Posted by
Message
Mickey Goldmill
LSU Fan
Baton Rouge
Member since Mar 2010
8911 posts

US government is running out of money faster than expected, Mnuchin warns
LINK

Treasury Secretary Steven Mnuchin on Friday issued a warning Friday that the US government is at risk of running out of cash sooner than expected.

In a letter to Democratic House Speaker Nancy Pelosi, Mnuchin wrote that the US might default on its obligations as soon as early September, before Congress returns from its summer recess.

"Based on updated projections, there is a scenario in which we run of out cash in early September, before Congress reconvenes," Mnuchin wrote in a letter.

The federal government has not been able to borrow money since March, when congressionally-mandated borrowing limits went back into force. The US Treasury, which is facing a growing deficit thanks in part to President Donald Trump's 2017 tax cuts, had said it had enough cash to last until the fall.


LSURussian
LSU Fan
Member since Feb 2005
115430 posts

re: US government is running out of money faster than expected, Mnuchin warns
quote:

US government is running out of money faster than expected,
Me, too.....


Replies (0)
Replies (0)
731
TBoy
Notre Dame Fan
Kalamazoo
Member since Dec 2007
11902 posts

re: US government is running out of money faster than expected, Mnuchin warns
Don’t worry. Trump will save us all from Trump.


wutangfinancial
LSU Fan
Dallas, TX
Member since Sep 2015
1479 posts
 Online 

re: US government is running out of money faster than expected, Mnuchin warns
quote:

The US Treasury, which is facing a growing deficit thanks in part to President Donald Trump's 2017 tax cuts, had said it had enough cash to last until the fall.


Nice, un-biased journalisming right there. Tax receipts went up but data is hard to interpret so I understand the confusion.


Replies (0)
Replies (0)
777
wickowick
LSU Fan
Head of Island
Member since Dec 2006
39965 posts
 Online 

re: US government is running out of money faster than expected, Mnuchin warns
quote:

growing deficit thanks in part to President Donald Trump's 2017 tax cuts, had said it had enough cash to last until the fall.


Any yet tax receipts are at record numbers. It is a spending problem not an income problem.


wookalar1013
Tennessee Fan
Rocky Mountain Way
Member since Jun 2017
1286 posts

re: US government is running out of money faster than expected, Mnuchin warns
only trump could bring in less money in this economy


LSUTIGER in TEXAS
Houston Astros Fan
Member since Jan 2008
11069 posts

re: US government is running out of money faster than expected, Mnuchin warns
The US does not have a revenue problem. They have a spending problem. Entitlements are going to sink this country if free health care for illegals that citizens pay for but some don’t have access to doesn’t first


Geauxboy
LSU Fan
NW Arkansas
Member since Oct 2006
2158 posts

re: US government is running out of money faster than expected, Mnuchin warns
quote:

Don’t worry. Trump will save us all from Trump.


At this point, you can no longer be taken seriously.


Replies (0)
Replies (0)
592
Magician2
SMU Fan
Grand Coteau
Member since Oct 2015
4112 posts

re: US government is running out of money faster than expected, Mnuchin warns
What budget would you propose and what cuts would you make?

Please be specific.


HailHailtoMichigan!
LSU Fan
Trabuco Canyon, CA
Member since Mar 2012
53221 posts
 Online 

re: US government is running out of money faster than expected, Mnuchin warns
Wookalar, 85% of the deficit increase is due to Medicare and ss

Stop blaming the TCJA



TD SponsorTD Fan
USA
Member since 2001
Thank you for supporting our sponsors
Advertisement
Brosef Stalin
LSU Fan
Member since Dec 2011
29925 posts
 Online 

re: US government is running out of money faster than expected, Mnuchin warns
They'll just print more like they always do.


Replies (0)
Replies (0)
25
CleverUserName
Mississippi St. Fan
Member since Oct 2016
2059 posts

re: US government is running out of money faster than expected, Mnuchin warns
quote:

Don’t worry. Trump will save us all from Trump.


What branch is responsible for appropriations again? In particular.. which body?

Downvote and be on your way.


Replies (0)
Replies (0)
333
FearlessFreep
Auburn Fan
Baja Alabama
Member since Nov 2009
7998 posts

re: US government is running out of money faster than expected, Mnuchin warns
quote:

Don’t worry. Trump will save us all from Trump.
I don't know, maybe it's from the interest payments on the $9,165,082,785,693.40 in debt that the FedGov incurred from 2009-2016?

Source, if you're really interested


gthog61
Georgia Tech Fan
Irving, TX
Member since Nov 2009
44375 posts
 Online 

re: US government is running out of money faster than expected, Mnuchin warns
Hey vermin tell us what the democrats have done about it

shite tell us anything useful they have done

I got it! Call somebody racist


Replies (0)
Replies (0)
254
mmcgrath
LSU Fan
New Jersey
Member since Feb 2010
24941 posts

re: US government is running out of money faster than expected, Mnuchin warns
quote:


Treasury Secretary Steven Mnuchin on Friday issued a warning Friday that the US government is at risk of running out of cash sooner than expected.

Mnuchin is failing at the simplest and most important job he has, managing the US checkbook.


TBPland
LSU Fan
League City, TX
Member since Sep 2009
417 posts

re: US government is running out of money faster than expected, Mnuchin warns
It's a spending problem.

The Feds take in enough money


Revelator
Member since Nov 2008
36329 posts

re: US government is running out of money faster than expected, Mnuchin warns
quote:

The US Treasury, which is facing a growing deficit thanks in part to President Donald Trump's 2017 tax cuts,



This is a total lie. The tax revenues went up after the tax cuts, but the spending exceeded the record tax hauls. It's simply math. Stop lying.


Replies (0)
Replies (0)
233
HC87
LSU Fan
Swansboro NC
Member since Dec 2014
1908 posts

re: US government is running out of money faster than expected, Mnuchin warns
And continues to increase, with no signs of even leveling out. Cmon, you gotta do better than that.


Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
68065 posts

re: US government is running out of money faster than expected, Mnuchin warns
quote:

The US Treasury, which is facing a growing deficit thanks in part to President Donald Trump's 2017 tax cuts


Well, I'm just going to go ahead and have to call bull shite on this, as receipts are up, up, up, month-over-month so, like we've been telling you folks my whole life, the United States Treasury DOES NOT have a revenue problem.

It has a spending problem. One cannot spend one's way into prosperity. The bipartisan "faith" that this isn't true makes it a religion equivalence or worse.

Just taking a few samples of monthly receipts:

April (typically a big month):

2019 - 535.5bn
2018 - 510.4bn
2017 - 455.6bn
2016 - 438.4bn
2015 - 471.8bn
2014 - 414.2bn
2013 - 406.7bn
2012 - 318.8bn

February (typically a low month for receipts)

2019 - 167.2bn
2018 - 155.6bn
2017 - 171.7bn
2016 - 169.1bn
2015 - 139.3bn
2014 - 144.3bn
2013 - 122.8bn
2012 - 103.4bn


So, no, Virginia, we do not have a revenue problem and Trump's tax cuts are NOT increasing the deficit.

Government spending (a bipartisan practice if there ever was one) IS the problem with the debt and deficit. Always has been. Is. Always will be.
This post was edited on 7/12 at 2:06 pm


TigerFanatic99
Chicago Cubs Fan
South Bend, Indiana
Member since Jan 2007
12521 posts

re: US government is running out of money faster than expected, Mnuchin warns
quote:

only trump could bring in less money in this economy


What part of tax receipts being up since the tax cuts is hard to understand?

Spending if the fricking problem, and you are free, welcome, and honest to blame that on Trump all you want. But he's not overseeing a revenue problem.


first pageprev pagePage 1 of 6next pagelast page

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram