Ballooning Deficits? Spiking Interest Rates? It's The Republican Way

[skews13]

Mick Mulvaney loves him some deficit, when it comes with corporate tax cuts.


Once upon a time, Republicans said that deficits and a balanced budget were the most important things in the world. But that was when the president was a black man and they had to come up with some justification for trying to block his every move other than racism. So they called it fiscal responsibility. Now that he's gone and one of their own is occupying the oval office, fiscal responsibility is out the window and they're okay with that and the recession it could bring. Because they got their tax cuts.

The U.S. will post a larger budget deficit this year and could see a "spike" in interest rates as a result, but lower deficits are possible over time based on sustained economic growth from Donald Trump's tax cuts, said Budget Director Mick Mulvaney.
Mulvaney spoke on "Fox News Sunday," a day before the White House is expected to release 2019 spending proposals—and after weeks in which financial markets have been spooked by prospects for rising inflation tied to higher deficits and lower taxes.

"This is not a fiscal stimulus; it's not a sugar high," Mulvaney said on of the president's economic program, including the $1.5 trillion tax cut passed in late 2017.

"If we can keep the economy humming and generate more money for you and me and for everybody else, then government takes in more money and that’s how we hope to be able to keep the debt under control," Mulvaney said.

There's not a self-respecting economist out there who sees economic growth coming out of those tax cuts. A Morgan Stanley analysis forecasts that just 13 percent of the tax cuts to corporations will trickle down to employees in the form of bonuses, raises and employee benefits. That's opposed to 43 percent which "will end up in the hands of investors in the form of stock buybacks and dividends."

The administration's updated budget proposals, to be released this week, reinforces the screw-the-99 percent ethos that drove that tax cuts bill. It would balloon the defense budget and spend billions on "border security" and slash the programs that help people, particularly Medicaid and food assistance.

So spiking interest rates, cuts to domestic spending programs, and a ballooning deficit that will give Republicans the excuse to make even deeper domestic spending cuts. That's the Republican dream.

Ballooning deficits? Spiking interest rates? It's the Republican way

 

[BluesLegend]

After the left piled on $10 trillion suddenly they are concerned about deficits

 

[skews13]

After the left piled on $10 trillion suddenly they are concerned about deficits

Another idiot that shouldn’t talk.

The Republicans have controlled Congress since 2010.

Only Congress can spend money.

You are dismissed as the know nothing right wing ass crack licker that you are.

Now do the world and your family a favor and shoot yourself in the head.

 

[Moonglow]

The GOP debt panic during Oblama was just a fraud to get elected...

 

[bendog]

Rates may not rise all that much to tank the expansion, but neither party has been responsible lowering our debt/gnp ratio the past four years or so. And ironically it was Mulvaneny and his shit for brains freedom caucus that torpedoed any effort to cut entitlements because it involved tax increases too

 

[MACAULAY]

I just want to note that Trump is modeling his economic plans after Reagan...and Reagan got Reelected to a second term by winning 49 out of 50 states....and brought down Soviet Union in the process without firing a shot.

I will also note that when he was first elected he was called a knave and a fool, unfit for office, a moron who would get us into a nuclear war sure as hell.

I remember it well. Liberals were screaming at the sky in utter hysteria back then too.

The screaming made me content back then...and it makes me content today.

 

[Harpy Eagle]

I just want to note that Trump is modeling his economic plans after Reagan...and Reagan got Reelected to a second term by winning 49 out of 50 states....and brought down Soviet Union in the process without firing a shot.

I will also note that when he was first elected he was called a knave and a fool, unfit for office, a moron who would get us into a nuclear war sure as hell.

I remember it well. Liberals were screaming at the sky in utter hysteria back then too.

The screaming made me content back then...and it makes me content today.

And Reagan added 186% to the national debt, a record by about 85%.

I am not really up for another 186% being added to the debt by a single president.

But whatever floats your boat


Sent from my iPhone using USMessageBoard.com

 

[BluesLegend]

After the left piled on $10 trillion suddenly they are concerned about deficits

Another idiot that shouldn’t talk.

The Republicans have controlled Congress since 2010.

Only Congress can spend money.

You are dismissed as the know nothing right wing ass crack licker that you are.

Now do the world and your family a favor and shoot yourself in the head.

You are a liar here have these This clown ^^^ conveniently forgot to mention that Dem's controlled the Senate until Jan 2015 and blocked most every bill the House passed.

 

[MACAULAY]

I just want to note that Trump is modeling his economic plans after Reagan...and Reagan got Reelected to a second term by winning 49 out of 50 states....and brought down Soviet Union in the process without firing a shot.

I will also note that when he was first elected he was called a knave and a fool, unfit for office, a moron who would get us into a nuclear war sure as hell.

I remember it well. Liberals were screaming at the sky in utter hysteria back then too.

The screaming made me content back then...and it makes me content today.

And Reagan added 186% to the national debt, a record by about 85%.

I am not really up for another 186% being added to the debt by a single president.

But whatever floats your boat


Sent from my iPhone using USMessageBoard.com

_____________________________

Every President has added to the National Debt. Obama doubled it. Isn't that 200%?

It also matters what you get for the risk.

Reagan left this Country the strongest in its History and by far the greatest in the World. The period from the collapse of the Soviet Union to 9/11 might go down as America's Golden Time.

Clinton and Gingrich were able to balance the budget for a year or two. They can have plenty of credit, but Reagan gets the most, because he was the basis for the prosperity we enjoyed during that time and for the decreased military spending based on the end of the Cold War and the bankruptcy and collapse of the latest and greatest Marxist Utopian Experiment---Communist Russia.
____________________________

Now, only a generation or two removed....a bunch of Bernie Sanders dumb-asses are ready for the next latest and greatest Marxist Utopian Experiment.

___________________________
____________________________

 

[Harpy Eagle]

I just want to note that Trump is modeling his economic plans after Reagan...and Reagan got Reelected to a second term by winning 49 out of 50 states....and brought down Soviet Union in the process without firing a shot.

I will also note that when he was first elected he was called a knave and a fool, unfit for office, a moron who would get us into a nuclear war sure as hell.

I remember it well. Liberals were screaming at the sky in utter hysteria back then too.

The screaming made me content back then...and it makes me content today.

And Reagan added 186% to the national debt, a record by about 85%.

I am not really up for another 186% being added to the debt by a single president.

But whatever floats your boat


Sent from my iPhone using USMessageBoard.com

_____________________________

Every President has added to the National Debt. Obama doubled it. Isn't that 200%?

It also matters what you get for the risk.

Reagan left this Country the strongest in its History and by far the greatest in the World. The period from the collapse of the Soviet Union to 9/11 might go down as America's Golden Time.

Clinton and Gingrich were able to balance the budget for a year or two. They can have plenty of credit, but Reagan gets the most, because he was the basis for the prosperity we enjoyed during that time and for the decreased military spending based on the end of the Cold War and the bankruptcy and collapse of the latest and greatest Marxist Utopian Experiment---Communist Russia.
____________________________

Now, only a generation or two removed....a bunch of Bernie Sanders dumb-asses are ready for the next latest and greatest Marxist Utopian Experiment.

___________________________
____________________________

Obama added 86% to the debt. The lie that he doubled it has been debunked for a year now. Also, doubling would be adding 100%, not 200%.


Sent from my iPhone using USMessageBoard.com

 

[MACAULAY]

10.6 Trillion when Obama took office....18 trillion by 1/1/2015---thats with two years left in his term.

https://www.washingtonpost.com/news...onal-debt-in-7-charts/?utm_term=.4447422bf700

It hit 19.5 trillion by the end of fiscal year 2016---an increase of 1.42 trillion.

National debt up $1.42 trillion in FY 2016

Fiscal Year 2016 ended in September 2016.....meaning Obama had 5/12ths of a year to keep borrowing and spending...and hif he kept up his 2016 rate, he got over 20 trillion....

So, yes, he essentially DOUBLED the National DEBT.

Next comes Blame BOOOOSH time!

But, Bush is a Never-Trumper like yourself, so we can agree, Bush is a Dumb-Ass.

 

[Indeependent]

The GOP debt panic during Oblama was just a fraud to get elected...

People vote letter.

 

[Harpy Eagle]

10.6 Trillion when Obama took office....18 trillion by 1/1/2015---thats with two years left in his term.

https://www.washingtonpost.com/news...onal-debt-in-7-charts/?utm_term=.4447422bf700

It hit 19.5 trillion by the end of fiscal year 2016---an increase of 1.42 trillion.

National debt up $1.42 trillion in FY 2016

Fiscal Year 2016 ended in September 2016.....meaning Obama had 5/12ths of a year to keep borrowing and spending...and hif he kept up his 2016 rate, he got over 20 trillion....

So, yes, he essentially DOUBLED the National DEBT.

Next comes Blame BOOOOSH time!

But, Bush is a Never-Trumper like yourself, so we can agree, Bush is a Dumb-Ass.

At the end of FY-2009, which is when Obama’s first budget became official he debt was 11.65 trillion. The total debt at the end of FY-17 was 20.24 trillion. That is a growth of 74%.

I am a never Trumper and I was a never Obamaer and a never Busher. That is the difference between you and I, I am consistent in my views while you cheer 186% added by Reagan and whine like a 13 year old about the 74% added by Obama’s.


Sent from my iPhone using USMessageBoard.com

 

[ColonelAngus]

I have been on this site for 2 years.

Numerous times, I have said that MOST OF OUR ELECTED OFFICIALS ARE SELF SERVING PIECES OF SHIT.

It's important not to conflate CONSERVATIVES and REPUBLICANS.

One is a social and econmic philosophy and the other is a political party.

 

[LaDexter]

It is the POST 1998 GOP way.

Before 1998, the GOP was the party of the Gingrich Revolution.


Since 1998, the GOP has had a one sentence platform...


The US exists to serve, fund, defend, and expand ISRAEL until Jesus floats down from the clouds...

 

[Doc1]

After the left piled on $10 trillion suddenly they are concerned about deficits

Another idiot that shouldn’t talk.

The Republicans have controlled Congress since 2010.

Only Congress can spend money.

You are dismissed as the know nothing right wing ass crack licker that you are.

Now do the world and your family a favor and shoot yourself in the head.

Who sets the interest rates Jughead?

 

[LaDexter]

Who sets the interest rates Jughead?

Yeah, nevermind who made the debt go from $5 trillion to over $20 in less than 20 years.

Just focus on interest rates....

 

[skews13]

Rates may not rise all that much to tank the expansion, but neither party has been responsible lowering our debt/gnp ratio the past four years or so. And ironically it was Mulvaneny and his shit for brains freedom caucus that torpedoed any effort to cut entitlements because it involved tax increases too

Yep, and now the orange ass clown is proposing $1.7 trillion in cuts to Medicare, Social Security, and Medicaid in his 4 year budget proposal.

I thought those $1.5 trillion tax cuts for the filthy rich were supposed to pay for themselve's?

The fortunate thing about that tax scam is it was passed by reconciliation, and can die just as easily. Which will happen.

 

[debbiedowner]

Mick Mulvaney loves him some deficit, when it comes with corporate tax cuts.


Once upon a time, Republicans said that deficits and a balanced budget were the most important things in the world. But that was when the president was a black man and they had to come up with some justification for trying to block his every move other than racism. So they called it fiscal responsibility. Now that he's gone and one of their own is occupying the oval office, fiscal responsibility is out the window and they're okay with that and the recession it could bring. Because they got their tax cuts.

The U.S. will post a larger budget deficit this year and could see a "spike" in interest rates as a result, but lower deficits are possible over time based on sustained economic growth from Donald Trump's tax cuts, said Budget Director Mick Mulvaney.
Mulvaney spoke on "Fox News Sunday," a day before the White House is expected to release 2019 spending proposals—and after weeks in which financial markets have been spooked by prospects for rising inflation tied to higher deficits and lower taxes.

"This is not a fiscal stimulus; it's not a sugar high," Mulvaney said on of the president's economic program, including the $1.5 trillion tax cut passed in late 2017.

"If we can keep the economy humming and generate more money for you and me and for everybody else, then government takes in more money and that’s how we hope to be able to keep the debt under control," Mulvaney said.

There's not a self-respecting economist out there who sees economic growth coming out of those tax cuts. A Morgan Stanley analysis forecasts that just 13 percent of the tax cuts to corporations will trickle down to employees in the form of bonuses, raises and employee benefits. That's opposed to 43 percent which "will end up in the hands of investors in the form of stock buybacks and dividends."

The administration's updated budget proposals, to be released this week, reinforces the screw-the-99 percent ethos that drove that tax cuts bill. It would balloon the defense budget and spend billions on "border security" and slash the programs that help people, particularly Medicaid and food assistance.

So spiking interest rates, cuts to domestic spending programs, and a ballooning deficit that will give Republicans the excuse to make even deeper domestic spending cuts. That's the Republican dream.

Ballooning deficits? Spiking interest rates? It's the Republican way

Yep, we should probably be deep in the shithole come this time next year. But Repubtards know it all.

 

[LaDexter]

and now the orange ass clown is proposing $1.7 trillion in cuts to Medicare, Social Security, and Medicaid in his 4 year budget proposal.

At least he is trying to cut something.

"His" Party is not...

Meanwhile....


Funny, you are exactly the type of "American" who won't care about the US debt until your government check is affected....