U.S. Budget Deficit Passes $1 Trillion Mark for Fiscal 2019 (unemployment, Reagan, statistics)

[workingclasshero]

Originally Posted by craigiri

Sure they were....did the Deficit go up or down?

FY deficits went down at the beginning of trump...his current fy deficit is still lower than Obama's fy16 deficit

5 out of 8 years with trillion dollars deficits including his (Obama) LAST WHOLE 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


10/01/2016................................. 19,573,444,713,936.79
09/30/2017.................................20,244,900,01 6,053.51
671,455,302,117.............................. 671 billion deficit fy17 (passed under Obama, and during trumps first year)


10/01/2017................................. 20,244,900,016,053.51
09/30/2018.................................21,516,058,18 3,180.23
1,271,158,167,127.............................. 1.27 trillion deficit fy18 (trumps first FY, no changes to previous year, no tax cut yet, status quo of Obama spending))

10/01/2018................................. 21,516,058,183,180.23
09/14/2019.................................22,557,781,10 1,458.39
1,271,158,167,127.............................. 1.04 trillion deficit fy19 (the fy has 16 days left)(includes the tax cut)


so trumps average FY deficit is so far lower than Obama's.....will he out pace Obama, or be lower at the end of 4 or 8 years.....who knows

[workingclasshero]

Originally Posted by craigiri

NO NO NO NO.......

Obviously collections go up with population and inflation......

Repeat after me: "Collected revenues in relation to Spent Revenues are DOWN"...and you will then be telling the truth.

Either that or you are saying that the CBO and every other economic chart is lying....showing the percentage of our GDP vs. Deficit going up and up and up....

Which is it?

collect revenues are NOT down..but spending is UP

[BeerGeek40]

Originally Posted by Goodnight

I don't hear this getting much debate in the democratic debates or the president and his economic staff but we are truly on course for record deficits. We need to increase revenue and reduce spending.





https://www.nytimes.com/reuters/2019...sultPosition=1


CBO report indicates a $2T deficit by 2028


https://www.crfb.org/papers/analysis...EaAql4EALw_wcB


Tax revenue by year:


FY 2020 - $3.64 trillion, budgeted.
FY 2019 - $3.44 trillion, estimated.
FY 2018 - $3.33 trillion.
FY 2017 - $3.32 trillion.
FY 2016 - $3.27 trillion.
FY 2015 - $3.25 trillion.
FY 2012 - $2.45 trillion.
FY 2011 - $2.30 trillion.
FY 2010 - $2.16 trillion.
FY 2009 - $2.10 trillion.
FY 2008 - $2.52 trillion.
FY 2007 - $2.57 trillion.
FY 2006 - $2.4 trillion.
FY 2005 - $2.15 trillion.
FY 2004 - $1.88 trillion.
FY 2002 - $1.85 trillion.
FY 2001 - $1.99 trillion.
FY 2000 - $2.03 trillion.
FY 1999 - $1.82 trillion.
https://www.thebalance.com/current-u...evenue-3305762

We don't have a revenue problem, we have a spending problem. And the democrats want free college and medicare for all. It's only a matter of time before the entire system implodes.

[workingclasshero]

Originally Posted by craigiri

NO NO NO NO.......

Obviously collections go up with population and inflation......

Repeat after me: "Collected revenues in relation to Spent Revenues are DOWN"...and you will then be telling the truth.

Either that or you are saying that the CBO and every other economic chart is lying....showing the percentage of our GDP vs. Deficit going up and up and up....

Which is it?

I love the way posters like to spin things back and forth

you use "%of gdp" for what you want but dismiss it on other things


for example..defense spending...you guys WILL NOT use % of gdp… you just say we spend more than 8 other countries...yet when you use % of GDP we are right in line with nearly every country of the world at 2-5% of gdp


as to government revenue -vs- spending
revenue has gone up...and spending has gone up even faster

we dont have a revenue problem...we have a spending problem ...our government needs to learn the old saying..."spend(live) within your means"

why are democrats so against a balanced budget.....???

[PedroMartinez]

Originally Posted by workingclasshero

I love the way posters like to spin things back and forth

you use "%of gdp" for what you want but dismiss it on other things


for example..defense spending...you guys WILL NOT use % of gdp… you just say we spend more than 8 other countries...yet when you use % of GDP we are right in line with nearly every country of the world at 2-5% of gdp


as to government revenue -vs- spending
revenue has gone up...and spending has gone up even faster

we dont have a revenue problem...we have a spending problem ...our government needs to learn the old saying..."spend(live) within your means"

why are democrats so against a balanced budget.....???

The DNC must buy votes. You can't do that without spending.

Sure, they say "free" college, but taxes will actually PAY for that "free" college.

[workingclasshero]

Originally Posted by BeerGeek40

We don't have a revenue problem, we have a spending problem. And the democrats want free college and medicare for all. It's only a matter of time before the entire system implodes.

big time

y FY2026 (6 years from now, as fy20 starts in 16 days) medicare/Medicaid budget are projected to be hitting nearly 2 trillion between the both....that is more than half of the revenue we take in.....and no one person in DC is trying to fix that....the dems are looking to INCREASE that spending by triple/quadruple

so let's look at it from a $ stand point

M4A will cost 4 trillion ANNUALLY (at the minimum...even according to the bern) additional to what we already pay for medicare/medicaid
actual singlepayer will cost 6.5 trillion annually

our current level of revenue is about 3.5-3.75 trillion, and our budget is around 4.6 trillion (a trillion dollar deficit)

so just where is the government going to find 4 to 6.5 (plus another 1 trillion because of our current over spending)….. you could "tax the rich" at 100% and still wont come up with that amount....so for example E. Warren is a LIAR as her plans would HAVE to tax the crap out of the middleclass and lower fiscal classes

that's just health care

then you have the universal income:
1000/month (12000/year) to the 260,000,000 people over 18 will cost 3.12 trillion dollars

taxing/fee the top 20 S&P at 10% will only collect 900 billion.... he falls about 2.3 trillion short annually

then we can get into "free college/student loan dismissal"....that is a 1.9 trillion the first year (dismissal) and nearly a trillion each year after (free college)


that's 12 trillion of annual spending the DNC's candidates are pushing



12 trillion in NEW ANNUAL spending...meanwhile revenue sits at about 3.6 trillion with a current budget at 4.5 trillion


that my friend is a severe spending problem

[craigiri]

Originally Posted by workingclasshero

I love the way posters like to spin things back and forth

you use "%of gdp" for what you want but dismiss it on other things


for example..defense spending...you guys WILL NOT use % of gdp… you just say we spend more than 8 other countries...yet when you use % of GDP we are right in line with nearly every country of the world at 2-5% of gdp


as to government revenue -vs- spending
revenue has gone up...and spending has gone up even faster

we dont have a revenue problem...we have a spending problem ...our government needs to learn the old saying..."spend(live) within your means"

why are democrats so against a balanced budget.....???

You have no idea who you may be talking to - for I was for Nader and cutting 50% off the Security State (to start).

I also know exactly where the debt and deficit come from:

1. Free Tax cuts from debt and deficit
2. Failure to Address Health Care
3. The Security State

That's it. Everything else is a rounding error. Trump has done all three in spades, which is bad enough - but REPUBLICANS as a whole had told us it was their singular issue - for almost a decade. Yet now they cheer the completely opposite of that (tax cuts from deficit).

Saying "we have to cut spending" is like me robbing a bank and telling them "well, you just have to go get more money". The giving of free money without any offset in savings....money that was not needed in any way, was foolish and irresponsible.

[PedroMartinez]

"1. Free Tax cuts from debt and deficit"

Only spending cause debt and deficits.

[Hesychios]

Originally Posted by ditchoc

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

Good post.

You are right. Trump was BS-ing himself throughout the campaign, making a lot of promises and a lot of traditional Republicans took him at his word, held their noses and voted for him. What else could they do? They believed in the party and hoped for the best.

The man has instead revealed how utterly incompetent and dangerous he really is.

[Goodnight]

Originally Posted by PedroMartinez

"1. Free Tax cuts from debt and deficit"

Only spending cause debt and deficits.

The Bush tax cuts in 2003 that were extended under both Bush and Obama and the 2017 Trump tax cut never added to the deficits, only spending?? That doesn't make any sense at all.