so in 1 month, DJT policy generated enough revenue to pay 2/3 annual interest on the national debt....
hmmmm......
Trust me I know. 4/15/18 was the worst financial day for me personally in my history.
The devil is in the details.
Quote:So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.
Couple this increased spending with the huge corporate tax cut, and the deficit and debt are going to skyrocket. And the coming months won't have an April 15th individual tax payment windfall either.
(05-08-2018 01:36 PM)Redwingtom Wrote: [ -> ]The devil is in the details.
Quote:So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.
Couple this increased spending with the huge corporate tax cut, and the deficit and debt are going to skyrocket. And the coming months won't have an April 15th individual tax payment windfall either.
yep, the deficit is projected to skyrocket in just a couple of years, but that's not TRex's fault, it was like that before the recent tax cuts. (although they didn't help)
(05-08-2018 03:19 PM)Oman Wrote: [ -> ] (05-08-2018 01:36 PM)Redwingtom Wrote: [ -> ]The devil is in the details.
Quote:So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.
Couple this increased spending with the huge corporate tax cut, and the deficit and debt are going to skyrocket. And the coming months won't have an April 15th individual tax payment windfall either.
yep, the deficit is projected to skyrocket in just a couple of years, but that's not TRex's fault, it was like that before the recent tax cuts. (although they didn't help)
Debt, yes, but not the deficit. That's the year over year figure. It had been coming down since 2009 and had basically stabilized at around -600B per year in recent years. It's currently up to -750 and climbing.
(05-08-2018 01:36 PM)Redwingtom Wrote: [ -> ]The devil is in the details.
Quote:So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.
Couple this increased spending with the huge corporate tax cut, and the deficit and debt are going to skyrocket. And the coming months won't have an April 15th individual tax payment windfall either.
Just curious why you all of a sudden seem so deeply concerned with budget deficits at the moment when, for 8 years under 'dear leader' you didn't concern yourself as he was plowing America's economy and most Americans into financial oblivion?
(05-08-2018 03:34 PM)Redwingtom Wrote: [ -> ] (05-08-2018 03:19 PM)Oman Wrote: [ -> ] (05-08-2018 01:36 PM)Redwingtom Wrote: [ -> ]The devil is in the details.
Quote:So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.
Couple this increased spending with the huge corporate tax cut, and the deficit and debt are going to skyrocket. And the coming months won't have an April 15th individual tax payment windfall either.
yep, the deficit is projected to skyrocket in just a couple of years, but that's not TRex's fault, it was like that before the recent tax cuts. (although they didn't help)
Debt, yes, but not the deficit. That's the year over year figure. It had been coming down since 2009 and had basically stabilized at around -600B per year in recent years. It's currently up to -750 and climbing.
It's both. The deficit in real $$ and as a percentage of GDP, and the debt which is a byproduct of the deficit. Deficit 840b next year, $1T in 2020... with no end in sight.
All because of baseline budgeting. 10% increase every year regardless. This little budget ploy is treasonous actually. That’s why some say without it and a 1 cent cut per year in all spending would put the USA back in the black in ten years.
(05-08-2018 04:21 PM)SoMs Eagle Wrote: [ -> ]All because of baseline budgeting. 10% increase every year regardless. This little budget ploy is treasonous actually. That’s why some say without it and a 1 cent cut per year in all spending would put the USA back in the black in ten years.
this is the pickle en macro....
one spends to subsidize and grow a voting bloc that only yields long term fail while the other spends to create economic/job growth that may yield a potential inflationary cycle that keeps the po' as po' or poorer....
I always put my money on the strategy on the latter with the hopes those goons will minimize spending moving forward and change the scope of job creation....that would be what's currently happening in attempt from DJT...
the USD is a fragile entity in today's schema.....however, right now, there isn't a better alternative when it comes to commerce.....
with DJT at the helm, the position of strength has never been greater at any point in my 52.7 yrs....
(05-08-2018 04:05 PM)Oman Wrote: [ -> ] (05-08-2018 03:34 PM)Redwingtom Wrote: [ -> ] (05-08-2018 03:19 PM)Oman Wrote: [ -> ] (05-08-2018 01:36 PM)Redwingtom Wrote: [ -> ]The devil is in the details.
Quote:So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.
Couple this increased spending with the huge corporate tax cut, and the deficit and debt are going to skyrocket. And the coming months won't have an April 15th individual tax payment windfall either.
yep, the deficit is projected to skyrocket in just a couple of years, but that's not TRex's fault, it was like that before the recent tax cuts. (although they didn't help)
Debt, yes, but not the deficit. That's the year over year figure. It had been coming down since 2009 and had basically stabilized at around -600B per year in recent years. It's currently up to -750 and climbing.
It's both. The deficit in real $$ and as a percentage of GDP, and the debt which is a byproduct of the deficit. Deficit 840b next year, $1T in 2020... with no end in sight.
No, I agree there. I was only pointing out that the deficit had been cut about in half from what it was around when Obama had taken office and in his first couple years. But yes, it's now going to keep skyrocketing unless trickle-down economics suddenly defies all historical data and begins to work.
(05-08-2018 03:48 PM)GoodOwl Wrote: [ -> ] (05-08-2018 01:36 PM)Redwingtom Wrote: [ -> ]The devil is in the details.
Quote:So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.
Couple this increased spending with the huge corporate tax cut, and the deficit and debt are going to skyrocket. And the coming months won't have an April 15th individual tax payment windfall either.
Just curious why you all of a sudden seem so deeply concerned with budget deficits at the moment when, for 8 years under 'dear leader' you didn't concern yourself as he was plowing America's economy and most Americans into financial oblivion?
This is a silly argument and one I've already addressed countless times.
This is RedWingTom from 2019
(05-08-2018 01:36 PM)Redwingtom Wrote: [ -> ]The devil is in the details.
Quote:So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
Higher inflation is driving up the government’s debt payments, while Homeland Security disaster relief, Social Security benefit payments and the Defense Department also saw significant increases.
Couple this increased spending with the huge corporate tax cut, and the deficit and debt are going to skyrocket. And the coming months won't have an April 15th individual tax payment windfall either.
now, Tom, can you give us a similar summary when inflation is 8% vs the 1.5% it was when you posted this. Also couple in the $3trillion in useless spending Biden* added in.
Biden was talking about putting high speed railways all over the country just a few minutes ago. Has that been budgeted in any of the $Trillions passed?
