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

[txradioguy]

I thought the deficit was down from the Obama years.



https://www.usgovernmentdebt.us/us_deficit

I think there are some that are getting debt and deficit confused.

[Frank Cannon]

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.

For well over 40 years now this has been an issue. Nothing has been done to correct the issue and it has gotten worse. Nothing has happened as a result.

You can sit pounding away at a keyboard at a very limited audience like Chicken Little. I'm going to go on with my life and worry about real shit I can actually see. We'll see who has the richer life in the end.

[INVAR]

For well over 40 years now this has been an issue. Nothing has been done to correct the issue and it has gotten worse. Nothing has happened as a result.

You can sit pounding away at a keyboard at a very limited audience like Chicken Little. I'm going to go on with my life and worry about real shit I can actually see. We'll see who has the richer life in the end.

Your posterity won't. 

And they will curse your memory.

As well as mine when they get to suffer the consequences we have sown in indifference, just so we can enjoy our rich lives without concern for anything but ourselves.

[DB]

For well over 40 years now this has been an issue. Nothing has been done to correct the issue and it has gotten worse. Nothing has happened as a result.

You can sit pounding away at a keyboard at a very limited audience like Chicken Little. I'm going to go on with my life and worry about real shit I can actually see. We'll see who has the richer life in the end.

I've crossed that bridge for 40 years... The growing cracks have never been a problem...

[Suppressed]

For well over 40 years now this has been an issue. Nothing has been done to correct the issue and it has gotten worse. Nothing has happened as a result.

You can sit pounding away at a keyboard at a very limited audience like Chicken Little. I'm going to go on with my life and worry about real shit I can actually see. We'll see who has the richer life in the end.

[endicom]

You can ignore the laws of economics all you like.

Economics is a social science.

[DB]

Economics is a social science.

Math isn't.

[Frank Cannon]

And they will curse your memory.

As well as mine when they get to suffer the consequences we have sown in indifference, just so we can enjoy our rich lives without concern for anything but ourselves.

If you haven't got the memo, no one gives a shit about you after your dead unless you played ball well or were a world leader.

[LMAO]

For well over 40 years now this has been an issue. Nothing has been done to correct the issue and it has gotten worse. Nothing has happened as a result.

You can sit pounding away at a keyboard at a very limited audience like Chicken Little. I'm going to go on with my life and worry about real shit I can actually see. We'll see who has the richer life in the end.

 This is the second time in our history that our debt has been greater than our GDP.  The first time it was the result of a world war that could be cut back after the war ended. Today, so-called  entitlements are the issue

[Free Vulcan]

So glad it only took 10 years for USA Today to realize trillion dollar deficits are bad.

[skeeter]

Your posterity won't. 

And they will curse your memory.

As well as mine when they get to suffer the consequences we have sown in indifference, just so we can enjoy our rich lives without concern for anything but ourselves.

The same posterity who support the presidential candidate who promises to forgive their school loans? That posterity?

[Smokin Joe]

But I thought oil exports were going to save the petrodollar as the global reserve currency.....

mebbe, if he doesn't let The Congress pi$$ Away another 8 or 9 trillion we don't have.

[libertybele]

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.

Exactly. Certainly the deficit is a concern, but monies (though pale in comparison) are starting to come back into the U.S.  People are finding jobs.  The U.S. economy is growing; in the 2nd quarter it grew at it's fastest pace since 2014; that's 14 years!

http://fortune.com/2018/07/27/us-gdp-growth-trump/

https://www.heritage.org/jobs-and-labor/commentary/3-million-people-have-found-jobs-trump-took-office

https://www.bloomberg.com/news/articles/2018-06-21/trump-s-metal-tariffs-have-yielded-more-than-775-million-so-far

[INVAR]

The same posterity who support the presidential candidate who promises to forgive their school loans? That posterity?

No.  The posterity that has to pay 10 thousand dollars for a cup of coffee because of hyperinflation before the currency becomes worthless.

The posterity that has their income taxed at ninety-five plus percent to keep benefits flowing for those who got us into this mess to begin with.

The posterity that has empty shelves because the economy collapsed and everything goes black market as government imposes tighter and tighter controls to try and keep itself in power and in control.

The posterity who is painfully taught that they have to pay for all the free rides we took at their expense because we let government run the credit card up to levels that are greater than all the wealth that exists on the planet with no mathematical way to pay it back.

And the posterity that will know and understand firsthand that laws of economics - like physics, are exacting.  Especially when all the artificial attempts to defy it, fail and we all come crashing back to earth at terminal velocity.

[catfish1957]

Exactly. Certainly the deficit is a concern, but monies (though pale in comparison) are starting to come back into the U.S.  People are finding jobs. 

Could have heard the same quote in 1928.

[Formerly Once-Ler]

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

It seem like just a month has gone by...I month I call Helluary.

[roamer_1]

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.

Exactly right - Though Maggie Thatcher said it more succinctly.

[libertybele]

Could have heard the same quote in 1928.

Something also to be said of the U.S. abandoning the gold standard five years later.

[INVAR]

Something also to be said of the U.S. abandoning the gold standard five years later.

You can only artificially defy natural law for a time before the law exacts and reasserts itself.

Thrust and lift can defy the laws of gravity... until the fuel that creates thrust runs out - and then gravity again reasserts itself.

Economics is just like that.  Defy the laws of economics with artificial thrust and lift - and when the fuel of confidence in fiat currency and debt ratio to GDP asserts itself - down to earth we will come. 

Hard.

[skeeter]

And the posterity that will know and understand firsthand that laws of economics - like physics, are exacting.  Especially when all the artificial attempts to defy it, fail and we all come crashing back to earth at terminal velocity.

Of course I agree the economic law is exacting, and there will be an eventual accounting.

My point is my 'posterity' seems every bit as if not more keen on government as the solution and involvement in everyone's lives, with the costs attendant, than preceding generations were.

They've got alot to learn before they'll know whom to blame.

[jmyrlefuller]

At the rate the birth rate is headed, no one will have to worry about what our posterity will do because there won't be any posterity. They think they can avoid that by simply not having kids. We are already below replacement.

[INVAR]

At the rate the birth rate is headed, no one will have to worry about what our posterity will do because there won't be any posterity. They think they can avoid that by simply not having kids. We are already below replacement.

Thus the Barbarians we have let into our gates to replace us.

We have already been invaded, and are being outbred by Mexicans, South Americans and Muslims from the Middle East that have been brought here by our government and mostly live off our dime.

We are paying for our own eradication.

[Right_in_Virginia]

I wonder why this isn't a campaign issue for conservatives running for election in the midterms.   

[catfish1957]

I wonder why this isn't a campaign issue for conservatives running for election in the midterms.   

That Trump put the country another $3T in debt?  You really got to ponder that?

[Timothy Dennis]

The Dems would run (under Bernie Sanders) a reported 15 TRILLION-dollar deficit for single-payer health insurance alone. Clinton, should she run again, would likely be at least half of that. Trump's plan is significantly less.Talk about putting the country on a path to financial ruin!