Federal deficit jumps 20 percent after tax cuts, spending bill

Discussion in 'The War Room' started by Rational Poster, Aug 8, 2018.

  1. Rational Poster

    Rational Poster War Room Messiah Platinum Member

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    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.
     
  2. JamesRussler

    JamesRussler Black Belt

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    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.
     
  3. SaiWa

    SaiWa Black Belt

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    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.
     
    Last edited: Aug 8, 2018
  4. Edison Carasio

    Edison Carasio Excellence of execution belt

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    "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?"
     
  5. Rational Poster

    Rational Poster War Room Messiah Platinum Member

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    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.
     
  6. JamesRussler

    JamesRussler Black Belt

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    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.
     
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  7. Rational Poster

    Rational Poster War Room Messiah Platinum Member

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    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.
     
    Last edited: Aug 8, 2018
  8. vengeful

    vengeful Brown Belt

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    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.
     
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  9. 7437

    7437 Gold Belt

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

    franklinstower Red Belt

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    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.
     
  11. Execute

    Execute Gold Belt Platinum Member

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    <[analyzed}>
     
  12. Rational Poster

    Rational Poster War Room Messiah Platinum Member

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    Weird

    It's been nearly 2 hours here and the only Trump-bot posting is the most obvious troll on this karate subforum.
     
    MiniCraque, tonni, Juventud and 11 others like this.
  13. sabretruth

    sabretruth Gold Belt

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    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.
     
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  14. KONG-D'SNT-TAP

    KONG-D'SNT-TAP Titanium Belt

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    Republicans can fuck up any economy. That’s what they’ve done for 40 years.
     
    Last edited: Aug 8, 2018
  15. JamesRussler

    JamesRussler Black Belt

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    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.
     
  16. JamesRussler

    JamesRussler Black Belt

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    I don't disagree with anything you said there.
    [​IMG]
     
  17. GetTheseHands

    GetTheseHands 2 For 1 Deal Double Yellow Card

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    We have said this for over a year...CUT SPENDING
     
  18. computer fogie

    computer fogie Senior Moderator Senior Moderator

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    What?

    Troll.
     
  19. BangersAndSmash

    BangersAndSmash Purple Belt

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    [​IMG]
     
  20. Darkballs

    Darkballs Black Belt

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

    Federalist Society for the loss, again.
     

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