New Budget Deal Puts Final Nail in the Tea-Party Coffin

[InHeavenThereIsNoBeer]

Not exactly a Trump friendly site: https://www.businessinsider.com/trump-national-debt-deficit-compared-to-obama-bush-clinton-2019-2

He's not a fiscal conservative, but he's also not 0bama.

The second chart shows he's projected to be pretty much the same as 0.  And that's a CBO estimate, so we know which way the real numbers are going.

The first chart is just silliness, comparing percentage change in debt gives an automatic advantage to whomever inherited more debt.  If POTUS 0 inherits a 10T debt and leaves a 20T debt, that's 100%.  If POTUS T them comes in and runs up 10T more, that's only 50%.  And there's the issue of comparing the first two years, when 0's first year included a sudden 30% increase in federal spending, of course he's going to look worse on a percentage basis when only comparing the first two years.

[Sanguine]

Give him time... He's already knocking on Obama's door in only 4 years.

Good grief. 

[Sanguine]

The second chart shows he's projected to be pretty much the same as 0.  And that's a CBO estimate, so we know which way the real numbers are going.

The first chart is just silliness, comparing percentage change in debt gives an automatic advantage to whomever inherited more debt.  If POTUS 0 inherits a 10T debt and leaves a 20T debt, that's 100%.  If POTUS T them comes in and runs up 10T more, that's only 50%.  And there's the issue of comparing the first two years, when 0's first year included a sudden 30% increase in federal spending, of course he's going to look worse on a percentage basis when only comparing the first two years.

I pretty much agree.  The implication seemed to be that Trump was much worse than 0.  So far, that's not the case.

[InHeavenThereIsNoBeer]

Wrong. We will pay the harsh economic consequences of the debt within the next 10 years.

And you damn well know we were way past the red line long before Trump got to office.

Really?  I'd gladly bet you on that, except my position is that we don't see it in our lifetimes, so it's hard for me to get paid off if I'm right.

Debt service will continue to grow until any rational person can see it is unsustainable, but as long as we can borrow money it really doesn't matter (yet).  And as long as we can borrow money, we can service our short term debt.  As long as we service our short term debt, we can borrow more money, etc, etc.  It's got to get to the point where people aren't willing to lend to us before the consequences hit.

IMO, this means the Fed losing control of rates, which I could see as being not far off.  But then I see a period where the govt coerces the population into buying debt, and then plays some kind of game like SS where it buys the debt from itself, and then maybe even just running the printers with no debt backing.

Pretty sure that's all going to happen, I just don't think 10 years is anywhere near long enough for it to play out to the point where it starts to hurt.

[corbe]

https://www.cruz.senate.gov/?p=press_release&id=4598




I am hoping that this monstrosity gets killed off in the Senate.

In the brief time that I was traveling between appointments, I heard Limbo, with more 'pragmatism' in his voice than I could stomach, spewing about: "how there is nothing that Trump can do...  can't have bad optics during an election season...  can't let the Dems and media paint Trump as cruel....  and what's the difference of a few more hundred billion at this point..."

 

Say, I have an idea...  you could post the above as a new thread, maybe with the title: "Trump vs. Cruz, Budget Showdown!!"  I bet it would be a real smash!!

   There would be Blood everywhere @EdJames no doubt I'd be the first casualty.

[Sanguine]

https://www.cruz.senate.gov/?p=press_release&id=4598




I am hoping that this monstrosity gets killed off in the Senate.

In the brief time that I was traveling between appointments, I heard Limbo, with more 'pragmatism' in his voice than I could stomach, spewing about: "how there is nothing that Trump can do...  can't have bad optics during an election season...  can't let the Dems and media paint Trump as cruel....  and what's the difference of a few more hundred billion at this point..."

 

Say, I have an idea...  you could post the above as a new thread, maybe with the title: "Trump vs. Cruz, Budget Showdown!!"  I bet it would be a real smash!!

I'm sure other senators have spoken out against this bill.  I'm probably not on their mailing list. 

[EdJames]

   There would be Blood everywhere @EdJames no doubt I'd be the first casualty.

 

[EdJames]

I'm sure other senators have spoken out against this bill.  I'm probably not on their mailing list.

Ehhh...  "Trump vs. Kevin Cramer..." just doesn't have the same pizzazz...

 

[corbe]

   You must be on pretty good dope to believe in the wettest of your dreams that the self proclaimed 'Debt King' was gonna do anything about the Debt/Deficit.  It has never crossed my mind. 
   I did expect him to secure the Southern Border by now, though, proving I got good dope and have wet dreams.

[Free Vulcan]

A quick search on "trump budget deficit promise" displays multiple links to his statements/promises to lower the deficit, control spending, etc.

You're right, @Free Vulcan , we were way past the red line before Trump ran for President. Unfortunately, he's abdicated his responsibility on the deficit, in much the same way he's abdicated his responsibility on border security.

Based on his ACTIONS in office, I have no reason to believe anything he says. There are actions available to him as POTUS to deal with a recalcitrant Congress, but he has shown a reluctance to employ them.


ETA: As to the death of the TEA Party, that was accomplished in 2016, when GOP voters went for the populist Trump, a death that was aided and abetted by RINOs who used the principles of the TEA Party for their own aggrandizement.

I will agree about words not kept, except to add that the Executive, Legislative, and Judicial are all complicit.

[txradioguy]

Trump will be long gone and our children will be trying to pay this off.

More like our grandchildren and. Great grandchildren. My 1 month old grandson was on the hook for $700K of debt the moment he was born.

[txradioguy]

Orange man bad. Trump's uneducated racist voters are the problem.

Without them, we coulda had Jeb Bush, John Kasich or Hillary.

Here’s one of our so called “conservative “ members who...like the Liberals...is doing a happy dance at the prospective death of the Tea Party/Freedom Caucus.

I’m sure there’s more here doing the same happy dance but are too scared to admit it.

[Axeslinger]

Here’s one of our so called “conservative “ members who...like the Liberals...is doing a happy dance at the prospective death of the Tea Party/Freedom Caucus.

I’m sure there’s more here doing the same happy dance but are too scared to admit it.

@txradioguy
But, but, but.....TRUMP!!!!!!

[Cyber Liberty]

Getting thick...lol

 

[Hoodat]

New Budget Deal Puts Final Nail in the Tea-Party Coffin

Thanks to Trump and his Establishment allies.  'Drain the Swamp' has always been a load of BS.

[txradioguy]

Getting thick...lol

 

It’s hard not to be sarcastic given how some folks told us how Trump was gonna lead us to the Promised land and “drain the swamp” and how his business acumen was going to fix all our economic maladies.

[Hoodat]

SS and Medicare are popular because the cost is being passed down to a generation that isn’t old enough to vote yet. If people had to pay for the real cost of both, no debt or printing, they would lose their luster with the voters

Since when did the voters ever have a choice when it came to the Social Security Ponzi Scheme?   I would opt out right now if given a choice.  Having 12.5% of my income to invest for the next ten years will yield me more money than Social Security will ever pay.   On top of that, there will be an inheritance that can be handed down to my children when I die.

Social Security is the greatest evil ever perpetrated on the American taxpayer.  It guarantees the cycle of poverty continues generation after generation.  FDR knew what he was doing.

[Bigun]

Since when did the voters ever have a choice when it came to the Social Security Ponzi Scheme?   I would opt out right now if given a choice.  Having 12.5% of my income to invest for the next ten years will yield me more money than Social Security will ever pay.   On top of that, there will be an inheritance that can be handed down to my children when I die.

Social Security is the greatest evil ever perpetrated on the American taxpayer.  It guarantees the cycle of poverty continues generation after generation.  FDR knew what he was doing.

  Bernie Madof was doing the exact same thing and went to prison for it. 

[Cyber Liberty]

It’s hard not to be sarcastic given how some folks told us how Trump was gonna lead us to the Promised land and “drain the swamp” and how his business acumen was going to fix all our economic maladies.

It's easier to catch when you realize some have been sarcastic since the elevator ride.

[Formerly Once-Ler]

Since when did the voters ever have a choice when it came to the Social Security Ponzi Scheme?   I would opt out right now if given a choice.  Having 12.5% of my income to invest for the next ten years will yield me more money than Social Security will ever pay.   On top of that, there will be an inheritance that can be handed down to my children when I die.

Social Security is the greatest evil ever perpetrated on the American taxpayer.  It guarantees the cycle of poverty continues generation after generation.  FDR knew what he was doing.

Social Security is how we stick it to the socialist libs.  President Trump is thwarting their big tax and big handout agenda with conservative tariffs and farm subsidies.  #MAGA

[Smokin Joe]

A quick search on "trump budget deficit promise" displays multiple links to his statements/promises to lower the deficit, control spending, etc.

You're right, @Free Vulcan , we were way past the red line before Trump ran for President. Unfortunately, he's abdicated his responsibility on the deficit, in much the same way he's abdicated his responsibility on border security.

Based on his ACTIONS in office, I have no reason to believe anything he says. There are actions available to him as POTUS to deal with a recalcitrant Congress, but he has shown a reluctance to employ them.


ETA: As to the death of the TEA Party, that was accomplished in 2016, when GOP voters went for the populist Trump, a death that was aided and abetted by RINOs who used the principles of the TEA Party for their own aggrandizement.

There were a host of RINOs in the Freshman Class that came about with a great deal of TEA party support. Most of them forgot any promises to the TEA party folks before the ballots were counted.

[Smokin Joe]

Brought to you by the Marxist Income tax and the Federal reserve banks. Which BTW, are not federal!

And the line under that is that it will NEVER change for so long as we continue to abide the above mentioned things.

"There are thousands hacking at the branches of evil to one who is striking at the root." - Henry David  Thoreau

Oh come now! The Federal Reserve is just as Federal as Federal Express!

[Smokin Joe]

Ehhh...  "Trump vs. Kevin Cramer..." just doesn't have the same pizzazz...

 

Might play here, I'm just not sure how well...

[Smokin Joe]

It’s hard not to be sarcastic given how some folks told us how Trump was gonna lead us to the Promised land and “drain the swamp” and how his business acumen was going to fix all our economic maladies.

Like the old line..."Lay down your shovels, light up a Camel, this is the promised land...."

[Bigun]

Oh come now! The Federal Reserve is just as Federal as Federal Express!

   Every bit!