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

[Cellblock2429]

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 tax cut as supposed to pay for itself. More than pay for itself.

The GOP.....they weren't bullshitting us, were they?

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

 

[rightwinger]

Deficits don't matter

Unless a Democrat is President

What ever happened to the Tea Party?

 

[leftwinger]

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

It means building the wall and stopping people from shit holes coming in. WTF do you think it means?

We don't need a wall. In fact, the wall won't work.

Want to stop the flood of immigrants? Start busting businesses that use illegal immigrant labor. Problem solved. Don't let them use social service except in emergencies.

But that would mean attacking the businesses that have kept the flood of immigrants coming.

Good idea. Why did the DemWitted sapsuckers not work on stopping Illegal employment over the last 8 years? Too busy bussing dreamers up to Nebraska?

 

[Harpy Eagle]

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

It means building the wall and stopping people from shit holes coming in. WTF do you think it means?

We don't need a wall. In fact, the wall won't work.

Want to stop the flood of immigrants? Start busting businesses that use illegal immigrant labor. Problem solved. Don't let them use social service except in emergencies.

But that would mean attacking the businesses that have kept the flood of immigrants coming.

Good idea. Why did the DemWitted sapsuckers not work on stopping Illegal employment over the last 8 years? Too busy bussing dreamers up to Nebraska?

Nobody has worked to stop Illegal employment over the last 48 years, why do you only care about the last 8?

 

[Harpy Eagle]

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

eventually someone will have to pay for all the shit we are putting on credit right now, to include the loss of revenue from tax cuts.

 

[iceberg]

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.

This is why the debt has jumped?? But..we have done nothing yet to rebuild..that is still in the future!

Blaming this on your favorite whipping boy is not going to work here. BTW...Obama did not 'Decimate' the military. His administration did spend less..they also did less. There was a draw-down from post-9/11 levels--not quite the same thing at all.

You just wish to ignore that reduced revenues are going to result in even more borrowing....and the result may well be a recession.

while you ignore obama printing money like it was going out of style?

funny you get onto people for the blame game but obama blamed bush for at least his first 4 years.

 

[Meathead]

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

eventually someone will have to pay for all the shit we are putting on credit right now, to include the loss of revenue from tax cuts.

Stopping America from becoming a total shit hole will have it's price. We managed a lot of debt under Obama while the country was turning in a shit hole. At least we'll get some bang for the buck now.

 

[bendog]

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.

This is why the debt has jumped?? But..we have done nothing yet to rebuild..that is still in the future!

Blaming this on your favorite whipping boy is not going to work here. BTW...Obama did not 'Decimate' the military. His administration did spend less..they also did less. There was a draw-down from post-9/11 levels--not quite the same thing at all.

You just wish to ignore that reduced revenues are going to result in even more borrowing....and the result may well be a recession.

while you ignore obama printing money like it was going out of style?

funny you get onto people for the blame game but obama blamed bush for at least his first 4 years.

why is Trump borrowing more money than Obama did last year? (saying we're printing money is stupid. That's not the way the money supply and deficits work)

 

[Harpy Eagle]

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

eventually someone will have to pay for all the shit we are putting on credit right now, to include the loss of revenue from tax cuts.

Stopping America from becoming a total shit hole will have it's price. We managed a lot of debt under Obama while the country was turning in a shit hole. At least we'll get some bang for the buck now.

In other words...debt matters when there is a Dem in the White House and debt does not matter when there is a Repub in the White House.

Also, why do you hate America and say we are a shit hole? Why do you not have some pride and patriotism in your country?

Are you a closet communist?

 

[Meathead]

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

eventually someone will have to pay for all the shit we are putting on credit right now, to include the loss of revenue from tax cuts.

Stopping America from becoming a total shit hole will have it's price. We managed a lot of debt under Obama while the country was turning in a shit hole. At least we'll get some bang for the buck now.

In other words...debt matters when there is a Dem in the White House and debt does not matter when there is a Repub in the White House.

Also, why do you hate America and say we are a shit hole? Why do you not have some pride and patriotism in your country?

Are you a closet communist?

Look, obviously you want to hand down a shit hole to your descendants. I get that. But most of us don't.

 

[BluesLegend]

Trump inherited deficit from Obama.

 

[Harpy Eagle]

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

eventually someone will have to pay for all the shit we are putting on credit right now, to include the loss of revenue from tax cuts.

Stopping America from becoming a total shit hole will have it's price. We managed a lot of debt under Obama while the country was turning in a shit hole. At least we'll get some bang for the buck now.

In other words...debt matters when there is a Dem in the White House and debt does not matter when there is a Repub in the White House.

Also, why do you hate America and say we are a shit hole? Why do you not have some pride and patriotism in your country?

Are you a closet communist?

Look, obviously you want to hand down a shit hole to your descendants. I get that. But most of us don't.

actually, it is you that wants to hand down massive debt to our descendants, in fact you seem to be cheering on the increase in the debt our descendants will get to deal with.

Why do you not give a shit about making our descendants pay for your good times? Do you care about anything other than yourself?

 

[Harpy Eagle]

Trump inherited deficit from Obama.

And then proceeded to make the deficit larger than it had been in 4 years. Trump wants to outdo Obama in everything, including adding to the debt. Maybe Trump will shot for Reagan's record of almost tripling the debt.

 

[AntonToo]

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

eventually someone will have to pay for all the shit we are putting on credit right now, to include the loss of revenue from tax cuts.

Stopping America from becoming a total shit hole will have it's price. We managed a lot of debt under Obama while the country was turning in a shit hole. At least we'll get some bang for the buck now.

In other words...debt matters when there is a Dem in the White House and debt does not matter when there is a Repub in the White House.

Also, why do you hate America and say we are a shit hole? Why do you not have some pride and patriotism in your country?

Are you a closet communist?

Look, obviously you want to hand down a shit hole to your descendants. I get that. But most of us don't.

You say that....but then you turn right around and support blowing a 1.5 Trillion hole in the budget to mostly finance a windfall for corporations and pass through business like Trump organization in the middle of a period economic growth.

And if you think that this 1.5 trillion is not going to be a burden for your descendants to carry you need to THINK AGAIN.

 

[Meathead]

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

eventually someone will have to pay for all the shit we are putting on credit right now, to include the loss of revenue from tax cuts.

Stopping America from becoming a total shit hole will have it's price. We managed a lot of debt under Obama while the country was turning in a shit hole. At least we'll get some bang for the buck now.

In other words...debt matters when there is a Dem in the White House and debt does not matter when there is a Repub in the White House.

Also, why do you hate America and say we are a shit hole? Why do you not have some pride and patriotism in your country?

Are you a closet communist?

Look, obviously you want to hand down a shit hole to your descendants. I get that. But most of us don't.

actually, it is you that wants to hand down massive debt to our descendants, in fact you seem to be cheering on the increase in the debt our descendants will get to deal with.

Why do you not give a shit about making our descendants pay for your good times? Do you care about anything other than yourself?

Indeed I do. That is why I don't want the next generations of Americans to inherit a shit hole.

 

[iceberg]

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.

This is why the debt has jumped?? But..we have done nothing yet to rebuild..that is still in the future!

Blaming this on your favorite whipping boy is not going to work here. BTW...Obama did not 'Decimate' the military. His administration did spend less..they also did less. There was a draw-down from post-9/11 levels--not quite the same thing at all.

You just wish to ignore that reduced revenues are going to result in even more borrowing....and the result may well be a recession.

while you ignore obama printing money like it was going out of style?

funny you get onto people for the blame game but obama blamed bush for at least his first 4 years.

why is Trump borrowing more money than Obama did last year? (saying we're printing money is stupid. That's not the way the money supply and deficits work)

no but it is an accepted term in this sense.

and dunno. ask trump.

 

[BluesLegend]

Trump inherited deficit from Obama.

And then proceeded to make the deficit larger than it had been in 4 years. Trump wants to outdo Obama in everything, including adding to the debt. Maybe Trump will shot for Reagan's record of almost tripling the debt.

No its ALL Obama's deficit. You people blamed Bush for Obama's deficits, how does it feel to get a taste of your own medicine.

 

[AntonToo]

Trump inherited deficit from Obama.

And then proceeded to make the deficit larger than it had been in 4 years. Trump wants to outdo Obama in everything, including adding to the debt. Maybe Trump will shot for Reagan's record of almost tripling the debt.

No its ALL Obama's deficit. You people blamed Bush for Obama's deficits, how does it feel to get a taste of your own medicine.

What did Obama spend it on?

This is the part where you put your tail between your legs and run off. Seen this play out too many times.

I on the other hand can tell you exactly what Trump blew 400 billion on this year - ANOTHER ROUND OF TAX CUTS ON CREDIT.

 

[Harpy Eagle]

Trump inherited deficit from Obama.

And then proceeded to make the deficit larger than it had been in 4 years. Trump wants to outdo Obama in everything, including adding to the debt. Maybe Trump will shot for Reagan's record of almost tripling the debt.

No its ALL Obama's deficit. You people blamed Bush for Obama's deficits, how does it feel to get a taste of your own medicine.

I don't have a "people" and I never blamed Bush for Obama's deficits as I never blamed Obama for them or Trump for them.

The POTUS does not have the power to spend money, it is a group effort.

To blame the president alone is a stupid partisan thing to do...which is why so many of you and your people do it. But truth and honesty do not matter, all that matters is winning points on an internet forum.

 

[Skylar]

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 tax cut as supposed to pay for itself. More than pay for itself.

The GOP.....they weren't bullshitting us, were they?

/----/ You don't have to pay to let people keep more of their own money. Stop drinking th democRAT Kool Aid.

Actually, I was quoting the GOP. They're the one's the said that the tax cuts would pay for themselves.

From your post it seems that we've abandoned all pretense that their fiction was ever true.