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Presidents aren't responsible for budgets. That responsibility belongs to the House, who decide how much to spend and on what and what level taxation should be.
Presidents still propose budgets (his weren't balanced) and presidents still sign expenses into law and Trump signed these into law.
I am not saying 100% of the blame is on Trump, but he is certainly part of this failure.
Speaking of presidential proposed budgets, Bill Clinton proposed 8 budgets for 8 different years while in office. All of his proposed budgets ran deficits.
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Originally Posted by Woody01
It's Greywar, he has no facts that work for him.....billions/trillions, doesn't matter......
Yep.
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Originally Posted by Finn_Jarber
No, I gave definitions to both terms: socialism and corporate socialism. Nothing dishonest about it, because now we (even you) know the difference.
He didn't use the other term. He incorrectly used the term socialism. That is a fact.
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Originally Posted by Finn_Jarber
It is not necessarily a lie, because you are talking about different things. There is a difference between Deficit, and Debt Added. Clinton did have budget surplus, even thought the debt still ticked up, but not by much. At best it was down to $18B. Both Deficits and Debt started going up as soon as Buch policies kicked in, and it ended in economic collapse.
It is a lie.
Greywar for example said "475 billion per year in added debt" when referring to Obama's final year. He didn't say budget deficit there. He said "added debt." The debt in fact went up $1.42 Trillion in Obama's final year.
Greywar, has been over this before and knows he is distorting reality even if he was using the trick terms as you claimed, but wasn't.
As "Candidate" Obama stated, by having off-budget expenses it is deceitful and hides the true deficit and the true climbing of the debt. If you are purposely hiding something it is the same as lying. That is why Obama promised not to do this (but then did it more than Bush).
This is why people hate politicians. Always spinning and hiding the whole story.
Greywar was spinning and hiding the whole story.
Greywar isn't honest about a solution or reality on this topic. He is interested in half-truths and deceit to pin it on one party and save face for his preferred party.
Mostly under GOP governance, but people still seem to believe that they are frugal. Frugal with top hose that need help and American Fascism if you are rich, greedy and over extended yourself.
Thanks for babbling about a subject for which you have no competence.
The difference is does da gubermnet "debt" increase due to spending or due to tax cuts. That's the difference. One prints money to fiance the private markets and the other for da guberment. Thus the concept of frugality in da guberment spending is the difference.
The problem with the Obama era is da guberment handed money over to the FIRE sector which is really nothing but a branch of the 1st. and 2nd estates. Its like Zeus giving money to other Olympians . None of that fell to the goods and service economy from Attica to the Peloponnesian peninsula.
He didn't use the other term. He incorrectly used the term socialism. That is a fact.
I don't care if you were triggered by something some other poster. I posted definitions for both socialism, and corporate socialism, and also explained the "Danish model".
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Greywar for example said "475 billion per year in added debt" when referring to Obama's final year. He didn't say budget deficit there. He said "added debt." The debt in fact went up $1.42 Trillion in Obama's final year.
Again, don't cry to me what some other poster said. I explained there is a difference between "budget deficit" and "debt added". Clinton had a budget deficit, even though debt still went up (but very little).
Why are you so keen on telling me what some other poster said to you? I don't care.
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Greywar, has been over this before and knows he is distorting reality even if he was using the trick terms as you claimed, but wasn't.
I don't care.
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Greywar was spinning and hiding the whole story.
I don't care.
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Greywar isn't honest about a solution or reality on this topic. He is interested in half-truths and deceit to pin it on one party and save face for his preferred party.
Nobody cares about the debt because the gov't has been crying wolf for so long, Americans have become desensitized to it.
In most Americans minds, the Wolf is a storybook figure...not real.
When interest on the debt exceeds national defense, and prevents social security payment from being made, Americans will wake up...2024.
Or, if there's runaway deflation, or inflation....currency distortion, like in Venezuela. This will be triggered by loss of global confidence in the Dollar.
I've taken proper precautions, so I sleep a little better at night than most. Have you? Paper money will be useless, and debt will lead to loss of hard assets.
Nobody cares about the debt because the gov't has been crying wolf for so long, Americans have become desensitized to it.
In most Americans minds, the Wolf is a storybook figure...not real.
When interest on the debt exceeds national defense, and prevents social security payment from being made, Americans will wake up...2024.
What will cause the interest.?
If there is a higher rate then da guberment will print more money to pay it. So it will just be inflationary. It will be paid.
However if da guberment decides to raise taxes , guess what will happen to interest rates? Taxes to the Treasury destroy the public money supply.
Why do you people think we are on a metal system? Its soft money .
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Or, if there's runaway deflation, or inflation....currency distortion, like in Venezuela. This will be triggered by loss of global confidence in the Dollar.
I've taken proper precautions, so I sleep a little better at night than most. Have you? Paper money will be useless, and debt will lead to loss of hard assets.
Loss of global confidence in the dollar will reflect a loss of global confidence in the US .
How can people claim da guberment owes money and then claim it prints money at the same time?
The main thing the support the currency is the value beneath it. That means political stability , property rights and industry.
Name one inflationary spiral that was created by the central bank? Everyone of them was cause by political dissolution and/or capital destruction. If you print money to bail out Antifa, well then that might cause a dollar collapse.
They don't call the United States "Weimerica" for nothing...
If the US dollar didn't have the reserve currency status, we'd be no different from Zimbabwe or Venezuela...
That's exactly where we're headed.... We're supposed to be a 'superpower' yet we have the finances of a poor, dysfunctional Banana Republic.
The fact that we've been able to pile on this much debt with 'seemingly' no consequence had lulled everyone into a deep and extremely foolish complacency. Of course, the debt "isn't a problem"- until it becomes a devastating crisis. And at that point, it's far too late to do anything about it.
It's like jumping off the Empire State Building, and claiming "it's not a problem" because you haven't hit the pavement yet. Well, once you've made the jump, hitting the pavement is a foregone conclusion- it's a matter of when, not if.
Or it's like a guy who has been smoking for decades with "no consequences"- then he wakes up one day in a hospital bed with terminal lung cancer. It's far too late for him to quit smoking now.
It can be $27 Gazillion. So what?
Are they going to have a debt collector call the U.S., govt? lol
IMO, nobody is paying it off, so what’s the worry? After all, we are the biggest super power and most advanced nuclear armed force. Who is going to dare?
when people lose faith in USD/UST, we'll be the ones with the most to lose.
Presidents still propose budgets (his weren't balanced) and presidents still sign expenses into law and Trump signed these into law.
The House is under no obligation to accept a budget proposal from the OMB.
The House is perfectly capable of crafting budgets, they'd just rather pass the buck and shirk their responsibilities.
Also, the OMB only presents mandatory obligations required by law. Congress says the Social Security Administration is a mandatory obligation, so OMB provides a budget for its annual operations, which includes staffing, office space, equipment and supplies, but not the actual Social Security program.
It's actually the cost of unmandated programs that are the killer.
That's exactly where we're headed.... We're supposed to be a 'superpower' yet we have the finances of a poor, dysfunctional Banana Republic.
No we don't . We have the finances of a reserve currency. We have to run deficits Now it would become a problem if it were to unravel because a lot of it would be repatriated. However its not like its because people are just stupid.
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The fact that we've been able to pile on this much debt with 'seemingly' no consequence had lulled everyone into a deep and extremely foolish complacency. Of course, the debt "isn't a problem"- until it becomes a devastating crisis. And at that point, it's far too late to do anything about it.
It's like jumping off the Empire State Building, and claiming "it's not a problem" because you haven't hit the pavement yet. Well, once you've made the jump, hitting the pavement is a foregone conclusion- it's a matter of when, not if.
Or it's like a guy who has been smoking for decades with "no consequences"- then he wakes up one day in a hospital bed with terminal lung cancer. It's far too late for him to quit smoking now.
Will he have time to read an economics book in the hospital for once?
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