Trillion-Dollar Deficits Don’t Make America Great

[OfTheCross]

At least 10 years ago we had a Global Financial Crisis to excuse it. What's the excuse for this now?

Ten years ago, the federal government reached a dismal milestone: a one-year deficit of $1 trillion. Now, like too many movie franchises, we’re getting the sequel whether we want it or not.

A new Congressional Budget Office report reveals that the federal deficit for the current fiscal year has once again exceeded $1 trillion.

The driving force behind America’s astronomical deficit is the rapid increase in spending. Federal outlays are up 7% compared to 2018, which far outstrips inflation, population growth, and the economy.

...

As the Tea Party dissipated, a lack of political pressure allowed big-spending legislators to pig out once more. Budget caps were repeatedly overridden, deficits crept back up, and America is now right back where it started 10 years ago: trillion-dollar deficits.

Although the 2019 deficit could ultimately dip below $1 trillion depending on September’s numbers, the fact remains that even a “mere” $960+ billion deficit for the year is inexcusable.

...

Germany, Canada, the United Kingdom, and France are all on pace to tame their debt. Americans should expect the same responsible governance from their elected officials, and hold them accountable if they continue down the fiscal primrose path.


thedailysignal

[jmyrlefuller]

I said it before, and I'll say it again: the U.S. dollar needs a 10:1 revalue to undo the rampant inflation that's gone on the past few decades. That'd cut the deficit from $1 trillion to 🆕$100 billion.

But that's just the first step, of course. This country can't continue spending $4 for every $3 that comes in forever. It's going to have to stop spending so much AND start getting more money into the coffers. And some of that is going to have to come from the 40% or so that isn't paying income tax at all, especially the 20% that gets more from the government than they pay in.

But the latter part, that has virtually no support.

[Wingnut]

We will never see a balanced budget or meaningful spending cuts to reduce the federal deficit until the US becomes a third world shithole.  Till then the Democrats welcome you to Eat, Drink and be Mary.

[Snarknado]

I don't wanna be Mary. Can I be Shirley?

[Wingnut]

I don't wanna be Mary. Can I be Shirley?

How about Sue.  A boy named....

[Night Hides Not]

How about Sue.  A boy named....

Did Johnny unwittingly write a song about a transgender?

[Wingnut]

Did Johnny unwittingly write a song about a transgender?

He was ahead of his time!  LOL

[Applewood]

We will never see a balanced budget or meaningful spending cuts to reduce the federal deficit until the US becomes a third world shithole.  Till then the Democrats welcome you to Eat, Drink and be Mary.

Just the Democrats?  Trust me.  The Republicans don't give a flying fig about the deficit either.

[Wingnut]

Just the Democrats?  Trust me.  The Republicans don't give a flying fig about the deficit either.

as long as identity politics rules congress there will never be a meeting of the minds between the parties.

[Applewood]

as long as identity politics rules congress there will never be a meeting of the minds between the parties.

I don't believe identity politics has anything to do with this.    Both parties just don't really care.  Spend, spend, spend and hope the country collapses years after these guys leave office.

[IsailedawayfromFR]

At least 10 years ago we had a Global Financial Crisis to excuse it. What's the excuse for this now?

why show something projected in order to make your point?

Anybody can project, and project inaccurately.

Much better to show actual history instead.

Your point is entirely misleading as a result.

Try again.

[berdie]

as long as identity politics rules congress there will never be a meeting of the minds between the parties.

I fear that is true.  There will never be a cohesive government...at least in my lifetime.

[Fishrrman]

Fishrrman fearless predictions:

No one reading this post will live long enough to see a balanced budget pass Congress again.

For that matter, I doubt many of those here will live to see few (any?) actual "budgets" (not continuing resolutions, etc.) get passed.

[roamer_1]

Fishrrman fearless predictions:

No one reading this post will live long enough to see a balanced budget pass Congress again.

For that matter, I doubt many of those here will live to see few (any?) actual "budgets" (not continuing resolutions, etc.) get passed.

True. Because Republicans are no longer Conservative, and too afraid of their shadows, voting for the lesser evil.

[LMAO]

Just the Democrats?  Trust me.  The Republicans don't give a flying fig about the deficit either.

Well they do. When they’re out of power. Whatever party is out of power cares about deficits and debt

Where is the TEA Party?

[cato potatoe]

Well they do. When they’re out of power. Whatever party is out of power cares about deficits and debt

Where is the TEA Party?

As far as the politicians?  Either retired, term limited, defeated, or subsumed under the populist GOP.