Trump's MASSIVE budget deficits

The national debt has increased to the tune of an additional $3,000,000,000,000.00 (3 trillion dollars) since Trump took office. That amounts to upwards of $100,000.00 for every man, woman, and child in the country. I'd like to ask each of you, how has your life been benefited by all of this increased expenditure?

According to Forbes, President Trump was handed an economy that was growing. In 2017, his first year in office, the deficit grew to $666 billion. It was $984 billion last year and is projected to be over $1 trillion in 2020 at $1.02 trillion. If the 2020 projection is accurate, this will be a 74% increase in the budget deficit in just four years... -- www.forbes.com...

The economy under Trump is supposedly better than it was in the 1990s under President Clinton, and yet Clinton was able to not only balance the budget but create a budget surplus, while Trump is running trillion-dollar deficits.

Trump's budget is "The Largest Budget Deficit With A Strong Economy" according to a Forbes headline. "At the projected 4.6% for fiscal 2019 it will be the largest in a non-recession year, and the red line shows it will only be worse..." -- www.forbes.com...

If we are living in "the strongest economy in the history of the world" (according to Trump), then how is Trump running record-high budget deficits during such a great economy? The answer is because of Trump's tax cuts to the rich: "Donald 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...

The GOP had initially argued that lower taxes for the rich would lift the economy enough to make up for the loss in federal revenue. But key Republicans have since walked back the long-standing claim that the 2017 package would pay for itself. -- markets.businessinsider.com... In other words, the Republicans lied to you when they said that tax cuts to billionaires would pay for Trump's deficits. It's merely a variation of Reagan's "Trickle-down economics" lie.

Meanwhile, we hear absolutely no complaints from the Republicans about Trump's budget deficits or the national debt because Trump is a Republican. Republicans only care about budget deficits and the national debt when the president is a Democrat. That's when Republican hacks come out of the woodwork and complain about how deep in debt we are as a nation, and how we can't afford to pay for what Democrats want. But when a Republican is in the White House, Republicans forget about all of the deficit and debt rhetoric and they spend, spend, spend! The only question is, what are the Republicans spending all of that money on? They certainly aren't spending it for the benefit of the American public!

In the fall we'll be able to make things better by installing Joe Biden or Bernie Sanders in the White House.

Meanwhile, we hear absolutely no complaints from the Republicans about Trump's budget deficits or the national debt because Trump is a Republican. Republicans only care about budget deficits and the national debt when the president is a Democrat. 

Yup. The same way the right criticized Obama's use of drones but say nothing now that Trump has increased drone strikes and recently canceled the drone strike casualties report.

Both Republicans and Democrats are full of shiat.

a reply to: kasalt

Meanwhile, we hear absolutely no complaints from the Republicans about Trump's budget deficits or the national debt because Trump is a Republican. Republicans only care about budget deficits and the national debt when the president is a Democrat.

I'm not a Republican or Democrat, but what you said is absolutely true. People really put blinders on when their party is in office (on both sides). In the end, Americans are the ones losing.

originally posted by: carewemust
In the fall we'll be able to make things better by installing Joe Biden or Bernie Sanders in the White House.

Make no mistake about it: No matter who wins in November, the national debt will continue to increase. But at least if Bernie wins, a little more of that money might get spent on people who could actually benefit from it (low and middle income folks), rather than having it get spent on you-don't-know-who for you-don't-know-what.

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.

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.

Trump pushed for a 1.5 trillion dollar tax cut for the rich. In other words, he gave a huge tax cut to himself: "Donald 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...

Rofl he compares Trump to Clinton and trump isn’t a conservative why don’t you look up America first vs establishment conservatism your post is so dishonest and you know it but it is true that anyone has claimed fiscal conservatism would be a hypocrite
a reply to: kasalt

Plus we don’t all agree with everything Trump does there simply isn’t a viable alternative If you are sane anyway you will never get a perfect candidate we will take what we can get
a reply to: sprockets2000

originally posted by: kasalt

originally posted by: carewemust
In the fall we'll be able to make things better by installing Joe Biden or Bernie Sanders in the White House.

Make no mistake about it: No matter who wins in November, the national debt will continue to increase. But at least if Bernie wins, a little more of that money might get spent on people who could actually benefit from it (low and middle income folks), rather than having it get spent on you-don't-know-who for you-don't-know-what.

I've heard a rumor congress controls the budget, hence the impeachment over funds that weren't actually withheld that congress allocated.

Bernie and Joe were there for a very long time. Why didn't Trump, or Obama for that matter, inherit a deficit free country when they started? Congress was too busy moving my money into their families coffers. A balanced budget means more accountability and makes moving 15%(yep, pure speculation) of Federal revenue into friendly pockets much harder.

originally posted by: kasalt

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.

Trump pushed for a 1.5 trillion dollar tax cut for the rich. In other words, he gave a huge tax cut to himself: "Donald 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...

And with that tax cut, revenues actually increased.

So that makes your point invalid.

Can someone remind me how much the national debt rose under Obama's 8 years?

originally posted by: DBCowboy

originally posted by: kasalt

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.

Trump pushed for a 1.5 trillion dollar tax cut for the rich. In other words, he gave a huge tax cut to himself: "Donald 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...

And with that tax cut, revenues actually increased.

So that makes your point invalid.

And with that tax cut, the budget deficit actually increased!

So that makes my point valid.

Since when do presidents make the budget?

originally posted by: IAMTAT
Can someone remind me how much the national debt rose under Obama's 8 years?

From 2.8 to 9 trillion depending on how you look at it.

Trump isn't far off if the rate continues and he is reelected.

Just like drone strikes, the public doesn't seem to care. Bombin people and spending money we don't have. Merica' baby!

Double post

originally posted by: IAMTAT
Can someone remind me how much the national debt rose under Obama's 8 years?

Trump is on track to match Obama's budget deficits.

I happen to think we got robbed under Obama as well. The economy fell into the so-called "Great Recession" towards the end of Dubya's second term, and the proposed solution was a taxpayer bailout of big business and banking institutions because they were supposedly "too big to fail."

Trump's budget deficits are on track to meet Obama's, but we aren't living under the threat of a "Great Recession" right now though, so Trump doesn't have that excuse to ratchet up the deficit. "Trump plans to add $5.088 trillion to the debt in his first term. That's a 25% increase from the $20.245 trillion debt at the end of Obama's last budget for FY 2017. If he remains in office for a second term, he plans to add $9.1 trillion for both terms. Trump had promised to eliminate the debt during his campaign." -- www.thebalance.com...

Barack Obama added $8.588 trillion, a 74% increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009. Trump's Fiscal Year 2021 budget projects the debt would increase $4.8 trillion during his first term. That's as much as Obama added while fighting a recession. Trump has not fulfilled his campaign promise to cut the debt. Instead, he's done the opposite.

a reply to: IAMTAT

Obama added $10 Trillion with a 0% interest rate.

Trump has added 3 Trillion in about half the time with currently a 1.75% interest rate.

For those confused on the interest rate thing, here is some more perspective:

Interest rates have an enormous effect on how much we pay each year on servicing our debt. In the Budget and Economic Outlook from January, CBO estimated that 1 percent higher interest rates each year could increase deficits by $1.3 trillion over ten years.

a reply to: kasalt

when do these debts actually have to be paid back and who then gets the money? is there any country in the world that doesn't have any debts? lichtenstein? luxemburg? could be. would make sense, banks and all. it's a #ed-up world. but if i wanted to get into debt, i would ask trump. he's really good at that. so don't be surprised if there are slot machines instead of traffic lights soon.

Which branch of govt is responsible for the budget?

Which party is in control of that?

Trump has no say in writing the budget.

Do you remember when he refused to sign the budget years ago because it was ridiculous and overspending and added to the deficit? And the govt shut down? And media and the Dems went absolutely ape@#$@ at him for it? You want him to do that again? Because that's the only way govt spending will go down.

Wake up.