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Old 08-12-2018, 10:10 AM
 
8,887 posts, read 3,937,990 times
Reputation: 1721

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Quote:
Originally Posted by Quick Enough View Post
"tax receipts would be booming. Since they aren't, it isn't." They ARE and it IS booming.


"Treasury: Federal Budget Surplus for April Largest on Record, Driven by Tax Deposits"


https://www.wsj.com/articles/treasur...its-1525976157

During the Obama admin, the treasury NEVER took in 2 billion a quarter.

Under Trump it has NEVER been UNDER 2 billion a quarter

https://fred.stlouisfed.org/series/W006RC1Q027SBEA
Great!

Take more money from the people and business. The middle class will love you for it!
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Old 08-12-2018, 10:36 AM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,335 posts, read 14,052,247 times
Reputation: 6510
Quote:
Originally Posted by Winter_Sucks View Post
So you admit that the deficit fell under Obama and is going up under Trump?
obamas last full year was 1.42 trillion.... don't call that ''fell''
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Old 08-12-2018, 10:44 AM
 
11,371 posts, read 7,351,233 times
Reputation: 4524
Quote:
Originally Posted by workingclasshero View Post
obamas last full year was 1.42 trillion.... don't call that ''fell''
The budget deficit for 2009 was 1.4 trillion. The budget deficit for 2016 was 548 billion.
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Old 08-12-2018, 02:48 PM
 
Location: Kansas City, MISSOURI
9,013 posts, read 2,738,961 times
Reputation: 6945
Here is the budget deficit by year under Obama:

https://www.usgovernmentspending.com...cit_chart.html

2009: $1,413 billion
2010: $1,294
2011: $1,295
2012: $1,087
2013: $679
2014: $485
2015: $438
2016: $585
2017: $665 (part Obama, part Trump)

Only 4 of 8 were under $1 trillion
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Old 08-12-2018, 03:11 PM
 
Location: Northridge/Porter Ranch, Calif.
22,383 posts, read 27,584,655 times
Reputation: 6540
Quote:
Originally Posted by Winter_Sucks View Post
The budget deficit for 2009 was 1.4 trillion. The budget deficit for 2016 was 548 billion.
And Republicans were in control of Congress in 2016 but not in 2009.
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Old 08-12-2018, 03:16 PM
 
Location: Kansas City, MISSOURI
9,013 posts, read 2,738,961 times
Reputation: 6945
Quote:
Originally Posted by Fleet View Post
And Republicans were in control of Congress in 2016 but not in 2009.
The economy was in a deep recession in 2008-09. That is the explanation for the deficit then, not the party in power.
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Old 08-12-2018, 03:37 PM
 
Location: Florida
63,078 posts, read 34,350,819 times
Reputation: 10475
Quote:
July US budget deficit up 79% compared to 7/2017. Tax receipts down 3%
Are we supposed to be surprised?

I am not surprised.

Quote:
Originally Posted by Fleet
And Republicans were in control of Congress in 2016 but not in 2009.
Their economic policies led to the collapse, and they are in charge right now, and the deficits are going through the roof.
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Old 08-12-2018, 03:50 PM
 
Location: Northridge/Porter Ranch, Calif.
22,383 posts, read 27,584,655 times
Reputation: 6540
Quote:
Originally Posted by James Bond 007 View Post
The economy was in a deep recession in 2008-09. That is the explanation for the deficit then, not the party in power.
And the deficits did not start going down until Republicans won control of Congress in the 2010 elections.

Quote:
Originally Posted by Finn_Jarber View Post
Their economic policies led to the collapse, and they are in charge right now, and the deficits are going through the roof.
What were their economic policies which led to the collapse? Deficits going through roof? What about the last administration's deficits?
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Old 08-12-2018, 04:26 PM
 
Location: Florida
63,078 posts, read 34,350,819 times
Reputation: 10475
Quote:
Originally Posted by Fleet View Post
What were their economic policies which led to the collapse? Deficits going through roof? What about the last administration's deficits?
The policies which failed to stop the predatory lending practices in 2003 when the bubble started forming. As opposed to stopping it, they threw more fuel in the fire.

Last admin brought the deficits down, and this admit it bringing them up.

Few examples of GOP economic policies which caused the collapse

Bush's mission to get 5.5 million low income minorities mortgages when they would not otherwise qualify for them.

- Mobilizing the Private Sector: America's Homeownership Challenge

- Establish a national goal of at least 5.5 million new minority homeowners before the end of the decade.

- Challenge the private sector real estate and mortgage finance industries to dramatically increase their efforts to reduce the barriers to homeownership faced by minority families and to work with the nonprofit sector in a concerted effort to achieve this goal through national and local partnerships.

- Convene a White House Conference on Increasing Minority Homeownership, to highlight the homeownership barriers faced by minorities and develop proposed solutions.

- A substantial increase of at least $440 billion in the financial commitment made by the government-sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market;

- Twenty-five different local initiatives to be undertaken across the nation, geared toward eliminating the specific homeownership barriers faced by minority families in those communities;

- A commitment to raise $750 million in below-market-rate investments by 2007, which will work in collaboration with local homeownership initiatives and be targeted to heavily minority program areas;

- Pursuing strategic partnerships in 20 top housing markets between homebuilders, lenders, local officials, and community leaders to develop approaches that address the local challenges to building homes for minority families living in urban centers;

- Establishing of faith-based housing partnerships between the participants and at least 100 churches, mosques, synagogues, and other faith-based institutions;

- Aggressively developing new mortgage products so that conventional market alternatives are available to combat the predatory loan products that are disproportionately targeted to minorities;

- Creating new mortgage products to meet the unique needs of recent immigrants;

- Dramatically expanding financial education efforts for minorities, providing financial counseling to at least 380,000 minority families, and taking measures at the local level to reduce predatory lending; and

- Establishing multilingual, consumer-oriented internet Web sites designed to help minorities overcome barriers to homeownership, including creation of a central data bank of affordable housing programs made available to real estate agents when working with clients.
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Old 08-12-2018, 04:32 PM
 
Location: Long Island
33,048 posts, read 13,945,981 times
Reputation: 7042
Quote:
Originally Posted by Hoonose View Post
We will of course have a future recession.

But as of today with...

Low unemployment

High productivity

Deficit spending

Lower taxes

Inflation is more a possibility short/medium term, not recession.
Bond inversions have preceded every prior recession, confidence in long term bonds is low. Agree on inflation.
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