US budget deficit totals $76.9 billion in July

Dont Taz Me Bro

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And here is our fiscally "responsible" Republican Party. What happened to the deficit hawks? What happened to all the wailing and gnashing of teeth about the growing debt when Obama was in office?

The Trump administration last month sharply revised upward its deficit estimates, projecting annual deficits will once again top $1 trillion next year.

For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year’s deficit of $665.8 billion.

The administration’s July estimates project that the deficit will top $1 trillion in 2019, climbing to $1.1 trillion that year, and remaining above $1 trillion for three years.


US budget deficit totals $76.9 billion in July
 

tyroneweaver

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As president of the rw's.
This is the biggest security risk to our nation.
Because when it comes crashing down. Holy Moly.
 

BlackFlag

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And here is our fiscally "responsible" Republican Party. What happened to the deficit hawks? What happened to all the wailing and gnashing of teeth about the growing debt when Obama was in office?

The Trump administration last month sharply revised upward its deficit estimates, projecting annual deficits will once again top $1 trillion next year.

For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year’s deficit of $665.8 billion.

The administration’s July estimates project that the deficit will top $1 trillion in 2019, climbing to $1.1 trillion that year, and remaining above $1 trillion for three years.


US budget deficit totals $76.9 billion in July
^ RINO
 

flacaltenn

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And here is our fiscally "responsible" Republican Party. What happened to the deficit hawks? What happened to all the wailing and gnashing of teeth about the growing debt when Obama was in office?

The Trump administration last month sharply revised upward its deficit estimates, projecting annual deficits will once again top $1 trillion next year.

For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year’s deficit of $665.8 billion.

The administration’s July estimates project that the deficit will top $1 trillion in 2019, climbing to $1.1 trillion that year, and remaining above $1 trillion for three years.


US budget deficit totals $76.9 billion in July
Revenues are up. You pessimist. :D

There's a whole story that NO ONE wants to tell. It's like a Code of Silence that every politician and economic commentator will not break. Here's the story. Soc Sec went negative in 2010 -- about 6 to 8 years ahead of schedule. 10,000 folks A DAY retiring. Medicare deficits SKY HIGH.

The difference in 2012 was instead of raking in a "profit" of $50Billion SS surplus for the govt to put against Treasury debits, they were faced with SHORTFALL of $50Bill. The swing in term of deficit was $100Bill for that year. Because there's nothing of value in the "trust fund" and the Treasury has to book it and raise cash thru deficit spending.

When you add in the shortfall for Medicare -- it's about $300Bill a year now that adds to the deficit every year. That's 1/3 of the deficit and climbing as the "Baby Boomer" crisis deepens.

The reason NO ONE wants to mention this is that in order to explain it -- you have to INFORM the public that the Trust Fund is nothing but a sinister accounting farce. And that debt was NEVER BOOKED or turned into liquidity when the govt stole the surplus for all those years.

Ain't NO ONE wants to bring THAT giant stink bomb up right now with the Nation on the brink of hand to hand fighting in the streets. :scared1:
 

flacaltenn

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No USA leadership wants to be the one to break open this monstrous "bad news". Including the 2 past Presidents who had to take the blame for this giant portion of the ACTUAL debt. GW Bush TRIED to use the surplus -- when there still WAS a surplus -- to offset future debt with his plan to exchange slightly lower FICA contributions thru volunteers in exchange for reduced future benefits.

And the politicians and the media are STILL carrying the lie about SSoc "on track to go broke by 2020 or 2023." It was dead ass broke back in 2010 because the "interest" is part of the accounting fiction.

Even the SSAdministration in very back of every of annual report carries this statement after they repeat the mantra of the phoney accounting for 10 or 12 pages.

This is an old one -- there are newer ones.

http://www.socialsecurity.gov/history/pdf/tr09summary.pdf

Neither the redemption of trust fund bonds, nor
interest paid on those bonds, provides any new net income to the Treasury,
which must finance redemptions and interest payments through
some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.

If any of you SEE a brave soul who decides to break the silence -- please tell me. Because it's uncanny that this is a forbidden part of the "debt/deficit" analysis.


.
 
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Mousterian

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Not the old 'It's O'Bummer's fault' excuse again?
 

S.J.

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For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion.
Which is about half of the deficit under Obama at the same point of his presidency, only without the GDP growth (which, as a percentage, makes the deficit even lower). Therefore, the trend is down.
 

JakeStarkey

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It is Congress' responsibility, not Clinton or Bush or Obama or Trump.
 

Natural Citizen

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For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion.
Which is about half of the deficit under Obama at the same point of his presidency, only without the GDP growth (which, as a percentage, makes the deficit even lower). Therefore, the trend is down.
GDP growth is mostly a result of the government spending, though.
 

S.J.

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For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion.
Which is about half of the deficit under Obama at the same point of his presidency, only without the GDP growth (which, as a percentage, makes the deficit even lower). Therefore, the trend is down.
GDP growth is mostly a result of the government spending, though.
Elaborate?
 

MindWars

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And here is our fiscally "responsible" Republican Party. What happened to the deficit hawks? What happened to all the wailing and gnashing of teeth about the growing debt when Obama was in office?

The Trump administration last month sharply revised upward its deficit estimates, projecting annual deficits will once again top $1 trillion next year.

For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year’s deficit of $665.8 billion.

The administration’s July estimates project that the deficit will top $1 trillion in 2019, climbing to $1.1 trillion that year, and remaining above $1 trillion for three years.


US budget deficit totals $76.9 billion in July

Shouldn't this be moved into " Economy" or Finance

:iyfyus.jpg:sorry d***k wad I couldn't resisit.
 

CrusaderFrank

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And here is our fiscally "responsible" Republican Party. What happened to the deficit hawks? What happened to all the wailing and gnashing of teeth about the growing debt when Obama was in office?

The Trump administration last month sharply revised upward its deficit estimates, projecting annual deficits will once again top $1 trillion next year.

For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year’s deficit of $665.8 billion.

The administration’s July estimates project that the deficit will top $1 trillion in 2019, climbing to $1.1 trillion that year, and remaining above $1 trillion for three years.


US budget deficit totals $76.9 billion in July
Trump needs to liquidate the leadership of the democrat Party and many of the RINO's as well. I keep imagining a massive Corleone Baptism event where Soros, the Clintons, Mueller, Sessions, Comey, Barzini, Cuneo and Moe Green all get take out on the same day: arrested and hauled away for sedition, treason and Conspiracy against the USA.

That will make the remaining RINOs kiss his ring
 

Skylar

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And here is our fiscally "responsible" Republican Party. What happened to the deficit hawks? What happened to all the wailing and gnashing of teeth about the growing debt when Obama was in office?

The Trump administration last month sharply revised upward its deficit estimates, projecting annual deficits will once again top $1 trillion next year.

For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year’s deficit of $665.8 billion.

The administration’s July estimates project that the deficit will top $1 trillion in 2019, climbing to $1.1 trillion that year, and remaining above $1 trillion for three years.


US budget deficit totals $76.9 billion in July
Free Trade, Family Values, Fiscal Responsibility, States Rights, its all just lip service for useful idiots.

Republicans have no particular values. There party doesn't really stand for anything save tax cuts for corporations....and fucking with women's reproduction.
 

Skylar

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And here is our fiscally "responsible" Republican Party. What happened to the deficit hawks? What happened to all the wailing and gnashing of teeth about the growing debt when Obama was in office?

The Trump administration last month sharply revised upward its deficit estimates, projecting annual deficits will once again top $1 trillion next year.

For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion. That would be up 33.7 percent from last year’s deficit of $665.8 billion.

The administration’s July estimates project that the deficit will top $1 trillion in 2019, climbing to $1.1 trillion that year, and remaining above $1 trillion for three years.


US budget deficit totals $76.9 billion in July
Trump needs to liquidate the leadership of the democrat Party and many of the RINO's as well. I keep imagining a massive Corleone Baptism event where Soros, the Clintons, Mueller, Sessions, Comey, Barzini, Cuneo and Moe Green all get take out on the same day: arrested and hauled away for sedition, treason and Conspiracy against the USA.

That will make the remaining RINOs kiss his ring
Your imagination is rather....authoritarian.
 

flacaltenn

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so fla you are all for cuts to medicare? which everyone was forced to pay into
Nope. The promise was universal retirement insurance and universal senior care. And any reforms should not affect anyone over 50. BOTH tribes are responsible for the thievery and the lying. But YOUR tribe blew smoke and puffed out bullshit about the plan to USE THE SSec SURPLUS for the BENEFIT of SSec --- when libertarian think tank proposed the plans to trade volunteer reductions in FICA for volunteer reductions in future benefits. That would have been about $500Bill in actual help to the Treasury that now has to book all shortfalls as NEW DEBT.

So you were robbed twice for the same amount.

Just don't even TRY to propose Universal Anything in the future where the Govt can't create a REAL unraidable trust fund and make REAL investments in any surpluses. I don't think ANYONE in 2020 is gonna trust this govt with Universal anything anymore.
 

Johnlaw

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Republicans don't give a shit for fiscal responsibility. Since Reagan they are the party of deficits and debt.
 

task0778

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so fla you are all for cuts to medicare? which everyone was forced to pay into
Nope. The promise was universal retirement insurance and universal senior care. And any reforms should not affect anyone over 50. BOTH tribes are responsible for the thievery and the lying. But YOUR tribe blew smoke and puffed out bullshit about the plan to USE THE SSec SURPLUS for the BENEFIT of SSec --- when libertarian think tank proposed the plans to trade volunteer reductions in FICA for volunteer reductions in future benefits. That would have been about $500Bill in actual help to the Treasury that now has to book all shortfalls as NEW DEBT.

So you were robbed twice for the same amount.

Just don't even TRY to propose Universal Anything in the future where the Govt can't create a REAL unraidable trust fund and make REAL investments in any surpluses. I don't think ANYONE in 2020 is gonna trust this govt with Universal anything anymore.
Progressive Democrats will push for Universal Health Care, you can bet your ass on that. I wouldn't bet against it if they ever regain control of Congress and the WH.
 

JakeStarkey

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Neither GOP or Dems care about fiscal responsibility, and I am not sure that the so-called libertarians are, either. It's either tax or borrow.
 

flacaltenn

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Neither GOP or Dems care about fiscal responsibility, and I am not sure that the so-called libertarians are, either. It's either tax or borrow.
Libertarians and Independent voices are THE ONLY hope for fiscal sanity. Elect a handful of them to Congress and SEE the diff. The TParty is also primarily convicted to do something about it. And they have blocked the Repubs on many occasions from caving on excess spending.
 

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