MAGA: Federal deficit soars 32% to $895B. Glad CIC Bone Spur is on the Job. Obama did better, Btw!

Discussion in 'Current Events' started by Baz Ares, Sep 11, 2018.

  1. Baz Ares
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    Baz Ares Gold Member

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    MAGA: Federal deficit soars 32% to $895B. Glad CIC Bone Spur is on the Job. Obama did better, Btw!

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    The federal deficit hit $895 billion in the first 11 months of fiscal 2018, an increase of $222 billion, or 32 percent, over the same period the previous year, according to the Congressional Budget Office (CBO).

    The nonpartisan CBO reported that the central drivers of the increasing deficit were the Republican tax law and the bipartisan agreement to increase spending. As a result, revenue only rose 1 percent, failing to keep up with a 7 percent surge in spending, it added.

    Revenue from individual and payroll taxes was up some $105 billion, or 4 percent, while corporate taxes fell $71 billion, or 30 percent.

    Earlier analysis from CBO projected that deficits would near $1 trillion in 2019 and surpass that amount the following year.Federal deficit soars 32 percent to $895B


    :dunno: Gee The great Douche should've given out 8 Trillion in that BS Tax Scam of 2017
    giveaways tax breaks to the 1% never show good returns... Like do they lower their prices? FFS NO!
    Do they stop ordering china made goods? FFS NO!

    Maybe giving out 8 Trillion would've done better for the National debt.
    MAGA: The Art of the Failure! But hey! Some morons got a stupid red hat.

    BTW.. FYI:...MAGA DOPers! Conservatives plan. Let's just spend more money! Whee!
    Don't Blame Obama For Doubling The Federal Deficit





    LOL! Spend more to get us to bankruptcy faster.
    MAGA BOOBS -Big Orange Orangutan Buffoon Solutions... What a plan!
     
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  2. andaronjim
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    andaronjim Gold Member

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    Obama in his first years raised the national debt to 1.5 trillion dollars. Then when he spent less than that each year, the rate was down but totally with 9.5 trillion over his 8 years, the average was 1.15 trillion a year, but a liberal wont tell the truth....
     
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  3. caddo kid
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    caddo kid Silver Member

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    Yep; offer those TAX CUTS to the wealthiest & tax receipts GO DOWN. But the GOP guys already know this FACT.

    Yes; we ALL knew this would happen except the beneficiaries of the current fiscal abomination are,
    1. the top 0.001% of the wealthiest individual Americans
    2. corporations
    Anyone that was paying attention KNEW that the GOP would (again) offer the GOP donor class everything they wanted.
    Well, they are getting it.
    All while they profit, what is left of the 'middle class,' the working stiffs, and the working poor, the top 0.0001% will make out like bandits, until which time the GOP machine AGAIN tanks the economy, as Bush did in late 2008, and everything will go to Hell, once again.
    We have seen this movie before & we all know how it ends; WORSE than last time.
    MAGA

    And this is the modern day poster child for ARROGANCE & DECEIT

     
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    Last edited: Sep 11, 2018
  4. Pete7469
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    Pete7469 Gold Member

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    LOL...

    For the ENTIRE 8 YEARS of the Bush Admin, we heard (and I contributed to) the wailing of excessive debt spending.

    Of course the bed wetters wanted to surrender to Bin Laden, re-install Saddam Hussein to the throne, disarm the military and still spend all the money and more on bike lanes and art schools for the blind.

    Once the meat puppet was in, were told that we didn't really hear him say he would cut the deficit in half, and it wasn't the republicrats that swept elections in 2010 that led to any cutting at all.

    Now, after the meat puppet doubled the debt and never passed a budget, only submitting 3 that were completely rejected as a whole by the entire senate, we're told by the bed wetters that the debt is a bad thing again since obozo isn't there anymore.

    Maybe they'll call it "unpatriotic" again.

    At this point I don't care.

    Money is based on a belief that it's worth something. There is no intrinsic or tangible value of a Dollar to hold it up. It is in effect an electronic blip that shows up on a computer as something worth 100 copper plated coins with a president the democrooks will soon be trying to tear down monuments of and replace his image on said coins.

    At this point the only confidence I have in anything is that if democrooks and regressive libturd parasites oppose something, it should not be messed with. If they promote something, it must be defeated.

    That is the basic formula of governance that should be followed and it appears to be working.

    MAGA and piss a democrook off.


    .

     
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  5. andaronjim
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    andaronjim Gold Member

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    Yeah sure.....The economy has always gone up and down, liberals love it when it tanks, so then they can save the day with socialist policies.


    Then it takes a Republican to come in and stop the bleeding that the liberals has done by making more in poverty while have uber liberal elites like Warren Buffet and Jeff Bezos get billions more, from our taxes and regulations. A liberal is the most stupid person in the universe.
     
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  6. caddo kid
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    caddo kid Silver Member

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    and isn't it strange that when the GOP is in control of government the economy goes to Hell, all over again
     
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  7. Brain357
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    Brain357 Gold Member

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    So you voted for trump so he could be like obama?
     
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  8. andaronjim
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    andaronjim Gold Member

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    The dollar once was based upon precious metals but it restricted FDR from spending more, so he took the dollar of the gold standard in 1930's so he could do his great welfare and social security. Then when it was put back on the standard, Nixon(liberal Republican) took off the gold standard so HE too could spend like a reckless liberal. So today, the dollar is based on the work of an employee and the products that it involves. So 1 dollar could represent 1/6th hour of a burger flipper working, or 1 burger that the guy made. But when with welfare, nothing is done for it, except paid to do nothing, a hole in society. So more money is printed(why 4.5 tillion was made by Obama's FED) out of nothing, yet that is not talked about, but is still on the books of the fed. Really Obama has 14 trillion of debt, but the liberals wont tell the truth.....
     
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  9. andaronjim
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    andaronjim Gold Member

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    You know that Nancy Pelosi was in charge of the house when the Housing bubble burst?
     
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  10. Pete7469
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    Pete7469 Gold Member

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    Exactly....

    Things were improving after the 9/11 attacks and the stock market crash that resulted. It seems a lot of people don't recall how devastating that day was to the economic health of the country.

    1/3 of it's value wiped away over night IIRC. The first 6 month afterwards were rough on me. I was even homeless briefly. I stole a job for $6 an hour from a wetback just to survive living in a car for a couple months.

    It was WAY WORSE than the obozo election crash in 2008 but we recovered quickly. All it took was a midterm win by leftist sociopaths in 2006 to stop the recovery, and the unfortunate 2008 election of a meat puppet to send the economy right down into the septic tank where it pretty much stayed until Trump was elected.
     
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