Trump trillion-dollar-plus deficits are putting America on a path to fiscal ruin

[ABX]

That would be spending at a faster rate than Obama. But that's OK, he is wearing a R on his jersey.

It became very clear this month that neither the Trump White House nor its allies on Capitol Hill want you to know that the federal budget is already in very bad shape ... and getting worse.
It happened when the U.S. Treasury, the official keeper of Washington’s financial results, issued its monthly statement for the first 10 months of fiscal 2018 about federal revenues and spending and, therefore, the budget deficit.
Treasury showed what no president ever wants to admit: the deficit is spiking. The federal government’s red ink this year is already 21 percent above what it was in 2017 and there are few prospects that the bottom line will improve anytime soon.....

https://www.usatoday.com/story/opinion/2018/08/20/donald-trump-trillion-dollar-plus-deficits-fiscal-ruin-column/986236002/

[Night Hides Not]

Where was USA Today during the Obama years? Now that interest rates are going up, the deficits will start looking even worse.

I completely agree with @AbaraXas , all is forgiven when there's an "R" after the name.

[txradioguy]

Maybe he thinks he can just file Chapter 11 and get rid of all the debt that way.

[ABX]

Where was USA Today during the Obama years? Now that interest rates are going up, the deficits will start looking even worse.

I completely agree with @AbaraXas , all is forgiven when there's an "R" after the name.

It seems as the Democrats are going full blown, unapologetic Communist, Republicans are taking their place as the Democrat party of old. At that, it seems there are very few things now different from Jimmy Carter Democrats of the 70s as Republicans of today.

[Night Hides Not]

Maybe he thinks he can just file Chapter 11 and get rid of all the debt that way.

It's an established fact that Trump's companies have filed for bankruptcy on multiple occasions. He called himself the "King of Debt", didn't he?

[Night Hides Not]

It seems as the Democrats are going full blown, unapologetic Communist, Republicans are taking their place as the Democrat party of old. At that, it seems there are very few things now different from Jimmy Carter Democrats of the 70s as Republicans of today.

It's exacerbated by the fact that the Legislative Branch has almost completely advocated its responsibility as the third member of the federal government.

[TomSea]

Article marked clearly as an opinion piece.

[TomSea]

Trump has the CNBC guy, Kudlow. I've got to think someone over there knows what they are doing.

[ABX]

Trump has the CNBC guy, Kudlow. I've got to think someone over there knows what they are doing.

Kudlow, the guy who thinks a 23% increase is a decrease.  He has mastered Louis Farrakhan math. https://www.marketwatch.com/story/this-is-how-larry-kudlow-defines-a-falling-deficit-2018-06-29

[txradioguy]

It's an established fact that Trump's companies have filed for bankruptcy on multiple occasions. He called himself the "King of Debt", didn't he?

And he's fond of the title too it would seem.

Donald Trump, speaking with CNBC, praised himself as the "king of debt,” adding, "I love debt; I love playing with it."

Trump pontificated, "We're paying a very low interest rate. What happens if that interest rate goes up 2, 3, 4 points? We don't have a country. We do need money to rebuild the infrastructure of the country.”

https://www.dailywire.com/news/5499/trump-im-king-debt-hank-berrien

[txradioguy]

Article marked clearly as an opinion piece.

And yet it has to do with current politics as well...so it works well in either place.

At least you didn't publicly tag the owner at the end of your fit passive aggressiveness like some people here do.

[jmyrlefuller]

For the record, the trillion-dollar deficits started under Bush and the Democrat congress, then made worse by Obama before sequestration. They're not just Trump's, but he's not helping.

[txradioguy]

For the record, the trillion-dollar deficits started under Bush and the Democrat congress, then made worse by Obama before sequestration. They're not just Trump's, but he's not helping.

Bush left office as the biggest spending President in American history...Obama took over and said "hold my beer" and now Trump is saying "wanna see something cool?"

[musiclady]

Bush left office as the biggest spending President in American history...Obama took over and said "hold my beer" and now Trump is saying "wanna see something cool?"

And, "I can do everything bigger and better than anyone else in history.  Watch me!"

What was bad under Bush, worse under Obama is not now good under Trump.

[ABX]

For the record, the trillion-dollar deficits started under Bush and the Democrat congress, then made worse by Obama before sequestration. They're not just Trump's, but he's not helping.

True, but Trump is just making it worse at a far faster rate than before.

What's more troubling though (after all, he is just doing what a politician does- tax and spend), is that now, so-called Conservatives are now defending and even praising deficit spending. At least under Bush we complained about it even though he wore an R on his jersey. This, along with so many things, is reflecting a fundamental shift in the political parties leftward and those who in the past spoke against it, are cheering it to thunderous applause.

[Frank Cannon]

True, but Trump is just making it worse at a far faster rate than before.

What's more troubling though (after all, he is just doing what a politician does- tax and spend), is that now, so-called Conservatives are now defending and even praising deficit spending. At least under Bush we complained about it even though he wore an R on his jersey. This, along with so many things, is reflecting a fundamental shift in the political parties leftward and those who in the past spoke against it, are cheering it to thunderous applause.

Bleh. I have been hearing from you deficit hawks for 3 or 4 decades now about how the the whole thing is going to collapse because of the deficit. I haven't seen things this good out on the streets in years. Dollar strong. People have jobs. Peoples lifestyles are getting better. Nothing you guys claim will happen ever happens. You guys now have about as much credibility as the Peak Oil druids.

Wake me up when something actually happens because of the deficit.

[catfish1957]

For the record, the trillion-dollar deficits started under Bush and the Democrat congress, then made worse by Obama before sequestration. They're not just Trump's, but he's not helping.

Except the SOB made a campaign promise on March 31, 2016 WP interview to eliminate  the deficit in 8 years.  Oops....    duped again. 

Here's a little more insight.

https://www.thebalance.com/trump-plans-to-reduce-national-debt-4114401

[Timothy Dennis]

A Sanders-led government would be about 5 times that amount. Free everything.

[catfish1957]

Bleh. I have been hearing from you deficit hawks for 3 or 4 decades now about how the the whole thing is going to collapse because of the deficit. I haven't seen things this good out on the streets in years. Dollar strong. People have jobs. Peoples lifestyles are getting better. Nothing you guys claim will happen ever happens. You guys now have about as much credibility as the Peak Oil druids.

Wake me up when something actually happens because of the deficit.

Pfffffff...   When the house of cards finally collapses you really think you will need to be woke up.  You run up the credit card to infinity nuts crack me up.

[Frank Cannon]

Except the SOB made a campaign promise on March 31, 2016 WP interview to eliminate  the deficit in 8 years.  Oops....    duped again. 

Gosh. Has it been 8 years since Trump was elected? I better update my calendar.

[INVAR]

Bleh. I have been hearing from you deficit hawks for 3 or 4 decades now about how the the whole thing is going to collapse because of the deficit. I haven't seen things this good out on the streets in years. Dollar strong. People have jobs. Peoples lifestyles are getting better. Nothing you guys claim will happen ever happens. You guys now have about as much credibility as the Peak Oil druids.

Wake me up when something actually happens because of the deficit.

You can ignore the laws of economics all you like.

As long as we can print money out of thin air and people ascribe it value - you can continue the bullshit and ponzi schemes.

Once that faith in the fiat evaporates - we're gonna make Venezuela look like a picnic in the park. 

But you go ahead and let the Normalcy Bias tell you that we can continue to spend trillions in credit debt without consequence as long as it is a Republican spending it.

[catfish1957]

Gosh. Has it been 8 years since Trump was elected? I better update my calendar.

Add $5T instead of incrementally reducing the $18T?  Sounds like you need a calculator more than a calendar.

[txradioguy]

A Sanders-led government would be about 5 times that amount. Free everything.

Sad thing is Bernie is to the right of Trump on trade.

[thackney]

True, but Trump is just making it worse at a far faster rate than before.

I thought the deficit was down from the Obama years.



https://www.usgovernmentdebt.us/us_deficit

[Chosen Daughter]

It's an established fact that Trump's companies have filed for bankruptcy on multiple occasions. He called himself the "King of Debt", didn't he?

And the national debt adds up to every citizen $65,000

Every household almost $170,000

http://www.usadebtclock.com/