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You act as though Obama wasnt a member of that same spendy congress during the Bush admin.
And you could have saved yourself some time by just posting "spending by their guy bad, spending by my guy good"
The last thing any admin needs is more of the peoples money as it already steals several trillion from us every year.
Advocating it take more is simply criminal.
Let me repeat myself for those hard of hearing: Trump campaigned on the promises of reduced spending and balancing the budget.
"It can be done. ... It will take place and it will go relatively quickly. ... If you have the right people, like, in the agencies and the various people that do the balancing ... you can cut the numbers by two pennies and three pennies and balance a budget quickly and have a stronger and better country."
The problem is spending.....not tax cuts! If a reduction in taxes increases revenue to the Treasury then it should be obvious that they are NOT the issue!
As far as Trump's record of failed businesses and bankruptcies, his record is actually pretty damn good. Several hundred businesses and only a 5-6 bankruptcies. People that have actually built businesses (I take it you have not) would like that record. By the way, I am in no way a Trump supporter....just the occasional devil's advocate.
A downturn will happen....just take a look at history. If you can determine precisely when perhaps you can make some money!
So if we are running deficits in a hot economy what does it look like when the downturn comes.
Oh no! We’d better cut Social Security and Medicare! For the sake of us all!!!!
Yes, cut it all! We're not a socialistic society right? Scr&w the poor, unhealthy, old elderlies! Let's just plow more money into the military while we're at it!
The GOP will not pay back that interest. The majority of it is to Pay back SS. That's how they will kill off SS. Our money goes into Treasuries. The GOP will claim that they cannot afford to repay that debt and kill SS.
Let me repeat myself for those hard of hearing: Trump campaigned on the promises of reduced spending and balancing the budget.
"It can be done. ... It will take place and it will go relatively quickly. ... If you have the right people, like, in the agencies and the various people that do the balancing ... you can cut the numbers by two pennies and three pennies and balance a budget quickly and have a stronger and better country."
The tax cuts are a form of spending when there's a deficit. I don't know why so many fail to understand this concept.
If tax cuts are granted while the budget is in deficit, all of the red ink must be financed by selling Treasury bonds. This adds to the public debt, burdens all taxpayers, and our kids. The ONLY time "people keep more of their own money" with tax cuts is when the budget has a surplus. Otherwise, when there is a deficit, tax cuts are nothing more than a federal subsidy.
Deficit spending is appropriate and wise during recessions as a way to "prime the pump" and spark a recovery. Under classic Keynesian economics, though, the flip side to that is to cut back spending during booms and run the government either balanced or a small surplus. Trump has done the reverse, engaging in deficit stimulus during a boom, which is reckless and not supported by most economists.
They don't understand the concept because it is incorrect unless you happen to believe that all money earned belongs to the government and we just get to keep what they allow! Tax cuts (when properly performed) stimulate the economy which in turn increases monies to the Treasury. Increased monies to the Treasury would decrease the deficit.....not increase it. Fact is, in our case, the red ink is financed by selling Treasury bonds and a properly executed tax cut would not require the selling of "additional" bonds. Unfortunately, we seem to be good at spending money we don't have!
Now, I do agree that during times of economic boom it is time to rein in spending....something neither party has shown much interest in doing. There will be a price to pay in the future.
Obama spends more than all other presidents combined and the left doesn't care, now that the interest on Obamas debt is having to be paid it's Trumps fault. You know damn well none of you would be complaining about it if Hillary (God help us) was president.
How much would that interest be WITHOUT that additional $10,000,000,000,000 Obama spent?
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