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Budget Deficit?
Posted on 10/27/20 at 12:32 pm
Posted on 10/27/20 at 12:32 pm
Why has it increased so much under Trump (before Covid)?
Can someone explain to me in a non-biased way? Tried to find an article online from non fake news but no luck.
Is it just tax cuts? Wasn't able to cut funding?
Does it matter?
Can someone explain to me in a non-biased way? Tried to find an article online from non fake news but no luck.
Is it just tax cuts? Wasn't able to cut funding?
Does it matter?
This post was edited on 10/27/20 at 12:33 pm
15
Posted on 10/27/20 at 12:33 pm to jyoung1
No, the tax cuts increased receipts. It’s spending, plain and simple.
This post was edited on 10/27/20 at 12:34 pm
Posted on 10/27/20 at 12:33 pm to jyoung1
Things are more expensive than the year before.
Posted on 10/27/20 at 12:33 pm to jyoung1
Tax revenues actually increased after the tax cuts.
Something else happened though.....oh..spending increased at a faster pace.
Something else happened though.....oh..spending increased at a faster pace.
Posted on 10/27/20 at 12:33 pm to jyoung1
Spending went unchecked as always.
Posted on 10/27/20 at 12:34 pm to jyoung1
quote:
Does it matter?
Yes
This post was edited on 10/27/20 at 12:36 pm
Posted on 10/27/20 at 12:35 pm to jyoung1
quote:Go read any of the 2009-2013 CBO outlooks. In short, baseline increase under Obama disguised as "stimulus", demographics (old people on SS/MEDI and the growing cost to service the debt (interest).
Why has it increased so much under Trump (before Covid)?
quote:No. It's going kaboom. Just a question of how soon it happens.
Does it matter?
This post was edited on 10/27/20 at 12:36 pm
Posted on 10/27/20 at 12:35 pm to jyoung1
The President can’t spend a penny that congress doesn’t appropriate. The problem is the democratic controlled congress and the fact that the country has been spending money on continuing resolutions and hasn’t actually had a budget in years.
Posted on 10/27/20 at 12:44 pm to Taxing Authority
quote:
Go read any of the 2009-2013 CBO outlooks. In short, baseline increase under Obama disguised as "stimulus", demographics (old people on SS/MEDI and the growing cost to service the debt (interest).
Taxing has it nailed down.
NO MATTER WHAT we do to cut spending or even keep the overall budget flatlined... SS/MEDI will continue to absolutely blow up the budget in the next decade.
Posted on 10/27/20 at 12:48 pm to jyoung1
The entire deficit/debt problem is one that cant be fixed due to a number of issues.
The incentives are all out of whack.
What politician can tell their citizens:
"im going to charge you more and give you fewer services in order to pay for past excesses....and in the process it's going to result in a calculated recession"
and still get elected?
Gov spending (net of taxes) is a component of GDP. When GDP growth has been dependent on deficit spending for the better part of 20 years no wants to be the person that stops that growth.
You will get blamed for the recession and the longer term benefits that come with the fiscal fix will be enjoyed by your replacement.
The incentives are all out of whack.
What politician can tell their citizens:
"im going to charge you more and give you fewer services in order to pay for past excesses....and in the process it's going to result in a calculated recession"
and still get elected?
Gov spending (net of taxes) is a component of GDP. When GDP growth has been dependent on deficit spending for the better part of 20 years no wants to be the person that stops that growth.
You will get blamed for the recession and the longer term benefits that come with the fiscal fix will be enjoyed by your replacement.
Posted on 10/27/20 at 12:57 pm to jyoung1
We had more money coming in and even more going out.
Posted on 10/27/20 at 1:08 pm to Sooner5030
Fortunately for the concerned academia now has taken Keynesian theory to it's logical conclusion when humans are in charge and now think deficits are a benefit to tax payers. Good news is they won't have to raise your taxes using this new brain busting logic that defies all of civilized human history 
This post was edited on 10/27/20 at 1:09 pm
Posted on 10/27/20 at 1:16 pm to jyoung1
Although receipts have increased so has spending. The money managers, Congress, cannot stop there addiction. The free shite needs to stop .
Posted on 10/27/20 at 1:18 pm to jyoung1
Do you remember the constant: 'Govt is gonna shut down unless we reach an agreement' ??
The Dems run the House and they spend money. Trump went along with a lot of it to avoid shut down.
The Dems run the House and they spend money. Trump went along with a lot of it to avoid shut down.
Posted on 10/27/20 at 1:23 pm to jyoung1
Because there are no actual budgets any longer and only continuing resolutions that the Republicans and Trump don't fight against enough. They fear the whole "shut down" BS.
In his second term, he needs to severely reduce spending.
In his second term, he needs to severely reduce spending.
Posted on 10/27/20 at 1:50 pm to jyoung1
Congress has a spending problem.
Posted on 10/27/20 at 1:54 pm to jyoung1
entitlements. ALWAYS entitlements!
Posted on 10/27/20 at 1:57 pm to Nosevens
quote:To be fair, the voters don't want (real) spending cuts. Our government is functioning as designed--representative of the people.
The money managers, Congress, cannot stop there addiction.
Don't believe it?
Go campaign on cutting SS and Medicare and see how many votes you get.
Posted on 10/27/20 at 1:59 pm to jyoung1
quote:
Why has it increased so much under Trump
Because our Congress is wildly out of control and 90% minimum of Americans don’t understand what congress does or why it’s so important.
Ask anyone to name just one of their congressional reps in either houses and I’d bet my life 60% of people can’t do it.
This post was edited on 10/27/20 at 1:59 pm
Posted on 10/27/20 at 2:48 pm to Taxing Authority
Your statement while partly correct about not wanting cuts is because of the give me something for free crowd . This vicious cycle of give more begets dependency which they desire even more . It can be reversed if the idea of self worth and education reforms are instilled in the population .
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