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Thread: Trump's budget: Oceans of red ink

  1. #21
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    Quote Originally Posted by HayJenn View Post
    My site is garbage?

    Oh the irony of that statement.
    It is. The only correct number was the increase in debt in 2016.

    You don't trust the numbers posted by the US Treasury on their site? You put

    Barack Obama -- Under President Obama, the national debt grew the most dollar-wise. He added $7.917 trillionBarack Obama in seven years.
    George W. Bush -- President Bush added $5.849 trillion, the second-greatest amount.
    Barack Obama:

    FY 2016 - $1.423 trillion.

  2. #22
    Moderator HayJenn's Avatar
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    Quote Originally Posted by Libertine View Post
    It is. The only correct number was the increase in debt in 2016.

    You don't trust the numbers posted by the US Treasury on their site? You put
    Well a) you obviously are not factoring in the debt that Obama inherited from Bush

    And b) Yet not one word on how this administrations policy decisions are going to make the debt much worse. Just the Tax Bill alone


    The federal debt held by the public will grow to nearly the size of the U.S. economy within 10 years under the GOP tax cut legislation, Congress's official budget experts projected Tuesday.

    The Congressional Budget Office estimated that the federal debt will increase from about 75 percent of gross domestic product today to 97.5 percent in 2027, thanks to the tax cut signed last month by President Trump. Before the tax bill became law, the office only saw the debt rising to 91 percent of GDP.

    The group figures that the $1.5 trillion tax cut will also mean more than $300 billion in higher interest payments on the federal debt. So altogether, the bill will add $1.8 trillion to the debt over the next decade.

    CBO: With GOP tax cuts, federal debt will nearly equal size of the US economy

  3. #23
    Shiny Purple Member namvet69's Avatar
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    Quote Originally Posted by HayJenn View Post
    Well a) you obviously are not factoring in the debt that Obama inherited from Bush

    And b) Yet not one word on how this administrations policy decisions are going to make the debt much worse. Just the Tax Bill alone


    The federal debt held by the public will grow to nearly the size of the U.S. economy within 10 years under the GOP tax cut legislation, Congress's official budget experts projected Tuesday.

    The Congressional Budget Office estimated that the federal debt will increase from about 75 percent of gross domestic product today to 97.5 percent in 2027, thanks to the tax cut signed last month by President Trump. Before the tax bill became law, the office only saw the debt rising to 91 percent of GDP.

    The group figures that the $1.5 trillion tax cut will also mean more than $300 billion in higher interest payments on the federal debt. So altogether, the bill will add $1.8 trillion to the debt over the next decade.

    CBO: With GOP tax cuts, federal debt will nearly equal size of the US economy
    With current proposals and the tax gift to himself, Trump is spending at a rate that would increase the deficit by 24 trillion if compared to the 8 years under Obama. And that's after inheriting a sound economy unlike what Obama faced from the last GOP President.
    Thanks from OldGaffer and HayJenn

  4. #24
    Member Slartibartfast's Avatar
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    This site predicts national debt to increase from 2016 to 2020 by $3 trillion.

    It predicts from 2020 to 2024 a further increase of $3.8 trillion.

    So if Trump doesn't win a 2nd term, the prediction is that the next president will add a greater debt.

    https://www.statista.com/statistics/...united-states/

  5. #25
    Veteran Member Dragonfly5's Avatar
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    Quote Originally Posted by Slartibartfast View Post
    By law, by the end of a presidents or prime ministers office, he or she should not be allowed to finish on a deficit. Governments, like us, should live within their means.
    This isn't your government. Why do you give a shit?
    Thanks from OldGaffer

  6. #26
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    Always funny to see Trump Haters whine, when Obama added $9.3 Trillion to the national debt in only 8 years.

    For the "math challenged" that more than a Trillion on average per year.

    But now they cry and moan about Trump adding to the debt.

    Neither party gives a damn about the debt.

  7. #27
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    Quote Originally Posted by Miller47 View Post
    Always funny to see Trump Haters whine, when Obama added $9.3 Trillion to the national debt in only 8 years.

    For the "math challenged" that more than a Trillion on average per year.

    But now they cry and moan about Trump adding to the debt.

    Neither party gives a damn about the debt.
    And again, he inherited a lot of that debt

    But you know, don't let facts get in the way.

    And it's everything rolled into together. The tax bill, the vote they just took to keep the govt. running and now this budget proposal

    Combined it's going to explode and not only will entitlements be cut (which he promised not to do), we are going to stick the younger generation with all the problems.

    Not very well thought out...at all.

    It's going to come back to bite EVERYONE in the behind.

    Except of course for the Corps, who are already swimming in money.

  8. #28
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    Quote Originally Posted by HayJenn View Post
    And again, he inherited a lot of that debt

    But you know, don't let facts get in the way.

    And it's everything rolled into together. The tax bill, the vote they just took to keep the govt. running and now this budget proposal

    Combined it's going to explode and not only will entitlements be cut (which he promised not to do), we are going to stick the younger generation with all the problems.

    Not very well thought out...at all.

    It's going to come back to bite EVERYONE in the behind.

    Except of course for the Corps, who are already swimming in money.
    He inherited a lousy economy.

    How did he inherit "a lot of that debt"?

    The deficit is calculated each year.

    Obama is the king of debt.

    No one else is even close.

    Yet.

  9. #29
    Shiny Purple Member namvet69's Avatar
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    Quote Originally Posted by Slartibartfast View Post
    This site predicts national debt to increase from 2016 to 2020 by $3 trillion.

    It predicts from 2020 to 2024 a further increase of $3.8 trillion.

    So if Trump doesn't win a 2nd term, the prediction is that the next president will add a greater debt.

    https://www.statista.com/statistics/...united-states/
    Hell, Trump has already spent 3 Trillion if this infrastructure plan gets traction. And, since there seems no checks on his every whim, it'll only get worst. But, fear not, he has the entire middle class to chip in to pay for it. Shit, Elderly, infirm, poor, and veterans don't need all their money anyway. No food stamps? Let them eat cake. No health insurance? Let them go to the ER and see a different doctor every time they do who knows nothing about their history. That continuity of care thing is a myth anyway.

  10. #30
    Moderator HayJenn's Avatar
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    Quote Originally Posted by Miller47 View Post
    He inherited a lousy economy.

    How did he inherit "a lot of that debt"?

    The deficit is calculated each year.

    Obama is the king of debt.

    No one else is even close.

    Yet.
    Of course you have to include the debt he inherited.

    And again, for like the 4th time, Obama put GWB tax cut and Medicare Part D in his budget - where GWB did not

    And George W. Bush initiated two major wars in Iraq and Afghanistan, but adamantly refused to pay for either of them by cutting non-military spending or raising taxes.

    Combine all those together you get trillions of dollars he inherited.

    Funny to how nobody wants to talk about how Obama greatly reduced the deficit either.

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