Thank you stable genius Donald Trump ... Powell: U.S. debt is 'on unsustainable path,' ...

[Brain357]

And who increased it $9 TRILLION during his 8 years?

And who increased deficits after that guy? Ouch

 

[Billiejeens]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

 

[Brain357]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

Must have been the booming economy.

 

[Billiejeens]

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

 

[Billiejeens]

Face the reality..

The country is going to pity pot and babble it's way to bankruptcy, many will die and it's inevitable...
.

We had a good run.

 

[jwoodie]

The DEMOCRATS have made sure that any attempt to reduce the debt will be vilified as attempted murder (e.g., throwing granny off a cliff). Our one forlorn hope to address this issue would be a Constitutional Convention, wherein smaller states could outvote the bigger welfare states.

 

[Brain357]

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

 

[Papageorgio]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
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Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

 

[tyroneweaver]

U.S. debt is only bad when a Republican is in office.

unless you are talking to Repub then it is only bad when a Dem is in office.

there is no difference between you two groups.

the gop at one time tried to reduce spending. But then came the commercials of granny being pushed over the cliff in a wheel chair.

 

[Brain357]

U.S. debt is only bad when a Republican is in office.

unless you are talking to Repub then it is only bad when a Dem is in office.

there is no difference between you two groups.

the gop at one time tried to reduce spending. But then came the commercials of granny being pushed over the cliff in a wheel chair.

Yeah they stopped as soon as they had full control of Congress and the presidency. Strange.

 

[Billiejeens]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

Must have been the booming economy.

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.

 

[Harpy Eagle]

U.S. debt is only bad when a Republican is in office.

unless you are talking to Repub then it is only bad when a Dem is in office.

there is no difference between you two groups.

the gop at one time tried to reduce spending. But then came the commercials of granny being pushed over the cliff in a wheel chair.

This is why we have 23 trillion in debt...all the partisans make excuses for their party and nobody is held responsible

 

[Harpy Eagle]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

Must have been the booming economy.

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.

Liar. They have never done that. Revenue growth after a tax cut is always slower than before the tax cut.
The first full 12 months of Trumps tax cuts actually saw negative revenue growth as compared to the previous 12 months.

 

[Brain357]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

Must have been the booming economy.

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.

Once again, tax rate reductions have always increased deficits. They prop up the revenue with spending. How many times you going to be fooled? Happened with Reagan, Bush, trump... fool you again I suppose.

 

[Brain357]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

Must have been the booming economy.

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.

Liar. They have never done that. Revenue growth after a tax cut is always slower than before the tax cut.
The first full 12 months of Trumps tax cuts actually saw negative revenue growth as compared to the previous 12 months.

They needed time to prop up spending to increase revenue.

 

[Billiejeens]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

Must have been the booming economy.

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.

Liar. They have never done that. Revenue growth after a tax cut is always slower than before the tax cut.
The first full 12 months of Trumps tax cuts actually saw negative revenue growth as compared to the previous 12 months.

Take your lies somewhere else asshole
Whether it was JFK, Reagan, Bush or Trump doing it - Revenues have always gone up.

 

[Harpy Eagle]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

Must have been the booming economy.

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.

Liar. They have never done that. Revenue growth after a tax cut is always slower than before the tax cut.
The first full 12 months of Trumps tax cuts actually saw negative revenue growth as compared to the previous 12 months.

They needed time to prop up spending to increase revenue.

The revenue increase is always less than it was before the tax cuts.

 

[Thinker101]

Huh?
You can’t just make shit up...How did he spend $1.3T on “freeloaders”?

Anyone that approves and supports the deficit spending is nothing but a freeloader happy to see our children’s money being spent

Tell us more about this $1.3T you speak of...where was that spent?

Way more than that was spent, that is just how much more was spent than was brought in.

It was spent by the US Fed Govt of which your god is the leader of.

who knows where the fuck it all went

Yep, just wait for Medicare for all and the New Green Deal, you'd wish it was just $1.3 T.

If Trump wins a 2nd term he will submit his own universal healthcare plan and all you sheep will suddenly think it is the greatest thing ever.

pelosi - Bing video

 

[Billiejeens]

And who increased it $9 TRILLION during his 8 years?

He had to do that because -
Well he just had to do it damn it.

Must have been the booming economy.

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

What is it about the Fact that a cut in the rate of taxation INCREASES revenue to the treasury - EVERY TIME that it has been tried.
Every time without fail.
That your type can't understand?
So tax cuts did not contribute to growing the debt
The debt grows because no matter how much we take in - we are determined to spend more than that.

And deficits increase every time there is a tax cut. Almost like they use spending to prop up that revenue....

Deficits go up every time because Democratics use the money to buy the vote of the people down in your parasitic class of people.
2 reason - they want your vote
they want brain addled people to think tax cuts did it.

Once again -
Tax rate reductions have always increased revenue to the treasury.

Once again, tax rate reductions have always increased deficits. They prop up the revenue with spending. How many times you going to be fooled? Happened with Reagan, Bush, trump... fool you again I suppose.

I don't know for sure if you are just stupid or a liar -
But no.

 

[BrokeLoser]

Tell us more about this $1.3T you speak of...where was that spent?

Way more than that was spent, that is just how much more was spent than was brought in.

It was spent by the US Fed Govt of which your god is the leader of.

who knows where the fuck it all went

So you bitch about the $1.3T spent on Americans but not the $100B spent paying Mexico’s filth to ruin our nation, rape, murder and pillage our people...that doesn’t seem weird to you at all huh?

The 1.3 trillion includes that 100 billion. I complain about all of it and not just the part about brown people.

Did you know that smart people compartmentalize expenses to identify and isolate the frivolous shit? Did you know that smart people bitch about frivolous spending before they bitch about practical expenses?
Does that seem weird to you?

Any spending beyond what you make is frivolous except in a time of emergency.
Our Govt is like a person earning 20 hours of over time a week and still racking up debt.
If we could magically cut off all spending on illegals our deficit goes from 1.3 trillion to 1.2 trillion.
That is not really very helpful.

Hahaha...funny shit.
You just can’t bring yourself to speak (type) like any good, real American would....But, but, but....you’re a conservative and you often speak like someone ‘right’ does...haha...ain’t that right HappyJoy ?