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Budget Deficit Jumps Nearly 17% in 2018

Fletch said:
Explain why Obamas final year $666 billion deficit is good by Trumps $779 billion deficit is bad.
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Because I feel that you may be one of the last conservatives on this site who I can try to reach, you forced me. Do you even give a damn about your personal request or is this yet another bout of partisan obtuse ignorance? Since you may apparently need something as simple as this to be explained to you, allow me to do it in simple bullet form, which is the simplest way I believe that I can reduce myself...

- It was Ronald Wilson Reagan (Republican) who became famous for reducing taxes while blowing up the debt, causing George H. W. Bush (Republican) to have to raise taxes, thereby greatly aiding to his loss in his 1992 re-election campaign to William Jefferson Clinton (Democrat).

- It was a Democrat (William Jefferson Clinton), who actually balanced the federal budget and erased the federal deficit in the 1990s.

- It was George Walker Bush, the son of George H. W. Bush, who had no real agenda to disrupt Clinton's theme of fiscal responsibility (while being dismissive of Clinton's international policy towards terrorism), who went on to blow the roof off of the debt ceiling after 9/11. <--- Much is to be understood here, which will undoubtedly prove too difficult for plenty to understand if I even tried.

- It was Barack Hussein Obama II who, not only inherited the poorly named "War on Terrorism" in 2008 but also, inherited the massive debt that was Republican made. He went on to exacerbate that debt with social agendas, in which American citizen tax dollars are supposed to go towards, but was not conducive to an ongoing "War on Terror," nor an inherited global economic crisis that unhinged-American banks contributed to.

- It was Donald John Trump who, not only celebrated a massive tax-cut for the wealthy, but immediately celebrated a significant increase in government spending (which needs taxes).


So, my point is obviously(?) that when it comes to the idea of a fiscal conservative, we really do need to chalk that up to a Peter Pan tale now. You people will turn around and whine about "liberals" complaining about the current debt, but the absolute fact is that the problem has really been you so-called conservatives who have falsely presented yourselves as the champions of the checkbook. It is not the liberals that owe the population, especially considering that it has been you who have presented yourselves as "fiscally responsible." It is the average conservative liar, who is so fully susceptible to mental manipulation, who owes the American population.

You conservatives have prided yourselves as being fiscally responsible, while denigrating the American "Left," for far too long. It is actually insulting how you all pretend to be what you are absolutely not.


Now, has this been explained for you? Or is this yet another pointless post, of which I have wasted my time?
 
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Tax Cuts and that huge spending bill from March 2018. That should be the source of this. Am I right?
 
MTAtech said:
But it isn't spending, since revenues have dropped in a supposedly booming economy. That drop is the effect due to the tax-cuts. Let's not even talk about the inequality of lowering taxes on the wealthy and corporations. When revenue drops, it must be either made up or spending needs to be cut. However, the vast amount of federal spending is only in five areas: Social Security, Medicare, Medicaid, defense and interest on the debt. Everything else is peanuts. So, if you want tax-cuts, you want smaller government, and you are talking about cutting these five or you have no idea what you are talking about.
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Revenue is up. Spending as a percentage of GDP is down. Both due to tax cuts and strong economy.

It is spending.

We need a constitutional amendment to limit spending to 18% of GDP.

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Erod said:
Look at all the funny liberals acting like they understand finance.
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And you elected a POTUS whose main money making schemes are flimflams designed to scam money from desperate people and drive them deep into credit card debt

$25 million settlement finalized in Trump University lawsuit


or daddy paid his way, and he scammed the government.


NY Times: Trump Got $413M From His Dad, Much From Tax Dodges


I think it's pretty clear who doesn't have a clue about finances, and it's the people Trump loves...

Donald Trump declares 'I love the poorly educated'

...because he can con them into thinking he knows something about finances.
 
Fletch said:
Explain why Obamas final year $666 billion deficit is good by Trumps $779 billion deficit is bad.
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In simple numbers.
During one of the worst economic times our country ever faced in modern times.
Obama 2009 -1.4 trillion
Obama 2010- 1.3 trillion

During one of the best economic times our country ever faced
Trump- 2017- 665 billion
Trump 2018- 779 billion

Obama the worst president ever. Trump the best ever (sarcasm on)
 
Note the deficit might have been 779 billion, the actual debt increased by 1.2 billion.

Before the flack comes

Remember the Clinton surplus's that were not surplus's, same thing here
 
Exactice said:
Im not an educated man..... But I can see the basic economic game.

1) Budget is built around taxes collected? Reduced taxes, mean reduced Revenue? SO YET automatic budge deficit THAT IS EXPECTED its not rocket since.

2) Trade Deals and Adjustments, 1 just went into effect 10/01/2018 the rest are slowly rolling out in 2019 these things take time... its not Vegas where you put $100 on black jack and its win or lose.

3) Lets face it.... Our Budget was BLOATED WELL before Trump got there...... lets not act like its ALL his fault. YET the reduced Taxes are an AUTOMATIC deficit..... I get it... but there seems to be some methods to the madness.

4) We have so MUCH red tape expenses that SURELY could be fixed..... major budget cuts.... but people will cry too.... We CANT have our cake and eat it too...sorry just wont happen.... either we fix it OR let it collapse.... Usually fixing requires some "demo" .....and spending money to make money.....



But I guess we live in dream worlds were money grows on trees.....
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These people simply do not get it.

So lets say i have an item and i make 40% profit on that item. i sell 1000 of that item i make 400 profit on that item.
now lets say i have a sale and now i only make 30% profit. but instead of selling 1000 i sell 5000 due to the lower price. now i make 1500 profit.

that is how tax work as well.

They do not understand that taxes come from economic activity. The more people working the more economic activity that goes on the more
taxes are collected. all the tax rate does is decide how much of that activity the government will take.

https://www.cbo.gov/topics/taxes

the CBO projects taxes of 3.4 trillion dollars or so for 2018.
we will have to wait and see but in 2017 the IRS collected about 3.4 trillion as well.

In 2016 the revenue was 3.2 trillion while expenses were 3.8 billion

in 2017 Revenue was 3.3 trillion (tax cuts took effect) spending was 3.9.

again 1 year should see a tax cut and a small dip in revenue which happened.
that is expected.

tax cuts take time to work their way through the system.

however the fed has reported seeing more revenue this year than last year.
also you have to realize that the 2017 budget was obama's last budget.

the 2018 budget will be trumps first budget.
 
Helix said:
don't worry. the tax cuts will pay for themselves, and then some.

derp
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Cannot help but notice the same people who had no problem with the Obama trillion dollar deficits are now on another anti Trump thread ignoring context. Noticed you have yet to post the Treasury data supporting a claim that FIT cuts reduced revenue and continue to spout the liberal lie that tax cuts have to be paid for. What is it about people like you who refuse to understand the basic accounting principle that people keeping more of what they earn isn't an expense?

What a waste of time it is dealing with radicals who let the leftwing elites make them look and sound foolish.
 
Middle_Ground said:
In simple numbers.
During one of the worst economic times our country ever faced in modern times.
Obama 2009 -1.4 trillion
Obama 2010- 1.3 trillion

During one of the best economic times our country ever faced
Trump- 2017- 665 billion
Trump 2018- 779 billion

Obama the worst president ever. Trump the best ever (sarcasm on)
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Good thing Trump had that "magic wand".

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ludin said:
These people simply do not get it.

So lets say i have an item and i make 40% profit on that item. i sell 1000 of that item i make 400 profit on that item.
now lets say i have a sale and now i only make 30% profit. but instead of selling 1000 i sell 5000 due to the lower price. now i make 1500 profit.

that is how tax work as well.

They do not understand that taxes come from economic activity. The more people working the more economic activity that goes on the more
taxes are collected. all the tax rate does is decide how much of that activity the government will take.

https://www.cbo.gov/topics/taxes

the CBO projects taxes of 3.4 trillion dollars or so for 2018.
we will have to wait and see but in 2017 the IRS collected about 3.4 trillion as well.

In 2016 the revenue was 3.2 trillion while expenses were 3.8 billion

in 2017 Revenue was 3.3 trillion (tax cuts took effect) spending was 3.9.

again 1 year should see a tax cut and a small dip in revenue which happened.
that is expected.

tax cuts take time to work their way through the system.

however the fed has reported seeing more revenue this year than last year.
also you have to realize that the 2017 budget was obama's last budget.

the 2018 budget will be trumps first budget.
Click to expand...

In addition what the left wants to ignore is the FACT that debt service in 2018 was over 520 BILLION dollars, interest on the debt that Trump inherited. in addition mandatory entitlement spending also added to the debt which Trump did not implement but it is easy for the left to ignore that reality and continue to blame Trump and Republicans for debt while ignoring the 2009-2010-2011-2012 Obama trillion dollar deficits. Historically low interest rates are now gone and the current debt is being financed at higher rates which increase debt service.

Since the left now is worried about the deficit I am waiting for the left to tell us what they support cutting?
 
Eriech said:
Good thing Trump had that "magic wand".

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Got it, reducing deficits that were still over a trillion dollars are much, much better than the 665 and 779 deficits while Trump was in office. How about it liberals what was the debt service on those Obama deficits vs. the Trump deficits? Does context ever matter to you?
 
Conservative said:
Cannot help but notice the same people who had no problem with the Obama trillion dollar deficits are now on another anti Trump thread ignoring context. Noticed you have yet to post the Treasury data supporting a claim that FIT cuts reduced revenue and continue to spout the liberal lie that tax cuts have to be paid for. What is it about people like you who refuse to understand the basic accounting principle that people keeping more of what they earn isn't an expense?

What a waste of time it is dealing with radicals who let the leftwing elites make them look and sound foolish.
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The only time there was anything close to Obama was during a financial crisis, and it was a lot of it was due to bills passed in 2008 , signed by Bush. The deficit reduced after that, until the Republicans insisted on tax cuts, or they would shut down the government.
 
RAMOSS said:
The only time there was anything close to Obama was during a financial crisis, and it was a lot of it was due to bills passed in 2008 , signed by Bush. The deficit reduced after that, until the Republicans insisted on tax cuts, or they would shut down the government.
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WRONG, deficits are yearly not cumulative but debt is. How did Obama have trillion dollar deficits in 2009-2010-2011-2012 and what exactly did he do to bring us out of recession? Think the 842 billion dollar stimulus program did that? If that is the case then why isn't that spending put against Obama?

Obama inherited a Democratic Congress that gave him his stimulus almost day one for shovel ready jobs and new taxpayers. That stimulus saw employment go from 142 million down to 138 million in 2009. Did that 4 million drop in employment affect the Federal Income Tax revenue? So how it that Obama is given credit for bringing us out recession but not for the reduction in employment creating loss of revenue and the 842 billion dollar spending stimulus program?

I know that the left, you, MTA and others are going to run from this question but that question remains.
 
Conservative said:
WRONG, deficits are yearly not cumulative but debt is. How did Obama have trillion dollar deficits in 2009-2010-2011-2012 and what exactly did he do to bring us out of recession? Think the 842 billion dollar stimulus program did that? If that is the case then why isn't that spending put against Obama?

Obama inherited a Democratic Congress that gave him his stimulus almost day one for shovel ready jobs and new taxpayers. That stimulus saw employment go from 142 million down to 138 million in 2009. Did that 4 million drop in employment affect the Federal Income Tax revenue? So how it that Obama is given credit for bringing us out recession but not for the reduction in employment creating loss of revenue and the 842 billion dollar spending stimulus program?

I know that the left, you, MTA and others are going to run from this question but that question remains.
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Your comment has nothing to do with what I said. Please, read it again.
 
Conservative said:
In addition what the left wants to ignore is the FACT that debt service in 2018 was over 520 BILLION dollars, interest on the debt that Trump inherited. in addition mandatory entitlement spending also added to the debt which Trump did not implement but it is easy for the left to ignore that reality and continue to blame Trump and Republicans for debt while ignoring the 2009-2010-2011-2012 Obama trillion dollar deficits. Historically low interest rates are now gone and the current debt is being financed at higher rates which increase debt service.

Since the left now is worried about the deficit I am waiting for the left to tell us what they support cutting?
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they never cut anything.
it is always tax more tax more.

that is their motto.
punish working families with higher taxes.
 
Eriech said:
Help me out here. Tax cuts went into effect at the beginning of the year 1 quarter into fiscal 18. Three quarters in, corporations have made quarterly payments based on ESTIMATES based on previous earnings. Undoubtedly there is a lot to shake out. Premature to blame corporate tax cuts. Imo corporate rate should be 0

Finally got my 2017 taxes done today. Yeah!

Spending bills start in the House. DOA in the Senate without 60 votes.

It is spending stupid.

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I let your ad hom slide being that I think you were going with the James Carville sense of it and not personally directed. Its part spending in that the defense budget ballooned on top of tax cuts for corporations on top of tax cuts for rich that pull the money out of the economy. We are merely seeing the results of the same GOP economy that they have implemented since reagan. And trickle down is blowing up again.
 
I find it amusing that when the GOP has the White House their chant is "Tax cuts! Tax cuts!" (which lead to higher deficits). When a Democrat is in the White House the GOP is all about "OMG! The deficit! The deficit!"

So the GOP got their tax cuts this year, and if you dare bring up the corresponding deficit, they hold a knife to to the throat of Medicare and Social Security and say "Do you want me to cut? Do you? Then STFU about deficits, bitch!"
 
poweRob said:
Time for the Dick Cheney lovers to drop in and use his line that only applies when Republicans are in charge... "DEFICITS DON'T MATTER!!!!!!" But that's all they talk about when Dems are running the show.

Budget Deficit Jumps Nearly 17% in 2018

The federal budget deficit swelled to $779 billion in fiscal year 2018, the Treasury Department said on Monday, driven in large part by a sharp decline in corporate tax revenues after the Trump tax cuts took effect.

The big revenue drop came on the business side. Corporate tax revenues have fallen by a third from a comparable period a year ago, a direct consequence of the tax law signed last year, which reduced the top corporate rate to 21 percent from 35 percent. For the full 2018 fiscal year, corporate tax receipts were nearly $205 billion. That figure is a drop from $297 billion in fiscal year 2017.​
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Thanks for posting. Republicans need to see this. Fox News no longer reports on the deficit. Skyrocketing deficits are typical of Republican policy nowadays. I will repeat that. Skyrocketing deficits are typical of Republican policy nowadays. One need only analyze a deficit time chart to realize that, since 1980, deficits have been driven up, under Republican presidents, and reduced under Democratic presidents. This is fact. Anybody who disagrees is in denial.

US_federaldeficit.png
 
Fletch said:
Explain why Obamas final year $666 billion deficit is good by Trumps $779 billion deficit is bad.
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Explain why Trumps $779 billion deficit is good and Obama's final year $666 billion is bad.
 
Stealers Wheel said:
I find it amusing that when the GOP has the White House their chant is "Tax cuts! Tax cuts!" (which lead to higher deficits). When a Democrat is in the White House the GOP is all about "OMG! The deficit! The deficit!"

So the GOP got their tax cuts this year, and if you dare bring up the corresponding deficit, they hold a knife to to the throat of Medicare and Social Security and say "Do you want me to cut? Do you? Then STFU about deficits, bitch!"
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Starve the beast. That's all they do. They need to privatize everything because they have campaign donors to appease such kickbacks to.
 
RAMOSS said:
Your comment has nothing to do with what I said. Please, read it again.
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My post was in response to yours in Post 38 and it is exactly on point. Blaming the 2009 and beyond deficit on bills in 2008 is simply not true and revisionist history. Budgets are yearly not cumulative and spending bills for one year are not the same as the next. I am waiting for exactly why Bush is responsible for the 2009 deficit without a budget approved thus no spending authority, and where did the repayment of 450 BILLION in TARP loans go?
 
ludin said:
they never cut anything.
it is always tax more tax more.

that is their motto.
punish working families with higher taxes.
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Exactly and it is amazing how raising taxes on the rich is going to solve all the problems they believe exist and will fund their liberal spending appetite.
 
Media_Truth said:
Thanks for posting. Republicans need to see this. Fox News no longer reports on the deficit. Skyrocketing deficits are typical of Republican policy nowadays. I will repeat that. Skyrocketing deficits are typical of Republican policy nowadays. One need only analyze a deficit time chart to realize that, since 1980, deficits have been driven up, under Republican presidents, and reduced under Democratic presidents. This is fact. Anybody who disagrees is in denial.

View attachment 67242247
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You simply do not get it, Deficits create debt and regardless of a deficit being reduced it still adds to the debt. Giving Obama credit for reducing deficits ignores the 9.3 TRILLION he added to the debt, had the deficits not been reduced yes the debt would have been higher than 9.3 trillion which is still more debt than Reagan, GHW and GW Bush combined in 20 years

Why is this so hard for you to understand?
 
poweRob said:
I let your ad hom slide being that I think you were going with the James Carville sense of it and not personally directed. Its part spending in that the defense budget ballooned on top of tax cuts for corporations on top of tax cuts for rich that pull the money out of the economy. We are merely seeing the results of the same GOP economy that they have implemented since reagan. And trickle down is blowing up again.
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Yes, no way directed at you. Referenced Mary Matalin's husband's sense of the big issue in 1992. Glad you took it as intended. Civil debate is important to me.....I need to be more careful.
Defense is a constitutional responsibility and appropriate expenditure . Obama's failed trillion dollar stimulus was neither and example of trickle down not working. In the case of Obama and Carter budget that should have gone to defense was redirected.
Reagan's economic boom lasted 25 years as will Trump's.

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