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Deficits are exploding – and neither party seems to care

manofknowledge said:
Yes, then we could payout the trust fund to people when they retire based on the amounts they paid into it. What a brilliant idea.
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How do you create a savings account of pooled funds in the tune of trillions of dollars that doesn't get eaten up by inflation?
 
Kushinator said:
How do you create a savings account of pooled funds in the tune of trillions of dollars that doesn't get eaten up by inflation?
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You put special Treasury Bonds in the trust fund instead of cash. The interest accumulates in the trust fund and offsets inflation.
 
Kushinator said:
What's the alternative? Your political party had full control of government and did nothing to address spending (so they could avoid being swept out of office), and cut a massive hole in baseline revenue. Republicans no longer control the HoR, and will soon lose the Senate and Presidency in upcoming elections. At that point, we will already be in a recession primarily exacerbated by poor economic policy (stimulus with full employment). Then you will belly ache about Democrats causing the recession because they took the house in 2018, call for additional tax and spending cuts, and claim Trump wasn't given a chance.

Thread is bookmarked for future reference.
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"My" Party beats the alternative but I voted for the guy who actually submitted a lower budget, a budget you ignore
 
OrphanSlug said:
Now all you are doing is mixing up subjects in an effort to recover, cherry picking what part of spending is to deficit and what part is presumably covered by revenue (which the budget does not do nor does your own link,) and turning around only to... triple down... on us having a unified budget but also deciding it should be otherwise anyway... just cause you say so.

Exploding deficits are our total fiscal position now, Trump's tax cuts contributed to that no matter how much you suggest his actions are isolated from all other fiscal realities.

Lastly, go find where I said anything supporting this nonsense you spewed... "you now want them to have their taxes raised to fund those programs? That is truly liberal logic."

I know, "liberal this" and "liberal that"... all that does is diminish your argument, as if it could get any worse.
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the thread topic is about the deficit exploding, revenue is up which you ignored and SS, Medicare, and Interest expenses is well over half the deficit you are blaming on trump. Remove those items and what would the deficit be?? it is you that wants to divert from the thread topic while ignoring again context

Trump's tax cuts really bother you so much, so if you are paying any taxes, and getting a cut, send yours back. Stop the whining because there is no assurance that any revenue increases are going to deficit reduction. Keep buying the liberal spin and ignoring the fact that the only power coming from federal revenue increases goes to the bureaucrats
 
manofknowledge said:
What is your preferred legislative agenda regarding the Budget and appropriations?
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My legislative agenda would be to return all social programs excluding SS and Medicare to the states where they belong. I would eliminate some actual departments like Education and EPA cut everything else except defense and get the actual operating budget down to about 1.8 trillion per year. SS and Medicare should be put back where they belong, set up a tax to fully fund the shortfall and make sure that money could never be used by the federal bureaucrats again.
 
manofknowledge said:
You put special Treasury Bonds in the trust fund instead of cash. The interest accumulates in the trust fund and offsets inflation.
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That's what we have now!
 
Conservative said:
the thread topic is about the deficit exploding, revenue is up which you ignored and SS, Medicare, and Interest expenses is well over half the deficit you are blaming on trump. Remove those items and what would the deficit be?? it is you that wants to divert from the thread topic while ignoring again context

Trump's tax cuts really bother you so much, so if you are paying any taxes, and getting a cut, send yours back. Stop the whining because there is no assurance that any revenue increases are going to deficit reduction. Keep buying the liberal spin and ignoring the fact that the only power coming from federal revenue increases goes to the bureaucrats
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Still does not matter... "what would it be" has nothing to do with what really happened.

To the point of this thread... deficits are exploding, Trump's tax cuts contributed to that fact, and that is our fiscal reality now no matter what you think it should be or would be.

Keep calling me a "liberal this" or "liberal that" suggest I am whining or whatever other deflection you can muster... but all of my comments have been on topic, respected the point of this thread, and that includes Trump supporters that do not really care about exploding deficits all the while living in an alternate reality of should be or would be.
 
Conservative said:
"My" Party beats the alternative but I voted for the guy who actually submitted a lower budget, a budget you ignore
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Trump proposed a $4.75 trillion budget for fiscal year 2020. :lol:

Go ahead and attempt to spin your way out of that error.
 
Conservative said:
My legislative agenda would be to return all social programs excluding SS and Medicare to the states where they belong. I would eliminate some actual departments like Education and EPA cut everything else except defense and get the actual operating budget down to about 1.8 trillion per year. SS and Medicare should be put back where they belong, set up a tax to fully fund the shortfall and make sure that money could never be used by the federal bureaucrats again.
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So what you advocate is to reduce Federal Spending and transfer it to States forcing them to increase taxes, correct?
 
OrphanSlug said:
Still does not matter... "what would it be" has nothing to do with what really happened.

To the point of this thread... deficits are exploding, Trump's tax cuts contributed to that fact, and that is our fiscal reality now no matter what you think it should be or would be.

Keep calling me a "liberal this" or "liberal that" suggest I am whining or whatever other deflection you can muster... but all of my comments have been on topic, respected the point of this thread, and that includes Trump supporters that do not really care about exploding deficits all the while living in an alternate reality of should be or would be.
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It certainly does matter, SS, Medicare, and Interest expenses are most of the deficit that you want to blame on Trump. SS, Medicare are funded by FICA(Payroll taxes) so tell me exactly why federal income taxes and corporate taxes should be used to repay what the federal gov't "borrowed?" Exploding deficits now matters to you?? That is a lie and typical left wing rhetoric. The exploding deficits are outside the control of Trump who you want to blame, you are nothing more than a partisan left wing liberal who is jealous of what others have and what others get to keep of their own money believing that it is yours
 
Kushinator said:
Trump proposed a $4.75 trillion budget for fiscal year 2020. :lol:

Go ahead and attempt to spin your way out of that error.
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Yes he did, 1.4 trillion Discretionary and the rest Mandatory, you explain how Trump is responsible for mandatory spending?
 
Conservative said:
SS, Medicare are funded by FICA(Payroll taxes) so tell me exactly why federal income taxes and corporate taxes should be used to repay what the federal gov't "borrowed?"
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Only Part of A of Medicare is financed by payroll taxes. Hence the reason we need general revenue to fund non-hospital services (like physician services) and drugs for enrollees. Should we turn those services off for a few years until the finances straighten themselves out?
 
Greenbeard said:
Only Part of A of Medicare is financed by payroll taxes. Hence the reason we need general revenue to fund non-hospital services (like physician services) and drugs for enrollees. Should we turn those services off for a few years until the finances straighten themselves out?
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Doesn't matter, the facts show that the so called exploding deficits are due to SS, Medicare, and Interest expenses none of which are under control of the President. Reality
 
Conservative said:
Doesn't matter, the facts show that the so called exploding deficits are due to SS, Medicare, and Interest expenses none of which are under control of the President. Reality
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Well if that spending isn't under his control then I guess revenue is the only lever he's got. And boy did he misplay that.
 
Conservative said:
Doesn't matter, the facts show that the so called exploding deficits are due to SS, Medicare, and Interest expenses none of which are under control of the President. Reality
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Actually the interest expenses are. Any president could sign an executive order that immediately issues debt-free currency. We could pay off that debt and stop paying interest entirely.
 
Greenbeard said:
Well if that spending isn't under his control then I guess revenue is the only lever he's got. And boy did he misplay that.
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Revenue isn't the problem, entitlement spending is or should I say the "borrowing" of SS funds by previous Presidents and Congress. Now you want to raise taxes to fund the replacement of that money, typical liberalism, never accept responsibility for revenue abuse
 
Conservative said:
Revenue isn't the problem, entitlement spending is or should I say the "borrowing" of SS funds by previous Presidents and Congress. Now you want to raise taxes to fund the replacement of that money, typical liberalism, never accept responsibility for revenue abuse
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Every time I interact with an old conservative I'm certainly swayed by the argument we should simply cut SS and Medicare. I get no particular joy from paying to keep these tedious conversations going. If you're pitching cutting my taxes and lowering your benefits, I'm listening at least.
 
Greenbeard said:
Every time I interact with an old conservative I'm certainly swayed by the argument we should simply cut SS and Medicare. I get no particular joy from paying to keep these tedious conversations going. If you're pitching cutting my taxes and lowering your benefits, I'm listening at least.
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And every time I communicate with you it is raise taxes ignoring that the taxes funding SS and Medicare were abused for decades. Liberals have never seen a tax they wouldn't implement including this one to fund the abuse of the program in the past. The real answer is moving SS and medicare back into a lock box, THEN raise taxes to fund it making sure bureaucrats could never steal I mean borrow again
 
Conservative said:
And every time I communicate with you it is raise taxes ignoring that the taxes funding SS and Medicare were abused for decades.
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It may well be that you're right, we shouldn't be raising taxes to match the spending needs of today's Medicare and SS beneficiaries. The Boomers made their fiscal bed, perhaps it's time for them to face the benefit levels they funded during their working lives and not necessarily raise taxes on those working today.
 
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Greenbeard said:
It may well be that you're right, we shouldn't be raising taxes to match the spending needs of today's Medicare and SS beneficiaries. The Boomers made their fiscal bed, perhaps it's time for them to face the benefit levels they funded during their working lives and not necessarily raise taxes on those working today.
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Boomers? what did boomers have to do with putting SS and Medicare on budget and allowing bureaucrats to borrow from the account?
 
Conservative said:
Boomers? what did boomers have to do with putting SS and Medicare on budget and allowing bureaucrats to borrow from the account?
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Everything? They spent a lifetime underfunding these benefits and enjoying their tax cuts, now's the time to reap the fruits. You just gave me a tax cut and I assume we don't want to rescind that, so the only way to bring the budget into balance is to make these Boomers face reality. We can't fill their prescriptions anymore, nor can they go to the doctor.
 
chuckiechan said:
Deficits are exploding – and neither party seems to care | Fox News



It has been obvious to me that it’s going to be a mess trying to bring down the debt. The best place to start is to shut down some government agencies. The only other way is to inflate our way out if it. Other than that, gutting entitlements is the last resort to save the USA.

FYI:
U.S. National Debt Clock : Real Time

There is one teeny, tiny, bright spot. The trade deficit with China is falling. That is about all.
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I suggest we end social security and medicare for openers. After that we go after children's services and then the elderly. Those dang social programs are killing us. The crazy dems want to tax the wealthy and job creators like that would help anything. Corporate america already pays too much.

https://www.taxpayer.net/budget-appropriations-tax/4-examples-of-corporate-welfare-in-action/
 
Greenbeard said:
Everything? They spent a lifetime underfunding these benefits and enjoying their tax cuts, now's the time to reap the fruits. You just gave me a tax cut and I assume we don't want to rescind that, so the only way to bring the budget into balance is to make these Boomers face reality. We can't fill their prescriptions anymore, nor can they go to the doctor.
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"Your" President cut Payroll taxes, not any Republican but then again you continue to show that you have no idea what taxes you pay or their purpose. FIT and corporate taxes have absolutely nothing to do with SS and Medicare. Please take a class so you stop looking foolish.
 
Conservative said:
"Your" President cut Payroll taxes, not any Republican but then again you continue to show that you have no idea what taxes you pay or their purpose. FIT and corporate taxes have absolutely nothing to do with SS and Medicare. Please take a class so you stop looking foolish.
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Payroll taxes only cover Part A. Hospital services. We need income taxes to pay for the rest--e.g., physician services, prescription drugs, etc. Always have. I thought we were in agreement that ought not be raising taxes to save Boomers from the shortsightedness of their own fiscal philosophies! Now I'm not sure what your position is.
 
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