Trump's MASSIVE budget deficits

Federal revenues has increased with the tax cut schedule !!! 😎

originally posted by: xuenchen
Federal revenues has increased with the tax cut schedule !!! 😎

It isn't about increased revenue, I pointed that out a while back.

It's about taxing success.

originally posted by: DBCowboy
a reply to: kasalt

It's a bias that you ignore the benefits that have come from the tax cuts.

Benefits that have enabled people from every economic class to improve.

Again, nice try.

Go ahead and get a job and collect a pay check from a poor person.

I guess you're right. The benefit of Trump's 1.5 trillion-dollar tax cut to billionaires (himself and his friends) is 1.5 trillion dollars in increased national debt.

And I'll get a job and collect a pay check from a poor person while you tax him!

originally posted by: xuenchen
Federal revenues has increased with the tax cut schedule !!! 😎

The federal deficit has increased with the tax cut schedule !!!

originally posted by: kasalt

originally posted by: DBCowboy
a reply to: kasalt

It's a bias that you ignore the benefits that have come from the tax cuts.

Benefits that have enabled people from every economic class to improve.

Again, nice try.

Go ahead and get a job and collect a pay check from a poor person.

I guess you're right. The benefit of Trump's 1.5 trillion-dollar tax cut to billionaires (himself and his friends) is 1.5 trillion dollars in increased national debt.

And I'll get a job and collect a pay check from a poor person while you tax him!

Wrong.

the national debt is due to over spending and poor budget management from congress.

You're a Bernie bro, aren't you!

Just whom do we owe the deficit too?... And if we default what happens? I know the answer...do you?..a reply to: kasalt

originally posted by: kasalt

originally posted by: xuenchen
Federal revenues has increased with the tax cut schedule !!! 😎

The federal deficit has increased with the tax cut schedule !!!

The Federal Deficit has always increased with tax increases too !!! 😎

a reply to: xuenchen

At least since the 90s, but there was a 4 year stretch in there where we actually had an annual surplus.

By the nature of our debt based fractional reserve monetary system, exponentially more debt must be created, otherwise the whole financial system will collapse. These numbers will be even higher with an oath breaking life/liberty/work hating Democrat in charge. With the Green New Deal, Medicare for all, free college education/student loan forgiveness & open borders, our national debt will increase to at least 200 trillion.

a reply to: redmage

Part of our problem is that regardless of which policies are in place, we don't generally give them a long enough chance to take full effect. If the economy continues to grow, then revenues can grow with tax cuts, and Debt:GDP ratio decreases. If the economy slams on the brakes and recesses, then revenues will fall, even in the presence of rate increases, and Debt:GDP increases.

If we could even just hold overall spending the same, while growing continuously long enough, we coukd eliminate the deficit again, but we always seem ways to spend more.

a reply to: JBIZZ

I'm not sure this thread could handle the fiat based fractional reserve monetary system discussion/debate when basic concepts like the national debt and annual deficit are already getting so butchered.

originally posted by: redmage
a reply to: xuenchen

At least since the 90s, but there was a 4 year stretch in there where we actually had an annual surplus.

but but but..


No, Bill Clinton Didn’t Balance the Budget

originally posted by: redmage

originally posted by: timequake
What I'm "doing" is trying to explain that the debt--the accumulation of decades of deficits--is not "Trumps" fault

Which is a straw man argument because I never claimed that "the debt" was Trump's fault.

What I said is that he promised to eliminate the national debt, and that such a claim is right up there with "Mexico paying for the wall"... it ain't happening.

Starting today, he would have to take us from a 1 trillion annual deficit to a 4.5 trillion annual surplus. That's a 5.5 trillion swing, and then he would somehow need to maintain that 4.5 trillion annual surplus for the next 5 years to even get close to eliminating the national debt.... not happening.

But keep trying. You'll get it one day if you stop with the straw man arguments and address what's actually been posted instead.

Pay attention: note how you always end up saying what "Trump" did... Now. Be honest with yourself. You have TDS. I get it. But understand. Look closely at what I have written. Trump does not control the budget. He is not all powerful. He does not control the budget. Repeat it until it finally sticks. Its been on on-going issue. Long before this one guy became the current President. Do you understand now? If not. re-read this post until you do. Good luck.

originally posted by: timequake

Pay attention: note how you always end up saying what "Trump" did...... Its been on on-going issue. Long before this one guy became the current President.

He certainly won't be the last president to run on a tag line of a "strong economy" while entombing us in debt either.

It's funny how all these folks that support Trump railed against Obama and the deficits he ran for 8 years, but now that Trump, a republican, is in office deficits don't matter.

a reply to: dogstar23

I think relying on continuous uninterrupted growth at this point is a dangerous game. We're too close to growth not covering the interest payments, and that's a tipping point we don't want to experience. Someone's gotta cut into the debt itself for a bit before something like "supply chains breaking down on account of covid19" hits that tipping point for us.

originally posted by: redmage

originally posted by: Ksihkehe
Are any of these very accurate and 100% true historical facts ringing a bell?

Nope, I've got no idea what you're smoking.

Whooooooooosh.

Did you see that unidentified flying object go completely over your head?

originally posted by: timequake
Pay attention: note how you always end up saying what "Trump" did.

There's a huge difference between "blaming the national debt on Trump" (your absurd claim), and pragmatically acknowledging that his campaign promise to "eliminate the national debt" ain't gonna happen in the next 5 years.

Anyone being honest with themselves should be able to accept that fact without screeching "TDS", or resorting to straw man fallacies because they don't understand the difference between the national debt and the annual deficit.

a reply to: rickymouse

Or we could just tell the Federal Reserve to F off, since we're paying interest to that quasi-public/private bank for the honor of spending our own money.

Trump would never see the election in November if he did that though.

originally posted by: gpols

originally posted by: timequake

Pay attention: note how you always end up saying what "Trump" did...... Its been on on-going issue. Long before this one guy became the current President.

He certainly won't be the last president to run on a tag line of a "strong economy" while entombing us in debt either.

It's funny how all these folks that support Trump railed against Obama and the deficits he ran for 8 years, but now that Trump, a republican, is in office deficits don't matter.

It was Bush.. then Obama... now Trump.. it was all of them, but none of them.

originally posted by: redmage

originally posted by: timequake
Pay attention: note how you always end up saying what "Trump" did.

There's a huge difference between "blaming the national debt on Trump" (your absurd claim), and pragmatically acknowledging that his campaign promise to "eliminate the national debt" ain't gonna happen in the next 5 years.

Anyone being honest with themselves should be able to accept that fact without screeching "TDS", or resorting to straw man fallacies because they don't understand the difference between the national debt and the annual deficit.

Please refer to my previous comment. Please read it out loud and repeat it until you understand it.