Deficits as far as the eye can see!

Remember under Bush…when I attacked him and repugs? Yeah I bet you forgotten. I said I waited for my entire life for republican president, republican congress and senate…and what did they do?

Yeah libs here called me one of good Conservatives at the time.

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Tax cuts for working folks…was that a problem for you?

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You did express concern i already pointed that out in the other thread :blush:

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But there were record tax revenues…. Remember :blush:

Yes I do though i got here towards the end of his years in office.

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Bush the 2nd remember him? Cutting taxes mostly for corporations while increased spending.

And to think the time he came to office it was net zero. That really pissed me off at the time. That’s when I started calling republican repugs.

Yes…even with tax cuts for working folks tax revenue still went up.

Sadly we should have cut more spending thou. :wink:

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The Dems believe the answer to fix this problem and every problem is to flood the nation with the world’s poverty and put them on welfare at the US taxpayer’s expense! At least that’s what Biden is trying to do. I guess we just have to wait and see if it works. :man_shrugging:

Sorry, but I care when either are in power, and have been vocal about it.

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There are more than a few of us that are fiscal conservatives that wasn’t happy with Trump’s covid spending, in Rand Paul’s camp.

Imho at this point (If not to late) regardless of D or R someone needs to step up and address the country that we are going to destroy the dollar if it doesn’t slow down. I often wonder what does the end game look like wheel barrels full of cash to buy bread and Glenn Beck goldline commercials.

He doubled the deficit before the covid spending.

He’s not a fiscal conservative I am more interested if anyone will do anything about it and if not how much time before inflation goes up way past its current level.

Reminds me of all those old Ron Paul vs Fed house hearings about the destruction of the dollar.

Nobody will soon. Though i believe spending cuts are possible and should be implemented

That Ron Paul guy never grew up. Libertarianism is idealism for kids in their 20s who instead of wearing Che t shirts wear Ron Paul t shirts. Granted only one of them was a mass murdering scum bag. But that’s for another thread.

Yes that’s me being snide and condescending but it’s just that libertarianism to me is just another form of idealism. :blush:

The budget will balance and the debt will be eliminated when the currency crashes into hyperinflation. Seems to be the goal of the democrats…

how do explain away the 4.9% growth in the GDP 3q2023?

is that growth not good enough for you righties?

Allan

Easy peasy

From the actual BEA report (not the cherry-picked LMSM version)
1)

The personal saving rate—personal saving as a percentage of disposable personal income—was 3.8 percent in the third quarter, compared with 5.2 percent in the second quarter.
IOW 1.4% of the “growth” came from people no longer saving money or paying off debt (not counted in GDP). Instead, Americans took money they previously used for that an used it for everyday necessities.

and
2)

Source:
https://www.bea.gov/sites/default/files/2023-10/gdp3q23_adv.pdf

Per above:
Of the annualized 4.9% GDP growth (on paper)

  • 1.4% of was actually diminished savings and diminished debt paying
  • 0.75% was paper growth only (housing utilities and healthcare)
  • 2.11% was government growth and changes in private inventories.

In case anyone doesn’t have a calculator handy:
THAT total 4.26%.

Actual growth excluding those paper-only items was 0.64% annualized.

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crashes? no, they want to eliminate paper currency (they cannot control that) but the new digital currency (which they think they will control) - you will only but government approved any/everything with government controlled currency…

another reason for the second

Did you pwoned?

Amazing

Let’s do that for say third quarter 2018