Deficit Increased by $7B under Trump, But now the GOP tries to claim fiscal Responsibility????

[Lesh]

28,849,642,000,000 X 2.2% = 634,692,124,000

So, 634 billion? Did I get something wrong? Current national debt is almost 29T and current interest rate on the debt is 2.2%, right?

Debt service on the 27T national debt is $370B

 

[Nostra]

What are you talking about?

Why are they not looking at day care?

And do you know what day care costs?

Tell us what day care costs.

This should be a fun ride on the Lesh spin machine.

 

[ThisIsMe]

Debt service on the 27T national debt is $370B

Interest Expense on the Debt Outstanding

The Interest Expense on the Debt Outstanding includes the monthly interest for:

• U.S. Treasury notes and bonds

• Foreign and domestic series certificates of indebtedness, notes and bonds

• Savings bonds

• Government Account Series (GAS)

• State and Local Government series (SLGs) and other special purpose securities.

Government - Interest Expense on the Debt Outstanding

This site lists the 562B that GG mentioned. It doesn't mention social security as being included in the interest expense calculation.

Why the different numbers from the website you quoted vs this one?

 

[Rigby5]

 

[Lesh]

28,849,642,000,000 X 2.2% = 634,692,124,000

So, 634 billion? Did I get something wrong? Current national debt is almost 29T and current interest rate on the debt is 2.2%, right?

Obviously you did "get something wrong"

The debt service on that 29T is $370 B

 

[Lesh]

This site lists the 562B that GG mentioned. It doesn't mention social security as being included in the interest expense calculation.

It should have. That's the difference

Why the different numbers from the website you quoted vs this one?

Because mine is the debt service on only the national debt

 

[bendog]

The point is, Lesh, that if you have a two parent family, with three kids, and making 75K from two salaries, and then spend somebody else's money to "give" the family $800 per month, you remove incentive for one of the parents to work - at least full time - because if there are are day care expenses, $800 is actually less than the avg.

And I'm not against helping working familes ... I'm still working and still partially supporting a college kid ... but we can send aid to schools so there is no cost, or cheap, after school care in a safe place with an educator to help with homework. We can even put kids on Medcaid with Schips taxes. We can even subsidize school breakfasts and lunches, and even make them no cost for families. We can even make community college free - even in Miss - for kids who graduated HS with a 3.0 and live at home.

BUT THE PROGRESSIVES' GOAL IS TO SEND CASH TRANSFER PAYMENTS TO PEOPLE WHOSE SALARIES PROGRESSIVES DEEM TO BE TOO LOW, because Manchin is right that they want an entitlement society.

 

[Lesh]

The point is, Lesh, that if you have a two parent family, with three kids, and making 75K from two salaries, and then spend somebody else's money to "give" the family $800 per month, you remove incentive for one of the parents to work

$ 800 (or actually $300) a month is NOT going to stop anyone from working. It actually pays for day care (somewhat) in order that they DO work

And I'm not against helping working familes

Yea..ya are. You can say you're not but then you say things that show that to be false

 

[Flash]

Worst job report this year.

Thanks a lot President Potatohead.

Obama had it right. You fuck up everything you touch.

 

[ThisIsMe]

It should have. That's the difference

Because mine is the debt service on only the national debt

How Much Is the Interest on the US National Debt? | Fiscal Tiger

In 2020, the interest on the U.S. national debt is $479 billion. This increasing interest is addressed by a percentage of the federal budget, which takes money away from other important programs and threatens Social Security funding.

www.fiscaltiger.com

$479 billion. They specifically say this number doesn't indeed social security.

Really though, the point he was, rightly, trying to make, is that, it's not a good practice to keep piling on top of the debt. Sure we can pay it now, but keep compounding it, and sometime down the road, it's going to be a problem.

Look at the national debt just 30 years ago. It was what, under 4T? 30 years from now, it's likely to be nearly 50T. If interest goes up even a point, that could be devastating.

 

[Nostra]

Worst job report this year.

Thanks a lot President Potatohead.

Obama had it right. You fuck up everything you touch.

Trending down dramatically over the past quarter.

Yeah Joe!

 

[Turtlesoup]

GW Bush inherited a balanced budget and projected surplus..
The GOP Congress spent like CRAZY and completely wasted and squandered that balanced budget. (then they crashed the economy 7 years later)

In 2016, Obama's last year, the US annual deficit was at $587 B a year.
In 2020 the US deficit was projected to be $1.1 T, precovid (it came in at $3T)

Trump and the GOP doubled the yearly budget deficit in just 3 years, AND they never had 3% GDP annually.

Now these trash republican try and claim to be the fiscally responsible ones even though the GOP has destroyed the countries finances. The GOP refuses to do the right thing and fund our government to keep the economy booming under Biden. The GOP has raised the debt ceiling countless times for themselves, but never for anybody else. the GOP is playing games with our economy. The economy is booming and the GOP are jealous because they such at the economy.

This is just another example of the joke and failure of the GOP. The GOP has destroyed our finances, and they won't work with the dems to help our country. The GOP doesn't care about our country at all, they care about the GOP. Party over country. Why else would the GOP spend so recklessly for so long???

Everything posted here is 100% fact, I know you hate it, I know you people are squirming and crying right now, but the truth can be a tough pill for Trumpers to swallow. You hate the truth. You hate my facts. Facts are kryptonite to a Trumper.

Fiscal Data Explains the National Deficit

Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit

datalab.usaspending.gov

The Bush's are lying swamp creatures, but the housing bubble was not their fault----that was the dems going back to Peanut Head Carter with special mention belonging to Clinton and his CRT act. Some people just don't pay their bills, and the government should not make taxpayers subsidize their worthless asses regardless of skin color.

 

[Lesh]

How Much Is the Interest on the US National Debt? | Fiscal Tiger

In 2020, the interest on the U.S. national debt is $479 billion. This increasing interest is addressed by a percentage of the federal budget, which takes money away from other important programs and threatens Social Security funding.

www.fiscaltiger.com

$479 billion. They specifically say this number doesn't indeed social security.

Really though, the point he was, rightly, trying to make, is that, it's not a good practice to keep piling on top of the debt. Sure we can pay it now, but keep compounding it, and sometime down the road, it's going to be a problem.

Look at the national debt just 30 years ago. It was what, under 4T? 30 years from now, it's likely to be nearly 50T. If interest goes up even a point, that could be devastating.

There seems to be some difference on the amount

How High Are Federal Interest Payments? | Committee for a Responsible Federal Budget

This year, the federal government will spend $300 billion on interest payments on the national debt.

www.crfb.org

That puts it at $300 B. I read it amounted to $345B in 2020 and that 2021 was estimated to be $378B

Again...no one seems to be able to say at what point the interest is too high. it's THAT far away

 

[Viktor]

GW Bush inherited a balanced budget and projected surplus..
The GOP Congress spent like CRAZY and completely wasted and squandered that balanced budget. (then they crashed the economy 7 years later)

In 2016, Obama's last year, the US annual deficit was at $587 B a year.
In 2020 the US deficit was projected to be $1.1 T, precovid (it came in at $3T)

Trump and the GOP doubled the yearly budget deficit in just 3 years, AND they never had 3% GDP annually.

Now these trash republican try and claim to be the fiscally responsible ones even though the GOP has destroyed the countries finances. The GOP refuses to do the right thing and fund our government to keep the economy booming under Biden. The GOP has raised the debt ceiling countless times for themselves, but never for anybody else. the GOP is playing games with our economy. The economy is booming and the GOP are jealous because they such at the economy.

This is just another example of the joke and failure of the GOP. The GOP has destroyed our finances, and they won't work with the dems to help our country. The GOP doesn't care about our country at all, they care about the GOP. Party over country. Why else would the GOP spend so recklessly for so long???

Everything posted here is 100% fact, I know you hate it, I know you people are squirming and crying right now, but the truth can be a tough pill for Trumpers to swallow. You hate the truth. You hate my facts. Facts are kryptonite to a Trumper.

Fiscal Data Explains the National Deficit

Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit

datalab.usaspending.gov

Idiot. A deficit is a shortage for one fiscal year. Nobody can inherit it from somebody else. You don't know what you are babbling about.

 

[Lesh]

Idiot. A deficit is a shortage for one fiscal year. Nobody can inherit it from somebody else. You don't know what you are babbling about.

Most of the obligations in a budget are the same from year to year unless you cut things… like military spending for instance

 

[jc456]

And that's the bottom line.

The sheep only see the sins of "those guys, over there".

Again you’re wrong! You ignored what we said! So you

 

[jc456]

But that's not what I said. A majority of Americans are not like you.

You once again completely screw up what I said.

This is why I don't bother.

It’s what you said Jedi

 

[The Banker]

Idiot. A deficit is a shortage for one fiscal year. Nobody can inherit it from somebody else. You don't know what you are babbling about.

Huh???

The deficit short fall for 2016 was $587 B
Trump then spent like a druken sailor and doubled that shortfall to $1.1 T precovid. Bush inherited a balanced budget and turned that into a total economic crash and mega deficts.

All the major problems in America are the result of GOP policy mistakes.

 

[YoursTruly]

GW Bush inherited a balanced budget and projected surplus..
The GOP Congress spent like CRAZY and completely wasted and squandered that balanced budget. (then they crashed the economy 7 years later)

In 2016, Obama's last year, the US annual deficit was at $587 B a year.
In 2020 the US deficit was projected to be $1.1 T, precovid (it came in at $3T)

Trump and the GOP doubled the yearly budget deficit in just 3 years, AND they never had 3% GDP annually.

Now these trash republican try and claim to be the fiscally responsible ones even though the GOP has destroyed the countries finances. The GOP refuses to do the right thing and fund our government to keep the economy booming under Biden. The GOP has raised the debt ceiling countless times for themselves, but never for anybody else. the GOP is playing games with our economy. The economy is booming and the GOP are jealous because they such at the economy.

This is just another example of the joke and failure of the GOP. The GOP has destroyed our finances, and they won't work with the dems to help our country. The GOP doesn't care about our country at all, they care about the GOP. Party over country. Why else would the GOP spend so recklessly for so long???

Everything posted here is 100% fact, I know you hate it, I know you people are squirming and crying right now, but the truth can be a tough pill for Trumpers to swallow. You hate the truth. You hate my facts. Facts are kryptonite to a Trumper.

Fiscal Data Explains the National Deficit

Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit

datalab.usaspending.gov

You're completely right about the GOP's spending problem. But claiming the democrats of today want to fix it, or not even acknowledging they're part of the problem, debunks your entire post.

 

[Nostra]

GW Bush inherited a balanced budget and projected surplus..
The GOP Congress spent like CRAZY and completely wasted and squandered that balanced budget. (then they crashed the economy 7 years later)

In 2016, Obama's last year, the US annual deficit was at $587 B a year.
In 2020 the US deficit was projected to be $1.1 T, precovid (it came in at $3T)

Trump and the GOP doubled the yearly budget deficit in just 3 years, AND they never had 3% GDP annually.

Now these trash republican try and claim to be the fiscally responsible ones even though the GOP has destroyed the countries finances. The GOP refuses to do the right thing and fund our government to keep the economy booming under Biden. The GOP has raised the debt ceiling countless times for themselves, but never for anybody else. the GOP is playing games with our economy. The economy is booming and the GOP are jealous because they such at the economy.

This is just another example of the joke and failure of the GOP. The GOP has destroyed our finances, and they won't work with the dems to help our country. The GOP doesn't care about our country at all, they care about the GOP. Party over country. Why else would the GOP spend so recklessly for so long???

Everything posted here is 100% fact, I know you hate it, I know you people are squirming and crying right now, but the truth can be a tough pill for Trumpers to swallow. You hate the truth. You hate my facts. Facts are kryptonite to a Trumper.

Fiscal Data Explains the National Deficit

Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit

datalab.usaspending.gov

Which year was there a $7 Billion deficit, Simp?