We hit 22 trillion in debt..break out the balloons

Politics
132

No no…you just add and subtract, don’t you see?

What’s this baselining against the current state nonsense?

That sounds like an weenie liberal concept to me.

Next you’ll be talking about how we have to take inflation into account too, and that’s just downright comminist!

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133

Not just the CBO. Any analysis by anyone showed the same thing. And you know why.

134

Yes, the dems have few if any Paul Ryan’s. He was willing to compromise, but dem leadership stopped it. When will the dems put together a serious package.

135

Of course deficits were predicted. Absent draconian measures, deficits aren’t going away.

But deficits of the size we are having were not predicted absent the tax cuts.

Had the tax structure remained unchanged, the projected deficits were much smaller than the deficits we are seeing now.

Doubling the deficit in a growing economy at or near full employment…that’s called building in a structural deficit.

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136

at worst tax cuts added about 100 billion a year… it’s not a static economy.

Either way, dems have the house.

137

So, looks like you need more math.

The sequester, which started in CY2013, only cut about $42 billion in actual outlays in 2013 and following years [1] and we still increased spending a total of $52 billion from FY2013 to FY2014. The deficit went from $680 billion in FY2013 to $485 billion in FY2014 for a difference of $196 billion. Wait a second, 196 is larger than the 42 that was a result of the sequester. How did the deficit drop an additional $150 billion? Because revenues rose $247 billion from FY2013 to FY2014, showing that REVENUES had a greater impact to deficit reduction rather than spending cuts just like REVENUES are having a bigger impact in our deficit increase now. This is something that Republicans can’t get through their heads because their are cultists at the alter of supply-side economics.

  1. https://www.cbo.gov/sites/default/files/113th-congress-2013-2014/reports/43907-BudgetOutlook.pdf
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138

No, they added $200 billion to the deficit. That’s indisputable. They dropped revenues as a percentage of GDP down to 16.4%.

139

Why did the GOP deny it when they were claiming the tax cuts would reduce the deficit? Or is this going to the obama “saved or created” phase?

140

I am so glad the Republicans did something about this when they were in control of Washington.

141

Nobody knew that economic analysis was so complicated.

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142

Yes but that doesnt have a good political ring to it “only due to the GOP sequester!”. How am i supposed to remember all that fancy pancy analysis?

143

This didn’t age too well.

https://twitter.com/realdonaldtrump/status/245985117271642112?s=21

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144

And they’re projected to add $263 B to the deficit over the baseline case (oh there’s that eeeevuhl liberal word “baseline” again) in FY 2019.

145

Best time to run up the debt is when the economy is going well.

That’s Trumpizm for you.

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146

Exactly, and it’s this compounding effect that will result in the tax cuts alone adding over $2T to the debt over the course of a decade.

147

Federal revenue increased by 1/2 a percent in 2018… It did not go down.

148

This misconception has already been addressed…multiple times.

In this very thread.

149

You mean revenue is not up?

150

If revenue is up and the deficit is up… Must be something else. As predicted for decades.

151

Revenue always goes up unless there’s a recession.

Revenues are down from what they would have been had the tax laws been unchanged…thus contributing $200 M to the growing deficit…which will be compounded over future years.

As the math shows, GDP growth would have had to been in the 7% range for revenue to grow over baseline.

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