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Thread: US budget deficit running 11.8% higher this year

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    US budget deficit running 11.8% higher this year

    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."

    覧覧覧覧覧覧覧覧

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

    Trump vowed to cut the national debt 砺ery 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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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by MauiMan View Post
    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
    Too bad the Fed won't help out.
    TANSTAAFL
    When I "dismiss" you it only means that I have determined that further discussion is useless or counter-productive. Don't take it personally. Go ahead and have your last word...and move on.

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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by Mycroft View Post
    Too bad the Fed won't help out.
    What do you want the Fed to do?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by Mycroft View Post
    Too bad the Fed won't help out.
    The Federal Reserve has nothing to do with this aspect of our economy.
    "Some men see things as they are and ask why? I dream of things that never were, and ask why not." Robert F. Kennedy

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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by Kushinator View Post
    What do you want the Fed to do?
    Lower the prime rate. Not only will it help businesses, but it'll reduce deficit spending.
    TANSTAAFL
    When I "dismiss" you it only means that I have determined that further discussion is useless or counter-productive. Don't take it personally. Go ahead and have your last word...and move on.

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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by mrjurrs View Post
    The Federal Reserve has nothing to do with this aspect of our economy.
    Not true.

    By keeping the prime rate higher than it needs to be, they keep the interest paid to service the national debt higher than it needs to be.
    TANSTAAFL
    When I "dismiss" you it only means that I have determined that further discussion is useless or counter-productive. Don't take it personally. Go ahead and have your last word...and move on.

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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by Mycroft View Post
    Lower the prime rate. Not only will it help businesses, but it'll reduce deficit spending.
    Interest rates are already well below the historic average, and the average interest rate for Treasury debt sets at about 2.43% (for reference, in 2008 it was > 4%). Regardless, its not in the Fed's mandate to make monetary policy decisions on the basis of the helping out the Treasury.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by Mycroft View Post
    Not true.

    By keeping the prime rate higher than it needs to be, they keep the interest paid to service the national debt higher than it needs to be.
    Do you believe interest rates are too high? The 30 year Treasury trades at 2.3%... the 10 year trades at 1.8%. Not to mention, the Fed has an ongoing reverse repo facility in full swing.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by Mycroft View Post
    Not true.

    By keeping the prime rate higher than it needs to be, they keep the interest paid to service the national debt higher than it needs to be.
    That is not their responsibility. They play with interest rates to keep inflation at their target and to maintain stable unemployment numbers.
    "Some men see things as they are and ask why? I dream of things that never were, and ask why not." Robert F. Kennedy

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    Re: US budget deficit running 11.8% higher this year

    Quote Originally Posted by Mycroft View Post
    Too bad the Fed won't help out.
    IT'S NOT TRUMP's FAULT!!!

    Lol, you're so predictable.

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