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Meanwhile, the data and viewpoints of the pros at Moody's suggest that the tax cuts are a short-term boost but a long-term fiscal drag on the nation. While conservatives like to talk about big debt under Obama, the reality is that they are shaping up to own far greater damage to the nation's balance sheet.
Quote:
Tax cuts and a slowing economy will erode America’s fiscal strength during the next decade, according to a new report from Moody’s Investor Service, the bond-rating agency. At some point, Moody’s might cut the nation’s top-tier credit rating.
When the economy’s strong, as it is now, the government’s debt burden normally declines rather than spiking. That’s because businesses and individuals earn more money and therefore pay more taxes. But the Trump tax cuts have weakened revenue intake, pushing deficits up.
“The United States’ fiscal strength is set to gradually decline from 2019 onward,” Moody’s Analysts wrote in the report. “A persistent widening of fiscal deficits will push the federal debt and interest burdens to historic levels, which will ultimately weigh on the sovereign credit profile.”
Actually it comes from Moody's who had a hand in being responsible for the sub-prime crisis, so yeah, I'd take it with a grain of salt. That has nothing to do with your snarky intro. Heck, if they are telling us now, its probably 12 months too late. Their history and track record should have put them out of business.
I was listening to a wrestling podcast and one of the men on it (the owner of the website) was asked about entering the stock market right now and he said it isn't the time due to the market correction and the fact that we will likely see it get much worse due to the tariffs and prices increasing while wages aren't. Let me say, the market correction was talked about for about four years now, so we shouldn't seem so surprised about one happening, especially given economic uncertainty in light of isolationist economic policy.
How are record government revenues and record low unemployment associated with the tax cuts putting us on a "worse fiscal path"?
The thing putting us on a bad fiscal path is out of control SPENDING, not a lack of revenue.
Since they didn't cut spending last year the tax cuts only increased the deficit, now all they have to do is find $1T in tax cuts just to get the deficit back where it was in 2016.
Since they didn't cut spending last year the tax cuts only increased the deficit, now all they have to do is find $1T in tax cuts just to get the deficit back where it was in 2016.
I was listening to a wrestling podcast and one of the men on it (the owner of the website) was asked about entering the stock market right now and he said it isn't the time due to the market correction and the fact that we will likely see it get much worse due to the tariffs and prices increasing while wages aren't. Let me say, the market correction was talked about for about four years now, so we shouldn't seem so surprised about one happening, especially given economic uncertainty in light of isolationist economic policy.
Was it Wade Keller or Conrad? LOL These are better than people think they are.. And probably better than most of wrestling is now too...
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