Trump's MASSIVE budget deficits

originally posted by: Iscool

originally posted by: DBCowboy
a reply to: kasalt

It's Trump's deficit. He owns it.

No argument here.

But who writes the budget that Trump signs?

It's the House of Representatives.

Under Clinton in was run by republicans.

Under Trump it is run by Pelosi and AOC.

*shrugs*


No member of congress will ever spend less because they are all meat-twinkies.

But what you can do is elect people that will increase it less than the other guy.

It's about all we have.

Until Giant Meteor visits, or the zombie apocalypse.

No, Trump doesn't own it...He was forced to accept it...

Presidents, fairly or not, get credit and blame for what happens on their watch.

As far as I can tell Trump has a remarkably sensible attitude to the deficit which is don't worry about it and focus on more relevant economic indicators.

a reply to: redmage

I'm not going to put more dictionary definitions up for you. I put the definition of inherit in my last response and the example use of it on dictionary.com was literally a direct reflection of how I used it.

I'm going to go ahead and skip anything I see your name on and I encourage you reciprocate. So when you explain to me how reciprocate was used incorrectly I'm not reading it.

originally posted by: ScepticScot

originally posted by: rickymouse
At seventeen trillion when he inherited this deficit, there is about 850 billion interest on the loan a year if five percent interest is paid on that loan. It is hard to make headway on a loan like that. Just to pay the interest, they would have to raise every workers taxes a real lot. Everyone would have to pay around four grand a year in interest alone.

Our country is in deep dodo.

The interest is about 600 billion however it pays about 200 billion of that to itself.

Of the remaining 400 or so the majority of that is paid out within the US.

Still chunky numbers however.

So, four hundred billion paid out by say two hundred million working taxpayers of which a third do not pay much in federal taxes because of their lower income and their deductions. Well, I have not seen anyone complaining that they started paying two grand more in taxes since Trump got into office, in fact his changes helped reduce some people's taxes. I guess that the leaders of our country don't actually care how much debt they have since there is little they can do about it.

originally posted by: Ksihkehe
I'm not going to put more dictionary definitions up for you. I put the definition of inherit in my last response and the example use of it on dictionary.com was literally a direct reflection of how I used it.

Clearly copy/pasting a dictionary.com definition doesn't mean that you actually comprehend what it is you're pasting.

originally posted by: Ksihkehe
I'm going to go ahead and skip anything I see your name on and I encourage you reciprocate. So when you explain to me how reciprocate was used incorrectly I'm not reading it.

You go ahead and do that, bub.

Never let inconvenient facts or reason pop that delicate bubble of blind-faith & belief, and keep on smokin' that good stuff.

originally posted by: redmage

originally posted by: Ksihkehe
I'm not going to put more dictionary definitions up for you. I put the definition of inherit in my last response and the example use of it on dictionary.com was literally a direct reflection of how I used it.

Clearly copy/pasting a dictionary.com definition doesn't mean you actually comprehend what it is you're pasting.

originally posted by: Ksihkehe
I'm going to go ahead and skip anything I see your name on and I encourage you reciprocate. So when you explain to me how reciprocate was used incorrectly I'm not reading it.

You go ahead and do that, bub.

Never let inconvenient facts or reason pop that delicate bubble of blind-faith & belief, and keep on smokin' that good stuff.

Taxes overwhelmingly paid by the same people who benefit from the interest paid on it.

Interest on government bonds is a form of negative wealth redistribution.

originally posted by: kasalt

originally posted by: highvein
a reply to: kasalt

Clinton did nothing to lower the Deficit. That my friend was Reagans trickle down economics coming to fruition.

The Clinton years showed the effects of a large tax increase that Clinton pushed through in his first year, and that Republicans incorrectly claim is the “largest tax increase in history.” It fell almost exclusively on upper-income taxpayers. -- www.factcheck.org...

By contrast, "Trump’s $1.5 trillion tax cuts have helped billionaires pay a lower rate than the working class for the first time in history. In 2018 the richest 400 families in the US paid an average effective tax rate of 23% while the bottom half of American households paid a rate of 24.2%..." -- www.theguardian.com...

How much of that money do you think stayed in the U.S. due to that?

You cannot go over 200 years with 6 trillion dollars of national debt and have Bush Jr. and Obama take your national debt all the way up between the both of them to over 20 trillion dollars in National debt in less than 20 years......We are all screwed when that moment in history happened.....Those bailouts screwed us all over....

originally posted by: Jobeycool
You cannot go over 200 years with 6 trillion dollars of national debt and have Bush Jr. and Obama take your national debt all the way up between the both of them to over 20 trillion dollars in National debt in less than 20 years......We are all screwed when that moment in history happened.....Those bailouts screwed us all over....

OK....Debt vs. Defict are two different species.

Only the interest is owed on the debt...please get facts straight.

e.g. here:

In 2018, U.S. households held over
$113 trillion in assets. For context, that is over five times as much as all the goods and services produced in the U.S. economy in a
single year. If that amount were divided evenly across the U.S.
population of 329 million, it would result in over $343,000 for each person. For a family of three, that’s over a million dollars in assets.

Brookings

Here Advice.

Want a look at US stock market as share of worlds? It is above US$30T+ scares eveyerone.

Us is not going broke soon. Out GDP ratio to debt was higher in the two wars we fought beginning 1941. Get a grip folks.

And those were Europe and Asian wars...thanks for the invite.



mg

Has anyone pointed out that the reason we can't reduce the deficit is because the Democrats are holding defense spending hostage? They insist on any cuts to domestic spending being matched 1:1 by cuts in defense spending, even though domesetic spending to defense spending is more like 4:1 as a ratio of our federal budget. Military spending on makes up about 20% of our federal spending. Most of the other 80% is domestic spending, over $3 trillion every year.

The Democrats won't approve any cuts that don't match their absurd, logicless 1:1 rule, and it takes 60 votes in the Senate to get anything done, so even when Republicans had the House the first 2 years of Trump's presidency, they were beholden to the Democrats' demands.

When was the last time a budget was actually passed? Any takers?

Gee thanks for reposting a bunch of anti trump garbage. Trump has increased what debt, to who, the swamp? Second terms are always banzai, and I'd expect the swamp we owe money to, to write off some loses.

WHO THE # DO WE OWE ALL THIS MONEY TO?

a reply to: matafuchs

I think it was back in 2006 with all appropriations and everything else since has just been band-aids and BS

originally posted by: PurpleFox
WHO THE # DO WE OWE ALL THIS MONEY TO?

This is from a few years ago, but it should give you an idea.

Who owns the US debt

I'd love to know how Japan is lending us money, when they themselves have a gigantic debt.

originally posted by: face23785

originally posted by: PurpleFox
WHO THE # DO WE OWE ALL THIS MONEY TO?

This is from a few years ago, but it should give you an idea.

Who owns the US debt

I'd love to know how Japan is lending us money, when they themselves have a gigantic debt.

Because most debt owed to Japan is owned by companies and individuals not the government.

originally posted by: ScepticScot

originally posted by: face23785

originally posted by: PurpleFox
WHO THE # DO WE OWE ALL THIS MONEY TO?

This is from a few years ago, but it should give you an idea.

Who owns the US debt

I'd love to know how Japan is lending us money, when they themselves have a gigantic debt.

Because most debt owed to Japan is owned by companies and individuals not the government.

Ah, makes sense now. Thanks.

a reply to: kasalt

He doesn't know what he's doing.

All he wants to do is serve the rich and himself. He doesn't care about the country or its ordinary citizens

a reply to: kasalt

To trumps credit, he tried to keep his ship afloat.

After his successful campaign, the stock markets tumbled by more than four percent, now that might not seem much but we are talking about a multi trillion dollar economy. he did get the economy back on track, this virus will hurt but he did not create this coronavirus.

Unless...he colluded with the russians to create something that would stifle china's exports-hey it's ATS, crazy conspiracies are our speciality.

originally posted by: Willtell
a reply to: kasalt

He doesn't know what he's doing.

All he wants to do is serve the rich and himself. He doesn't care about the country or its ordinary citizens

You've been brainwashed by this whole "the tax cuts only helped the rich" narrative.

Even New York Times admitted about 90% of Americans got a tax cut. I don't know any rich people. Just about everyone I know got a tax cut. Just about everyone I know is doing better now than they were 3 years ago.

Get out of your bubble.

originally posted by: Thecakeisalie
a reply to: kasalt

After his successful campaign, the stock markets tumbled by more than four percent, now that might not seem much but we are talking about a multi trillion dollar economy. he did get the economy back on track, this virus will hurt but he did not create this coronavirus.

The market went down after his election because everyone thought Clinton was gonna win, including investors.

Since they were being told Hillary was a lock, they had bought into sectors they thought would do well with a Democrat president. Once it looked like Trump was going to win, they started selling out of those sectors and reinvested in sectors that would do well under a Republican.

If it was a real economic scare, as in investors were really afraid of a Trump presidency and thought the economy would do poorly under him, it would have had a longer-lasting chilling effect. Instead, the market went back up within a few days.