great economy" Trumpov Trumpets now: the "sugar high" from these Tax cuts.

Trump tax cuts carry a big price tag: Huge debt and risk of another financial crisis, budget office warns
By EVAN HALPER - JUN 26, 2018
Trump tax cuts carry a big price tag: Huge debt and risk of another financial crisis, budget office warns

The tax cuts championed by President Trump are pushing the nation toward an unprecedented level of debt, heightening the risk for another financial crisis, according to the nonpartisan Congressional Budget Office.

The budget office’s annual look at the government’s long-term financial outlook paints a grim picture, projecting soaring deficits in the coming years, with debt ultimately peaking at more than 152% of the nation’s gross domestic product.
......
The biggest problem in the coming decade stems from last year’s tax cut. It is estimated to increase the deficit by more than $2.3 trillion over that period. Under the tax law, individual income tax rates are slated to Increase sharply at the end of the decade, while corporate taxes remain low. If Congress allows that individual tax hike to take effect, the tax cut’s long-term impact on the debt will begin to fade after the next 10 years.
But if Congress balks at that big tax increase — many members of Congress already have said they want to make the individual cuts permanent — the red ink would be even worse than projected, the budget office said.

The impact of the tax cut comes on top of a preexisting problem — the spiraling price of providing subsidized healthcare and Social Security for the huge baby boom generation as it moves into retirement, the budget office said. Most of the rest of government spending is projected to decline, relative to the size of the economy, the report said. The one big exception is interest payments, which will rise as the debt increases.
......
Rising debt also threatens to weaken the global power of the United States as it increasingly depends on foreign investors to lend money to the Treasury, the report noted.
Federal debt already stands at the highest level relative to the size of the economy that it has been since the aftermath of World War II, 78% of the gross domestic product. The last time the debt was that high, the nation was deep in the red from the war effort and the public works projects implemented in response to the Depression.
[......]​

`

First, stop acting like our money belongs to government. I am middle class and tired of politicians wanting me to be grateful that they let me keep some of my own money.

Second, spending is what is out of control. They don't need to steal as much money as they do.

We are sending billions to other countries. That is not constitutional. When idiot Dems made income tax permanent, it was promised it would never exceed 3%. The money was intended to keep government running and only spent on necessary things. We all know most of the money isn't spent wisely. It's used to buy votes, support tyrannical governments abroad and wasted on pork spending. That was never the intention. By the way, we had roads, schools, trains and everything else before government took over. When government takes over anything, the price goes up and the quality goes down.

We should be cutting taxes. The government needs to cut spending. Foreign aid doesn't help us. Most of the spending is bullshit.

 

[abu afak]

I got an extra $140 a month in my paycheck and my wife got an extra $100. Not to mention the extra child credit we'll be receiving when we file next year.
Don't get upset with me because you're a loser.

And?
Why did the country need it?
Did you answer the POINT of the OP?
We all know ALREADY most people got a cut you FLAMING MALE BIMBO.

How much has your share of the Increased Budget deficit gone up?
Would YOU Have borrowed that money?
Because Trumpov just DID in YOUR Name.

You ****** Moron.
There's another side to the balance sheet entry.
That's not Found money, that's Borrowed money.

Really, you are Too stupid to debate anyone about anything.
`

 

[Fort Fun Indiana]

So to summarize. This was the least needed, most Cynical Tax Cut ever.
And they will now (after the 2018 mid-terms) try to Cut Medicare and SS to pay for it.

I can you assure, I need my money. If you don't want yours give it back.

You didn't get sh!t. And you know it.

I got an extra $140 a month in my paycheck and my wife got an extra $100. Not to mention the extra child credit we'll be receiving when we file next year.

Don't get upset with me because you're a loser.

And if I added up all the anecdotes I heard like this one, the tax cuts would amount to eleventy zillion a year.

 

[Dont Taz Me Bro]

So to summarize. This was the least needed, most Cynical Tax Cut ever.
And they will now (after the 2018 mid-terms) try to Cut Medicare and SS to pay for it.

I can you assure, I need my money. If you don't want yours give it back.

You didn't get sh!t. And you know it.

I got an extra $140 a month in my paycheck and my wife got an extra $100. Not to mention the extra child credit we'll be receiving when we file next year.

Don't get upset with me because you're a loser.

And if I added up all the anecdotes I heard like this one, the tax cuts would amount to eleventy zillion a year.

You're free to believe whatever you want.

 

[Dont Taz Me Bro]

I got an extra $140 a month in my paycheck and my wife got an extra $100. Not to mention the extra child credit we'll be receiving when we file next year.
Don't get upset with me because you're a loser.

And?
Why did the country need it?
Did you answer the POINT of the OP?
We all know ALREADY most people got a cut you FLAMING MALE BIMBO.

How much has your share of the Increased Budget deficit gone up?
Would YOU Have borrowed that money?
Because Trumpov just DID in YOUR Name.

You ****** Moron.
There's another side to the balance sheet entry.
That's not Found money, that's Borrowed money.

Really, you are Too stupid to debate anyone about anything.
`

Maybe the country should stop wasting so much money on crap.

 

[JBond]

The government spends too much. It's not that complicated.

 

[Norman]

More butthurt about Americans keeping their money.

As expected...

 

[Norman]

I got an extra $140 a month in my paycheck and my wife got an extra $100. Not to mention the extra child credit we'll be receiving when we file next year.
Don't get upset with me because you're a loser.

And?
Why did the country need it?
Did you answer the POINT of the OP?
We all know ALREADY most people got a cut you FLAMING MALE BIMBO.

How much has your share of the Increased Budget deficit gone up?
Would YOU Have borrowed that money?
Because Trumpov just DID in YOUR Name.

You ****** Moron.
There's another side to the balance sheet entry.
That's not Found money, that's Borrowed money.

Really, you are Too stupid to debate anyone about anything.
`

When Obama did that to far, far greater degree, some people proclaimed him the messiah and that austerity is more evil than Satan himself.

But now that it's Trump you are wetting yourselves.

 

[JBond]

More butthurt about Americans keeping their money.

As expected...

The leftists cried like babies about the SALT changes. They hate paying their fair share. All whining about taxes and deficits is political only. When it comes down to it, liberals are greedy and refuse to pay for all the asinine things they believe the government should fund.