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Old 09-13-2019, 04:54 PM
 
Location: Long Island
56,993 posts, read 25,952,358 times
Reputation: 15496

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Quote:
Originally Posted by workingclasshero View Post
the FY ends in 17 days

the deficit at 1 trillion is still lower than the average of Obama's 8 years

6 out of 8 years with trillion dollars deficits including his (Obama) LAST YEAR

10/01/2009................................ 11,920,519,164,319.42
09/30/2010................................ 13,561,623,030,891.79
difference of 1,641,103,866,572............................1.6 trillion deficit fy10

10/01/2010.................................13,610,847,58 5,810.09
09/30/2011.................................14,790,340,32 8,557.15
1,179,492,742,747...........................1.17tr illion deficit fy11

09/30/2011................................ 14,790,340,328,557.15
09/28/2012................................ 16,066,241,407,385.89
1,275,901,078,828..........................1.27 trillion deficit fy12

10/01/2012.................................16,159,487,01 3,300.35
09/30/2013.................................16,738,183,52 6,697.32
578,696,513,397..............................578 billion deficit fy13......the only one of two full years under one trillion

10/01/2013................................. 16,747,478,675,335.18
09/30/2014................................. 17,824,071,380,733.82
1,076,592,705,398..............................1.0 7 trillion deficit fy14


10/01/2014................................. 17,824,071,380,733.82
09/30/2015................................. 18,150,617,666,484.33
326,546,285,750.51..............................32 6 billion deficit fy15...the second less than trillion



10/01/2015................................. 18,150,617,666,484.33
09/30/2016.................................19,573,444,71 3,936.79
1,422,827,047,452.46.............................. 1.42 trillion deficit fy16


======================
and 2 t by 2028...do you know why..... medicare/Medicaid

in 2016 medicare was 691 billion

what is even more interesting is what the predicted outlays will be in the future
in 2016 medicare was 691 billion
prediction for 2020....963 billion
prediction for 2026....1.383 Trillion



lets now add in Medicaid
Medicaid:
2000.....117 billion
2008.....201 billion
2016.....368 billion

actual Medicaid 2016.....368 billion
prediction for 2020....450 billion
prediction for 2026....616 Billion


so the prediction is medicare and Medicaid is expected to be over 2 trillion dollars is less than 8 years
that's just the GOVERNMENT costs of Medicare and Medicaid... and medicare/Medicaid covers less than 1/6 of our population..




the Democratic candidates; nearly everyone of them is talking about increasing spending by multiple trillions per year
universal income will cost 3+ trillion yearly
M4A will cost 4+ trillion yearly
student loan forgiveness/free tuition will cost 2 trillion the first year and 3/4 trillion yearly after that
free daycare....will cost 1.2trillion+ yeaarly

our problem...no matter who is in charge...is spending.....WashingtonDC you have a spending problem
How many times are you going to trot out the same nonsense, it’s both spending and revenue. We increased spending every year but we also had 4 tax cuts in the past 20 years. Let’s hear your spending cut details, Defense, Social Security, Medicaid? Because without significant cuts to those programs your cuts you’re balanced budget is fantasy. Meanwhile Trump is pondering another tax cut.
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Old 09-14-2019, 05:13 AM
 
8,341 posts, read 4,319,512 times
Reputation: 11794
Default Trumps Deficit

Obama inherited a 1.4 trillion dollar deficit from Bush. By the time Obama left office, he had managed to reduce the deficit by almost 2/3rds to around 500 billion.


Trumps steps up the plate promises several times:


In February 2016 Trump said he could start paying off the national debt "so easily."


In March 2016, Trump said he could cut trillions of dollars in spending by eliminating “waste, fraud, and abuse.”


In April 2016, Trump said that he was confident that he could “get rid of” the entire multi-trillion-dollar debt “fairly quickly.”


July 2016 Trump said “we’ll start paying off that debt like water.”


Now the national debt is back over 1 Trillion and still climbing.


“Since 1992, there have been 11 months in which the deficit topped $200 billion. Seven of those have happened under Trump.” The Washington Post
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Old 09-14-2019, 05:27 AM
 
51,604 posts, read 25,617,156 times
Reputation: 37792
I thought this was the greatest economy ever in the history of the universe.

So why is the annual deficit more than doubled to over a trillion?
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Old 09-14-2019, 05:28 AM
 
51,604 posts, read 25,617,156 times
Reputation: 37792
And why aren't Republicans on fire about this?
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Old 09-14-2019, 05:42 AM
 
Location: NJ
23,403 posts, read 17,081,478 times
Reputation: 17440
the economy is on fire and a perfect time to rehab the nation Obama left in tatters after doing his best to suffocate it.


A thousand dollar credit card bill when you are not working is catastrophic. a thousand dollars owed when you have a well paying job is not catastrophic.


Too bad the democrats try to block every effort by Trump to help the economy and re negotiate new trade deals.


Dems have intentionally sabotaged trump's efforts when at the negotiating table with foreign leaders


Based on the intensity of the media and democrat attacks potential trading partners are waiting for the 20 20 election to make their move. If Trump had been backed, the deals would have been done.


Meanwhile the economy is booming, UE record lows, E record high, technically at full employment, consumer confidence high and wages increasing.


Democrat buy in to the budget has raised the deficit even more. No budget unless dems had their way with taxpayer cash.


If this were Obama, the media would be saying, 'ah yes, but think how much more it would have been, if not for obama'.
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Old 09-14-2019, 05:51 AM
 
Location: Los Angeles
4,625 posts, read 3,369,230 times
Reputation: 6147
Quote:
Originally Posted by Kracer View Post
the economy is on fire and a perfect time to rehab the nation Obama left in tatters after doing his best to suffocate it.


A thousand dollar credit card bill when you are not working is catastrophic. a thousand dollars owed when you have a well paying job is not catastrophic.


Too bad the democrats try to block every effort by Trump to help the economy and re negotiate new trade deals.


Dems have intentionally sabotaged trump's efforts when at the negotiating table with foreign leaders


Based on the intensity of the media and democrat attacks potential trading partners are waiting for the 20 20 election to make their move. If Trump had been backed, the deals would have been done.


Meanwhile the economy is booming, UE record lows, E record high, technically at full employment, consumer confidence high and wages increasing.

.
“The time to repair the roof is when the sun is shining.” - JFK

If you have a leaky roof, you don't wait for a big bad storm cloud to hover above your home so that you can try and patch things up in the pouring rain.
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Old 09-14-2019, 05:54 AM
 
Location: Ft. Myers
19,719 posts, read 16,751,882 times
Reputation: 41862
Quote:
Originally Posted by ditchoc View Post
Obama inherited a 1.4 trillion dollar deficit from Bush. By the time Obama left office, he had managed to reduce the deficit by almost 2/3rds to around 500 billion.


Trumps steps up the plate promises several times:


In February 2016 Trump said he could start paying off the national debt "so easily."


In March 2016, Trump said he could cut trillions of dollars in spending by eliminating “waste, fraud, and abuse.”


In April 2016, Trump said that he was confident that he could “get rid of” the entire multi-trillion-dollar debt “fairly quickly.”


July 2016 Trump said “we’ll start paying off that debt like water.”


Now the national debt is back over 1 Trillion and still climbing.


“Since 1992, there have been 11 months in which the deficit topped $200 billion. Seven of those have happened under Trump.” The Washington Post
Yep, he's a real peach, isn't he. Obama handed him a great economy and not much debt. Two years later, both are heading into the toilet.

So much for "Well, he is rich, so he must be smart" mentality.
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Old 09-14-2019, 05:55 AM
 
8,341 posts, read 4,319,512 times
Reputation: 11794
I guess you could say "If Trump set my head on fire at least my arse ain't burning."
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Old 09-14-2019, 06:01 AM
 
Location: Texas
38,859 posts, read 25,432,455 times
Reputation: 24780
When the economy is on the upswing is the time to reduce the deficit/debt.

What's happening now is simply emptying out the cupboards in a desperate attempt to delay the coming tRump/GOP recession.

And when it hits, that deficit will make it all the harder for the govt to react effectively.

This is nothing new:

After leaving the presidency, Democrat Lyndon B. Johnson alleged "Republicans [...] simply don't know how to manage the economy. They're so busy operating the trickle-down theory, giving the richest corporations the biggest break, that the whole thing goes to hell in a handbasket."

https://en.wikipedia.org/wiki/Trickle-down_economics

I fear we have another hard lesson to learn about the dangers of "tax cuts/trickle-down/deregulation" that's become Republican orthodoxy. It's failed spectacularly each time. There's no indication that tRump's version will be the exception.

Voodoo economics.

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Old 09-14-2019, 06:02 AM
 
Location: Texas
37,937 posts, read 17,778,661 times
Reputation: 10366
Quote:
Originally Posted by ditchoc View Post
Obama inherited a 1.4 trillion dollar deficit from Bush. By the time Obama left office, he had managed to reduce the deficit by almost 2/3rds to around 500 billion.


Trumps steps up the plate promises several times:


In February 2016 Trump said he could start paying off the national debt "so easily."


In March 2016, Trump said he could cut trillions of dollars in spending by eliminating “waste, fraud, and abuse.”


In April 2016, Trump said that he was confident that he could “get rid of” the entire multi-trillion-dollar debt “fairly quickly.”


July 2016 Trump said “we’ll start paying off that debt like water.”


Now the national debt is back over 1 Trillion and still climbing.


“Since 1992, there have been 11 months in which the deficit topped $200 billion. Seven of those have happened under Trump.” The Washington Post
debt and deficit are 2 different things.

The debt grew under Obama, the debt grew under Bush, the debt grew under Clinton, the debt grew under fill in the blank

It's a spending problem.
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