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Thread: Trump's budget: Oceans of red ink

  1. #31
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    Quote Originally Posted by namvet69 View Post
    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.
    I thought an infrastructure plan was a GOOD thing.

    Not when Trump does it?

  2. #32
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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
    I'm in favor of reducing spending, not increasing federal spending.

    That said, everything that you have cited says that the increase in the national debt forecasted for Trump is less than the increase in the national debt we saw under Obama.

  3. #33
    Veteran Member Dragonfly5's Avatar
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    Quote Originally Posted by HayJenn View Post
    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.
    Miller will not admit this, he is way too dishonest.

  4. #34
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    Quote Originally Posted by Miller47 View Post
    I thought an infrastructure plan was a GOOD thing.

    Not when Trump does it?
    Can't afford it now.

    Maybe he should of done that instead of the tax breaks.


    And this

    The White House on Monday offered a $4.4 trillion budget plan that brought into sharp focus the fiscal strains created by the Trump administration and Congress in the past year, revealing how large tax cuts and a new spending agreement are driving up government debt.
    President Trump’s budget plan included proposals to slash spending on social safety net programs such as Medicare, Medicaid and food stamps, but these changes would still fall far short of balancing the budget and eliminating the deficit, a long-held GOP goal.

    The White House projected the deficit would swell to near $1 trillion annually in 2019 and 2020 because of the new tax law and last week’s agreement to add $500 billion in new spending.

    The worsening fiscal picture has put enormous pressure on Congress to try to reconcile Trump’s call for even more spending on infrastructure and border security with long-held promises of wiping out the deficit over 10 years. As the growing deficit pushes debt levels beyond $20 trillion, rising interest rates are making it more expensive for the Treasury Department to borrow money.


    But the White House and Congress have shown little willingness to cut back on spending, finding it easier to cut taxes and increase spending during Trump’s presidency.

    https://www.washingtonpost.com/busin...=.e7a9d0550794

  5. #35
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    Quote Originally Posted by Dragonfly5 View Post
    Miller will not admit this, he is way too dishonest.
    Here's a news flash for you Dragonfly5:

    Obama added NEARLY as much to the national debt as all other presidents before him...COMBINED.

    Take THAT for data!

  6. #36
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    Quote Originally Posted by Libertine View Post
    I'm in favor of reducing spending, not increasing federal spending.

    That said, everything that you have cited says that the increase in the national debt forecasted for Trump is less than the increase in the national debt we saw under Obama.
    LOL sure - keep ignoring how much debt he inherited

    Or how much the the 3 gop programs are going to blow up the debt far beyond what any other POTUS has done.

  7. #37
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    Quote Originally Posted by Miller47 View Post
    Here's a news flash for you Dragonfly5:

    Obama added NEARLY as much to the national debt as all other presidents before him...COMBINED.

    Take THAT for data!
    Quit lying. That lame talking point has been debunked over and over.

  8. #38
    Veteran Member beatleboy's Avatar
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    Quote Originally Posted by Libertine View Post
    In his last year in office added $1.4 trillion to the national debt, $1.4 trillion in 2016 alone.
    The economy completely collapsed, how do think that was to be corrected, let the auto industry fail, let the banks go under, what the hell good would that have done? Millions out of jobs, no income, living on borrowed time with unemployment, snap, etc., all needs to be paid for, did you hem and haw when Bush put us in so much debt with his medicare D, his tax cuts for the rich, his two wars, not paying ONE DIME for any of it, put it all on the American credit card. I see a selective memory.

  9. #39
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    Quote Originally Posted by beatleboy View Post
    The economy completely collapsed, how do think that was to be corrected, let the auto industry fail, let the banks go under, what the hell good would that have done? Millions out of jobs, no income, living on borrowed time with unemployment, snap, etc., all needs to be paid for, did you hem and haw when Bush put us in so much debt with his medicare D, his tax cuts for the rich, his two wars, not paying ONE DIME for any of it, put it all on the American credit card. I see a selective memory.

  10. #40
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    Quote Originally Posted by namvet69 View Post
    That's roughly 3 trillion in his first year. Watch how he and Ryan plan to pay for all this and for stuff to come. SocSec cuts, Medicare/medicaid cuts, food stamp cuts, AFDC cuts, Healthcare cuts, etc. It's always the middle class and working poor who pick up the tab for GOP wish lists. It's like they treat working people like a bottomless pit of money they can draw from time after time. It's comin' soon. Just watch. Ayn Rand must be on cloud nine.
    The amt Trump wants for infrastructure is rather high, but if we don't fix that, there will be no economy, roads, bridges, underground pipes and such, without them in great working conditions, the trucks won't be able to commute with all the commodities we need to live on this planet, businesses will go under. Yes, they will hit the most vulnerable to compensate, it's how the GOP works, give the wealthiest the breaks, give the rest the shaft. Thank goodness for Democrats who will fight tooth and nail for the average people. I agree with all you said.

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