The deficit is unlikely to shrink again, according to the Wall Street Journal,

[tyroneweaver]

57 billion highter than November 2022 equivalency
A trillion was put in covid relief. He won't have those numbers for his next address

Federal deficit hits record $249 BILLION - $57billion more than 2021

The deficit is still $57billion higher than it was in November of 2021, with federal spending up $28billion from last year to $501billion in November 2022, according to the Treasury Department.

www.dailymail.co.uk

• The federal deficit hit a record $249billion in November, with federal spending hitting record highs in consecutive months while tax revenues dropped

 

[JoeMoma]

If I go on a sending spree this year and spend 3 times what I earn in a year, it is pretty easy to reduce the amount of deficit spending next year and still spend much more than I earn.

 

[DGS49]

People have been saying this for decades, but, "Something has to give."

You can't continue spending this much more than you take in, even if you have the ability to (in effect) print money.

At some point in the not-too-distant future, the debt service will overwhelm discretionary spending, and Congress will have to start saying to the American people, "WE CAN'T CONTINUE FUNDING THIS STUFF!"

But as I say, people like me have been saying this since Newt Gingrich balanced the budget during the CLinton Administration, and "we" were projecting when the national debt would be paid off.

This cannot continue. But one thing is certain, when the shit hits the fan, it will be with a Republican Congress, and the Democrats will blame the Republicans for mismanagement when it happens. Some things never change.

 

[Concerned American]

People have been saying this for decades, but, "Something has to give."

You can't continue spending this much more than you take in, even if you have the ability to (in effect) print money.

At some point in the not-too-distant future, the debt service will overwhelm discretionary spending, and Congress will have to start saying to the American people, "WE CAN'T CONTINUE FUNDING THIS STUFF!"

But as I say, people like me have been saying this since Newt Gingrich balanced the budget during the CLinton Administration, and "we" were projecting when the national debt would be paid off.

This cannot continue. But one thing is certain, when the shit hits the fan, it will be with a Republican Congress, and the Democrats will blame the Republicans for mismanagement when it happens. Some things never change.

Three words. Balanced Budget Amendment.

 

[CowboyTed]

People have been saying this for decades, but, "Something has to give."

You can't continue spending this much more than you take in, even if you have the ability to (in effect) print money.

At some point in the not-too-distant future, the debt service will overwhelm discretionary spending, and Congress will have to start saying to the American people, "WE CAN'T CONTINUE FUNDING THIS STUFF!"

But as I say, people like me have been saying this since Newt Gingrich balanced the budget during the CLinton Administration, and "we" were projecting when the national debt would be paid off.

This cannot continue. But one thing is certain, when the shit hits the fan, it will be with a Republican Congress, and the Democrats will blame the Republicans for mismanagement when it happens. Some things never change.

Except the GOP model eventually has you borrowing more...

How about looking at large economic countries that actually have good fiscal discipline...

Germany

Yes that is 7 years of surplus up until COVID while US is generally 4% deficit and way 6.7% deficit in 2019...

So how do Germany do it? Well it is not in defence spending but in investing in their people and their infrastructure... Germany has a high wage model economy with a large middle class that powers its economy... Germans making less than $50k a year pay less tax than US but over that amount they pay more especially $100k+...
Healthcare coverage is universal and Third level education is free and access is completely on merit...

Reagan was the one that heavily increased borrowing...

 

[g5000]

Every time we have had a Republican president in the past 40 years, the deficit exploded. The deficit has decreased under every Democratic president.

And yet somehow, the New Right has been gaslighted to the point where they believe the GOP is the party of fiscal austerity.

 

[Ray From Cleveland]

57 billion highter than November 2022 equivalency
A trillion was put in covid relief. He won't have those numbers for his next address

Federal deficit hits record $249 BILLION - $57billion more than 2021

The deficit is still $57billion higher than it was in November of 2021, with federal spending up $28billion from last year to $501billion in November 2022, according to the Treasury Department.

www.dailymail.co.uk

• The federal deficit hit a record $249billion in November, with federal spending hitting record highs in consecutive months while tax revenues dropped

I'm sure with Republicans in charge the spending will decrease. One of the promises they made was to remove funds for the 87,000 new IRS agents Dementia planned on hiring. No more wasting money on green bullshit the Democrats have spent hundreds of billions on already. Buying votes with college loan payoffs isn't going to fly either.

When the deficit does go down they'll be giving Dementia all the credit like Democrats always do.

 

[g5000]

What our politicians have figured out, and what the rubes have not yet figured out, is that massive government spending is the easiest way to juice GDP growth.

Rather than do the heavy lifting of enacting policies which would actually improve the economy, they choose instead to spend and spend and spend.

As our politicians expand the size and scope of federal government, it makes spending not just easier, but mandatory.

 

[g5000]

I'm sure with Republicans in charge the spending will decrease.

And here we see the effects of the very gaslighting of which I just spoke!

 

[g5000]

It is positively mind boggling anyone can bleev the Republicans decrease spending.

You have to have seven pounds of brain damage to fall for that gag.

 

[Concerned American]

Well it is not in defence spending but in investing in their people

And why is this? It is because the US provides for their defense along with NATO who gets the majority of their funding from the US as well.

 

[tyroneweaver]

And here we see the effects of the very gaslighting of which I just spoke!

You need to watch the 1944 movie Gaslight so you know what the term means

 

[g5000]

You need to watch the 1944 movie Gaslight so you know what the term means

I know exactly what it means, and it definitely applies to the statement, "I'm sure with Republicans in charge the spending will decrease."



Guess what happened the last time the GOP controlled the House, the Senate, and the White House?

Go ahead. Guess.

And guess what happened the time before that.


"I'm sure with Republicans in charge the spending will decrease." Ohmygod that's priceless.

 

[B. Kidd]

57 billion highter than November 2022 equivalency
A trillion was put in covid relief. He won't have those numbers for his next address

Federal deficit hits record $249 BILLION - $57billion more than 2021

The deficit is still $57billion higher than it was in November of 2021, with federal spending up $28billion from last year to $501billion in November 2022, according to the Treasury Department.

www.dailymail.co.uk

• The federal deficit hit a record $249billion in November, with federal spending hitting record highs in consecutive months while tax revenues dropped

Welcome to Stagflation.

 

[tyroneweaver]

I know exactly what it means, and it definitely applies to the statement, "I'm sure with Republicans in charge the spending will decrease."



Guess what happened the last time the GOP controlled the House, the Senate, and the White House?

Go ahead. Guess.

And guess what happened the time before that.


"I'm sure with Republicans in charge the spending will decrease." Ohmygod that's priceless.

republican won't be in charge til jan 20. Any budget before then is a dem budget
And they are pushing hard b/c they know the gop is less

 

[CowboyTed]

I'm sure with Republicans in charge the spending will decrease. One of the promises they made was to remove funds for the 87,000 new IRS agents Dementia planned on hiring. No more wasting money on green bullshit the Democrats have spent hundreds of billions on already. Buying votes with college loan payoffs isn't going to fly either.

When the deficit does go down they'll be giving Dementia all the credit like Democrats always do.

So your plan for fiscal responsibility is allow tax cheats to get away with it by gutting the enforcement agency.

The 'green bullshit' is called investment, something the GOP don't like doing. You the run it into the ground and get the Dems to fix it and we will bitch about it until it is fixed again...

As for College loans, those countries that are actually fiscally responsible will all have Education as their best investment... They know having their brightest and best getting educated instead of who is rich enough is the best for their country...

What you are selling is bumper sticker politics, countries in the world actually living by there means know those stances as bullshit... Short term view which neglects the long term..

 

[Ray From Cleveland]

So your plan for fiscal responsibility is allow tax cheats to get away with it by gutting the enforcement agency.

The 'green bullshit' is called investment, something the GOP don't like doing. You the run it into the ground and get the Dems to fix it and we will bitch about it until it is fixed again...

As for College loans, those countries that are actually fiscally responsible will all have Education as their best investment... They know having their brightest and best getting educated instead of who is rich enough is the best for their country...

What you are selling is bumper sticker politics, countries in the world actually living by there means know those stances as bullshit... Short term view which neglects the long term..

What a bunch of horseshit. College loans--vote buying plain and simple. It's not like we are having a hard time getting people to attend college. In fact if anything, we need less people attending college. Why do you think college is so expensive today? That's right, supply and demand, and college is too much demand and not enough supply; people taking crap courses for careers there's no openings for.

No, we don't like spending money on something we have zero control over like the climate. We've spent tens of trillions of dollars on it already and envirokooks are more unhappy today than they were 50 years ago. And guess what? No matter how much we spend, they will never be happy. It's nothing more than a bottomless money pit that can't ever be filled even if we took every single US dollar in the country and threw it down there.

We need IRS agents so bad? Tell me, how many IRS agents are working 10 hours a day or six days a week? None of them. The more government employees, the more Democrat voters. That's what it's really about plus more ability to spy on American's transactions which they are already doing now.

 

[CowboyTed]

What a bunch of horseshit. College loans--vote buying plain and simple. It's not like we are having a hard time getting people to attend college. In fact if anything, we need less people attending college. Why do you think college is so expensive today? That's right, supply and demand, and college is too much demand and not enough supply; people taking crap courses for careers there's no openings for.

No, we don't like spending money on something we have zero control over like the climate. We've spent tens of trillions of dollars on it already and envirokooks are more unhappy today than they were 50 years ago. And guess what? No matter how much we spend, they will never be happy. It's nothing more than a bottomless money pit that can't ever be filled even if we took every single US dollar in the country and threw it down there.

We need IRS agents so bad? Tell me, how many IRS agents are working 10 hours a day or six days a week? None of them. The more government employees, the more Democrat voters. That's what it's really about plus more ability to spy on American's transactions which they are already doing now.

You keep at it.... Germany is out performing US in fiscally...

You believe the future for US is have them less educated while the wealthiest countries in the world are about having the most educated workforce possible. Just because you can't see outside the country is down to your blinkered view... You are banking on keeping people dumb as rocks and having them all voting Republican... More educated people generally vote Democrat...

Again, use the old ignorance route to Climate... The actual people that are educated and study climate have shown how we have influenced the climate and how we can stop it and then reverse it. But this is too much for you and the GOP... IF you listen to science, how are you going to make them believe is hocus pocus... On top of that there is a whole new industry in renewables which good paying jobs,

Solar Jobs Surpass the Wind and Fossil Fuel Industry Combined – Sungenia Solar

Plant cells convert solar energy into chemical energy, whereas man-made solar cells convert solar energy into electrical energy.

www.sungenia.com

Doesn't matter cause this makes you wrong and you can't admit you were wrong...

And the there is IRS agents... To not have enough IRS agents is to say that you support Tax Cheats... Tell us why you support Tax Cheats... Why do you support people paying more for the country and others cheating the amount democratically elected people have stated they must pay. Is this another anti democracy thing ye are going for?

Sorry but some of us don't support tax cheats.

 

[task0778]

I'm sure with Republicans in charge the spending will decrease.

I dunno Ray, the repubs in the Senate might be helping the dems pass a huge omnibus spending bill before Christmas. I will say though that a GOP House probably won't allow as much spending as a Pelosi-led House would. And it won't take many House RINOs to spend more in the next 2 years than they should. Fiscal sanity appears to be close to non-existent in DC, even among some repubs.

 

[busybee01]

If I go on a sending spree this year and spend 3 times what I earn in a year, it is pretty easy to reduce the amount of deficit spending next year and still spend much more than I earn.

Don't forget about those Trump tax cuts, the vast majority went to the rich. When you cut your revenue, that increases the deficit as well.