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Budget deficit jumps to $779 billion

pauldun170

Diamond Member
Sep 26, 2011
7,179
2,377
136
Go big or go home.
News that absolutely no one expected but deficits are fine.
Nothing to worry about.
Deficits are a democrat problem,
It's like sandwiches....let the women worry about that sort of thing.

WASHINGTON — The federal budget deficit swelled to $779 billion in fiscal year 2018, the Treasury Department said on Monday, driven in large part by a sharp decline in corporate tax revenues after the Trump tax cuts took effect.

The deficit rose nearly 17 percent year over year, from $666 billion in 2017. It is now on pace to top $1 trillion a year before the next presidential election, according to forecasts from the Trump administration and outside analysts. The deficit for the 2018 fiscal year, which ended Sept. 30, was the largest since 2012, when the economy and federal revenues were still recovering from the depths of the recession.
https://www.nytimes.com/2018/10/15/us/politics/federal-deficit-2018-trump-tax-cuts.html
 

fskimospy

Elite Member
Mar 10, 2006
70,206
19,030
136
Remember how when the US was fighting the biggest economic crisis since the Great Depression conservatives were in hysterics about the budget deficit, so much so that they attempted to cause a global financial crisis to prevent US debt from rising?

They don’t seem very worried now. I wonder what changed?
 
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dawp

Lifer
Jul 2, 2005
10,314
1,529
126
just a matter of time before it all comes crashing down, and it wont be as long as some would expect, likely before 2020.
 
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umbrella39

Lifer
Jun 11, 2004
13,820
1,123
126
This seems like something that should have been a topic for one of our Concern Trolls...

Perhaps if a minority person had something to do with all this they'd care...
 
Jan 25, 2011
15,998
7,380
146
Remember how when the US was fighting the biggest economic crisis since the Great Depression conservatives were in hysterics about the budget deficit, so much so that they attempted to cause a global financial crisis to prevent US debt from rising?

They don’t seem very worried now. I wonder what changed?
I'm guessing what changed is that damned ni....ncompoop is no longer in office.
 

Homerboy

Lifer
Mar 1, 2000
28,935
2,647
126
I'm going to go to my bank and see if they will let me run these types of economics on my account.
 

K1052

Lifer
Aug 21, 2003
35,199
8,526
136
When Republicans ask Dem candidates how they'll pay for universal healthcare the only acceptable response should be laughing in their fucking faces. Everybody should be done pretending the Republicans are fiscally responsible, hasn't worked that way for decades.
 

fskimospy

Elite Member
Mar 10, 2006
70,206
19,030
136
When Republicans ask Dem candidates how they'll pay for universal healthcare the only acceptable response should be laughing in their fucking faces. Everybody should be done pretending the Republicans are fiscally responsible, hasn't worked that way for decades.
I really do hope we are past the time where Republicans pretend to care about deficits and the media pretends to believe them.
 

HomerJS

Lifer
Feb 6, 2002
25,103
9,970
136
just a matter of time before it all comes crashing down, and it wont be as long as some would expect, likely before 2020.
and like the ongoing pattern Democrats will have to deal with shit left them by Republicans.
 
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K1052

Lifer
Aug 21, 2003
35,199
8,526
136
McConnell is telling Bloomberg News that he's worried about he deficit (lol) and inability of Democrats to agree with them in cutting Medicare/Medicaid/Social security to fix it.

That sound you hear is every D running for office anywhere rushing to cut new ads. Seems like he's riding a bit too high from the Kavanaugh confirmation and is overconfident because this is political malpractice.
 

UNCjigga

Lifer
Dec 12, 2000
22,532
4,702
136
I really do hope we are past the time where Republicans pretend to care about deficits and the media pretends to believe them.
It's pretty obvious that the GOP failed to cut taxes enough to trigger all that spending and trickle down...the only obvious answer is further tax cuts, and making the previous cuts permanent in order to convince CEOs and CFOs that they can start that spending spree now!
 
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fskimospy

Elite Member
Mar 10, 2006
70,206
19,030
136
It's pretty obvious that the GOP failed to cut taxes enough to trigger all that spending and trickle down...the only obvious answer is further tax cuts, and making the previous cuts permanent in order to convince CEOs and CFOs that they can start that spending spree now!
We might need to cut taxes again to generate enough revenue to pay for the last tax cut.
 

Linux23

Lifer
Apr 9, 2000
10,915
354
126
It's pretty obvious that the GOP failed to cut taxes enough to trigger all that spending and trickle down...the only obvious answer is further tax cuts, and making the previous cuts permanent in order to convince CEOs and CFOs that they can start that spending spree now!
lets just cut all taxes for the rich so that trickle down can become a full on downpour?
 
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Paul98

Diamond Member
Jan 31, 2010
3,690
133
106
Maybe if the media stops focusing on stupid shit that doesn't really matter and starts to focus on this and other things that actually matter
 

Genx87

Lifer
Apr 8, 2002
41,083
490
126
Maybe if the media stops focusing on stupid shit that doesn't really matter and starts to focus on this and other things that actually matter
Now why would they want to do that? Our private state media isnt setup to challege our govt. They want to partake in the winnings(stealing and subjugation of the populace).
 

Engineer

Elite Member
Oct 9, 1999
39,255
698
126
When Republicans ask Dem candidates how they'll pay for universal healthcare the only acceptable response should be laughing in their fucking faces. Everybody should be done pretending the Republicans are fiscally responsible, hasn't worked that way for decades.
What a BS interview. Said Medicaid/Medicare and SS account for 70+ % of government spending. No mention of the interest on the debt, the military,etc.

Fuck him!
 

Jhhnn

No Lifer
Nov 11, 1999
61,146
13,088
136
McConnell is telling Bloomberg News that he's worried about he deficit (lol) and inability of Democrats to agree with them in cutting Medicare/Medicaid/Social security to fix it.

That sound you hear is every D running for office anywhere rushing to cut new ads. Seems like he's riding a bit too high from the Kavanaugh confirmation and is overconfident because this is political malpractice.
Too bad McConnell can't be forced to live on the average SS benefit of $1342/month.
 

Vic

Elite Member
Jun 12, 2001
47,677
7,765
126
Here's what I want to know. We are told that Trump is "draining the swamp" by cutting spending at several different federal agencies. And yet, federal spending and the deficit continue to skyrocket. How does this work?
 
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sactoking

Diamond Member
Sep 24, 2007
6,664
1,356
136
Less useless staff to protect consumers means more money available for necessary drapes, tables and soundproof booths.
 

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