Claw
Hall of Famer
Posts: 24,991
Joined: Feb 2004
Reputation: 1231
I Root For: Memphis
Location: Orangeville HELP!
|
April was best month in history for U.S. budget, according to CBO figures
|
|
05-08-2018 08:57 AM |
|
stinkfist
nuts zongo's in the house
Posts: 69,270
Joined: Nov 2011
Reputation: 7136
I Root For: Mustard Buzzards
Location: who knows?
|
RE: April was best month in history for U.S. budget, according to CBO figures
so in 1 month, DJT policy generated enough revenue to pay 2/3 annual interest on the national debt....
hmmmm......
(This post was last modified: 05-08-2018 09:25 AM by stinkfist.)
|
|
05-08-2018 09:23 AM |
|
fsquid
Legend
Posts: 81,520
Joined: Jan 2004
Reputation: 1846
I Root For: Memphis, Queens (NC)
Location: St Johns, FL
|
RE: April was best month in history for U.S. budget, according to CBO figures
Trust me I know. 4/15/18 was the worst financial day for me personally in my history.
|
|
05-08-2018 09:26 AM |
|
gdunn
Repping E-Gang Colors
Posts: 30,491
Joined: Oct 2011
Reputation: 2478
I Root For: Southern Miss
Location: In The Moment
|
RE: April was best month in history for U.S. budget, according to CBO figures
(05-08-2018 09:26 AM)fsquid Wrote: Trust me I know. 4/15/18 was the worst financial day for me personally in my history.
|
|
05-08-2018 09:40 AM |
|
Redwingtom
Progressive filth
Posts: 51,857
Joined: Dec 2003
Reputation: 984
I Root For: B-G-S-U !!!!
Location: Soros' Basement
|
RE: April was best month in history for U.S. budget, according to CBO figures
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 |
|
Oman
All American
Posts: 4,030
Joined: Mar 2004
Reputation: 230
I Root For: Memphis !!
Location: Cordova
|
RE: April was best month in history for U.S. budget, according to CBO figures
(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 |
|
Redwingtom
Progressive filth
Posts: 51,857
Joined: Dec 2003
Reputation: 984
I Root For: B-G-S-U !!!!
Location: Soros' Basement
|
RE: April was best month in history for U.S. budget, according to CBO figures
(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 03:34 PM |
|
shere khan
Southerner
Posts: 60,908
Joined: Mar 2004
Reputation: 7616
I Root For: Tulane
Location: Teh transfer portal
|
RE: April was best month in history for U.S. budget, according to CBO figures
(05-08-2018 09:26 AM)fsquid Wrote: Trust me I know. 4/15/18 was the worst financial day for me personally in my history.
|
|
05-08-2018 03:35 PM |
|
GoodOwl
The 1 Hoo Knocks
Posts: 25,432
Joined: Nov 2010
Reputation: 2379
I Root For: New Horizons
Location: Planiverse
|
RE: April was best month in history for U.S. budget, according to CBO figures
(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 03:48 PM |
|
Oman
All American
Posts: 4,030
Joined: Mar 2004
Reputation: 230
I Root For: Memphis !!
Location: Cordova
|
RE: April was best month in history for U.S. budget, according to CBO figures
(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.
|
|
05-08-2018 04:05 PM |
|
SoMs Eagle
Heisman
Posts: 8,998
Joined: Nov 2011
Reputation: 683
I Root For: Mighty Mustard
Location:
|
RE: April was best month in history for U.S. budget, according to CBO figures
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 |
|
stinkfist
nuts zongo's in the house
Posts: 69,270
Joined: Nov 2011
Reputation: 7136
I Root For: Mustard Buzzards
Location: who knows?
|
RE: April was best month in history for U.S. budget, according to CBO figures
(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....
(This post was last modified: 05-08-2018 05:33 PM by stinkfist.)
|
|
05-08-2018 05:31 PM |
|
Redwingtom
Progressive filth
Posts: 51,857
Joined: Dec 2003
Reputation: 984
I Root For: B-G-S-U !!!!
Location: Soros' Basement
|
RE: April was best month in history for U.S. budget, according to CBO figures
(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.
|
|
05-10-2018 09:20 AM |
|
Redwingtom
Progressive filth
Posts: 51,857
Joined: Dec 2003
Reputation: 984
I Root For: B-G-S-U !!!!
Location: Soros' Basement
|
RE: April was best month in history for U.S. budget, according to CBO figures
(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.
|
|
05-10-2018 09:21 AM |
|
UofMstateU
Legend
Posts: 39,274
Joined: Dec 2009
Reputation: 3586
I Root For: Memphis
Location:
|
RE: April was best month in history for U.S. budget, according to CBO figures
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.
|
|
11-10-2022 02:56 PM |
|
Eagleaidaholic
Hall of Famer
Posts: 10,149
Joined: Jun 2010
Reputation: 787
I Root For: Southern Miss
Location:
|
RE: April was best month in history for U.S. budget, according to CBO figures
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?
|
|
11-10-2022 04:02 PM |
|