US Govt to borrow 84% more in 18 than 17
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US Govt to borrow 84% more in 18 than 17
Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
https://www.washingtonpost.com/news/won ... 5808fbfc2d
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Re: US Govt to borrow 84% more in 18 than 17
Bless your heart
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Re: US Govt to borrow 84% more in 18 than 17
fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Deficits are cool now. But, don't worry, they'll go away once the economy boom makes up for the lower tax rates.
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Re: US Govt to borrow 84% more in 18 than 17
So NOW deficits are an issue. Got it.fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
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Re: US Govt to borrow 84% more in 18 than 17
LOL! Obama added $10T to the national debt over 8 years and not a peep from you. Now you're suddenly a fiscal hawk? You're not fooling anyone.fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
“Those who can make you believe absurdities can make you commit atrocities.” ― Voltaire (1694 – 1778)
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Re: US Govt to borrow 84% more in 18 than 17
Several thoughts...fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
1- you’re right to be concerned about borrowing, finally.
2- as a liberal, you’ve abdicated any & all privilege to whine about debt. Ever.
3- Reagan’s deficit spending saved us a TON of money by ending the Cold War.
4- I’m thinking the growth we are seeing now will create a LOT of government revenue.
5- job growth hasn’t been “crushing it” for 6 years, unless one sees MacServing as a career. President fast food jobs didn’t create any job growth.
6- spending. It is. ALL about government spending run amok.
Good to see you stop by.
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Re: US Govt to borrow 84% more in 18 than 17
So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
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Re: US Govt to borrow 84% more in 18 than 17
Fatman is not a liberalRiverguyVT wrote:Several thoughts...fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
1- you’re right to be concerned about borrowing, finally.
2- as a liberal, you’ve abdicated any & all privilege to whine about debt. Ever.
3- Reagan’s deficit spending saved us a TON of money by ending the Cold War.
4- I’m thinking the growth we are seeing now will create a LOT of government revenue.
5- job growth hasn’t been “crushing it” for 6 years, unless one sees MacServing as a career. President fast food jobs didn’t create any job growth.
6- spending. It is. ALL about government spending run amok.
Good to see you stop by.
No malice, here.
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Re: US Govt to borrow 84% more in 18 than 17
Good one! Though no matter whatever he believes, he's first and foremost a troll.ip_law-hokie wrote:Fatman is not a liberalRiverguyVT wrote:Several thoughts...fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
1- you’re right to be concerned about borrowing, finally.
2- as a liberal, you’ve abdicated any & all privilege to whine about debt. Ever.
3- Reagan’s deficit spending saved us a TON of money by ending the Cold War.
4- I’m thinking the growth we are seeing now will create a LOT of government revenue.
5- job growth hasn’t been “crushing it” for 6 years, unless one sees MacServing as a career. President fast food jobs didn’t create any job growth.
6- spending. It is. ALL about government spending run amok.
Good to see you stop by.
No malice, here.
Sent from my iPhone using Tapatalk
Unvaccinated,. mask free, and still alive.
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Re: US Govt to borrow 84% more in 18 than 17
That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
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Re: US Govt to borrow 84% more in 18 than 17
But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
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Re: US Govt to borrow 84% more in 18 than 17
Not true. Next year, the tax cut revenue loss is $200B+.133743Hokie wrote:But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
And don’t forget, Trump ran on deficit reduction. You sound like your going to use the Obama defense of inherited problems.....
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Re: US Govt to borrow 84% more in 18 than 17
The current budget IS inherited. But the issue is Trump hasn't increased spending thru any policy or action. And the impact of the tax cuts (I and many others disagree w/ your high end $200B figure) on this $436B increase is still limited. Its growth in the ever expanding democrat entitlements of Obamacare and Medicaid.HokieFanDC wrote:Not true. Next year, the tax cut revenue loss is $200B+.133743Hokie wrote:But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
And don’t forget, Trump ran on deficit reduction. You sound like your going to use the Obama defense of inherited problems.....
Re: US Govt to borrow 84% more in 18 than 17
1)You couldn't be more wrong. I've been consistently focused on deficit spending, I'm a big fan of the most fiscally conservative Pres on my lifetime Bill Clinton and his Pay/Go mechanism for controlling the deficit. I think a more accurate statement would be that you ceased to care about the deficit once your party controlled every brach of the Fed Gov't.RiverguyVT wrote:Several thoughts...fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
1- you’re right to be concerned about borrowing, finally.
2- as a liberal, you’ve abdicated any & all privilege to whine about debt. Ever.
3- Reagan’s deficit spending saved us a TON of money by ending the Cold War.
4- I’m thinking the growth we are seeing now will create a LOT of government revenue.
5- job growth hasn’t been “crushing it” for 6 years, unless one sees MacServing as a career. President fast food jobs didn’t create any job growth.
6- spending. It is. ALL about government spending run amok.
Good to see you stop by.
No malice, here.
2) Expressing concern about out of control gov't spending makes one a "liberal" in your book. Pretty telling statement that says alot about your worldview.
3)LOL @ reduction in DoD spending resulting from Reagan's deficit spending. I'm curious when we can expect to see that materialize? Its been 30 years and DoD spending continues to be completely out of control, curious why you believe there was a peace dividend.
4/5)The deficit calcs include the projected increase in Gov't revenue from "growth." I'll repeat, we are 6-7 years into a bull market and job creation stats are on the same trend line they've been on for years.
http://politicalwire.com/wp-content/upl ... 065179.png
I give Trump/Obama equal credit for that, since they both operate on the same trajectory of payroll growth and reduction in unemployment.
6) Couldn't agree more that Gov't spending is out of control. I hate taxes as much as the next guy, but a tax cut without a similar cut in spending = stacking more onto the already massive deficit. Another reason, pay/go was so successful for Fiscal Conservative Bill Clinton. Under Pay/Go, this tax cut would need to be paid for by similar cuts to spending.
Thanks for the kind words. I maintain my steadfast support for balanced budgets and deficit reductions regardless of which fiscally liberal party we have running the show in DC.
Re: US Govt to borrow 84% more in 18 than 17
I suspect the gap is that that you are assuming the revenue shortfall from the tax cuts is ~110B. Where did you get that figure, I don't think it is grounded in reality? The non-partisan wonks say it will be an 86% jump in deficit from the increase in spending and shortfall in revenue collection. Why would obamacare spike so much in 18 from 17?133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Re: US Govt to borrow 84% more in 18 than 17
133743Hokie wrote:So NOW deficits are an issue. Got it.fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Nice deflection, I'm a 3rd party guy who considers the GOP and the DNC(with the exception of Bill Clinton) to be recklessly fiscally liberal. That's me, I'm curious why you feel that deficits were an existential crisis to the US, but now an unfunded tax cut guaranteed to explode the deficits is prudent?
Re: US Govt to borrow 84% more in 18 than 17
I don't think this is complicated if you read the article. Trump is reducing income(tax cuts) without reducing spending, simple math tells you that deficits will increase. It isn't rocket science. This is the equivalent of a failing business that is amassing debt deciding not to increase sales or cut spending, but to go get a few more high interest credit cards.133743Hokie wrote:But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
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Re: US Govt to borrow 84% more in 18 than 17
You keep confusing Newt Gingrich with Bill Clinton. It's great comedy.fatman wrote:133743Hokie wrote:So NOW deficits are an issue. Got it.fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Nice deflection, I'm a 3rd party guy who considers the GOP and the DNC(with the exception of Bill Clinton) to be recklessly fiscally liberal. That's me, I'm curious why you feel that deficits were an existential crisis to the US, but now an unfunded tax cut guaranteed to explode the deficits is prudent?
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Re: US Govt to borrow 84% more in 18 than 17
Growing economy and repatriation are basic math that you're missing, intentionally.fatman wrote:I don't think this is complicated if you read the article. Trump is reducing income(tax cuts) without reducing spending, simple math tells you that deficits will increase. It isn't rocket science. This is the equivalent of a failing business that is amassing debt deciding not to increase sales or cut spending, but to go get a few more high interest credit cards.133743Hokie wrote:But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
Unvaccinated,. mask free, and still alive.
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Re: US Govt to borrow 84% more in 18 than 17
That’s still the Obama defense. Trump said he would cut deficits. He knew what he was getting into. Can you putbyear 1 spending on him? No. But there are no plans in place to reduce spending. Any cuts he made to departments were added to other budgets. And he’s talking about more spending on infrastructure and a wall. He owns his current inaction and any increases.133743Hokie wrote:The current budget IS inherited. But the issue is Trump hasn't increased spending thru any policy or action. And the impact of the tax cuts (I and many others disagree w/ your high end $200B figure) on this $436B increase is still limited. Its growth in the ever expanding democrat entitlements of Obamacare and Medicaid.HokieFanDC wrote:Not true. Next year, the tax cut revenue loss is $200B+.133743Hokie wrote:But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
And don’t forget, Trump ran on deficit reduction. You sound like your going to use the Obama defense of inherited problems.....
Re: US Govt to borrow 84% more in 18 than 17
awesome guy wrote:Growing economy and repatriation are basic math that you're missing, intentionally.fatman wrote:I don't think this is complicated if you read the article. Trump is reducing income(tax cuts) without reducing spending, simple math tells you that deficits will increase. It isn't rocket science. This is the equivalent of a failing business that is amassing debt deciding not to increase sales or cut spending, but to go get a few more high interest credit cards.133743Hokie wrote:But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
Could you please elaborate? The economy has been growing steadily through a record long bull market, believe we are just behind the Clinton bull market for the 2nd longest bull market in history. The gov't budget wonks did include economic growth projections and the corresponding increase on receivables into those deficit calculations, are you concerned they've miscalculated? If so, could you please elaborate about your concerns? Or maybe that's not your style, in which case you could always toss out a diversion or personal insult.awesome guy wrote:Growing economy and repatriation are basic math that you're missing, intentionally.fatman wrote:I don't think this is complicated if you read the article. Trump is reducing income(tax cuts) without reducing spending, simple math tells you that deficits will increase. It isn't rocket science. This is the equivalent of a failing business that is amassing debt deciding not to increase sales or cut spending, but to go get a few more high interest credit cards.133743Hokie wrote:But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
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Re: US Govt to borrow 84% more in 18 than 17
As i stated 10 posts ago, $110B in lost revenue from tax cut doesn't add up to.$436B in deficit growth. So where does the rest come from? Increased interest payments on the ever growing debt (almost $10T over last 8 years) and growth in entitlement spending. It isn't rocket science.fatman wrote:I don't think this is complicated if you read the article. Trump is reducing income(tax cuts) without reducing spending, simple math tells you that deficits will increase. It isn't rocket science. This is the equivalent of a failing business that is amassing debt deciding not to increase sales or cut spending, but to go get a few more high interest credit cards.133743Hokie wrote:But this isn't increased spending driven by any Trump policy. This is existing debt and growth in entitlements.HokieFanDC wrote:That's probably pretty close, although the tax cut lost revenue is somewhat front loaded.133743Hokie wrote:So the Treasury is going to borrow $436B more than last year. Say $110B is due to tax cuts (if I recall the estimate is $1.1T in lost projected revenue over the next 10 years). So what is the additional $326B for? I expect it is growing interest payments on the almost $10T in additional debt accrued over the prior 8 years, and payments for ever expanding social service programs (Obamacare, Medicare, Medicaid, social security, etc.).fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
Interest rates are going up, so that has an impact.
They are estimating that we'll also have to borrow $1T+ in the next 2 years also.
Will be interesting to see how many ppl who criticized Obama's spending will change their tune now.
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Re: US Govt to borrow 84% more in 18 than 17
Wow! Where to begin.fatman wrote:1)You couldn't be more wrong. I've been consistently focused on deficit spending, I'm a big fan of the most fiscally conservative Pres on my lifetime Bill Clinton and his Pay/Go mechanism for controlling the deficit. I think a more accurate statement would be that you ceased to care about the deficit once your party controlled every brach of the Fed Gov't.RiverguyVT wrote:Several thoughts...fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
1- you’re right to be concerned about borrowing, finally.
2- as a liberal, you’ve abdicated any & all privilege to whine about debt. Ever.
3- Reagan’s deficit spending saved us a TON of money by ending the Cold War.
4- I’m thinking the growth we are seeing now will create a LOT of government revenue.
5- job growth hasn’t been “crushing it” for 6 years, unless one sees MacServing as a career. President fast food jobs didn’t create any job growth.
6- spending. It is. ALL about government spending run amok.
Good to see you stop by.
No malice, here.
2) Expressing concern about out of control gov't spending makes one a "liberal" in your book. Pretty telling statement that says alot about your worldview.
3)LOL @ reduction in DoD spending resulting from Reagan's deficit spending. I'm curious when we can expect to see that materialize? Its been 30 years and DoD spending continues to be completely out of control, curious why you believe there was a peace dividend.
4/5)The deficit calcs include the projected increase in Gov't revenue from "growth." I'll repeat, we are 6-7 years into a bull market and job creation stats are on the same trend line they've been on for years.
http://politicalwire.com/wp-content/upl ... 065179.png
I give Trump/Obama equal credit for that, since they both operate on the same trajectory of payroll growth and reduction in unemployment.
6) Couldn't agree more that Gov't spending is out of control. I hate taxes as much as the next guy, but a tax cut without a similar cut in spending = stacking more onto the already massive deficit. Another reason, pay/go was so successful for Fiscal Conservative Bill Clinton. Under Pay/Go, this tax cut would need to be paid for by similar cuts to spending.
Thanks for the kind words. I maintain my steadfast support for balanced budgets and deficit reductions regardless of which fiscally liberal party we have running the show in DC.
Clinton was not a fiscal conservative.
Clinton used the "peace dividend" to gut the military by significantly reducing their spending.
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Re: US Govt to borrow 84% more in 18 than 17
Clinton shutdown the government over Newt's reduction in growth. It's laughable to call him a fiscal conservative. His spending in his first 2 years got the first Republican Congress in like 30 years.133743Hokie wrote:Wow! Where to begin.fatman wrote:1)You couldn't be more wrong. I've been consistently focused on deficit spending, I'm a big fan of the most fiscally conservative Pres on my lifetime Bill Clinton and his Pay/Go mechanism for controlling the deficit. I think a more accurate statement would be that you ceased to care about the deficit once your party controlled every brach of the Fed Gov't.RiverguyVT wrote:Several thoughts...fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
1- you’re right to be concerned about borrowing, finally.
2- as a liberal, you’ve abdicated any & all privilege to whine about debt. Ever.
3- Reagan’s deficit spending saved us a TON of money by ending the Cold War.
4- I’m thinking the growth we are seeing now will create a LOT of government revenue.
5- job growth hasn’t been “crushing it” for 6 years, unless one sees MacServing as a career. President fast food jobs didn’t create any job growth.
6- spending. It is. ALL about government spending run amok.
Good to see you stop by.
No malice, here.
2) Expressing concern about out of control gov't spending makes one a "liberal" in your book. Pretty telling statement that says alot about your worldview.
3)LOL @ reduction in DoD spending resulting from Reagan's deficit spending. I'm curious when we can expect to see that materialize? Its been 30 years and DoD spending continues to be completely out of control, curious why you believe there was a peace dividend.
4/5)The deficit calcs include the projected increase in Gov't revenue from "growth." I'll repeat, we are 6-7 years into a bull market and job creation stats are on the same trend line they've been on for years.
http://politicalwire.com/wp-content/upl ... 065179.png
I give Trump/Obama equal credit for that, since they both operate on the same trajectory of payroll growth and reduction in unemployment.
6) Couldn't agree more that Gov't spending is out of control. I hate taxes as much as the next guy, but a tax cut without a similar cut in spending = stacking more onto the already massive deficit. Another reason, pay/go was so successful for Fiscal Conservative Bill Clinton. Under Pay/Go, this tax cut would need to be paid for by similar cuts to spending.
Thanks for the kind words. I maintain my steadfast support for balanced budgets and deficit reductions regardless of which fiscally liberal party we have running the show in DC.
Clinton was not a fiscal conservative.
Clinton used the "peace dividend" to gut the military by significantly reducing their spending.
Unvaccinated,. mask free, and still alive.
Re: US Govt to borrow 84% more in 18 than 17
Now I’m really confused. I’m responding to a thread explaining that explaining that Reagan’s explosive deficit spending crushed the ussr paving the way for reduced spending on DoD spending later. Are you now saying that Reagan’s deficit spending didn’t pay dividends later on?133743Hokie wrote:Wow! Where to begin.fatman wrote:1)You couldn't be more wrong. I've been consistently focused on deficit spending, I'm a big fan of the most fiscally conservative Pres on my lifetime Bill Clinton and his Pay/Go mechanism for controlling the deficit. I think a more accurate statement would be that you ceased to care about the deficit once your party controlled every brach of the Fed Gov't.RiverguyVT wrote:Several thoughts...fatman wrote:Highest defecits observed in 6 years. This is the largest jump in defecit outside of recession since fiscal liberal Ronald Reagan was president. Job growth and the stock market have been crushing it for 6-7 years now, but concern over the huge upswing in government defecits are a cause for concern. It appears that the US Govt has moved to a much more fiscally liberal philosophy over the past 12 months.
https://www.washingtonpost.com/news/won ... 5808fbfc2d
1- you’re right to be concerned about borrowing, finally.
2- as a liberal, you’ve abdicated any & all privilege to whine about debt. Ever.
3- Reagan’s deficit spending saved us a TON of money by ending the Cold War.
4- I’m thinking the growth we are seeing now will create a LOT of government revenue.
5- job growth hasn’t been “crushing it” for 6 years, unless one sees MacServing as a career. President fast food jobs didn’t create any job growth.
6- spending. It is. ALL about government spending run amok.
Good to see you stop by.
No malice, here.
2) Expressing concern about out of control gov't spending makes one a "liberal" in your book. Pretty telling statement that says alot about your worldview.
3)LOL @ reduction in DoD spending resulting from Reagan's deficit spending. I'm curious when we can expect to see that materialize? Its been 30 years and DoD spending continues to be completely out of control, curious why you believe there was a peace dividend.
4/5)The deficit calcs include the projected increase in Gov't revenue from "growth." I'll repeat, we are 6-7 years into a bull market and job creation stats are on the same trend line they've been on for years.
http://politicalwire.com/wp-content/upl ... 065179.png
I give Trump/Obama equal credit for that, since they both operate on the same trajectory of payroll growth and reduction in unemployment.
6) Couldn't agree more that Gov't spending is out of control. I hate taxes as much as the next guy, but a tax cut without a similar cut in spending = stacking more onto the already massive deficit. Another reason, pay/go was so successful for Fiscal Conservative Bill Clinton. Under Pay/Go, this tax cut would need to be paid for by similar cuts to spending.
Thanks for the kind words. I maintain my steadfast support for balanced budgets and deficit reductions regardless of which fiscally liberal party we have running the show in DC.
Clinton was not a fiscal conservative.
Clinton used the "peace dividend" to gut the military by significantly reducing their spending.
Clinton isn’t a perfect fiscal conservative, but I’d challenge you to name a more fiscally conservative president than him in the past 40 years.