Recession warning

[Cratic3947]

@SeaManatee

Didn’t he shut down the government for wall money? What kind of spin is this?

What percent of the deficit did that cause?

[Adam]

@SeaManatee

Didn’t he shut down the government for wall money? What kind of spin is this?

Actually the trump supporter narrative at the time was that Trump didn’t shut down the government, democrats did.

Yeah that was the line till Trump literally said it was all on him. On camera.

[mobiusptc]

@Cratic3947

Sure they did. You think the problem can be solved in one budget. Then why didn’t they fix it decades ago, before Trump?

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 month…

not his fault at all

[ohknow35]

That’s 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?

[DOLOOP]

@Snagglepuss

Like I said…a whole lot of projection going on in here…

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 “labor participation rate” ■■■■■■■■ and just assume that others run with the same emotions they did.

Classic projection.

[mobiusptc]

US posts $14 billion budget deficit as revenues sag after Trump tax cuts

how much is

But Washington’s 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.

[ohknow35]

No budget was passed. Just CRs.

[mobiusptc]

@ohknow35

No budget was passed. Just CRs.

you get a cookie

so while controlling both chambers and the presidency they couldn’t even come up with a budget

go GOP! Go Trump

[Cratic3947]

Everyone else knows what the drivers of the deficit are as predicted for decades… It would probably be worse without the stimulus of the tax cuts. We have record tax revenue…

[FreeAndClear]

@Cratic3947

All the left has their fingers crossed…

You guys and your posts in the old employment and gdp numbers threads give you like no legs to stand on

[ohknow35]

The muslim dictator obama just signed off on more mandatory spending which has carried over into trump’s presidency.

[mobiusptc]

@Cratic3947

Everyone else knows what the drivers of the deficit are as predicted for decades… It would probably be worse without the stimulus of the tax cuts. We have record tax revenue…

well i am glad you talked about that

What Are the Costs of the Trump Tax Cuts to You?

Treasury’s 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?

[mobiusptc]

@ohknow35

The muslim dictator obama just signed off on more mandatory spending which has carried over into trump’s presidency.

during the 3 government shutdown of 2018? Obama did that? someone should tell trump

but if he is a dictator…how is he still not in office?

[ohknow35]

Not he “just did it”, as in, just last year in 2018.

He “just did it”, as in, that was his contribution to CRs and the budget battle, to make more spending mandatory.

Thanks obama.

[mobiusptc]

@ohknow35

Not he “just did it”, as in, just last year in 2018.

He “just did it”, 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

[Cratic3947]

@mobiusptc

@Cratic3947

Everyone else knows what the drivers of the deficit are as predicted for decades… It would probably be worse without the stimulus of the tax cuts. We have record tax revenue…

well i am glad you talked about that

Cost of Trump Tax Cuts

Treasury’s 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?

Did you read this articel…

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.

[ohknow35]

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.

[mobiusptc]

@Cratic3947

@mobiusptc

@Cratic3947

Everyone else knows what the drivers of the deficit are as predicted for decades… It would probably be worse without the stimulus of the tax cuts. We have record tax revenue…

well i am glad you talked about that

Cost of Trump Tax Cuts

Treasury’s 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?

Did you read this articel…

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.

um yes…that why there was this disclamer

Who’s 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 Committee’s estimate would be most accurate.

the 2.3B$ came from the Treasury department…you know who Mnuchin pet the same guy who stated "“Not only will this tax plan pay for itself, but it will pay down debt,” "

and that is “if” 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 debt…at least. the problem is the deficit keeps rising and rising and rising as the year drags on.

thanks Trump

[noSpaces]

Yeeeeehaw!

[Adam]

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. They’re messing things up for our winning. But once again, it’s not only insane that the president is just ripping into the Fed(which other presidents didn’t do), but it’s his own ■■■■■■■ appointee.
And does anyone actually think Trump knows what the inverted yield curve is?