November 8, 2018 at 1:50 pm #40106
doesn’t take much sleuthing power, yet so many Americans just aren’t equipped to see it. It’s not blindness, rather it seems to a form of short sightedness. It’s not stupidity (in most cases), but it clearly reflects a whole lot of ignorance.
Two quick facts:
The deficit in the first 11 months of this fiscal year has risen by a third vs year ago
Federal spending rose by 7%, outpacing revenue gains of 1%.
The U.S. fiscal gap has ballooned under President Donald Trump, raising concerns the country’s debt load, now at $21.5 trillion, is growing out of control. A combination of Republican tax cuts enacted this year — that will add up to about $1.5 trillion over a decade — and increased government spending are adding to budget strains.
The White House says the tax cuts will pay for themselves by creating more revenue through faster economic growth. The International Monetary Fund has warned the tax reductions risk putting the nation’s debt on an unsustainable path and could cause the economy to overheat.
So, if this isn’t a great example of runaway Republican greed, then it must be proof of GOP inabilities to run the country unless running the economy into the ground is their goal.
However, this relatively upbeat picture masks numerous concerns. This has been the weakest post-recession recovery on record. Productivity growth remains puzzlingly weak. Investment growth has been subdued, and in developing economies it has slowed sharply since 2010.1 And in many countries the social and political fabric has been badly frayed by many years of stagnating real incomes.
We’re overdue (statistically) for a recession and the instability in the financial markets is not some left wing plot, it’s reality.
Without the robust economy, drumpf support will not just wither, it will implode.November 8, 2018 at 8:20 pm #40115
Barry ran up a deficit more than all other Presidents combined and you’re going to lecture us about economics?
Beyond laughable.November 8, 2018 at 8:50 pm #40116
Herb, people who aren’t blind partisans understand that Obama was handed a $1+ Trillion deficit the day he took office. When you have two wars and another Great Depression just over the horizon that requires hundreds of billions of dollars of emergency spending to stave off at a time when tax revenues have plunged, deficit spending is going to soar for a while. Obama cut the deficit in half by the time he left office.
Any reasonable person would expect deficits to be higher in bad economic times and lower when the economy booms. Republicans, of course, are not reasonable people and don’t really care about the deficit. They care about only cutting taxes. They cut taxes for the wealthy whenever they can get away with it, and once again after doing that, the deficit is soaring again, even as the economy booms. What’s going to happen with the next economic slow-down: $2 Trillion annual deficits? How are you going to blame THAT on Obama???November 8, 2018 at 11:57 pm #40120
“you’re going to lecture us about economics?”
Herb, I know your feeble mind has trouble when reality underscores your unfettered hypocrisy:
“The Treasury Department released figures on Monday showing the federal budget deficit widened by 17 percent in the 2018 fiscal year, to $779 billion. That’s an unusual jump for a year in which unemployment hit a five-decade low and the economy experienced a significant economic expansion. But the increase demonstrates that the tax cuts President Trump signed into law late last year have reduced federal revenues considerably, even against the backdrop of a booming economy.”November 9, 2018 at 9:47 am #40127
Fake news NYT.
You guys just can’t help yourself.November 9, 2018 at 10:38 am #40128
Does anyone remember Point/Counterpoint on 60 Minutes? Shana Alexander and Jack Kilpatrick. That’s what this board is like lately. Actually it’s more like the old SNL parody.
“Jane, you ignorant slut!”
“Dan, you pompous ass!”
Just an attempt at a humorous observation. Carry on.
November 9, 2018 at 7:54 pm #40130
- This reply was modified 1 week ago by lastday.
“Fake news NYT”
That’s all you got?
I used to think you were smarter than Trump, Herb.November 10, 2018 at 1:29 am #40133
Did you happen to catch the Wall Street Journal’s breaking news? https://www.wsj.com/articles/trump-directed-legal-action-to-enforce-stormy-danielss-hush-agreement-1538478000 Keeping in mind that this is the same owner as Fox News, it should be very interesting to see what the latter has to say about it. Are they going to call their sister network, “fake news”? Sorry, here’s a longer version that isn’t behind a pay wall but it was the Wall Street Journal that broke the story. https://www.msn.com/en-us/news/politics/trump-played-key-role-in-coordinating-hush-money-payments-to-daniels-mcdougal-report/ar-BBPwNO1?OCID=ansmsnnews11 Did you catch the part about them interviewing three dozen people?
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