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re: Will we see any balanced budgets/surpluses under Trump's next admin?
Posted on 7/20/24 at 12:42 pm to SlowFlowPro
Posted on 7/20/24 at 12:42 pm to SlowFlowPro
I doubt it.
0
Posted on 7/20/24 at 12:43 pm to Privateer 2007
quote:
But, a decrease of debt/gdp ratio.
This can be done via economic growth.
Assuming a balanced budget, GDP would have to grow at higher than our interest rates. Right now that's about 3.3%
Posted on 7/20/24 at 12:43 pm to RogerTheShrubber
You can't have a surplus if you are trillions in debt. Clinton didn't have a surplus because we were billions in debt. Take your 90s propaganda out of here. The question is will he reduce the debt and the answer is no he won't unless every single member of congress is replaced with candidates who care about reducing the debt. No one can achieve this without that, and that isn't happening.
Posted on 7/20/24 at 12:43 pm to tigeraddict
quote:
We won’t see another surplus or balanced budget in our lifetimes.
Because we are addicted to growth, and growth comes from borrowing.
Its a death spiral. Politicians need growth, so they spend more money than they take in to grow the economy.
Posted on 7/20/24 at 12:43 pm to Privateer 2007
GDP growth is in the 0-3% range. There is no way we can grow our way out of the problem.
Posted on 7/20/24 at 12:43 pm to SlowFlowPro
Posted on 7/20/24 at 12:44 pm to SlowFlowPro
quote:
Will we see any balanced budgets/surpluses under Trump's next admin?
Not a chance
Posted on 7/20/24 at 12:44 pm to SlowFlowPro
quote:
We're discussing adding about $7T to our GDP in 4 years. You're claiming that won't lead to inflation (assuming no major population growth)?
You replied to a comment that clearly related to a production boom in America. You inaccurately and ignorantly claimed THAT would cause massive inflation. Don’t backtrack or try to lawyer your way out of it. Just admit you are trying to be contrarian and dropped the ball THEN move on to the better argument you should’ve used first (That it’s highly unlikely we have the level of productivity boom to solely be responsible for a balanced budget without corresponding cuts to government)
This post was edited on 7/20/24 at 12:45 pm
Posted on 7/20/24 at 12:44 pm to therick711
quote:
You can't have a surplus if you are trillions in debt.
Deficit and Debt are 2 different things.
quote:
and the answer is no he won't unless every single member of congress is replaced with candidates who care about reducing the debt.
Trump's own plan doesn't care about reducing the debt
Posted on 7/20/24 at 12:46 pm to SlowFlowPro
Which is why I said he won't unless congress universally is filled with reps who do care about that. The house can pass such a budget in the first instance, the senate can next, they can conference it, and override any veto threat. You should brush up on your civics.
Also, deficit and debt are the exact same thing in terms of government. Don't be such a contrarian troll that it makes you an idiot too.
Also, deficit and debt are the exact same thing in terms of government. Don't be such a contrarian troll that it makes you an idiot too.
This post was edited on 7/20/24 at 12:53 pm
Posted on 7/20/24 at 12:46 pm to joshnorris14
quote:
You replied to a comment that clearly related to a production boom in America. You inaccurately and ignorantly claimed THAT would cause massive inflation.
Again, for our GDP to grow enough to balance the 2023 deficit, it will have to grow about $7T (per Hauer's law). In 4 years.
I ask again: how will that GDP increase not cause inflation?
Posted on 7/20/24 at 12:47 pm to SlowFlowPro
You are such an a-hole
Posted on 7/20/24 at 12:47 pm to SlowFlowPro
In order just to get back to debt at 100% of GDP you'll need growth in excess of 10% annually along with real spending freezes in real amounts ALONG with entitlement cuts to SS and Medicare.
Americans are not getting younger and that is a major problem neither side wants to talk about in depth.
But, when Congress sees more money they think about goodies to dole out.
Americans are not getting younger and that is a major problem neither side wants to talk about in depth.
But, when Congress sees more money they think about goodies to dole out.
Posted on 7/20/24 at 12:47 pm to therick711
quote:
The house can pass such a budget in the first instance, the senate can next, they can conference it, and override any veto threat. You should brush up on your civics.
We are discussing Trump's admin and his platform
Posted on 7/20/24 at 12:47 pm to joshnorris14
quote:
You are such an a-hole
I'm sorry you refuse to answer a simple question.
Posted on 7/20/24 at 12:49 pm to therick711
quote:
Take your 90s propaganda out of here
Posted on 7/20/24 at 12:49 pm to SlowFlowPro
Let's hope he makes all Americans extremely aware of the Public Employee Pension Debt and how important it is to go after that 1st and foremost.
Posted on 7/20/24 at 12:50 pm to SlowFlowPro
I answered your irrelevant question with the rest of my response that you didn’t quote. Either you
A) Didn’t read it
B) Read it and don’t care.
Either way, your hubris won’t allow you to say “I was wrong when I said growth (in general) will lead to massive inflation”.
That’s both sad and frustrating. But mostly pitiful
A) Didn’t read it
B) Read it and don’t care.
Either way, your hubris won’t allow you to say “I was wrong when I said growth (in general) will lead to massive inflation”.
That’s both sad and frustrating. But mostly pitiful
This post was edited on 7/20/24 at 12:51 pm
Posted on 7/20/24 at 12:50 pm to therick711
quote:
Also, deficit and debt are the exact same thing in terms of government.
No. Deficits are annual. Debt is accumulated.
My thread references budgets, which means deficits.
We aren't flipping that debt in my lifetime. Certainly it can't be done in a 4-year Trump admin.
Posted on 7/20/24 at 12:50 pm to SlowFlowPro
Except the president doesn't set the budget. So your premise is stupid. Beyond that, it's clear he won't demand such a budget/CR. Why did you start this thread? We get it, there isn't a fiscally responsible candidate or congress.
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