Where is Trump's Balanced Budget?

[Conservative]

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Outside of the Bush recession, consumer spending went up every year. That's the normal state of the economy, no matter what is happening with taxation.

You think the world was going to hell under Obama, and everything is suddenly awesome with trump in office. Nothing has changed. All we know is that while Obama was in office, we recovered from a serious recession, and trump still has plenty of time to destroy the economy with his idiotic policies.

Also, notice that, under Obama, the deficit decreased, but under trump, it has increased, even with increased tax receipts. Which means that trump's increased deficit spending is adding more to GDP than you would ever want to admit.

OMG, you are truly an indoctrinated liberal. Trump's tax cut generated over a trillion dollars in consumer spending in ONE YEAR, you have not provided any proof of that happening under Obama. Not only has consumer spending gone up but there has been record sales and property taxes at the state level. Your lack of understanding of the private sector economy is staggering. You are nothing more than a partisan radical big govt. nanny state liberal who doesn't really belong in this country.

 

[JohnfrmClevelan]

Sounds to me like you've forgotten that debt carries interest... a huge amount of it, too. In two years, the interest will exceed Medicare. In six years, it will exceed military spending. In twelve years, interest and entitlement spending will use up 100% of tax revenue.

Debt most certainly DOES matter, and it's going to crush us.

Treasury pay for that debt by simply issuing new bonds. There is no cost to the government in real resources. Get back to me when you can point to a real cost.

 

[Dittohead not!]

The information shows that 67% of GDP is consumption or consumer spending and that explains the benefit of tax cuts, Prior to Obama Govt. spending was about 20% of GDP whereas in Europe it is in most cases 50% PLUS. That is why Europe was so slow to recover from the recession and why austerity hurts Europe more than in this country.

It always feels better proving the radical left wrong. Still waiting for how foreign ownership of our debt benefits this country and wouldn't that money be better used here?

Here are some real stats to chew on, ones backed up by the federal government:

Viewed from a GDP perspective, total government spending was steady at about 33 percent GDP in the mid 2000s and then jumped, in the Great Recession, to 41 percent GDP. But in the subsequent economic recovery total government spending has steadily declined as a percent of GDP down to about 34 percent GDP in 2015.

That's all government spending, federal, state, and local.

source

and the best estimate for 2019 is 36%.

Up during a recession, down after the recession, but no drastic (or any) drop because of the person in the WH. That's to be expected, of course, since it is Congress that spends the money.

well, the federal money anyway.

Now, if you want to compare those figures to Europe, remember that the US spends 18 % plus on health care, about half of that government and half private. Add in that 9% that is private medical care spending, and we have currently about 45% of the GDP being spent by government. Not too much different from those liberal big spending Europeans.

 

[Conservative]

Here are some real stats to chew on, ones backed up by the federal government:



That's all government spending, federal, state, and local.

source

and the best estimate for 2019 is 36%.

Up during a recession, down after the recession, but no drastic (or any) drop because of the person in the WH. That's to be expected, of course, since it is Congress that spends the money.

well, the federal money anyway.

Now, if you want to compare those figures to Europe, remember that the US spends 18 % plus on health care, about half of that government and half private. Add in that 9% that is private medical care spending, and we have currently about 45% of the GDP being spent by government. Not too much different from those liberal big spending Europeans.

Sorry, don't discuss estimates but rather official actual data

 

[JohnfrmClevelan]

OMG, you are truly an indoctrinated liberal. Trump's tax cut generated over a trillion dollars in consumer spending in ONE YEAR, you have not provided any proof of that happening under Obama. Not only has consumer spending gone up but there has been record sales and property taxes at the state level. Your lack of understanding of the private sector economy is staggering. You are nothing more than a partisan radical big govt. nanny state liberal who doesn't really belong in this country.

Trump's tax cut contributed to an increase in consumer spending, but only to the extent that those tax savings were spent. Which means that most or all of the tax savings that the lower end received (not much) were spent, while a large chunk of the tax savings that the upper end received (a bunch) were lost to savings. Can you dissect out just how much of the tax cuts were actually spent? No, you can't, but that hasn't stopped you from claiming that the tax cuts are the one and only reason for the growth in consumer spending. Which, btw, I just showed grows under almost any conditions.

Also contributing to increased consumer spending? The usual suspects. Increased private sector credit, increased real investment, and increased government deficit spending. These are the things that actually increase the national income. Which also puts more money in people's pockets to spend.

What those graphs showed, or would have showed if you understood them, was that nothing extraordinary changed under trump. The economy was doing very well under Obama. Consumer spending merely continued a steady ascent that had started once we had recovered from the recession. And Obama didn't need to cut taxes and increase the deficit to achieve the same growth.

 

[Dittohead not!]

Sorry, don't discuss estimates but rather official actual data

You don't discuss actual official data, either. Since it's not 2019 yet, maybe you can show how much spending decreased in 2018.

Then, we can talk about how it is Congress that spends the money, regardless of whether Obama or Trump, or Warren is president of the USA.

 

[Conservative]

Trump's tax cut contributed to an increase in consumer spending, but only to the extent that those tax savings were spent. Which means that most or all of the tax savings that the lower end received (not much) were spent, while a large chunk of the tax savings that the upper end received (a bunch) were lost to savings. Can you dissect out just how much of the tax cuts were actually spent? No, you can't, but that hasn't stopped you from claiming that the tax cuts are the one and only reason for the growth in consumer spending. Which, btw, I just showed grows under almost any conditions.

Also contributing to increased consumer spending? The usual suspects. Increased private sector credit, increased real investment, and increased government deficit spending. These are the things that actually increase the national income. Which also puts more money in people's pockets to spend.

What those graphs showed, or would have showed if you understood them, was that nothing extraordinary changed under trump. The economy was doing very well under Obama. Consumer spending merely continued a steady ascent that had started once we had recovered from the recession. And Obama didn't need to cut taxes and increase the deficit to achieve the same growth.

Your opinion noted. You have no idea how consumers determine what to spend but the reality is they have more spendable income due to tax cuts. That is reality and still waiting for the Obama results showing consumer spending exceeding what Trump has generated in the last year?

 

[Conservative]

You don't discuss actual official data, either. Since it's not 2019 yet, maybe you can show how much spending decreased in 2018.

Then, we can talk about how it is Congress that spends the money, regardless of whether Obama or Trump, or Warren is president of the USA.

As stated what Trump controls was reduced, the Executive Branch budget, what contributed to the deficit was the debt service and entitlement spending. You want to blame Trump for spending that he didn't control. Congress appropriates the money so can you show me an approved budget for 2018?

 

[HumblePi]

Trump is calling himself a Republican these days, but he's still a liberal by any reasonable definition of the term.

Trump isn't anything, not Republican nor Democrat. He may be registered as a Republican. Most of his life he's been either a Democrat or Independent. He changed his party affiliation five times since 1987. Trump is a Trumpist, Trumparian, his pledged party is Trumpism. He has no particular political party ideology, principles or morals. He's a dominating autocrat who demands absolute loyalty from others but gives none to anyone.