1.09 trillion bucks

Discussion in 'The Water Cooler' started by Crazyhole, Jul 16, 2019.

  1. Crazyhole

    Crazyhole Golden Knight
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    That's what Mnuchin is projecting this year's deficit will be. #winning?
     
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  2. UCFWayne

    UCFWayne Diamond Knight
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    no dems or reps want to actually reduce spending. :(
     
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  3. Husk in butt

    Husk in butt Bronze Knight
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    That is unacceptable
     
  4. chemmie

    chemmie Todd's Tiki Bar
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    Can't blame this one on Obummer.
     
  5. Husk in butt

    Husk in butt Bronze Knight
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    Blame is in the last 20 years which is both parties. Neither party seem to want to deal with it.
     
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  6. DaShuckster

    DaShuckster Silver Knight
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    Damn. When is Trump's big tax cut gonna kick in???!?!?
     
  7. NinjaKnight

    NinjaKnight Todd's Tiki Bar
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    This is of course another blatant lie by you. Clinton had a balanced budget.
     
  8. Crazyhole

    Crazyhole Golden Knight
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    I don't know how far back it really goes, but both Clinton and Bush had balanced budgets for a while. It really started to get out of control after 9/11 but things seemed to be headed back in the right direction for a couple of years before the housing collapse. I honestly wouldn't even be that upset right now if we were still going 400-500 billion in the red because we would at least be looking at increased revenues in the next few years but this is ridiculous. Since 2003 we have only had 2 years where revenue went down from the previous year. This year we will bring in over 100 billion dollars more than we did last year. It just doesn't make sense that we can't curb spending somewhere so that we at least don't get worse every year.
     
  9. sk8knight

    sk8knight Golden Knight
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    It doesn't help when you've got Modern Monetary Theory economists in the ear of all of the politicians.
     
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  10. DaShuckster

    DaShuckster Silver Knight
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    Yeah, you'd think cutting the amount of revenue the Federal Government brings in (you know, taxes) wouldn't cause stuff like this to happen!!!
     
  11. Crazyhole

    Crazyhole Golden Knight
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    We didn't cut revenue. It went up by 100 billion dollars.
     
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  12. DaShuckster

    DaShuckster Silver Knight
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    We cut the increase. Same thing.
     
  13. Crazyhole

    Crazyhole Golden Knight
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    Even if we went back to the later Obama years where we were increasing by 200 billion a year, we would still be adding 900 billion in debt every year. If you can come up with a plan on how to increase revenue by 900 billion I'm all ears.
     
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  14. DaShuckster

    DaShuckster Silver Knight
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    I've always understood that balancing the budget depends on estimated taxes matching estimated expenses. You want to rail against spending (justifiably, I might add) while ignoring the fact that Trump and the Republicans CUT TAXES on the wealthiest 1 percent.

    It's hard to wring our hands about the increasing Federal debt when our "fiscally conservative" lawmakers deliberately voted to increase that annual Federal debt.
     
  15. sk8knight

    sk8knight Golden Knight
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    They cut taxes on everybody. Stop acting like it is just the 1 percent. Also, even you took all of the top 1 percent's income every year, you wouldn't make a dent in the deficit. It's not a revenue problem. So stop playing the wealth envy card.
     
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  16. DaShuckster

    DaShuckster Silver Knight
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    I'm playing the wealth responsibility card.

    Folks here like to wail about the percentage of low-income Americans who don't pay enough (or any) income taxes. But shouldn't that concern include wealthy corporations and individuals who 'play the tax-avoidance' game'? Or is that concern too "envious" to be legitimate?
     
  17. UCFBS

    UCFBS Diamond Knight
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    Clinton actually didn't, despite the Republicans saying they helped. It's actually a charade, long story. Surpluses still get spent.

    Although Clinton had a massive deficit planned for '95, because the tax increases only boosted revenue for 1 year. Clinton predicted the debt would reach $7T by 2000. That's how the Republicans won Congress in '94.

    Also, the small surplus in 2000 hid the fact that we had 2 quarters of negative growth and deficits. It was really Q1 that boosted things. That's why W. walked into a recession before he was even in a quarter.

    Over $10T in value was wiped off of Wall Street in 2000, which is why it was already 'out-of-hand' by 2000 October, and 'officially' a recession 2001 March.

    People forget Wall Street benefited from the 401k ramp-up in the '90s, and that led to a lot of investments in all sorts of companies producing nothing. That came to roost by mid 2000.

    The spending ramped up in 2002+ because W. got many votes for pork. The cost of the wars wasn't the only cost, but the pork for the votes more than doubled it.
     
  18. UCFBS

    UCFBS Diamond Knight
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    Actually, in high income tax states, the top 3-5% may pay more federal taxes.
     
  19. Crazyhole

    Crazyhole Golden Knight
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    Corporations shouldn't pay any taxes but they also shouldn't get subsidies. Their earnings go to investors who pay taxes on that income. You can double tax that the most profitable entities make but until the lower 50% of wage earners actually do pay taxes we will never balance the budget with spending increases like we have.
     
  20. sk8knight

    sk8knight Golden Knight
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    The top 1% pays more than 37% of taxes and pays more than the entire bottom 90%.

    Tell me, oh centralized planner, when have they paid enough?
     
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  21. beelit47

    beelit47 Five-Star Recruit
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    Remember that year obama passed a budget? Me neither
     
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  22. beelit47

    beelit47 Five-Star Recruit
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    Id be interested to know how much shookster pays in taxes. Im guessing he is in that 10% bracket but still likes to lecture us on how much to pay
     
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  23. DaShuckster

    DaShuckster Silver Knight
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    You caught me! I live under a bridge and pay zero federal taxes. Fortunately my laptop is paid for and I get free internet off the nearby IHOP.
    Here's a wild thought: When we can live with a budget that is balanced and, ideally, is starting to pay down our Federal debt.
    Yeah, it's all those fiscally conservative Republicans could talk about for eight years. Then what happened?
     
  24. sk8knight

    sk8knight Golden Knight
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    Like I said, you can take all of their income and all of their wealth and you won’t balance the budget. The only way that is going to happen is to cut spending. Period.

    You didn’t address this point before. You just repeated your wealth envy point again. You’re not for solutions, you’re just for sticking it to people that have more than you. We don’t get better as a whole by dragging high achievers down.
     
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  25. YourWifesBoyfriend

    YourWifesBoyfriend Four-Star Recruit
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    actually the rapist Clinton just happened to be President during the internet boom. i'm assuming you had yet to be consummated in the Denny's bathroom at that time
     
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  26. Husk in butt

    Husk in butt Bronze Knight
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    My guess was waffle house...;)
     
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  27. Husk in butt

    Husk in butt Bronze Knight
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    We need to reduce the % of spending increases every year. Cut some overlapping govt departments. Add more automation in government to reduce head counts. Reduce government benefits to be inline with the private sector. Increase taxes on some that pay nothing. Get more people off public assistance and into the workforce. Drop stupid programs like free phones and anything else that is non life essential.
     
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  28. Ucfmikes

    Ucfmikes Golden Knight
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    It already has. Want a ride in it?

    [cheers]
     
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  29. Ucfmikes

    Ucfmikes Golden Knight
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    :joy:
     
  30. DaShuckster

    DaShuckster Silver Knight
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    I'm on record in numerous threads as saying we need to address the Federal budget deficit---which most certainly will require budget cuts.

    But after RAILING and RAILING and RAILING about the deficit throughout the Obama years, those fiscally-conservative Republicans suddenly got super-quiet once Trump took office. Instead of a focused plan to address the Federal budget, this Republican Administration has green-lighted EVEN MORE SPENDING for crying out loud!!!

    So Puh--LEEZ spare me any song and dance about those "Fiscally Conservative" Republicans. The only difference between the two major parties when it comes to Government Spending is what they like to spend our money on.
     
  31. YourWifesBoyfriend

    YourWifesBoyfriend Four-Star Recruit
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    he's so dead set on opposing Trump I wouldn't put it past him to be upset if he did benefit from it
     
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  32. sk8knight

    sk8knight Golden Knight
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    Let me ask you something. Would you be happy if Trump pushed an initiative with the budget similar to regulations where you’d have to cut two programs for every one you added. Or $2 for every $1?

    What are the chances that the House would take up such a budget?
     
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  33. UCFKnight85

    UCFKnight85 GOL's Inner Circle
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    lol just a reminder for the dumbshits insisting that Obama "reigned in spending" and blaming Republicans for everything - spending only slowed under Obama because of a GOP congress. This isn't even disputable, just go back to 2010 and start reading.

    Congress passes budgets and sets spending. This is a concept that seems so goddamn hard for lefties on her to understand but it's true, and it's law. We don't have Kings or Emperors here.
     
  34. UCFWayne

    UCFWayne Diamond Knight
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    this is an actual solution to the problem.
     
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  35. Crazyhole

    Crazyhole Golden Knight
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    The funny thing is, it isn't even modern. They are essentially just a fiat version of the Free Silver advocates of the 1890s.
     
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  36. DaShuckster

    DaShuckster Silver Knight
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    Hypotheticals in this case are bullshit because NEITHER party is showing ANY interest whatsoever in developing a balanced budget, let alone actually cut the Federal deficit. So if you want to play games and act like this is all on 'those dems', be my guest. But there is absolutely no defense of the Republicans in Congress or the White House when it comes to the deficit either.
     

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