Consumer confidence at an 18 year high
This means unless the GOP ROYALLY SCREWS UP CLEAN PATH TO MAINTAINING CONGRESSIONAL CONTROL
https://www.nasdaq.com/article/consumer-confidence-jumps-to-18-year-high-etfs-to-watch-cm972510
What's the Deficit?
Simple... Daddy remortgaged the house to bring the kids to Disneyland... Kids are very happy....
Remember how you were in hyperbolic meltdown over that with W, you didn't give a shit about it under Obama, and now you're in hyperbolic meltdown over it with Trump again?
I'm thinking there may be some sort of pattern there. I'm trying to figure out what it could be ...
It’s simply this: 1. You spend during a recession and cut during a boom; and 2. Don’t spend without a means to pay for the program.
W created Medicare Part D without paying for it. He created the Department of Homeland Security, without paying for it. And he started two major wars, without paying for them. So while W took over a balanced budget, he left with the largest deficit in history and the economy in freefall.
Obama took over that deficit and Bush’s unfounded wars as the economy was shedding 500,000 jobs a month in the worst recession since the Great Depression. The US was still involved in two unfunded wars, Medicare Part D was the law of the land, and revenues were falling through the floor.
At such times, increasing taxes would worsen the recession, as would cutting spending. An increase in deficit spending is required to “prime the pump of the recovery”. It was either that or watch the entire auto industry fail with the concurrent loss of jobs, together with the some of the largest financial institutions in the country going under, the economy could not have survived.
Through the final 6 years of his Presidency, Obama cut spending and reduced the deficit such that it was below one billion dollars when he left office.
Blessed with taking over a boom economy, Trump has set about to wreck it by deficit spending in a boom, going on a massive jobs stimulus program with full employment, and incurring the largest deficits in history to do so.
I have no issues with tax cuts in a balanced budget. But tax cuts on the credit card for billionaires who are awash in cash makes no fiscal sense at all.
Stimulating growth in a time of the greatest sustained growth in American history, when millions of jobs are going unfilled, makes no sense at all.
Doing so with deficit spending risks plunging the economy into a permanent recession as interest rates rise and a larger and larger portion of the budget is devoted to interest on the debt.