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" The mega donors of the Republican Party, who pull the strings will reap vast savings whether there is growth, huge deficits, soaring public debt or harm to the poor".
2000 lobbies employing 6000 lobbiests had a seat at the table. What this economists gt wrong was labeling.
Lobbiests love the party in power and flip with every election.
No one knows what's inside this bill. There will be intentional and unintentional outcomes, good, bad and ugly.
Today we have a $17 trillion GDP and owe $19 trillion.
The CBO says that in 10 years we will have a $25 trillion GDP* and owe $20.5 trillion.
* Based on 3% annual growth.
Do you have a link? After Clinton they said the debt will be paid off soon, but that estimate was based on the economic trend of that time, which soon changed under Bush presidency.
Today we have a $17 trillion GDP and owe $19 trillion.
The CBO says that in 10 years we will have a $25 trillion GDP* and owe $20.5 trillion.
* Based on 3% annual growth.
We pay debt with cash, not percentages. If there is enough cash to pay the interest and entitlements and defense then nobody really cares about the ratio.
2010
By the end of next month, the federal government will have awarded nearly all of its stimulus funds - $862 billion -to local governments around the country.
But as CBS News Congressional Correspondent Nancy Cordes reports, it's in those states and cities that the money is running into roadblocks.
"Some cities are still trying to figure out what to do with the money. Others are struggling to navigate the bidding and permit process. "
"That's why, 18 months after the president signed the stimulus bill into law, the U.S. Department of Energy has pledged $30.2 billion worth of stimulus grants and contracts - but only paid out $6.2 billion."
We pay debt with cash, not percentages. If there is enough cash to pay the interest and entitlements and defense then nobody really cares about the ratio.
Most people care about the ratio of GDP to debt, just as you care about your personal income/debt ratio.
In 2016, the US government received about $3.3 trillion in revenue from a $17 trillion GDP. They spent $3.9 trillion, so there was a $600 billion budget deficit.
If GDP increases, it usually follows that tax revenue will follow. What Trump is doing is decreasing taxes in hopes that economic growth will far exceed expectations, thereby increasing revenue.
"Draining the swamp" means spending less with fewer government regulations. Maybe he can decrease the amount the government spends - something less than 3.9 trillion.
For 2018, $4 trillion is budgeted and $3.6 trillion in income is expected.
Servicing the debt takes about $270 billion, which is a lot when you only take home $3.6 trillion. Follow the link a see the disastrous road America is on if action is not taken now. But Trump knows all this. He's trying to avoid the disaster coming by 2025 when debt service becomes 12% of budget.
Anybody arguing that the federal effort to get the economy up and running again was wasted is full of it.
But now it is up and running, so why the hell are we going into debt?
They never can explain why they feel the stimulus was an "epic flop". They just drop that claim and vanish from the discussion. I guess we should be accustomed to that tactic from the right by now. They can't back up any of their claims with facts so that's what they resort to.
No it didn’t. Housing starts were the worse in decades. That is usually an indicator of how the economy is doing. And it intensely sucked.
If you weren't in housing or related, things were OK. Had a booming time in the stock market in 2009, we made well into 6 figures just churning our accounts personally.
You can thank George (Cocaine) Bush for that 2007 disater.
Failed cash for clunckers? The car dealers were selling newer cars and making more money, never mind being short on inventory. And it got a bunch of crap cars off the roads.
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