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US budget deficit running 11.8% higher this year

mrjurrs said:
Do you see significantly higher inflation rates or unemployment numbers? The Fed is doing their job.
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I see significantly higher interest rates, which does not help unemployment numbers. Nor do I see the threat of inflation. I will not say that they are not doing their job, but they are not helping control the deficit either.

mrjurrs said:
Uhhh, no he didn't.
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Yes he did. Since it appears you cannot follow, I will spell it out.

The chart is year-over-year, so the amounts add together if you want to consider multiple years. 2017 was close to $20 Billion increase on 2016. 2018 was over $60 Billion increase on 2017, which makes over $80 compared to 2016. 2019 is about $55 Billion + $60 Billion + $20 Billion = $135 Billion. This amply proves the offered figure of "over $120 Billion". QED
 
Kushinator said:
There's no such thing as discretionary taxes. You just made that term up in order to push your false narrative.



Says the guy who doesn't understand reconciliation, inflation, basic statistical analysis, the English language, etc....
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You keep coming back for more, don't you have any pride at all?

I didn't say there were discretionary taxes there are discretionary budget items funded by specific taxes to fund those items. You have no clue as to what taxes you pay or their purpose. Take a civics class
 
Kushinator said:
You claimed interest rate increases caused $120+ billion in Federal interest outlays. While it is true that interest expense has increased by $135 billion from FY 2016 to FY 2019, the effective interest rate on all debt is roughly the same for these two periods of time.

October 2015 : interest rate on all federal debt - 2.4%
October 2019 : interest rate on all federal debt - 2.5%

In reality, an additional $4.35 trillion dollars in debt arose. You do the math.
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Reasonable method if you refer to marketable debt, but your dates and numbers are wrong. Using your cite, Oct 2016 average is 1.984 and Oct 2019 average is 2.404, a difference of 0.420 an increase of 21.2%. By your cite, Public debt has gone from $14.287 Trillion to $16.981 Trillion, and increase of $2.694 Trillion.

It's bad enough when you don't lie about the numbers.
 
Of course Trump is a liar.
 
Jay59 said:
Reasonable method if you refer to marketable debt, but your dates and numbers are wrong.
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Fiscal year 2016 begins in October 2015 (2.368%). Fiscal year 2019 ends in October 2019 (2.44%).

The numbers are correct.

Using your cite, Oct 2016 average is 1.984 and Oct 2019 average is 2.404, a difference of 0.420 an increase of 21.2%.
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October 2019 is 2.464%.

By your cite, Public debt has gone from $14.287 Trillion to $16.981 Trillion, and increase of $2.694 Trillion
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False.

Total public debt October 31 2015: $18,152,981,685,747.52

Total public debt October 31 2019: $23,008,409,564,494.99

It was a typo: $4.65 trillion in debt

It's bad enough when you don't lie about the numbers.
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I didn't lie about anything. All of the data was provided with proper citation. My point stands.
 
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Taylor said:
Not like Medicare. Not even close.

0027_entitlement-programs-proj-full.gif
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Interesting, but that's not what I said. I said SS is going to be a bigger driver of deficits than Medicare or Medicaid. I see a couple of problems in your graph:

1. Your graph combines Medicare and Medicaid (and CHIP and the ACA and probably SNAP) all together even though they are separate programs.
2. There's no mention of how much revenue SS will collect each year vs how much it will pay out, or how much all the other programs will collect vs pay out. That difference is the driver of deficits.
 
Kushinator said:
Fiscal year 2016 begins in October 2015 (2.368%). Fiscal year 2019 ends in October 2019 (2.44%). The numbers are correct.
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Wrong number. You want FY 2017. FY 2016 was entirely in the Obama term. You also want Public debt or marketable debt, to exclude intra-government lending.

October 2019 is 2.464%.
Total public debt October 31 2015: $18,152,981,685,747.52
Total public debt October 31 2019: $23,008,409,564,494.99

It was a typo: $4.65 trillion in debt
I didn't lie about anything. All of the data was provided with proper citation. My point stands.
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Fine. You are mistaken, wrong, in error. I stand corrected
 
Jay59 said:
Wrong number. You want FY 2017. FY 2016
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This silly moving of the goal posts won't work. You clearly stated the interest expense increased between 2016 and 2019. I provided the data for the fiscal years and the effective interest rates for the said dates. Now suddenly, you need to begin at FY 2017 (for which the spending resolutions were signed by Obama). Sorry champ, that's not how it works.

You also want Public debt or marketable debt, to exclude intra-government lending.
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No you don't. The current surpluses take away from the deficit and will add to it as becomes less than outlays... which is occurring as of now. The only reason S.S. is still operating with a surplus is because of the interest they are earning on current redemptions. So no... we don't want to exclude intra-governmental holdings.
 
rickc said:
Deficit spending is only a problem when a democrat is in the white house.

Republicans never complained about bush's deficits or now with Trump's

Why republicans are called conservative boggles the mind
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Religious fascist is a little too melodramatic in nonrevolutionary times.

Я Баба Яга [emoji328]
 
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Hatuey said:
Religious fascist was a little too melodramatic in nonrevolutionary times.

Я Баба Яга [emoji328]
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Regressive is a term that comes to mind.
 
charliebrown said:
Obama changed the federal spending from roughly 2.5T a year to 3.5T
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False.

Obama inherited a $1.18 trillion deficit and a $3.5 trillion budget:

6ad1165e66.png


That was a 40% increase in government spending with not new taxes to pay for it.
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Tax revenue rebounded in 2012:

fredgraph.png
 
Conservative said:
look, getting tired of educating liberals like you only to be ignored, there are two parts of the budget, discretionary and mandatory. Discretionary is the smallest part and was 1.47 trillion for 2019, Revenue from discretionary taxes was over 2 trillion dollars so tell me how two trillion dollars in revenue to fund 1.47 trillion creates a deficit? You people need to get an education.

As for Trump's promises, you rely a lot on rhetoric but I prefer the return on investment taxpayers are getting and all the new jobs and state and local revenue being generated. Doubt seriously that you would understand that reality either. There is a lot of difference between the Obama deficit and Trump deficit, care to explain what we got out of the Obama deficits?
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We got a recovered economy. This is the longest bull market in history. It began in March of 2009, after the 1st quarter of the Obama administration. You conservatives need a better education, and don’t seem to understand reality.
 
Kushinator said:
False.

Obama inherited a $1.18 trillion deficit and a $3.5 trillion budget:

6ad1165e66.png




Tax revenue rebounded in 2012:

fredgraph.png
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Not to mention two wars and a collapsed economy. Bush really handed Obama a train wreck.
 
Conservative said:
Your liberal ideology makes you believe the gov't is giving money away with tax cuts, tax cuts allow people to KEEP MORE OF WHAT THEY EARN. Simple concept except to envious liberals
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Most rich people didn't earn their money. Most rich people are rich because they marry into the money or are born into it, like Trump who was given his first million when he was eight years old.

American is a plutocracy, owned and governed by the rich. The fact they can convince blue collar working people that it's in their interest to support Republican toadies is amazing. We're become in like Ancient Rome where the citizens are distracted by circuses while the rich plunder the treasury.
 
Kushinator said:
This silly moving of the goal posts won't work. You clearly stated the interest expense increased between 2016 and 2019. I provided the data for the fiscal years and the effective interest rates for the said dates. Now suddenly, you need to begin at FY 2017 (for which the spending resolutions were signed by Obama). Sorry champ, that's not how it works. No you don't. The current surpluses take away from the deficit and will add to it as becomes less than outlays... which is occurring as of now. The only reason S.S. is still operating with a surplus is because of the interest they are earning on current redemptions. So no... we don't want to exclude intra-governmental holdings.
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I said three years, so you begin after the end of FY 2016. That's not all under Trump, but the alternative is to start in FY 2017. Perhaps we should do that.
 
Conservative said:
Any idea why? Income tax and Excise Tax revenue exceeded 2 trillion dollars to fund 1.47 trillion in discretionary spending. maybe you ought to do some research on the line items in the budget

It is amazing how Clinton added 1.4 trillion to the debt with that so called surplus. I cannot believe how poorly informed you are
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Your good ole boy George W. Bush f**cked us royally on the debt.
 
MauiMan said:
Not to mention two wars and a collapsed economy. Bush really handed Obama a train wreck.
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Closer to a golden ticket. The bottom was past, but nothing Obama did would make things worse and it would get better if he did nothing.

bradt99 said:
Your good ole boy George W. Bush f**cked us royally on the debt.
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True, but there is plenty of blame for Obama as well. 2009 is on GWB. 2010-2011 is not. Things really started improving under the 2011 Congress.
 
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MauiMan said:
US budget deficit running 11.8% higher this year

"The U.S. budget deficit through the first three months of this budget year is up 11.8% from the same period a year ago, putting the country on track to record its first $1 trillion deficit in eight years."

"The country has not experienced $1 trillion annual deficits since the period from 2009 through 2012 following the 2008 financial crisis."

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The Clinton Presidency was the last time there was a budget surplus.

Trump vowed to cut the national debt “very quickly”. Was he lying? Is the United States his next bankruptcy?

Trump promised to get rid of the deficit in 8 years. But it just topped $1 trillion for the first time since 2012. | Markets Insider
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Where are the Democrats at with passing budgets, shouldn't their job be to decrease federal spending?
 
Jay59 said:
Closer to a golden ticket. The bottom was past, but nothing Obama did would make things worse and it would get better if he did nothing.


True, but there is plenty of blame for Obama as well. 2009 is on GWB. 2010-2011 is not. Things really started improving under the 2011 Congress.
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You are arguing that Obama was lucky that Bush was so bad?
 
jdog21 said:
Where are the Democrats at with passing budgets, shouldn't their job be to decrease federal spending?
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Shouldn’t the President veto budgets that don’t fulfill his campaign promises?
 
MauiMan said:
Shouldn’t the President veto budgets that don’t fulfill his campaign promises?
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Not always, the house is the peoples voice right, so shouldn't the peoples reps that is tasked with making the federal budget write their bills to help reduce federal spending or our the people voice saying we want out of control government spending?
 
MauiMan said:
US budget deficit running 11.8% higher this year

"The U.S. budget deficit through the first three months of this budget year is up 11.8% from the same period a year ago, putting the country on track to record its first $1 trillion deficit in eight years."

"The country has not experienced $1 trillion annual deficits since the period from 2009 through 2012 following the 2008 financial crisis."

————————————————

The Clinton Presidency was the last time there was a budget surplus.

Trump vowed to cut the national debt “very quickly”. Was he lying? Is the United States his next bankruptcy?

Trump promised to get rid of the deficit in 8 years. But it just topped $1 trillion for the first time since 2012. | Markets Insider
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Anyone who accepts campaign rhetoric as "promises" is foolish beyond belief.
 
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