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Deficits Don't Matter... again
AZDuck
Member Posts: 15,381
in Tug Tavern
https://www.businessinsider.com/us-government-to-spend-more-on-debt-than-on-military-within-a-decade-2018-9
Next year, the deficit is expected to reach nearly $1 trillion, the first time it has been that large since 2012, when the US was still recovering from the financial crisis and rates were near zero.
In February, a bill was approved to raise federal spending by $300 billion over 3 years, which will further increase the financial burden. The Congressional Budget Office said that interest payments on the national debt are expected to triple over the next decade.
And Washington Republicans introduced legislation this month that would make the tax cuts permanent.
"The issue has just disappeared," Senator Mark Warner, a Virginia Democrat, told the Times. "There's collective amnesia."
In February, a bill was approved to raise federal spending by $300 billion over 3 years, which will further increase the financial burden. The Congressional Budget Office said that interest payments on the national debt are expected to triple over the next decade.
And Washington Republicans introduced legislation this month that would make the tax cuts permanent.
"The issue has just disappeared," Senator Mark Warner, a Virginia Democrat, told the Times. "There's collective amnesia."
Comments
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Not today
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We're making America great again by drowning future generations in debt.RaceBannon said:Not today
High five? -
I'm too upset about how Dr Ford is being treated
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I just thank the lord that she is a survivor who has been able to overcome her claustrophobia and fear of flying so quickly.RaceBannon said:I'm too upset about how Dr Ford is being treated
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To be fair she only flies several times a year.
Also like how it was beach buddies advising her -
When will you losers get it
Making libs cry is the only thing that matters -
Yes, her fear of flying isn't that bad when she is going on vacation.RaceBannon said:To be fair she only flies several times a year.
Also like how it was beach buddies advising her -
On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion -
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion -
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion -
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now? -
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now? -
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now? -
It's always a good idea to cut tax receipts and increase spending during times of economic expansion. This is common knowledge.
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No shock you didn't respond about your hypocrisy.SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
No politician will cut spending. At least Democrats are up front about it. The people you vote for blatantly lie about it and say they will cut spending. Then they just spend spend spend. Just like Democrats do. -
I wouldn't. We don't have a deficit because we tax too little. We spend too fucking much.AZDuck said:
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now? -
TierbsHsotBoobs said:
We're making America great again by drowning future generations in debt.RaceBannon said:Not today
High five?
FYI the rest of the world will still pay us to take loans out at rates that are below inflation. It's quite literally because we want to prevent higher inflation that we are raising interest rates.
If you don't understand why you should take out ANY loan that has an interest rate lower than inflation you probably shouldn't be worrying about the national debt.
https://nytimes.com/2018/09/26/us/politics/federal-reserve-raises-interest-rates.html
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A quick glance at other nation's fiscal decisions appears to contradict your logic. For that matter, this nation's fiscal decisions from 2010-2016 kinda fits the same pattern.SFGbob said:
I wouldn't. We don't have a deficit because we tax too little. We spend too fucking much.AZDuck said:
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
https://data.oecd.org/gga/general-government-deficit.htm#indicator-chart
but, sure -
It isn’t conservatives that have created a culture of economic ignorance and hypocrisy. The entire dem agenda is to spend more money – a lot of money. They would start with the government takeover of all healthcare and add a few more tens of trillions to the deficit. Our public school system K-12 and our colleges and universities promote economic illiteracy and are proud of it. Teaching socialism is akin to teaching a flat earth. Big surprise that the low information voter and “independents” are attracted to the promise of free sh*t and vote for it. Then you have supposed Republicans supporting crony capitalism like the ethanol scam and the hundreds of billions of wasted tax dollars on federal intervention into the state and local public education process. Did we get an educated public out of that money? Nope we got barry and Bernie and Alexandria Ocasio-Cortez. The US Congress is the result of who the people vote for. If we want spending controlled, then we need to elect a congress that wants to control spending. That isn’t what the people want and certainly not any democrat.
So, I support a spending freeze. You leftards who are now whining about a deficit that you don’t really give a sh*t about don’t because your education failed you and you are proudly ignorant.
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"Deficits don't matter" Dick Cheney, 2004"[The deficit is] a great talking point when you have an administration that’s Democrat-led,” said Representative Mark Walker, Republican of North Carolina and the chairman of the Republican Study Committee, a group of about 150 conservative House members. “It’s a little different now that Republicans have both houses and the administration.”
This is a straightforward test for “deficit hawks”: do they care about this issue no matter who’s in the White House? Are they as quick to denounce borrowing when it’s tax cuts for the wealthy on the line as they are when Democrats are pushing domestic investments?
For much of the congressional GOP, the answer to both questions is no. For the party en masse, there’s no consistency, no guiding principles, and no real effort to explain why their interest shifts with the winds.What the numbers show is that the total debt increased the most at 184% over 8 years and at the fastest rate under President Reagan at almost 14% per year. In fact, the three Republican presidents had the fastest growing debt on a yearly basis.
Reagan
Started Presidency: $965 billion
Ended Presidency: $2.74 trillion
Increased 184% or 13.9% per year
H.W. Bush
Started Presidency: $2.74 trillion
Ended Presidency: $4.23 trillion
Increased 54% or 11.5% per year (only in office for four years)
Clinton
Started Presidency: $4.23 trillion
Ended Presidency: $5.77 trillion
Increased 36% or 4.0% per year
W. Bush
Started Presidency: $5.77 trillion
Ended Presidency: $11.1 trillion
Increased 93% or 8.5% per year
Obama
Started Presidency: $11.1 trillion
Ended Presidency: $19.85 trillion
Increased 78% or 7.5% per year
President Obama’s debt actually grew at a slower annual rate than any of the Republican presidents even though there were events that negatively impacted the deficit that started before he became President. The Great Recession is probably the biggest of them as can be seen in the yearly deficit numbers. While all politicians use data to support their positions, the sound bite that the debt doubled under Obama is very misleading.
https://www.forbes.com/sites/chuckjones/2018/01/15/obamas-federal-debt-grew-at-a-slower-rate-than-reagan-h-w-bush-or-w-bush/
But you know, libtards, demonrats. Boo! -
I hope the Dems win in 2020 so the GOP will get TUFF on deficits again.
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AZDuck said:
A quick glance at other nation's fiscal decisions appears to contradict your logic. For that matter, this nation's fiscal decisions from 2010-2016 kinda fits the same pattern.SFGbob said:
I wouldn't. We don't have a deficit because we tax too little. We spend too fucking much.AZDuck said:
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
https://data.oecd.org/gga/general-government-deficit.htm#indicator-chart
but, sure
How does that chart refute that we spend too much? If you simply reduced Federal spending to 2012 levels, hardly a year of fiscal austerity, you'd almost entirely eliminate the current budget deficit.AZDuck said:
A quick glance at other nation's fiscal decisions appears to contradict your logic. For that matter, this nation's fiscal decisions from 2010-2016 kinda fits the same pattern.SFGbob said:
I wouldn't. We don't have a deficit because we tax too little. We spend too fucking much.AZDuck said:
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
https://data.oecd.org/gga/general-government-deficit.htm#indicator-chart
but, sure
We spend too fucking much and showing me the spending rates of other countries doesn't negate that fact. The Federal Government is too damn big and is now spending money on programs and polices that it was never intended to be involved in. -
SFGbob said:AZDuck said:
A quick glance at other nation's fiscal decisions appears to contradict your logic. For that matter, this nation's fiscal decisions from 2010-2016 kinda fits the same pattern.SFGbob said:
I wouldn't. We don't have a deficit because we tax too little. We spend too fucking much.AZDuck said:
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
https://data.oecd.org/gga/general-government-deficit.htm#indicator-chart
but, sure
How does that chart refute that we spend too much? If you simply reduced Federal spending to 2012 levels, hardly a year of fiscal austerity, you'd almost entirely eliminate the current budget deficit.AZDuck said:
A quick glance at other nation's fiscal decisions appears to contradict your logic. For that matter, this nation's fiscal decisions from 2010-2016 kinda fits the same pattern.SFGbob said:
I wouldn't. We don't have a deficit because we tax too little. We spend too fucking much.AZDuck said:
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
https://data.oecd.org/gga/general-government-deficit.htm#indicator-chart
but, sure
It's like you've never heard of price inflation and interest.
We spend too fucking much and showing me the spending rates of other countries doesn't negate that fact. The Federal Government is too damn big and is now spending money on programs and polices that it was never intended to be involved in.
Like what and sez who? -
Ok. Where would you cut to get us to 2012. Let's hear this.SFGbob said:AZDuck said:
A quick glance at other nation's fiscal decisions appears to contradict your logic. For that matter, this nation's fiscal decisions from 2010-2016 kinda fits the same pattern.SFGbob said:
I wouldn't. We don't have a deficit because we tax too little. We spend too fucking much.AZDuck said:
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
https://data.oecd.org/gga/general-government-deficit.htm#indicator-chart
but, sure
How does that chart refute that we spend too much? If you simply reduced Federal spending to 2012 levels, hardly a year of fiscal austerity, you'd almost entirely eliminate the current budget deficit.AZDuck said:
A quick glance at other nation's fiscal decisions appears to contradict your logic. For that matter, this nation's fiscal decisions from 2010-2016 kinda fits the same pattern.SFGbob said:
I wouldn't. We don't have a deficit because we tax too little. We spend too fucking much.AZDuck said:
Where would you increase taxes?SFGbob said:
So you can't tell us where you'd cut spending. I'm shocked.2001400ex said:
I complained about spending under Obama. But the larger issue was the revenue drop from 2009 through 2012 that caused the huge deficits. That with tarp ($600 billion) and the stimulus ($800 billion).SFGbob said:
I agree, lets cut spending. Where do you want to cut? Btw, how much did you complain about deficit spending when Obama was in office?2001400ex said:
Except there's identifiable actions by Trump and Congress to increase expenditures and reduce revenues.RaceBannon said:On the economy Obama was quite clear that this is his and Trump didn’t do it
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
https://data.oecd.org/gga/general-government-deficit.htm#indicator-chart
but, sure
We spend too fucking much and showing me the spending rates of other countries doesn't negate that fact. The Federal Government is too damn big and is now spending money on programs and polices that it was never intended to be involved in. -
I'm really really enjoying the Democrats desperation and just incompetence in generalYellowSnow said:I hope the Dems win in 2020 so the GOP will get TUFF on deficits again.
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I'd completely eliminate the welfare state. I get rid of the departments of Education, Commerce and Labor. I'd drastically reduce the EPA and then I'd break for lunch.
Paying for the certainties of life, that you will get old, that you will get sick and that you will die, was never the reason why we constituted a Federal Government. We've been through this before Hondo, who you like me to predict your Kunt act response? -
Perfect. Dumb down the populace to create Republican voters for generations. We need more people like Trump in office. And I love Rivers catching on fire. Such a beautiful thing in the night sky. What could go wrong there. Then we could be India and 20 years later blame our shithole on socialism.SFGbob said:I'd completely eliminate the welfare state. I get rid of the departments of Education, Commerce and Labor. I'd drastically reduce the EPA and then I'd break for lunch.
Paying for the certainties of life, that you will get old, that you will get sick and that you will die, was never the reason why we constituted a Federal Government. We've been through this before Hondo, who you like me to predict your Kunt act response? -
"The Congress shall have power;""To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common defence[note 1] and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States."
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It's almost like these departments and programs were created for a reason. Seriously one of the dumbest posts I've seen.SFGbob said:I'd completely eliminate the welfare state. I get rid of the departments of Education, Commerce and Labor. I'd drastically reduce the EPA and then I'd break for lunch.
Paying for the certainties of life, that you will get old, that you will get sick and that you will die, was never the reason why we constituted a Federal Government. We've been through this before Hondo, who you like me to predict your Kunt act response? -
Hondo, just because you can't wipe your own ass without a government instruction manual doesn't mean that without a Federal Department of Education everyone else wouldn't be able to get an education.2001400ex said:
Perfect. Dumb down the populace to create Republican voters for generations. We need more people like Trump in office. And I love Rivers catching on fire. Such a beautiful thing in the night sky. What could go wrong there. Then we could be India and 20 years later blame our shithole on socialism.SFGbob said:I'd completely eliminate the welfare state. I get rid of the departments of Education, Commerce and Labor. I'd drastically reduce the EPA and then I'd break for lunch.
Paying for the certainties of life, that you will get old, that you will get sick and that you will die, was never the reason why we constituted a Federal Government. We've been through this before Hondo, who you like me to predict your Kunt act response?
