Republicans Trying to not pay for their big Spending Programs again

[The Banker]

so all the rise of those things today are because of trump?....

Trump's out of control spending, massive money handouts AND record QE - that he needed in 2019 before covid, and then also after covid, are a main cause of today's inflation.

When you print that much money and spend that much money and handout that much money, like Trump did, it has an effect years latter. Republicans are trying to blame Biden for the consequences of Trump's put of control spending and deficits.

 

[Tom Paine 1949]

Trump's out of control spending, massive money handouts AND record QE - that he needed in 2019 before covid, and then also after covid, are a main cause of today's inflation.

When you print that much money and spend that much money and handout that much money, like Trump did, it has an effect years latter. Republicans are trying to blame Biden for the consequences of Trump's put of control spending and deficits.

You are right to defend the facts when our MAGA Trump Republicans lay all the blame on “demonazis” for everything from budget deficits to inflation. You are right on the deficits going down the first two years of Biden, but the CNN article cited by excalibur in comment #36 is correct in explaining the main reason this is so. That article also rightly pointed out that the new corporate taxes and other initiatives to make the wealthy pay more — opposed by Repubs and still far too limited in scope — will starting this year help reduce the deficit in the future.

Also, on Fed QE policy: you are right to point out that Trump tried to push the Fed to adopt “zero interest rate policy” to further goose the economy — which fortunately the Fed resisted. This was the fundamental loose credit and money printing error adopted after the 2008 fiscal crisis. The eventual raising of rates was a Fed decision, which Biden’s administration did not implement but wisely accepted.

The trigger for the new wave of inflation (and the fight against it) was not merely the Covid spending under both Trump & Biden, but the inevitable result of Covid logistic and production problems, new tariffs imposed under Trump and continued by Biden, new sanctions against China (and Russia), New Cold War “de risking” expenses (economic restructuring and reshoring of industries leading to tremendous factory building in this country), and of course the war in Europe set off by Putin’s bloody invasion of sovereign Ukraine.

I appreciatiare you trying to counter the mad idiocy of Republican partisan demagogues on economic issues, but you do often simplify, misrepresent, or ignore all the complexities involved. Of course the Republicans these days are generally more cynical, ignorant and obstructionist than the Democrats and do not even try to see the big picture.

 

[The Banker]

You are right to defend the facts when our MAGA Trump Republicans lay all the blame on “demonazis” for everything from budget deficits to inflation. You are right on the deficits going down the first two years of Biden, but the CNN article cited by excalibur in comment #36 is correct in explaining the main reason this is so. That article also rightly pointed out that the new corporate taxes and other initiatives to make the wealthy pay more — opposed by Repubs and still far to low — will starting this year help reduce the deficit.

Also, on Fed QE policy: Trump tried to push the Fed to adopt “zero interest rate policy” to further goose the economy — which fortunately the Fed rejected. This was the fundamental loose credit and money printing error adopted after the 2008 fiscal crisis. The eventual raising of rates was a Fed decision, which Biden’s administration did not implement but wisely accepted.

The trigger for the new wave of inflation (and the fight against it) was not merely the Covid spending under both Trump & Biden, but the inevitable result of Covid logistic and production problems, nee tariffs imposed under Trump and continued by Biden, new sanctions against China and Russia, New Cold War “de risking” economic restructuring and restoring, and of course the war in Europe set off by Putin’s bloody invasion of sovereign Ukraine.

I appreciatiare you trying to counter the mad idiocy of Republican partisan demagogues on economic issues, but you do often simplify, misrepresent, or ignore all the complexities involved.

Some people forget that in 2019, the FED cut rates and did QE that they didn't really need to do.
Gov spending in 2019 was massive and the deficit was massive at $1T/yr.

Republicans don't understand that monetary policy has lag and when you spend recklessly and have massive fake money handouts and massive fake money printing, that will cause inflation in the future.

 

[Nostra]

Some people forget that in 2019, the FED cut rates and did QE that they didn't really need to do.
Gov spending in 2019 was massive and the deficit was massive at $1T/yr.

Republicans don't understand that monetary policy has lag and when you spend recklessly and have massive fake money handouts and massive fake money printing, that will cause inflation in the future.

So Tater hasn’t lowered the deficit if it was at $1 trillion pre Fauci flu.

You really are a colossal moron.

 

[Tom Paine 1949]

Some people forget that in 2019, the FED cut rates and did QE that they didn't really need to do.
Gov spending in 2019 was massive and the deficit was massive at $1T/yr.

Republicans don't understand that monetary policy has lag and when you spend recklessly and have massive fake money handouts and massive fake money printing, that will cause inflation in the future.

You are absolutely right about the Fed cutting rates in 2019 (three times) before reversing direction. Earlier in 2018 they actually defied Trump in starting to raise rates, but backed off as trade tensions with China seemed to be weakening the economy. Here is an article (10/30/2019) that explains their reasoning at that time and ends outlining their difference with always opportunist self-described “King of Debt” Donald Trump:

https://www.cnn.com/2019/10/30/economy/federal-reserve-rate-decision-october/index.html#:~:text=The Federal Reserve cut interest,between 1.5% and 1.75%.

 

[kaz]

A budget is not a deficit.

Leprechauns are short

 

[Harry Dresden]

Trump's out of control spending, massive money handouts AND record QE - that he needed in 2019 before covid, and then also after covid, are a main cause of today's inflation.

When you print that much money and spend that much money and handout that much money, like Trump did, it has an effect years latter. Republicans are trying to blame Biden for the consequences of Trump's put of control spending and deficits.

banker you think of trump way to much....you sound a tad obsessed with the guy....

 

[Lesh]

Deficits don't carry over from year to year.

But spending bills do

 

[The Banker]

So Tater hasn’t lowered the deficit if it was at $1 trillion pre Fauci flu.

You really are a colossal moron.

Trump and the republicans passed massive multi year spending bills that we are still paying for now.

We can;t lower the deficit when we have to pay for all the out of control spending the republicans passed.

Republicans have aterrible track record on spending and deficits. Reagan, Bush, and Trump all spent out of control and wildly destroying our balanced budgets and giving us all this debt and deficit.

Bush started with balanced budgets and left office with trillion dollar deficits and the economy in ruin
Trump started with $5-600B deficits and left office with a $3+T/yr deficit.

That is the problem right there, and the republicans caused it.

 

[Nostra]

Trump and the republicans passed massive multi year spending bills that we are still paying for now.

We can;t lower the deficit when we have to pay for all the out of control spending the republicans passed.

Republicans have aterrible track record on spending and deficits. Reagan, Bush, and Trump all spent out of control and wildly destroying our balanced budgets and giving us all this debt and deficit.

Bush started with balanced budgets and left office with trillion dollar deficits and the economy in ruin
Trump started with $5-600B deficits and left office with a $3+T/yr deficit.

That is the problem right there, and the republicans caused it.

Tater is running much higher deficits than Trump pre Fauci Flu, Simp.

 

[Nostra]

Barry Hussein (D) almost doubled our national debt.

 

[SeaMajor7]

Trump and the republicans passed massive multi year spending bills that we are still paying for now.

We can;t lower the deficit when we have to pay for all the out of control spending the republicans passed.

Republicans have aterrible track record on spending and deficits. Reagan, Bush, and Trump all spent out of control and wildly destroying our balanced budgets and giving us all this debt and deficit.

Bush started with balanced budgets and left office with trillion dollar deficits and the economy in ruin
Trump started with $5-600B deficits and left office with a $3+T/yr deficit.

That is the problem right there, and the republicans caused it.

How convenient you leave out your pet WAR in Ukraine that we're funding.

 

[Nostra]

Trump and the republicans passed massive multi year spending bills that we are still paying for now.

We can;t lower the deficit when we have to pay for all the out of control spending the republicans passed.

Republicans have aterrible track record on spending and deficits. Reagan, Bush, and Trump all spent out of control and wildly destroying our balanced budgets and giving us all this debt and deficit.

Bush started with balanced budgets and left office with trillion dollar deficits and the economy in ruin
Trump started with $5-600B deficits and left office with a $3+T/yr deficit.

That is the problem right there, and the republicans caused it.

US Constitution requires spending to originate in the House. Who led the House when those massive deficits under Trump happened? Why, it was Dimwingers led by Nazi Piglosi.

Another Banker thread fail.

 

[Nostra]

The Banker sux at math so bad he could be a high school math teacher in the Baltimore ISD.

 

[The Banker]

banker you think of trump way to much....you sound a tad obsessed with the guy....

I hold him accountable for his failed policies.

You and other republicans make excuses for Trump and Bush's total failure, and guess what the republicans keep on failing and keep on out of control spending. They know they can do whatever they want crime, corruption, spending, massive deficits etc and you and everybody else will make pathetic excuses to defend them, therefore they keep on destroying America.

The republicans are corrupt criminals who have failed America and their policies have destroyed America, worse yet you and other republicans can;t hold them accountable at all, and you make excuses for their failure, so they keep on failing and destroying America and you people don't care at all.

 

[The Banker]

You are absolutely right about the Fed cutting rates in 2019 (three times) before reversing direction. Earlier in 2018 they actually defied Trump in starting to raise rates, but backed off as trade tensions with China seemed to be weakening the economy. Here is an article (10/30/2019) that explains their reasoning at that time and ends outlining their difference with always opportunist self-described “King of Debt” Donald Trump:

https://www.cnn.com/2019/10/30/economy/federal-reserve-rate-decision-october/index.html#:~:text=The Federal Reserve cut interest,between 1.5% and 1.75%.

I agree

Some people are clueless to the policies of the politician they support and defend at all costs.

 

[Tom Paine 1949]

US Constitution requires spending to originate in the House. Who led the House when those massive deficits under Trump happened? Why, it was Dimwingers led by Nazi Piglosi.
Another Banker thread fail.

The Banker sux at math so bad he could be a high school math teacher in the Baltimore ISD.

Another two typically dim-witted ad hominem attacks by Nostra .

 

[The Banker]

US Constitution requires spending to originate in the House. Who led the House when those massive deficits under Trump happened? Why, it was Dimwingers led by Nazi Piglosi.

Another Banker thread fail.

Trump signed all those bills
Trump could have vetoed them and Trump could have made them negotiate less spending, but he didn't. He did the opposite and begged Congress for even more spending.

Stop blaming other for Trump's failed policies, on top of that Trump and the GOP blew up the deficit pre-covid with massive spending. They own this debt because they caused it.

Worse yet, GW Bush started his presidency with a balanced budget and ended with trillion dollar deficits, the economy in total ruin, and the balanced budget destroyed.

Republican caused this debt and they own it

 

[whitehall]

You almost gotta admire the propaganda skills of the left along with their minions in the media. If there is a government shutdown republicans will be blamed. If there's no government shutdown republicans will be blamed for spending. Meanwhile democrats act like bystanders and old Joe babbles incoherently.

 

[The Banker]

Deficits don't carry over from year to year.

YES THEY DO

The republicans pass these massive multi year spending bills and the spending is earmarked for future years, you are clueless.
Trump passed spending bills in 2017 with spending earmarked out to 2028, do some homework and go look that up.

The deficit does not start at zero each year, it starts at the level of debt based on the previous year.