U.S. Posts Largest-Ever Monthly Budget Deficit in February

Discussion in 'Politics' started by Denizen, Mar 23, 2019.

  1. Denizen
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    Denizen Silver Member

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    The budget deficit keeps getting bigger and bigger as tax revenues continue to fall.

    The USA is in a bad place if a recession hits because the government's capability to use fiscal policy to defend against a recession will be severely impaired by the huge budget deficits.

    The government debt keeps accumulating and it won't be long before the interest payments are so high the debt is self-sustaining with positive feedback causing acceleration of debt accumulation.

    Trump has trashed world trade with his trade war which could have further negative consequences.

    Bloomberg - Are you a robot?

     
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  2. Oddball
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    Oddball Unobtanium Member Supporting Member

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    Wasn't any big deal to you moonbat asswipes when eight years of deficits under Oboingo doubled the federal debt, so why does it matter now?
     
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  3. my2¢
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    my2¢ So it goes.

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    Democrats and Republicans don't want to deal with the deficit, just point the finger. Administration by administration, it has been one disaster after another.
     
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  4. Daryl Hunt
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    Daryl Hunt Gold Member Gold Supporting Member Supporting Member

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    Let's take a fast look. Okay, more jobs are being done. It shows in the unemployment roles. Now, here is the truth.

    Only those actively looking are counted on that role. The ones that just gave up and went home are no longer counted.

    Yes, there are more jobs. But it's not necessarily being done by more people. We have had a slight decrease in full time employment but a huge increase in part time employment. Walmat used to have 60% full time and 40% part time workers. But right around 2010, they changed to 40 full time and 60 part time. How do I know this? I used to work for that sorry company. Today, the ratio for part time versus full time is even worse in Walmart and many are afraid for their jobs even if they are only working part time. Couples work there so that both of them can have an income equal to a full time job. The part time jobs are counted with the same levy that the full time jobs are on the Employment Listings you keep hearing about doing so well.

    More people are working 2 part time jobs or sometimes 3 in a given household.

    Those people are also slowly sinking. Even with the minimum wage increases, the cost of living outstrips the COL. Each year, they sink further into being poor. The Middle Class is all but gone.

    In the 60s, we didn't count part time work against the employed listings. You had to have a full time job. Mostly, it was the man that worked and the women weren't counted. The reported employment rate was hovering right around 6 percent. Today, the employment rate is listed right around 5 percent give or take. This is for all men and women. Now, let's remove the part time jobs from the count. All of a sudden we are at about a 25% unemployment rate using the same way it used to be reported even with counting women in the figures. The Unemployment rate during the depression before the CCC and WPA was 24%. What is the difference? We, the Sheep are told we are doing better. The Government is lying out of it's ass to prevent panic. That's the only difference between a recession and a depression.

    If you are doing better, good for you but the majority of the country is slowly slipping.



    And don't bother screaming, "Cite, Cite, Cite" this has already been covered over and over. Each and every point. And that generates more "Jobs" but less taxable income. In otherwords, deficits grow.
     
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  5. sparky
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    sparky Gold Member

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    Bravo Daryl!

    Perspective , especially the broader overall objective , is something most do not have when debating economics

    Most are 'point in time' , the (insert potus) administration , offer ludicrous if not misleading accountability

    ~S~
     
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  6. mr jones
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    mr jones BANNED

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    Does it matter to you that everything you just spewed is an easily disproven lie? I bet not. You trump stooges avoid facts like you avoid bath water- here are some facts to go along with your bizarre right wing fake media garbage-

    President Bush's last budget, for Fiscal Year 2009, created a deficit of $1.16 trillion. That fiscal year began on October 1, 2008, and continued until September 30, 2009. Although most of that deficit occurred after Obama took office, it was a result of Bush's budget.


    Similarly, the first deficit that occurred after President Trump took office was due to Obama's last budget. Here are the deficits by year that can accurately be attributed to Obama.


    FY 2009 - Even though the budget had been approved, Congress added emergency funding to stop the Great Recession. It added the first year's spending from Obama's Economic Stimulus Act to the FY 2009 budget. That $253 billion accrues to Obama.
    FY 2010 - Obama's first budget created a $1.294 trillion deficit.
    FY 2011 - This budget deficit was $1.3 trillion. Defense spending hit $855 billion. Republicans stalled on raising the debt ceiling, creating a debt ceiling crisis.
    FY 2012 - The deficit was $1.087 trillion.
    FY 2013 - This was the first Obama budget where the deficit, $679 billion, was less than $1 trillion. Thank sequestration. It forced a 10 percent cut in spending.
    FY 2014 - The deficit was $485 billion. Tax revenue rose to $3.02 trillion.
    FY 2015 - The deficit fell further to $438 billion.
    FY 2016 - The deficit rose to $585 billion. Congress added $58.6 billion to pay for the Afghanistan War.
    FY 2017 - The deficit was $666 billion. Congress added $100 billion to Obama's budget request after Trump took office.
    I know, like most trumpster divers, you are mathematically challenged, so I added up the deficits for each year under Obama and the result is 6.352 trillion added to the debt due to Obama's budgets. Any other additions to the public debt is not attributable to any president's budgets, but non-discretionary items such as interest and social security outlays and the like.
     
  7. Golfing Gator
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    Golfing Gator Platinum Member

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    spoken like the true Trump sheep that you are.
     
  8. Golfing Gator
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    Golfing Gator Platinum Member

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    Now, lets add some facts to you little fantasy...https://www.advisorperspectives.com...the-ratio-of-part-time-employed-february-2019

    upload_2019-3-24_7-42-37.png
     
  9. Crepitus
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    Crepitus Gold Member

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    Question!

    Reading your link does not tell us whether the 35 hour cutoff to be considered full time must be achieved in a single job. I ask because I know a number of people with two jobs.
     
  10. Golfing Gator
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    Golfing Gator Platinum Member

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    Two part time jobs do not equal a full time job.


    Sent from my iPhone using USMessageBoard.com
     

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