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The federal budget deficit hit $598 billion in the first half of the 2018 fiscal year, according to the Congressional Budget Office, quickly outpacing the deficits of recent years.
At the same point in 2017, the deficit was $78 billion lower. That year, the entire deficit amounted to $666 billion, just 11% higher than the amount the U.S. government had to borrow in the first half of 2018.
Oh no!! Wait til the right-wing get wind of this news!!! They were so steadfastly against any deficit under Obama, even calling it the greatest threat to our nation!!!
They will be so pissed when they found out the deficit got this ugly under Trump!!!
Trump didn't keep his word. Again. I hope he doesn't get elected for that reason. Just like the last guy and the one before him because they didn't keep their word either.
Keeping your word doesn't mean much to supporters of either party. But go team.
Just like the last guy and the one before him because they didn't keep their word either.
Keeping your word doesn't mean much to supporters of either party. But go team.
Yet people keep putting these people in office over and over again.
Senator Susan Collins from Maine has a history of opposing rises in the national debt. The nine years of continuous growth is unusually long as economic cycles go, but Republicans are adamant about growth cancelling out any debt that the tax cut would do.
Here is a video of Susan Collins from Maine. She was one of the last hold outs. Lord knows what the Republicans said to her to change her mind almost overnight: https://www.youtube.com/watch?v=RMFoOVZE2BA
Just wait until the record low interest rates and social spending that are both set to rise start rising.
When interest rates go back to the norms of the GW Bush years that will add another ~$800 Billion in interest payments alone on that $21 Trillion and climbing number. Or we will live in a low interest rate environment for the long-term.
The QE under Obama masked a sever fiscal problem by shrinking our interest payments.
Meanwhile promised increases to overall social spending have been known about for decades and neither party has taken that seriously.
All of these things were set to spike the national debt in the future without Trump doing a thing. Add in Trump's actions and we could have a mega-mess.
Quote:
Originally Posted by GotHereQuickAsICould
This is what Republicans do.
The last Republican Pin resident to leave the nation in better economic shape then he found it was Eisenhower.
If we are being honest, Eisenhower was the last president of any party to have a single Fiscal Year where the total national debt decreased.
The last president of any party to have less debt on his last day than his first day was Calvin Coolidge in the 1920s.
Quote:
Originally Posted by Loveshiscountry
That's the definition of insanity. Doing the same thing over and over again while expecting different results.
Yes. Both parties are at fault here. We keep electing people who promise more military spending and less taxes for all. Or we elect people who promise more social spending with less taxes for the middle and lower income groups.
I actually supported Kasich in the primary, because I thought that he would be best on working out solutions as he was head of the budget office in the 90s when we nearly had balanced budgets and then balanced Ohio's budget as governor.
Deficit doesn't matter.
He could simply declare that the country is bankrupt, just like his business declared bankruptcies. Nice and easy
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