Deficit Increased by $7B under Trump, But now the GOP tries to claim fiscal Responsibility????

[jc456]

LOL! Still funny.

She doesn't think over spending creates debt.

 

[Lesh]

The Platts Benchmark has been manipulated for years to keep oil at a false high price.

The inflation we are seeing is caused by price manipulation. A big part

And they owe money because they lifted the debt ceiling

False. Lifting the debt ceiling is nothing more than writing the check to cover previous purchases.

 

[Lesh]

how? Spending is what causes debt. You're far too naïve to understand one can't spend what one doesn't have. you're a demofk.

God you people are stubbornly stupid.

Tax cuts REDUCE REVENUES. That increases debt

It's like an hourly worker deciding to cut back his hours and then not understanding why he doesn't have as much money as he used to.

 

[Lesh]

one can't spend what one doesn't have.

Really?

Ever by a house or a new car?

Stupid fuck

 

[Lesh]

how does raising the debt ceiling correct that?

it doesn't "correct" anything. It allows the government to pay it's existing bills.

 

[Toddsterpatriot]

She doesn't think over spending creates debt.

She thinks you need a higher limit on your credit cards to pay your mortgage.

 

[Lesh]

She thinks you need a higher limit on your credit cards to pay your mortgage.

A. She is a he.

B. How does the government GET money asshole?

Two ways. Taxation and borrowing. Since we run a deficit economy taxation doesn't cover all our debts. Never does. The Government borrows to make up the difference. That's how we end up with a deficit and a debt.

We have a debt ceiling on how much we can borrow (credit limit if you will). If we increase our debt obligation beyond that ceiling...yes...it has to be raised.

We do it all the time. It's routine and unavoidable and frankly unexceptional. We already HAVE that "mortgage obligation". Raising the debt ceiling simply allows the added borrowing to cover it.

In this case that "mortgage obligation" includes the 7 trillion Trump added to the debt.

 

[Papageorgio]

I wish on of these parties were fiscally responsible but as we have seen, that isn't going to happen anytime soon. I hope moderate Democrats stand up to the far left Democrats and put a halt to the stupidity.

 

[Lesh]

I wish on of these parties were fiscally responsible but as we have seen, that isn't going to happen anytime soon. I hope moderate Democrats stand up to the far left Democrats and put a halt to the stupidity.

Just like in 2009...those "moderate Dems" are standing in the way of Recovery

 

[Eric Arthur Blair]

Why? Because you've been told not to believe it?

They have done it before.

Then let's see Nancy and Chuck do it again! Stop the misdirection.

 

[Eric Arthur Blair]

Bullshit.

We bring in something close to $33 Billion per month. Servicing the debt cost about $4 billion per month.

SS, Vets, Military are all mandatory expenditures that are well covered.

Biden lied his ass off today.

Joe lies everyday!

 

[Harpy Eagle]

Oh, I’m keeping up just fine. Trump is no longer President. So, we must look at the here and now. The Biden administration has proposed $6 Trillion in new spending in his first 100 days. And with this infrastructure and social spending on the table now, that raises it to $11.5 Trillion in his first year.

That dwarfs Trump spending, and is reckless…

First off, the 11.5 is over 10 years, not all this year, just to keep the facts straight.

And yes it is a shit ton and is a problem, but it is not THE problem.

The next guy that from the Rs or Ds that gets elected will dwarf Biden.

Until we break that chain we might as well sit back and enjoy the time we have left as a country.

 

[Nostra]

7 billion??

Try 8 billion.

That comes to roughly $166,187,500 per month under Trump.

So far under Biden, it's one up roughly $60,744,298 per month.

What a crock of shit. Biden sent out $1.9 TRILLION in stimulus checks alone back in March. That is roughly $211 BILLION per month added to the debt.

That is over and above all the other deficit spending.

You are a moron and a liar, Fawnboi.

 

[Lesh]

Then let's see Nancy and Chuck do it again! Stop the misdirection.

They would have already done so if REPUBLICANS (responsible for the bulk of the recent debt) hadn't FILIBUSTERED it

 

[Eric Arthur Blair]

God you people are stubbornly stupid.

Tax cuts REDUCE REVENUES. That increases debt

It's like an hourly worker deciding to cut back his hours and then not understanding why he doesn't have as much money as he used to.

Tax cuts also frees up money with which to invest or purchase goods which in turn increases revenue.

You are welcome for the lesson is basic economics.

 

[Nostra]

God you people are stubbornly stupid.

Tax cuts REDUCE REVENUES. That increases debt

It's like an hourly worker deciding to cut back his hours and then not understanding why he doesn't have as much money as he used to.

Tax cuts REDUCE REVENUES. That increases debt

Show us the year revenues decreased after Trump's tax cut, or any major tax cut. Hell, even when the pandemic hit revenues where higher than the year before.

 

[Harpy Eagle]

But wait…Didn’t Joe just yesterday try to say that raising the debt ceiling was to pay for past spending?

Yes, just like the "guy who governed like a conservative" did 3 times.

 

[Lesh]

Tax cuts REDUCE REVENUES. That increases debt

Show us the year revenues decreased after Trump's tax cut, or any major tax cut. Hell, even when the pandemic hit revenues where higher than the year before.

Do tax cuts pay for themselves?

Tax rates and revenues Economic activity generally responds to tax changes. If you increase the tax on cigarettes, people will smoke less and some will...

www.taxpolicycenter.org

Tax cuts do not pay for themselves. They increase revenues SOMEWHAT...but never enough to pay for themselves. The DIFFERENCE goes on the debt.

From the attached link

A.
At current tax rates, the direct revenue loss from cutting tax rates almost always exceeds the indirect gain from increased activity or reduced tax avoidance. Cutting tax rates can, however, partly pay for itself. How much depends on how people respond to tax changes.

 

[Mac-7]

GW Bush inherited a balanced budget and projected surplus..
The GOP Congress spent like CRAZY and completely wasted and squandered that balanced budget. (then they crashed the economy 7 years later)

In 2016, Obama's last year, the US annual deficit was at $587 B a year.
In 2020 the US deficit was projected to be $1.1 T, precovid (it came in at $3T)

Trump and the GOP doubled the yearly budget deficit in just 3 years, AND they never had 3% GDP annually.

Now these trash republican try and claim to be the fiscally responsible ones even though the GOP has destroyed the countries finances. The GOP refuses to do the right thing and fund our government to keep the economy booming under Biden. The GOP has raised the debt ceiling countless times for themselves, but never for anybody else. the GOP is playing games with our economy. The economy is booming and the GOP are jealous because they such at the economy.

This is just another example of the joke and failure of the GOP. The GOP has destroyed our finances, and they won't work with the dems to help our country. The GOP doesn't care about our country at all, they care about the GOP. Party over country. Why else would the GOP spend so recklessly for so long???

Everything posted here is 100% fact, I know you hate it, I know you people are squirming and crying right now, but the truth can be a tough pill for Trumpers to swallow. You hate the truth. You hate my facts. Facts are kryptonite to a Trumper.

Fiscal Data Explains the National Deficit

Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit

datalab.usaspending.gov

So, what do you think you have accomplished beyond telling us what we already know about the corrupt swamp rats in washington which includes republicans?

Whats your point?

 

[Nostra]

Do tax cuts pay for themselves?

Tax rates and revenues Economic activity generally responds to tax changes. If you increase the tax on cigarettes, people will smoke less and some will...

www.taxpolicycenter.org

Tax cuts do not pay for themselves. They increase revenues SOMEWHAT...but never enough to pay for themselves

That wasn't your claim. You said they reduce revenues. That's a lie.

And to say a tax must "pay for themselves" assumes all money belongs to the government. It doesn't.