White House claims borrowing 16 trillion over the next 10 years is fiscally responsible

[tyroneweaver]

Every President thinks as long as the big collapse doesn’t happen under me... I’m safe

The White House claims borrowing $16 trillion over the next decade is fiscally responsible

If you can't even get close to balancing the budget when unemployment is low, tax revenues are near record highs, and the economy is booming, when can you do it?

reason.com

 

[kyzr]

Every President thinks as long as the big collapse doesn’t happen under me... I’m safe

The collapse is coming. Nikki Haley had the best Budget ideas. We really do need an ACCOUNTANT in the WH.

Republicans need to get the Budget back to a $4.xT ASAP.

Biden's 2024 Budget ~is $7.30T withe a $2.0T deficit
Biden's 2023 Budget was $6.13T with a $1.7T deficit
Biden's 2022 Budget was $6.27T with a $1.4T deficit
Biden's 2021 Budget was $6.82T with a $2.8T deficit
Trump's 2020 Budget was $6.55T with a $3.1T deficit
Trump's 2019 Budget was $6.55T with a $3.1T deficit
Trump's 2018 Budget was $4.10T with a $0.8T deficit
Trump's 2017 Budget was $4.00T with a $0.5T deficit

 

[Mac1958]

Nice to see the GQP suddenly so concerned about this, after the spending spree of the former guy.

The two parties need to work together on both spending and taxing. Until they grow up and do that, this continues.

 

[TNHarley]

It will never get better. The country is too entitled and is ok with spending us into oblivion as long as its their guy in the WH.
Congratulations you fucking morons.

 

[BluesLegend]

White House claims borrowing 16 trillion over the next 10 years is fiscally responsible​

Democrats will NOT be denied their PORK even if it bankrupts the country and destroys the people economically. Without the pork spending they couldn't bribe anyone to vote for them.

 

[BluesLegend]

The collapse is coming. Nikki Haley had the best Budget ideas. We really do need an ACCOUNTANT in the WH.

Republicans need to get the Budget back to a $4.xT ASAP.

Biden's 2024 Budget ~is $7.30T withe a $2.0T deficit
Biden's 2023 Budget was $6.13T with a $1.7T deficit
Biden's 2022 Budget was $6.27T with a $1.4T deficit
Biden's 2021 Budget was $6.82T with a $2.8T deficit
Trump's 2020 Budget was $6.55T with a $3.1T deficit
Trump's 2019 Budget was $6.55T with a $3.1T deficit
Trump's 2018 Budget was $4.10T with a $0.8T deficit
Trump's 2017 Budget was $4.00T with a $0.5T deficit

Like every damn empire in all of human history, the leaders are going to bankrupt us.

 

[Toddsterpatriot]

Nice to see the GQP suddenly so concerned about this, after the spending spree of the former guy.

The two parties need to work together on both spending and taxing. Until they grow up and do that, this continues.

Isn't Biden about to surpass Trump's addition to the debt?

 

[kyzr]

Democrats will NOT be denied their PORK even if it bankrupts the country and destroys the people economically. Without the pork spending they couldn't bribe anyone to vote for them.

Its up to Mike Johnson and the GOP hardliners to stand fast on cutting spending, even if it means the government shuts down.

 

[SeaMajor7]

Borrow from Whom????

CLOWN WORLD

Ancient Rome weeps....

 

[Flash]

Ole Potatohead is adding a trillion dollars to the debt every 100 days and all we are getting for it are rampant inflation, high energy prices, higher interest rates, decreased family income, a few part time minimal wage jobs. Oh, I forgot, millions of Illegal welfare queens, a weakened military and more welfare to foreign nations, not to mention worthless Environmental Wacko projects and funding gender studies in Third World countries.

 

[BluesLegend]

Its up to Mike Johnson and the GOP hardliners to stand fast on cutting spending, even if it means the government shuts down.

My spineless GOP meter just pegged. You have to give Dems credit, they will burn the country to ash and kill Americans to achieve their goals. The GOP has no spine.

 

[kyzr]

Like every damn empire in all of human history, the leaders are going to bankrupt us.

True.
I'm not sure if Trump's budget would be any different than Bidens.
I remember Mnuchin and Trump saying the tax cuts would grow the economy to 5%. It didn't.

I still like Nikki Haley's Budget ideas, but the lemmings prefer Trump and Biden.

 

[BluesLegend]

True.
I'm not sure if Trump's budget would be any different than Bidens.
I remember Mnuchin and Trump saying the tax cuts would grow the economy to 5%. It didn't.

I still like Nikki Haley's Budget ideas, but the lemmings prefer Trump and Biden.

Sadly Trump's solution is the only feasible solution left, aggressive economic growth with large reductions in government regulations. The problem is so large now spending cuts and tax increases won't work.

 

[Dekster]

Raise taxes then. We either borrow it or we tax it.

 

[task0778]

White House claims borrowing 16 trillion over the next 10 years is fiscally responsible​

I think the $16 trillion debt number is greatly underestimated. They always overestimate the revenue and underestimate the spending, $20 trillion is probably closer to reality and even that is could be underestimated. And that is a very long way from being fiscally responsible.

 

[kyzr]

Sadly Trump's solution is the only feasible solution left, aggressive economic growth with large reductions in government regulations. The problem is so large now spending cuts and tax increases won't work.

There is no way to "grow the economy". The Trump tax cuts just grew the Debt to the tune of $8T.

Here's my solution.

• Close all tax loop-holes +$1.5T (might get 1/3 of these, net $500b)
  Fix SS net zero (raise the cap as needed, net zero)
  Fix Medicare net zero (need $500b to get thru 2040, net zero)
  Send Medicaid to the states +$500b (off the Fed Budget, net -$500b)
• Add new 0.2% financial transaction tax +$150b (this tax works in the EU) net -$650b)
• Add new remittance tax on money sent out of the US +$6b (pays for the wall and ICE AND CBP)
• Remove Capital Gains Tax loop-hole +$100b/yr (tax as regular income, net -$750b)
  Send Welfare to the states +$1.3T (get the MFs to work) net -$2.05T)
  Send Education to the states +$300b (not a Fed responsibility) net -$2.35T)
  Collect all taxes owed +$400b (actually getting 1/2 would be an achievement) net -$2.55T)

So even with my brutal budget cuts we an get to a $550b surplus to start paying down the $35T Debt.
The States would need to put people to work and pay taxes or the social safety net vanishes.

• https://www.crfb.org/blogs/irs-loses-400-billion-year-unpaid-taxes

 

[Toddsterpatriot]

There is no way to "grow the economy". The Trump tax cuts just grew the Debt to the tune of $8T.

Here's my solution.

• Close all tax loop-holes +$1.5T (might get 1/3 of these, net $500b)
  Fix SS net zero (raise the cap as needed, net zero)
  Fix Medicare net zero (need $500b to get thru 2040, net zero)
  Send Medicaid to the states +$500b (off the Fed Budget, net -$500b)
• Add new 0.2% financial transaction tax +$150b (this tax works in the EU) net -$650b)
• Add new remittance tax on money sent out of the US +$6b (pays for the wall and ICE AND CBP)
• Remove Capital Gains Tax loop-hole +$100b/yr (tax as regular income, net -$750b)
  Send Welfare to the states +$1.3T (get the MFs to work) net -$2.05T)
  Send Education to the states +$300b (not a Fed responsibility) net -$2.35T)
  Collect all taxes owed +$400b (actually getting 1/2 would be an achievement) net -$2.55T)

So even with my brutal budget cuts we an get to a $550b surplus to start paying down the $35T Debt.
The States would need to put people to work and pay taxes or the social safety net vanishes.

• https://www.crfb.org/blogs/irs-loses-400-billion-year-unpaid-taxes

View attachment 916712

Add new 0.2% financial transaction tax +$150b (this tax works in the EU) net -$650b)

Which countries does it work in? How much does it raise? Link?

 

[tyroneweaver]

True.
I'm not sure if Trump's budget would be any different than Bidens.
I remember Mnuchin and Trump saying the tax cuts would grow the economy to 5%. It didn't.

I still like Nikki Haley's Budget ideas, but the lemmings prefer Trump and Biden.

congress is not in the mood for tax cuts so trump won't win on this one

 

[Mac1958]

Isn't Biden about to surpass Trump's addition to the debt?

And the standard and predictable attempt at deflection. As I clearly said, BOTH parties have a hand in this. BOTH.

But I know you can't give an inch. Your complete submission to your ideology doesn't allow it. So find a lefty who can't give an inch and play with them. This shit bores me, sorry.

 

[Votto]

Every President thinks as long as the big collapse doesn’t happen under me... I’m safe

The White House claims borrowing $16 trillion over the next decade is fiscally responsible

If you can't even get close to balancing the budget when unemployment is low, tax revenues are near record highs, and the economy is booming, when can you do it?

reason.com

Nice, that should spike inflation even further.