Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and that is a c

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Huey Freeman said:

That's not the point. We all know Obama is the worst President ever so it is unclear why the right keeps bringing him up. Obama is gone. The point is that Trump and the GOP were elected on a platform of fiscal responsibility and they have not done what they promised. As a liberal, this is actually surprising, because I was naive enough to believe that Republicans were genuine about their feelings about debt. It is clear now that their objection wasn't to the debt, but the fact that Obama was President. The good thing about Trump is that Republicans are no longer persuasive when they talk about the debt when they have burdened future generations with a $1.5 trillion tax cut in 2017. This tax cut supercharged the economy in 2018 and the sugar high is giving way to a looming recession. When Democrats get in power, they should not worry about paying for any of their programs and ignore criticism from Republicans who only use the debt as a sword and shield to attack Democratic policy prescriptions.

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What exactly did they promise? And how do you expect them to do that given less than commanding majorities in both Houses? BTW I don't recall any serious Republican campaign on a fiscal austerity platform.

You do know that the Dem House is writing the appropriation bills, right? Yeah, the GOP Senate COULD block them but then the government shuts down. Budget process isn't as black and white as Dem vs GOP.

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Bullseye said:

LOL, yeah, but the people I voted against would have done a worse job. I'm not trying to this a partisan thing. I've believed for decades that leaving more of what they earn in the hands of those that earn it is far more productive than sending it to a gaggle of empty suits in Washington to allocate in ways to ensure their permanent ensconcement in the halls of power.

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Your party failed you.

But better than lagging further and further behind. Spending hasn't tracked the baseline that well either.

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No data but a lofty claim! Garbage posts such as this have sapped you of any credibility.

2017 baseline revenue for FY 2018 was $3604 billion

2017 baseline expenditures for 2018 were $4091 billion

2018 actual revenues were $3329 billion

2018 actual expenditures were $4108 billion

So once again... you are off base, and that stems from being extremely ignorant of the data while pretending like what you say carries value.

Source

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Bullseye said:

What exactly did they promise? And how do you expect them to do that given less than commanding majorities in both Houses? BTW I don't recall any serious Republican campaign on a fiscal austerity platform.

You do know that the Dem House is writing the appropriation bills, right? Yeah, the GOP Senate COULD block them but then the government shuts down. Budget process isn't as black and white as Dem vs GOP.

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Is this a joke? Trump promised to get rid of $19 trillion dollars in debt in 8 years. (Cite*: Trump-O-Meter: Eliminate the federal debt in 8 years | PolitiFact) Those were his words. The facts now show that Trump is going in the opposite direction. Did you not read Paul Ryan, then House Majority Leader, writing on the debt in his book? (Cite*: The Way Forward: Renewing the American Idea - Wikipedia) He willfully advocates for austerity. (Cite*: https://www.washingtonpost.com/news/wonk/wp/2013/03/12/paul-ryans-budget-isnt-about-the-deficit/) But, hey, don't let facts get in the way of the hatred for Democrats.


* I only offer cites as a formality, I know this message board does not care whether or not an assertion is properly sourced or not.

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Huey Freeman said:

Is this a joke? Trump promised to get rid of $19 trillion dollars in debt in 8 years. (Cite*: Trump-O-Meter: Eliminate the federal debt in 8 years | PolitiFact) Those were his words. The facts now show that Trump is going in the opposite direction. Did you not read Paul Ryan, then House Majority Leader, writing on the debt in his book? (Cite*: The Way Forward: Renewing the American Idea - Wikipedia) He willfully advocates for austerity. (Cite*: https://www.washingtonpost.com/news/wonk/wp/2013/03/12/paul-ryans-budget-isnt-about-the-deficit/) But, hey, don't let facts get in the way of the hatred for Democrats.


* I only offer cites as a formality, I know this message board does not care whether or not an assertion is properly sourced or not.

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No joke, I'm just experienced enough to know politicians say a lot of things that don't happen. Remember "if you like your doctor . . ."? Wasn't it Politifact that awarded that one "Lie of the Year"?


Oh, whatever happened to Paul Ryan?

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Kushinator said:

Your party failed you. [/quo ote] I know better than to place religious fervor in a political parties. The GOP has done some good things, I don't expect perfection, nor do I expect to be pleased with everything they do. It's called the real world, you should join me here.

Kushinator said:

No data but a lofty claim! Garbage posts such as this have sapped you of any credibility.

2017 baseline revenue for FY 2018 was $3604 billion

2017 baseline expenditures for 2018 were $4091 billion

2018 actual revenues were $3329 billion

2018 actual expenditures were $4108 billion

So once again... you are off base, and that stems from being extremely ignorant of the data while pretending like what you say carries value.

Source

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Baseline is a political construct with little real world value. YOUR link is a page with dozens of links on it and you want to accuse me of credibility issues? hypocrite much?

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Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

ttwtt78640 said:

What is also "simply reality" is that cutting 100% of non-defense, discretionary spending (just for a start?) would not eliminate the deficit. That leaves the "third rail" of cutting national defense and/or major entitlement programs (e.g. Social Security and Medicare) as the only way to git-r-done by "simply" cutting spending - we all know that is "off the table" since it would be require committing political suicide to do so.

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Why do the people on the right keep putting SS and Medicare into " entitlement " programs with things like welfare and medicaid ?
SS and medicare ARE entitlement programs per say , the people who paid into those programs ARE entitled to get their money back.
and the Government has set it up where the only one that can " Buy " the bonds that the SS system " sells " is the US Government
and they have used it to balance the budget and keep from increasing the FIT.
so now it is time to pay it back
there is over 1.7 Trillion dollars in the SS trust fund that the Government " borrowed " and the right is complaining about having to pay it back
We paid into it and we deserve to be paid back with interest.
about the only way we are going to get this under control is have a Balanced Budget Amendment with some teeth in it so the only way we can run a deficit is a war or another recession / Depression
and put a 1% sales tax on that would ONLY be used to pay off the debt and when the debt is paid off the sales tax would be stopped and would ONLY be re instated IF we ever had another debt.
have a nice day

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Tbird19482 said:

Why do the people on the right keep putting SS and Medicare into " entitlement " programs with things like welfare and medicaid ?
SS and medicare ARE entitlement programs per say , the people who paid into those programs ARE entitled to get their money back.
and the Government has set it up where the only one that can " Buy " the bonds that the SS system " sells " is the US Government
and they have used it to balance the budget and keep from increasing the FIT.
so now it is time to pay it back
there is over 1.7 Trillion dollars in the SS trust fund that the Government " borrowed " and the right is complaining about having to pay it back
We paid into it and we deserve to be paid back with interest.
about the only way we are going to get this under control is have a Balanced Budget Amendment with some teeth in it so the only way we can run a deficit is a war or another recession / Depression
and put a 1% sales tax on that would ONLY be used to pay off the debt and when the debt is paid off the sales tax would be stopped and would ONLY be re instated IF we ever had another debt.
have a nice day

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We do not need a new federal sales/VAT tax - we need congress critters that can do basic math and stop pandering to special interests. The only way that will happen is for the sheeple to refuse to re-elect over 90% of the same borrow and spend morons over and over.

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Bullseye said:

No joke, I'm just experienced enough to know politicians say a lot of things that don't happen. Remember "if you like your doctor . . ."? Wasn't it Politifact that awarded that one "Lie of the Year"?


Oh, whatever happened to Paul Ryan?

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I swear to God, conservatives cannot come up with a sentence without a noun, a verb, and Obama. I reject whataboutism. Trump promised something and your response is something Obama said. If you can come up with an argument that does not rely on whataboutism, then I'll consider it. Till then, I'm out.

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

ttwtt78640 said:

We do not need a new federal sales/VAT tax - we need congress critters that can do basic math and stop pandering to special interests. The only way that will happen is for the sheeple to refuse to re-elect over 90% of the same borrow and spend morons over and over.

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Hello I said have a Balanced budget amendment with some real teeth in it so they could not over spend only in time of war or a sever recession / depression
then have the 1 % sales tax to pay off the debt and when the debt is paid off it would be rescinded and could only be reinstated again IF we ran a debt because of a war or Recession / depression
Do you have a better idea to get this debt of ours paid off.
Having a 1% sales tax would mean everybody would pay it and there shouldn't be any exceptions
everybody got a benefit from running up the debt so everybody should help pay it off
Having a 1% sales tax to pay off the debt would be better then keep running it up and having to pay more interest on it
Have a nice day

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Tbird19482 said:

Hello I said have a Balanced budget amendment with some real teeth in it so they could not over spend only in time of war or a sever recession / depression
then have the 1 % sales tax to pay off the debt and when the debt is paid off it would be rescinded and could only be reinstated again IF we ran a debt because of a war or Recession / depression
Do you have a better idea to get this debt of ours paid off.
Having a 1% sales tax would mean everybody would pay it and there shouldn't be any exceptions
everybody got a benefit from running up the debt so everybody should help pay it off
Having a 1% sales tax to pay off the debt would be better then keep running it up and having to pay more interest on it
Have a nice day

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Starting your plan of action with the need for two constitutional amendments makes it extremely unlikely to ever happen.

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

ttwtt78640 said:

In other words, we are destined to let the federal government continue to grow and amass ever more debt until Austerity Day places the nation into utter chaos.

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If the federal government ever needed to extinguish its liabilities, then you might have a point. But they don't.

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Huey Freeman said:

I swear to God, conservatives cannot come up with a sentence without a noun, a verb, and Obama. I reject whataboutism. Trump promised something and your response is something Obama said. If you can come up with an argument that does not rely on whataboutism, then I'll consider it. Till then, I'm out.

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IF you're going to continually blather on and on about what Trump "promised" what your beloved Dear Leader "promised" is germane to the discussion. Waving the "whataboutism" flag is a chicken poop attempt to deflect the discussion and hide the waver's hypocrisy.

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Bullseye said:

Kushinator said:

Your party failed you. [/quo ote] I know better than to place religious fervor in a political parties. The GOP has done some good things, I don't expect perfection, nor do I expect to be pleased with everything they do. It's called the real world, you should join me here.


Baseline is a political construct with little real world value. YOUR link is a page with dozens of links on it and you want to accuse me of credibility issues? hypocrite much?

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2017 and 2019 data set baseline projections are available in that link. There is no need to question the validity of my statements... I am more than familiar with said data.

Your clearly not even aware of its existence.

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Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Kushinator said:

Bullseye said:

2017 and 2019 data set baseline projections are available in that link.

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so were dozens of other documents.

Kushinator said:

There is no need to question the validity of my statements... I am more than familiar with said data.

Your clearly not even aware of its existence.

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In how many years do actual income and spending match baseline? It's a bureaucratic tool with limited real world meaning.

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Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

ttwtt78640 said:

Starting your plan of action with the need for two constitutional amendments makes it extremely unlikely to ever happen.

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where did I suggest TWO Constitutional amendments?
Just one a Balanced budget amendment with some teeth in it so Congress and the President can NOT spend any more then we take in.
and then a one percent sales tax that would be used ONLY to pay off the debt and would be rescinded agter it is paid off.
Everybody including Corps.
NO exceptions and it would not be deductible as an expense on any FIT or Corp. tax.
we could have the debt paid off in a few years and be saving on the interest expense we pay now.
and that money could be used for something else
maybe even another tax cut as long as we have that balanced budget amendment
have a nice night

Re: Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and tha

Bullseye said:

so were dozens of other documents.

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We were discussing baseline budget projections. Would it make it easier for you if i linked the excel documents for January 2017 and January 2019? :lol:

In how many years do actual income and spending match baseline? It's a bureaucratic tool with limited real world meaning.

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More ignorance.

It's not about matching... it's about understanding how new laws and catalysts impact the budget. Notice how you made a statement pertaining to spending being higher than the baseline, only to contradict your own statement once your reasoning was shown to be invalid. Trump economic policy has driven the deficit to $1 trillion with unemployment less than 4%.

Once again... your ideology has failed you.