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

quote:

---

Our two major parties are scared shitless of trying to tamper with Medicare or SS

---

Ok

If only there was a department with a bloated budget.

Something that rhymes with offense.

Got to cold turkey Medicare and Social security, which will never happen, and bankrupt us as a nation; but we can always print more money , and have a good Military, or we’re screwed

quote:

---

Economic growth was also solid during that timeframe.

---

And you don't see a historical trend of economic growth being boosted by a reduction in marginal rates?

quote:

---

the marginal differences could dig us deeper during leaner times.

---

But, you would also agree that curtailing spending would provide immediate and lasting benefits, no speculation required, right?

quote:

---

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

---

So you agree that our government spends too much money?

quote:

---

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

---

I support the tax cuts, but receipts were actually down last year by 1.6%, and while they’re up 3.7% for the first 6 months of this year compares to 2018, they’re only up 4% compared to 2018.

Overall, through the first 18 months since the tax cuts officially began, receipts are up on average 0.39%. They were up by 8.34% on average for the 5 years before it (2012-2017).

If they had continued at the rate before the cuts, they would have $529 billion more in receipts over the 18 months. So despite the population growth and a strong and growing economy, receipts haven’t even kept up with inflation.

So regardless of one’s views in the tax cuts, they have undoubtedly resulted in a significant decrease in receipts. And while not limiting spending increases is inexcusable and a major problem, the negative impact on tax receipts was the opposite of what the administration was arguing and necessary to justify the lack of spending cuts.

I’m waiting on a response to this post.

quote:

---

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

---

Yet... Obama’s treasurer couldn’t even fill out a Turbo Tax return...

The US government needs to stop spending money.

It is the equivalent of an airheaded trophy wife who blows all her husbands money and then complains that the bank account is empty.

The US has a spending problem. We have record high revenue right now and are blowing through it faster than an illegal immigrant blows through tax money in California

quote:

---

Yet... Obama’s treasurer couldn’t even fill out a Turbo Tax return...

---

Irrelevant.