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"President Trump on Monday will offer a budget plan that falls far short of eliminating the government’s deficit over 10 years, conceding that huge tax cuts and new spending increases make this goal unattainable, three people familiar with the proposal said.
Eliminating the budget deficit over 10 years has been a North Star for the Republican Party for several decades, and GOP lawmakers took the government to the brink of default in 2011 when they demanded a vote on a amendment to the Constitution that would prohibit the federal government from spending more than it takes in."
Weird how little attention this has received, people like to claim its great to have a president that lives up to his campaign promises. He wont even have a balanced budget in 10 years we can forget about eliminating the deficit entirely. Trump was supposed to bring his business experience into play to balance the budget, instead he increased spending and cut taxes.
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The White House budget request would add $984 billion to the federal deficit next year, despite proposed cuts to programs like Medicare and food stamps and despite leaner budgets across federal agencies, including the Environmental Protection Agency.
Mr. Trump’s budget statement calls deficits the harbingers of a “desolate” future, but the White House plan would add $7 trillion to the deficit over the next 10 years.
Great. I'm supposed to believe the NYT and WAPO after 18 months of Russia, Russia, Russia; After completely screwing the political forecasting pooch BIG time in Nov of 2016; & completely ignoring & never reporting the 1 Trillion per year Deficit that occurred during EACH of Obama's 8 years.
Come back and post next year.....but only if these gloom and doom Trump forecasts come to pass (in 11 months). But if (as expected) the economy continues to improve (delivering higher govt revenues) & Corporate Profits continue to repatriate (providing 100s of Billions of Found Revenue and REAL debt reduction), then don't come back.
Please, don't. come. back I want all Wapo, NYT and CD economic neophytes to please just go away. The posts are silly. Go back to the little kids table and discuss the Superbowl halftime show. Or you can discuss Russia, Russia, Russia. Or whatever it is silly Wombats like to discuss.
The rest of us adults are tired of the distractions and need to keep working.
Great. I'm supposed to believe the NYT and WAPO after 18 months of Russia, Russia, Russia; Completely screwing the political forecasting pooch in Nov of 2016; & completely ignoring 1 Trillion per year Deficit for EACH of Obama's 8 years.
That is factually wrong. Obama was reducing the deficit pretty regularly. Taking it from 1.4 trillion on his first year, down to 665 billion his last year.
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Come back and post next year.....but only if these gloom and doom Trump forecasts come to pass (in 11 months). But if (as expected) the economy continues to improve (delivering higher govt revenues) & Corporate Profits continue to repatriate (providing 100s of Billions of Found Revenue and REAL debt reduction), then don't come back.
Please. even with those rosy assumptions this is what the deficit is estimated. If Trump ad co are wrong about it, it will be even worse.
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Please, don't. come. back I want all Wapo, NYT and CD economic neophytes to please just go away. The posts are silly. Go back to the little kids table and discuss the Superbowl halftime show. Or you can discuss Russia, Russia, Russia. Or whatever it is silly Wombats like to discuss.
Or deal with facts and history. You start off demonstrating you know neither by talking about Obama running a trillion in deficit for every year. You end by calling people names. nice.
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The rest of us adults are tired of the distractions and need to keep working.
Distractions like trillions more in debt? Since im one of those working and paying it, I think of it as something more then a distraction.
Great. I'm supposed to believe the NYT and WAPO after 18 months of Russia, Russia, Russia; After completely screwing the political forecasting pooch BIG time in Nov of 2016; & completely ignoring & never reporting the 1 Trillion per year Deficit that occurred during EACH of Obama's 8 years.
Come back and post next year.....but only if these gloom and doom Trump forecasts come to pass (in 11 months). But if (as expected) the economy continues to improve (delivering higher govt revenues) & Corporate Profits continue to repatriate (providing 100s of Billions of Found Revenue and REAL debt reduction), then don't come back.
Please, don't. come. back I want all Wapo, NYT and CD economic neophytes to please just go away. The posts are silly. Go back to the little kids table and discuss the Superbowl halftime show. Or you can discuss Russia, Russia, Russia. Or whatever it is silly Wombats like to discuss.
The rest of us adults are tired of the distractions and need to keep working.
We ran over a $1T deficit in Obama's first 3 years during the great recession, the deficit next year will exceed any of the other years. We had a very good reason for running $1T deficits back then, why are we running a deficit of $1T in 2018?? So your prediction is for good times, we will have economic growth and that will make the difference.
You failed to address Trumps promise for wiping out the debt in 10 years, where did that promise go. Try sticking to the topic rather than the usual "Obama" and at least get your facts straight.
What about the "Tea Party"? Whatever happened to that movement which supposedly was founded on cutting government spending and so forth? Haven't heard a peep out of them and or those elected to Congress on that platform.
One supposes several years in Washington now those who remain have gone "inside the Beltway", and have been got at; now like most other politicians they care more about getting their taste than anything else.
If we are still taking on debt in this economy when do they ever expect a balanced budget.
People need to face the fact for it is a fact the USA will *NOT* have a balanced budget in foreseeable future. Unless or until Congress looks down and realizes they have a pair and together both parties work at crafting a solution.
Perhaps the only way this country will get any sort of fiscal restraint is if it is imposed from outside. When or if the world credit markets cease willing to lend USA money at "cheap" rates, then you are going to see some action.
While great for those holding money market and other savings accounts, those sort of rates would bring this current stock market crashing down.
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