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Current US Federal Budget Deficit

Conservative said:
Have you bothered to point out the April deficit and mentioned what affect the 263,000 jobs and growing economy will have on the deficit for 2019? Seems that all you ever do is promote negative news, never context and always short term thinking promoting liberalism. America has to fail for people like you to win.
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As in most years, April is a surplus month because income tax payments arrive. April 2019 was the smallest in years, $160.3 billion. April 2017 was $214.3 billion under old tax-rates and 2016 was $182.4 billion.

Have you bothered to point out the April deficit and mentioned what affect the 263,000 jobs and growing economy will have on the deficit for 2019?
Let's tackle that question. Typically, when an economy is growing an jobs are plentiful, the deficit shrinks, not grows.
 
MTAtech said:
As in most years, April is a surplus month because income tax payments arrive. April 2019 was the smallest in years, $160.3 billion. April 2017 was $214.3 billion under old tax-rates and 2016 was $182.4 billion.

Have you bothered to point out the April deficit and mentioned what affect the 263,000 jobs and growing economy will have on the deficit for 2019?
Let's tackle that question. Typically, when an economy is growing an jobs are plentiful, the deficit shrinks, not grows.
Click to expand...

So the deficit still isn't projected to be a trillion dollars and yet for some reason this is an issue for you as it wasn't when Obama added 9.3 trillion in deficits in 8 years. why the double standard? It really bothers you that people are keeping more of what they earn which never happened during the Obama term and till 9.3 trillion in deficits. People keeping more of what they earn means less need for that massive central gov't you keep promoting.

You also seem to want to ignore that Democrats control the House thus spending proposals. what exactly have they proposed to cut the deficit? Think the Green Energy pr Medicare for all is going to do that?

You keep promoting failure and I will keep beating you up with reality
 
Media_Truth said:
This website analyzes the budget and forecasts the deficit. The deficit is heading to well over a $Trillion.

Current US Federal Budget Deficit: Causes, Effects

The U.S. federal budget deficit for fiscal year 2020 is $1.103 trillion. FY 2020 covers October 1, 2019, through September 30, 2020. The deficit occurs because the U.S. government spending of $4.746 trillion is higher than its revenue of $3.643 trillion.
...
Many people blame the deficits on entitlement programs. But that's not supported by the budget. These enormous deficits are the result of three factors.

First, the attacks on 9/11 led to the War on Terror. It's added $2.4 trillion to the debt since 2001. It almost doubled annual military spending. It rose from $111.9 billion in 2003 to a peak of $150.8 billion in 2019. That includes the defense department budget and off-budget emergency spending, and increases for the Department of Veterans Affairs.
...
The Trump administration will set new records of defense spending. It is estimated to reach $989 billion. That adds spending for departments that support defense, such as Homeland Security, and the National Nuclear Security Administration.

U.S. military spending is greater than those of the next 10 largest government expenditures combined. It's four times greater than China's military budget, and 10 times bigger than Russia's defense spending. It's difficult to reduce the budget deficit without cutting U.S. defense spending.
...
Second is the impact of tax cuts. They immediately reduce revenue for each dollar cut. Proponents of supply-side economics argue that the government will recoup that loss over the long term by boosting economic growth and the tax base. But the National Bureau of Economic Research found that only 17% of the revenue from income tax cuts was regained. It also found that 50% of the revenue from corporate tax cuts was lost.

View attachment 67256224
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How come only Democrats care about the national debt and deficits when there are Republican presidents like Trump, Bush and Reagan? But don't give a darn about them when there is a Democratic President like Obama and Bill Clinton.

Of course the reverse is true, Republicans only care about national debt and deficits when there is a Democratic president, but don't give an owl's hoot about them when there is a Republican President?

The same can be said about raising the national debt. A Democratic President, almost all Democrats vote for raising it, almost all Republicans against raising it. A Republican president, the reverse is true. Almost all Republicans vote to raise, almost all Democrats vote against raising it.

One can only come to one conclusion, neither party has core values. All they do is spout rhetoric/propaganda in an attempt to gain political advantage. Perhaps it's time for those who are members, affiliate or identify with our two major parties to ditch them and start looking for a political party that actually stands for something. A party where the rhetoric and actions are the same. If there isn't any, perhaps it is time to start one or two, to begin anew.
 
Conservative said:
So the deficit still isn't projected to be a trillion dollars and yet for some reason this is an issue for you as it wasn't when Obama added 9.3 trillion in deficits in 8 years. why the double standard? It really bothers you that people are keeping more of what they earn which never happened during the Obama term and till 9.3 trillion in deficits. People keeping more of what they earn means less need for that massive central gov't you keep promoting.

You also seem to want to ignore that Democrats control the House thus spending proposals. what exactly have they proposed to cut the deficit? Think the Green Energy pr Medicare for all is going to do that?

You keep promoting failure and I will keep beating you up with reality
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I've explained 100 times why a deficit is less important when unemployment is high than when it is low. I have no intention of repeating it again for someone who has a closed mind.
 
MTAtech said:
I've explained 100 times why a deficit is less important when unemployment is high than when it is low. I have no intention of repeating it again for someone who has a closed mind.
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no you haven't explained it at all nor do you understand it as it isn't discretionary spending that is driving the deficit it is entitlement spending and you don't know the difference.
 
Conservative said:
So the deficit still isn't projected to be a trillion dollars and yet for some reason this is an issue for you as it wasn't when Obama added 9.3 trillion in deficits in 8 years. why the double standard? It really bothers you that people are keeping more of what they earn which never happened during the Obama term and till 9.3 trillion in deficits. People keeping more of what they earn means less need for that massive central gov't you keep promoting.

You also seem to want to ignore that Democrats control the House thus spending proposals. what exactly have they proposed to cut the deficit? Think the Green Energy pr Medicare for all is going to do that?

You keep promoting failure and I will keep beating you up with reality
Click to expand...

Obama didnt add 9.3 trillion. He added 8 trillion.
 
MTAtech said:
As in most years, April is a surplus month because income tax payments arrive. April 2019 was the smallest in years, $160.3 billion. April 2017 was $214.3 billion under old tax-rates and 2016 was $182.4 billion.

Have you bothered to point out the April deficit and mentioned what affect the 263,000 jobs and growing economy will have on the deficit for 2019?
Let's tackle that question. Typically, when an economy is growing an jobs are plentiful, the deficit shrinks, not grows.
Click to expand...

I didn't realize the April numbers are out, and the surplus is more than $50 billion less than 2017. I figured that would be the case, with the Trump billionaire tax cuts. Yes, our deficit is heading towards $1 Trillion. I've posted it before, and I'll post it again - REPUBLICANS = HIGHER DEFICITS.
 
RabidAlpaca said:
Yet it seems that Republicans despite all their talk seem to be the worst offenders. Why do you guys only care about the deficit and government finances when a Dem is president? Where's the extreme outrage over Trump and the Republican Congress' deficit spending?

Republicans never run out of other people's money when it's things they want.
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This is the best joke the GOP has pulled on their base. Deficit hawks when a democrat is in office, spending like drunken sailors when in power. It's an historical fact R's run up the deficit way more when in power and when out of power, oops sorry america no money to fix your street.
 
Perotista said:
How come only Democrats care about the national debt and deficits when there are Republican presidents like Trump, Bush and Reagan? But don't give a darn about them when there is a Democratic President like Obama and Bill Clinton.
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Both Clinton and Obama lowered the deficit over the course of their terms. Republicans do the opposite. That's why it becomes more of a topic under GOP administrations.
 
Greenbeard said:
Both Clinton and Obama lowered the deficit over the course of their terms. Republicans do the opposite. That's why it becomes more of a topic under GOP administrations.
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The partisan ignorance here is staggering, we don't pay deficit service we pay debt service and lowering the deficit may make you feel good but Clinton added 1.4 trillion to the debt and Obama 9.3 trillion more than Reagan, GHW and GW Bush combined in 20 years

The ignorance of the budget process is also amazingly partisan and shows complete lack of understanding. Budget requests are submitted by the President and approved OR rejected by Congress. No President spends a dime without Congressional approval and all those posts claiming that the deficits are higher during a Republican Administration vs. a Democratic Administrations ignores Congress. Clinton had a GOP Congress 6 out of his 8 years in office. Obama with a Democratic Congress and 4 straight years of trillion dollar deficits.

You people can continue to try to re-write history but you cannot change it. The budget of the United States has two parts, Discretionary and Mandatory with Mandatory spending making up the lion's share of the budget and that is Inter-Gov't holdings for Federal Pensions, SS and Medicare.

When you tie Presidents to deficits while ignoring mandatory spending you show your ignorance and have zero credibility. You appeal only to others with the same lack of understanding so by all means keep showing how poorly educated you are on this subject and keep letting the left make a fool out of you
 
Media_Truth said:
I didn't realize the April numbers are out, and the surplus is more than $50 billion less than 2017. I figured that would be the case, with the Trump billionaire tax cuts. Yes, our deficit is heading towards $1 Trillion. I've posted it before, and I'll post it again - REPUBLICANS = HIGHER DEFICITS.
Click to expand...

Post 87 explains it to you in terms that most people will understand, probably not partisans like you
 
Media_Truth said:
This website analyzes the budget and forecasts the deficit. The deficit is heading to well over a $Trillion.

Current US Federal Budget Deficit: Causes, Effects

The U.S. federal budget deficit for fiscal year 2020 is $1.103 trillion. FY 2020 covers October 1, 2019, through September 30, 2020. The deficit occurs because the U.S. government spending of $4.746 trillion is higher than its revenue of $3.643 trillion.
...
Many people blame the deficits on entitlement programs. But that's not supported by the budget. These enormous deficits are the result of three factors.

First, the attacks on 9/11 led to the War on Terror. It's added $2.4 trillion to the debt since 2001. It almost doubled annual military spending. It rose from $111.9 billion in 2003 to a peak of $150.8 billion in 2019. That includes the defense department budget and off-budget emergency spending, and increases for the Department of Veterans Affairs.
...
The Trump administration will set new records of defense spending. It is estimated to reach $989 billion. That adds spending for departments that support defense, such as Homeland Security, and the National Nuclear Security Administration.

U.S. military spending is greater than those of the next 10 largest government expenditures combined. It's four times greater than China's military budget, and 10 times bigger than Russia's defense spending. It's difficult to reduce the budget deficit without cutting U.S. defense spending.
...
Second is the impact of tax cuts. They immediately reduce revenue for each dollar cut. Proponents of supply-side economics argue that the government will recoup that loss over the long term by boosting economic growth and the tax base. But the National Bureau of Economic Research found that only 17% of the revenue from income tax cuts was regained. It also found that 50% of the revenue from corporate tax cuts was lost.

View attachment 67256224
Click to expand...

Isn't it about time that you stop posting charts without context totally ignoring discretionary vs. mandatory spending as well as who approves the budget?

In 2020 in a country of over 330 million Americans Trump has proposed a 1.4 Trillion dollar discretionary spending budget with the remaining over 3 trillion being entitlement/mandatory spending which is outside his control. Seems the radical left wants entitlements and buying votes then demonizes Republicans when the deficits caused by entitlement spending is what raises the deficit along with interest expense

Current US Discretionary Federal Budget and Spending
 
Conservative said:
Post 87 explains it to you in terms that most people will understand, probably not partisans like you
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Republicans set the table for debt. Like the Bush/Cheney worst recession since the Great Depression. Your dishonesty is staggering. REPUBLICANS = HIGHER DEFICITS!!!
 
Media_Truth said:
Republicans set the table for debt. Like the Bush/Cheney worst recession since the Great Depression. Your dishonesty is staggering. REPUBLICANS = HIGHER DEFICITS!!!
Click to expand...

Don't you think it is childish to one party or the other cares about deficits. The only real difference IMO between the two is WHAT they want to spend our money on and who they want to tax.
 
Media_Truth said:
Republicans set the table for debt. Like the Bush/Cheney worst recession since the Great Depression. Your dishonesty is staggering. REPUBLICANS = HIGHER DEFICITS!!!
Click to expand...

What is it about people like you who never accept responsibilities for anything and always place blame. I gave you the post 87 that explains it to you which of course you ignored. You think a 1.4 trillion dollar budget for discretionary spending is what causes debt and that Democrats have nothing to do with the debt? Who created the entitlement programs and if you think the 1.4 trillion budget is the cause you are like most liberals, out of touch with reality. You totally ignored post 87 and that says it all about you, a total biased, partisan liberal who isn't mature enough to admit when wrong
 
Greenbeard said:
Both Clinton and Obama lowered the deficit over the course of their terms. Republicans do the opposite. That's why it becomes more of a topic under GOP administrations.
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Obama raised the national debt by approximately 10 trillion. More than any other president, close to as much as all the other presidents put together. G.W. Bush close to 5 trillion, Bill 1.5 trillion which deserves credit to lowering the deficit to 19 billion in his last year, the amount the national debt increased. G.H.W Bush and Reagan each raised it close to 2 trillion.

But when you look at who controlled congress, especially the house where all spending bills, the budget originates, it's been a two party affair. The Democrats controlled the House during all of Reagan and the first Bush plus the first two years of Clinton. If we give Clinton credit for lower the deficit, we also have to give the Republican House credit also as neither could have done it alone. The first six years of G.W. Bush was a total Republican affair, although the last two years was with a Democratic congress.Approximately 2.4 trillion was added by the Democratic House during Bush's last two years.
 
Conservative said:
What is it about people like you who never accept responsibilities for anything and always place blame. I gave you the post 87 that explains it to you which of course you ignored. You think a 1.4 trillion dollar budget for discretionary spending is what causes debt and that Democrats have nothing to do with the debt? Who created the entitlement programs and if you think the 1.4 trillion budget is the cause you are like most liberals, out of touch with reality. You totally ignored post 87 and that says it all about you, a total biased, partisan liberal who isn't mature enough to admit when wrong
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All your posts are nothing but dishonest BS. You still won't admit that Trump and his merry band of Republicans held the House, the Senate, and the Presidency; and all they did was lower taxes for billionaires. Corporate tax reductions also favor billionaires. The billionaires now have the money, and the middle class gets the deficit.

corporate_Tax_Cuts_Benefit_Wealthy.webp
 
Media_Truth said:
All your posts are nothing but dishonest BS. You still won't admit that Trump and his merry band of Republicans held the House, the Senate, and the Presidency; and all they did was lower taxes for billionaires. Corporate tax reductions also favor billionaires. The billionaires now have the money, and the middle class gets the deficit.

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Class envy, jealousy, and hatred motivate people like you as you ignore history. Republicans controlled the Congress the last two years of the Obama term as well, when the deficit that you tout was being reduced, not when Democrats held Congress from 2007-2011 which of course never happened in that liberal world in which you live. I gave you the reality of post 87 and you ignored because like most liberals you cannot admit when wrong.

Still waiting for you to tell us how you give anyone a tax cut that doesn't pay Federal Income Taxes? For some reason you want to ignore that corporations hire people and are part of state and local communities and employees pay taxes. you and the other radicals are nothing but partisan liberal hacks promoting massive central gov't while refusing to acknowledge the economic results being generated now. Respond to POST 87!!
 
Greenbeard said:
Both Clinton and Obama lowered the deficit over the course of their terms. Republicans do the opposite. That's why it becomes more of a topic under GOP administrations.
Click to expand...

The deficit also decreased under Bush, before the recession.

2004 -412.7
2005 -318.3
2006 -248.2
2007 -160.7
 
Perotista said:
Obama raised the national debt by approximately 10 trillion. More than any other president, close to as much as all the other presidents put together. G.W. Bush close to 5 trillion, Bill 1.5 trillion which deserves credit to lowering the deficit to 19 billion in his last year, the amount the national debt increased. G.H.W Bush and Reagan each raised it close to 2 trillion.

But when you look at who controlled congress, especially the house where all spending bills, the budget originates, it's been a two party affair. The Democrats controlled the House during all of Reagan and the first Bush plus the first two years of Clinton. If we give Clinton credit for lower the deficit, we also have to give the Republican House credit also as neither could have done it alone. The first six years of G.W. Bush was a total Republican affair, although the last two years was with a Democratic congress.Approximately 2.4 trillion was added by the Democratic House during Bush's last two years.
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OK, so it's fair to give credit to Democrats for the tax cuts in 1981, and the economy that followed because Democrats controlled the House, and Reagan was just along for the ride. I'm good with that. What's a bit dishonest is giving Reagan all the glory, and blaming Democrats for the deficits. Same thing with Bush II. He and the GOP get all the political credit for the tax cuts and the bubble economy, and then we are blaming Democrats for the collapse in revenue and explosion in non-discretionary and discretionary spending to deal with the financial collapse and Great Recession on Bush's watch.
 
jonny5 said:
The deficit also decreased under Bush, before the recession.

2004 -412.7
2005 -318.3
2006 -248.2
2007 -160.7
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LOL, that's some world class cherry picking right there! You left out the part where Bush II inherited a surplus of $128B budget then after two tax cuts the deficit went to that $413, a swing of $540B to the negative, and even at the top of the biggest bubble in generations we still ran deficits. And of course revenues during a bubble are unsustainable and so collapsed when the bubble did.
 
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