It's OK republicans Trump won't be here

[my2¢]

Gee, how did it get so high?
Barack Obama: Added $8.588 trillion, a 74 percent increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.

· FY 2017 - $672 billion.

· FY 2016 - $1.423 trillion.

· FY 2015 - $327 billion.

· FY 2014 - $1.086 trillion.

· FY 2013 - $672 billion.

· FY 2012 - $1.276 trillion.

· FY 2011 - $1.229 trillion.

· FY 2010 - $1.652 trillion.

I pretty much agree but wouldn't dismiss the disaster of the previous 8 years under GW Bush, starting with his 1st fiscal year 2002. Which as a percentage yields an even higher increase in the debt than Obama's. The poor guy immediately got hit with 9/11 and then he decided Saddam had to go and Iraq needed nation building. In his last 2 years and Obama's first 3 the economy went to hell in a handbasket and their stimulus packages and lack of tax revenues wrecked havoc on the numbers. I'd be greatly delighted if 2019's deficit greatly reduces from 2018's. Doesn't cost anything to hope.

I'm looking at figures from Treasury Direct ( Government - Historical Debt Outstanding - Annual 2000 - 2018 )

 

[whitehall]

Guess what, the National Debit "reached a new high" under every new administration going back probably as far as James Polk. It's just that liberals never talk about it during democrat administration. The thing of it is that we get more bang for our National Debit bucks under Trump than we ever got in the entire eight stagnant sorry years of Barry Sotoro but you can bet CNN doesn't bring up that part.

 

[tommytt1]

Sent from my iPhone using Tapatalk Pro

 

[Larsky]

Trumptards are impervious to facts. Don't waste your bandwidth.

 

[AntonToo]

Holy shit people are ignorant.

Deficits don’t just happen because person X is in the whitehouse today.

They are mostly composed of existing policies, revenues that are subject to economic state and tax rates.

High deficits in aftermath of Great Recession? DUH

What the fuck do you think happens when your revenues get cut by 25% and you have to pay out unemployment while trying to prop up economy back to life?

Our long term fiscal problems are based on CHRONIC ADDICTION TO TAX-CUTS and baked in spending in need of reforming.

Economy good? Time for another tax-cut!
Economy bad? Oh-oh better pass a tax-cut!

Like a strung out junkie there are always some bullshit rationalizations to not get clean.

 

[C_Clayton_Jones]

US national debt reaches a new high under Trump - CNNPolitics

US national debt reaches a new high under Trump - CNNPolitics
Jan 4, 2019 - The US national debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when President Donald Trump took office, ...
Trump says debt crisis after presidency OK as 'I won't be here': report ...

Trump is reportedly not worried about a massive US debt crisis as he'll be out of office by then
Dec 6, 2018 - US debt stands at about $21 trillion, and the federal government is ...Trump is reportedly not worried about a massive US debt crisis as he'll be ..

Further confirmation of the fact that Trump is a scumbag.

 

[ThunderKiss1965]

US national debt reaches a new high under Trump - CNNPolitics

US national debt reaches a new high under Trump - CNNPolitics
Jan 4, 2019 - The US national debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when President Donald Trump took office, ...
Trump says debt crisis after presidency OK as 'I won't be here': report ...

Trump is reportedly not worried about a massive US debt crisis as he'll be out of office by then
Dec 6, 2018 - US debt stands at about $21 trillion, and the federal government is ...Trump is reportedly not worried about a massive US debt crisis as he'll be ..

Don't worry nobody with more than a single brain cell is going to believe the left is suddenly fiscally aware.

 

[McRocket]

US national debt reaches a new high under Trump - CNNPolitics

US national debt reaches a new high under Trump - CNNPolitics
Jan 4, 2019 - The US national debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when President Donald Trump took office, ...
Trump says debt crisis after presidency OK as 'I won't be here': report ...

Trump is reportedly not worried about a massive US debt crisis as he'll be out of office by then
Dec 6, 2018 - US debt stands at about $21 trillion, and the federal government is ...Trump is reportedly not worried about a massive US debt crisis as he'll be ..

So, as of now, 4 people (I assume Trumpbots) find the national debt 'funny'?

I guess the huge debt Trump is running is a huge joke to his 'bots.

Noted.

 

[ThunderKiss1965]

Its not funny. Someone had better address the budget deficit soon or the country goes bankrupt. I support a 3% Fed sales tax along with a 7% raise of the top tax rate. Then cut the Federal budget 25% across the board.

How about taking back the Trump bullshit tax cut to the rich??? for starters?

Give up your tax cut first, unless your one of the 44% that pay no taxes, if so you should stop stealing from hard working US tax payers.

 

[Biff_Poindexter]

Thanks, Obama!

You should kiss Obama's ass He dug us out of another republican, GWBs, shitstorm

Research the Community Reinvestment Act, where Bubba Clinton signed a Bill that forced banks to give mortgages to the unqualified, backed by the Federal government. When the mortgages went belly-up the shit storm hit....Bush didn't create the shit storm mess, it just hit on his watch....
Community Reinvestment Act - Wikipedia

I know conservatives like to blame all of their own fuck-ups on poor people --- but no, the CRA DID NOT cause the mortgage crisis...This bullshit has been debunked over and over again (just like trickle down economics) -- but idiots like yourself keep pushing it...

The CRA has been around since the 1970's -- the shit you are complaining about with Clinton happened in the 90's -- but what you idiots either intentionally leave out or are just too stupid to know is -- less than 10% of those "poor people" subprime loans even qualified for CRA credit -- however, this is what republicans won't talk about... out-of-control securitization and derivatives markets.... what about the "Gramm-Leach-Bliley Act", which repealed the Depression-era wall between commercial banks and investment banks...How about the Commodity Futures Modernization Act of 2000, which allowed shady wallstreet tricks such as credit default swaps which is what really crashed the financial system.

But its more fun to just blame it on poor people; that way we can crack down on them and continue to let the other shit that actually caused the crash to continue..Trump lovers will always vote against their best interests if they think it means they are voting against people they think they are better than (poor people) -- even if they are one of them...


Low-income loans didn't cause the financial crisis

 

[imawhosure]

Gee, how did it get so high?
Barack Obama: Added $8.588 trillion, a 74 percent increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.

· FY 2017 - $672 billion.

· FY 2016 - $1.423 trillion.

· FY 2015 - $327 billion.

· FY 2014 - $1.086 trillion.

· FY 2013 - $672 billion.

· FY 2012 - $1.276 trillion.

· FY 2011 - $1.229 trillion.

· FY 2010 - $1.652 trillion.

I pretty much agree but wouldn't dismiss the disaster of the previous 8 years under GW Bush, starting with his 1st fiscal year 2002. Which as a percentage yields an even higher increase in the debt than Obama's. The poor guy immediately got hit with 9/11 and then he decided Saddam had to go and Iraq needed nation building. In his last 2 years and Obama's first 3 the economy went to hell in a handbasket and their stimulus packages and lack of tax revenues wrecked havoc on the numbers. I'd be greatly delighted if 2019's deficit greatly reduces from 2018's. Doesn't cost anything to hope.

I'm looking at figures from Treasury Direct ( Government - Historical Debt Outstanding - Annual 2000 - 2018 )

Guess what, the National Debit "reached a new high" under every new administration going back probably as far as James Polk. It's just that liberals never talk about it during democrat administration. The thing of it is that we get more bang for our National Debit bucks under Trump than we ever got in the entire eight stagnant sorry years of Barry Sotoro but you can bet CNN doesn't bring up that part.

IMPORTANT--------->

I was skeptical, I really was, but a study was done by think tanks, and neither Leftists nor Conservatives have rebuked it.

1. If the economy averages 3.4% growth over 22 years, the National debt would disappear.

HOW?

2. If the Feds tied the rate of government expenditures to inflation instead of their goofy formula which INCREASES spending far beyond inflation, and

3. change the S.S. and Medicare formula slightly for future recipients. (to long to post the formula, but not bad)

In essence, their conclusion was---------------->throughout history, no matter WHAT the tax rates were, it only garnered a small range of % of intake of what the GDP was. Fooling dramatically with the tax rates to increase revenue, does NOT work. All it really does is---------->promote or stifle economic growth, and growth is paramount to getting out of this debt mess. The only other thing moving tax rates do is--------->determine which segment of society PAYS the taxes, it does NOT increase the % of GDP brought into the government coiffures, except within a very small ban, like 2%...………...which is misleading, because even if the % rises by 2%, if GDP falls, it is a net LOSS in revenue.

The problem they addressed succinctly, was NOT on the intake side, but was on the spending side. In other words-------->spending is far more of the problem, then intake. Their conclusion using historical data was very enlightening----------> you can NOT raise massive taxes by increasing rates dramatically beyond a certain point, because it stifles growth. You will get a larger % of GDP, but GDP will shrink, meaning...….you have accomplished NOTHING!

Now then---------->since we now know we are in a very narrow band of GDP that we can take in no matter what we do, we MUST address the spending!

And so...…….if that is the case, how do you control Washington politicians whos' re-election depends upon what they can give people supposedly for free?

You MUST put limits on what they can spend, and if they have a great program that they want, they need to kill programs that are LESS important to fund them. Where does it say in our constitution or any founding document, that once a program is created, it must be funded forever? IT DOES NOT!

3.4% is doable, we know this. But controlling politicians in Washington is another matter when their re-election is on the line. Should we NOT demand that if they have a great program, they find the money by killing another?

Of course, we give our politicians and out to use the credit card if we must go to war, or something terrible happens, but under MOST circumstances, they MUST stay within a budget that we set.

Not rocket science, and it is our country!

 

[kyzr]

Thanks, Obama!

You should kiss Obama's ass He dug us out of another republican, GWBs, shitstorm

Research the Community Reinvestment Act, where Bubba Clinton signed a Bill that forced banks to give mortgages to the unqualified, backed by the Federal government. When the mortgages went belly-up the shit storm hit....Bush didn't create the shit storm mess, it just hit on his watch....
Community Reinvestment Act - Wikipedia

I know conservatives like to blame all of their own fuck-ups on poor people --- but no, the CRA DID NOT cause the mortgage crisis...This bullshit has been debunked over and over again (just like trickle down economics) -- but idiots like yourself keep pushing it...

The CRA has been around since the 1970's -- the shit you are complaining about with Clinton happened in the 90's -- but what you idiots either intentionally leave out or are just too stupid to know is -- less than 10% of those "poor people" subprime loans even qualified for CRA credit -- however, this is what republicans won't talk about... out-of-control securitization and derivatives markets.... what about the "Gramm-Leach-Bliley Act", which repealed the Depression-era wall between commercial banks and investment banks...How about the Commodity Futures Modernization Act of 2000, which allowed shady wallstreet tricks such as credit default swaps which is what really crashed the financial system.

But its more fun to just blame it on poor people; that way we can crack down on them and continue to let the other shit that actually caused the crash to continue..Trump lovers will always vote against their best interests if they think it means they are voting against people they think they are better than (poor people) -- even if they are one of them...


Low-income loans didn't cause the financial crisis

First I want to thank you for actually presenting your rationale' for opposing the premise that the CRA led to the "Great Recession". I hate when lazy posters just opine on the matter w/o any rationale'. (not to name names g___)

I believe the "Great Recession" was caused by a combination of factors and not just one, the movie "Too Big To Fail" gives a credible explanation for the sequence of events.

These articles provide a very clear explanation how the CRA evolved, and in conjunction with other stupid laws created the "Great Recession".
Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending
Clinton Housing Policy Wrecked Economy, Not 1% | Investor's Business Daily
Kudlow: Are the Clintons the real housing crash villains?

Both parties are to blame for the Great Recession to some degree, we can debate which one gets the lions share of the blame.

 

[BWK]

Thanks, Obama!

You should kiss Obama's ass He dug us out of another republican, GWBs, shitstorm

$10,000,000,000,000 in new debt

Thanks, Obama!

How is adding 2 trillion dollars by Republicans for tax cuts on Obama?

 

[imawhosure]

Thanks, Obama!

You should kiss Obama's ass He dug us out of another republican, GWBs, shitstorm

$10,000,000,000,000 in new debt

Thanks, Obama!

How is adding 2 trillion dollars by Republicans for tax cuts on Obama?

Why do you people play this game? Really!

Why don't you see if revenue WENT UP, OR DOWN, to the federal government!

If it went down dramatically, you have made your case.

If it went UP, then we need to address the spending side, and what program do you want to kill!

 

[imawhosure]

Thanks, Obama!

You should kiss Obama's ass He dug us out of another republican, GWBs, shitstorm

$10,000,000,000,000 in new debt

Thanks, Obama!

How is adding 2 trillion dollars by Republicans for tax cuts on Obama?

Let me ask you something, an exaggeration for sure, but it makes the point!

What is more, 10% of a million dollars, or 40% of 100,000 dollars-)

 

[Harpy Eagle]

US national debt reaches a new high under Trump - CNNPolitics

US national debt reaches a new high under Trump - CNNPolitics
Jan 4, 2019 - The US national debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when President Donald Trump took office, ...
Trump says debt crisis after presidency OK as 'I won't be here': report ...

Trump is reportedly not worried about a massive US debt crisis as he'll be out of office by then
Dec 6, 2018 - US debt stands at about $21 trillion, and the federal government is ...Trump is reportedly not worried about a massive US debt crisis as he'll be ..

Gee, how did it get so high?
Barack Obama: Added $8.588 trillion, a 74 percent increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.

· FY 2017 - $672 billion.

· FY 2016 - $1.423 trillion.

· FY 2015 - $327 billion.

· FY 2014 - $1.086 trillion.

· FY 2013 - $672 billion.

· FY 2012 - $1.276 trillion.

· FY 2011 - $1.229 trillion.

· FY 2010 - $1.652 trillion.

You left out Bush II adding 101% from the end of Clinton's last budget FY.

and you left off Trump adding 1.48 trillion dollars in CY18 during a booming economy.

Funny how people like you only blame one side.

 

[kyzr]

Where would anyone cut spending from the Budget to avoid borrowing and adding to the $22T Debt?
I vote for Foreign Aid, Education (State function), Defense $100b, Medicaid (get a job), Welfare(get a job). If needed, add a 3% Fed sales tax on everything and raise the top rate 7%.

2019 Federal Budget $4.04T
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary spending $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

 

[Harpy Eagle]

Thanks, Obama!

You should kiss Obama's ass He dug us out of another republican, GWBs, shitstorm

$10,000,000,000,000 in new debt

Thanks, Obama!

How is adding 2 trillion dollars by Republicans for tax cuts on Obama?

Why do you people play this game? Really!

Why don't you see if revenue WENT UP, OR DOWN, to the federal government!

If it went down dramatically, you have made your case.

If it went UP, then we need to address the spending side, and what program do you want to kill!

Every tax cut since Reagan has slowed the growth of revenue, that is why tax cuts without corresponding spending cuts are bad for the country.

 

[22lcidw]

Thanks, Obama!

You should kiss Obama's ass He dug us out of another republican, GWBs, shitstorm

Ddddddooooodddddd/Ffffffrrrraaannnkkkk!

 

[imawhosure]

Thanks, Obama!

You should kiss Obama's ass He dug us out of another republican, GWBs, shitstorm

$10,000,000,000,000 in new debt

Thanks, Obama!

How is adding 2 trillion dollars by Republicans for tax cuts on Obama?

Why do you people play this game? Really!

Why don't you see if revenue WENT UP, OR DOWN, to the federal government!

If it went down dramatically, you have made your case.

If it went UP, then we need to address the spending side, and what program do you want to kill!

Every tax cut since Reagan has slowed the growth of revenue, that is why tax cuts without corresponding spending cuts are bad for the country.

Really, are you telling everyone on this board that eventhough after the Reagan tax cuts, using inflation adjusted dollars, that the revenue to the government did NOT grow by almost double?

You are kidding all of us, you can NOT be that dumb!