The Briefing Room
General Category => Economy/Business => Topic started by: Chosen Daughter on July 10, 2019, 02:40:26 am
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Make America's deficits great again
By Desmond Lachman, Opinion Contributor — 07/09/19 03:00 PM EDT
Two and a half years into his term, President Trump has little to show for breaking with erstwhile Republican Party orthodoxy on trade and budget policy.
Indeed, far from delivering on his promise to cut America’s trade deficit, Trump has presided over a ballooning deficit that’s on pace to be some 25 percent higher than when he took office. This is happening at a time when the budget deficit is widening and the country’s public debt is well on its way to exceeding 90 percent of GDP.
Sadly, the Trump administration seems unfazed by the country’s deteriorating long-run financial position. It shows no indication of correcting policy course to put the economy on a sounder long-run economic footing. This makes it all too likely that the country’s incipient twin deficit problem will only worsen in the remaining 18 months of Trump’s first term. That in turn will further mortgage the country’s economic future and diminish the U.S. dollar’s attractiveness as an international reserve currency.
https://thehill.com/opinion/finance/452045-make-americas-deficits-great-again
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Make America's deficits great again
By Desmond Lachman, Opinion Contributor — 07/09/19 03:00 PM EDT
Two and a half years into his term, President Trump has little to show for breaking with erstwhile Republican Party orthodoxy on trade and budget policy.
Indeed, far from delivering on his promise to cut America’s trade deficit, Trump has presided over a ballooning deficit that’s on pace to be some 25 percent higher than when he took office. This is happening at a time when the budget deficit is widening and the country’s public debt is well on its way to exceeding 90 percent of GDP.
Sadly, the Trump administration seems unfazed by the country’s deteriorating long-run financial position. It shows no indication of correcting policy course to put the economy on a sounder long-run economic footing. This makes it all too likely that the country’s incipient twin deficit problem will only worsen in the remaining 18 months of Trump’s first term. That in turn will further mortgage the country’s economic future and diminish the U.S. dollar’s attractiveness as an international reserve currency.
https://thehill.com/opinion/finance/452045-make-americas-deficits-great-again
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On the mark.
The abysmal ignorance of many regarding the R party is astonishing as these
insist the R's are upholders of conservative principle, a hysterical assertion.
From day 1, the R's have been the Party:
* of centralized and expansive Government in contrast to States Rights,
* of duties, excises and tariffs rather than free trade,
* of corporate and personal taxation.
Trumpet is just another in their endless queue of economic illiterates who
will spend every nickel and dime he gets his hands on.
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On the mark.
The abysmal ignorance of many regarding the R party is astonishing as these
insist the R's are upholders of conservative principle, a hysterical assertion.
From day 1, the R's have been the Party:
* of centralized and expansive Government in contrast to States Rights,
* of duties, excises and tariffs rather than free trade,
* of corporate and personal taxation.
Trumpet is just another in their endless queue of economic illiterates who
will spend every nickel and dime he gets his hands on.
Exactly right.
25% more than Obama, who spent twice as much as Bush, who spent more than all the other administrations put together.
There is no denying that this is most certainly not a Conservative administration.
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(http://scontent-lga3-1.xx.fbcdn.net/v/t1.0-9/66263603_3004484299609836_4457070447061630976_n.jpg?_nc_cat=103&_nc_oc=AQlobetQB0D90IXKMf6OcBt7gxdT1YI9vABW1nDTyPHWt6-yw4EouoUKho1WIO5h9lg&_nc_ht=scontent-lga3-1.xx&oh=b944d140783a222c3fd4171a0ec6b0cb&oe=5DC387FA)
I'll just leave this right here..... wink777
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I'll just leave this right here..... wink777
Why?
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Why?
Because 'Scientist' or no scientist, you need to look up the word 'Pragmatism'.
That is, if you haven't unplugged your internet too! :laugh:
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Because 'Scientist' or no scientist, you need to look up the word 'Pragmatism'.
That is, if you haven't unplugged your internet too! :laugh:
So a kind of 'Mussolini made the trains run on time' sort of thing?
No thanks.
Not ever.
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A show of hands of those who didn't think Trump would spend this countries coffers like a drunken sailor?
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A show of hands of those who didn't think Trump would spend this countries coffers like a drunken sailor?
Always proof-read before you hit-n-run. It's 'country's' my friend. happy77
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Always proof-read before you hit-n-run. It's 'country's' my friend. happy77
ack...slapped by the spelling and grammatical police at 7:30 a.m. Don't I at least get one coffee?
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A show of hands of those who didn't think Trump would spend this countries coffers like a drunken sailor?
Truth is, neither party gives a rat's backside about the debt and deficit. And I include Trump and every president before him. Oh, they might put on their frowny faces before prospective voters and promise to reign in the spending, but they never do. What do they care? They will continue to spend and spend; then when they leave office with a fat pension and benefits, they will also leave the problem for the next guy or gal to fix. Of course, their successors won't fix the problem either. And on and on it goes till this country finally becomes insolvent.
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An economist will tell you that it takes little time to grow a deficit, it takes much longer to arrest it.
Actions Trump has taken to arrest it will not be immediately seen include higher workforce, lower unemployment, lower food stamps, increased manufacturing which increases in tax base. Also requiring allies to take up more in military spending.
There are regrets as well on items he could have done of course.
Do not look for quick results. This is the long game.
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An economist will tell you that it takes little time to grow a deficit, it takes much longer to arrest it.
Actions Trump has taken to arrest it will not be immediately seen include higher workforce, lower unemployment, lower food stamps, increased manufacturing which increases in tax base. Also requiring allies to take up more in military spending.
There are regrets as well on items he could have done of course.
Do not look for quick results. This is the long game.
A REALLY long game if he's spending even more than Obummer.
And not a game we're going to win.
What's a few TRILLION more, eh?
There is *no* defense.
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An economist will tell you that it takes little time to grow a deficit, it takes much longer to arrest it.
Actions Trump has taken to arrest it will not be immediately seen include higher workforce, lower unemployment, lower food stamps, increased manufacturing which increases in tax base. Also requiring allies to take up more in military spending.
There are regrets as well on items he could have done of course.
Do not look for quick results. This is the long game.
What actions has Trump taken? Like @roamer_1 all I can see is more spending.
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What actions has Trump taken? Like @roamer_1 all I can see is more spending.
Strategery.
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If the recent good economic trends bring more money into the Treasury, which it should, it would be nice to see and equal focus on cutting down the debt.
I haven't even heard this mentioned by any politician in a long time.
Now that things are going well is the time to make this move.
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Is anyone here familiar with who appropriates money in the fedgov? Hint: Not the President!
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Is anyone here familiar with who appropriates money in the fedgov? Hint: Not the President!
It's his pen that signs it @Bigun .
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It's his pen that signs it @Bigun .
Yes, but he has no power to appropriate. Only to accept or reject what the CONGRESS has done.
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Yes, but he has no power to appropriate. Only to accept or reject what the CONGRESS has done.
Never mind... A few trillion more, and he'll institute draconian spending cuts... Save 250B and take his victory lap.
And all the people say WOOHOO!
more friggin winning. *****rollingeyes*****
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Never mind... A few trillion more, and he'll institute draconian spending cuts... Save 250B and take his victory lap.
And all the people say WOOHOO!
more friggin winning. *****rollingeyes*****
Put the blame where it belongs! This is NOT the president's fault despite everyone (seemingly) trying to make it so.
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Put the blame where it belongs! This is NOT the president's fault despite everyone (seemingly) trying to make it so.
Like it or not the buck stops right there at the top.
Like it always does.
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Yes, but he has no power to appropriate. Only to accept or reject what the CONGRESS has done.
And as far as I know, he has yet to veto these spending spree bills congress sends him.
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And as far as I know, he has yet to veto these spending spree bills congress sends him.
And what if he had? Do you expect that THIS congress would have sent him something better? If so, I have some Arizona swampland you should see.
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What actions has Trump taken? Like @roamer_1 all I can see is more spending.
if all u see is more spending, then nothing I could ever say can help you.
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Because 'Scientist' or no scientist, you need to look up the word 'Pragmatism'.
That is, if you haven't unplugged your internet too! :laugh:
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Hmm..........you should do stand up w/your gift for hilarity.
However reality intervenes.
For conservatives, principle obliterates pragmatism; the label
of unprincipled hustlers such as Dewey, James and Pierce who
had a 'new definition' of human nature every other day of the week.
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Folks... why do we keep complaining about the deficit...?
You're not going to live to "see it fixed".
Or... you better hope that you DON'T live that long...!
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You're not going to live to "see it fixed".
Sadly, I think you are right.
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* of duties, excises and tariffs rather than free trade,
That's how we funded this country for over 100 years. "Free trade" is a tool of foreign saboteurs that erodes our sovereignty by making us dependent upon foreign goods rather than taking advantage of our own resources... of which America has plenty.
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Folks... why do we keep complaining about the deficit...?
You're not going to live to "see it fixed".
Or... you better hope that you DON'T live that long...!
Riiiiight! Who cares about the money!
What's a few FREAKING TRILLION DOLLARS one way or another between friends, eh?
This is Venezuela level incompetence.
And if I don't see it come down, my children will.
Sooner or later that bill comes due.
And then we pay dearly.