Federal deficit jumps 20 percent after tax cuts, spending bill

[Rational Poster]

http://thehill.com/policy/finance/4...jumps-20-percent-after-tax-cuts-spending-bill

The federal deficit jumped 20 percent in the first 10 months of the 2018 fiscal year, the Congressional Budget Office (CBO) reported Wednesday.

Spending outpaced revenue between the beginning of the fiscal year, on Oct. 1, and July by $682 billion, $116 billion more than over the same period in the last fiscal year.

The rising deficit is largely the result of the tax cuts President Trump signed into law at the end of last year, as well as a bipartisan agreement to boost spending, according to CBO.

The CBO projects that the deficit will reach $793 billion by the end of the year and approach $1 trillion next year. White House estimates have the deficit surpassing $1 trillion in 2019.


Get in here Trump-bots and tell me how this is a good thing.

Keep in mind I will use the Sherdog search function to cross reference your thoughts on Obama and the debt/deficit.

 

[JamesRussler]

This is a great opportunity to cut federal spending. Since that is Congress’s job, and Democrats want to increase spending (in addition to raising “revenue”), it’s very important that Conservatives vote in November.

 

[SaiWa]

This is a great opportunity to cut federal spending. Since that is Congress’s job, and Democrats want to increase spending (in addition to raising “revenue”), it’s very important that Conservatives vote in November.

Last time I checked Congress majority had been and still is GOP for the last what... 8 years...

Any increased spending that has been incurred of recent doesn't get passed without GOP approval and yet you seem to think only Democrats are about increasing spending when it is both parties. lol.

 

[Big Nasty Edison]

"Sorry guys, the infrastructure spending was cancelled due to bloated deficits. But hey, use that $20 you got from the tax cuts to order Dominoes and maybe they'll fix all the pot holes?"

 

[Rational Poster]

This is a great opportunity to cut federal spending. Since that is Congress’s job, and Democrats want to increase spending (in addition to raising “revenue”), it’s very important that Conservatives vote in November.

But Republicans control the entire government and increased spending and lowered revenue.

The last Democrat to hold the President's office cut the deficit in half.

And the Democrat before him was the only President in our lifetime to produce a budget surplus.

You are fake news.

 

[JamesRussler]

But Republicans control the entire government and increased spending and lowered revenue.

The last Democrat to hold the President's office cut the deficit in half.

And the Democrat before him was the only President in our lifetime to produce a budget surplus.

You are fake news.

Got some sources/links for those claims?

I literally just got done pointing out that Congress controls the budget, and you bring up the last two Democratic presidents. Who controlled Congress when Bill Clinton was president? Who controlled Congress for most of Obama’s term? If you’re suggesting that Democratic policies reduce the budget deficit, I’m sorry but nobody on Earth believes that.

 

[Rational Poster]

Got some sources/links for those claims?

I literally just got done pointing out that Congress controls the budget, and you bring up the last two Democratic presidents. Who controlled Congress when Bill Clinton was president? Who controlled Congress for most of Obama’s term? If you’re suggesting that Democratic policies reduce the budget deficit, I’m sorry but nobody on Earth believes that.

Can you explain why the Republicans decreased revenue and increased spending this year if that's your position?

We are going to have over $1t deficit next year with no ongoing crisis. They just wanted a tax cut for themselves and their buddies.

 

[vengeful]

Got some sources/links for those claims?

I literally just got done pointing out that Congress controls the budget, and you bring up the last two Democratic presidents. Who controlled Congress when Bill Clinton was president? Who controlled Congress for most of Obama’s term? If you’re suggesting that Democratic policies reduce the budget deficit, I’m sorry but nobody on Earth believes that.

The Republicans control Congress now and they have just signed the 2nd biggest budget ever, all while reducing revenue due to Trump's tax cuts.

Neither the Democrats or Republicans want to lower the deficit, they only want to talk about it when the other side is in charge to get votes, when they're in charge they don't want to cut spending because they'd have to cut popular government programs that would cost them votes and they're not going to risk their cushy jobs to balance a budget when they can just overspend and borrow to cover their asses.

 

[7437]

This is a great opportunity to cut federal spending. Since that is Congress’s job, and Democrats want to increase spending (in addition to raising “revenue”), it’s very important that Conservatives vote in November.

uhhh..... Conservatives just increased the budget. By alot.

 

[franklinstower]

Can you explain why the Republicans decreased revenue and increased revenue this year if that's your position?

3 reasons man.

One-- to give lots more money to the super wealthy. Two- to give a tiny tax break to the middle class to appease for their shitty positions, Three-- to make and create perceived need to cut social programs across the board and raise the retirement age -- and this is to support reason one.

 

[Execute]

This is a great opportunity to cut federal spending. Since that is Congress’s job, and Democrats want to increase spending (in addition to raising “revenue”), it’s very important that Conservatives vote in November.

 

[Rational Poster]

Weird

It's been nearly 2 hours here and the only Trump-bot posting is the most obvious troll on this karate subforum.

 

[Deleted member 159002]

Unlike during the GFC, there was no good reason to increase the debt through these latest measures. We were already at full employment when the Trump tax cuts were passed.

 

[KONG-D'SNT-TAP]

Republicans can fuck up any economy. That’s what they’ve done for 40 years.

 

[JamesRussler]

Can you explain why the Republicans decreased revenue and increased spending this year if that's your position?

We are going to have over $1t deficit next year with no ongoing crisis. They just wanted a tax cut for themselves and their buddies.

Because they're irresponsible sellouts who have calculated that it's more politically risky to cut federal programs than it is to just leave them in place while publicly denouncing such programs generally. I'm not gonna white knight for Republicans on this issue. Ya got me there.

But are Democrats the fiscally responsible alternative? Of course not.

 

[JamesRussler]

Neither the Democrats or Republicans want to lower the deficit, they only want to talk about it when the other side is in charge to get votes, when they're in charge they don't want to cut spending because they'd have to cut popular government programs that would cost them votes and they're not going to risk their cushy jobs to balance a budget when they can just overspend and borrow to cover their asses.

I don't disagree with anything you said there.

 

[GetTheseHands]

We have said this for over a year...CUT SPENDING

 

[computer fogie]

This is a great opportunity to cut federal spending. Since that is Congress’s job, and Democrats want to increase spending (in addition to raising “revenue”), it’s very important that Conservatives vote in November.

What?

Troll.

 

[BangersAndSmash]

Got some sources/links for those claims?

I literally just got done pointing out that Congress controls the budget, and you bring up the last two Democratic presidents. Who controlled Congress when Bill Clinton was president? Who controlled Congress for most of Obama’s term? If you’re suggesting that Democratic policies reduce the budget deficit, I’m sorry but nobody on Earth believes that.

 

[Darkballs]

This is a great opportunity to cut federal spending. Since that is Congress’s job, and Democrats want to increase spending (in addition to raising “revenue”), it’s very important that Conservatives vote in November.

Conservatives are the ones who increased the budget, and slashed taxes to pay for it.

Federalist Society for the loss, again.