re: Trump pushes for balanced federal budget, a potentially historic feat

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Right now our deficits are running 7.5% of GDP.

Push for a balanced budget. That’s a deficit of 0% GDP.

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Here is the issue:

Military, entitlements, and interest on the debt consume all federal tax revenues.

SS: 1.42T
Medicare: $874B
Health: $912B
Military: 875B
Interest: 872B

Total: $4.9 T

Federal Revenues: $4.92T

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When proven wrong, run away. The MAGA tradition. When confronted with facts, y'alls neck inches further up your a-hole. Trump is a Demagogue, do you deny this?

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Proven what? I agree he used tariffs as leverage on several countries to get them to do their part in our national security on shared borders. You completely ignore the discussion on reciprocal tariffs EO and pretend that those 3 examples are the only tariffs in play. You further have disingenuous discussions about him and his record of not starting new wars. Now you want to debate that he’s only appealing to people based on prejudice when in fact he had higher percentages of Hispanic and black voters than any republican in history. He’s staunchly pro-American and fighting against these other institutions who have been tearing down America. If that makes him a demagogue by your definition then so be it.

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Seems like a self taught economist would understand that trade deficits usually have a negative impact on a nations economy.

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It seems like an Auburn educated economists would realize Wealth is no longer static and is created, so trade imbalances will usually NOT favor the wealthier nations in the modern economy.

Y'all are still stuck in the 1800s when we were backed by Gold. You need someone to teach you about tariffs other than Trump.

The people your policies will destroy are those who buy parts or raw materials, add value to them (create wealth) and sell to the US consumer or export.

Do you know why original US tariffs did not penalize raw materials or components?

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I wish him luck. He will need it.

The Dems love their programs, and will not surrender them easily.

The GOP loves its tax cuts, and will not surrender them easily, either.

He will need to get rid of both, to come anywhere near balancing the budget.

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The right tax cuts can generate revenue. Americans don't sit on their money; they pump it back into the economy.

No meaningful spending bills will pass. Rand Paul's $1.5 trillion bill was nuked. Didn't even come close to passing.

GOP loves their programs, too.

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Trump pushes for balanced federal budget, a potentially historic feat

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The last time Congress passed an actual balanced budget (their main job) was 1996. Since then, they have passed nothing but omnibus bills and continuing resolutions that circumvent the Constitution and allow for spending on otherwise prohibited expenditures.

Notice the correlation between that fact, and the national deficit explosion over the same time period.

It truly would be an historic accomplishment if Trump manages to actually get Congress to do their one job again. It's crazy that we've fallen that far.

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Where are you getting these numbers? Which tariffs?

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The total revenue raised will be less than the customs duty revenue generated by the tariff because tariffs reduce incomes, and thus reduce income and payroll tax collections. Accounting for income and payroll tax offsets, our conventional revenue estimate finds that the 10 percent tariff would generate $2 trillion of increased revenue, while the 20 percent tariff would generate $3.3 trillion over a decade.

Because both taxes would shrink the size of the US economy, the dynamic scores are smaller: $1.7 trillion for the 10 percent tariff and $2.8 trillion for the 20 percent tariff. If foreign countries retaliate, even partially, to the US-imposed tariffs, revenue will fall further as the economy shrinks even more. For example, we estimate a 10 percent tariff on all US exports would shrink tax revenues on a dynamic basis by more than $190 billion over 10 years.

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LINK

This is actually the most optimistic source I found. Others claim less than 2.5T in net tax revenue.

Trumps tariffs will shrink the economy, prop up Big Corp, and stifle small business.

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Trumps tariffs will shrink the economy, prop up Big Corp, and stifle small business.

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If people thought like you did, wed have Kamala Harris going full speed towards tyranny and insolvency. You are a miserable contrarian clown that is probably considered a piece of shite to everyone that interacts with you regularly

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If we're going by whether or not there was a budget surplus, the answer is FY2001 under GWB with a surplus of ~$128B.

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Interesting. Was not aware of that.

Thanks.

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It must be done. You can't have DOGE out there pointing out billions upon billions of dollars in waste then turn around and tell the people that the country is going to continue to run in a deficit

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Some of us have been trying to explain this inevitability to y'all since Doge was first floated.

Unless they make major cuts to social security and Medicare, there isn't enough to cut to balance the budget.