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U.S. budget deficit balloons to $739 billion despite tariff revenue

lurchadams

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U.S. budget deficit balloons to $739 billion despite tariff revenue - Los Angeles Times

The U.S. budget deficit widened to $738.6 billion in the first eight months of the fiscal year, a $206-billion increase from a year earlier, despite a revenue boost from President Trump’s tariffs on imported merchandise.

The shortfall was 38.8% more than a year earlier, the Treasury Department said in its monthly budget review released Wednesday. So far in the fiscal year that began Oct. 1, a revenue increase of 2.3% hasn’t kept pace with a 9.3% rise in spending.

This is what happens when we put our faith and financial future in the hands of a "stable genius".
 
More tariffs then?
 
Without the tariff money, the deficits would have been close to $800 Billion. The average citizen is paying more for goods because of the tariffs. The average citizen will also be the one to repay the debt from the skyrocketing deficit.
I'm sure inequality will be massively solved at least by miracle trickle down economics. We'll all be prepared for that recession in 2020.
 
First off, we ain't gonna repay no debt. We will just keep making those interest payments. Over 10,000 people a DAY now retiring, going on SS and Medicare. Immigrants driving up social service costs. Military always on a big budget.

In the U.S., Tax Freedom Day in 2019 is April 16, for a total average effective tax rate of 29% of the nation's income. The latest that Tax Freedom Day has occurred was May 1 in 2000. In 1900, Tax Freedom Day arrived January 22, for an effective average total tax rate of 5.9 percent of the nation's income.
Tax Freedom Day - Wikipedia

That doesn't even include all the indirect taxes we pay. How much higher should taxes go? To balance the budget they would need to be around 45%.
 
First off, we ain't gonna repay no debt. We will just keep making those interest payments. Over 10,000 people a DAY now retiring, going on SS and Medicare. Immigrants driving up social service costs. Military always on a big budget.


Tax Freedom Day - Wikipedia

That doesn't even include all the indirect taxes we pay. How much higher should taxes go? To balance the budget they would need to be around 45%.

Typical Conservative mantra. Ever since Reagan, they have been driving up deficits. Clinton/Gore showed exactly what needs to happen to balance the budget - cut spending and raise the upper tier tax rate. Their spending cuts were not at the expense of the underprivileged in society.
 
I think perhaps we should give even more tax cuts to the wealthiest Americans and cut the poorest Americans benefits even more.

Clearly what the situation calls for and it is clearly the only way to deal with the situation.
 
Typical Conservative mantra. Ever since Reagan, they have been driving up deficits. Clinton/Gore showed exactly what needs to happen to balance the budget - cut spending and raise the upper tier tax rate. Their spending cuts were not at the expense of the underprivileged in society.

Clinton didn't cut the budget. To his credit, he accepted cuts handed to him by a conservative congress. Last year's congress handed Trump a big spending increase to appease congressional Democrats.
 
Typical Conservative mantra. Ever since Reagan, they have been driving up deficits. Clinton/Gore showed exactly what needs to happen to balance the budget - cut spending and raise the upper tier tax rate. Their spending cuts were not at the expense of the underprivileged in society.

Typical liberals. Who cares about Chinese workers making $5 a day as long as you get your iPhone for cheap?

The tariffs are working. China is headed for a brick wall. They have to negotiate, just like Mexico did. Perhaps we can finally get a fair deal.
 
Without the tariff money, the deficits would have been close to $800 Billion. The average citizen is paying more for goods because of the tariffs. The average citizen will also be the one to repay the debt from the skyrocketing deficit.

Do you have anything to back that up or did you read that in a trump tweet?
 
So, I pay more for my goods? And, I shoulder a larger debt burden? Where the hell's the winning, here?
 
I think perhaps we should give even more tax cuts to the wealthiest Americans and cut the poorest Americans benefits even more.

Clearly what the situation calls for and it is clearly the only way to deal with the situation.

And we need ten more aircraft carriers!!!
 
Typical liberals. Who cares about Chinese workers making $5 a day as long as you get your iPhone for cheap?

The tariffs are working. China is headed for a brick wall. They have to negotiate, just like Mexico did. Perhaps we can finally get a fair deal.

I have never seen the details of a proposed China deal. I have asked on these forums, and nobody seems to know. Finally somebody knows - please provide the details of the Trump deal.
 
Clinton didn't cut the budget. To his credit, he accepted cuts handed to him by a conservative congress. Last year's congress handed Trump a big spending increase to appease congressional Democrats.

Agreed - he worked in a non-partisan way, with a Conservative Congress. He also raised top-tier taxation.
 
Do you have anything to back that up or did you read that in a trump tweet?

I've read a lot about increased cost of goods. Here's a good link...

Trump'''s 25% China tariff: How much would it raise the price of sneakers? — Quartz

Despite Trump’s insistence that China will pay the costs of the higher US tariffs, that’s not how tariffs work. The companies importing their goods from China are the ones who pay the duties. They can either absorb the costs and take a hit to their earnings, or they can pass the costs on to consumers by raising prices, which is what tends to be the outcome.

Here are current costs for a typical pair of sneakers, boots, and children’s shoes:

Sneakers Boots Children’s shoes
Landed cost $14.60 $16.18 $4.25
Current duty rate 14.10% 37.50% 9.52%
Duty $2.06 $6.07 $0.40
Final import price $16.06 $22.25 $4.65
Standard retail markup 3x 3x 3x
Final retail $48.18 $66.74 $13.96
And here are the costs with an additional 25% tariff:

Sneakers Boots Children’s shoes
Landed cost $14.60 $16.18 $4.25
Current duty rate 14.10% 37.50% 9.52%
Duty $2.06 $6.07 $0.40
Additional duty 25% 25% 25%
Duty $5.71 $10.11 $1.87
Final import price $20.31 $32.36 $6.12
Standard retail markup 3x 3x 3x
Final retail $60.93 $97.08 $18.36


But Trump wants US citizens to buy American...

trump-buy-american.jpg
 
And we need ten more aircraft carriers!!!

Spending 10x as much as other countries on defense is fashionable. I can't blame only Republicans for this, as the Dems typically go along with it. If they don't, they'll be attacked, and lose their next election.
 
We will never pay off the national debt, nor is there a need to do so. The issue is economic growth, and debt as a percentage of GDP. We should be stimulating domestic investment, increasing trade, and encouraging immigration, and more. This concept escapes the rabble.

TRUMP doesn’t listen to the consensus of economists. But, hey, bring back those fantastic factory worker jobs screwing on the same bolts day after day.
 
We will never pay off the national debt, nor is there a need to do so. The issue is economic growth, and debt as a percentage of GDP. We should be stimulating domestic investment, increasing trade, and encouraging immigration, and more. This concept escapes the rabble.

TRUMP doesn’t listen to the consensus of economists. But, hey, bring back those fantastic factory worker jobs screwing on the same bolts day after day.

You do realize that much of our deficit is due to the interest on the debt, don't you? You really believe that's sustainable? Funny, how it was such an issue to FOX News three years ago. Now they hardly mention it...
 
I've read a lot about increased cost of goods. Here's a good link...

Trump'''s 25% China tariff: How much would it raise the price of sneakers? — Quartz

Despite Trump’s insistence that China will pay the costs of the higher US tariffs, that’s not how tariffs work. The companies importing their goods from China are the ones who pay the duties. They can either absorb the costs and take a hit to their earnings, or they can pass the costs on to consumers by raising prices, which is what tends to be the outcome.

Here are current costs for a typical pair of sneakers, boots, and children’s shoes:

Sneakers Boots Children’s shoes
Landed cost $14.60 $16.18 $4.25
Current duty rate 14.10% 37.50% 9.52%
Duty $2.06 $6.07 $0.40
Final import price $16.06 $22.25 $4.65
Standard retail markup 3x 3x 3x
Final retail $48.18 $66.74 $13.96
And here are the costs with an additional 25% tariff:

Sneakers Boots Children’s shoes
Landed cost $14.60 $16.18 $4.25
Current duty rate 14.10% 37.50% 9.52%
Duty $2.06 $6.07 $0.40
Additional duty 25% 25% 25%
Duty $5.71 $10.11 $1.87
Final import price $20.31 $32.36 $6.12
Standard retail markup 3x 3x 3x
Final retail $60.93 $97.08 $18.36


But Trump wants US citizens to buy American...

View attachment 67258117

Are you really naive enough to believe the simplistic math in the article? Did you know that a fair amount of foot ware production has already moved to Vietnam? Does the article factor in negotiating prices in China or currency moves? Do you think that retailers fighting to stay alive will simply accept a 25% increase in cost and be able to pass it along to consumers. Not likely.

Not in love withe tariffs but that doesn't mean we have to accept bogus numbers.
 
I'm sure inequality will be massively solved at least by miracle trickle down economics. We'll all be prepared for that recession in 2020.

Defecits only matter to the Right when they can bash a Dem President. The last 20 years proves this too be a fact. Suck it up Righties, your just as bad as Dems when it comes to debt, the cat is well and truly out of the bag.
 
The actual amount of debt is not a problem as long as paying the interest on it is not a problem. There's a curious quirk here. National debt can be reduced, in 'real' dollars, through devaluation, otherwise known as inflation. The debt and/or its interest, reckoned in 'absolute' dollars, is paid back with 'cheaper' dollars. That's all well and good, excepting that inflation also raises the interest rate, which can make paying the interest more difficult.

There is, I should think, a point where further inflation will make a debt unsustainable.

Comments?
 
U.S. budget deficit balloons to $739 billion despite tariff revenue - Los Angeles Times

This is what happens when we put our faith and financial future in the hands of a "stable genius".

People turned from the truth of God's Principles... and became led by a "money worshiper"... who values nothing and no one above the pursuit of money by any means.
People stand behind the vile of a man and party that seeks nothing but contentions and attack something mentality, and spins it on a daily basis... Generating conflict on a Global Level. There is no profit in the denigration of God's Principles, and there is no winning when people have turned themselves to follow the acts and speak of a known liar, and a life long swindler. There is not uplift when people follow one who not only has corrupted his own family, but corrupted the systems of a nation, violated its laws and has no respect for its policies. There is no honor within a segment that claims themselves to be followers of Christ Principles, yet promote, support and endorse, bigotry, bias and chase greed with whole heart and mind, there is not unity building when those who claim themselves to be workers for Gods Truth, and label themselves as Evangelist of Gods words.. while they endorse and sit silent when malice is spread by the hour upon and against a nation of people and the values its system of liberty was founded.

The Financial Woes, are but and outgrowth of what 'evilness making madness brings'. The sharp turn that follows the fictions of a stock ticker, being wound up by "greed mongers"... pushing illusion of fake value that is based on nothing but the likes of a "crap shoot"... driven by the whims of Greed. It has no conscience that aspires to truth, and certainly no value that has concern nor consideration for Gods words and stands firm against ever commandment that has been given to mankind.

A monger of war making, chasing means to promote the contempt's that speak and aim toward war. Creating a war in the Trade Among Nations, Creating a War against the principles of Diplomacy, Creating a War Against Allies and Systems that bond and bind Allies into a uniform supporter of values.

When such evil moves across the land, the desecration become widespread, the anguish becomes to fill the daily lives even among the childern, because the spirit of such is promoted by the minute; people become restless and lose the sense of empowerment, and acts of vile and violence increases even in the homes among husband and wife and parents and children.

We see it and for some by many means they seek to deny what is overtly visible in the vividness of murders and mayhem, madness of attacks and assaults, and the rise and spread of those who have no regard for the respect of others, and stand with an evil madness driving them to attack the diversity of society.

This is what is being seen by the days... and many still cling to the "madness makers" with a vain hope of monetary gain, at the expense of civic destruction and civil discord... That is the ways of what is evil... consumes a society. Money worship is made to be the decision makers of masses, and in so being and so doing does vile spread like a wildfire... and people then support the lawbreaker, who has attacked justice, and violates with disregard the systems that support and promote justice.

Time continues to show, it is not by the act of attack and denigrate that moves us into the values of God's principles.... yet, many who have lost the soul into the devotion to money and the madness engaged to pursue it... are those who make vile in the world, that no money can mend.

Tariff's will bring an "inflation" that will become astronomical in what it leaves upon the this nation... and those nations of which this nation seeks to fleece by the imposition of tariffs will prosper even still, beyond the vile that has been cast and enacted against them. America under this Administration and This Senate that endorse it will continue to damage centuries of gain, which no longer exist, as this nation has by the malice of some, embedded itself in $22 Trillion of Debt and Deficits that it has no means to lift itself above. This Administration and this Senate that endorse it and the conduct of its Attacks and Acts of Evil Making will not make it go away.

Facts tell the truths that many blind themselves by their delusions of following a ticker, that moves by the acts of mans greed, not by the production and performance of the works and man in and through industry... but by the "spin at the roulette" gaming of a stock ticker.
 
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People choose to be blind to what is Evil and think their lust for material gain will wipe away what evil has promoted... will get the devastation they seek and don't know they are seeking with their heart and soul... and it will come upon them like a downpour of a storm, with the forces of a tornado, and the hail will leave damages in all that is not swept up in the floods and winds ... Yet.. they cannot find means to let go of the bigotry, the bias, the segregationist madness and the worship of money by any means at any expense. They shall get what they seek!!!! which is nothing more than a lust for more while they find themselves with less and less... because what they chase is the circle and cycle of their own vanity.

We are living in the Era of The Last Stand of the Autocrat's and The Last Game of the Plutocrats.... Some are blind and unaware of the ravages that such a "Savage" Ideology that is the basis of Autocracy and Plutocracy.... It has created for generations, bias, bigotry and vile that has shown itself from the acts of Savage Slaughter, Slavery, Segregationist Madness, Greed by Any Means, and Bastardization of Religion for the sake of promoting the likes of Savage Slaughter, Slavery, Segregationist Madness, Greed by Any Means.

We are in a time facing what the acts of such Savagery will engage in the quest of its desperation to hold on and maintain such a system of vile.... Truth and fact is the malice of such greed and savagery, not only cannot maintain that which it covets, nor can it build for the people anything that promotes the lives of civic and civil cooperation's, and its cannot promote harmony while it chases and promotes divisiveness... Thus so... a house such divided, cannot stand.

We will see the collapse of much, before many awaken, and the inflation and destitution will spread before the awakening comes that our salvation is and will only be by and through a new-found embrace of Truth... and honor of the values that Gods has spoken to man in the many words of the books that tells of all such things.

If people open their eyes, they can see the game of delusions and the havoc it creates, it claims people have employment in high number, but by the ravages of a system led by greed mongers, people are led to work, but not compensated in ways that enable them to sustain, and maintain a standard of living, in a world where technology should by every means have made available to improve the conditions for all peoples lives... Instead, we see homelessness spread and deterioration of everything from the demise of industry, to the crumbling of infrastructure, while we watch with vain blindness as some continue to support the desecration of the systems of this nation, that once built up many things. It crumbles in the same comparison as the vile it is being led to invoke, by the attack mentality and promotions of divisiveness that denigrate the systems, the governance and the laws of the land.

Such truths is frightening, and many will deny much.. but those who stand for the restoration of conduct that promotes civility, and the stand to support the systems and institution that make up the civic society... and believe in the principles of Gods truth for the civility and society of mankind... is all that will save this nation and bring it back to a sense of decency and civility, and value of its laws and honor of the truth of what principles of Gods truth has long established for mankind.
 
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The actual amount of debt is not a problem as long as paying the interest on it is not a problem. There's a curious quirk here. National debt can be reduced, in 'real' dollars, through devaluation, otherwise known as inflation. The debt and/or its interest, reckoned in 'absolute' dollars, is paid back with 'cheaper' dollars. That's all well and good, excepting that inflation also raises the interest rate, which can make paying the interest more difficult.

There is, I should think, a point where further inflation will make a debt unsustainable.

Comments?

The "devaluation" will make a destitution greater than the ability to rectify.

People should look at the reality of the ravages of Inflation... and learn..

EXAMPLE:
Inflation in Venezuela is projected to reach 10,000,000% next year, as the economy collapses and the government grows increasingly authoritarian.

Authoritarian process is a death maker to liberty, and destruction of the industrious mentality and actuality of a societal system [/quote]

Authoritarianism showed the examples of its destruction decades ago, and yet, we have fools and mad men, who follow the dictates of a greed driven authoritarian, as all indicators tell of the down fall it invokes, the havoc in general society and the dissension it promotes... while it acts to engage in incessant attacks.. all in trying to promote the authoritarian mentality upon, over and against society and other nations.

Authoritarianism is a form of Savage Mentality, that can only promote and invoke the elements that make up what is Savage Devastation, by the acts of Savagery.


Americans allowed a "SAVAGE" to occupy the seat of its Presidency... in the current Administration and Savage Supporters to dominate within our Senate... Civility... is not a component of concern for "Savages"... and by now, people should have come to be awakened to that fact!!!!

Sadly.. People don't care to believe the truths they see unfolding... while they place their worship in a man, who is obsessed by money and power, while they themselves lust for money above all else. They become blind and unaware... as they march with support toward their own destruction and destitution !!!
 
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Future Generations will look back upon "Republicanism" and ask and wonder how did a nation of so many allow such madness as "Republicanism" to prevail in the areas of a nations leadership.

The cycles of history has seen nothing but continual spins of desecration and demise, debt and as times comes, default.. by the hands and minds of "Republicanism" as it engulfs the nation... into hardships, turmoil... unrest and discontent... while it promotes bias, bigotry, divisiveness and acts and aims to promote the ravages of authoritarianism and plutocratic agenda. This is the making of what vainity, arrogance of vain pride and the consumption in Avarice driven by a lust for money....

This has been the downfall of many nations, long before the rise of this nation... and still ... we have not learned!!!! of the damages and vile that the ravages of authoritarianism and plutocratic agenda invokes...

RUN, HIDE, DENY AND LIE.... as it is certain, the truths of such vile will not vanish.....

It is only when those who embrace the values of Gods principles... stand and rise and promote the unity building values that makes for civil and civic society, only then will the nation regain an ability to prosper for the benefits of the people and the nation.
 
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