• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

How big will this year's deficit be?

Dittohead not!

Dittohead not!

master political analyst
DP Veteran
Joined
Dec 3, 2009
Messages
52,009
Reaction score
33,944
Location
The Golden State
Gender
Male
Political Leaning
Independent
It started out as an estimate of one trillion. Add to that the 2.2 trillion bailout just passed, and you have 3.2 trillion. Add to that the decrease in revenue due to the lockdown, and we have maybe another trillion or so.


I'm estimating 4 trillion, or more than the federal government normally takes in in taxes in a year.


Anyone else find these figures disconcerting? How long can that sort of deficit spending be sustained before the dollar collapses?


oh, and a trillion is such a large number most of us can't imagine it. Divide that trillion by 200 million, roughly the adult population of the USA, and four trillion is about $20,000 for every adult in America.


If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
 
Dittohead not! said:
It started out as an estimate of one trillion. Add to that the 2.2 trillion bailout just passed, and you have 3.2 trillion. Add to that the decrease in revenue due to the lockdown, and we have maybe another trillion or so.


I'm estimating 4 trillion, or more than the federal government normally takes in in taxes in a year.


Anyone else find these figures disconcerting? How long can that sort of deficit spending be sustained before the dollar collapses?


oh, and a trillion is such a large number most of us can't imagine it. Divide that trillion by 200 million, roughly the adult population of the USA, and four trillion is about $20,000 for every adult in America.


If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
Click to expand...
I don't want to even think about and nothing will be done about it either, because politicians don't want to cut spending!!
 
Dittohead not! said:
If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
Click to expand...

The difference is that the US government has a printing press to print an endless supply of dollars and you don't.

If it will make you feel any better, there are about a half a dozen other countries that are in much worse shape debt-wise.
 
aociswundumho said:
The difference is that the US government has a printing press to print an endless supply of dollars and you don't.

If it will make you feel any better, there are about a half a dozen other countries that are in much worse shape debt-wise.
Click to expand...

I also recall other countries simply printing more money to make up for deficits, and the value of their money collapsing.

Didn't that happen at one time in Brazil, Argentina, and Italy, or is my memory of that wrong?
 
Dittohead not! said:
It started out as an estimate of one trillion. Add to that the 2.2 trillion bailout just passed, and you have 3.2 trillion. Add to that the decrease in revenue due to the lockdown, and we have maybe another trillion or so.


I'm estimating 4 trillion, or more than the federal government normally takes in in taxes in a year.


Anyone else find these figures disconcerting? How long can that sort of deficit spending be sustained before the dollar collapses?


oh, and a trillion is such a large number most of us can't imagine it. Divide that trillion by 200 million, roughly the adult population of the USA, and four trillion is about $20,000 for every adult in America.


If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
Click to expand...

Capitalism is a damn expensive system to support and it will only get worse.
 
Dittohead not! said:
It started out as an estimate of one trillion. Add to that the 2.2 trillion bailout just passed, and you have 3.2 trillion. Add to that the decrease in revenue due to the lockdown, and we have maybe another trillion or so.


I'm estimating 4 trillion, or more than the federal government normally takes in in taxes in a year.


Anyone else find these figures disconcerting? How long can that sort of deficit spending be sustained before the dollar collapses?


oh, and a trillion is such a large number most of us can't imagine it. Divide that trillion by 200 million, roughly the adult population of the USA, and four trillion is about $20,000 for every adult in America.


If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
Click to expand...

I think your numbers are correct. $4 trillion sounds about right. But then again, another $250 is needed right away for the PPA and congress is talking about yet another stimulus package, so who knows? We might see a five trillion dollar deficit. None of this funny-money spending might be enough to keep us out of a global depression so deficits could actually even from from here. We might be ****ed.
 
Dittohead not! said:
I also recall other countries simply printing more money to make up for deficits, and the value of their money collapsing.

Didn't that happen at one time in Brazil, Argentina, and Italy, or is my memory of that wrong?
Click to expand...

And in Germany, Hungary, and now in Venezuela. There's no question the dollar will collapse, it's just a matter of when.

You'll see it coming. Be smart and protect yourself.
 
Don't worry about it. We're gonna borrow that money from the Chinese. But we ain't never gonna pay it back. So long as we can pay just the interest we'll be fine. And right now that interest is only $1 out of $10 tax dollars collected. Double the debt and it's still only 20% of the federal budget to make those interest payments. We can do that. Just cut down on a few luxury items like defense, Medicare and Social Security.
 
what's after a Gazillion?


WHERE IS THE TEA PARTY????
 
aociswundumho said:
And in Germany, Hungary, and now in Venezuela. There's no question the dollar will collapse, it's just a matter of when.

You'll see it coming. Be smart and protect yourself.
Click to expand...

I recall right wing rant radio advertising "buy gold" during the Obama Administration because the dollar could collapse due to there being a Democrat in the White House. Their ads actually had the effect of inflating the price of gold so that people who followed their advice wound up losing money.

Maybe now really is the time to invest in precious metals.
 
Dittohead not! said:
I recall right wing rant radio advertising "buy gold" during the Obama Administration because the dollar could collapse due to there being a Democrat in the White House. Their ads actually had the effect of inflating the price of gold so that people who followed their advice wound up losing money.

Maybe now really is the time to invest in precious metals.
Click to expand...

Now is the time to invest in oil ;)
 
Dittohead not! said:
It started out as an estimate of one trillion. Add to that the 2.2 trillion bailout just passed, and you have 3.2 trillion. Add to that the decrease in revenue due to the lockdown, and we have maybe another trillion or so.


I'm estimating 4 trillion, or more than the federal government normally takes in in taxes in a year.


Anyone else find these figures disconcerting? How long can that sort of deficit spending be sustained before the dollar collapses?


oh, and a trillion is such a large number most of us can't imagine it. Divide that trillion by 200 million, roughly the adult population of the USA, and four trillion is about $20,000 for every adult in America.


If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
Click to expand...
It's a humongous problem. Who's going to buy all that debt? What's the service on that debt going to do to budgets. Deep doo-doo ahead.
 
Bullseye said:
It's a humongous problem. Who's going to buy all that debt? What's the service on that debt going to do to budgets. Deep doo-doo ahead.
Click to expand...

And now we are in the middle of a mess
what happened to reducing the Deficit / debt under Trump in the first two years of him being in office when the Republicans had complete control of the Gov,
and I am sure the right won't say a word about those first two years and try to blame everything on the Dems who took over the House a year ago
Yes right now we have a major problem right now and with everything being shut down we need to keep things going so the stimulus is going to run up the deficit / debt that is understandable but running up the deficit / debt as much as Trump has in his first two years in office isn't seeing he said we had a great economy,
in a great economy there is no reason for the deficit /debt to go up as high as it did
Have a nice evening
 
Tbird19482 said:
And now we are in the middle of a mess
what happened to reducing the Deficit / debt under Trump in the first two years of him being in office when the Republicans had complete control of the Gov,
and I am sure the right won't say a word about those first two years and try to blame everything on the Dems who took over the House a year ago
Yes right now we have a major problem right now and with everything being shut down we need to keep things going so the stimulus is going to run up the deficit / debt that is understandable but running up the deficit / debt as much as Trump has in his first two years in office isn't seeing he said we had a great economy,
in a great economy there is no reason for the deficit /debt to go up as high as it did
Have a nice evening
Click to expand...
Are you ****ting me? In the middle of a massive health crisis you're gonna piss and moan that a campaign promise made by every presidential candidate in the pass century (hyperbole alert)? Be serious.
 
Dittohead not! said:
It started out as an estimate of one trillion. Add to that the 2.2 trillion bailout just passed, and you have 3.2 trillion. Add to that the decrease in revenue due to the lockdown, and we have maybe another trillion or so.


I'm estimating 4 trillion, or more than the federal government normally takes in in taxes in a year.


Anyone else find these figures disconcerting? How long can that sort of deficit spending be sustained before the dollar collapses?


oh, and a trillion is such a large number most of us can't imagine it. Divide that trillion by 200 million, roughly the adult population of the USA, and four trillion is about $20,000 for every adult in America.


If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
Click to expand...

What is happening is killing the economy. We are going to see inflation go through the roof in a couple of years. That's makes the debt seem manageable. It will kill anyone on a fixed pension but that what will do it.
 
Last edited:
Dittohead not! said:
It started out as an estimate of one trillion. Add to that the 2.2 trillion bailout just passed, and you have 3.2 trillion. Add to that the decrease in revenue due to the lockdown, and we have maybe another trillion or so.


I'm estimating 4 trillion, or more than the federal government normally takes in in taxes in a year.


Anyone else find these figures disconcerting? How long can that sort of deficit spending be sustained before the dollar collapses?


oh, and a trillion is such a large number most of us can't imagine it. Divide that trillion by 200 million, roughly the adult population of the USA, and four trillion is about $20,000 for every adult in America.


If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
Click to expand...

Corporate taxes will have to be raised, no way around it this time.
 
Bullseye said:
Are you ****ting me? In the middle of a massive health crisis you're gonna piss and moan that a campaign promise made by every presidential candidate in the pass century (hyperbole alert)? Be serious.
Click to expand...
Go back and reread what I posted
it is understandable that the Deficit / debt will go up in times like this,
We have to keep things going now
I was asking WHY the deficit / Debt has gone up so much under Trump and the Republican controlled Congress ( in a "Great economy ) in his first two years
and you Republicans can't blame the Dems for that seeing the Republicans had COMPLETE control of the US gov. in those first two years and the deficit /debt didn't go up that much in his third year in office
and again when this mess hit the fan Trump was not responsible for it and I know the deficit/ debt is going to go up just like it had to when Obama took over from Bush in a Recession
and another one of my points was The Republicans and Trump all said they were going to CUT the deficit /debt and what happened it went UP almost as much as it did in Obama's first two years and that is in a good economy
and ( I know Trump has to keep the economy going ) the debt will be more in Trumps first 4 years then it was in Obama's and remember Obama had a recession handed to him by Bush Trump has had 3 years of a Good economy
Have a nice night
 
We can still mint the twenty quadinterseptrillion dollar coin. Then we can all be happy forever after we give it to a rich guy. He'll throw it back to us like a big game of fetch! Of course, he'll palm it on the first throw, but oh, how we'll all run!
 
Tbird19482 said:
And now we are in the middle of a mess
what happened to reducing the Deficit / debt under Trump in the first two years of him being in office when the Republicans had complete control of the Gov,
and I am sure the right won't say a word about those first two years and try to blame everything on the Dems who took over the House a year ago
Yes right now we have a major problem right now and with everything being shut down we need to keep things going so the stimulus is going to run up the deficit / debt that is understandable but running up the deficit / debt as much as Trump has in his first two years in office isn't seeing he said we had a great economy,
in a great economy there is no reason for the deficit /debt to go up as high as it did
Have a nice evening
Click to expand...

I have never heard anyone say that Trump is a fiscal conservative. He doesn't believe debt matters. Thr non-Left doesn't march to the orders of their party.
 
Tbird19482 said:
Go back and reread what I posted
it is understandable that the Deficit / debt will go up in times like this,
We have to keep things going now
I was asking WHY the deficit / Debt has gone up so much under Trump and the Republican controlled Congress ( in a "Great economy ) in his first two years
and you Republicans can't blame the Dems for that seeing the Republicans had COMPLETE control of the US gov. in those first two years and the deficit /debt didn't go up that much in his third year in office
and again when this mess hit the fan Trump was not responsible for it and I know the deficit/ debt is going to go up just like it had to when Obama took over from Bush in a Recession
and another one of my points was The Republicans and Trump all said they were going to CUT the deficit /debt and what happened it went UP almost as much as it did in Obama's first two years and that is in a good economy
and ( I know Trump has to keep the economy going ) the debt will be more in Trumps first 4 years then it was in Obama's and remember Obama had a recession handed to him by Bush Trump has had 3 years of a Good economy
Have a nice night
Click to expand...
"gone up so much under Trump? This will be his first year of trillion dollar deficits; Obama had four. Look to spending - neither Obama nor Trump are known as penny pinchers, nor is congress.
 
Tbird19482 said:
Go back and reread what I posted
it is understandable that the Deficit / debt will go up in times like this,
We have to keep things going now
I was asking WHY the deficit / Debt has gone up so much under Trump and the Republican controlled Congress ( in a "Great economy ) in his first two years
and you Republicans can't blame the Dems for that seeing the Republicans had COMPLETE control of the US gov. in those first two years and the deficit /debt didn't go up that much in his third year in office
and again when this mess hit the fan Trump was not responsible for it and I know the deficit/ debt is going to go up just like it had to when Obama took over from Bush in a Recession
and another one of my points was The Republicans and Trump all said they were going to CUT the deficit /debt and what happened it went UP almost as much as it did in Obama's first two years and that is in a good economy
and ( I know Trump has to keep the economy going ) the debt will be more in Trumps first 4 years then it was in Obama's and remember Obama had a recession handed to him by Bush Trump has had 3 years of a Good economy
Have a nice night
Click to expand...

Umm, just so you know. With the 60 vote rule, the Republicans did not control Congress.
 
captdon said:
Umm, just so you know. With the 60 vote rule, the Republicans did not control Congress.
Click to expand...

Oh they didn't?
interesting they passed a tax cut and they didn't even let the Dems have a say in it , At least when the Dems passed the ACA they let the Republicans have a say what was in the bill
and IF you do some research you will find out it was passed in a reconciliation period and it needed just a majority NOT a 60 vote in the Senate
so the Tax bill was passed by a completely Republican controlled Congress and the Dems had nothing to do with it
Have a nice night
 
Dittohead not! said:
It started out as an estimate of one trillion. Add to that the 2.2 trillion bailout just passed, and you have 3.2 trillion. Add to that the decrease in revenue due to the lockdown, and we have maybe another trillion or so.


I'm estimating 4 trillion, or more than the federal government normally takes in in taxes in a year.


Anyone else find these figures disconcerting? How long can that sort of deficit spending be sustained before the dollar collapses?


oh, and a trillion is such a large number most of us can't imagine it. Divide that trillion by 200 million, roughly the adult population of the USA, and four trillion is about $20,000 for every adult in America.


If my MasterCard had that much on it, and I didn't have that amount ready to pay it off, I'd be worried. Wouldn't you?
Click to expand...

I guess Trump's trillion dollar deficit wasn't such a good idea was it. The deficit will be over 3 trillion for this year, I'm guessing over 4 trillion. The best thing we can do is keep interest rates low, increase inflation, and balance the budget after this crisis.
 
Bullseye said:
"gone up so much under Trump? This will be his first year of trillion dollar deficits; Obama had four. Look to spending - neither Obama nor Trump are known as penny pinchers, nor is congress.
Click to expand...
I see you have forgotten that Obama took over a recession from Bush and the only way to get out of a recession / depression that bad is either spend your way out or have a war like WWII
and my question has been why did the deficit /debt keep going up under Trump when he said he was going to cut the deficit / debt and he didn't and it has gone up and up.
He has already run the debt up almost as much as Obama did and if we need another stimulus it will be up more in his first 4 years in office then it went up in Obama's first four years and iF you remember we were in a " great economy " as Trump said
I am not even including what has happened this year
have a nice night
 
You must log in or register to reply here.
Back
Top Bottom