Deficit at Highest Level in 6 Years

MTAtech · Mar 23, 2018

Conservative said:
Your so-called facts lack context as we pay debt service on total debt Clinton had a deficit in the Years you quoted in inter government Holdings which added to the debt and after 8 years it was 1.4 trillion dollars. That is reality so you know what you can do with your fax

"we are all capable of believing things which we know to be untrue, and then, when we are finally proved wrong, impudently twisting the facts so as to show that we were right. Intellectually, it is possible to carry on this process for an indefinite time: the only check on it is that sooner or later a false belief bumps up against solid reality, usually on a battlefield." -- George Orwell

MrMike · Mar 23, 2018

Media_Truth said:
They're at it again. The supposedly fiscally responsible Party is balooning the deficit again. The same old sorry story. Trumps doing it. GW did it. Reagan did it. Cut taxes for billionaires and CEOs, and put the burden on the every day taxpayer.

US monthly budget deficit largest in 6 years - Mar. 12, 2018

New Treasury Department numbers show that the US government racked up a $215 billion deficit in February -- the largest monthly deficit in six years.

Weird... when you mentioned other POTUS's doing it you left out the big Deficit maker Obama. Why is that?

Conservative · Mar 23, 2018

MTAtech said:
"we are all capable of believing things which we know to be untrue, and then, when we are finally proved wrong, impudently twisting the facts so as to show that we were right. Intellectually, it is possible to carry on this process for an indefinite time: the only check on it is that sooner or later a false belief bumps up against solid reality, usually on a battlefield." -- George Orwell

Except treasury is the bank account of the United States so tell me what good is it to have a balanced budget but increase the deficit because you took from another part and left inter government Holdings with I owe you's. Do we pay debt service on the deficit or the debt?

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Critter7r · Mar 23, 2018

Conservative said:
Except treasury is the bank account of the United States so tell me what good is it to have a balanced budget but increase the deficit because you took from another part and left inter government Holdings with I owe you's. Do we pay debt service on the deficit or the debt?

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Intergovernmental holdings are like taking a loan from your 401(k). Yes, you have to pay it back and you even have to pay interest, but you're paying that interest to yourself.

Conservative · Mar 23, 2018

Critter7r said:
Intergovernmental holdings are like taking a loan from your 401(k). Yes, you have to pay it back and you even have to pay interest, but you're paying that interest to yourself.

So where is the money going to come from to fund those IOU's? try to spend an IOU at the Grocery Store with your SS IOU

Critter7r · Mar 23, 2018

Conservative said:
So where is the money going to come from to fund those IOU's? try to spend an IOU at the Grocery Store with your SS IOU

The only way SS (or the country for that matter) runs out of money is if we LET it run out of money.

Conservative · Mar 23, 2018

Critter7r said:
The only way SS (or the country for that matter) runs out of money is if we LET it run out of money.

Yes, and that money tree in the back doesn't work well. Again where does the money come from for those IOU's?? We are running deficits now and have trillions in unfunded mandates so we aren't paying ourselves we are paying debt service for those IOU's

Critter7r · Mar 23, 2018

Conservative said:
Yes, and that money tree in the back doesn't work well.

Really? Your random complaints notwithstanding, it seems to be working just fine.

Again where does the money come from for those IOU's?? We are running deficits now and have trillions in unfunded mandates so we aren't paying ourselves we are paying debt service for those IOU's

The same place it's come from since my grandfather uttered the same dire predictions as you are now.

Conservative · Mar 23, 2018

Critter7r said:
Really? Your random complaints notwithstanding, it seems to be working just fine.

The same place it's come from since my grandfather uttered the same dire predictions as you are now.

So let's see if I have this right, you are forced to contribute to SS and Medicare through Payroll taxes(FICA) and do so for your entire working career. Politicians put that money on budget and spent it on everything other than SS and Medicare so when it comes to retirement they now want to raise Payroll taxes to fund your retirement as the IOU's have come due? Is that liberal logic or what? Tax you once for your contribution and tax you again to pay for their poor management!

jonny5 · Mar 23, 2018

Conservative said:
So let's see if I have this right, you are forced to contribute to SS and Medicare through Payroll taxes(FICA) and do so for your entire working career. Politicians put that money on budget and spent it on everything other than SS and Medicare so when it comes to retirement they now want to raise Payroll taxes to fund your retirement as the IOU's have come due? Is that liberal logic or what? Tax you once for your contribution and tax you again to pay for their poor management!

Well, people do keep re-electing them. Maybe thats because most of them arent really paying much in.

Critter7r · Mar 23, 2018

Conservative said:
So let's see if I have this right, you are forced to contribute to SS and Medicare through Payroll taxes(FICA) and do so for your entire working career. Politicians put that money on budget and spent it on everything other than SS and Medicare so when it comes to retirement they now want to raise Payroll taxes to fund your retirement as the IOU's have come due? Is that liberal logic or what? Tax you once for your contribution and tax you again to pay for their poor management!

But it's not really any different from being forced to pay run-of-the-mill income taxes and still driving on roads in poor condition. Just because the SS tax is separated out from other income tax doesn't make it special. It's not your personal retirement fund, it's not an IRA or even a 401(k), it's just a tax that you pay to fund the current retirees. But separating it gives them the ability to say, "see, you only pay xx% of your income in taxes ... well, plus SS & Medicare. But the "income" tax is only xx%!!".

Conservative · Mar 23, 2018

Critter7r said:
But it's not really any different from being forced to pay run-of-the-mill income taxes and still driving on roads in poor condition. Just because the SS tax is separated out from other income tax doesn't make it special. It's not your personal retirement fund, it's not an IRA or even a 401(k), it's just a tax that you pay to fund the current retirees. But separating it gives them the ability to say, "see, you only pay xx% of your income in taxes ... well, plus SS & Medicare. But the "income" tax is only xx%!!".

I have asked you over and over again to learn what taxes you pay and their purpose. INCOME TAXES WERE NOT CREATED FOR INFRASTRUCTURE!! You aren't the only one with this problem as it seems to reside however more with left leaning people who never understand the taxes or purpose.

Now you didn't answer the question posted, It is logical to be forced to pay into SS through FICA taxes, have those taxes used for some other purpose and then be taxed again to fund the shortfall? It was never intended to fund the current retiree as that wasn't the purpose. Another issue you don't understand

Critter7r · Mar 23, 2018

Conservative said:
I have asked you over and over again to learn what taxes you pay and their purpose. INCOME TAXES WERE NOT CREATED FOR INFRASTRUCTURE!! You aren't the only one with this problem as it seems to reside however more with left leaning people who never understand the taxes or purpose.

Like it or not, they DO fund infrastructure, or they're supposed to. Income taxes were "created" over 100 years ago, get used to the idea that they're used for more things than your interpretation of what they "should be" used for.

Now you didn't answer the question posted, It is logical to be forced to pay into SS through FICA taxes, have those taxes used for some other purpose and then be taxed again to fund the shortfall? It was never intended to fund the current retiree as that wasn't the purpose. Another issue you don't understand

You really should brush up on the history of SS. That was it's SOLE original purpose.

Conservative · Mar 23, 2018

Critter7r said:
Like it or not, they DO fund infrastructure, or they're supposed to. Income taxes were "created" over 100 years ago, get used to the idea that they're used for more things than your interpretation of what they "should be" used for.

You really should brush up on the history of SS. That was it's SOLE original purpose.

No, they aren't supposed to fund infrastructure!! What is a matter with you? Learn the taxes you pay and their purpose. SS intent was a retirement supplement NOT to fund someone else's. You have bought the politicians rhetoric and ignored history

AlbqOwl · Mar 23, 2018

Media_Truth said:
They're at it again. The supposedly fiscally responsible Party is balooning the deficit again. The same old sorry story. Trumps doing it. GW did it. Reagan did it. Cut taxes for billionaires and CEOs, and put the burden on the every day taxpayer.

US monthly budget deficit largest in 6 years - Mar. 12, 2018

New Treasury Department numbers show that the US government racked up a $215 billion deficit in February -- the largest monthly deficit in six years.

The deficit produced by Obama's last budget ending October 2017 was the ominous amount of $666 billion. The current deficit in Trump's first budget is roughly $440 billion. We'll see how it shakes out by October when this budget year ends.

Critter7r · Mar 24, 2018

Conservative said:
No, they aren't supposed to fund infrastructure!! What is a matter with you? Learn the taxes you pay and their purpose.

ok, well ... "general welfare" and "interstate commerce" pretty much require that some infrastructure is paid for by taxes.

SS intent was a retirement supplement NOT to fund someone else's. You have bought the politicians rhetoric and ignored history

You'll have to cite the source for that misinformation, since the money collected thru FICA was never put into individual accounts, and the amount you get paid by SS isn't based on how much you put into the fund. There's a minimum number of years that you must participate before being eligible for benefits, but by meeting the minimum requirements, you can draw SS payments for the rest of your life. Oh, and those payments are funded by people currently working, not by the money you put in 20 years earlier (that money is long since spent).

Conservative · Mar 24, 2018

Critter7r said:
ok, well ... "general welfare" and "interstate commerce" pretty much require that some infrastructure is paid for by taxes.

You'll have to cite the source for that misinformation, since the money collected thru FICA was never put into individual accounts, and the amount you get paid by SS isn't based on how much you put into the fund. There's a minimum number of years that you must participate before being eligible for benefits, but by meeting the minimum requirements, you can draw SS payments for the rest of your life. Oh, and those payments are funded by people currently working, not by the money you put in 20 years earlier (that money is long since spent).

That is true but when LBJ put SS and medicare on budget and used the money for everything other than SS and Medicare that opened Pandora's Box and is totally ignored by you and others. Again, the problem is SS and Medicare are paid for out of FICA taxes and when they are short on money because of Congress spending it, higher taxes are needed to fund the SS and Medicare requirements meaning another tax to fund the previous tax. You don't have a problem with that? Explains a lot if you don't

Critter7r · Mar 24, 2018

Conservative said:
That is true but when LBJ put SS and medicare on budget and used the money for everything other than SS and Medicare that opened Pandora's Box and is totally ignored by you and others.

Regardless of whether SS was "on budget" or "off budget", the design since DAY 1 has been that any surplus generated by SS was REQUIRED BY THE LAW to be used to purchase Treasuries, thereby feeing up that surplus to be used by the gov't for other purposes. "on budget" and "off budget" is an accounting gimmick that doesn't change the way the money is used. It does NOT sit in a bank account waiting to be sent to SS recipients. Never has. And it would be dumb to do that. How much would people be howling about "borrowing money from China" if we had a Trillion dollars gathering dust in the SS Trust Fund? (And they'd be right to ask).

Again, the problem is SS and Medicare are paid for out of FICA taxes and when they are short on money because of Congress spending it, higher taxes are needed to fund the SS and Medicare requirements meaning another tax to fund the previous tax. You don't have a problem with that? Explains a lot if you don't

Conservative · Mar 24, 2018

Critter7r said:
Regardless of whether SS was "on budget" or "off budget", the design since DAY 1 has been that any surplus generated by SS was REQUIRED BY THE LAW to be used to purchase Treasuries, thereby feeing up that surplus to be used by the gov't for other purposes. "on budget" and "off budget" is an accounting gimmick that doesn't change the way the money is used. It does NOT sit in a bank account waiting to be sent to SS recipients. Never has. And it would be dumb to do that. How much would people be howling about "borrowing money from China" if we had a Trillion dollars gathering dust in the SS Trust Fund? (And they'd be right to ask).

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Which makes you part of the problem, SS and Medicare funds always took in more than they spent thus the Congressional critters spent the money like kids in a candy store. Now there is a shortfall so you have no problem raising taxes to pay for the tax short fall vs. actually solving the spending problem. That is how things do work in DC today and the fact that the left buys this rhetoric and activity.

Wonder if that is how you invest your own money over your career? Keep buying the leftwing spin and the fact that we have a revenue problem and not a spending problem.

ttwtt78640 · Mar 24, 2018

Conservative said:
That is true but when LBJ put SS and medicare on budget and used the money for everything other than SS and Medicare that opened Pandora's Box and is totally ignored by you and others. Again, the problem is SS and Medicare are paid for out of FICA taxes and when they are short on money because of Congress spending it, higher taxes are needed to fund the SS and Medicare requirements meaning another tax to fund the previous tax. You don't have a problem with that? Explains a lot if you don't

Playing political accounting games is not required at all. When the federal government taxes at 18% of GDP and spends at 21% of GDP the result is a budget deficit of 3% of GDP. The social security "trust me" fund is required by law to "invest" any surplus in treasury securities.

Critter7r · Mar 24, 2018

Conservative said:
Which makes you part of the problem, SS and Medicare funds always took in more than they spent thus the Congressional critters spent the money like kids in a candy store.

The SS surplus used to purchase Treasuries isn't spent any differently than any other revenues generated by the federal government.

Now there is a shortfall so you have no problem raising taxes to pay for the tax short fall vs. actually solving the spending problem. That is how things do work in DC today and the fact that the left buys this rhetoric and activity.

Wonder if that is how you invest your own money over your career? Keep buying the leftwing spin and the fact that we have a revenue problem and not a spending problem.

I don't disagree that we have a spending problem, but that doesn't negate your misunderstanding of how SS works.

SMTA · Mar 24, 2018

Media_Truth said:
They're at it again. The supposedly fiscally responsible Party is balooning the deficit again. The same old sorry story. Trumps doing it. GW did it. Reagan did it. Cut taxes for billionaires and CEOs, and put the burden on the every day taxpayer.

US monthly budget deficit largest in 6 years - Mar. 12, 2018

New Treasury Department numbers show that the US government racked up a $215 billion deficit in February -- the largest monthly deficit in six years.

Typical GOP excessive spending.

Conservative · Mar 24, 2018

Critter7r said:
The SS surplus used to purchase Treasuries isn't spent any differently than any other revenues generated by the federal government.

I don't disagree that we have a spending problem, but that doesn't negate your misunderstanding of how SS works.

Good Lord man your ignorance is staggering, where is the money going to come from to fund those IOU's?

calamity · Mar 24, 2018

Conservative said:
Good Lord man your ignorance is staggering, where is the money going to come from to fund those IOU's?

So, you are returning your checks uncashed?

Didn't think so.

Conservative · Mar 24, 2018

calamity said:
So, you are returning your checks uncashed?

Didn't think so.

Nope, why should I return my money? I grew up in Ohio and know one helluva lot more than you apparently do about SS/Medicare and govt. spending. I took civics, when will you?

Deficit at Highest Level in 6 Years

MTAtech

MrMike

Conservative

Critter7r

Conservative

Critter7r

Conservative

Critter7r

Conservative

jonny5

Critter7r

Conservative

Critter7r

Conservative

AlbqOwl

Critter7r

Conservative

Critter7r

Conservative

ttwtt78640

Sometimes wrong

Critter7r

SMTA

Tsuyo Ketsu no Anna

Conservative

calamity

Privileged

Conservative