The Briefing Room
General Category => Economy/Business => Topic started by: OfTheCross on November 06, 2019, 02:12:00 pm
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During the 2016 campaign, President Donald Trump said he'd be able to wipe out the national debt in eight years. Instead, after three years in office, he's overseen a nearly 50 percent increase in the gap between how much the government takes in and how much it spends.
The Treasury Department announced Friday that the official federal deficit for fiscal year 2019, which ended in September, was $984 billion—in line with what the Congressional Budget Office (CBO) estimated last month. The announcement serves as official confirmation that the federal government's mountain of red ink has grown dramatically during Trump's first three years in the White House. It is now approaching levels not seen since the early Obama years.
(https://d2eehagpk5cl65.cloudfront.net/img/q60/uploads/2019/10/BudgetDeficit20002019.jpg)
The current deficit isn't the result of temporary circumstances like World War II or a major recession. It's a systemic deficit, a result of poor budgeting and bad decision-making by members of Congress and the current administration.
reason (https://reason.com/2019/10/25/federal-deficit-hit-984-billion-last-year-a-nearly-50-percent-increase-since-trump-took-office/)
Looking at the chart makes me think that had it not been for the Great Recession we might have had a surplus during the last Administration
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This may very well prove to be Trump's downfall, but then again, with the leftists promoting green energy and medicare for all, those that think that they won't increase the deficit even more are dead wrong.
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So long as everyone insists on getting their cut, this will never change.
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So long as everyone insists on getting their cut, this will never change.
Are you going to be the one to tell seniors who chipped in to SS their whole lives, and planned their retirement around it, it's their turn to suck eggs and let it go while watching illegal aliens and welfare recipients claim the money?
Good luck with that.
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The Looming ‘1984’ Election (https://www.amgreatness.com/2019/11/10/the-looming-1984-election/)
Like it or not, 2020 is going to be a plebiscite on an American version of Orwell’s Nineteen-Eighty-Four.
Victor Davis Hanson - November 10th, 2019
For a variety of reasons, the 2020 election is going to be a referendum beyond Donald Trump’s record and his Democratic opposition.
The furor that Trump has incurred, and the radical antithesis to his agenda and first term, have redefined the looming election. It is becoming a stark choice between a revolutionary future versus American traditionalism...
Everything I can see at the moment tells me that VDH has it exactly right.
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This may very well prove to be Trump's downfall, but then again, with the leftists promoting green energy and medicare for all, those that think that they won't increase the deficit even more are dead wrong.
I thought Trump, being a businessman, would refuse any spending spree bills and tell congress he won't sign anything but a real balanced budget. But it looks like he will sign anything put in front of him.
But this is the fault of both parties. It's all about votes. Throw money and free stuff at the voters and they will vote for you.
And the voters themselves share the blame. Talk to any of them about the debt and deficit and you just get a blank stare. Most of the ones I have talked to just don't care about the debt and deficit as long as they think they are getting something for nothing.