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re: Will we see any balanced budgets/surpluses under Trump's next admin?
Posted on 7/20/24 at 10:08 pm to zeebo
Posted on 7/20/24 at 10:08 pm to zeebo
quote:
Growing economy cures all.
When you need 50-100 billion, ok.
When your annual deficit is north of a trillion, ain’t happening
Trump doesn’t seem likely to cut the budget and he sure isn’t raising taxes.
0
Posted on 7/20/24 at 10:14 pm to SlowFlowPro
All he can do, is cut tax rates, and take other growth measures that will increase tax receipts. It’s about growing your way out, not saving your way out. And even then it’s not highly likely that the federal deficit will be affected in any significant way. People love their unfunded liabilities and that’s not going to change. So no austerity measures. Only growth measures.
Posted on 7/20/24 at 10:15 pm to Taxing Authority
quote:
What do you cut? Total discretionary spending is about 26% of the budget. And a big chunk of that goes toward healthcare and veterans benefits that no one wants to cut.
Everything. I don't think it's time for a surgical strike. We need to carpet bomb the show.
quote:
Thsts 2022, I think in 2023 and beyond cutting discretionary to $0 still won’t balance the budget.
I understand. We'll never balance the budget in a single year. It would take multiple years.
Posted on 7/20/24 at 10:18 pm to SlowFlowPro
You are leading the witness juuuust a little don't you think ? lol
Seems really far down Americans list at the moment.
quote:
I don't see how we don't continue the annual increase in deficit/debt.
Seems really far down Americans list at the moment.
Posted on 7/20/24 at 10:30 pm to SlowFlowPro
One idea that someone floated was an increase in foreign tariffs.
If we import goods, the increase in taxes goes into the treasury. Now the high import costs could spur on local manufacturing and increase tax growth accordingly in the economy.
Another thing is loosening up the Fed funds rate. If we cut the rates back down to near 0 again that would lower debt cost. But you are risking over stimulating the economy and causing inflation.
If we import goods, the increase in taxes goes into the treasury. Now the high import costs could spur on local manufacturing and increase tax growth accordingly in the economy.
Another thing is loosening up the Fed funds rate. If we cut the rates back down to near 0 again that would lower debt cost. But you are risking over stimulating the economy and causing inflation.
This post was edited on 7/20/24 at 10:33 pm
Posted on 7/20/24 at 10:46 pm to SlowFlowPro
Spending will not change no matter who wins. Ever.
Spending, deficits and debt will continue to increase. Biden, Trump, it doesn't matter.
Congress will never stop spending more money until something breaks or collapses. Never ever ever. It's dumb to even discuss as part of a campaign. It's reality.
If Trump can get some decent judges appointed and maybe flip a Supreme Court seat and protect a conservative seat that may retire like Thomas or Alito it will be a successful term.
Spending cuts? LOL no
Spending, deficits and debt will continue to increase. Biden, Trump, it doesn't matter.
Congress will never stop spending more money until something breaks or collapses. Never ever ever. It's dumb to even discuss as part of a campaign. It's reality.
If Trump can get some decent judges appointed and maybe flip a Supreme Court seat and protect a conservative seat that may retire like Thomas or Alito it will be a successful term.
Spending cuts? LOL no
Posted on 7/21/24 at 5:31 am to Tiger985
quote:
Spending will not change no matter who wins. Ever.
I am sure the people of Argentina thought the same before Milei.
Posted on 7/21/24 at 5:41 am to frogtown
quote:
I am sure the people of Argentina thought the same before Milei
Both politics and government are a worlds different between Argentina and the US. What he's done there isn't possible here.
Posted on 7/21/24 at 6:10 am to TigerFanatic99
quote:
Both politics and government are a worlds different between Argentina and the US.
Doesn't matter. Eventually we will be forced to make cuts. The status quo can't continue.
This post was edited on 7/21/24 at 6:12 am
Posted on 7/21/24 at 6:13 am to TigerFanatic99
quote:
What he's done there isn't possible here.
While true, the alternative is a crash.
Posted on 7/21/24 at 8:17 am to Taxing Authority
Years ago, at least 20. People were bitching to Tom Delay , the Republican Whip, about cuts and that there should be more and he said, OK, where else do you want to cut. I'M open to everything. He mentioned entitlements....he challenged Republicans.
All he got was crickets.
All he got was crickets.
Posted on 7/21/24 at 8:24 am to Lsupimp
At 100% + of GDP, an ever aging population and birthrate barely hitting replacement rate, just merely saying that you can grow out of it is something of a fantasy.....even with tariffs.
Posted on 7/21/24 at 8:59 am to SlowFlowPro
We will have balanced budgets guaranteed or Slow Flow Pro isn’t a Conservative Republican.
Posted on 7/21/24 at 9:00 am to KiwiHead
the only thing that will work is devaluing USD and establishing bitcoin as the reserve currency.
I’m only kinda joking
I’m only kinda joking
Posted on 7/21/24 at 9:12 am to KiwiHead
Yeah it’s a math problem. I think my post made my skepticism clear. But there is never a time where economic growth is bad.
Posted on 7/21/24 at 9:34 am to tigahlovah
quote:
Your dumbass voted for barak Osama, you voted for billary and Broadway joe.
0/3
Posted on 7/21/24 at 9:37 am to goatmilker
quote:
Seems really far down Americans list at the moment.
I don't know how it isn't top 3. Probably should be #1.
Our deficit/debt is a much bigger deal than, say, trannies or DEI
Posted on 7/21/24 at 9:39 am to Tarps99
quote:
One idea that someone floated was an increase in foreign tariffs.
Not NEARLY enough to matter, and tariffs are going to butt frick our domestic economy, regardless.
quote:
If we import goods, the increase in taxes goes into the treasury
And the increased cost to consumers is taken from the rest of the economy.
quote:
Now the high import costs could spur on local manufacturing and increase tax growth accordingly in the economy.
While our more high-margin areas of our economy decrease, and we lose even more tax growth.
Posted on 7/21/24 at 9:40 am to Tiger985
quote:
Congress will never stop spending more money
Why are y'all trying to separate Congress from Trump?
Look at his Presidential platform. It appears that Trump will never stop spending more money, either.
Posted on 7/21/24 at 9:52 am to adamau
quote:
Our bloated bureaucracy is completely addicted to spending at all levels and I don't think that is going change until it implodes under its own weight. When that actually happens is the $50,000 question.
This.
Prepare as best as you can NOW.
Physical gold, silver, real estate, etc.
Historically this has always been the best bet.
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