Congress Approved $2.4 Trillion In Additional Debt During Fiscal Year 2018: Watchdog

[kiwiman127]

Congress approved $2.4 trillion in additional debt during fiscal year 2018: Watchdog

In April, the nonpartisan Congressional Budget Office (CBO) projected that debt held by the public would rise from $14.6 trillion in 2017 to $27.1 trillion in 2027.

“At a time when debt is already at record-high levels and growing unsustainably, the $2.4 trillion added to the projected debt over the past year is incredibly irresponsible," CFRB wrong in a blog post. "These changes alone will increase projected debt from 86 percent of GDP to 94 percent."


We will now observe the pseudocons demonstrating they are literally physically incapable of uttering a single syllable of criticism toward Trump about his astronomical deficits, despite being very, very vocal about deficits when the black guy was President.

In fact, we will see them look at the facts, and stupidly sputter, "B-b-b-b-b-b-b-but Obama!" rather than admit they hired an apprentice President who is an even bigger spender than his predecessor.

Even worse, they will go full Keynes and claim all that overspending is good for the economy!

YOUR idiotic stuttering is a FACT though! Dumb Ass Obama didn't care to make the USA secure because he CUT spending on the military
WHILE INCREASING spending on fighting against the Growth of the United States.

NOW the above details are TOO MUCH for dummies like you to comprehend BUT the facts are:

1) First, the attacks on 9/11 led to the War on Terror.
That almost doubled annual military spending. It rose from $437.4 billion in 2003 to a peak of $855.1 billion in 2011.
That includes the defense department budget and off-budget emergency spending.
It also includes spending for departments that support defense, such as Homeland Security, the Department of Veterans Affairs, and the National Nuclear Security Administration.

An indefensible defense budget
ED FEULNER: Obama deep cuts to defense leaves U.S. vulnerable
Obama's deep cuts could lead to a U.S. military defeat
Energy subsidies. UP!
Catfish-inspection programs. UP.
As I detailed in a recent column, the federal budget is rife with spending that is highly questionable, to put it mildly.
No wonder the national debt exceeds $19 trillion.
It seems policymakers just can’t say no to anything.
Except when it comes to defense.
For fiscal 2017, President Obama has requested $551 billion for the base defense budget, plus funding for ongoing operations, for a total of $610 billion. That sounds like a lot of money — but only if you overlook a couple of very important points.

• One is that these amounts, historically speaking, are extraordinarily low. Few people will be surprised that the U.S. spent more on defense in the Reagan years (the same investment of gross domestic product would be $1.1 trillion annually, on average). But it was $917 billion annually during the Carter years, and $761 billion when George W. Bush was in office.

• The military’s budget was even higher during the Clinton years: $624 billion. Now we’re talking about lowering it to $610 billion. As defense expert Justin Johnson recently pointed out, “As a percent of the government spending or total economy, the U.S. has not spent so little on national defense since the end of World War

2) Second, mandatory spending has increased.
That means benefit payouts for Social Security, Medicare, and other mandated programs. It's exceeded $2 trillion a year since FY 2011. These payments consume two-thirds
of the revenue each year. Only an Act of Congress that amends a program's benefits can change them. That would require a majority vote in both houses and is unlikely to happen.
Any reduction in benefits takes money out of the pockets of current beneficiaries. The powerful demographic of seniors would vote lawmakers out of office.

3)Third, the Trump tax cut will reduce revenue.
It's reducing the personal income tax rate, corporate taxes, and small business taxes.
These cuts total $1.5 trillion over the next 10 years.
But the Joint Committee on Taxation said the cuts will stimulate growth by 0.7 percent annually.
The increased growth will add revenue, offsetting some of the tax cuts. As a result, the deficit will increase $1 trillion over the next decade.
4 Reasons the U.S. Deficit Is Out of Control

But all of this goes WAY WAY above The idiot G5000 pointy empty skull, that just doesn't seem to comprehend the simple facts of the Federal budget!
Above facts are a reality.
62% of the budget is NOT controlled by Trump NOR was it controlled by Obama either!
That leaves 38% which IS under Trump's control.

And Trump UNLIKE the bumpkin idiot Obama believes the ONLY way that America can continue to be America (which Obama fought against...) is a strong defense!

The House controls spending, FACT.
The Republicans controlled the House, six of Obama's eight years. Fact.

 

[g5000]

Congress approved $2.4 trillion in additional debt during fiscal year 2018: Watchdog

In April, the nonpartisan Congressional Budget Office (CBO) projected that debt held by the public would rise from $14.6 trillion in 2017 to $27.1 trillion in 2027.

“At a time when debt is already at record-high levels and growing unsustainably, the $2.4 trillion added to the projected debt over the past year is incredibly irresponsible," CFRB wrong in a blog post. "These changes alone will increase projected debt from 86 percent of GDP to 94 percent."


We will now observe the pseudocons demonstrating they are literally physically incapable of uttering a single syllable of criticism toward Trump about his astronomical deficits, despite being very, very vocal about deficits when the black guy was President.

In fact, we will see them look at the facts, and stupidly sputter, "B-b-b-b-b-b-b-but Obama!" rather than admit they hired an apprentice President who is an even bigger spender than his predecessor.

Even worse, they will go full Keynes and claim all that overspending is good for the economy!

YOUR idiotic stuttering is a FACT though! Dumb Ass Obama didn't care to make the USA secure because he CUT spending on the military
WHILE INCREASING spending on fighting against the Growth of the United States.

NOW the above details are TOO MUCH for dummies like you to comprehend BUT the facts are:

1) First, the attacks on 9/11 led to the War on Terror.
That almost doubled annual military spending. It rose from $437.4 billion in 2003 to a peak of $855.1 billion in 2011.
That includes the defense department budget and off-budget emergency spending.
It also includes spending for departments that support defense, such as Homeland Security, the Department of Veterans Affairs, and the National Nuclear Security Administration.

An indefensible defense budget
ED FEULNER: Obama deep cuts to defense leaves U.S. vulnerable
Obama's deep cuts could lead to a U.S. military defeat
Energy subsidies. UP!
Catfish-inspection programs. UP.
As I detailed in a recent column, the federal budget is rife with spending that is highly questionable, to put it mildly.
No wonder the national debt exceeds $19 trillion.
It seems policymakers just can’t say no to anything.
Except when it comes to defense.
For fiscal 2017, President Obama has requested $551 billion for the base defense budget, plus funding for ongoing operations, for a total of $610 billion. That sounds like a lot of money — but only if you overlook a couple of very important points.

• One is that these amounts, historically speaking, are extraordinarily low. Few people will be surprised that the U.S. spent more on defense in the Reagan years (the same investment of gross domestic product would be $1.1 trillion annually, on average). But it was $917 billion annually during the Carter years, and $761 billion when George W. Bush was in office.

• The military’s budget was even higher during the Clinton years: $624 billion. Now we’re talking about lowering it to $610 billion. As defense expert Justin Johnson recently pointed out, “As a percent of the government spending or total economy, the U.S. has not spent so little on national defense since the end of World War

2) Second, mandatory spending has increased.
That means benefit payouts for Social Security, Medicare, and other mandated programs. It's exceeded $2 trillion a year since FY 2011. These payments consume two-thirds
of the revenue each year. Only an Act of Congress that amends a program's benefits can change them. That would require a majority vote in both houses and is unlikely to happen.
Any reduction in benefits takes money out of the pockets of current beneficiaries. The powerful demographic of seniors would vote lawmakers out of office.

3)Third, the Trump tax cut will reduce revenue.
It's reducing the personal income tax rate, corporate taxes, and small business taxes.
These cuts total $1.5 trillion over the next 10 years.
But the Joint Committee on Taxation said the cuts will stimulate growth by 0.7 percent annually.
The increased growth will add revenue, offsetting some of the tax cuts. As a result, the deficit will increase $1 trillion over the next decade.
4 Reasons the U.S. Deficit Is Out of Control

But all of this goes WAY WAY above The idiot G5000 pointy empty skull, that just doesn't seem to comprehend the simple facts of the Federal budget!
Above facts are a reality.
62% of the budget is NOT controlled by Trump NOR was it controlled by Obama either!
That leaves 38% which IS under Trump's control.

And Trump UNLIKE the bumpkin idiot Obama believes the ONLY way that America can continue to be America (which Obama fought against...) is a strong defense!

See?

"B-b-b-b-b-b-but Obama!"

LITERALLY physically incapable of criticizing Trump for his astronomical overspending, even though Trump is ACCELERATING our deficits!


TA-DAAAAAAAAA!

 

[g5000]

Dems ran up the debt nearly ten trillion, doubling the overall debt. What did we get besides high unemployment and welfare rates and jobs shipped overseas?

At least President Trump is fixing our economy from the disaster the Hussein left behind. That being said, I do agree we need to start cutting spending big time. Feel free to propose what we should cut.

TA-DAAAAAAAA!

 

[g5000]

Not that much difference between republicans and democrats when it comes to spending our hard earned money
and money we don't even have. It really is a shame

'Tax and spend' is far better than 'not tax and spend'!

I've been posting this for years:

Democrats: Tax and spend
Republicans: Borrow and spend

 

[Richard-H]

World economy at risk of another financial crash, says IMF

The world economy is at risk of another financial meltdown, following the failure of governments and regulators to push through all the reformsneeded to protect the system from reckless behaviour, the International Monetary Fund has warned.

With global debt levels well above those at the time of the last crash in 2008, the risk remains that unregulated parts of the financial system could trigger a global panic, the Washington-based lender of last resort said.

Yet soooo very few ask the essential question....

View attachment 221489

The Moon people, obviously!

 

[g5000]

I think it would actually kill a pseudocon to get angry about Trump's spending in the same way they got angry about Obama's.

They would die. Just keel right over.

 

[g5000]

Wow.

That is one seriously ignorant graphic.

I've always said you pseudocons have the intellectual capacity of a bumper sticker, and you keep proving it!

To whom is the debt owed, smarty pants?

Wow. Really?

Here: https://www.independent.co.uk/news/...omy-causes-solutions-definition-a8143516.html

 

[Aldo Raine]

Congress approved $2.4 trillion in additional debt during fiscal year 2018: Watchdog

In April, the nonpartisan Congressional Budget Office (CBO) projected that debt held by the public would rise from $14.6 trillion in 2017 to $27.1 trillion in 2027.

“At a time when debt is already at record-high levels and growing unsustainably, the $2.4 trillion added to the projected debt over the past year is incredibly irresponsible," CFRB wrong in a blog post. "These changes alone will increase projected debt from 86 percent of GDP to 94 percent."


We will now observe the pseudocons demonstrating they are literally physically incapable of uttering a single syllable of criticism toward Trump about his astronomical deficits, despite being very, very vocal about deficits when the black guy was President.

In fact, we will see them look at the facts, and stupidly sputter, "B-b-b-b-b-b-b-but Obama!" rather than admit they hired an apprentice President who is an even bigger spender than his predecessor.

Even worse, they will go full Keynes and claim all that overspending is good for the economy!

Rump said he is the king of debt and he is NOT letting us down.

 

[theHawk]

Not that much difference between republicans and democrats when it comes to spending our hard earned money
and money we don't even have. It really is a shame

'Tax and spend' is far better than 'not tax and spend'!

I've been posting this for years:

Democrats: Tax and spend
Republicans: Borrow and spend

Except Obama borrowed ten trillion.

 

[S.J.]

Obama increased the deficit without increasing the GDP. Big difference.

 

[theHawk]

Dems ran up the debt nearly ten trillion, doubling the overall debt. What did we get besides high unemployment and welfare rates and jobs shipped overseas?

At least President Trump is fixing our economy from the disaster the Hussein left behind. That being said, I do agree we need to start cutting spending big time. Feel free to propose what we should cut.

TA-DAAAAAAAA!

So are you going to propose what should be cut, or just whine?

 

[danielpalos]

Congress approved $2.4 trillion in additional debt during fiscal year 2018: Watchdog

In April, the nonpartisan Congressional Budget Office (CBO) projected that debt held by the public would rise from $14.6 trillion in 2017 to $27.1 trillion in 2027.

“At a time when debt is already at record-high levels and growing unsustainably, the $2.4 trillion added to the projected debt over the past year is incredibly irresponsible," CFRB wrong in a blog post. "These changes alone will increase projected debt from 86 percent of GDP to 94 percent."


We will now observe the pseudocons demonstrating they are literally physically incapable of uttering a single syllable of criticism toward Trump about his astronomical deficits, despite being very, very vocal about deficits when the black guy was President.

In fact, we will see them look at the facts, and stupidly sputter, "B-b-b-b-b-b-b-but Obama!" rather than admit they hired an apprentice President who is an even bigger spender than his predecessor.

Even worse, they will go full Keynes and claim all that overspending is good for the economy!

the power to provide for the general welfare is general; the power to provide for the common defense, is not.

discretionary spending has to go, first.

 

[Harpy Eagle]

Congress approved $2.4 trillion in additional debt during fiscal year 2018: Watchdog

In April, the nonpartisan Congressional Budget Office (CBO) projected that debt held by the public would rise from $14.6 trillion in 2017 to $27.1 trillion in 2027.

“At a time when debt is already at record-high levels and growing unsustainably, the $2.4 trillion added to the projected debt over the past year is incredibly irresponsible," CFRB wrong in a blog post. "These changes alone will increase projected debt from 86 percent of GDP to 94 percent."


We will now observe the pseudocons demonstrating they are literally physically incapable of uttering a single syllable of criticism toward Trump about his astronomical deficits, despite being very, very vocal about deficits when the black guy was President.

In fact, we will see them look at the facts, and stupidly sputter, "B-b-b-b-b-b-b-but Obama!" rather than admit they hired an apprentice President who is an even bigger spender than his predecessor.

Even worse, they will go full Keynes and claim all that overspending is good for the economy!

YOUR idiotic stuttering is a FACT though! Dumb Ass Obama didn't care to make the USA secure because he CUT spending on the military
WHILE INCREASING spending on fighting against the Growth of the United States.

NOW the above details are TOO MUCH for dummies like you to comprehend BUT the facts are:

1) First, the attacks on 9/11 led to the War on Terror.
That almost doubled annual military spending. It rose from $437.4 billion in 2003 to a peak of $855.1 billion in 2011.
That includes the defense department budget and off-budget emergency spending.
It also includes spending for departments that support defense, such as Homeland Security, the Department of Veterans Affairs, and the National Nuclear Security Administration.

An indefensible defense budget
ED FEULNER: Obama deep cuts to defense leaves U.S. vulnerable
Obama's deep cuts could lead to a U.S. military defeat
Energy subsidies. UP!
Catfish-inspection programs. UP.
As I detailed in a recent column, the federal budget is rife with spending that is highly questionable, to put it mildly.
No wonder the national debt exceeds $19 trillion.
It seems policymakers just can’t say no to anything.
Except when it comes to defense.
For fiscal 2017, President Obama has requested $551 billion for the base defense budget, plus funding for ongoing operations, for a total of $610 billion. That sounds like a lot of money — but only if you overlook a couple of very important points.

• One is that these amounts, historically speaking, are extraordinarily low. Few people will be surprised that the U.S. spent more on defense in the Reagan years (the same investment of gross domestic product would be $1.1 trillion annually, on average). But it was $917 billion annually during the Carter years, and $761 billion when George W. Bush was in office.

• The military’s budget was even higher during the Clinton years: $624 billion. Now we’re talking about lowering it to $610 billion. As defense expert Justin Johnson recently pointed out, “As a percent of the government spending or total economy, the U.S. has not spent so little on national defense since the end of World War

2) Second, mandatory spending has increased.
That means benefit payouts for Social Security, Medicare, and other mandated programs. It's exceeded $2 trillion a year since FY 2011. These payments consume two-thirds
of the revenue each year. Only an Act of Congress that amends a program's benefits can change them. That would require a majority vote in both houses and is unlikely to happen.
Any reduction in benefits takes money out of the pockets of current beneficiaries. The powerful demographic of seniors would vote lawmakers out of office.

3)Third, the Trump tax cut will reduce revenue.
It's reducing the personal income tax rate, corporate taxes, and small business taxes.
These cuts total $1.5 trillion over the next 10 years.
But the Joint Committee on Taxation said the cuts will stimulate growth by 0.7 percent annually.
The increased growth will add revenue, offsetting some of the tax cuts. As a result, the deficit will increase $1 trillion over the next decade.
4 Reasons the U.S. Deficit Is Out of Control

But all of this goes WAY WAY above The idiot G5000 pointy empty skull, that just doesn't seem to comprehend the simple facts of the Federal budget!
Above facts are a reality.
62% of the budget is NOT controlled by Trump NOR was it controlled by Obama either!
That leaves 38% which IS under Trump's control.

And Trump UNLIKE the bumpkin idiot Obama believes the ONLY way that America can continue to be America (which Obama fought against...) is a strong defense!

See?

"B-b-b-b-b-b-but Obama!"

LITERALLY physically incapable of criticizing Trump for his astronomical overspending, even though Trump is ACCELERATING our deficits!


TA-DAAAAAAAAA!

You have that right!

91.2% increase in the deficit from FY17 to FY18...and that during the booming economy...and all the shee can do is “but ba ba ba Obama”.


Sent from my iPhone using USMessageBoard.com

 

[Aldo Raine]

Dems ran up the debt nearly ten trillion, doubling the overall debt. What did we get besides high unemployment and welfare rates and jobs shipped overseas?

At least President Trump is fixing our economy from the disaster the Hussein left behind. That being said, I do agree we need to start cutting spending big time. Feel free to propose what we should cut.

Really and who was in charge of the purse strings the last 6 years Obama was in office.

 

[S.J.]

Trump is ACCELERATING our deficits!


TA-DAAAAAAAAA!

He's also accelerating GDP growth, which cancels out the increase in deficits.


TA-DAAAAAAAAA!

 

[Meister]

Not that much difference between republicans and democrats when it comes to spending our hard earned money
and money we don't even have. It really is a shame

'Tax and spend' is far better than 'not tax and spend'!

Tax, borrow, and spend......borrow and spend

 

[g5000]

Not that much difference between republicans and democrats when it comes to spending our hard earned money
and money we don't even have. It really is a shame

'Tax and spend' is far better than 'not tax and spend'!

I've been posting this for years:

Democrats: Tax and spend
Republicans: Borrow and spend

Except Obama borrowed ten trillion.

Nope. Less than eight trillion.

I predicted a while ago that the amount you tards claim Obama borrowed would increase the bigger Trump's debt gets.

 

[Skull Pilot]

No, these are actual conservatives doing what conservatives have always done.

The notion of conservatives being "deficit hawks" has always been a myth.

I am a conservative deficit hawk. I am not a myth.

obviously you are since so called conservatives rack up debt every time they are in office just like the democrats do

 

[g5000]

No, these are actual conservatives doing what conservatives have always done.

The notion of conservatives being "deficit hawks" has always been a myth.

I am a conservative deficit hawk. I am not a myth.

obviously you are since so called conservatives rack up debt every time they are in office just like the democrats do

I have proposed very specific methods for reducing the debt since I arrived on this forum in 2011. Many, many, many times. More than any other subject.

Not only have I proposed methods for reducing the debt and balancing the budget, but I have also concurrently proposed a method which would also allow us to lower tax rates on EVERYONE.

It just does not get more fiscally conservative than that.

I am not a myth.

 

[theHawk]

Dems ran up the debt nearly ten trillion, doubling the overall debt. What did we get besides high unemployment and welfare rates and jobs shipped overseas?

At least President Trump is fixing our economy from the disaster the Hussein left behind. That being said, I do agree we need to start cutting spending big time. Feel free to propose what we should cut.

Really and who was in charge of the purse strings the last 6 years Obama was in office.

No one, since they couldn’t pass a budget and got so many continuing resolutions during the Hussein era.