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The U.S. recorded a $215 billion budget deficit in February -- its biggest in six years -- as revenue declined.
Fiscal income dropped to $156 billion, down 9 percent from a year earlier, while spending rose 2 percent to $371 billion, the Treasury Department said on Monday. The deficit for the fiscal year that began in October widened to $391 billion, compared with a $351 billion shortfall the same period a year earlier, according to the Treasury report.
Please link where you started a thread about Obama's massive budget deficits from the past 8 years to gain a little credibility among your fellow posters.
Why does it matter? The reality is other GOP presidents have been WORSE. And, Obama was stuck with cleaning up the GOP DISASTER.
See above - or is it too much trouble to read and discern actual fact?
Saint Obama stuck with cleaning? by raising spending and doubling the national debt!
plus he raised the healthcare premiums and healthcare costs to the middle class by over 65%......yeah I'm sure the Democrat way is better. That's why the Democrat party is the minority party at the federal level and the governorships and state legislations in the nation since 2010 because they do it so well.
Trump was very clear that there would be short term losses in tax revenue as corporations moved back to, expanded & built their infrastructure in the United States. He believes the added revenue from more business will offset any losses from what they collect from the middle and working classes. It's his butt if he's wrong, but that won't be known until the corporate revenue ramps up.
The U.S. recorded a $215 billion budget deficit in February -- its biggest in six years -- as revenue declined.
Fiscal income dropped to $156 billion, down 9 percent from a year earlier, while spending rose 2 percent to $371 billion, the Treasury Department said on Monday. The deficit for the fiscal year that began in October widened to $391 billion, compared with a $351 billion shortfall the same period a year earlier, according to the Treasury report.
so you take 1 month out of 12 months to cherry pick to push an agenda? LMAO!
Trump's tax cuts just barely took effect and the revenues should come in later with more jobs......but of course what can you expect from liberal democrats that think higher taxes is better to move the economy....they rather have the government take in more money than Americans keep more of their money.
Saint Obama stuck with cleaning? by raising spending and doubling the national debt!
You said that, already. So, since you can't dispute the ACTUAL NUMBERS AND CIRCUMSTANCES, you go on replay??? So, you're saying there was no recession???? Gee, you must have lived on another planet.
Quote:
Originally Posted by Hellion1999
plus he raised the healthcare premiums and healthcare costs to the middle class by over 65%......yeah I'm sure the Democrat way is better. That's why the Democrat party is the minority party at the federal level and the governorships and state legislations in the nation since 2010 because they do it so well.
That's all about to change - or have you been sleeping the past fourteen hideous months?
And, it is ZERO to do with the current red ink/DEFICIT brought on by the CURRENT tax legislation.
But, since you can't face that fact, instead you change the subject and move the goalposts by talking about something that happened six years ago?
Why does it matter? The reality is other GOP presidents have been WORSE. And, Obama was stuck with cleaning up the GOP DISASTER.
See above - or is it too much trouble to read and discern actual fact?
I will say that you make some excellent points in your post. Often in these debates, the devil's in the details.
OTOH from your own post: "Republicans use a sound bite that the federal debt doubled under Obama. In looking at the numbers that is close to being numerically correct but falls short of being 100%."
Doubling of the debt in only 8 years just can't be excused away. I do not excuse W. Bush for the federal spending binge that took place 2000-2006, nor should you excuse Pres. Obama. Obama should have found ways to tighten the federal belt after the crash, but instead he binged. We knew that receipts were going down due to the crash. Outlays should have been pared back too, but instead went in the other direction.
Keynesian theory says that during a time of economic growth, you practice austerity, we should be either increasing taxes OR cutting spending while things are good.
You deficit spend to get out of a recession
What we are doing is idiotic.
The government, and ourselves, should save when times are good, so we have something to fall back on when times are bad.
I will say that you make some excellent points in your post. Often in these debates, the devil's in the details.
OTOH from your own post: "Republicans use a sound bite that the federal debt doubled under Obama. In looking at the numbers that is close to being numerically correct but falls short of being 100%."
Doubling of the debt in only 8 years just can't be excused away. I do not excuse W. Bush for the federal spending binge that took place 2000-2006, nor should you excuse Pres. Obama. Obama should have found ways to tighten the federal belt after the crash, but instead he binged. We knew that receipts were going down due to the crash. Outlays should have been pared back too, but instead went in the other direction.
Cutting back would have made the Great Recession even more horrible than it was and is the EXACT OPPOSITE of what should be done during a downturn.
The way out of a recession is to spend to stimulate the economy.
NOT spending now - which will only cause inflation - rising rates - and lead to recession.
We're on that path already, sadly.
Step by step, Trump is destroying what would have been a great economy - unnecessary stimulus and now tariffs.
I've made a lot of money in the stock market the last few years, and I'm pretty damned ticked that every gd thing the GOP has done since Trump has taken office is leading to a market crash.
So, since you can't dispute the ACTUAL NUMBERS AND CIRCUMSTANCES, you instead resort to dog whistles??? So, you're saying there was no recession???? Gee, you must have lived on another planet.
FACT: Recession started December 2007 and it ended in June 2009 (5 months after Obama took office) and most of the relieve to calm things down was passed by the Economic Stimulus Act of 2008 signed by W Bush, 11 months BEFORE Obama took office.......you want to try again?
once again, let's look at Obama's record AFTER the recession ended in June 2009: (he had 7 1/2 years) after the recession ended:
1) Double the National debt
2) Grew the government
3) raised health care premiums and healthcare costs to the Middle Class under Obamacare
4) Never did a damn thing about NAFTA and the bad trade deals with China when he said in 2007/2008 as candidate Obama he would and once in office wanted to expand more bad trade deals with TPP.
Did I miss anything else?
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