US budget deficit totals $76.9 billion in July

ThunderKiss1965

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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:
Both Medicare and Social Security are Ponzi schemes
 

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:
Both Medicare and Social Security are Ponzi schemes
Didn't have to be compared to Ponzi schemes if they were actually well MANAGED and not ROBBED. And not overcharging the working poor for FICA for decades, stealing it and then asking YOU to pay it back again.
 

Luissa

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I will never understand why republicans pass tax cuts, especially for the 1% while we have a deficit?
For one, haven’t we learned yet that trickle down economics doesn’t work? That the middle class has the buying power? That tax cut the rich received wasn’t spent on saving jobs. They didn’t put that much back into the economy.
It’s like people having a problem with single moms receiving tax returns. They buy items that they couldn’t for. When your largest class of consumers only has money for essentials like food, rent, and bills you will never grow a healthy economy.


Sent from my iPhone using Tapatalk
 

Mac1958

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Politics don't make me emotional.
The GOP can fix all this with one teeny, tiny little change: Cut spending before taxes.

During campaigns, tell us EXACTLY what you're going to CUT first. Medicare, Medicaid, Welfare, Social Security, Departments, ALL OF IT.

Then, see if you get elected.

If you do, first make those cuts, and then cut taxes. THEN you'll REALLY be "the party of fiscal responsibility".

Easy peasy! You're welcome!
.
 

gipper

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The GOP can fix all this with one teeny, tiny little change: Cut spending before taxes.

During campaigns, tell us EXACTLY what you're going to CUT first. Medicare, Medicaid, Welfare, Social Security, Departments, ALL OF IT.

Then, see if you get elected.

If you do, first make those cuts, and then cut taxes.

Easy peasy! You're welcome!
.
Easier fix is cut defense (really war department) by 90% and eliminate the CIA and NSA. Win win for all Americans and the world.
 

Mac1958

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Politics don't make me emotional.
The GOP can fix all this with one teeny, tiny little change: Cut spending before taxes.

During campaigns, tell us EXACTLY what you're going to CUT first. Medicare, Medicaid, Welfare, Social Security, Departments, ALL OF IT.

Then, see if you get elected.

If you do, first make those cuts, and then cut taxes.

Easy peasy! You're welcome!
.
Easier fix is cut defense (really war department) by 90% and eliminate the CIA and NSA. Win win for all Americans and the world.
Well, I'd love to see the plan.

The GOP is never very forthcoming during campaigns, unfortunately.
.
 

gipper

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The GOP can fix all this with one teeny, tiny little change: Cut spending before taxes.

During campaigns, tell us EXACTLY what you're going to CUT first. Medicare, Medicaid, Welfare, Social Security, Departments, ALL OF IT.

Then, see if you get elected.

If you do, first make those cuts, and then cut taxes.

Easy peasy! You're welcome!
.
Easier fix is cut defense (really war department) by 90% and eliminate the CIA and NSA. Win win for all Americans and the world.
Well, I'd love to see the plan.

The GOP is never very forthcoming during campaigns, unfortunately.
.
True and either is the D party. They both are criminal enterprises.
 

Faun

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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
The deficit for FY2018 is already up more than $1 trillion...

9.30.2017: $20,244,900,016,053.51
8.14.2018: $21,351,570,155,673.96

Debt to the Penny (Daily History Search Application)
 

rightwinger

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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
Deficits don’t matter when Republicans are busy making America great
 

rightwinger

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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
The deficit for FY2018 is already up more than $1 trillion...

9.30.2017: $20,244,900,016,053.51
8.14.2018: $21,351,570,155,673.96

Debt to the Penny (Daily History Search Application)
Who runs a trillion dollar deficit in a strong economy?
 

gipper

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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
The deficit for FY2018 is already up more than $1 trillion...

9.30.2017: $20,244,900,016,053.51
8.14.2018: $21,351,570,155,673.96

Debt to the Penny (Daily History Search Application)
Who runs a trillion dollar deficit in a strong economy?
Obama
 

rightwinger

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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
The deficit for FY2018 is already up more than $1 trillion...

9.30.2017: $20,244,900,016,053.51
8.14.2018: $21,351,570,155,673.96

Debt to the Penny (Daily History Search Application)
Who runs a trillion dollar deficit in a strong economy?
Obama
Good example!

The Great Obama had an economy on the brink of a depression, auto companies were about to fail, the economy needed an influx of cash.
On top of that, the Great Obama cut the deficit in half

What excuse does Trump have for raising the deficit?
Other than giving tax breaks to himself and his billionaire buddies?
 

Old Yeller

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Sell assetts. Close many FED DEPTS. Cut costs on remaining (salaries-layoffs). Eliminate luxury travel, parties, seminars, Congress perks-waste. Stop FED bureaucratic pensions, put all FED into SS like other Americans. Balance budjet, pay off debt. Cut back upper bracket SALT blue Schumer tax cut, new revenue straight to debt.

Might cause temporary shock but it is there any choice?

Start somewhere.
 

Old Yeller

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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
The deficit for FY2018 is already up more than $1 trillion...

9.30.2017: $20,244,900,016,053.51
8.14.2018: $21,351,570,155,673.96

Debt to the Penny (Daily History Search Application)
Who runs a trillion dollar deficit in a strong economy?
Obama
Good example!

The Great Obama had an economy on the brink of a depression, auto companies were about to fail, the economy needed an influx of cash.
On top of that, the Great Obama cut the deficit in half

What excuse does Trump have for raising the deficit?
Other than giving tax breaks to himself and his billionaire buddies?


Sigh.....double everything then claim to cut by 1/2 is not impressive. Bake $1T stimulus spending into every year and hold it there is not a cut. No budjet approved....continuing "resolution". Yawning.
 

rightwinger

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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
The deficit for FY2018 is already up more than $1 trillion...

9.30.2017: $20,244,900,016,053.51
8.14.2018: $21,351,570,155,673.96

Debt to the Penny (Daily History Search Application)
Who runs a trillion dollar deficit in a strong economy?
Obama
Good example!

The Great Obama had an economy on the brink of a depression, auto companies were about to fail, the economy needed an influx of cash.
On top of that, the Great Obama cut the deficit in half

What excuse does Trump have for raising the deficit?
Other than giving tax breaks to himself and his billionaire buddies?


Sigh.....double everything then claim to cut by 1/2 is not impressive. Bake $1T stimulus spending into every year and hold it there is not a cut. No budjet approved....continuing "resolution". Yawning.
The Great Obama cut the deficit from $1.2 trillion to less than $500 billion

Crooked Donnie gave out tax breaks to all our billionaires and corporations and is jacking it up to a trillion again

Where is the Tea Party?
 

edthecynic

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For the current budget year, which ends Sept. 30, the administration is now projecting a deficit of $890 billion.
$890 billion my ass, the GOP National Debt has already increased by $1.1+ trillion this current fiscal budget year.
 

eagle1462010

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The GOP can fix all this with one teeny, tiny little change: Cut spending before taxes.

During campaigns, tell us EXACTLY what you're going to CUT first. Medicare, Medicaid, Welfare, Social Security, Departments, ALL OF IT.

Then, see if you get elected.

If you do, first make those cuts, and then cut taxes.

Easy peasy! You're welcome!
.
Easier fix is cut defense (really war department) by 90% and eliminate the CIA and NSA. Win win for all Americans and the world.
Well, I'd love to see the plan.

The GOP is never very forthcoming during campaigns, unfortunately.
.
I'm sure you would as Dems play politics on everything. What are Dems solution. You complain and offer notgnot in return.

Tax cuts historically increase revenue.
 

Mac1958

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Politics don't make me emotional.
The GOP can fix all this with one teeny, tiny little change: Cut spending before taxes.

During campaigns, tell us EXACTLY what you're going to CUT first. Medicare, Medicaid, Welfare, Social Security, Departments, ALL OF IT.

Then, see if you get elected.

If you do, first make those cuts, and then cut taxes.

Easy peasy! You're welcome!
.
Easier fix is cut defense (really war department) by 90% and eliminate the CIA and NSA. Win win for all Americans and the world.
Well, I'd love to see the plan.

The GOP is never very forthcoming during campaigns, unfortunately.
.
I'm sure you would as Dems play politics on everything. What are Dems solution. You complain and offer notgnot in return.

Tax cuts historically increase revenue.
Are you saying you wouldn't make any cuts?

Isn't it fiscally responsible to follow through on promises?

Specificity would be helpful.
.
 

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