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$7 trillion

By DoofusRicky following x   2018 Feb 13, 10:04am 2,302 views   47 comments   watch   sfw   quote     share    


That my dear brothers and sisters is how much the spanking new Republican budget will add to the national debt over the next 10 years on top of existing spending. A modest $700 billion per year including growth estimates. It matches Obama's first year crisis budget at the bottom of the Great Recession and then multiplies it by 10.

At the peak of our current economic boom.

There are no words.

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8   DoofusRicky   ignore (1)   2018 Feb 13, 12:34pm   ↑ like (4)   ↓ dislike (0)   quote   flag        

I do recall Keynes once said borrow and spend during a recession and then borrow and spend 10 times as much during an economic boom. Forgive me if I'm incorrectly interpreting Keynes, perhaps I remembered it a little wrong.

What perplexes me far more than Keynes at this juncture is the 8-year history of Rage and despair over the seemingly High spending of the Obama government. Today as the Republicans create
deficit spending so very much worse, inconceivably worse, Nary a peep from those who were so righteous for so long.
9   bob2356   ignore (3)   2018 Feb 13, 12:46pm   ↑ like (2)   ↓ dislike (3)   quote   flag        

zzyzzx says
https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-taxes-first-month-under-tax-cut-run-surplus
Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January


The first quarter of trumps first budget collects record amounts of taxes while heading for one of the biggest deficit years in history. A staggering deficit In the middle of a booming economy and very low unemployment. From the party of fiscal responsibility that said obama's similar deficit in the middle of the worst economic crises in 100 years with huge unemployment was reckless. Really, seriously, you can't make this stuff up.
10   anonymous   ignore (null)   2018 Feb 13, 1:52pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

bob2356 says
The first quarter of trumps first budget collects record amounts of taxes while heading for one of the biggest deficit years in history. A staggering deficit In the middle of a booming economy and very low unemployment. From the party of fiscal responsibility that said obama's similar deficit in the middle of the worst economic crises in 100 years with huge unemployment was reckless. Really, seriously, you can't make this stuff up.


It really is hard to fathom the idiocy of the American people. The lack of critical thinking skills here is striking when one travels abroad.
11   anonymous   ignore (null)   2018 Feb 13, 1:52pm   ↑ like (1)   ↓ dislike (1)   quote   flag        

DoofusRicky says
over the next 10 years


Amazing how concerned the Liberals are about something unknown in the future, as if they had a crystal ball or something. You would think after the last election, they wouldn't believe predictions. Plus, they totally ignore the YYUUGGEE debt Obama left the country with.

Apparently they haven't learned their lesson.
12   anonymous   ignore (null)   2018 Feb 13, 5:48pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

anon_ff966 says
Amazing how concerned the Liberals are about something unknown in the future, as if they had a crystal ball or something. You would think after the last election, they wouldn't believe predictions. Plus, they totally ignore the YYUUGGEE debt Obama left the country with.


It's not a prediction. It's Donald Trump's actual budget.
13   anonymous   ignore (null)   2018 Feb 13, 5:48pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Sniper says
Exactly.

It will NEVER be paid back.... EVER!


Social security is hosed (holds over $2.8 trillion securities)...old people will live on dog food

drBu
14   APOCALYPSEFUCKisShostikovitch   ignore (34)   2018 Feb 13, 7:08pm   ↑ like (2)   ↓ dislike (1)   quote   flag        

Deficits are OK if you're a Republican.

Like fucking 4 year old boys in the ass is a sacrament because it's not adultery.
15   anonymous   ignore (null)   2018 Feb 13, 8:18pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

anon_7c0c9 says
anon_ff966 says
Amazing how concerned the Liberals are about something unknown in the future, as if they had a crystal ball or something. You would think after the last election, they wouldn't believe predictions. Plus, they totally ignore the YYUUGGEE debt Obama left the country with.


It's not a prediction. It's Donald Trump's actual budget.


When was it signed into law, I must have missed that special news flash?
16   anonymous   ignore (null)   2018 Feb 13, 8:21pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Sniper says
WookieMan says
In the end it doesn't matter though.


Exactly.

It will NEVER be paid back.... EVER!


I agree. However it would have been much more intellectually honest had you Made that exact same point during the Obama tenure.
17   HowdyThere   ignore (0)   2018 Feb 13, 8:23pm   ↑ like (1)   ↓ dislike (1)   quote   flag        

My understanding is that the US had an above average corporate tax rate. Under those conditions a modest decrease in the rate could produce a net increase in tax revenues because the taxable base would increase. However, the Trump cuts were not modest. The tax base would have to increase a lot, probably more than is reasonable, to offset the reduced rate.

I'm fiscally conservative in my personal life, and I prefer that governments do the same. Is there a government anywhere that represents me? From fiscal conservatism standpoint, I think Trump has failed with the tax cuts. In the current environment there doesn't seem to be much opportunity for expansion to increase the tax base, and the big players seem to be more interested in stock buy backs than plant expansion or research.

US government debt has resembled US housing debt a decade earlier. The US Federal debt growth during the Obama administration seemed unsustainable, and yet it continued. Could the Trump tax cuts actually be the tipping point that forces change? Probably not; kicking the can down the road is an art now a days.
18   FortWayne   ignore (2)   2018 Feb 13, 8:28pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

HowdyThere says
My understanding is that the US had an above average corporate tax rate. Under those conditions a modest decrease in the rate could produce a net increase in tax revenues because the taxable base would increase. However, the Trump cuts were not modest. The tax base would have to increase a lot, probably more than is reasonable, to offset the reduced rate.

I'm fiscally conservative in my personal life, and I prefer that governments do the same. Is there a government anywhere that represents me? From fiscal conservatism standpoint, I think Trump has failed with the tax cuts. In the current environment there doesn't seem to be much opportunity for expansion to increase the tax base, and the big players seem to be more interested in stock buy backs than plant expansion or research.

US government debt has resembled US housing debt a decade earlier. The US Federal debt growth during the Obama administration seemed unsustainable, and yet it continued. Could the Trump ...


government needs to cut it's fricken spending if it were to be fiscally conservative. I have never seen our government do that, there is no incentive to cut spending, and every agency and worthless bureaucrat wants more money and power.
19   MrMagic   ignore (11)   2018 Feb 13, 9:38pm   ↑ like (3)   ↓ dislike (1)   quote   flag        

anon_349ac says
Sniper says
WookieMan says
In the end it doesn't matter though.


Exactly.

It will NEVER be paid back.... EVER!


I agree. However it would have been much more intellectually honest had you Made that exact same point during the Obama tenure.


I did, does anyone think the situation in DC changed all of a sudden the last year?

Do any of the Liberals actually feel the debt Obama piled on had ANY chance of being paid back?
20   MrMagic   ignore (11)   2018 Feb 13, 9:45pm   ↑ like (3)   ↓ dislike (2)   quote   flag        

HowdyThere says
The US Federal debt growth during the Obama administration seemed unsustainable, and yet it continued.


It didn't "seem", it was.

The amount of debt that Obama piled on in his 8 years equals the amount of debt ALL the presidents before him added, COMBINED.

There was approx. $9 trillion of debt through the first 43 presidents, Obama DOUBLED it to approx. $18 trillion during his tenure.

Yep, "seems" unsustainable.

But, it's all Trump's fault!
21   bob2356   ignore (3)   2018 Feb 14, 9:26am   ↑ like (1)   ↓ dislike (1)   quote   flag        

Sniper says
It didn't "seem", it was.

The amount of debt that Obama piled on in his 8 years equals the amount of debt ALL the presidents before him added, COMBINED.

There was approx. $9 trillion of debt through the first 43 presidents, Obama DOUBLED it to approx. $18 trillion during his tenure.

Yep, "seems" unsustainable.

But, it's all Trump's fault!


There was a negligible debt through the first 39 presidents. Debt was run up and paid off. Reagan changed that.
Reagan doubling the debt was Reagan's fault.
Bush doubling the debt was Bush's fault.
Obama doubling the debt (of mostly Reagan and Bush) was Obama's fault.
Trump doubling the debt will be Trump's fault.

Funny how 3 of the 4 claimed to be fiscal conservative who would shrink the size of government and pay down the debt.
22   anonymous   ignore (null)   2018 Feb 14, 10:05am   ↑ like (1)   ↓ dislike (0)   quote   flag        

It’s stupid to blame Obama for cleaning up Bushes mess.

Sniper says
HowdyThere says
The US Federal debt growth during the Obama administration seemed unsustainable, and yet it continued.


It didn't "seem", it was.

The amount of debt that Obama piled on in his 8 years equals the amount of debt ALL the presidents before him added, COMBINED.

There was approx. $9 trillion of debt through the first 43 presidents, Obama DOUBLED it to approx. $18 trillion during his tenure.

Yep, "seems" unsustainable.

But, it's all Trump's fault!
23   HowdyThere   ignore (0)   2018 Feb 14, 7:09pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

FortWayne says
government needs to cut it's fricken spending if it were to be fiscally conservative. I have never seen our government do that, there is no incentive to cut spending, and every agency and worthless bureaucrat wants more money and power.


I get it. But where are the Trump spending cuts? I wasn't impressed with Obama running up the debt, and I expected more from Trump. He should have cut spending first, and then cut taxes.
24   mell   ignore (2)   2018 Feb 14, 7:11pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

HowdyThere says
FortWayne says
government needs to cut it's fricken spending if it were to be fiscally conservative. I have never seen our government do that, there is no incentive to cut spending, and every agency and worthless bureaucrat wants more money and power.


I get it. But where are the Trump spending cuts? I wasn't impressed with Obama running up the debt, and I expected more from Trump. He should have cut spending first, and then cut taxes.


Agreed he should have done both. I hope the SNAP money conversion to proper food bill goes through so they stop buying booze, chips and Iphones but instead get healthy nutrition. And save billions for the taxpayer.
25   MrMagic   ignore (11)   2018 Feb 14, 7:24pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

anon_fad35 says
It’s stupid to blame Obama for cleaning up Bushes mess.


OK, thanks for sharing that, based on that narrative, Trump has 7 more years to clean up Obama's mess, right?

Trump can't be blamed for any added debt. It will be all Obama's fault.

I'm glad that was cleared up!
26   MrMagic   ignore (11)   2018 Feb 14, 7:26pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

HowdyThere says
I get it. But where are the Trump spending cuts? I wasn't impressed with Obama running up the debt, and I expected more from Trump. He should have cut spending first, and then cut taxes.


You might want to take a look at the White House and administration salaries, for starters. Trump is operating with a whole lot less staff then what Obama had.
27   ThreeBays   ignore (0)   2018 Feb 14, 10:11pm   ↑ like (1)   ↓ dislike (1)   quote   flag        

anon_8f378 says
bob2356 says
The first quarter of trumps first budget collects record amounts of taxes while heading for one of the biggest deficit years in history. A staggering deficit In the middle of a booming economy and very low unemployment. From the party of fiscal responsibility that said obama's similar deficit in the middle of the worst economic crises in 100 years with huge unemployment was reckless. Really, seriously, you can't make this stuff up.


It really is hard to fathom the idiocy of the American people. The lack of critical thinking skills here is striking when one travels abroad.


It's fruitless to argue logic with trolls. You're telling someone 2 is greater than 1, and they're laughing back with one hand in their pants.
28   bob2356   ignore (3)   2018 Feb 15, 6:18am   ↑ like (0)   ↓ dislike (1)   quote   flag        

anon_8f378 says
bob2356 says
The first quarter of trumps first budget collects record amounts of taxes while heading for one of the biggest deficit years in history. A staggering deficit In the middle of a booming economy and very low unemployment. From the party of fiscal responsibility that said obama's similar deficit in the middle of the worst economic crises in 100 years with huge unemployment was reckless. Really, seriously, you can't make this stuff up.


It really is hard to fathom the idiocy of the American people. The lack of critical thinking skills here is striking when one travels abroad.


Like a lack of thinking skills to form up any sort of countervailing argument or present a case factually repudiating what I said. That kind of lack of thinking skills?
29   bob2356   ignore (3)   2018 Feb 15, 6:21am   ↑ like (0)   ↓ dislike (1)   quote   flag        

Sniper says
HowdyThere says
I get it. But where are the Trump spending cuts? I wasn't impressed with Obama running up the debt, and I expected more from Trump. He should have cut spending first, and then cut taxes.


You might want to take a look at the White House and administration salaries, for starters. Trump is operating with a whole lot less staff then what Obama had.


Being too incompetent to appoint people and get them through the senate isn't considered a serious positive management skill.
30   bob2356   ignore (3)   2018 Feb 15, 6:25am   ↑ like (0)   ↓ dislike (1)   quote   flag        

ThreeBays says
It's fruitless to argue logic with trolls. You're telling someone 2 is greater than 1, and they're laughing back with one hand in their pants.


Maybe you should try presenting your logic skills. Like how the party of fiscal responsibility says a trillion dollar defect in a recession is bad but a trillion dollar deficit in a booming economy is good. I anxiously await an explanation of the math involved.
31   anonymous   ignore (null)   2018 Feb 15, 6:31am   ↑ like (0)   ↓ dislike (0)   quote   flag        

bob2356 says
ThreeBays says
It's fruitless to argue logic with trolls. You're telling someone 2 is greater than 1, and they're laughing back with one hand in their pants.


Maybe you should try presenting your logic skills. Like how the party of fiscal responsibility says a trillion dollar defect in a recession is bad but a trillion dollar deficit in a booming economy is good. I anxiously await an explanation of the math involved.


Black man = bad

Republicans = good
32   ThreeBays   ignore (0)   2018 Feb 15, 8:28am   ↑ like (0)   ↓ dislike (1)   quote   flag        

bob2356 says
ThreeBays says
It's fruitless to argue logic with trolls. You're telling someone 2 is greater than 1, and they're laughing back with one hand in their pants.


Maybe you should try presenting your logic skills. Like how the party of fiscal responsibility says a trillion dollar defect in a recession is bad but a trillion dollar deficit in a booming economy is good. I anxiously await an explanation of the math involved.


Go back and read what I wrote? Hint, it supports what you're saying.
33   anonymous   ignore (null)   2018 Feb 15, 8:43am   ↑ like (0)   ↓ dislike (0)   quote   flag        

bob2356 says
Like a lack of thinking skills to form up any sort of countervailing argument or present a case factually repudiating what I said. That kind of lack of thinking skills?


I was agreeing with you.
34   WookieMan   ignore (0)   2018 Feb 15, 9:28am   ↑ like (0)   ↓ dislike (0)   quote   flag        

anon_8f378 says
bob2356 says
Like a lack of thinking skills to form up any sort of countervailing argument or present a case factually repudiating what I said. That kind of lack of thinking skills?


I was agreeing with you.


I noticed this as well. Little strange from bob. Two separate comments too, both agreeing with him.
35   bob2356   ignore (3)   2018 Feb 15, 10:34am   ↑ like (0)   ↓ dislike (1)   quote   flag        

ThreeBays says

Go back and read what I wrote? Hint, it supports what you're saying.


anon_8f378 says

I was agreeing with you.


My apologies. It wasn't clear if I was being called a troll without thinking skills or the references were about the trump cult followers who bring hypocrisy to a new level never before seen in history.
36   MrMagic   ignore (11)   2018 Feb 15, 10:53am   ↑ like (0)   ↓ dislike (0)   quote   flag        

bob2356 says
Sniper says
HowdyThere says
I get it. But where are the Trump spending cuts? I wasn't impressed with Obama running up the debt, and I expected more from Trump. He should have cut spending first, and then cut taxes.


You might want to take a look at the White House and administration salaries, for starters. Trump is operating with a whole lot less staff then what Obama had.


Being too incompetent to appoint people and get them through the senate isn't considered a serious positive management skill.


So general staff employees have to be sent through the senate before they can be hired?

When did Trump sign that E.O.?
37   anonymous   ignore (null)   2018 Feb 15, 11:24am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Republican deficits are good, no matter how big, even if they occur in good economic times when deficits should be lower or even nonexistent.
38   anonymous   ignore (null)   2018 Feb 15, 11:28am   ↑ like (1)   ↓ dislike (0)   quote   flag        

anon_ff966 says
Amazing how concerned the Liberals are about something unknown in the future, as if they had a crystal ball or something.


This is an extremely good point. People in the know fully expect the Trump deficits resulting from the tax cuts to be FAR GREATER than the conservative estimate of 7 trillion in 10 years.
39   anonymous   ignore (null)   2018 Feb 15, 12:03pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

bob2356 says
My apologies. It wasn't clear if I was being called a troll without thinking skills or the references were about the trump cult followers who bring hypocrisy to a new level never before seen in history.


It's OK--agreement is so very rare on here that's it's hard to believe it when it happens.
41   anonymous   ignore (null)   2018 Feb 15, 3:59pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

anon_0d975 says
People in the know


Who would these "people" be?
43   bob2356   ignore (3)   2018 Feb 15, 5:22pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

anon_aa28a says
Tim Aurora says
https://www.usatoday.com/story/news/politics/2017/12/20/deficit-could-hit-1-trillion-2018-and-thats-before-full-impact-tax-cuts/969347001/


"could"

There you go!


When, not if but when, the economy tanks the deficits will soar far beyond 1 trillion. This courtesy of the same people who said Obama was wrecking the country with the same deficits in much worse economic times. Democrats are pretty poor, but the republican party has become a total joke. I belonged to the republican party for a long time back when being a republican politician meant doing more than sucking ultra rich libertarians dicks.
44   Strategist   ignore (3)   2018 Feb 15, 7:48pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

DoofusRicky says
That my dear brothers and sisters is how much the spanking new Republican budget will add to the national debt over the next 10 years on top of existing spending. A modest $700 billion per year including growth estimates.


That's not too bad actually. It's a 35% increase over 10 years. Our economy in nominal terms will grow twice as much.
45   anonymous   ignore (null)   2018 Feb 16, 8:35am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Strategist says
That's not too bad actually. It's a 35% increase over 10 years. Our economy in nominal terms will grow twice as much.


Want to name all the 10 year periods the economy grew 70%?
46   CBOEtrader   ignore (2)   2018 Feb 16, 8:48am   ↑ like (0)   ↓ dislike (0)   quote   flag        

HowdyThere says
Is there a government anywhere that represents me?


Rand Paul. That's about it.
47   HappyGilmore   ignore (1)   2018 Feb 16, 9:46am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Strategist says
hat's not too bad actually. It's a 35% increase over 10 years. Our economy in nominal terms will grow twice as much.


Except that it's already accounted for in the $700 billion/year increase.

DoofusRicky says
A modest $700 billion per year including growth estimates.


And those growth estimates are unrealistically rosy.. So it's almost certainly going to add much more than $700 Billion/year.

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