Well who knew....U.S. budget deficit to balloon on Republican tax cuts: CBO

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Meghan54

Meghan54

Lifer
Oct 18, 2009
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And I wonder why the Repubs. just couldn't wait for the CBO to score the tax cut bill before they pushed it through? Who could ever know this would happen.....?

WASHINGTON (Reuters) - The U.S. budget deficit will balloon over the next few years mainly because of deep tax cuts approved in December by Republicans in the U.S. Congress and President Donald Trump, the nonpartisan Congressional Budget Office said on Monday.

Despite stronger-than-predicted economic growth ahead, the CBO said the deficit will grow to $804 billion in fiscal 2018, which ends on Sept. 30, up from $665 billion in fiscal 2017.
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https://www.reuters.com/article/us-...loon-on-republican-tax-cuts-cbo-idUSKBN1HG2RW
 
UNCjigga

UNCjigga

Lifer
Dec 12, 2000
25,424
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Oh please, you know Trump is going to blame this on the omnibus bill (which he hates) and not his precious tax cuts. Apparently, the WH is working with Republican lawmakers on rescissions to the omnibus bill--this will just give them more fuel for their dumpster fire!
 
JTsyo

JTsyo

Lifer
Nov 18, 2007
12,024
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I wonder if Trump will own as much of the national debt as Bush did with his tax cut.
20120229_EssentialEcon9.jpg
 
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nickqt

nickqt

Diamond Member
Jan 15, 2015
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Deficits/the debt isn't nearly as scary as people make it out to be...it's just that tax cuts are a garbage way to stimulate the economy.

Dumping 2T into the economy by allowing real-life actual people to touch it first, before it is sent it up the eventual ladder to banks/corporations stimulates the shit out of the economy.

Dumping 2T into the bank accounts of already rich oligarchs and the corporations they control does pretty much jack shit.
 
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child of wonder

child of wonder

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Aug 31, 2006
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K1052 said:
Republican fiscal conservatism at work.
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This.

We need a real fiscal conservative in office who is not beholden to traditional Republican or Democrat pet projects. We need cuts everywhere it makes sense to do so otherwise we'll never crawl out of this mountain of credit card debt.
 
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nickqt

nickqt

Diamond Member
Jan 15, 2015
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child of wonder said:
This.

We need a real fiscal conservative in office who is not beholden to traditional Republican or Democrat pet projects. We need cuts everywhere it makes sense to do so otherwise we'll never crawl out of this mountain of credit card debt.
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Credit card debt? You think the Federal government has credit card debt?
 
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J

Jhhnn

IN MEMORIAM
Nov 11, 1999
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ivwshane said:
"both sides",

The political philosophy of idiots.
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The big money backers of the GOP have perfected the art of looting the treasury. Have Uncle Sam borrow money from them to give it back to them as taxcuts. Oh, and they'll keep the US Treasuries, as well, the safest investment on the planet.

Y'all keep waitin' for that trickle down action, chumps.
 
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ElFenix

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
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child of wonder said:
This.

We need a real fiscal conservative in office who is not beholden to traditional Republican or Democrat pet projects. We need cuts everywhere it makes sense to do so otherwise we'll never crawl out of this mountain of credit card debt.
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you can shit in one hand and wish for fiscal conservatives in the other
 
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Thunder 57

Thunder 57

Diamond Member
Aug 19, 2007
3,871
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child of wonder said:
This.

We need a real fiscal conservative in office who is not beholden to traditional Republican or Democrat pet projects. We need cuts everywhere it makes sense to do so otherwise we'll never crawl out of this mountain of credit card debt.
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It's political suicide to do so these days though. What if we had let the banks fail? What if we let the F-35 project fail? All we do is pour money into these "to big to fail" things. The F-35 is such a boondoggle.
 
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J

Jhhnn

IN MEMORIAM
Nov 11, 1999
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J

Jhhnn

IN MEMORIAM
Nov 11, 1999
62,365
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glenn1 said:
Yeah, the same kind of idiots that call 99 weeks of unemployment spending an "investment."
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It was an investment in the general welfare of the American People. That's in opposition to your usual FYGM, of course.
 
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Thunder 57

Thunder 57

Diamond Member
Aug 19, 2007
3,871
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Jhhnn said:
Oh please. GWB accomplished the deed cutting taxes & starting two wars at the same time. Obama did it because we faced the gravest financial crisis since 1929. Trump & the GOP are doing it to satisfy greed at the top.
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I think the tax cuts would've been fine if the whole Middle East nonsense never happened. Should never have happened to begin with. But a lot of GWB's money was spent on the worst economic crisis since the great depression, too. Obama just continued it it. Everybody loves cuts until it's a cut that effects them.
 
jackstar7

jackstar7

Lifer
Jun 26, 2009
11,679
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glenn1 said:
Yeah, the same kind of idiots that call 99 weeks of unemployment spending an "investment."
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You incredibly failed to address his point, since you are the both-sides-er in this scenario, and then malign sustaining unemployment benefits during a massive economic downturn, which we pulled out of in part due to moves like extending those benefits.

You're playing 4D chess with your self-owns.
 
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