The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

[NYcarbineer]

And when did "conservative" come to mean being ok with rampant overspending and huge debts?

Sad.

Try about 1981.

This is beginning to look like 1981 all over again. The original Reagan tax cut in 81 decreased revenues so much that even the Reaganites were panicked enough to turn around and pass a huge tax INCREASE in 1982.

 

[NYcarbineer]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

/----/ After Obozo decimated the military, Trump has to rebuild it. Same thing happened to Reagan and GWB.

What a ridiculous lie.

Yep - Obama hasn't "decimated the military" - Just a simplistic red meat talking point for Trumplings.
Here are a couple of fair and balanced analyses:

PolitiFact Sheet: Military spending under Obama and Congress
Fact Check: Has President Obama 'Depleted' The Military?

Republicans always make such claims to justify more defense spending because Republicans work for the defense lobby.

 

[Meathead]

It is people like Trump who want to stoo this country from becoming a shit hole which our kids and grandkids will have to live in. If building a wall and creating private-sector jobs adds to the debt, so be it. Wasting money and redistrubting wealth was Obama's solution. Now we will at least get something for our money.

i think we all want to stoo this country from becoming a shithole.

whatever that means

It means building the wall and stopping people from shit holes coming in. WTF do you think it means?

 

[Meathead]

Try about 1981.

This is beginning to look like 1981 all over again. The original Reagan tax cut in 81 decreased revenues so much that even the Reaganites were panicked enough to turn around and pass a huge tax INCREASE in 1982.

God, I hope so. We could use another morning in America. We had a string of failed presidents before the civil war, before Reagan and before Trump.

 

[Cellblock2429]

And when did "conservative" come to mean being ok with rampant overspending and huge debts?

Sad.

Try about 1981.

This is beginning to look like 1981 all over again. The original Reagan tax cut in 81 decreased revenues so much that even the Reaganites were panicked enough to turn around and pass a huge tax INCREASE in 1982.

/-----/ Bull. "In 1980, the last year before the tax cuts, tax revenues were $956 billion (in constant 1996 dollars).

Revenues exceeded that 1980 level in eight of the next 10 years. Annual revenues over the next decade averaged $102 billion above their 1980 level (in constant 1996 dollars).

Any increase in budget deficits was therefore the result of spending increases rather than tax cut-induced revenue decreases."
Tax Cuts Increase Federal Revenues

 

[Cellblock2429]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

/----/ After Obozo decimated the military, Trump has to rebuild it. Same thing happened to Reagan and GWB.

What a ridiculous lie.

Yep - Obama hasn't "decimated the military" - Just a simplistic red meat talking point for Trumplings.
Here are a couple of fair and balanced analyses:

PolitiFact Sheet: Military spending under Obama and Congress
Fact Check: Has President Obama 'Depleted' The Military?

Republicans always make such claims to justify more defense spending because Republicans work for the defense lobby.

/----/ democRATS work for Planned Parenthood and the Communist Party.

 

[WinterBorn]

It is people like Trump who want to stoo this country from becoming a shit hole which our kids and grandkids will have to live in. If building a wall and creating private-sector jobs adds to the debt, so be it. Wasting money and redistrubting wealth was Obama's solution. Now we will at least get something for our money.

i think we all want to stoo this country from becoming a shithole.

whatever that means

It means building the wall and stopping people from shit holes coming in. WTF do you think it means?

We don't need a wall. In fact, the wall won't work.

Want to stop the flood of immigrants? Start busting businesses that use illegal immigrant labor. Problem solved. Don't let them use social service except in emergencies.

But that would mean attacking the businesses that have kept the flood of immigrants coming.

 

[Meathead]

It is people like Trump who want to stoo this country from becoming a shit hole which our kids and grandkids will have to live in. If building a wall and creating private-sector jobs adds to the debt, so be it. Wasting money and redistrubting wealth was Obama's solution. Now we will at least get something for our money.

i think we all want to stoo this country from becoming a shithole.

whatever that means

It means building the wall and stopping people from shit holes coming in. WTF do you think it means?

We don't need a wall. In fact, the wall won't work.

Want to stop the flood of immigrants? Start busting businesses that use illegal immigrant labor. Problem solved. Don't let them use social service except in emergencies.

But that would mean attacking the businesses that have kept the flood of immigrants coming.

I defer to those who patrol the border as to the wall. Having some tired hack tell me on USMB telling me the wall won't work just doesn't cut it. Nothing personal.

 

[WinterBorn]

It is people like Trump who want to stoo this country from becoming a shit hole which our kids and grandkids will have to live in. If building a wall and creating private-sector jobs adds to the debt, so be it. Wasting money and redistrubting wealth was Obama's solution. Now we will at least get something for our money.

i think we all want to stoo this country from becoming a shithole.

whatever that means

It means building the wall and stopping people from shit holes coming in. WTF do you think it means?

We don't need a wall. In fact, the wall won't work.

Want to stop the flood of immigrants? Start busting businesses that use illegal immigrant labor. Problem solved. Don't let them use social service except in emergencies.

But that would mean attacking the businesses that have kept the flood of immigrants coming.

I defer to those who patrol the border as to the wall. Having some tired hack tell me on USMB telling me the wall won't work just doesn't cut it. Nothing personal.

I'm not tired at all.

But between the tunnels that have been documented and the plethora of illegals that came here and overstayed their visas, the numbers blocked by a wall is not even close to a solution. And as long as they know they will be paid to work, they will keep coming. Look at the illegal immigration numbers for 2008 and 2009. They were so low as to be negative at times. No jobs means no immigrants.

 

[eagle1462010]

Government - Interest Expense on the Debt Outstanding

 

[eagle1462010]

 

[deanrd]

Who knew giving money away to billionaires cost so much?

 

[eagle1462010]

We are going to hit the ice berg.....................it's only a matter of when.

 

[evenflow1969]

Blaming this on your favorite whipping boy is not going to work here. BTW...Obama did not 'Decimate' the military. His administration did spend less..they also did less. There was a draw-down from post-9/11 levels--not quite the same thing at all.

You just wish to ignore that reduced revenues are going to result in even more borrowing....and the result may well be a recession.[/QUOTE]

You should keep up on the military more. Yes Obama decimated the military. Sequestration has ruined our military and it needs to be rebuilt. Typical of the Dems to go after the military. Wanting us to be as weak as European nations seems to be the goal of the Dems.[/QUOTE]
STFU. Obama did not decimate the military. You fuicking liar

 

[EvilEyeFleegle]

It is people like Trump who want to stoo this country from becoming a shit hole which our kids and grandkids will have to live in. If building a wall and creating private-sector jobs adds to the debt, so be it. Wasting money and redistrubting wealth was Obama's solution. Now we will at least get something for our money.

i think we all want to stoo this country from becoming a shithole.

whatever that means

It means building the wall and stopping people from shit holes coming in. WTF do you think it means?

We don't need a wall. In fact, the wall won't work.

Want to stop the flood of immigrants? Start busting businesses that use illegal immigrant labor. Problem solved. Don't let them use social service except in emergencies.

But that would mean attacking the businesses that have kept the flood of immigrants coming.

I defer to those who patrol the border as to the wall. Having some tired hack tell me on USMB telling me the wall won't work just doesn't cut it. Nothing personal.

I'm not tired at all.

But between the tunnels that have been documented and the plethora of illegals that came here and overstayed their visas, the numbers blocked by a wall is not even close to a solution. And as long as they know they will be paid to work, they will keep coming. Look at the illegal immigration numbers for 2008 and 2009. They were so low as to be negative at times. No jobs means no immigrants.

Why this is so hard for some to grasp eludes me...cut off the flow of money that is so attractive...no jobs...jail the business owners that employ illegals. The wall is a distraction..all Trump has to do is enforce the existing law..but he does not...all this crying about Sanctuary this and that...the Fed could deport millions..if the will was there. But..no...the optics are bad...and illegal labor is used by both R and D owners.

I live in Twin Falls, Idaho...heart of Trump country. This area is quietly becoming one of the Nations dairy centers..and all the dairies employ illegals...everyone knows it. LEA knows it. The Dairy owners..Trump supporters all....actually requested that there be no enforcement..because they said that if they lost all the illegal labor..they would have to shut down...because in an economy where our unemployment hovers around 2%...no one will work the cows..for the wages they wish to pay. Where is ICE, Hmmm?


How Trump’s Immigration Crackdown Threatens to Choke Idaho’s Dairy Industry

"Dairy farmers lean heavily Republican in this deeply red state of only 1.7 million people, where 88 percent of the voting-age population are non-Hispanic whites. But in the age of Donald Trump—who won Idaho handily —even the farmers who supported the new president fear their businesses are about to run headlong into a harsh political reality. They’re frightened that Trump’s aggressive deportation policies will soon start to pick off or push away the mostly Hispanic immigrants who do the gritty work that Americans aren’t interested in doing. Many of these workers are probably undocumented, farmers acknowledge, yet they’re the sturdy backbone of a surging industry. Here in the Magic Valley, the farmers’ perspective is starkly different from the president’s claim that undocumented workers “compete directly against vulnerable American workers.”

 

[edthecynic]

"In 1980, the last year before the tax cuts, tax revenues were $956 billion (in constant 1996 dollars).

Revenues exceeded that 1980 level in eight of the next 10 years. Annual revenues over the next decade averaged $102 billion above their 1980 level (in constant 1996 dollars).

Notice the gymnastics the Right has to do to get the loss in revenue from St Ronnie's tax cuts to look better. 1981 was actually the last year of revenue before the Reagan tax cuts, which were retroactive to July, so if you take the 1981 revenue and add back the retroactive tax cut you will have the actual revenue for 1981 before tax cuts and that would be the real base of $1,054.8 billion from which to calculate the lost revenue from Reagan's tax cuts. With those real numbers it took 6 years to finally increase before tax cut revenue.

The chart from your link:

 

[edthecynic]

Government - Interest Expense on the Debt Outstanding

So $3 trillion of Obama's $8 trillion debt was interest on the GOP national debt he inherited.

 

[Cellblock2429]

"In 1980, the last year before the tax cuts, tax revenues were $956 billion (in constant 1996 dollars).

Revenues exceeded that 1980 level in eight of the next 10 years. Annual revenues over the next decade averaged $102 billion above their 1980 level (in constant 1996 dollars).

Notice the gymnastics the Right has to do to get the loss in revenue from St Ronnie's tax cuts to look better. 1981 was actually the last year of revenue before the Reagan tax cuts, which were retroactive to July, so if you take the 1981 revenue and add back the retroactive tax cut you will have the actual revenue for 1981 before tax cuts and that would be the real base of $1,054.8 billion from which to calculate the lost revenue from Reagan's tax cuts. With those real numbers it took 6 years to finally increase before tax cut revenue.

The chart from your link:

/----/ Say what?

 

[Dont Taz Me Bro]

/----/ After Obozo decimated the military, Trump has to rebuild it. Same thing happened to Reagan and GWB.

What bullshit. The military has not been decimated by any means. We spend more money than the next ten countries combined and we wouldn't have to if we weren't sticking our nose in everybody else's business.

 

[Cellblock2429]

/----/ After Obozo decimated the military, Trump has to rebuild it. Same thing happened to Reagan and GWB.

What bullshit. The military has not been decimated by any means. We spend more money than the next ten countries combined and we wouldn't have to if we weren't sticking our nose in everybody else's business.

/----/ I'll take The Hill's word over yours anyday: Congressional leaders are also preparing the FY2018 national defense budget, which must not only reverse sequestration’s crippling cuts but also lift defense spending substantially above the President’s budget request in order to begin rebuilding the military in earnest.
U.S. military readiness crisis: A call to action for Congress