Nancy negotiated a $320 billion increase in the national debt in her budget deal, do you support that?Higher deficits have forced the government to ramp up borrowing since early 2018, due in part to slumping revenue following the tax cut and a 2018 budget deal that lifted domestic and military spending for two years.
Over the 12 months that ended in July, the deficit totaled $961.8 billion, or 4.5% as a share of gross domestic product. Revenues over the previous 12 months rose 2.4%, while federal spending was up 6.3%.
The Treasury said last month it expects to borrow more than $1 trillion this calendar year for the second year in a row, as the annual budget gap is on track to exceed $1 trillion for fiscal year 2019, which ends Sept. 30.
A recently enacted budget deal, which President Trump signed earlier this month, will maintain the current government spending trajectory and add further to federal deficits over the next two years.
U.S. Budget Gap Widens 27% in First 10 Months of Fiscal Year
You said nothing while Øbama doubled the national debt in eight years. That is fact, and the recession ended summer 2009. And now you want people to believe that you care about the deficit because ...
Did you see what the stock market did today?A) Like it needs to be explained over and over that Obama inherited a terrible recession
B) 27% in less than ONE year?
C) Looks like the average person didn't get really much from the Tax Cut - while those at the top and the big corps did
D) Did you see the stock market today?
Stocks fell as a wave of selling that analysts attributed to mounting doubts about a trade deal pulled lower shares of everything from banks to technology companies.Worries about the path of U.S.-China trade negotiations and the global economy have kept stocks and bond yields under pressure.
Goldman Sachs analysts said the outlook for trade talks had “collapsed,” and they believe Washington and Beijing won’t reach a pact before the 2020 elections. Growing uncertainty has contributed to the markets’ volatility in recent weeks. At midafternoon, selling pressure unexpectedly picked up, dragging the Dow Jones Industrial Average down as many as 462 points before it pared losses. Analysts said there were no obvious catalysts for the move.
The Dow industrials ended down 389.73 points, or 1.5%, at 25897.71. The S&P 500 declined 35.56 points, or 1.2%, to 2883.09, and the Nasdaq Composite fell 95.73 points, or 1.2%, to 7863.41.
Few believe the U.S. is headed toward a downturn just yet. But many worry that the gloomy outlook reflected in bond markets, where yields across the globe have dropped, could soon be reflected in stocks, too.
U.S. Stocks Decline Amid Trade Woes
And who is responsible for the trade wars we are currently having?
But yeah, sure thing you are a member of the party of "fiscal responsibility". Complain about it all the time under Obama. Under Trump, nada, nothing, zippo.
|Recent Similar Discussions||Forum||Date|
|Rudy flew into Ukraine on a budget flight - He left on a private jet||Current Events|
|House subpoenas White House budget officials, State Department advisor in impeachment probe||Current Events|
|North Carolina GOP hammers through budget vote amid 9/11 ceremonies||Current Events|
|Senate passes 2 year budget deal||Current Events|