The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

[Meathead]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

Still much lower that 2009 - 2012 when we had a community organizer as president, and for all that it did squat for the economy.

 

[WinterBorn]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

But the memo!!!!!!!!!!!!! That is all that matters....

Exactly!!! All these other things that keep the masses distracted and we are trillions of dollars in debt!

The Wall, the memo, Benghazi, trans bathrooms, BLM, corrupt FBI, the Russions, kneeling athletes, and all those other "scandalous" issues are nothing but distractions.

Neither party is doing anything about the mounting debt. Hell, neither cares.

 

[EvilEyeFleegle]

If republicans are going to cut social programs then damn it pay off the debt!

Nope..will never happen. You see, each party hates the other party's debt..but they love to spend on their pet programs. Neither cares about how much money is being spent...just what it is being spent on.

From the same article:

"The White House got a taste of just how problematic this debt situation could get this week. Investors are concerned about all the additional borrowing and the likelihood of higher inflation, which is why the interest rates on U.S. government bonds hit the highest level since 2014. That, in turn, partly drove the worst weekly sell-off in the stock market in two years.


The belief in Washington and on Wall Street has long been that the U.S. government could just keep issuing debt because people around the world are eager to buy up this safe-haven asset. But there may be a limit to how much the market wants, especially if inflation starts rising and investors prefer to ditch bonds for higher-returning stocks.


“Some of my Wall Street clients are starting to talk recession in 2019 because of these issues. Fiscal policy is just out of control,” says Peter Davis, a former tax economist in Congress who now runs Davis Capital Investment Ideas.


The Federal Reserve was also buying a lot of U.S. Treasury debt since the crisis, helping to beef up demand. But the Fed recently decided to stop doing that now that the economy has improved. It's another wrinkle as Treasury has to look for new buyers.


Trump's Treasury forecasts borrowing over $1 trillion in 2019 and over $1.1 trillion in 2020. Before taking office, Trump described himself as the “king of debt,” although he campaigned on reducing the national debt.


The Committee for a Responsible Federal Budget predicts the U.S. deficit will hit $1 trillion by 2019 and stay there for a while. The latest borrowing figure — $955 billion — released this week was determined from a survey of bond market participants, who tend to be even faster to react to the changing policy landscape and change their forecasts."

 

[Harpy Eagle]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

Still much lower that 2009 - 2012 when we had a community organizer as president, and for all that it did squat for the economy.

2009-2012 we were in the end of a recession and the beginning of a recovery. Right now we are riding on one of the longest periods of expansion in our history, and the debt is still growing.

And it is growing because of people like you that give their fucking party a pass and just make excuses.

you fucking zealots are going to be what brings down this country.

 

[DrLove]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

/----/ After Obozo decimated the military, Trump has to rebuild it. Same thing happened to Reagan and GWB.

What a ridiculous lie.

Yep - Obama hasn't "decimated the military" - Just a simplistic red meat talking point for Trumplings.
Here are a couple of fair and balanced analyses:

PolitiFact Sheet: Military spending under Obama and Congress
Fact Check: Has President Obama 'Depleted' The Military?

 

[EvilEyeFleegle]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

Still much lower that 2009 - 2012 when we had a community organizer as president, and for all that it did squat for the economy.

Only pulled us out of the worst Recession in our time...LoL! Oh..Obama doesn't get credit for that, I forgot---Hmmm....what's the employment now in US? Ooops..my bad..all Trump, right? I'm not an Obama fan, far from it, in fact. But he had shit to work with in 2009---so money got thrown at the issue. How odd..it appears that the amount of borrowing went down..until...well, until now!

 

[HereWeGoAgain]

How is it possible to have an 84% increase when barry racked up eight trillion over eight years....which of course averages out to one trillion a year?
Or am I missing something?

 

[del]

/----/ You Libtards keep downplaying the memo, but time will tell.

teh memo! teh memo!! teh memo!!!

lol

 

[EvilEyeFleegle]

How is it possible to have an 84% increase when barry racked up eight trillion over eight years....which of course averages out to one trillion a year?
Or am I missing something?

Uh...yeah...missing something, I think. The stat was an 84% increase in borrowing from last fiscal year, not anything about averages at all.

This is not about Obama.

 

[Meathead]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

Still much lower that 2009 - 2012 when we had a community organizer as president, and for all that it did squat for the economy.

2009-2012 we were in the end of a recession and the beginning of a recovery. Right now we are riding on one of the longest periods of expansion in our history, and the debt is still growing.

And it is growing because of people like you that give their fucking party a pass and just make excuses.

you fucking zealots are going to be what brings down this country.

It is people like Trump who want to stoo this country from becoming a shit hole which our kids and grandkids will have to live in. If building a wall and creating private-sector jobs adds to the debt, so be it. Wasting money and redistrubting wealth was Obama's solution. Now we will at least get something for our money.

 

[WinterBorn]

And when did "conservative" come to mean being ok with rampant overspending and huge debts?

Sad.

 

[del]

How is it possible to have an 84% increase when barry racked up eight trillion over eight years....which of course averages out to one trillion a year?
Or am I missing something?

you're missing something

maybe one of your fellow expert economist cons can explain the difference between the debt and the deficit to you

not that you'll understand

 

[HereWeGoAgain]

How is it possible to have an 84% increase when barry racked up eight trillion over eight years....which of course averages out to one trillion a year?
Or am I missing something?

Uh...yeah...missing something, I think. The stat was an 84% increase in borrowing from last fiscal year, not anything about averages at all.

This is not about Obama.

What difference does it make if in the end it amounts to the same thing?

 

[EvilEyeFleegle]

Analysis | The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year

Recession in 2019? It only makes sense that the man who made his fortune with other people's money is still all about borrowing:

"It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.


Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.
The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again."

Still much lower that 2009 - 2012 when we had a community organizer as president, and for all that it did squat for the economy.

2009-2012 we were in the end of a recession and the beginning of a recovery. Right now we are riding on one of the longest periods of expansion in our history, and the debt is still growing.

And it is growing because of people like you that give their fucking party a pass and just make excuses.

you fucking zealots are going to be what brings down this country.

It is people like Trump who want to stoo this country from becoming a shit hole which our kids and grandkids will have to live in. If building a wall and creating private-sector jobs adds to the debt, so be it. Wasting money and redistrubting wealth was Obama's solution. Now we will at least get something for our money.

Well....when the wall fails to pan out...and the coming recession takes away private sector jobs---will your lips finally depart Trump's buttocks?

 

[HereWeGoAgain]

How is it possible to have an 84% increase when barry racked up eight trillion over eight years....which of course averages out to one trillion a year?
Or am I missing something?

you're missing something

maybe one of your fellow expert economist cons can explain the difference between the debt and the deficit to you

not that you'll understand

Aaah..misread it.

 

[del]

It is people like Trump who want to stoo this country from becoming a shit hole which our kids and grandkids will have to live in. If building a wall and creating private-sector jobs adds to the debt, so be it. Wasting money and redistrubting wealth was Obama's solution. Now we will at least get something for our money.

i think we all want to stoo this country from becoming a shithole.

whatever that means

 

[NYcarbineer]

The reason for the increased borrowing has already been determined.

It's because the tax cut bill has created a massive reduction in tax revenues...as some of us tried to point out to you was going to happen.

 

[NotfooledbyW]

Cellblock2429, post: 1921488

/----/ After Obozo decimated the military, Trump has to rebuild it. Same thing happened to Reagan and GWB.

That was quick. We've heard from the Trumpo FR fake reality Choir and Trumpo himself that Trumpo has already defeated ISIS and is winning in Afghanistan and is ready to Nuke the crap out of Iran and NC.

Now you claim Trumpo has already done all that with a decimated military.

You have gone Trumpo berserk bonkers.

Do you know that the extra Trillion in debt went to the military about one year ago and Trumpo used that extra money to build up the military in one month so he could win all those military victories he brags about?

Or did you create a new fake reality on the fly?

 

[EvilEyeFleegle]

How is it possible to have an 84% increase when barry racked up eight trillion over eight years....which of course averages out to one trillion a year?
Or am I missing something?

Uh...yeah...missing something, I think. The stat was an 84% increase in borrowing from last fiscal year, not anything about averages at all.

This is not about Obama.

What difference does it make if in the end it amounts to the same thing?

*ouch* not your subject, I think. It does not amount to the same thing...at all.

 

[HereWeGoAgain]

How is it possible to have an 84% increase when barry racked up eight trillion over eight years....which of course averages out to one trillion a year?
Or am I missing something?

Uh...yeah...missing something, I think. The stat was an 84% increase in borrowing from last fiscal year, not anything about averages at all.

This is not about Obama.

What difference does it make if in the end it amounts to the same thing?

*ouch* not your subject, I think. It does not amount to the same thing...at all.

As I already stated...misread it.