Under trump deficit tops 21 trillion for first time

[Papageorgio]

Neither party can control their spending and both party’s dismiss their own spend, both are hypocrites, both have failed the American people, yetthe vast majority of people support these two parties.

We are getting what we deserve because we aren’t demanding anything different.

I agree to a point but the US government supports a huge military industrial complex. This sucks an enormous amount of your GDP - twice what every other country in the world spends.

Other countries have invested in their people, their education and care. Americans denigrate their own people on the basis of race, or religion or for politics. Resentments are stoked against the poor for political reasons.

No other country in the first world sets a minimum wage which can’t support a worker. It’s a meaner existence but it provides a roof over your head and three squares a day. Not in the USA.

America was built on cheap labour and your economy has always relied on it over the needs of your own people. First the slaves. When Lincoln freed the slaves, you had “guest workers”, who could be sent home when the economy declined.

Now you have illegals. Republicans have long fought against throwing them out or going after the employers because 11 million illegals are a necessary part to your economy.

You really should read the history of the rise and fall of the Roman Empire. There are so many parallels. Donald Trump is your Caligula.

We need to cut the budget across the board 25% and raise taxes we are so deep in debt that it will be the only way to pay down the deficit. I have read Roman history.

As far as the rest of your post, it is off topic.

I have the perfect plan for balancing the budget.

Every spring after the POTUS submits his budget, adjust the tax rates for the following year for the whole country so that the requested spending is covered plus 5% for paying off the existing debt.

I am betting if we did this that our politicians in DC could find a way to cut spending pretty quickly.

That is a pretty good idea, it would hold them accountable every year, both the President and Congress and would hurt the economy less than my idea. My idea is harsh and I’m not sure we as Americans could handle it.

 

[Tijn Von Ingersleben]

Both parties run up the debt yet people only give dam when the other side does it. The nation has not been debt free since 1835 under Andrew Jackson that lasted a total of one year suffice it to say it doesn't matter which side is in control the debt continues to climb.

That's a whole lot more reasonable than the rhetoric I hear from the right when the left raises the debt/deficit.

I hear pretty much the same type of rhetoric from the left on this topic the right likes to pretend you can solve the problem with just spending cuts the left does the same by pretending taxing the rich more will do it. You want to start to deal with the national debt you would have to have across the board tax hikes and spending cuts with nothing or no one off limits and you would have to do this for decades if they tried this the voters would vote them out in hearbeat. The truth is no one from the sitting President whoever it is to Congress to the voting public wants to do this type of stuff so everyone just sits back and pretends to be outraged over the national debt when it's politically convenient for them but don't really care about it.

I think cuts need to start with the military. We spend more on military than the rest of the world combined. We have bases all over the world and get involved in conflicts we don't need to be involved in. I've never heard what I felt was a reasonable argument for the amount of money we spend on our military.

The only thing that is going to cut our military spending is if we are taken over.

 

[Luddly Neddite]

Yabut ..

About a year ago, President Trump pledged to eliminate the national debt "over a period of eight years." But for the first time in history, the national debt surpassed $21 trillion this week, according to the U.S. Treasury.

OTOH, he also said he would drain the swamp and we all know he's done exactly the opposite.

Just more trump lies.

The only things he does well is lie, hold kkk rallies and pose for photo ops. I purposely left out golf because he cheats and still can't win.

 

[Luddly Neddite]

Both parties run up the debt yet people only give dam when the other side does it. The nation has not been debt free since 1835 under Andrew Jackson that lasted a total of one year suffice it to say it doesn't matter which side is in control the debt continues to climb.

That's a whole lot more reasonable than the rhetoric I hear from the right when the left raises the debt/deficit.

I hear pretty much the same type of rhetoric from the left on this topic the right likes to pretend you can solve the problem with just spending cuts the left does the same by pretending taxing the rich more will do it. You want to start to deal with the national debt you would have to have across the board tax hikes and spending cuts with nothing or no one off limits and you would have to do this for decades if they tried this the voters would vote them out in hearbeat. The truth is no one from the sitting President whoever it is to Congress to the voting public wants to do this type of stuff so everyone just sits back and pretends to be outraged over the national debt when it's politically convenient for them but don't really care about it.

I think cuts need to start with the military. We spend more on military than the rest of the world combined. We have bases all over the world and get involved in conflicts we don't need to be involved in. I've never heard what I felt was a reasonable argument for the amount of money we spend on our military.

The only thing that is going to cut our military spending is if we are taken over.

I agree. The country is being eaten alive by the Pentagon. Now its all about putting more money in the pockets of the 1% owned contractors and war profiteers.

That's why the Rs will continue to protect trump. He will rubber stamp anything they send him and vice versa.

 

[ThoughtCrimes]

Under Trump's watch, national debt tops $21 trillion for first time ever

Just another campaign lie....the GOP has forgotten they stood for fiscal restraint

Deficits only matter when Democrats are in control. The King of Bankruptcy is hard at work.

In 8 years, the Obama administration and congress ran up 10 Trillion in new debt. That calculates to 1.25 Trillion per year. And, that was without major tax cuts or building up our military.

Fiscal restraint is only one element of fiscal responsibility. Long range solvency of the country is another element, and far more important than the first. The only way out of our debt crisis is to grow our way out, and that requires some spending. The fact that uncontrollable entitlement programs are eating up a larger and larger share of our tax revenues makes digging our way out of debt a hard nut to crack.

In 8 years, the Obama administration and congress ran up 10 Trillion in new debt. That calculates to 1.25 Trillion per year. And, that was without major tax cuts or building up our military.

$1.25 Trillion per year in deficits to be added to the debt is one Hell of a lot of tax revenue being budgeted. Let's compare that to what the Orange Clown has done so far with his first budget of FY 2018 which started last October 1 when Obama's last "irresponsible" FY ended on 8-31-17.

The US Debt stood at $19.845 Trillion and as of the last accounting on Treasury's website as of 3-14-18, 165 days later, the US Debt is at $21.031 Trillion. That is an increase of $1.186 Trillion in those 165 days of the Clown-in-Chief's first fiscal year. Annualizing that $1.186 Trillion over 165 days of debt works out to $2.624 Trillion per year, which is more than TWICE that of your debt figure of the Obama presidency. Extending that over an equal 8 year tenure as an average, that would come to $20.992 Trillion for the Orange Wonder! How much of a GDP increase would that take to pay that additional debt down by just 50%? 12%...25%????

It would appear that perhaps you should have dug a little deeper before inferring that tHrump was some sort of economic genius with performance outshining the previous POTUS! The truth is that the "New GOP" doesn't give a Rat's Ass about fiscal responsibility and they're using useful idiots like yourself to shift the blame to just any handy "Goldstein" to scapegoat as a target for your daily two minutes of hate.

Figures from ~~ Government - Debt to the Penny (Daily History Search Application) ~~

 

[Dragonlady]

Under Trump's watch, national debt tops $21 trillion for first time ever

Just another campaign lie....the GOP has forgotten they stood for fiscal restraint

Deficits only matter when Democrats are in control. The King of Bankruptcy is hard at work.

Well, actually, Trump is on target to add less to the debt than Obama or Bush or Reagan or Carter. I mention this on the off chance that you have any concern for fact. The current deficit under Trump ($390 billion) is lower than it was under Obama at any time during his presidency and the 2017 deficit was lower than it was during Obama's first four years.

I realize you fancy yourself some sort of ecomomist but to compare the economics of the Obama Presidency to those of the Trump Presidency is impossible.

Obama took an economy in freefall, shedding 500,000 jobs a month and turned it around.

Trump took over a strong healthy economy and is in the process of destroying everything that made it strong and healthy.

Trump economy > Obama economy.

That much should be clear to everyone. The only question is whether one would admit it. Even in Trump economy there are bunch of people who would rather loot the tax-payers, they really hate the tax cuts and the looming doom of having to work in the future.

At 4% unemployment, the economy is already at full employment. Where are all these people who are living large on the government dole who are going to be forced into the employment market? Children? The elderly?

If Trump’s tax cuts increase American jobs by millions, where are the workers going to come from to fill these jobs?

Why is the American middle class still being forced to provide income subsidies to minimum wage workers by way of earned income subsidies. These kinds of Friedman “reverse income tax” notions aren’t used in mixed economies and are the basis of wealth inequality in the USA.

Earned income credits transfer the provision of a living wage from the employer to the state. Reasonable social democracies require a reasonable minimum wage reducing corporate profits, but resulting in front line workers to more fully participate in the broader economy.

Single payer systems, in one form or another have reduced health care costs while improving the overall health of the nation. US health care policies are actually fueling your opioid crisis.

And in typical wrong headed Republican action, Trump is going after the death penalty for street dealers and ignoring the role of Big Pharma and prescription mills which write the prescriptions driving this epidemic of addiction. Death penalty to Merck executives first.

 

[Papageorgio]

Yabut ..

About a year ago, President Trump pledged to eliminate the national debt "over a period of eight years." But for the first time in history, the national debt surpassed $21 trillion this week, according to the U.S. Treasury.

OTOH, he also said he would drain the swamp and we all know he's done exactly the opposite.

Just more trump lies.

The only things he does well is lie, hold kkk rallies and pose for photo ops. I purposely left out golf because he cheats and still can't win.

Gee, he is another politician and that somehow shocks you? Hillary would by this time have the debt over 21 trillion to, so what is the point?