U.S. deficit rises 23% in past year as spending rises

[Crepitus]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

This is what you get when people speak out of ANGER and not informed reason... Not your fault entirely because the media neglects to ANALYZE this growing deficit... But it's simple. We KNEW this would happen DECADES ago....

Largest growing fraction of the deficit is the Baby Boomer crisis we were WARNED ABOUT when you were a toddler. It's happening NOW... Both SocSec and Medicare have been in cash flow DEFICIT since about 2010... MANY YEARS AHEAD of the predictions.. We are there... And the reason the deficit is growing is because the govt has LIED about the phony liquidity in the Trust Fund that Congress STOLE AND SPENT for the past 30 years. So every year that SocSec and Medicare have an income shortfall, the money doesn't come from a "trust fund fairy" -- it comes OUT of the Treasury.. And USUALLY as NEW DEBT being issued.

Which MEANS that not only were working Americans ROBBED of the overpayments on Soc Sec and Medicare all their working lives with NO tangible benefit to the FUTURE of these programs, but NOW some of the same working stiff are underwriting NEW DEBT (payable to China and the rest of world) -- which brings us to the OTHER problem..

It's the SPENDING stupid.. Congress continues to blow thru spending caps and RECENTLY -- just ignores them.. EVERY new dollar issued in debt costs taxpayers anywhere from 50 to 100% more than the face value because of interest. And we're making interest payments that are higher than the budgets of about 1/2 of the Federal agencies...

Now WHY -- you ask -- did Obama not EXPLAIN that he was not totally responsible for the rising deficit and FESS UP to the American people? Because NO politician wants to acknowledge that the "Trust Fund" ruse is just a phony accounting gimmick to run up NEW debt. And he was chicken to do that.

Why doesn't Trump do this and lay the problem out for you as simply as I just did? Dunno... He probably has NO plan to deal with the unfunded OFF-BUDGET entitlements and doesn't want to fight that battle right now...

Glad I could help... Try THINKING for yourself a bit more.. It's fun and exhilarating...

And go ahead.. Press for LARGER govt mismanaging LARGE shares of the economy until Congress is running nearly every sector of the economy... Smart........ More "single payer" "universal" everything for every one...

You left out the republican give a away to the rich and the corporations.

THE LARGEST give-away to "the rich and corporations" are the MASSIVE tax breaks that are protected by BOTH parties. Like the "energy star" tax breaks that Dems put in so that GE ends up with a NEGATIVE tax bill...

Or the VERY rich end up getting "mohair subsidies" for having a few hairy animals on their Montana ranch..

That govt/corporate collusion is FAR MORE of a factor in terms of bucks than a couple percent adjustment in the tax brackets..

When you pay almost NO TAXES because youre a favorite of Congress, you don't even WORRY about tax rates....

You need to get the big picture here and stop thinking in terms of left right party loyalties.. Only Libertarians would have the guts to END most tax rebates for products that are ALREADY on the market...

So..... Why did we need another one?

 

[georgephillip]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

Trump's trade war threatens global growth, and he's also widened the domestic wealth/income gap:

IMF: US Trade Wars Are Risk to America's Economy

"The report said the U.S. economy has recovered from the financial crisis that began in 2008, but millions of Americans did not benefit from the recovery.

"Household income increased a meager 2.2 percent from the end of the last century, the report said, while the U.S. economy expanded 23 percent per capita during the same period.

"The poorest 40 percent of households have a level of net wealth that is lower today than it was in 1983," the report said.

"The report called on the Trump administration to avert an economic slowdown by adopting measures to cut public and corporate debt and address inequality.

"On Wednesday, the IMF warned the U.S.-China trade war could cut world economic growth next year."

 

[22lcidw]

So many stupid people yell about Trump and the deficit as if they understand economics. As others have stated Medicare, Social Security makes up a portion of the debt since its coffers were robbed. The cost of illegal immigration is a part of it. ACA is a part of it. All the welfare programs are a part of it. Even intrest on the debt is part of it.

Yet when Trumps administration proposed defunding a part of Snap look at how many went crazy. Anyone want to propose what we cut? Do we cut welfare programs? Do we cut Social Security? Trump proposed that all departments cut their budget by 5%. So many hit the roof.

You have so many trying to make it out to be one side or the other. It is both. But if you look at the current democrat candidates most of them are attempting to buy votes by exploding the debt so in this case I believe you could point to Dems as being major spenders.

Why in earth would we be running a deficit with a booming economy?

Obama borrowed money to prop up an economy on the brink of depression and the Republicans threw a fit

They just slashed taxes......why run a deficit at all?

We all need to live within our means. It how to do it. And that is difficult. I am getting older. How much does a senior citizen cost in medical care until death? Even paying social security and medicare for decades how much medical care should a person receive before it gets insane in costs?

 

[Eric Arthur Blair]

Where, oh where is the Tea Party?

Oh, i know
They only protest when a black man is President

You mean a black man looking to nationalize and socialize the entire US health industry putting trillions of dollars under the control of the government don't you?

I just wanted to correct you so you didn't look like a dishonest partisan ass. Sorry.

 

[Jets]

“Reducing the deficit” is nothing but specious campaign rhetoric to pander for votes. It’s a political talking point.

 

[rightwinger]

So many stupid people yell about Trump and the deficit as if they understand economics. As others have stated Medicare, Social Security makes up a portion of the debt since its coffers were robbed. The cost of illegal immigration is a part of it. ACA is a part of it. All the welfare programs are a part of it. Even intrest on the debt is part of it.

Yet when Trumps administration proposed defunding a part of Snap look at how many went crazy. Anyone want to propose what we cut? Do we cut welfare programs? Do we cut Social Security? Trump proposed that all departments cut their budget by 5%. So many hit the roof.

You have so many trying to make it out to be one side or the other. It is both. But if you look at the current democrat candidates most of them are attempting to buy votes by exploding the debt so in this case I believe you could point to Dems as being major spenders.

Why in earth would we be running a deficit with a booming economy?

Obama borrowed money to prop up an economy on the brink of depression and the Republicans threw a fit

They just slashed taxes......why run a deficit at all?

We all need to live within our means. It how to do it. And that is difficult. I am getting older. How much does a senior citizen cost in medical care until death? Even paying social security and medicare for decades how much medical care should a person receive before it gets insane in costs?

It is not the people running up a $23 trillion debt

It is irresponsible Government pandering to special interests
Democrats pander to people who say......I want to eat
Republicans pander to people who say.....I want more money

 

[Dana7360]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

Did you have a hissy fit when Bawwy piled on the debt?

Which President Increased U.S. Debt the Most?

View attachment 269262

Another far right radical extremist who doesn't know the meaning of words in the English language or the difference between deficit and debt. They aren't the same.

The OP was talking about deficit. Which Obama was handed a record high in deficit of 1.4 trillion dollars by the bush boy. In 8 years Obama slashed that deficit by 1 trillion dollars down to 400 and something billion.

The bush boy and republicans handed Obama the worst economy since the republican great depression. Spending was the only solution to get us out of that mess. Obama got us out of that mess.

Which is what has been happening for a very long time. Republicans create a huge mess and democrats come behind them to clean it all up.

Learn the meaning of words in the English language before posting so you don't show all intelligent people in cyberspace just how stupid you are.

 

[flacaltenn]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

This is what you get when people speak out of ANGER and not informed reason... Not your fault entirely because the media neglects to ANALYZE this growing deficit... But it's simple. We KNEW this would happen DECADES ago....

Largest growing fraction of the deficit is the Baby Boomer crisis we were WARNED ABOUT when you were a toddler. It's happening NOW... Both SocSec and Medicare have been in cash flow DEFICIT since about 2010... MANY YEARS AHEAD of the predictions.. We are there... And the reason the deficit is growing is because the govt has LIED about the phony liquidity in the Trust Fund that Congress STOLE AND SPENT for the past 30 years. So every year that SocSec and Medicare have an income shortfall, the money doesn't come from a "trust fund fairy" -- it comes OUT of the Treasury.. And USUALLY as NEW DEBT being issued.

Which MEANS that not only were working Americans ROBBED of the overpayments on Soc Sec and Medicare all their working lives with NO tangible benefit to the FUTURE of these programs, but NOW some of the same working stiff are underwriting NEW DEBT (payable to China and the rest of world) -- which brings us to the OTHER problem..

It's the SPENDING stupid.. Congress continues to blow thru spending caps and RECENTLY -- just ignores them.. EVERY new dollar issued in debt costs taxpayers anywhere from 50 to 100% more than the face value because of interest. And we're making interest payments that are higher than the budgets of about 1/2 of the Federal agencies...

Now WHY -- you ask -- did Obama not EXPLAIN that he was not totally responsible for the rising deficit and FESS UP to the American people? Because NO politician wants to acknowledge that the "Trust Fund" ruse is just a phony accounting gimmick to run up NEW debt. And he was chicken to do that.

Why doesn't Trump do this and lay the problem out for you as simply as I just did? Dunno... He probably has NO plan to deal with the unfunded OFF-BUDGET entitlements and doesn't want to fight that battle right now...

Glad I could help... Try THINKING for yourself a bit more.. It's fun and exhilarating...

And go ahead.. Press for LARGER govt mismanaging LARGE shares of the economy until Congress is running nearly every sector of the economy... Smart........ More "single payer" "universal" everything for every one...

You left out the republican give a away to the rich and the corporations.

THE LARGEST give-away to "the rich and corporations" are the MASSIVE tax breaks that are protected by BOTH parties. Like the "energy star" tax breaks that Dems put in so that GE ends up with a NEGATIVE tax bill...

Or the VERY rich end up getting "mohair subsidies" for having a few hairy animals on their Montana ranch..

That govt/corporate collusion is FAR MORE of a factor in terms of bucks than a couple percent adjustment in the tax brackets..

When you pay almost NO TAXES because youre a favorite of Congress, you don't even WORRY about tax rates....

You need to get the big picture here and stop thinking in terms of left right party loyalties.. Only Libertarians would have the guts to END most tax rebates for products that are ALREADY on the market...

So..... Why did we need another one?

That went over your head like a garter snake in a windstorm.... BY FAR -- the larger "corporate give-away" are the eco and farm credits that both parties love...

Why we need ANOTHER UNIVERSAL tax policy is because those all those HUMONGEOUS tax credits are TARGETED towards only a MINUTE fraction of companies.. It's the OTHER 95% of companies that benefit from fiddling with the brackets. And by removing some of the loopholes that only benefit the LARGE companies, (which was also done in the tax pkg) ---- even SMALL companies can benefit.. Not just GE and green energy and Amazon....

Govt shouldn't have the power to pick market winners/losers. It stifles competition and CRUSHES the formation of better ideas and companies..

You're another data point in my thesis that leftists don't know SHIT about how things work or what's goin on...

 

[flacaltenn]

“Reducing the deficit” is nothing but specious campaign rhetoric to pander for votes. It’s a political talking point.

Specious because ????

A) It does not matter..

OR

B) Because nobody in political leadership is actually committed to DO anything about it...

 

[Jets]

“Reducing the deficit” is nothing but specious campaign rhetoric to pander for votes. It’s a political talking point.

Specious because ????

A) It does not matter..

OR

B) Because nobody in political leadership is actually committed to DO anything about it...

B

 

[Crepitus]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

This is what you get when people speak out of ANGER and not informed reason... Not your fault entirely because the media neglects to ANALYZE this growing deficit... But it's simple. We KNEW this would happen DECADES ago....

Largest growing fraction of the deficit is the Baby Boomer crisis we were WARNED ABOUT when you were a toddler. It's happening NOW... Both SocSec and Medicare have been in cash flow DEFICIT since about 2010... MANY YEARS AHEAD of the predictions.. We are there... And the reason the deficit is growing is because the govt has LIED about the phony liquidity in the Trust Fund that Congress STOLE AND SPENT for the past 30 years. So every year that SocSec and Medicare have an income shortfall, the money doesn't come from a "trust fund fairy" -- it comes OUT of the Treasury.. And USUALLY as NEW DEBT being issued.

Which MEANS that not only were working Americans ROBBED of the overpayments on Soc Sec and Medicare all their working lives with NO tangible benefit to the FUTURE of these programs, but NOW some of the same working stiff are underwriting NEW DEBT (payable to China and the rest of world) -- which brings us to the OTHER problem..

It's the SPENDING stupid.. Congress continues to blow thru spending caps and RECENTLY -- just ignores them.. EVERY new dollar issued in debt costs taxpayers anywhere from 50 to 100% more than the face value because of interest. And we're making interest payments that are higher than the budgets of about 1/2 of the Federal agencies...

Now WHY -- you ask -- did Obama not EXPLAIN that he was not totally responsible for the rising deficit and FESS UP to the American people? Because NO politician wants to acknowledge that the "Trust Fund" ruse is just a phony accounting gimmick to run up NEW debt. And he was chicken to do that.

Why doesn't Trump do this and lay the problem out for you as simply as I just did? Dunno... He probably has NO plan to deal with the unfunded OFF-BUDGET entitlements and doesn't want to fight that battle right now...

Glad I could help... Try THINKING for yourself a bit more.. It's fun and exhilarating...

And go ahead.. Press for LARGER govt mismanaging LARGE shares of the economy until Congress is running nearly every sector of the economy... Smart........ More "single payer" "universal" everything for every one...

You left out the republican give a away to the rich and the corporations.

THE LARGEST give-away to "the rich and corporations" are the MASSIVE tax breaks that are protected by BOTH parties. Like the "energy star" tax breaks that Dems put in so that GE ends up with a NEGATIVE tax bill...

Or the VERY rich end up getting "mohair subsidies" for having a few hairy animals on their Montana ranch..

That govt/corporate collusion is FAR MORE of a factor in terms of bucks than a couple percent adjustment in the tax brackets..

When you pay almost NO TAXES because youre a favorite of Congress, you don't even WORRY about tax rates....

You need to get the big picture here and stop thinking in terms of left right party loyalties.. Only Libertarians would have the guts to END most tax rebates for products that are ALREADY on the market...

So..... Why did we need another one?

That went over your head like a garter snake in a windstorm.... BY FAR -- the larger "corporate give-away" are the eco and farm credits that both parties love...

Why we need ANOTHER UNIVERSAL tax policy is because those all those HUMONGEOUS tax credits are TARGETED towards only a MINUTE fraction of companies.. It's the OTHER 95% of companies that benefit from fiddling with the brackets. And by removing some of the loopholes that only benefit the LARGE companies, (which was also done in the tax pkg) ---- even SMALL companies can benefit.. Not just GE and green energy and Amazon....

Govt shouldn't have the power to pick market winners/losers. It stifles competition and CRUSHES the formation of better ideas and companies..

You're another data point in my thesis that leftists don't know SHIT about how things work or what's goin on...

So how did tRump's liitle $1,500,000,000,000.00 give-a-way solve any of that?

 

[airplanemechanic]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

Did he create the whole debt? Isn't the Democrat house in charge of money like they bragged about?

It's obvious not on their radar with all the free shit and give-aways that they are pandering about for votes. And that is TRULY scary...

So this naive OPoster really offers NOTHING to fix this at all.. IN FACT, because we're stuck with 2 parties pandering for power -- this is never gonna get fixed within a 2 party system...

It's never going to get fixed for two reasons:

1. Both sides point fingers and say "well they ran up the debt too!"

2. Neither side wants to be the one to deprive granny of her pension or blacks of their food stamps.

 

[rightwinger]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

Did he create the whole debt? Isn't the Democrat house in charge of money like they bragged about?

It's obvious not on their radar with all the free shit and give-aways that they are pandering about for votes. And that is TRULY scary...

So this naive OPoster really offers NOTHING to fix this at all.. IN FACT, because we're stuck with 2 parties pandering for power -- this is never gonna get fixed within a 2 party system...

It's never going to get fixed for two reasons:

1. Both sides point fingers and say "well they ran up the debt too!"

2. Neither side wants to be the one to deprive granny of her pension or blacks of their food stamps.

Or the military a new carrier

 

[task0778]

Politicians don't get voted out of office for spending more money, as long as their constituents get some of it. Or think they do. The story goes that McConnell told Trump that, and it must have resonated. So, the good news for most of us is that we got to keep more of our money thanks to the Trump tax cuts, and the economy is doing much better under Trump' policies than it did under Obama's.

The bad news is that the national debt and deficits are heading north and that ain't good. And don't give me this crap that the Dems under Hillary would have done better, they would've spent even more money than Trump did. God help us if they ever gain control of the WH and Congress.

 

[whitehall]

Did the deficit ever rise during the Hussein administration? You bet your ass but the radical left kept silent while we got nothing for it and unemployment was in double digits.

 

[Mikeoxenormous]

To whom is the debt owed?

Mainly China but also Russia to large part.

No, it isn’t Russia or China. It’s the Social Security Trust Fund of the United States. Our congress has been taking the money from the fund for years to fund their socialist programs. In its place they leave IOUs backed by the US tax payers. That’s right, the very same tax payers who put the money in the fund to begin with.

Imagine if you had a personal IRA. You’ve spent years saving money in your IRA, and then somebody starts spending the money and replacing it with an IOU that you then have to pay.

The U.S. debt to China is $1.11 trillion as of April 2019. That's 27% of the $4.06 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $22 trillion national debt is ownedby either the American people or by the U.S. government itself.

There has never been a national social security lock box, the government takes in so much a year and must spend so much a year. It either has a surplus thus having to give much of it back, through tax breaks, or runs a deficit, then it either must cut programs or raise taxes. This has been the idea of the left since Progs got in office to bankrupt the US then it can turn it into a Socialist country like Cuba or Venezuela.

Cloward–Piven strategy. The Cloward–Piven strategy is a political strategy outlined in 1966 by American sociologists and political activists Richard Cloward and Frances Fox Piven that called for overloading the U.S. public welfare system in order to precipitate a crisis that would lead to a replacement of the welfare system...
Cloward–Piven strategy - Wikipedia
en.wikipedia.org/wiki/Cloward_and_Piven

 

[rightwinger]

Did the deficit ever rise during the Hussein administration? You bet your ass but the radical left kept silent while we got nothing for it and unemployment was in double digits.

The Great Obama cut the deficit in half

 

[jasonnfree]

Raising the ceiling on social security taxation would be a step towards preserving social security.

Presidential hopeful Bernie Sanders wants to reform Social Security — here’s how

 

[flacaltenn]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

Did he create the whole debt? Isn't the Democrat house in charge of money like they bragged about?

It's obvious not on their radar with all the free shit and give-aways that they are pandering about for votes. And that is TRULY scary...

So this naive OPoster really offers NOTHING to fix this at all.. IN FACT, because we're stuck with 2 parties pandering for power -- this is never gonna get fixed within a 2 party system...

It's never going to get fixed for two reasons:

1. Both sides point fingers and say "well they ran up the debt too!"

2. Neither side wants to be the one to deprive granny of her pension or blacks of their food stamps.

And neither side wants to come out and cop to the crime of stealing surplus FICA tax for decades, spending it and then LYING to the public about the OODLES OF CASH sitting in a "trust fund"... We're creating NEW DEBT from SS and Medicare at a rate of $300Bill or more a year and rising.. You NEVER HEAR THIS...

Cutting tax subsidies for products that already exist on the market AND that benefit actually very few companies and exclude BETTER products and companies, would ACTUALLY make a huge dent.. Raise about $180 to $300Bill more per year in tax revenue.. But that means cutting tax breaks on energy efficient appliances, ethanol, and other green stuff.. As well as making a dent in farm subsidies that aren't major food crops.. .

Telling the truth on entitlements is important.. Because the Repubs DID try to improve the finances of FUTURE SocSec, by proposing a voluntary fractional "opt-out".. In exchange for reduced benefits. And that would have USED the "excess FICA" to benefit Soc Sec and stopped SOME of the grand larceny going on in Congress..

Guess which other party demagogued that rescue plan to death and killed it while SS was STILL running surpluses... Could not be done now..

Bottom line is -- only Independents and Libertarians would have the deficit and fixing entitlements as a PRIORITY action...

 

[leftwinger]

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.
For fuck sakes! What a gong show!

This is what people get for putting the orange clown, Trump, who has bankrupted numerous businesses including a $3 Billion dollar casino disaster! Does good business sense me nothing to Republicans?

Did you have a hissy fit when Bawwy piled on the debt?

Which President Increased U.S. Debt the Most?

View attachment 269262

Another far right radical extremist who doesn't know the meaning of words in the English language or the difference between deficit and debt. They aren't the same.

The OP was talking about deficit. Which Obama was handed a record high in deficit of 1.4 trillion dollars by the bush boy. In 8 years Obama slashed that deficit by 1 trillion dollars down to 400 and something billion.

The bush boy and republicans handed Obama the worst economy since the republican great depression. Spending was the only solution to get us out of that mess. Obama got us out of that mess.

Which is what has been happening for a very long time. Republicans create a huge mess and democrats come behind them to clean it all up.

Learn the meaning of words in the English language before posting so you don't show all intelligent people in cyberspace just how stupid you are.

I have seen about enough of you economic hogwash in here and other threads. You are close to the list as is possible. If you were not so incompetent I would just put you on now? But it is sort of like executing a mentally ill that knows not what he does. Tread lightly, another warning is unlikely. Forgot to add: this one claims to have worked in Economics? I read some other real interesting stuff elsewhere from this one. I took note. Got some oldlady in her.

1/2Black BO was in the Senate doing nothing in 2007 when Dems took over and did nothing to prevent the crash they setup. They used that as an excuse to raid the treasury of a quick $6T. Nothing to show for all that.