Economy US Deficit highest in 6 years ...and increasing!

[nostradumbass]

Ah fuck, are you going to try to tell me this shit aint tricklin?
I know how this works we give to the rich and it trickles down to the rest of us. Any other spin on the economy is fake news and probably a false flags planted by Hillary and Obama. The Republicans have expenditure for important stuff and the Democrats waste every penny they have stolen from the rest of us. They literally steal from our paychecks.
Fuck health care and social security we need to spend more money sending troops to the open border so they can shoot bare foot brown people for throwing sticks and stones.

Uh, wages have increased. Deficit means government, not paychecks.

 

[cleetus]

It's largely (almost half) due to Obama era spending. Obama raised the debt by 86% and the interest due because of that debt is added to each year's deficit.

Trump's portion of the deficit is largely due to tax breaks for us and less business regulations. Without Obama's huge debt increases, we'd have a only small increase in the deficit.

 

[VivaRevolution]

Probably Mexicans, or at least that is the opinion of the average GOP voter.

 

[ChillBroBaggins]

Hear ye, hear ye, place your trust in Supply Side Jesus!

 

[MMAViewer]

Uh, wages have increased. Deficit means government, not paychecks.

No they really haven't if you look at inflation.

https://www.google.com/amp/www.pewr...l-wages-have-barely-budged-for-decades/?amp=1
But this is probably fake news.

Also how does deficit mean government? What does that even mean?
The deficit is increasing because we are spending more than we bring in and trying to lower taxes at the same time.
That's like trying to make more money by getting a pay cut and charging up a credit card.

Trump and his team of only the best have you convinced his spending (tax cuts to his rich buddies) will trickle down to the rest of the earners. In truth it has increased the operating deficit and added to the record debt. The Bush tax cuts that didnt get put in check by obama and the trump tax cuts are costing us bigly. All three administrations are responsible!
In addition military spending is skyrocketing and our military is spending money on political bantering and race baiting bs by trumps ginned up fear of a brown invasion.

 

[MMAViewer]

Probably Mexicans, or at least that is the opinion of the average GOP voter.

They would be partly correct.
Sending troops from afganistan to the border of Mexico is expensive.

 

[ScottE]

The GOP passed and Trump signed into law tax cuts that required 5.0 annualized GDP growth to have a neutral effect on tax revenue. That was never a realistic growth bar to set. There was no sound logic behind it as there are numerous economic bottlenecks in place.

Because the economy is suppose to he Trump's fallback politically speaking the GOP has increased government spending to try and push the economy to the finish line they need politically. It's not working. We've seen two quarters of strong growth but not anywhere near what the GOP needs or near where the tax cuts were predicated on bringing us.

This is a problem as historically speaking the effect of tax cuts in consumer spending is most keenly felt for the two quarters right after they are implemented (Q2 and Q3 in this case) and it is similar with increases in government spending.

So it appears as if the GOP has been debt financing the economy to try and bouy it enough to push them through midterms. If Q2 and Q3 are the high water mark of economic growth, which is historically speaking the case in this situation, then we have got problems moving forward. We are implementing recession spending policies at the other end of the economic cycle, this is not pragmatic governance in the long term. It will inhibit our ability to deal with the next recession.

They cut revenue (from what if would have been) while still increasing spending. The GOP is showing themselves to be the least deficit conscious of the political parties.

 

[IReallyDoTrainUFC]

Revenues have increased under Trump: FY2018 total revenue is estimated at $3.654 trillion. That's higher than FY2016 (Obama's last full year), when revenue was $3.268 trillion.


However, expenditures have also increased under Trump, from $3.853 trillion in FY2016 to an estimated $4.094 trillion in FY2018.

Both parties have more or less gotten all the spending they have wanted since Trump took office. Democrats have mostly gotten the domestic spending increases they wanted, and Republicans have mostly gotten the military spending increases they wanted.

Bingo.

Both parties are the parties of big government.

That's why I have no idea why more conservatives haven't become libertarians like myself.

 

[waiguoren]

Bingo.

Both parties are the parties of big government.

That's why I have no idea why more conservatives haven't become libertarians like myself.

Many libertarians support completely open borders, for one. (Examples: Bryan Callen, Arvin Vohra, Jasen Wunde, Gary Johnson)

 

[sickc0d3r]

The GOP passed and Trump signed into law tax cuts that required 5.0 annualized GDP growth to have a neutral effect on tax revenue. That was never a realistic growth bar to set. There was no sound logic behind it as there are numerous economic bottlenecks in place.

Because the economy is suppose to he Trump's fallback politically speaking the GOP has increased government spending to try and push the economy to the finish line they need politically. It's not working. We've seen two quarters of strong growth but not anywhere near what the GOP needs or near where the tax cuts were predicated on bringing us.

This is a problem as historically speaking the effect of tax cuts in consumer spending is most keenly felt for the two quarters right after they are implemented (Q2 and Q3 in this case) and it is similar with increases in government spending.

So it appears as if the GOP has been debt financing the economy to try and bouy it enough to push them through midterms. If Q2 and Q3 are the high water mark of economic growth, which is historically speaking the case in this situation, then we have got problems moving forward. We are implementing recession spending policies at the other end of the economic cycle, this is not pragmatic governance in the long term. It will inhibit our ability to deal with the next recession.

They cut revenue (from what if would have been) while still increasing spending. The GOP is showing themselves to be the least deficit conscious of the political parties.

Yup. If you cut taxes and continue to spend, or actually increase spending as we did, of course it will have a stimulus effect that isn't sustainable. And the dems will be on the hook for addressing the problem at least partially when they take the house in January. Either way, I am guessing big cuts are coming next year.

 

[zebby23]

MAGA? I think this is all part of maga. That’s what Trump told me

 

[Seano]

edit misread

 

[44nutman]

Uh, wages have increased. Deficit means government, not paychecks.

Costs are out pacing wages.
Housing market is getting ready to go the other way. Housing supplies are increasing and prices are stagnant. That is why Trump loses 2020, not because he is an asshole but the economic cycle is about to turn.

 

[waiguoren]

the dems will be on the hook for addressing the problem at least partially when they take the house in January.

You seem confident.

 

[IReallyDoTrainUFC]

Many libertarians support completely open borders, for one. (Examples: Bryan Callen, Arvin Vohra, Jasen Wunde, Gary Johnson)

Wrong. Libertarians don't want a police state at the "border". Because police states at borders violate people's rights and can be used to keep people in, like in East Germany.

Libertarians are completely for private property rights.

But the problem with immigration stems from the reason that they come here. If you dismantled the out of control welfare state, the only people that would come to America are the hard working ones who want to contribute to the economy and make a better life for themselves, not the leeches of society.

Statism causes the problem itself. It is the liberal solution to try to solve a government created problem with another government program.

 

[sickc0d3r]

You seem confident.

Yes, I think the dems will take the house. You don't?

 

[waiguoren]

Libertarians don't want a police state at the "border". Because police states at borders violate people's rights and can be used to keep people in, like in East Germany.

Correct.

Libertarians are completely for private property rights.

Correct.

But the problem with immigration stems from the reason that they come here. If you dismantled the out of control welfare state, the only people that would come to America are the hard working ones who want to contribute to the economy and make a better life for themselves, not the leeches of society.

Without getting into the debate here, I want to point out that my statement was accurate. As you pointed out, libertarians usually support open borders. That's something that turns conservatives off to them.

 

[waiguoren]

Yes, I think the dems will take the house. You don't?

Not sure yet. I was working on modeling the House outcome for a while but stopped after I secured a bet with @Jack V Savage. I might pick it back up after I'm done my work on UFC 230.

Basically, some of the "experts" including Nate Silver are using a flawed approach again. That's the essence of my bet with Jack.

 

[IReallyDoTrainUFC]

Correct.



Correct.



Without getting into the debate here, I want to point out that my statement was accurate. As you pointed out, libertarians usually support open borders. That's something that turns conservatives off to them.

Right, but conservatives are big government statists, so there is the problem right there.

 

[waiguoren]

Right, but conservatives are big government statists, so there is the problem right there.

No, Republicans are often big government statists.

Conservatives believe in small government + fiscal responsibility, preservation of traditions, and strong borders.