Hello There, Guest! (LoginRegister)

Post Reply 
Federal deficit estimated at 984 Billion, highest in seven years
Author Message
Kronke Offline
Legend
*

Posts: 28,750
Joined: Apr 2010
Reputation: 1284
I Root For: Houston / AAC
Location: Texas
Post: #21
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 12:01 PM)UofMemphis Wrote:  but but...the great orange business man was going to fix everything! lol

Economy is doing great. At least he's in the ball park, you lot are on a different planet.

You claim people will *literally die* any time a cut is mentioned, you have $100 trillion in new spending proposals, you want to throw the entire country (and according to some and assuming they can get here, the rest of the world) on a health care plan that isn't even solvent when American citizens pay into it for 40+ years and only draw on it at 65+.
(This post was last modified: 10-08-2019 01:52 PM by Kronke.)
10-08-2019 01:42 PM
Find all posts by this user Quote this message in a reply
Kronke Offline
Legend
*

Posts: 28,750
Joined: Apr 2010
Reputation: 1284
I Root For: Houston / AAC
Location: Texas
Post: #22
RE: Federal deficit estimated at 984 Billion, highest in seven years
Democrats are totally serious about debt and deficits.

On a completely unrelated note, their frontrunner has endorsed taxpayer-funded welfare benefits for anyone in the world that can manage to get here.

(This post was last modified: 10-08-2019 01:53 PM by Kronke.)
10-08-2019 01:48 PM
Find all posts by this user Quote this message in a reply
UofMstateU Online
Legend
*

Posts: 25,290
Joined: Dec 2009
Reputation: 1830
I Root For: Memphis
Location:
Post: #23
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 01:42 PM)Marc Mensa Wrote:  
(10-08-2019 01:38 PM)200yrs2late Wrote:  
(10-08-2019 01:13 PM)Marc Mensa Wrote:  
(10-08-2019 05:20 AM)Owl 69/70/75 Wrote:  Most of that was built into the Obama budgets. Look at the CBO projections of January 2017, made before Trump took office and not incorporating any Trump proposals. I'm not excusing Trump. He said he was going to balance the budget and he hasn't. But this is the mostly Obama with a bit of Trump added on deficit.

BS

The recent spike in deficits is due to decreases in revenues. Revenues came in at 16.5% of GDP in 2018. When President Obama left office, they were back up to 18% after being as low as 14.5%. Spending was at 20.8 when Obama left office and its now at 20.3%. These deficit spikes are due to a cut in revenues, not a spike in spending.

https://www.cbo.gov/system/files/2019-05...tdata.xlsx

Yeah, you can't measure revenue as a percent of GDP and compare it to deficit spending unless you also measure deficit as a percent of GDP.

Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.
10-08-2019 01:55 PM
Find all posts by this user Quote this message in a reply
Marc Mensa Online
You'll Get Nothing and Like It
*

Posts: 8,921
Joined: Mar 2004
Reputation: 298
I Root For: The Underdog
Location: Samaria
Post: #24
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 01:55 PM)UofMstateU Wrote:  
(10-08-2019 01:42 PM)Marc Mensa Wrote:  
(10-08-2019 01:38 PM)200yrs2late Wrote:  
(10-08-2019 01:13 PM)Marc Mensa Wrote:  
(10-08-2019 05:20 AM)Owl 69/70/75 Wrote:  Most of that was built into the Obama budgets. Look at the CBO projections of January 2017, made before Trump took office and not incorporating any Trump proposals. I'm not excusing Trump. He said he was going to balance the budget and he hasn't. But this is the mostly Obama with a bit of Trump added on deficit.

BS

The recent spike in deficits is due to decreases in revenues. Revenues came in at 16.5% of GDP in 2018. When President Obama left office, they were back up to 18% after being as low as 14.5%. Spending was at 20.8 when Obama left office and its now at 20.3%. These deficit spikes are due to a cut in revenues, not a spike in spending.

https://www.cbo.gov/system/files/2019-05...tdata.xlsx

Yeah, you can't measure revenue as a percent of GDP and compare it to deficit spending unless you also measure deficit as a percent of GDP.

Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.

What’s moronic is believing $1 in 2018 is equal to $1 in 2008. The cost of living increases every year... the population increases every year... and if you're using yesterday’s dollars to balance today’s books then you’re eventually going to come up empty.

If you can’t comprehend why GDP is used as the measuring stick, then you’re willfully ignorant.
(This post was last modified: 10-08-2019 02:17 PM by Marc Mensa.)
10-08-2019 02:16 PM
Find all posts by this user Quote this message in a reply
bearcat65 Offline
1st String
*

Posts: 2,075
Joined: Jan 2004
Reputation: 81
I Root For:
Location:
Post: #25
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 02:16 PM)Marc Mensa Wrote:  
(10-08-2019 01:55 PM)UofMstateU Wrote:  
(10-08-2019 01:42 PM)Marc Mensa Wrote:  
(10-08-2019 01:38 PM)200yrs2late Wrote:  
(10-08-2019 01:13 PM)Marc Mensa Wrote:  BS

The recent spike in deficits is due to decreases in revenues. Revenues came in at 16.5% of GDP in 2018. When President Obama left office, they were back up to 18% after being as low as 14.5%. Spending was at 20.8 when Obama left office and its now at 20.3%. These deficit spikes are due to a cut in revenues, not a spike in spending.

https://www.cbo.gov/system/files/2019-05...tdata.xlsx

Yeah, you can't measure revenue as a percent of GDP and compare it to deficit spending unless you also measure deficit as a percent of GDP.

Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.

What’s moronic is believing $1 in 2018 is equal to $1 in 2008. The cost of living increases every year... the population increases every year... and if you're using yesterday’s dollars to balance today’s books then you’re eventually going to come up empty.

If you can’t comprehend why GDP is used as the measuring stick, then you’re willfully ignorant.

Revenue is not the issue. Period.
10-08-2019 02:21 PM
Find all posts by this user Quote this message in a reply
UofMstateU Online
Legend
*

Posts: 25,290
Joined: Dec 2009
Reputation: 1830
I Root For: Memphis
Location:
Post: #26
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 02:16 PM)Marc Mensa Wrote:  
(10-08-2019 01:55 PM)UofMstateU Wrote:  
(10-08-2019 01:42 PM)Marc Mensa Wrote:  
(10-08-2019 01:38 PM)200yrs2late Wrote:  
(10-08-2019 01:13 PM)Marc Mensa Wrote:  BS

The recent spike in deficits is due to decreases in revenues. Revenues came in at 16.5% of GDP in 2018. When President Obama left office, they were back up to 18% after being as low as 14.5%. Spending was at 20.8 when Obama left office and its now at 20.3%. These deficit spikes are due to a cut in revenues, not a spike in spending.

https://www.cbo.gov/system/files/2019-05...tdata.xlsx

Yeah, you can't measure revenue as a percent of GDP and compare it to deficit spending unless you also measure deficit as a percent of GDP.

Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.

What’s moronic is believing $1 in 2018 is equal to $1 in 2008. The cost of living increases every year... the population increases every year... and if you're using yesterday’s dollars to balance today’s books then you’re eventually going to come up empty.

If you can’t comprehend why GDP is used as the measuring stick, then you’re willfully ignorant.

Did you seriously learn how to calculate the deficit by reading RedWingTom's book of insurance terms?
10-08-2019 02:23 PM
Find all posts by this user Quote this message in a reply
Marc Mensa Online
You'll Get Nothing and Like It
*

Posts: 8,921
Joined: Mar 2004
Reputation: 298
I Root For: The Underdog
Location: Samaria
Post: #27
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 02:21 PM)bearcat65 Wrote:  
(10-08-2019 02:16 PM)Marc Mensa Wrote:  
(10-08-2019 01:55 PM)UofMstateU Wrote:  
(10-08-2019 01:42 PM)Marc Mensa Wrote:  
(10-08-2019 01:38 PM)200yrs2late Wrote:  Yeah, you can't measure revenue as a percent of GDP and compare it to deficit spending unless you also measure deficit as a percent of GDP.

Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.

What’s moronic is believing $1 in 2018 is equal to $1 in 2008. The cost of living increases every year... the population increases every year... and if you're using yesterday’s dollars to balance today’s books then you’re eventually going to come up empty.

If you can’t comprehend why GDP is used as the measuring stick, then you’re willfully ignorant.

Revenue is not the issue. Period.

The budget data suggests otherwise.
10-08-2019 02:23 PM
Find all posts by this user Quote this message in a reply
bearcat65 Offline
1st String
*

Posts: 2,075
Joined: Jan 2004
Reputation: 81
I Root For:
Location:
Post: #28
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 02:23 PM)Marc Mensa Wrote:  
(10-08-2019 02:21 PM)bearcat65 Wrote:  
(10-08-2019 02:16 PM)Marc Mensa Wrote:  
(10-08-2019 01:55 PM)UofMstateU Wrote:  
(10-08-2019 01:42 PM)Marc Mensa Wrote:  Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.

What’s moronic is believing $1 in 2018 is equal to $1 in 2008. The cost of living increases every year... the population increases every year... and if you're using yesterday’s dollars to balance today’s books then you’re eventually going to come up empty.

If you can’t comprehend why GDP is used as the measuring stick, then you’re willfully ignorant.

Revenue is not the issue. Period.

The budget data suggests otherwise.

Common sense suggests something else. Cut spending.
10-08-2019 02:30 PM
Find all posts by this user Quote this message in a reply
gdunn Offline
Repping E-Gang Colors
*

Posts: 16,812
Joined: Oct 2011
Reputation: 1045
I Root For: Southern Miss
Location: Pennsylvania

Survivor Champion
Post: #29
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 02:23 PM)UofMstateU Wrote:  
(10-08-2019 02:16 PM)Marc Mensa Wrote:  
(10-08-2019 01:55 PM)UofMstateU Wrote:  
(10-08-2019 01:42 PM)Marc Mensa Wrote:  
(10-08-2019 01:38 PM)200yrs2late Wrote:  Yeah, you can't measure revenue as a percent of GDP and compare it to deficit spending unless you also measure deficit as a percent of GDP.

Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.

What’s moronic is believing $1 in 2018 is equal to $1 in 2008. The cost of living increases every year... the population increases every year... and if you're using yesterday’s dollars to balance today’s books then you’re eventually going to come up empty.

If you can’t comprehend why GDP is used as the measuring stick, then you’re willfully ignorant.

Did you seriously learn how to calculate the deficit by reading RedWingTom's book of insurance terms?
He's the same guy that has issues getting reimbursed for mileage on his vehicle he uses for work.
10-08-2019 03:32 PM
Find all posts by this user Quote this message in a reply
Eagleaidaholic Offline
1st String
*

Posts: 1,533
Joined: Jun 2010
Reputation: 122
I Root For: Southern Miss
Location:
Post: #30
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 02:16 PM)Marc Mensa Wrote:  
(10-08-2019 01:55 PM)UofMstateU Wrote:  
(10-08-2019 01:42 PM)Marc Mensa Wrote:  
(10-08-2019 01:38 PM)200yrs2late Wrote:  
(10-08-2019 01:13 PM)Marc Mensa Wrote:  BS

The recent spike in deficits is due to decreases in revenues. Revenues came in at 16.5% of GDP in 2018. When President Obama left office, they were back up to 18% after being as low as 14.5%. Spending was at 20.8 when Obama left office and its now at 20.3%. These deficit spikes are due to a cut in revenues, not a spike in spending.

https://www.cbo.gov/system/files/2019-05...tdata.xlsx

Yeah, you can't measure revenue as a percent of GDP and compare it to deficit spending unless you also measure deficit as a percent of GDP.

Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.

What’s moronic is believing $1 in 2018 is equal to $1 in 2008. The cost of living increases every year... the population increases every year... and if you're using yesterday’s dollars to balance today’s books then you’re eventually going to come up empty.

If you can’t comprehend why GDP is used as the measuring stick, then you’re willfully ignorant.
You didn't have a problem doing that when you were comparing the Dow Jones during the Obama presidency and the Trump presidency.
10-08-2019 03:35 PM
Find all posts by this user Quote this message in a reply
Marc Mensa Online
You'll Get Nothing and Like It
*

Posts: 8,921
Joined: Mar 2004
Reputation: 298
I Root For: The Underdog
Location: Samaria
Post: #31
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 03:35 PM)Eagleaidaholic Wrote:  
(10-08-2019 02:16 PM)Marc Mensa Wrote:  
(10-08-2019 01:55 PM)UofMstateU Wrote:  
(10-08-2019 01:42 PM)Marc Mensa Wrote:  
(10-08-2019 01:38 PM)200yrs2late Wrote:  Yeah, you can't measure revenue as a percent of GDP and compare it to deficit spending unless you also measure deficit as a percent of GDP.

Just click the link...

f*ck the link. You dont calculate a deficit by subtracting the expenses from the % of revenue to GDP. Thats moronic.

What’s moronic is believing $1 in 2018 is equal to $1 in 2008. The cost of living increases every year... the population increases every year... and if you're using yesterday’s dollars to balance today’s books then you’re eventually going to come up empty.

If you can’t comprehend why GDP is used as the measuring stick, then you’re willfully ignorant.
You didn't have a problem doing that when you were comparing the Dow Jones during the Obama presidency and the Trump presidency.


Not sure what you’re talking about... the Dow almost doubled in value during Obama’s term, but I don’t recall making comparatives.
10-08-2019 04:08 PM
Find all posts by this user Quote this message in a reply
stinkfist Offline
laughing at MSM meltdown
*

Posts: 43,994
Joined: Nov 2011
Reputation: 2269
I Root For: StL Cards
Location: who knows?
Post: #32
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 01:17 PM)UofMstateU Wrote:  
(10-08-2019 01:13 PM)Marc Mensa Wrote:  
(10-08-2019 05:20 AM)Owl 69/70/75 Wrote:  Most of that was built into the Obama budgets. Look at the CBO projections of January 2017, made before Trump took office and not incorporating any Trump proposals. I'm not excusing Trump. He said he was going to balance the budget and he hasn't. But this is the mostly Obama with a bit of Trump added on deficit.

BS

The recent spike in deficits is due to decreases in revenues. Revenues came in at 16.5% of GDP in 2018. When President Obama left office, they were back up to 18% after being as low as 14.5%. Spending was at 20.8 when Obama left office and its now at 20.3%. These deficit spikes are due to a cut in revenues, not a spike in spending.

https://www.cbo.gov/system/files/2019-05...tdata.xlsx

REVENUES ARE NOT MEASURED AS A PERCENT OF ANYTHING. REVENUE IS ACTUAL MONEY COMING INTO THE TREASURY. ONLY A COMPLETE ASSHAT JACKOFF BELIEVES OTHERWISE. DONT BE THE JACKOFF.

AMEN!!!

#POD!!!

#MUHPERCENTAGES never fails to crack my arse up!!!
10-08-2019 04:19 PM
Find all posts by this user Quote this message in a reply
Owl 69/70/75 Online
Just an old rugby coach
*

Posts: 62,178
Joined: Sep 2005
Reputation: 1428
I Root For: RiceBathChelsea
Location: Montgomery, TX

DonatorsNew Orleans Bowl
Post: #33
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 01:13 PM)Marc Mensa Wrote:  
(10-08-2019 05:20 AM)Owl 69/70/75 Wrote:  Most of that was built into the Obama budgets. Look at the CBO projections of January 2017, made before Trump took office and not incorporating any Trump proposals. I'm not excusing Trump. He said he was going to balance the budget and he hasn't. But this is the mostly Obama with a bit of Trump added on deficit.
BS
The recent spike in deficits is due to decreases in revenues. Revenues came in at 16.5% of GDP in 2018. When President Obama left office, they were back up to 18% after being as low as 14.5%. Spending was at 20.8 when Obama left office and its now at 20.3%. These deficit spikes are due to a cut in revenues, not a spike in spending.
https://www.cbo.gov/system/files/2019-05...tdata.xlsx

Liar, liar, pants on fire. More specifically, nothing that you reference there refutes the point I was making.

Go to the specific document that I was referencing at:

https://www.cbo.gov/system/files/2019-04...lumn_1.pdf

Note first that the introductory notes state very clearly and specifically, "CBO’s projections were completed before the new Administration took office on January 20, 2017. They do not incorporate any effects of executive orders or other actions taken by that Administration."

So what do they show as the deficit progression under Obama legacy programs? By year ($billions), at page 103:

2017 -559
2018 -487
2019 -601
2020 -684
2021 -797
2022 -959
2023 -1,000
2024 -1,027
2025 -1,165
2026 -1,297

Obama was a very clever illusionist. He got out at about the time that the deficit bottomed out, but he baked enough time bombs into his programs that his successor would inevitably have to deal with a ballooning deficit.

By the way, a similar path was projected in prior CBO reports, all dealing strictly with Obama legacy revenue sources and programs. For example, the August 2016 baseline was $131 billion worse for 2017-2021 and $6 billion better for 2022-2026.

Yes, Trump has driven deficits higher with tax cuts. But he didn't start with a declining deficit. Instead, he was left a growing deficit by Obama.
10-08-2019 05:32 PM
Find all posts by this user Quote this message in a reply
Marc Mensa Online
You'll Get Nothing and Like It
*

Posts: 8,921
Joined: Mar 2004
Reputation: 298
I Root For: The Underdog
Location: Samaria
Post: #34
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 05:32 PM)Owl 69/70/75 Wrote:  
(10-08-2019 01:13 PM)Marc Mensa Wrote:  
(10-08-2019 05:20 AM)Owl 69/70/75 Wrote:  Most of that was built into the Obama budgets. Look at the CBO projections of January 2017, made before Trump took office and not incorporating any Trump proposals. I'm not excusing Trump. He said he was going to balance the budget and he hasn't. But this is the mostly Obama with a bit of Trump added on deficit.
BS
The recent spike in deficits is due to decreases in revenues. Revenues came in at 16.5% of GDP in 2018. When President Obama left office, they were back up to 18% after being as low as 14.5%. Spending was at 20.8 when Obama left office and its now at 20.3%. These deficit spikes are due to a cut in revenues, not a spike in spending.
https://www.cbo.gov/system/files/2019-05...tdata.xlsx

Liar, liar, pants on fire. More specifically, nothing that you reference there refutes the point I was making.

Go to the specific document that I was referencing at:

https://www.cbo.gov/system/files/2019-04...lumn_1.pdf

Note first that the introductory notes state very clearly and specifically, "CBO’s projections were completed before the new Administration took office on January 20, 2017. They do not incorporate any effects of executive orders or other actions taken by that Administration."

So what do they show as the deficit progression under Obama legacy programs? By year ($billions), at page 103:

2017 -559
2018 -487
2019 -601
2020 -684
2021 -797
2022 -959
2023 -1,000
2024 -1,027
2025 -1,165
2026 -1,297

Obama was a very clever illusionist. He got out at about the time that the deficit bottomed out, but he baked enough time bombs into his programs that his successor would inevitably have to deal with a ballooning deficit.

By the way, a similar path was projected in prior CBO reports, all dealing strictly with Obama legacy revenue sources and programs. For example, the August 2016 baseline was $131 billion worse for 2017-2021 and $6 billion better for 2022-2026.

Yes, Trump has driven deficits higher with tax cuts. But he didn't start with a declining deficit. Instead, he was left a growing deficit by Obama.

Take a minute to read what you link...
Just a cursory glance shows the CBO projected 4% revenue increases... from 17.4 in 2017 to 18.4 in 2027. Guess what? It ain’t happening... why? Because taxes were cut and revenues gave dropped to 16.5%.

Likewise, increases in mandatory expenditures namely SS and medicare are going to be the primary deficit drivers in the “out” years... not some sinister plot from Obama. The looming deficit spike is one of the most predictable financial crisis’ in history. Everyone has known its on the way, but few are willing to tackle it. The recent spike, however, was not predicted by the cbo, and is purely the responsibility of the Trump tax cut.


From your posted 2016 article of CBO projections ... which is perfect because it does not take into account the impending Trump cuts...

“As required by statute, when constructing its 10-year baseline projections, CBO incorporates the assumption that current laws governing taxes and spending will generally remain unchanged in future years.4 Under that assumption, in CBO’s baseline for the 2017–2027 period:

 Revenues rise by about 4 percent a year, on average, increasing from 17.8 percent of gross domestic product (GDP) in 2017 to 18.4 percent in 2027—about a percentage point above their average over the 50-year period from 1967 to 2016
(see Figure 1-2).

 Outlays rise faster than revenues—by about 5 percent a year, on average— increasing from 20.7 percent of GDP in 2017 to 23.4 percent in 2027, approximately 3 percentage points above their 50-year average. Relative to the size of the economy, the increase in mandatory spending—specifically, for Social Security and Medicare—and payments for interest on the government’s debt would more than offset a significant projected decline in discretionary outlays, which are already more than 2 percentage points below their 50-year average.

 The deficit falls over the next two years—in large part because of shifts in the timing of some payments that affected outlays in 2016 and will do so again in 2017 and 2018—reaching a low of $487 billion in 2018. However, the deficit increases over the remainder of the projection period, reaching $1.4 trillion or 5.0 percent of GDP in 2027 (see Table 1-1 on page 94). Over the past 50 years, the annual deficit has averaged 2.8 percent of GDP.
(This post was last modified: 10-08-2019 06:24 PM by Marc Mensa.)
10-08-2019 06:23 PM
Find all posts by this user Quote this message in a reply
Owl 69/70/75 Online
Just an old rugby coach
*

Posts: 62,178
Joined: Sep 2005
Reputation: 1428
I Root For: RiceBathChelsea
Location: Montgomery, TX

DonatorsNew Orleans Bowl
Post: #35
RE: Federal deficit estimated at 984 Billion, highest in seven years
But you ignore my point. That even without any Trump changes, CBO projected rapidly-increasing deficits under legacy Obama policies.
10-08-2019 06:30 PM
Find all posts by this user Quote this message in a reply
stinkfist Offline
laughing at MSM meltdown
*

Posts: 43,994
Joined: Nov 2011
Reputation: 2269
I Root For: StL Cards
Location: who knows?
Post: #36
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 06:30 PM)Owl 69/70/75 Wrote:  But you ignore my point. That even without any Trump changes, CBO projected rapidly-increasing deficits under legacy Obama policies.

it was a given and by design....

that's how politics gins the system....they know the USD is the measurable that rules the planet....

it's why I despise career politicians....
10-08-2019 06:41 PM
Find all posts by this user Quote this message in a reply
Marc Mensa Online
You'll Get Nothing and Like It
*

Posts: 8,921
Joined: Mar 2004
Reputation: 298
I Root For: The Underdog
Location: Samaria
Post: #37
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 06:30 PM)Owl 69/70/75 Wrote:  But you ignore my point. That even without any Trump changes, CBO projected rapidly-increasing deficits under legacy Obama policies.

Rapidly increasing deficits have been projected long before President Obams took office... simply because many more people would be pulling from SS and Medicare than contributing, and the CBO acknowledges as much.

The current deficit spike we are incurring now, however, is a result of decreased revenues. The projected outlays from are exactly where the CBO projected in 2016... the revenues, however, are off by 300 billion... and that 300 billion is due to the tax cut.
10-08-2019 07:03 PM
Find all posts by this user Quote this message in a reply
stinkfist Offline
laughing at MSM meltdown
*

Posts: 43,994
Joined: Nov 2011
Reputation: 2269
I Root For: StL Cards
Location: who knows?
Post: #38
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 07:03 PM)Marc Mensa Wrote:  
(10-08-2019 06:30 PM)Owl 69/70/75 Wrote:  But you ignore my point. That even without any Trump changes, CBO projected rapidly-increasing deficits under legacy Obama policies.

Rapidly increasing deficits have been projected long before President Obams took office... simply because many more people would be pulling from SS and Medicare than contributing, and the CBO acknowledges as much.

The current deficit spike we are incurring now, however, is a result of decreased revenues. The projected outlays from are exactly where the CBO projected in 2016... the revenues, however, are off by 300 billion... and that 300 billion is due to the tax cut.

proof?

yeah, that's what I thought...

the bold text was a given moons ago....
10-08-2019 07:10 PM
Find all posts by this user Quote this message in a reply
Marc Mensa Online
You'll Get Nothing and Like It
*

Posts: 8,921
Joined: Mar 2004
Reputation: 298
I Root For: The Underdog
Location: Samaria
Post: #39
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 07:10 PM)stinkfist Wrote:  
(10-08-2019 07:03 PM)Marc Mensa Wrote:  
(10-08-2019 06:30 PM)Owl 69/70/75 Wrote:  But you ignore my point. That even without any Trump changes, CBO projected rapidly-increasing deficits under legacy Obama policies.

Rapidly increasing deficits have been projected long before President Obams took office... simply because many more people would be pulling from SS and Medicare than contributing, and the CBO acknowledges as much.

The current deficit spike we are incurring now, however, is a result of decreased revenues. The projected outlays from are exactly where the CBO projected in 2016... the revenues, however, are off by 300 billion... and that 300 billion is due to the tax cut.

proof?

yeah, that's what I thought...

the bold text was a given moons ago....

Proof of what?
10-08-2019 07:26 PM
Find all posts by this user Quote this message in a reply
Owl 69/70/75 Online
Just an old rugby coach
*

Posts: 62,178
Joined: Sep 2005
Reputation: 1428
I Root For: RiceBathChelsea
Location: Montgomery, TX

DonatorsNew Orleans Bowl
Post: #40
RE: Federal deficit estimated at 984 Billion, highest in seven years
(10-08-2019 07:03 PM)Marc Mensa Wrote:  
(10-08-2019 06:30 PM)Owl 69/70/75 Wrote:  But you ignore my point. That even without any Trump changes, CBO projected rapidly-increasing deficits under legacy Obama policies.
Rapidly increasing deficits have been projected long before President Obams took office... simply because many more people would be pulling from SS and Medicare than contributing, and the CBO acknowledges as much.
The current deficit spike we are incurring now, however, is a result of decreased revenues. The projected outlays from are exactly where the CBO projected in 2016... the revenues, however, are off by 300 billion... and that 300 billion is due to the tax cut.

And I would agree that maybe $300 billion is due to Trump. That leaves over $600 billion due to legacy Obama programs. Which is what I’ve been saying all along.
10-08-2019 08:05 PM
Find all posts by this user Quote this message in a reply
Post Reply 




User(s) browsing this thread: 1 Guest(s)


Copyright © 2002-2019 Collegiate Sports Nation Bulletin Board System (CSNbbs), All Rights Reserved.
CSNbbs is an independent fan site and is in no way affiliated to the NCAA or any of the schools and conferences it represents.
This site monetizes links. FTC Disclosure.
We allow third-party companies to serve ads and/or collect certain anonymous information when you visit our web site. These companies may use non-personally identifiable information (e.g., click stream information, browser type, time and date, subject of advertisements clicked or scrolled over) during your visits to this and other Web sites in order to provide advertisements about goods and services likely to be of greater interest to you. These companies typically use a cookie or third party web beacon to collect this information. To learn more about this behavioral advertising practice or to opt-out of this type of advertising, you can visit http://www.networkadvertising.org.
Powered By MyBB, © 2002-2019 MyBB Group.