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Obama's Budget The Highest Spending Since The Stimulus - Deficit Climbs to 666 Billion


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2017 Oct 21, 1:14pm   3,182 views  14 comments

by MrMagic   ➕follow (2)   💰tip   ignore  

WASHINGTON—The federal budget deficit widened in fiscal year 2017 to the sixth highest deficit on record as government spending growth outpaced growth in tax collections for the second year in a row, the Treasury Department said Thursday.

The budget shortfall rose to $666 billion in the fiscal year that ended on Sept. 30, up $80 billion, or 14%, from fiscal year 2016. That tracks with an estimate from the Congressional Budget Office, which had predicted a $668 billion deficit for the last fiscal year.

Real federal spending in fiscal 2017, which ended on Sept. 30, was higher than in any year in the history of the United States other than fiscal 2009, which was the year that President Barack Obama’s $840 billion stimulus law was enacted.

Total federal spending in fiscal 2017, according to the Treasury, was $3,980,605,000,000. Total federal tax revenue was $3,314,893,000,000.

Prior to this year, the highest level of real federal spending was the $4,024,794,600,000 in constant 2017 dollars (adjusted using the Bureau of Labor Statistics inflation calculator) that the Treasury spent in fiscal 2009.

As a percentage of gross domestic product, the deficit totaled 3.5%, up from 3.2% in fiscal year 2016.

https://www.wsj.com/articles/u-s-ran-666-billion-deficit-in-fiscal-2017-sixth-highest-on-record-treasury-says-1508522722



Comments 1 - 14 of 14        Search these comments

1   anonymous   2017 Oct 21, 1:17pm  

This is CIC right?

Didn't you say repeatedly that the record budget in 2009 was entirely Obama's fault?

How is the record budget in 2017 not entirely Trump's fault using your own logic?
2   anotheraccount   2017 Oct 21, 1:25pm  

anonymous says
Didn't you say repeatedly that the record budget in 2009 was entirely Obama's fault?

How is the record budget in 2017 not entirely Trump's fault using your own logic?


In CIC's brain that type of contradiction is totally ok.
3   MrMagic   2017 Oct 21, 2:20pm  

Wait, didn't our resident financial expert here (or he just thinks he is) say Obama had the lowest spending on record??

The duck wouldn't lie, would he?
4   anonymous   2017 Oct 21, 4:12pm  

me123 says
Wait, didn't our resident financial expert there (or he just thinks he is) say Obama had the lowest spending on record??


I don't know but are you saying you agree with the premise meaning the current spending is Trump's fault?

Or do you disagree with the premise meaning the 2009 budget wasn't Obama's fault?

Or am I seriously to understand that you believe both the 2009 budget was Obama's fault but the 2017 budget wasn't Trump's fault?

Be clear.
5   bob2356   2017 Oct 21, 5:31pm  

me123 says
Real federal spending in fiscal 2017, which ended on Sept. 30, was higher than in any year in the history of the United States other than fiscal 2009, which was the year that President Barack Obama’s $840 billion stimulus law was enacted.


WTF? Any budget passed by Obama started in the new tax year. So what is the relevance of the stimulus law to fiscal 2009 other than to prove once again CIC has no clue what he is talking about? The fiscal 2009 budget was signed by GWB june 5th 2008.

Seems to me this only proves we have had 3 shitty totally fiscally irresponsible presidents in a row. Pretty sad the last president that had any fiscal responsibility at all was Clinton.
6   CBOEtrader   2017 Oct 21, 6:57pm  

bob2356 says
Seems to me this only proves we have had 3 shitty totally fiscally irresponsible presidents in a row. Pretty sad the last president that had any fiscal responsibility at all was Clinton.


Clinton was the least bad of the shitty neocons
7   anonymous   2017 Oct 21, 6:59pm  

I just can't believe there are discussions like this.

There's a guy posting here who in the same thread argues that both the 2009 budget deficit and the 2017 budget deficit are Obama's fault without the slightest inkling of how insane this is.
8   anonymous   2017 Oct 21, 8:17pm  

I take it that you must be strongly against Trump's tax plans then, CiC.
9   MrMagic   2017 Oct 21, 9:00pm  

anonymous says
There's a guy posting here who in the same thread argues that both the 2009 budget deficit and the 2017 budget deficit are Obama's fault without the slightest inkling of how insane this is.


Another one with reading comprehension issues. Please quote in the OP where it says the 2009 Budget was Obama's.

I'll be waiting.
10   bob2356   2017 Oct 21, 9:58pm  

me123 says

Obama's stimulus package was NOT part of the regular budget. It was signed by Obama in Feb of 2009. That was ADDED to the normal budget spending. Now let's see how your reading comprehension works.


OMG piggy got one right. That brings up your batting average to .001%. Now tell us how much of that money was spent in fy 2009 and what percentage of the fy 2009 budget that was.
11   bob2356   2017 Oct 22, 8:05am  

me123 says
Did it add to the federals spending that year or not? Was 2009 the highest year for spending?

Are these questions too difficult for you to answer, Cranky Bob?


You brought it up, you answer it. Did it make 2009 the highest year or would fy 2009 been the highest year anyway? Is this question too difficult for you to answer?
12   HEY YOU   2017 Oct 22, 11:46am  

National debt under Trump & Republicans sets record & continues climbing.
Cutting taxes eliminates debt at the same time.

http://www.usdebtclock.org/
13   marcus   2017 Oct 22, 3:22pm  

We ain't seen nothing yet. Just wait til you see Trump's deficits.
14   FNWGMOBDVZXDNW   2017 Oct 22, 3:55pm  

marcus says
Just wait til you see Trump's deficits.
Those will be deficits the likes that the world has never seen.

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