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CBO Report doesn't look good

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posted on Jun, 26 2018 @ 07:21 PM
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originally posted by: burdman30ott6

originally posted by: Willtell
This will be Trump’s economy when the results of his tax cut for the rich, his tariffs and trade escapades, and how his deregulation work out in the near future.


Beyond that this so-called great economy is still Obama’s.


So if this is Obama's economy, it's safe to say the $21.1 Trillion in debt is creditable to Obama as well, yes? Or are you cherry pickin'?


Of course, but Trump will make it worse.

And btw I was never and am not now an Obama fan. But imo compared to Trump he is Abe Lincoln.


He made it better by helping to save the rich but at least he didn’t 100 percent kiss their behinds in that they had a Dodd-Frank bill to restrain banks from doing it again to us, that Trump and the GOP are trying to kill and let them go crazy again.

Republicans, the hypocrites they are, will make it worse, they always do.




posted on Jun, 26 2018 @ 07:24 PM
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originally posted by: Willtell
And btw I was never and am not now an Obama fan. But imo compared to Trump he is Abe Lincoln.

Responsible for bringing the two sides of America to each other's throats, dividing the nation like none believed could be done? I absolute agree with you on something, finally.



Republicans, the hypocrites they are, will make it worse, they always do.



Odd, I'm not rich, but I've always had a much better, much more secure bank account with Republicans in power, so my experiences definitely are 180 degrees off from your own.



posted on Jun, 26 2018 @ 07:32 PM
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a reply to: burdman30ott6

I quadrupled my income under Obama, so he did fine by me.



posted on Jun, 26 2018 @ 07:37 PM
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originally posted by: Greven
a reply to: burdman30ott6

I quadrupled my income under Obama, so he did fine by me.


Graduation does that.



posted on Jun, 26 2018 @ 07:45 PM
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You people don’t realize the sinister nature of the Republican Party. Sure some Democrats are stupid and corrupt but the Republican Party is practically a criminal enterprise—and right now Trump is the don.

Everybody does badly when they're in power except the rich



posted on Jun, 26 2018 @ 08:11 PM
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originally posted by: burdman30ott6

originally posted by: Greven
a reply to: burdman30ott6

I quadrupled my income under Obama, so he did fine by me.


Graduation does that.

If there are jobs in that field. Not so much if there aren't.



posted on Jun, 26 2018 @ 08:12 PM
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Spending is the issue and it is squarely in the lap of our feckless Congress. It matters not Republican or Democrat, until they learn what a balanced budget is and how to pay off debt instead of creating more dent with more spending.



posted on Jun, 26 2018 @ 08:58 PM
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a reply to: toysforadults

All that you say is valid under the assumption of the finality of the ''hidden hand''. Yes, government influence does have effects upon businesses as you point out. And why do governments like the one in the US work in such a manner? Because it is controlled not by you and me as citizens but by the money pouring into it by big business. Government in the US is not under the control of the Dems or the Repubs, the libs or the cons, it is controlled by the big guys in charge of the economy. However there are those of us who have so much faith in that system of economics as it is being played out today.

Placing all the blame on government intervention, valid as it may be, is not addressing the inherent short comings and fallacies of capitalism. To say that OP's questions and laments have '' nothing to do with that '' will not get us to a more viable and productive society.



posted on Jun, 26 2018 @ 09:35 PM
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Trumps tax cuts for the rich doesn't help this

National debt hits $21 trillion



Peter G. Peterson Foundation President Michael Peterson said the milemarker is just the beginning, as Congress has just agreed to spend even more.

Our national debt reached a staggering $21 trillion today, having grown by $1 trillion in just the past six months," he said. "Worse yet, this unfortunate milestone has only just begun to include the effects of the recent fiscally irresponsible tax and spending legislation, which added more debt on top of an already unsustainable trajectory."



posted on Jun, 26 2018 @ 09:59 PM
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a reply to: projectvxn

There is a way Mexico can pay for the wall. Slap a 15% tax on every dollar wired to Mexico from the US and its done in no time.

It is currently impossible to create a budget that will actually work. Its not that much different than for a household. You have to know what you have coming in and what you expect to spend. The problem for the US is we honestly have no idea how many people are actually in this country. Some people say we have 12 million illegal aliens. Some people say we have had a million illegal aliens cross the border ever year for 30 years. And that does not include all the children born here after the crossing takes place. Yes, I know technically those children are citizens (anchor babies) but that is a perversion of the Constitution that was never meant to happen. The highest estimates I have ever heard regarding illegals in this country is fully 1/3 of the current population is either illegal or directly descendant of. Remember, its not just Mexico. And each and every one of those people is a burden to tax payers in many ways.

Then there are all the black ops budgets. Where did the money for Area 51 come from? And who knows how many other similar projects are out there and what outrageous price tags they had.

I could go on and on about all the ways our spending is not predictable compared to our income. But the truth is that the economy as we know it is destined to crash at some point. Right now its one giant ponzi scheme and sooner or later it will fail. When it does we will reset with a new currency and that is when we will find out the real numbers behind all the smoke screens. So it really makes little to no difference in the long run if we let debt escalate to unheard of heights. A crash is a crash and a reset wipes it all out anyway. Its like people going on a spending spree before filing bankruptcy. They may owe somebody something but in the end they still come out ahead.
edit on 26-6-2018 by Vroomfondel because: (no reason given)



posted on Jun, 26 2018 @ 10:03 PM
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posted on Jun, 26 2018 @ 10:15 PM
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Trumps Trickle down economics and a trade war should keep the US in a sound economic position....





Glad I don't have any kids!!



posted on Jun, 26 2018 @ 10:42 PM
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off-topic post removed to prevent thread-drift


 



posted on Jun, 26 2018 @ 11:45 PM
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originally posted by: burdman30ott6

originally posted by: Willtell
This will be Trump’s economy when the results of his tax cut for the rich, his tariffs and trade escapades, and how his deregulation work out in the near future.


Beyond that this so-called great economy is still Obama’s.


So if this is Obama's economy, it's safe to say the $21.1 Trillion in debt is creditable to Obama as well, yes? Or are you cherry pickin'?
The debt Obama signed off on was a direct result of Bush's failed economic policies of deregulating the stock market to allow banks to gamble with our money. When the stock market imploded in 2008 Bush was warned if he didn't bail out the banks by the end of the day trillions would disappear from the US economy. The global economy came to a halt because the banks didn't have the money to lend to businesses. Gas prices leading up to 2008 were killing the economy. Food prices doubled over night. Gas was at $5 a gallon. Peoples disposable income was going into their gas tanks. People that were barely making their mortgages started walking away from them. Home prices dropped and people discovered their home wasn't worth what they had mortgaged. More people walked away from their mortgages. The banks lost their revenue coming in. It's was a snowball event that led to the market crashing. The banks were holding the US economy hostage saying they couldn't lend unless they got bailed out.



posted on Jun, 27 2018 @ 12:19 AM
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a reply to: wantsome

It was a continuation of The Pattern we saw go full tilt with Dubya. And Obama protected the Banksters. Same as Bush. And Obama protected Bush Cheney from war crimes. Then Obama committed His own war crimes. Then used Russia for the all time scapegoat. Then out came the Trump = Russia Narrative. And now Trump is continuing The Pattern.

Any questions?



posted on Jun, 27 2018 @ 12:23 AM
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originally posted by: burdman30ott6

originally posted by: IgnoranceIsntBlisss
a reply to: burdman30ott6

What you call "being able to bail ourselves out"


Enough with the graphs and charts, H. Ross. A third of the debt is intragovernmental debt, money the US owes to itself while another 15% )approx) is "owed" to the US Federal Reserve. With the stroke of a pen, that's 45% of this country's debt which could go bye-bye without a single tax payer feeling anything. There's another third which is foreign held US debt... that debt could quickly go away provided we're willing to flex and preen a bit in the aftermath to ensure nobody gets too uppity over it. There, we just eliminated 85-88% of the federal debt.


And by the time any of that happens comes the wheelbarrows full of paper dollars to buy a loaf of bread. Ironically enough, its an inevitability anyways assuming we continue The Pattern. The one you insist on.

Still waiting for how in any way shape or form it has ever done me or anyone I know a damn bit of good to be destabilizing nations, overthrowing their governments, and or blowing them up, or triggering civil wars, or etc.



posted on Jun, 27 2018 @ 01:33 AM
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a reply to: IgnoranceIsntBlisss

As the world's largest economy and world reserve currency, hyperinflation will only happen if the Federal Reserve is allowed to force it on us. We can bankrupt the world, no other country can come close. It's our game, dude, if we decide to change the rules then the rules will change, period. We simply need a leadership (All 3 branches) ballsy enough to pull that switch.



posted on Jun, 27 2018 @ 01:34 AM
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a reply to: burdman30ott6

What effect do you think that raising of the prime rate will have on the repatriation of international profits? Will it be more advantageous to do so if the dollar is stronger, or weaker?
edit on 6/27/2018 by Phage because: (no reason given)



posted on Jun, 27 2018 @ 01:56 AM
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originally posted by: Willtell
The last Republican administration almost destroyed the western world economy

THAT’S A FACT

Trump is slowly trying his best to do worse than Bush

Obama left a great economy. As much as I don't like Obama I have to admit he brought us back from the brink of HELL Bush left us in, and he stabilized the American economy. THIS IS STILL OBAMA'S ECONOMY not Trumps

And so far Trump, it looks like is trying his best to duplicate Bush's errors


When you say "us" do you have a mouse in your pocket? You are not an American...lol

What great thing did Obama do? He tried to dump 1 trillion dollars into a stimulus package and a vast amount of it just vaporized. Many of his "green" companies that he dumped much more than 10 walls into hardly lasted his 8 years.



posted on Jun, 27 2018 @ 02:01 AM
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a reply to: Xtrozero




He tried to dump 1 trillion dollars into a stimulus package and a vast amount of it just vaporized.

Really?

blogs.wsj.com...



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