[W:1422] Federal Deficit Soars

[JasperL]

Re: Federal Deficit Soars

Analysis - Reagan High deficits in 1980s. The start of the mess. George Bush continued with deficits.
And then look! Oh my! Starting in 1992, the deficit starts dropping. WTG Clinton/Gore! Wow! All the way to a surplus for 4 years, and beautifully handed off to GW Bush, who screwed everything up royally. Oil wars, etc. And then the pathetic hand-off to Obama - the worst since the great depression. Banking/Housing crisis, out-of-control billionaire CEOs ripping off Americans under the Bush-Cheney watch, Depressed 401Ks, 2 Wars, a bankrupt American auto industry, etc, etc. Obama had no choice but to clean up the Republican mess. Once that was done. Wow! Look at that! Deficit reduced every year from 2011 through 2015. How about that! But then look. Chump gets into office in 2016. Bang, crash, boom - deficit gone amuk.

REPUBLICANS = HIGH DEFICITS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Yeah, that's one of the reasons I gave up on the GOP and never have looked back. If you're actually "fiscally responsible" as opposed to "WANT MOR TAX CUTS!!!" then why vote Republican?

My good friend was/is a Democrat and we'd have these friendly debates about the budget, and he kept kicking my ass with the data. Finally got tired of the cognitive dissonance and had to change my opinion to the facts. The GOP is the party of tax cuts for the donor class, more spending, and bigger deficits.

It was a conscious strategy. Jude Wanniski coined it the Two Santa Clause theory. Essentially it was to be the party of tax cuts, but don't worry about corresponding spending cuts. Then when Democrats gained power, there would be huge pressure to raise taxes and/or cut spending, which is bad politically. And Democrats have played into GOP hands since Reagan.

 

[JasperL]

Re: Federal Deficit Soars

No, they are not in the numbers. Your source simply measures the dollar change in the debt. This doesn't take into account inflation, economic growth, or population growth.

Good luck with your argument. I've tried for years and never made headway. In "conservative" (both the person in the thread and in general in GOP circles) tax policy theory, inflation is ignored, population growth is ignored, and all economic growth following a tax cut is attributable to...the tax cut of course, so without the tax cut economic growth would have gone to 0% and stayed there for all time, presumably.

eace

 

[danielpalos]

Re: Federal Deficit Soars

we really just need a fifteen dollar an hour minimum wage, unemployment compensation for being unemployed on an at-will basis in our at-will employment States, and Industrial Automation to help with social costs.

 

[washunut]

Re: Federal Deficit Soars

I agree with almost all that, and I've said many times I supported in theory lowering corporate tax rates, although I have serious issues with the tax bill as enacted. But that's off topic really.

What I object to is simply the idea that there is a free lunch in economics and tax policy and the way to raise revenue is to lower tax rates for wealthy donors and powerful corporations, etc. Lower taxes are a good thing, but the inevitable trade-off for lower tax rates is SMALLER government, not bigger government.

Sorry for the delay in my response was out today. I could be wrong but I have a different take on lowering the corporate tax rate. I consider it a reasonable investment to make manufacturing more competitive here versus elsewhere. It may also have an impact on how foreign products products, such as those that go into the BMW plant for assembly. By that I mean the way companies compute their cross border transfer pricing. Not that hard to justify a different cost plus mark-up and have the auditors sign off. In fact I did just that when I moved to a new company and saw an opportunity. Everything done was above board but reviewed and adjusted certain elements as appropriate.

In addition if these rates stay in place beyond 2020 companies will move production to some extent. That not only brings more taxable income from corporations here but also adds personal and payroll taxes which would not have. How much that will be and will it offset the cost of the tax bill time will tell. It will also be impacted by what we do with health care and regulations.

 

[danielpalos]

Re: Federal Deficit Soars

let's cut drug war spending, right wingers.

 

[Media_Truth]

Re: Federal Deficit Soars

Yeah, that's one of the reasons I gave up on the GOP and never have looked back. If you're actually "fiscally responsible" as opposed to "WANT MOR TAX CUTS!!!" then why vote Republican?

My good friend was/is a Democrat and we'd have these friendly debates about the budget, and he kept kicking my ass with the data. Finally got tired of the cognitive dissonance and had to change my opinion to the facts. The GOP is the party of tax cuts for the donor class, more spending, and bigger deficits.

It was a conscious strategy. Jude Wanniski coined it the Two Santa Clause theory. Essentially it was to be the party of tax cuts, but don't worry about corresponding spending cuts. Then when Democrats gained power, there would be huge pressure to raise taxes and/or cut spending, which is bad politically. And Democrats have played into GOP hands since Reagan.

I had never heard about the "Two Santa Claus Theory". And all the way back to 1976. I recall Reagan playing that card, and saying, "It's your money" to the American people. Then when Clinton/Gore got into office, all you heard about was the deficit. I'm just amazed that the media, the business world, and economists don't talk about this more often. And I believe you are correct about the Dems playing right into the GOP hands.

 

[rickc]

Re: Federal Deficit Soars

My source provides the data on which the taxpayers pay debt service and that is all that matters. What is wrong with you people? Inflation and economic growth are in the numbers, always have been. By the way my source is the BANK ACCOUNT OF THE UNITED STATES. You don't like the numbers, call them

all your.sources are cherry picked to support your.warped perspective.

you are just a blind and brainwashed rightie trying.to bully others into accepting your arguments

no chance you can be educated but we can rebut your arguments hoping.others will see the light.

 

[Conservative]

Re: Federal Deficit Soars

No, they are not in the numbers. Your source simply measures the dollar change in the debt. This doesn't take into account inflation, economic growth, or population growth.

You don't have a clue as to what you are talking about. Does your bank account take that information into account? This is the Treasury Dept. the bank account of the United States. It reports revenue and expenses. Clinton and every President has added debt so there was NO Clinton surplus. Please explain why it is so difficult for you to admit you are wrong? It is almost like you feel a strong desire to defend someone that you aren't even a family member of so why the loyalty?

 

[Conservative]

Re: Federal Deficit Soars

Here you go Mr. Republican:
1978 $59 $73 2.5% First Carter budget.
1979 $41 $55 1.5% Volcker raised rates to 20%.
1980 $74 $81 2.6% Recession. Iran oil embargo.
1981 $79 $90 2.4% Reagan tax cut.
1982 $128 $144 3.8% Reagan's 1st budget.
1983 $208 $235 5.6% Jobless rate 10.8%.
1984 $185 $195 4.5% Increased defense spending.
1985 $212 $256 4.8%
1986 $221 $297 4.8% Tax cut.
1987 $150 $225 3.1% Market crash
1988 $155 $252 2.9% Fed raised rates.
1989 $153 $255 2.7% S&L Crisis.
1990 $221 $376 3.7% Desert Storm.
1991 $269 $432 4.3% Recession.
1992 $290 $399 4.4%
1993 $255 $347 3.7% Clinton signed Balanced Budget Act.
1994 $203 $281 2.8% First Clinton budget.
1995 $164 $281 2.1%
1996 $107 $251 1.3% Welfare reform.
1997 $22 $188 0.3%
1998 ($69) $113 (0.8%) LTCM crisis.
1999 ($126) $130 (1.3%) Glass-Steagall repealed.
2000 ($236) $18 (2.3%) Surplus.
2001 ($128) $133 (1.2%) 9/11 attacks. EGTRRA.
2002 $158 $421 1.4% War on Terror.
2003 $378 $555 3.3% JGTRRA.
2004 $413 $596 3.4%
2005 $318 $554 2.4% Katrina. Bankruptcy Act.
2006 $248 $574 1.8% Bernanke chairs Fed.
2007 $161 $501 1.1% Iraq War cost.
2008 $459 $1,017 3.1% Bank bailout. QE.
2009 $1,413 $1,632 9.8% Stimulus Act.
2010 $1,294 $1,905 8.6% Obama tax cuts. ACA. Simpson-Bowles.
2011 $1,300 $1,229 8.3% Debt crisis.
2012 $1,087 $1,276 6.7% Fiscal cliff.
2013 $679 $672 4.0% Sequester. Government shutdown.
2014 $485 $1,086 2.7% Debt ceiling.
2015 $438 $327 2.4% Defense = $736.4 b.
2016 $585 $1,423 3.1% Defense = $767.3 b.
2017 $665 $672 3.4% Defense = $812.3 b.
2018 (est) $833 NA NA Defense = $824.7 b.

Analysis - Reagan High deficits in 1980s. The start of the mess. George Bush continued with deficits.
And then look! Oh my! Starting in 1992, the deficit starts dropping. WTG Clinton/Gore! Wow! All the way to a surplus for 4 years, and beautifully handed off to GW Bush, who screwed everything up royally. Oil wars, etc. And then the pathetic hand-off to Obama - the worst since the great depression. Banking/Housing crisis, out-of-control billionaire CEOs ripping off Americans under the Bush-Cheney watch, Depressed 401Ks, 2 Wars, a bankrupt American auto industry, etc, etc. Obama had no choice but to clean up the Republican mess. Once that was done. Wow! Look at that! Deficit reduced every year from 2011 through 2015. How about that! But then look. Chump gets into office in 2016. Bang, crash, boom - deficit gone amuk.

REPUBLICANS = HIGH DEFICITS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

OMG, what the hell is wrong with people like you who are so poorly informed and just cannot admit you are wrong. I am not going to relive what happened over 30 years ago but you are so out of touch with reality that you don't have a clue. Congress appropriates and spends the money too but you are so indoctrinated you just don't get it. Never took civics, did you?

What did we get from the Reagan and Bush debt? Any idea? What did we get from the Obama debt which you want to ignore. Current debt service is going to be about 500 billion dollars, is that Trump's fault?

Seems like nothing but excuses and blame never responsibility from you and the rest of the radicals. The Obama stimulus 842 billion dollars and employment went from 142 million down to 139 million two years later. That your idea of a success. Tax cuts? What Obama tax cuts? did your paycheck change? What is the debt to GDP ratio by all those Presidents?

I don't even know where to begin with people like but do feel sorry for you as you always want to blame someone else. You listed things that happened but not the results of those activities just like you blamed Trump for the debt and ignored the deficits. Liberals=indoctrinated socialists

 

[Conservative]

Re: Federal Deficit Soars

Yeah, that's one of the reasons I gave up on the GOP and never have looked back. If you're actually "fiscally responsible" as opposed to "WANT MOR TAX CUTS!!!" then why vote Republican?

My good friend was/is a Democrat and we'd have these friendly debates about the budget, and he kept kicking my ass with the data. Finally got tired of the cognitive dissonance and had to change my opinion to the facts. The GOP is the party of tax cuts for the donor class, more spending, and bigger deficits.

It was a conscious strategy. Jude Wanniski coined it the Two Santa Clause theory. Essentially it was to be the party of tax cuts, but don't worry about corresponding spending cuts. Then when Democrats gained power, there would be huge pressure to raise taxes and/or cut spending, which is bad politically. And Democrats have played into GOP hands since Reagan.

Got it, you prefer sending your dollars to the bureaucrats rather than allowing the people to keep it. Spending is never an issue for you nor is the social engineering promoted by those bureaucrats. If it truly bothers you to keep more of what you earn then send your tax cuts back or better yet move to a country more to your liking.

 

[Conservative]

Re: Federal Deficit Soars

all your.sources are cherry picked to support your.warped perspective.

you are just a blind and brainwashed rightie trying.to bully others into accepting your arguments

no chance you can be educated but we can rebut your arguments hoping.others will see the light.

I am sure your bank account and bank cherry picks data a well as Treasury. Interesting how the left and media are right but the official bank account is wrong. No chance you are wrong with your comments??? Didn't think so. Call Treasury and let them know.

 

[rickc]

Re: Federal Deficit Soars

I am sure your bank account and bank cherry picks data a well as Treasury. Interesting how the left and media are right but the official bank account is wrong. No chance you are wrong with your comments??? Didn't think so. Call Treasury and let them know.

i am convinced you actually believe the rhetoric you spout. i feel sorry for.your ignorance.

 

[Conservative]

Re: Federal Deficit Soars

i am convinced you actually believe the rhetoric you spout. i feel sorry for.your ignorance.

Stop trolling and respond to the data posted!! It isn't about rhetoric it is about results, results you want to ignore. Gave you the Treasury phone number, let me know what they say

 

[Conservative]

Re: Federal Deficit Soars

Here you go Mr. Republican:
1978 $59 $73 2.5% First Carter budget.
1979 $41 $55 1.5% Volcker raised rates to 20%.
1980 $74 $81 2.6% Recession. Iran oil embargo.
1981 $79 $90 2.4% Reagan tax cut.
1982 $128 $144 3.8% Reagan's 1st budget.
1983 $208 $235 5.6% Jobless rate 10.8%.
1984 $185 $195 4.5% Increased defense spending.
1985 $212 $256 4.8%
1986 $221 $297 4.8% Tax cut.
1987 $150 $225 3.1% Market crash
1988 $155 $252 2.9% Fed raised rates.
1989 $153 $255 2.7% S&L Crisis.
1990 $221 $376 3.7% Desert Storm.
1991 $269 $432 4.3% Recession.
1992 $290 $399 4.4%
1993 $255 $347 3.7% Clinton signed Balanced Budget Act.
1994 $203 $281 2.8% First Clinton budget.
1995 $164 $281 2.1%
1996 $107 $251 1.3% Welfare reform.
1997 $22 $188 0.3%
1998 ($69) $113 (0.8%) LTCM crisis.
1999 ($126) $130 (1.3%) Glass-Steagall repealed.
2000 ($236) $18 (2.3%) Surplus.
2001 ($128) $133 (1.2%) 9/11 attacks. EGTRRA.
2002 $158 $421 1.4% War on Terror.
2003 $378 $555 3.3% JGTRRA.
2004 $413 $596 3.4%
2005 $318 $554 2.4% Katrina. Bankruptcy Act.
2006 $248 $574 1.8% Bernanke chairs Fed.
2007 $161 $501 1.1% Iraq War cost.
2008 $459 $1,017 3.1% Bank bailout. QE.
2009 $1,413 $1,632 9.8% Stimulus Act.
2010 $1,294 $1,905 8.6% Obama tax cuts. ACA. Simpson-Bowles.
2011 $1,300 $1,229 8.3% Debt crisis.
2012 $1,087 $1,276 6.7% Fiscal cliff.
2013 $679 $672 4.0% Sequester. Government shutdown.
2014 $485 $1,086 2.7% Debt ceiling.
2015 $438 $327 2.4% Defense = $736.4 b.
2016 $585 $1,423 3.1% Defense = $767.3 b.
2017 $665 $672 3.4% Defense = $812.3 b.
2018 (est) $833 NA NA Defense = $824.7 b.

Analysis - Reagan High deficits in 1980s. The start of the mess. George Bush continued with deficits.
And then look! Oh my! Starting in 1992, the deficit starts dropping. WTG Clinton/Gore! Wow! All the way to a surplus for 4 years, and beautifully handed off to GW Bush, who screwed everything up royally. Oil wars, etc. And then the pathetic hand-off to Obama - the worst since the great depression. Banking/Housing crisis, out-of-control billionaire CEOs ripping off Americans under the Bush-Cheney watch, Depressed 401Ks, 2 Wars, a bankrupt American auto industry, etc, etc. Obama had no choice but to clean up the Republican mess. Once that was done. Wow! Look at that! Deficit reduced every year from 2011 through 2015. How about that! But then look. Chump gets into office in 2016. Bang, crash, boom - deficit gone amuk.

REPUBLICANS = HIGH DEFICITS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I responded once but not completely. Interesting how you provide events but no comments or discussion of the results showing again total inability to debate issues. There was NO Clinton surplus regardless of what Factcheck or anyone else says. WE pay debt service on Treasury Data so please show us the Clinton surplus?

Debt to the Penny (Daily History Search Application)

It is also quite telling that it is only Republicans you want to blame for the deficits and debt which just goes to show partisan ignorance. Since party matters, here is what Treasury shows

Reagan 1.7 trillion debt in 8 years
GHW Bush 1.4 trillion in debt in 4 years
GW Bush 4.9 trillion in 8 years

Total REPUBLICAN PRESIDENTS 8.0 trillion in 20 years

Clinton 1.4 trillion in 8 years
Obama 9.3 trillion in 8 years

Total DEMOCRATIC PRESIDENTS 10.7 trillion in 16 years.

Looks to me like Democrats-higher debt Republicans less debt

Now for all your items listed are they supposed to mean something without context, for example Obama stimulus? Yes we know Obama created a stimulus for shovel ready jobs, 842 billion dollars. Why didn't those shovels arrive since employment went from 142 million down to 139 million TWO YEARS LATER. Is that your idea of a stimulus?

ACA?? Was that supposed not to cost any money?
Obama tax cuts? Was Obama a Republican?
2012 fiscal cliff? Wasn't that in 2008?
2015 Katrina? Was that a political issue?
Bankruptcy? What bankruptcy?

You spent time typing words but not defining what affect they had on the budget or deficit. How do you explain Federal INCOME tax revenue going up AFTER three years of Reagan FIT cuts and the 2003 Bush tax cuts??

You see when you list words you need to define them and the affect on the topic or what you are trying to claim, you haven't done that

 

[rickc]

Re: Federal Deficit Soars

Stop trolling and respond to the data posted!! It isn't about rhetoric it is about results, results you want to ignore. Gave you the Treasury phone number, let me know what they say

your interpretation of the data, not the data, conflicts with mine and many others.

i know you can't help it. You and many other righties have been brainwashed by right wing propaganda. it is sad for America really.

 

[Conservative]

Re: Federal Deficit Soars

your interpretation of the data, not the data, conflicts with mine and many others.

i know you can't help it. You and many other righties have been brainwashed by right wing propaganda. it is sad for America really.

My interpretation of data?? What do we pay debt service on, yours or my interpretation? Think the bank of the U.S. posts cherry picked data?

 

[jonny5]

Re: Federal Deficit Soars

Highest debt ever in this country - July 2018. I thought Trump promised to change that? Nope - he is ballooning the deficit.

Trump doesnt make law, he enforces it. Congress is the one who wrote and passed the increased spending and does nothing about out of control social spending. And that includes the majority of democrats who voted for increased spending with the Republicans.

 

[Conservative]

Re: Federal Deficit Soars

your interpretation of the data, not the data, conflicts with mine and many others.

i know you can't help it. You and many other righties have been brainwashed by right wing propaganda. it is sad for America really.

So the reality is that the taxpayers aren't having to pay 500 billion in debt service because the data isn't being interpreted properly? Really? That is your argument?

Why don't you tell us exactly what we got for the 9.3 trillion Obama debt and please don't give me the leftwing talking points that he brought us out of recession TARP did that or was the calendar and recovery.org wrong? You need you help yourself before trying to help someone else

 

[Conservative]

Re: Federal Deficit Soars

Here you go Mr. Republican:
here you go Mr. Leftwing Radical!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Why are these results being ignored and why is it that today's liberals are acting like cult followers? Why such hatred and promotion of divisiveness along with class envy and warfare?

Almost 4 million new jobs have been created since President Trump’s election.
African-American, Hispanic-American, and Asian-American unemployment rates have all recently reached the lowest levels in history.
Women’s unemployment rate has reached the lowest level in 65 years.
Veterans’ unemployment rate recently reached its lowest level in nearly 20 years.
The unemployment rate for Americans without high school diplomas is at the lowest level ever recorded, and the Trump administration’s new workforce initiative will deliver job-training to more than 4 million Americans.
Manufacturing jobs are being created at the fastest pace in over three decades.
Nearly half-a-million manufacturing jobs have been created since the president took office. In the month of July alone, nearly 40,000 new manufacturing jobs were added.
Almost 3.9 million Americans have been lifted off food stamps since President Trump’s election.
The president crafted the largest tax cut in a generation, which led to savings for more than 80 percent of households and pay raises and bonuses for 4 million American workers.
President Trump protected American taxpayers by asking Congress to rescind $15.4 billion in unused appropriations.
The president has hired/nominated an impressive number of women to senior positions in his administration, including the first female director of the CIA, Gina Haspel.
He’s appointed two Supreme Court justices, and the Senate has now confirmed 26 appellate court judges of his choosing, as well as Supreme Court Justice Neil Gorsuch.
He successfully negotiated the return of four American hostages in one month’s time.
President Trump’s Unified Agenda of Regulatory and Deregulatory Action has exceeded the 2:1 mandate, eliminating 22 job-killing regulations for every one new regulatory action.
President Trump signed the “Right to Try” Act to give terminally ill patients a chance to try lifesaving treatments.
The Department of Homeland Security arrested 796 MS-13 gang members and associates in FY 2017, an 83 percent increase from the previous year.
The president signed the VA Mission Act, which allows veterans who don’t live near a VA facility or can’t get an appointment in a timely manner to seek medical care from private health-care providers.
Signed the National Defense Authorization Act, which provides an $82 billion funding increase for the Department of Defense over the current period, including a $617 billion Pentagon budget, $22 billion for the nuclear weapons program and $69 billion for U.S. military efforts abroad, as well as new tanks, ships, and planes. The package includes a salary boost for service members, about a 2.6 percent raise—the biggest military pay raise in nearly a decade.

 

[rickc]

Re: Federal Deficit Soars

So the reality is that the taxpayers aren't having to pay 500 billion in debt service because the data isn't being interpreted properly? Really? That is your argument?

Why don't you tell us exactly what we got for the 9.3 trillion Obama debt and please don't give me the leftwing talking points that he brought us out of recession TARP did that or was the calendar and recovery.org wrong? You need you help yourself before trying to help someone else

like i said we are light years apart on evaluating cause and effect

you talk about revenues and dismiss expendatures for Reagan

you completely ignore the disasterous bush years had heap all his debt on Obama

and you defend Trumps deficit spending in a positive economy

much more there but i have better things to do then argue with a.blind and brainwashed rightie

 

[Conservative]

Re: Federal Deficit Soars

like i said we are light years apart on evaluating cause and effect

you talk about revenues and dismiss expendatures for Reagan

you completely ignore the disasterous bush years had heap all his debt on Obama

and you defend Trumps deficit spending in a positive economy

much more there but i have better things to do then argue with a.blind and brainwashed rightie

With spending has to come results, Reagan left us with a 2.6 trillion dollar debt and what did we get for that? A doubling of GDP, 17 million jobs, a 68% increase in FIT revenue, and a peace dividend that still left the debt at 50% of GDP truly manageable but ignored

When the recession began that Reagan inherited the employment was 99 million, when he left office it was 116 million or 17 million jobs. When the recession began the employment was 146 million, when Obama left office it was 152 million or 6 million so interpret those results?

What did we get from the 9.3 trillion Obama debt, 6 million jobs, 3.8 trillion added to the GDP vs 4.5 trillion by Bush, and debt well over 100% of GDP plus all the hatred and divisiveness we see today.

You have a lot better things to do that research results? Really? How closed minded, partisan of you.

 

[danielpalos]

Re: Federal Deficit Soars

Only Fundamentals don't matter to the right wing, who love the vacuum of their special pleading.

U.S. National Debt Clock : Real Time

 

[rickc]

Re: Federal Deficit Soars

Here you go Mr. Republican:
1978 $59 $73 2.5% First Carter budget.
1979 $41 $55 1.5% Volcker raised rates to 20%.
1980 $74 $81 2.6% Recession. Iran oil embargo.
1981 $79 $90 2.4% Reagan tax cut.
1982 $128 $144 3.8% Reagan's 1st budget.
1983 $208 $235 5.6% Jobless rate 10.8%.
1984 $185 $195 4.5% Increased defense spending.
1985 $212 $256 4.8%
1986 $221 $297 4.8% Tax cut.
1987 $150 $225 3.1% Market crash
1988 $155 $252 2.9% Fed raised rates.
1989 $153 $255 2.7% S&L Crisis.
1990 $221 $376 3.7% Desert Storm.
1991 $269 $432 4.3% Recession.
1992 $290 $399 4.4%
1993 $255 $347 3.7% Clinton signed Balanced Budget Act.
1994 $203 $281 2.8% First Clinton budget.
1995 $164 $281 2.1%
1996 $107 $251 1.3% Welfare reform.
1997 $22 $188 0.3%
1998 ($69) $113 (0.8%) LTCM crisis.
1999 ($126) $130 (1.3%) Glass-Steagall repealed.
2000 ($236) $18 (2.3%) Surplus.
2001 ($128) $133 (1.2%) 9/11 attacks. EGTRRA.
2002 $158 $421 1.4% War on Terror.
2003 $378 $555 3.3% JGTRRA.
2004 $413 $596 3.4%
2005 $318 $554 2.4% Katrina. Bankruptcy Act.
2006 $248 $574 1.8% Bernanke chairs Fed.
2007 $161 $501 1.1% Iraq War cost.
2008 $459 $1,017 3.1% Bank bailout. QE.
2009 $1,413 $1,632 9.8% Stimulus Act.
2010 $1,294 $1,905 8.6% Obama tax cuts. ACA. Simpson-Bowles.
2011 $1,300 $1,229 8.3% Debt crisis.
2012 $1,087 $1,276 6.7% Fiscal cliff.
2013 $679 $672 4.0% Sequester. Government shutdown.
2014 $485 $1,086 2.7% Debt ceiling.
2015 $438 $327 2.4% Defense = $736.4 b.
2016 $585 $1,423 3.1% Defense = $767.3 b.
2017 $665 $672 3.4% Defense = $812.3 b.
2018 (est) $833 NA NA Defense = $824.7 b.

Analysis - Reagan High deficits in 1980s. The start of the mess. George Bush continued with deficits.
And then look! Oh my! Starting in 1992, the deficit starts dropping. WTG Clinton/Gore! Wow! All the way to a surplus for 4 years, and beautifully handed off to GW Bush, who screwed everything up royally. Oil wars, etc. And then the pathetic hand-off to Obama - the worst since the great depression. Banking/Housing crisis, out-of-control billionaire CEOs ripping off Americans under the Bush-Cheney watch, Depressed 401Ks, 2 Wars, a bankrupt American auto industry, etc, etc. Obama had no choice but to clean up the Republican mess. Once that was done. Wow! Look at that! Deficit reduced every year from 2011 through 2015. How about that! But then look. Chump gets into office in 2016. Bang, crash, boom - deficit gone amuk.

REPUBLICANS = HIGH DEFICITS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

conservative

this guy gets it!

you just don't

 

[jaeger19]

Re: Federal Deficit Soars

My interpretation of data?? What do we pay debt service on, yours or my interpretation? Think the bank of the U.S. posts cherry picked data?

Yes... I suggest you go to any treasury department accountant.. and explain to him how you are using the Treasury data to prove that Reagan's tax cuts did not hurt revenue and did not increase the deficit.

They would tell you that you are completely wrong.. and that the raw data that you are using does not prove what you say it does.

I already posted why and provided links to why your assumptions regarding that data are invalid. You simply choose to ignore the facts.

 

[Conservative]

Re: Federal Deficit Soars

Yes... I suggest you go to any treasury department accountant.. and explain to him how you are using the Treasury data to prove that Reagan's tax cuts did not hurt revenue and did not increase the deficit.

They would tell you that you are completely wrong.. and that the raw data that you are using does not prove what you say it does.

I already posted why and provided links to why your assumptions regarding that data are invalid. You simply choose to ignore the facts.

I suggest you go back to the classroom and ask any Professor to explain to you what we pay debt service on.

I also suggest you go to your classroom and ask your professor if a tax cut is an expense and has to be paid for?

Then you can always go to any accountant and look at a balance sheet and see the bottom line number and ask if that number is valid.

Your argument may be one of the dumbest on record because we pay debt service on Treasury data and when federal income tax revenue grows does it really matter how?. How does growing tax revenue cause deficits?

Sent from my SAMSUNG-SM-G930A using Tapatalk