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Old 08-10-2018, 12:07 PM
 
Location: Kansas City, MISSOURI
9,013 posts, read 2,733,677 times
Reputation: 6945

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As many of us predicted, the budget deficit would continue to surge. And contrary to Trumpling claims about tax receipts going up in the wake of the tax cuts, they are actually DOWN compared to the same month last year.

https://www.marketwatch.com/story/fe...uly-2018-08-10
Quote:
The numbers: The federal government ran a monthly budget deficit of $77 billion in July, up 79% over the same month a year ago. For the first 10 months of fiscal 2018, the shortfall totals $684 billion, according to the Treasury Department. Thatís an increase of 21% compared to the same period in 2017.

What happened: Receipts fell 3% compared to last July, with the government getting less money from both corporations and individuals in the wake of the new tax law. Corporate revenues were down 34% as companies enjoyed a reduced 21% tax rate. And individuals continued to send fewer tax dollars to the Treasury, after lower withholding from paychecks took effect in February. President Donald Trump signed the law in December.
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Old 08-10-2018, 12:12 PM
 
Location: North America
19,634 posts, read 12,440,881 times
Reputation: 8282
Quote:
Originally Posted by James Bond 007 View Post
As many of us predicted, the budget deficit would continue to surge. And contrary to Trumpling claims about tax receipts going up in the wake of the tax cuts, they are actually DOWN compared to the same month last year.

https://www.marketwatch.com/story/fe...uly-2018-08-10
And the meager wage increases of 2.7% have been wiped out with 2.9% inflation.

MAGA y'all.
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Old 08-10-2018, 12:13 PM
 
45,165 posts, read 17,925,751 times
Reputation: 18913
Democrats and anti-Trumpers love to tell us how bad America is doing.


This is another case of it. Reality - economy is booming, people are working and support for Trump is surging.
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Old 08-10-2018, 12:16 PM
 
Location: Washington, DC
3,849 posts, read 3,969,978 times
Reputation: 6494
Not surprising, Trump always overestimates or reports (or outright lies about) his revenue.

His supporters think they got a small-gov't president but he's big government. Big government on enforcement (all the agencies that ultimately fail like the DEA and ICE) and massive government of the military to include the biggest bucket of waste we have.

He's small government on all the agencies that protect people and the environment.

Evil putz...
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Old 08-10-2018, 12:16 PM
 
Location: North America
19,634 posts, read 12,440,881 times
Reputation: 8282
Quote:
Originally Posted by WaldoKitty View Post
Democrats and anti-Trumpers love to tell us how bad America is doing.


This is another case of it. Reality - economy is booming, people are working and support for Trump is surging.
...So you like the deficit? OK, good to know.
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Old 08-10-2018, 12:17 PM
 
5,214 posts, read 1,564,639 times
Reputation: 3042
Quote:
Originally Posted by carterstamp View Post
...So you like the deficit? OK, good to know.
WaldoKitty's opinion on the deficit depends on who occupies the White House at that particular moment.
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Old 08-10-2018, 12:19 PM
 
29,741 posts, read 16,436,124 times
Reputation: 13817
Im good with a decrease in taxes, now lets slash spending. What say you all?
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Old 08-10-2018, 12:23 PM
 
Location: Kansas City, MISSOURI
9,013 posts, read 2,733,677 times
Reputation: 6945
Quote:
Originally Posted by WaldoKitty View Post
Reality - economy is booming, people are working and support for Trump is surging.
If the economy was booming, tax receipts would be booming. Since they aren't, it isn't.

Trumplings live in a fantasy world.
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Old 08-10-2018, 12:31 PM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,326 posts, read 14,041,763 times
Reputation: 6505
Quote:
Originally Posted by James Bond 007 View Post
As many of us predicted, the budget deficit would continue to surge. And contrary to Trumpling claims about tax receipts going up in the wake of the tax cuts, they are actually DOWN compared to the same month last year.

https://www.marketwatch.com/story/fe...uly-2018-08-10


proves one thing...we have a spending problem... the government needs to cut its bloated spending




from the article
Spending, meanwhile, jumped by 10% in July as the government shelled out more for programs across the board...... and Interest payments on the public debt jumped by 41% in the month.

Last edited by workingclasshero; 08-10-2018 at 12:56 PM..
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Old 08-10-2018, 12:32 PM
 
45,165 posts, read 17,925,751 times
Reputation: 18913
Quote:
Originally Posted by James Bond 007 View Post
If the economy was booming,tax receipts would be booming. Since they aren't, it isn't.

Trumplings live in a fantasy world.
LAWL


Not only do Democrats love to see America fail, they also argue that more taxes are a good thing. This is yet another example.

This is also why they can't win elections.




(insults, push for more taxes, hope America fails, you just witnessed the modern Democrat party in action)
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