What percent of the deficit did that cause?
Yeah that was the line till Trump literally said it was all on him. On camera.
so he and republican agreed on a budget, then passed a series of tax cuts that were promised to reduced the Debt (which by logic mean it would reduced or erase deficit) but its not his fault. nor is it his fault that in a period of full employment, huge draw downs in 2 war zones the deficit is at the same level as a period where millions of people were losing their jobs each monthā¦
not his fault at all
Thatās not part of the budget, and budget process? What kind of spin is this?
What was the thing they passed in order to reopen the government?
I think a lot of folks still have fresh in their minds the persistent claims about 250k/per month job gains being crappy economic performance, and complaining about slow GDP growth at 3%, and ālabor participation rateā ā ā ā ā ā ā ā ā and just assume that others run with the same emotions they did.
Classic projection.
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how much is
But Washingtonās accounts have run $319 billion into the red since the fiscal year began in October, compared to a $225 billion deficit over the same period a year earlier.
No budget was passed. Just CRs.
you get a cookie
so while controlling both chambers and the presidency they couldnāt even come up with a budget
go GOP! Go Trump
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Everyone else knows what the drivers of the deficit are as predicted for decadesā¦ It would probably be worse without the stimulus of the tax cuts. We have record tax revenueā¦
You guys and your posts in the old employment and gdp numbers threads give you like no legs to stand on
The muslim dictator obama just signed off on more mandatory spending which has carried over into trumpās presidency.
well i am glad you talked about that
Treasuryās latest analysis includes this scenario. In that case, the tax cuts would cost $2.3 trillion instead of $1.5 trillion over the next 10 years. A Politico report found that all additional revenue from increased growth would go toward paying for the cuts. The cost is too high for the tax cuts to pay for themselves. Instead, the deficit and debt would continue to grow.
so that would be about 230 billion a year
how much was the the deficit now?
during the 3 government shutdown of 2018? Obama did that? someone should tell trump
but if he is a dictatorā¦how is he still not in office?
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Not he ājust did itā, as in, just last year in 2018.
He ājust did itā, as in, that was his contribution to CRs and the budget battle, to make more spending mandatory.
Thanks obama.
so republican in the house (for how long did htey control both houses) are blameless and trump agreeing to raising debt ceiling is not his fault too. its never his fault
https://www.bloomberg.com/news/articles/2019-07-22/trump-says-lawmakers-reach-bipartisan-debt-limit-suspension-deal
Did you read this articelā¦
The Treasury report projected the tax cuts and the budget would boost economic growth to 2.9% a year for the next 10 years. That prosperity would boost tax revenue enough to offset the tax cuts.
Two Other Reports Disagree
The Joint Committee on Taxation analyzed the tax cuts alone. It came to a different conclusion. It said the Act would increase the deficit by $1 trillion over the next 10 years. The Committee expected the economy to grow just 0.7% a year. It did not take into account the other changes in the FY 2018 budget.
The Tax Foundation came up with a second conclusion. It said the Act will add almost $448 billion to the deficit over the next 10 years.
First bold say tax cuts added 100 billion to the annual deficit, and and second says only 44 billion a year. The deicit is 800 billion.
No, I agree that they should have pushed harder to pass a budget.
How many budgets have been passed in the past 40 years? How many along party lines?
It would have been next to impossible.
But yeah, they should have tried harder.
um yesā¦that why there was this disclamer
Whoās right? It all depends on what assumptions you use. It seems most fair to simply look at the effect of the tax cuts. In that case, the Joint Committeeās estimate would be most accurate.
the 2.3B$ came from the Treasury departmentā¦you know who Mnuchin pet the same guy who stated "āNot only will this tax plan pay for itself, but it will pay down debt,ā "
and that is āifā the tax cut becoming permanent.if they are not then there would not be as much added to the debt
so in the best case scenario if everything works out the assumption it makes is the tax cut would have added at least 5% do the debtā¦at least. the problem is the deficit keeps rising and rising and rising as the year drags on.
thanks Trump
So yeah, Trump is jumping in to calm people down:
https://twitter.com/realDonaldTrump/status/1161719408202584064
https://twitter.com/realDonaldTrump/status/1161719409804808193
And yeah, screw those protesters in Hong Kong. Theyāre messing things up for our winning. But once again, itās not only insane that the president is just ripping into the Fed(which other presidents didnāt do), but itās his own ā ā ā ā ā ā ā appointee.
And does anyone actually think Trump knows what the inverted yield curve is?
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