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FightnBobLafollette
Wisconsin Fan
Member since Oct 2017
5933 posts
 Online 

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

it’s like 2006-2016 never happened, eh?


We are discussing now.

Weird how you avoided Buckeye’s post.
This post was edited on 7/12 at 6:54 pm


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:

And continues to increase, with no signs of even leveling out. Cmon, you gotta do better than that.
Just pointing out the hypocrisy of blaming the ever-increasing debt on Trump.

The patterns have been in place for decades. Yes, even when Clinton had surpluses on paper for a couple of years.


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DJT45
UAB Fan
Member since Jul 2019
135 posts

re: US government is running out of money faster than expected, Mnuchin warns
The most thin skinned, lying POS that has ever been in the WH. Amazing how these dumb bastards believe everything he says.



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33
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:

Cut 1% per year per agency. Including defense and intelligence. Until balanced.


Pretty sure Rand Paul has a bill similar to this. It would take a decade to balance the deficit, but it won't even be taken to the floor.


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white beans
LSU Fan
Istrouma
Member since Sep 2009
4377 posts
 Online 

re: US government is running out of money faster than expected, Mnuchin warns
Slow day on the dorkboard?

Send possum landshark and jb3 over.


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RTM4
Texas Fan
Pflugerville
Member since Apr 2018
553 posts

re: US government is running out of money faster than expected, Mnuchin warns
No you just suck cock. You might want to ask the guys you when you finish swallowing if they can chip in some bills to help you pay off your Uber.

You loser.


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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
36394 posts

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

Irrelevant.
So it's not relevant (when talking about competency for conducting the job of Sec Treasuary... the (faux) ignorance of not knowing that 1099 income comes with a tax liability isn't relevant? Ok.


Taxing Authority
LSU Fan
Houston
Member since Feb 2010
36394 posts

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

We are discussing now.
Nope.

quote:

Weird how you avoided Buckeye’s post.
You seem to believe that somehow his post is problematic. It's not.

The government already takes too much money. Has for a long time. Increased tax revenues under Obama is meaningless. Spending increases FAR outpaced any increased revenue. His post only reinforces that spending is out-of-control.

While he shows that tax receipts were up 8.3% from 2012-2017... Spending over that same time period was up an average of 2.6%. Leaving less than a 5% spread. Big whoop.

But those years aren't really telling.

Most of the damage was done between 2007 and 2009. During that time spending increased by 28.9% while tax receipts simulatneously fell by 18.0%. Over same time period out deficit went from a measly $160B to $1.4 TRILLION. A 779% increase.

If we had the same budget spending today as we did in 2007 (and I don't remember people dying in the streets, or government being too small at that point) with today's revenue... we'd have a $1.8 TRILLION dollar surplus.

Let those numbers sink in (if you can comprehend them) and show me why we have a revenue problem? Or that it's Mnuchin's fault.
This post was edited on 7/12 at 9:21 pm


LSUGrrrl
LSU Fan
Frisco, TX
Member since Jul 2007
14272 posts
 Online 

re: US government is running out of money faster than expected, Mnuchin warns
Maybe the left should finally accept the 2016 election results and consequences. We can’t afford all these endless political scavenger hunts, stalling tactic lawsuits, special prosecutors...


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pizzatiger
Member since Apr 2019
274 posts

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

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



It definitely is.

quote:

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



Yes, but government spending is also a component of GDP / growth. When we cut taxes and do not cut spending, the deficit widens and we are essentially financing growth at this point. We are maximizing short-term growth and piling up debt.

If we actually balanced the budget, growth would be severely curtailed.
This post was edited on 7/13 at 10:30 am


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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:

When we cut taxes and do not cut spending, the deficit widens and we are essentially financing growth at this point.


No. Receipts are up (or no worse than flat) after the rate cuts.

So, it is only and always spending that drives the deficit and debt.

Period. Full stop.


dewster
LSU Fan
Chicago
Member since Aug 2006
16150 posts

re: US government is running out of money faster than expected, Mnuchin warns
Why would you post a CNN article?

Find a real source.


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pizzatiger
Member since Apr 2019
274 posts

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

No. Receipts are up (or no worse than flat) after the rate cuts.

So, it is only and always spending that drives the deficit and debt.

Period. Full stop.


You can think of it however you want but economists refer to this an an opportunity cost. But for the tax cuts, we would be projected to have more revenue and a smaller deficit.

Doesn't matter anyway. We aren't going to touch spending in any meaningful way because, like I said, that would harm growth too.

We are clearly in "maximize growth at all costs" mode

It's irresponsible
This post was edited on 7/13 at 10:44 am


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pizzatiger
Member since Apr 2019
274 posts

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

So, it is only and always spending that drives the deficit and debt.



And look, I agree that we have a spending problem but you cannot straighten things out by cutting taxes. It's not realistic. You have to collect revenue during good times to save for lean times at least until we get the financial house in order. As soon as a recession hits, we are fricked again
This post was edited on 7/13 at 10:47 am


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:

but you cannot straighten things out by cutting taxes.


I agree with you. We must also curb government spending and live within our means. We can do it gradually or wait until it has to be abrupt.

Increasing taxes always drags the economy, which is resistant to taxation beyond a certain point, anyway.

quote:

You have to collect revenue during good times


Which a relatively flat tax rate during times of growth will do.

quote:

to save for lean times at l


You mean, "to not borrow so much" - "save" would imply we have no debt and that is unlikely during any of our lifetimes. Reducing the deficit, now, only means, "not borrow so much." Hopefully, we can retire some debt and reduce the debt service.

Debt service will be what brings down this entire house of cards. Debt service driven by spending, not by reduced marginal rates (which spur growth and create a larger pie).

This post was edited on 7/13 at 11:23 am


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TigerFanInSouthland
LSU Fan
Louisiana
Member since Aug 2012
22555 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, Mnuchin warns


So stop fricking spending my money you cocksuckers.


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Douboy
LSU Fan
Louisiana
Member since Nov 2007
4239 posts

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

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


That is a lie. Tax revenue went up!


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BigAppleBucky
Wisconsin Fan
New York
Member since Jan 2014
1384 posts

re: US government is running out of money faster than expected, Mnuchin warns
Hardly a surprise. They have to cut or eliminate social security and medicare.


TopFlightSecurity
Arkansas Fan
Savannah, Georgia
Member since Dec 2018
440 posts

re: US government is running out of money faster than expected, Mnuchin warns
Next recession is going to crush us. We're running a trillion dollar deficit in a good economy. It's funny thinking back to when Republicans pretended to be fiscally conservative.


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goatmilker
LSU Fan
2014 drunkin Bobby award winner!
Member since Feb 2009
46190 posts

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


usgov


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