Congress Approved $2.4 Trillion In Additional Debt During Fiscal Year 2018: Watchdog

[JWBooth]

I’m neither surprised or shocked by this I also know the same thing would have happened under President Hillary Clinton out of control spending is the one trait both parties share.

So where is the "out of control" spending? What areas do you think we should cut back?
The Mandatory spending for Medicare/SS/?
OH right let's continue to decrease the military spending. Right take all the troops out of Asia/Europe?
Where would you cut?

it is all out of control
Cut it all, 15% across the board and go from there.

There isn't a justifiable place not to cut. Then again you could continue to kick the can down the road and watch it all implode.

 

[Aldo Raine]

I’m neither surprised or shocked by this I also know the same thing would have happened under President Hillary Clinton out of control spending is the one trait both parties share.

So where is the "out of control" spending? What areas do you think we should cut back?
The Mandatory spending for Medicare/SS/?
OH right let's continue to decrease the military spending. Right take all the troops out of Asia/Europe?
Where would you cut?

it is all out of control
Cut it all, 15% across the board and go from there.

There isn't a justifiable place not to cut. Then again you could continue to kick the can down the road and watch it all implode.

True that, now try to get Congress to do this or their constituents to agree!

 

[healthmyths]

I’m neither surprised or shocked by this I also know the same thing would have happened under President Hillary Clinton out of control spending is the one trait both parties share.

So where is the "out of control" spending? What areas do you think we should cut back?
The Mandatory spending for Medicare/SS/?
OH right let's continue to decrease the military spending. Right take all the troops out of Asia/Europe?
Where would you cut?

it is all out of control
Cut it all, 15% across the board and go from there.

There isn't a justifiable place not to cut. Then again you could continue to kick the can down the road and watch it all implode.

So all Medicare payments... cut 15%
All SS cut 15%
All defense cut 15%

Let's see what would that do...
The budget for 2019...

• 
  In Fiscal Year 2019, the federal budget will be $4.407 trillion.
  The U.S. government estimates it will receive $3.422 trillion in revenue.
  That creates a $985 billion deficit for October 1, 2018 through September 30, 2019.
  
  Spending is in three categories:
  Mandatory, which is at $2.739 trillion;
  Discretionary at $1.305 trillion; and
  Interest on the National Debt, $363 billion. now you can't CUT the interest payments because that is a contract.

So using your 15% Mandatory cut: Reduce $410.8 billion Plus-- Descretionary $195.7 Billion a total of $606 Billion.....hmmm...

That will still leave a deficit of $378.4 Billion...

Now mind you you cut Mandatory spending that means 15% of Medicare/SS, etc. ok.. based on 50 million Americans on SS/Medicare that works out to $8,217 per person.
That means Medicare payments reduced in health care. Medicare is already underfunded. SS will be depleted by 2036 as payroll taxes on cover 77% of expenditures.

Which President Rang Up the Highest Budget Deficit?

So I don't think your plan will work!

 

[Harpy Eagle]

I’m neither surprised or shocked by this I also know the same thing would have happened under President Hillary Clinton out of control spending is the one trait both parties share.

So where is the "out of control" spending? What areas do you think we should cut back?
The Mandatory spending for Medicare/SS/?
OH right let's continue to decrease the military spending. Right take all the troops out of Asia/Europe?
Where would you cut?

it is all out of control
Cut it all, 15% across the board and go from there.

There isn't a justifiable place not to cut. Then again you could continue to kick the can down the road and watch it all implode.

He does not care if it implodes, he assumes he will he dead before then.


Sent from my iPhone using USMessageBoard.com

 

[Brain357]

I’m neither surprised or shocked by this I also know the same thing would have happened under President Hillary Clinton out of control spending is the one trait both parties share.

So where is the "out of control" spending? What areas do you think we should cut back?
The Mandatory spending for Medicare/SS/?
OH right let's continue to decrease the military spending. Right take all the troops out of Asia/Europe?
Where would you cut?

How about we stop increasing military spending?

 

[healthmyths]

I’m neither surprised or shocked by this I also know the same thing would have happened under President Hillary Clinton out of control spending is the one trait both parties share.

So where is the "out of control" spending? What areas do you think we should cut back?
The Mandatory spending for Medicare/SS/?
OH right let's continue to decrease the military spending. Right take all the troops out of Asia/Europe?
Where would you cut?

How about we stop increasing military spending?

First of all why don't you investigate that first before you make a spur of the moment comment? Is it too much to ask to deal with reality?

What do you think Russia/China/Iran and the billion plus Muslims would do if the USA did the following in order to cut "military spending".
1) All US troops in Asia/Europe would be removed. Could save billions right?
Do you think that Russia/China/Iran would then absorb Asian/European countries?
Do you think that once they absorbed, would they allow the USA to do business with Asian/European countries?

What do you think that would do to our economy?

• International trade, including exports and imports, supports 39.8 million U.S. jobs – more than 1 in 5. These trade-related jobs grew three and a half times faster than total employment from 2004 to 2013 and are at large and small companies, on farms, in factories, and at the headquarters of globally engaged U.S. firms. (See U.S. Jobs Depend On Two-Way Trade)
  
  
•  The United States exported $1.6 trillion in goods and $687.4 billion in services in 2013,
  https://tradepartnership.com/wp-content/uploads/2015/01/US_State_Study.pdf
  

So 40 million jobs depend on international trade as well as nearly $2 trillion in GDP comes from exports.... to Asian/European countries.
And with your plan to cut the military why would Russia/China have any issue in taking over Asian/European countries.

You probably think that is a fantasy.

Well why then is there a NATO or any Asian military alliances with the USA? Let's just do away with them. OK?

OK... So military spending
Post-9/11 Pentagon spending peaked in 2009 at more than $691 billion —
a combination of the Defense Department's request for basic funds and the supplemental request it made for wartime spending.
Last year (2015) , those two accounts amounted to just over $580 billion (though the Stockholm International Peace Institute, or SIPRI,
put total U.S. spending on its military in 2015 slightly higher at $596 billion). Meanwhile, every dollar buys less than it used to.
Fact Check: Has President Obama 'Depleted' The Military?

 

[g5000]

There was a point toward the end of Dubya's administration that we were spending more tax dollars on defense than we were in World War II, adjusted for inflation.

And we weren't in a World War.

 

[danielpalos]

taxation is theft

Government is Socialism.

And socialism is a collectivist evil.

Socialism merely requires social morals for free to achieve a Commune of Heaven on Earth.

 

[Brain357]

I’m neither surprised or shocked by this I also know the same thing would have happened under President Hillary Clinton out of control spending is the one trait both parties share.

So where is the "out of control" spending? What areas do you think we should cut back?
The Mandatory spending for Medicare/SS/?
OH right let's continue to decrease the military spending. Right take all the troops out of Asia/Europe?
Where would you cut?

How about we stop increasing military spending?

First of all why don't you investigate that first before you make a spur of the moment comment? Is it too much to ask to deal with reality?

What do you think Russia/China/Iran and the billion plus Muslims would do if the USA did the following in order to cut "military spending".
1) All US troops in Asia/Europe would be removed. Could save billions right?
Do you think that Russia/China/Iran would then absorb Asian/European countries?
Do you think that once they absorbed, would they allow the USA to do business with Asian/European countries?

What do you think that would do to our economy?

• International trade, including exports and imports, supports 39.8 million U.S. jobs – more than 1 in 5. These trade-related jobs grew three and a half times faster than total employment from 2004 to 2013 and are at large and small companies, on farms, in factories, and at the headquarters of globally engaged U.S. firms. (See U.S. Jobs Depend On Two-Way Trade)
  
  
•  The United States exported $1.6 trillion in goods and $687.4 billion in services in 2013,
  https://tradepartnership.com/wp-content/uploads/2015/01/US_State_Study.pdf

So 40 million jobs depend on international trade as well as nearly $2 trillion in GDP comes from exports.... to Asian/European countries.
And with your plan to cut the military why would Russia/China have any issue in taking over Asian/European countries.

You probably think that is a fantasy.

Well why then is there a NATO or any Asian military alliances with the USA? Let's just do away with them. OK?

OK... So military spending
Post-9/11 Pentagon spending peaked in 2009 at more than $691 billion —
a combination of the Defense Department's request for basic funds and the supplemental request it made for wartime spending.
Last year (2015) , those two accounts amounted to just over $580 billion (though the Stockholm International Peace Institute, or SIPRI,
put total U.S. spending on its military in 2015 slightly higher at $596 billion). Meanwhile, every dollar buys less than it used to.
Fact Check: Has President Obama 'Depleted' The Military?

How much does China, Russia, and Iran spend?

 

[danielpalos]

we have a general welfare clause

I gave you the numbers - NOBODY beats Pugs on debt and deficits and Reagan is in a class by himself!

It doesn't matter

BOTH parties increase the debt and that has held true since Coolidge was in office

so any one of you sheep who complain about the debt the other party runs are ******* hypocrites

the charts give a clear picture of what the democrats were doing with the debt. the republican policy is, no goals, just help the rich get richer, "so they can bail out the rest of us".

See you don't care about debt either you sheep ******* hypocrite

it is right wing policy to help the rich get richer and expect the poor to help pay for our Debt.

the left wing prefers to raise tax revenue by raising the minimum wage. A fifteen dollar an hour minimum wage and unemployment compensation for simply being unemployed would help stabilize markets in our economy, both public and private. And, engender a positive multiplier effect since capital must circulate to ensure liquidity in our private markets and revenue is generated for the public sector.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?
A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers. What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research
So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
Payroll taxes paid by both employer and employee: 12.4% or a total of $2.6 billion additional Federal tax revenue.
Now you do know that these 1.3 million don't pay Federal income taxes and will not on this additional $21 billion... the ONLY tax revenue will be payroll taxes.

So now let's calculate the remain 1.7 million that are less than $7.25... Let's assume that figure they currently get paid is $5.00/hr so then get $10.00 more...
1.7 million working 2,080 or additional $35.4 billion in gross wages and at 12.4% payroll taxes an additional $4.4 billion in payroll taxes.

So to answer your really ignorant comment: "would help stabilize markets in our economy, both public and private."
Just in additional payroll taxes the Federal government would get $7 billion a year... Just enough to pay out 10% of the food stamps:
SNAP benefits cost $70.9 billion in fiscal year 2016
Supplemental Nutrition Assistance Program - Wikipedia

Now you do know that these 1.3 million don't pay Federal income taxes and will not on this additional $21 billion... the ONLY tax revenue will be payroll taxes.

the online tax calculators show around two thousand dollars paid on an income based on fifteen dollars an hour and two thousand forty-eight hours per year basis.

Tax Calculator - Estimate Your Income Tax for 2018 - Free!

 

[danielpalos]

taxation is theft

Government is Socialism.

Here ya go, learn something.

Human Action | Ludwig von Mises

We are simply not Good enough; the Expense of Government is our punishment.

 

[Brain357]

I’m neither surprised or shocked by this I also know the same thing would have happened under President Hillary Clinton out of control spending is the one trait both parties share.

So where is the "out of control" spending? What areas do you think we should cut back?
The Mandatory spending for Medicare/SS/?
OH right let's continue to decrease the military spending. Right take all the troops out of Asia/Europe?
Where would you cut?

How about we stop increasing military spending?

First of all why don't you investigate that first before you make a spur of the moment comment? Is it too much to ask to deal with reality?

What do you think Russia/China/Iran and the billion plus Muslims would do if the USA did the following in order to cut "military spending".
1) All US troops in Asia/Europe would be removed. Could save billions right?
Do you think that Russia/China/Iran would then absorb Asian/European countries?
Do you think that once they absorbed, would they allow the USA to do business with Asian/European countries?

What do you think that would do to our economy?

• International trade, including exports and imports, supports 39.8 million U.S. jobs – more than 1 in 5. These trade-related jobs grew three and a half times faster than total employment from 2004 to 2013 and are at large and small companies, on farms, in factories, and at the headquarters of globally engaged U.S. firms. (See U.S. Jobs Depend On Two-Way Trade)
  
  
•  The United States exported $1.6 trillion in goods and $687.4 billion in services in 2013,
  https://tradepartnership.com/wp-content/uploads/2015/01/US_State_Study.pdf

So 40 million jobs depend on international trade as well as nearly $2 trillion in GDP comes from exports.... to Asian/European countries.
And with your plan to cut the military why would Russia/China have any issue in taking over Asian/European countries.

You probably think that is a fantasy.

Well why then is there a NATO or any Asian military alliances with the USA? Let's just do away with them. OK?

OK... So military spending
Post-9/11 Pentagon spending peaked in 2009 at more than $691 billion —
a combination of the Defense Department's request for basic funds and the supplemental request it made for wartime spending.
Last year (2015) , those two accounts amounted to just over $580 billion (though the Stockholm International Peace Institute, or SIPRI,
put total U.S. spending on its military in 2015 slightly higher at $596 billion). Meanwhile, every dollar buys less than it used to.
Fact Check: Has President Obama 'Depleted' The Military?

In FY 2017, the Congressional Budget Office reported spending of $590 billion for defense, about 15% of the federal budget.[1]For the FY 2019 president Donald Trump proposed an increase to the military to $681.1 billion. [2]

 

[Harpy Eagle]

Here you go, the deficit for FY18 was $1.27 trillion, The GDP $19.3 trillion. For the GDP to "cancel" the deficit it would need to end up at $20.57 trillion, just to break even. That is a 6.6% rise in the GDP in one year. Considering that the GDP growth for the first 3 quarters is less than 3% it is doubtful that we will come close to reaching 6.6% for the year.

First of all, your numbers are way off. Second, you are lumping Obama's deficit in with Trump's. That's deceptive, it's the INCREASE we are talking about, and here are the numbers. We've yet to see the full impact of the tax cuts but the increase in the deficit is $222 billion (as of August). GDP does not have to increase by 6.6% to offset that.
https://www.cbo.gov/system/files?file=2018-09/54442-MBR.pdf

My numbers are not off at all.

Using this site from the government...Debt to the Penny (Daily History Search Application)

FY18 started on 1 Oct 2017. On that day the total debt was $20,244,900,016,053

FY-18 ended on 30 Sept 2018. On that day the total debt was $21,516,058,183,180

The total difference between those two numbers is $ 1,271,158,167,127 (other wises known as 1.27 trillion dollars).

That number is the deficit for FY-18. The US GDP for 2017 was $ 19,390,600,000,000. In order to "cancel" the GPD would need to grow to
$ 20,661,758,167,127, which is a 6.6% growth rate over the 2017 GDP.

The full impact of the tax cuts have been a drop in revenue as compared to the previous year.

Taken from the Monthly Treasury Statement, we find these numbers. Monthly Treasury Statement

Now, since you are not very good with math, I will do it for you.

The tax cuts went into effect in Jan, so we will compare Jan-Aug for 2017 vs 2018

Between Jan-Aug of 2017 tax revenue was $2,225,400,000,000
Between Jan-Aug of 2018 tax revenue was $2,215,674,000,000
You will notice that 2018 is lower than 2017 by $9,726,000,000
6 out of the 8 months have been smaller in 2018 than 2017. The only reason that it is even that close is that April 2018 saw a record breaking month, but as anyone that makes a good living knows, April is the month that those of us who owe the government more than was withheld during the year, pay the government what is owed. So, the large number in April was due to 2017 taxes, before the tax cuts kicked in.

 

[Dana7360]

taxation is theft

Wrong.

Taxation is constitutional.

The founders of our nation believed it was very important to raise revenues to run and maintain our nation so they put the power for the government to tax the people in the constitution in a couple places. All state constitutions include the power for the state to impose taxes.

Why do you hate our federal constitution and the constitutions of all the 50 states?

Doesn't keep the taking of wealth under the threat of violence from being theft.

Who in our government has threatened you with violence if you don't pay taxes?

No one has.

Why do you believe that it's ok to break the law? Collecting taxes isn't theft. It's not a crime. Collecting taxes is very constitutional and very legal in America.

Not paying taxes is the crime.

You have things very backwards.

You believe that you have the right to take all that America has to offer and give you but you don't have to pay for it or give anything back. When someone expects you to pay your fair share you say it's theft and claim someone is threatening you with violence. Which is a lie.

Just be honest about it.

 

[healthmyths]

we have a general welfare clause

It doesn't matter

BOTH parties increase the debt and that has held true since Coolidge was in office

so any one of you sheep who complain about the debt the other party runs are ******* hypocrites

the charts give a clear picture of what the democrats were doing with the debt. the republican policy is, no goals, just help the rich get richer, "so they can bail out the rest of us".

See you don't care about debt either you sheep ******* hypocrite

it is right wing policy to help the rich get richer and expect the poor to help pay for our Debt.

the left wing prefers to raise tax revenue by raising the minimum wage. A fifteen dollar an hour minimum wage and unemployment compensation for simply being unemployed would help stabilize markets in our economy, both public and private. And, engender a positive multiplier effect since capital must circulate to ensure liquidity in our private markets and revenue is generated for the public sector.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?
A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers. What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research
So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
Payroll taxes paid by both employer and employee: 12.4% or a total of $2.6 billion additional Federal tax revenue.
Now you do know that these 1.3 million don't pay Federal income taxes and will not on this additional $21 billion... the ONLY tax revenue will be payroll taxes.

So now let's calculate the remain 1.7 million that are less than $7.25... Let's assume that figure they currently get paid is $5.00/hr so then get $10.00 more...
1.7 million working 2,080 or additional $35.4 billion in gross wages and at 12.4% payroll taxes an additional $4.4 billion in payroll taxes.

So to answer your really ignorant comment: "would help stabilize markets in our economy, both public and private."
Just in additional payroll taxes the Federal government would get $7 billion a year... Just enough to pay out 10% of the food stamps:
SNAP benefits cost $70.9 billion in fiscal year 2016
Supplemental Nutrition Assistance Program - Wikipedia

Now you do know that these 1.3 million don't pay Federal income taxes and will not on this additional $21 billion... the ONLY tax revenue will be payroll taxes.

the online tax calculators show around two thousand dollars paid on an income based on fifteen dollars an hour and two thousand forty-eight hours per year basis.

Tax Calculator - Estimate Your Income Tax for 2018 - Free!

Using your calculator YOU are right... the calculated tax is $2,114.
BUT remember the Minimum wage earner already would have paid at $7.25 $360 in taxes.
So the actual increase in tax revenue is $1,754 X 1.3 million:$2.28 billion.
Right that really adds to the tax revenue..... i.e. "raise tax revenue by raising the minimum wage."

 

[Faun]

we have a general welfare clause

the charts give a clear picture of what the democrats were doing with the debt. the republican policy is, no goals, just help the rich get richer, "so they can bail out the rest of us".

See you don't care about debt either you sheep ******* hypocrite

it is right wing policy to help the rich get richer and expect the poor to help pay for our Debt.

the left wing prefers to raise tax revenue by raising the minimum wage. A fifteen dollar an hour minimum wage and unemployment compensation for simply being unemployed would help stabilize markets in our economy, both public and private. And, engender a positive multiplier effect since capital must circulate to ensure liquidity in our private markets and revenue is generated for the public sector.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?
A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers. What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research
So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
Payroll taxes paid by both employer and employee: 12.4% or a total of $2.6 billion additional Federal tax revenue.
Now you do know that these 1.3 million don't pay Federal income taxes and will not on this additional $21 billion... the ONLY tax revenue will be payroll taxes.

So now let's calculate the remain 1.7 million that are less than $7.25... Let's assume that figure they currently get paid is $5.00/hr so then get $10.00 more...
1.7 million working 2,080 or additional $35.4 billion in gross wages and at 12.4% payroll taxes an additional $4.4 billion in payroll taxes.

So to answer your really ignorant comment: "would help stabilize markets in our economy, both public and private."
Just in additional payroll taxes the Federal government would get $7 billion a year... Just enough to pay out 10% of the food stamps:
SNAP benefits cost $70.9 billion in fiscal year 2016
Supplemental Nutrition Assistance Program - Wikipedia

Now you do know that these 1.3 million don't pay Federal income taxes and will not on this additional $21 billion... the ONLY tax revenue will be payroll taxes.

the online tax calculators show around two thousand dollars paid on an income based on fifteen dollars an hour and two thousand forty-eight hours per year basis.

Tax Calculator - Estimate Your Income Tax for 2018 - Free!

Using your calculator YOU are right... the calculated tax is $2,114.
BUT remember the Minimum wage earner already would have paid at $7.25 $360 in taxes.
So the actual increase in tax revenue is $1,754 X 1.3 million:$2.28 billion.
Right that really adds to the tax revenue..... i.e. "raise tax revenue by raising the minimum wage."

You’re still playing with numbers after that royally fucked up chart you posted earlier?? You never learn, do ya?

 

[healthmyths]

taxation is theft

Wrong.

Taxation is constitutional.

The founders of our nation believed it was very important to raise revenues to run and maintain our nation so they put the power for the government to tax the people in the constitution in a couple places. All state constitutions include the power for the state to impose taxes.

Why do you hate our federal constitution and the constitutions of all the 50 states?

Doesn't keep the taking of wealth under the threat of violence from being theft.

Who in our government has threatened you with violence if you don't pay taxes?

No one has.

Why do you believe that it's ok to break the law? Collecting taxes isn't theft. It's not a crime. Collecting taxes is very constitutional and very legal in America.

Not paying taxes is the crime.

You have things very backwards.

You believe that you have the right to take all that America has to offer and give you but you don't have to pay for it or give anything back. When someone expects you to pay your fair share you say it's theft and claim someone is threatening you with violence. Which is a lie.

Just be honest about it.

Just asking...do you think the "wealthy" are breaking the law when they don't pay as much in taxes as you think they should?

Do you think corporations are doing anything illegal by keeping money offshore to avoid taxes?

Cutting corporate income tax from 35% if you left your profits in the USA ...
therefore there was All told, Fortune 500 corporations are avoiding up to $767 billion in U.S. federal income taxes by holding more than $2.6 trillion of “permanently reinvested” profits offshore
Fortune 500 Companies Hold a Record $2.6 Trillion Offshore

All told, the Bureau of Economic Analysis (BEA) reported, some $305.6 billion returned to the U.S. from overseas accounts.
That's a $1.2 trillion annual rate, and far more than the $35 billion one year before.Jun 26, 2018

So with the cut in corporate income taxes from 35% to 21% the USA is getting back an estimated $1.2 trillion.
NOW these companies have to pay a tax on that to the tune of 15.5%... or 8%...
The new rules set a one-time rate of 15.5 percent on cash and 8 percent on non-cash or illiquid assets. Payments can be made over eight years. Previously, companies had to pay the old 35 percent corporate rate, but only if they brought the money back to the U.S.
Bloomberg - Are you a robot?

So these corporations are bringing back this money, paying the taxes and guess what they are doing????

How U.S. Companies Are Spending Their Newly Repatriated Cash
Please read this link and see what several companies are doing with these repatriated funds.

 

[S.J.]

Here you go, the deficit for FY18 was $1.27 trillion, The GDP $19.3 trillion. For the GDP to "cancel" the deficit it would need to end up at $20.57 trillion, just to break even. That is a 6.6% rise in the GDP in one year. Considering that the GDP growth for the first 3 quarters is less than 3% it is doubtful that we will come close to reaching 6.6% for the year.

First of all, your numbers are way off. Second, you are lumping Obama's deficit in with Trump's. That's deceptive, it's the INCREASE we are talking about, and here are the numbers. We've yet to see the full impact of the tax cuts but the increase in the deficit is $222 billion (as of August). GDP does not have to increase by 6.6% to offset that.
https://www.cbo.gov/system/files?file=2018-09/54442-MBR.pdf

My numbers are not off at all.

Using this site from the government...Debt to the Penny (Daily History Search Application)

FY18 started on 1 Oct 2017. On that day the total debt was $20,244,900,016,053
View attachment 221785

FY-18 ended on 30 Sept 2018. On that day the total debt was $21,516,058,183,180
View attachment 221787

The total difference between those two numbers is $ 1,271,158,167,127 (other wises known as 1.27 trillion dollars).

That number is the deficit for FY-18. The US GDP for 2017 was $ 19,390,600,000,000. In order to "cancel" the GPD would need to grow to
$ 20,661,758,167,127, which is a 6.6% growth rate over the 2017 GDP.

The full impact of the tax cuts have been a drop in revenue as compared to the previous year.

Taken from the Monthly Treasury Statement, we find these numbers. Monthly Treasury Statement

View attachment 221788

Now, since you are not very good with math, I will do it for you.

The tax cuts went into effect in Jan, so we will compare Jan-Aug for 2017 vs 2018

Between Jan-Aug of 2017 tax revenue was $2,225,400,000,000
Between Jan-Aug of 2018 tax revenue was $2,215,674,000,000
You will notice that 2018 is lower than 2017 by $9,726,000,000
6 out of the 8 months have been smaller in 2018 than 2017. The only reason that it is even that close is that April 2018 saw a record breaking month, but as anyone that makes a good living knows, April is the month that those of us who owe the government more than was withheld during the year, pay the government what is owed. So, the large number in April was due to 2017 taxes, before the tax cuts kicked in.

You're confusing the total deficit with the INCREASE in the existing deficit. I posted a link from the CBO, but you don't seem to want to acknowledge the statistics from a credible website. And according to the "credible link", the deficit increased by $222 billion. It does NOT take a 6.6% increase in the GDP to cancel out $222 billion. You're full of shit.

 

[danielpalos]

we have a general welfare clause

the charts give a clear picture of what the democrats were doing with the debt. the republican policy is, no goals, just help the rich get richer, "so they can bail out the rest of us".

See you don't care about debt either you sheep ******* hypocrite

it is right wing policy to help the rich get richer and expect the poor to help pay for our Debt.

the left wing prefers to raise tax revenue by raising the minimum wage. A fifteen dollar an hour minimum wage and unemployment compensation for simply being unemployed would help stabilize markets in our economy, both public and private. And, engender a positive multiplier effect since capital must circulate to ensure liquidity in our private markets and revenue is generated for the public sector.

OK... let's use your $15.00 figure raising all the people that work for minimum wage.
Q) How many people do you think work at minimum wage?
A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers. What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research
So let's raise ALL these 3 million people to $15.00/hour.
Now 1.3 million already were paid $7.25 so the additional hourly pay is $7.75 per hour.
So these 1.3 million would get another $7.75/hour and work 2,080 hours per year or a total gross of $20,956,000,000
Payroll taxes paid by both employer and employee: 12.4% or a total of $2.6 billion additional Federal tax revenue.
Now you do know that these 1.3 million don't pay Federal income taxes and will not on this additional $21 billion... the ONLY tax revenue will be payroll taxes.

So now let's calculate the remain 1.7 million that are less than $7.25... Let's assume that figure they currently get paid is $5.00/hr so then get $10.00 more...
1.7 million working 2,080 or additional $35.4 billion in gross wages and at 12.4% payroll taxes an additional $4.4 billion in payroll taxes.

So to answer your really ignorant comment: "would help stabilize markets in our economy, both public and private."
Just in additional payroll taxes the Federal government would get $7 billion a year... Just enough to pay out 10% of the food stamps:
SNAP benefits cost $70.9 billion in fiscal year 2016
Supplemental Nutrition Assistance Program - Wikipedia

Now you do know that these 1.3 million don't pay Federal income taxes and will not on this additional $21 billion... the ONLY tax revenue will be payroll taxes.

the online tax calculators show around two thousand dollars paid on an income based on fifteen dollars an hour and two thousand forty-eight hours per year basis.

Tax Calculator - Estimate Your Income Tax for 2018 - Free!

Using your calculator YOU are right... the calculated tax is $2,114.
BUT remember the Minimum wage earner already would have paid at $7.25 $360 in taxes.
So the actual increase in tax revenue is $1,754 X 1.3 million:$2.28 billion.
Right that really adds to the tax revenue..... i.e. "raise tax revenue by raising the minimum wage."

And, create more in demand.

 

[Harpy Eagle]

You're confusing the total deficit with the INCREASE in the existing deficit. I posted a link from the CBO, but you don't seem to want to acknowledge the statistics from a credible website. And according to the "credible link", the deficit increased by $222 billion. It does NOT take a 6.6% increase in the GDP to cancel out $222 billion. You're full of shit.

I posted a link to the US ******* government's own site for tracking the debt, how much more credible would you like

Since the GDP was not canceling out the previous deficit, one would need to do more than just cancel out the change in the deficit, which by the way is way more than 22 billion. The 2017 deficit was 665 billion, the deficit for the first 283 days 2018 is $1,109,539,370,085, which puts us on pace for a total deficit for CY18 of
$1,431,031,343,042, which will even top Obama for the largest deficit ever.

It is clear you have no clue what you are talking about, you cannot provide any or your own numbers or calculations, you just keep parroting the party talking points.