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U.S. deficit spikes 42% in 1st Q of fiscal year

calamity

calamity

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U.S. budget deficit spikes 42% in first three months of fiscal year

The U.S. budget deficit totaled $318.9 billion in the first quarter of the 2019 fiscal year, a 41.8% increase from the same period last year, according to data released by the Treasury Department.

Why it matters: The nonpartisan Congressional Budget Office projects that the deficit will keep growing and surpass $1 trillion by 2022, in part due to President Trump's tax cuts and increased government spending
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Bullseye said:
CBO also predicted this year's deficit will be $75 billion less than they'd projected last year at this time (just after Trump's tax cuts) It also said the ten year total deficit would be about $1.25 trillion less.
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You didn't source your claim. Sorry, your word just isn't good enough, and so this statement can be dismissed until you can provide an acceptable source that shows this to be the case.
 
Kushinator said:
You didn't source your claim. Sorry, your word just isn't good enough, and so this statement can be dismissed until you can provide an acceptable source that shows this to be the case.
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I've only reported the same data about eight times. I don't respond to pissant attempts at intimidation or bullying.
 
Bullseye said:
I've only reported the same data about eight times. I don't respond to pissant attempts at intimidation or bullying.
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It shouldn't be difficult to reproduce. However, it's not my job to do so.
 
Kushinator said:
It shouldn't be difficult to reproduce. However, it's not my job to do so.
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If I respected you or cared to discuss anything with you it would have been reproduced immediately. Catch my drift?
 
Bullseye said:
I've only reported the same data about eight times. I don't respond to pissant attempts at intimidation or bullying.
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Not on this thread you haven't. Put up or shut up, please.
 
Idiometer said:
Not on this thread you haven't. Put up or shut up, please.
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I'll do neither. You impress me as little as kushinator, and that's a low bar.
 
Bullseye said:
CBO also predicted this year's deficit will be $75 billion less than they'd projected last year at this time (just after Trump's tax cuts) It also said the ten year total deficit would be about $1.25 trillion less.
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Lying without any backup whatsoever makes you no better than the idiots who are skyrocketing our deficit.
 
Greenbeard said:
How many times does the GOP need to run the same experiment and get the same results before something clicks?
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They can "run it" it continually, knowing they can just blame the Democrats when things go wrong, and their base will believe it.
 
Puigb said:
They can "run it" it continually, knowing they can just blame the Democrats when things go wrong, and their base will believe it.
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Indeed.

1. GOP blows up the deficit
2. Dems spend eight years bringing it back down, while the GOP bemoans the mounting debt.
3. GOP regains power and blows up the deficit again.
 
Greenbeard said:
Indeed.

1. GOP blows up the deficit
2. Dems spend eight years bringing it back down, while the GOP bemoans the mounting debt.
3. GOP regains power and blows up the deficit again.
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Rinse and Repeat. I feel bad for the next Dem president who will be forced to clean up Trump and the GOP's manure, all while GOP politicians and right wing media and voters call him or her a socialist, communist, etc. Who knows, maybe the GOP will concoct another phony birther conspiracy theory to get the angry rubes to the polls. After all, it worked for Trump.
 
Shhh...Republicans only care about defects when a Dem is President.
 
Media_Truth said:
Lying without any backup whatsoever makes you no better than the idiots who are skyrocketing our deficit.
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So here's the deal...


There was a CBO budget outlook release in January. In section one it states:
The Congressional Budget Office estimates that in the absence of further legislation affecting spending and revenues, the budget deficit for fiscal year 2019 will total $897 billion. That amount is $75 billion smaller than the $973 billion deficit estimated in CBO’s adjusted April 2018 baseline projections
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It also states:
The decrease in the projected deficit for 2019 stems primarily from $47 billion in technical changes. Economic and legislative changes together reduce the estimated deficit for 2019 by an additional $29 billion

The differences between the current projections and the previous ones consist of three types of changes:

Legislative changes, which result from the enactment of new laws and generally reflect the budgetary effects reported in CBO’s cost estimates at the time the new laws were enacted;

Economic changes, which result from the agency’s updated economic forecast (and include the macroeconomic effects associated with legislative changes); and

Technical changes, which are updates to projections other than legislative or economic changes.

The decrease in the projected deficit for 2019 stems primarily from $47 billion in technical changes. Economic and legislative changes together reduce the estimated deficit for 2019 by an additional $29 billion.Over the 2019–2028 period, legislative changes are the main reason for the reduction in projected deficits; they reduce the projected cumulative deficit by $774 billion,almost entirely because of less projected emergency spending (see Figure A-1). Revisions to CBO’s economic forecast since April—chiefly lower anticipated interest rates—cause $336 billion in reductions to projected deficits.3 Technical updates to the agency’s projections of revenues and outlays largely offset one another, decreasing the 10-year total deficit by $115 billion.
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He didn't make it to Appendix A where this information was located. Nope. He stopped right after the first part of the summary appeared to confirm his bias.
 
If you want to reduce the deficit, cut spending. Raising taxes, while it will reduce the deficit, only allows maintaining increased government spending.
 
Kushinator said:
Over the 2019–2028 period, legislative changes are the main reason for the reduction in projected deficits; they reduce the projected cumulative deficit by $774 billion, almost entirely because of less projected emergency spending (see Figure A-1).
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As long as we don't have any major wildfires, hurricanes, or other major disasters that should definitely hold up. Otherwise Congress will have to appropriate the funds anyway and will no longer be able to hide that spending from the CBO.

The good news is we're definitely not as of today in an ill-defined state of emergency explicitly designed to test the power of the executive to spend without appropriations.
 
Bullseye said:
I'll do neither. You impress me as little as kushinator, and that's a low bar.
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Not trying to impress you, just asking you to prove your claim. You seem unable to do that here on this thread, which makes YOU very unimpressive.
 
Greenbeard said:
How many times does the GOP need to run the same experiment and get the same results before something clicks?
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It looks like they will keep doing it until they Bankrupt this country.
They keep telling the lie that Obama doubled the debt but IF they took time to do a little research they would find out the ONLY two Presidents in the last 50 years that did that were both Republicans and both did it with big tax cuts for the rich that were to " Trickle Down " and that was Reagan and GW Bush
Reagan almost tripled it and GW doubled it.
They say insanity is trying the same thing over and over again and expecting a different outcome
Have a nice day
 
Media_Truth said:
Lying without any backup whatsoever makes you no better than the idiots who are skyrocketing our deficit.
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Accusing people of lying when you have no idea of the facts or truth is just plain idiotic. The data is readily available, I could post it in about five key strokes, but I'm not going to, because I'm not going to reward boorish, asinine behavior, and attempts to intimidate or bully me. Rewarding assholes for assholedness just breeds more assholes.
 
Tbird19482 said:
It looks like they will keep doing it until they Bankrupt this country.
They keep telling the lie that Obama doubled the debt but IF they took time to do a little research they would find out the ONLY two Presidents in the last 50 years that did that were both Republicans and both did it with big tax cuts for the rich that were to " Trickle Down " and that was Reagan and GW Bush
Reagan almost tripled it and GW doubled it.
They say insanity is trying the same thing over and over again and expecting a different outcome
Have a nice day
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The largest debt increase was under FDR, and much of our debt increase afterwards is the result of Social program spending created and grown under successive Democrat presidents, especially by LBJ. But it was Wilson in 1913 who made this possible.
 
Individual said:
The largest debt increase was under FDR, and much of our debt increase afterwards is the result of Social program spending created and grown under successive Democrat presidents, especially by LBJ. But it was Wilson in 1913 who made this possible.
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i never said Reagan and Bush ran the debt up the most ever I said in last 50 years
Reagan almost tripled it and Bush did double it.
Fact is the Republicans still keep repeating the same old lie
They keep saying that Obama doubled / tripled / ran the debt up more then all his predecessors combined
If he had done any of these the debt would have been over 23 Trillion dollars when Trump took over the budget and debt on Oct 1 2017
Hope that helps you
Have a nice day
 
Tbird19482 said:
i never said Reagan and Bush ran the debt up the most ever I said in last 50 years
Reagan almost tripled it and Bush did double it.
Fact is the Republicans still keep repeating the same old lie
They keep saying that Obama doubled / tripled / ran the debt up more then all his predecessors combined
If he had done any of these the debt would have been over 23 Trillion dollars when Trump took over the budget and debt on Oct 1 2017
Hope that helps you
Have a nice day
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And I just went back a little further than 50 years.
We need to reduce Federal government spending, regardless of which party has control of government.
I hope that helps you.
At my age, every day I wake is a great day.
 
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