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ExpandMyMind

Trump's Budget Would Add $7.2 Trillion

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ExpandMyMind

Trump's Budget Would Add $7.2 Trillion in Federal Deficits Over 10 Years

Quote

President Donald Trump unveiled a $4.4 trillion budget for next year that heralds an era of $1 trillion-plus federal deficits and — unlike the plan he released last year — never comes close to promising a balanced ledger even after 10 years.

http://time.com/5146313/donald-trump-budget-plan/

Maybe he thinks that once countries and institutions stop lending you money you can just go and ask Russia. Like Trump.

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Likely Guy

I thought that he was a "Republican" and, as near as I remember, they were traditionally fiscally conservative.

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Michelle
2 minutes ago, Likely Guy said:

I thought that he was a "Republican" and, as near as I remember, they were traditionally fiscally conservative.

He ran as a Republican but most of his years he supported the Democrats. They loved to rub people's noses in it until he won.

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Likely Guy
2 minutes ago, Michelle said:

He ran as a Republican but most of his years he supported the Democrats. They loved to rub people's noses in it until he won.

Be that as it it may, he's going to break your country building useless walls and paying for grand parades.

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Michelle
1 minute ago, Likely Guy said:

Be that as it it may, he's going to break your country building useless walls and paying for grand parades.

Thankfully, what Trump wants is not the be all and end all of it.

I fully expect to be called a Trumpster any minute for not getting rabidly angry at his every proposal.  ;)

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Likely Guy
1 minute ago, Michelle said:

Thankfully, what Trump wants is not the be all and end all of it.

I fully expect to be called a Trumpster any minute for not getting rabidly angry at his every proposal.  ;)

Trumpster. :rolleyes:

Sorry, I just had to.

 

 

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ExpandMyMind

The Tea Party guys are reportedly not happy about this at all, for what it's worth. Will probably still pass.

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ExpandMyMind
19 minutes ago, Michelle said:

He ran as a Republican but most of his years he supported the Democrats. They loved to rub people's noses in it until he won.

He might have supported them, but nothing I've seen from him suggests he was ever liberal.

It probably had more to do with sticking it to the Conservative New York elite, who have shunned him his entire life. That's probably also how the personality complex he has, that requires him to constantly boast and take credit for everything good that ever happens, developed. 

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and then
20 minutes ago, Likely Guy said:

he's going to break your country building useless walls and paying for grand parades.

National DEBT is at 20 Trillion and counting... I'd say it's too late for Trump to be the one that breaks us.  Even a simple man like myself figured that out a decade ago.  The only question now is, when the dominos fall, what kind of system will the PTB institute.

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Likely Guy
4 minutes ago, and then said:

National DEBT is at 20 Trillion and counting... I'd say it's too late for Trump to be the one that breaks us.  Even a simple man like myself figured that out a decade ago.  The only question now is, when the dominos fall, what kind of system will the PTB institute.

True, but adding a third more to it over ten years is not the way (and I'm a spend happy lefty :)).

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and then
5 minutes ago, Likely Guy said:

True, but adding a third more to it over ten years is not the way (and I'm a spend happy lefty :)).

That's assuming you actually believe the numbers presented here.  Those that score these things never take into account the increased employment and upsurge in taxpayers and capital gains from profits.  It's just another Left V Right mud fight.  You only know the real numbers in retrospect and in that case Obama literally DOUBLED the debt in 8 years.  Regardless, I really believe it's too late to change course now.  Wild ride ahead, the only question is when the flag drops.

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Gromdor

When the economy is bad, I am fine with dipping into the credit card to pay for things.  But when the economy is good, we really should be paying down our debt. 

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Likely Guy
44 minutes ago, Gromdor said:

When the economy is bad, I am fine with dipping into the credit card to pay for things.  But when the economy is good, we really should be paying down our debt. 

My addendum: "...and not buying stupid crap."

Edited by Likely Guy

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acidhead
49 minutes ago, Likely Guy said:

My addendum: "...and not buying stupid crap."

You only live once.. live life like it's your last day on Earth

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Likely Guy
1 minute ago, acidhead said:

You only live once.. live life like it's your last day on Earth

I was kinda thinking about $18 billion (or so) on the world's widest handball court.

Personally though, pay down high interest loans first. Throw everything you can at it, even handballs.

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acidhead
5 minutes ago, Likely Guy said:

I was kinda thinking about $18 billion (or so) on the world's widest handball court.

Personally though, pay down high interest loans first. Throw everything you can at it, even handballs.

Not sure what you mean by hand balls

But,

When your currency is the world's reserve currency what does it matter?

When it comes to gov all that matters is cash flow

America has the cash flow 

Anybody else, yes , like you or me personally would pay it down

Government's.. especially the USA not so much.

Bush did it Obama really did it Trump's going to do it

Does it really change anything?

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Likely Guy
30 minutes ago, acidhead said:

Does it really change anything?

No, but doing the same thing, is guaranteed to change nothing.

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preacherman76

This is disappointing. One of the big things I thought he'd do was at least try to bring down the debt. Especially as a business man. This isn't entirely on him though. He needs Dem support, and no way Dems are getting on board anything that isn't wildly irresponsible as far as spending. Maybe after 2018 they will be able to work towards cutting spending. I'm not gonna hold my breath though.

It is kinda funny seeing left publications complain about debt. It wasn't long ago they tried to convince everyone that raising the debt wasn't actually raising the debt at all. Why is that no longer the case?

 

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Gromdor
1 hour ago, preacherman76 said:

This is disappointing. One of the big things I thought he'd do was at least try to bring down the debt. Especially as a business man. This isn't entirely on him though. He needs Dem support, and no way Dems are getting on board anything that isn't wildly irresponsible as far as spending. Maybe after 2018 they will be able to work towards cutting spending. I'm not gonna hold my breath though.

It is kinda funny seeing left publications complain about debt. It wasn't long ago they tried to convince everyone that raising the debt wasn't actually raising the debt at all. Why is that no longer the case?

 

Are you talking about the debt ceiling?  That's just the limit on the credit card.

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preacherman76
29 minutes ago, Gromdor said:

Are you talking about the debt ceiling?  That's just the limit on the credit card.

When you withdraw the new limit, what's the difference? Its more debt either way you look at it.

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ExpandMyMind
1 hour ago, preacherman76 said:

When you withdraw the new limit, what's the difference? 

Generations. That's the difference.

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Merc14

 The problem with this ridiculous estimate is that the model they use treat the economy as a zero sum game where a tax cut means less revenue to the government and therefore you have increasing deficits, but this is not reality except in the mind of democrats.  Tax cuts nearly always increase revenue to the government because businesses use their new found money to expand, pay higher salaries and generate more income.  This income generates more tax revenue and you start to see surpluses rather than deficits.  Of course it is not an infinite formula, you have to balance the p[roper tax rate against the revenue that can be generated and the new tax rates are just about right. 

Democrats adamantly disagree with this theory and scream about reckless increases in the deficit, something they broke all records at doing the last 8 years with Obama adding more debt than all past presidents combined and we heard nary a word from the usual suspects who know everything about everything, it seems they are only against deficits when the republicans are in charge. 

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CeresExpo2000
20 hours ago, and then said:

National DEBT is at 20 Trillion and counting... I'd say it's too late for Trump to be the one that breaks us.  Even a simple man like myself figured that out a decade ago.  The only question now is, when the dominos fall, what kind of system will the PTB institute.

Um.....yes, however i heard that the Federal Reserve owns about $ 4 Trillion of that.

Just remember we're talking Gross Debt  to GDP ratio.

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CeresExpo2000
1 hour ago, Merc14 said:

 The problem with this ridiculous estimate is that the model they use treat the economy as a zero sum game where a tax cut means less revenue to the government and therefore you have increasing deficits, but this is not reality except in the mind of democrats.  Tax cuts nearly always increase revenue to the government because businesses use their new found money to expand, pay higher salaries and generate more income.  This income generates more tax revenue and you start to see surpluses rather than deficits.  Of course it is not an infinite formula, you have to balance the p[roper tax rate against the revenue that can be generated and the new tax rates are just about right. 

Democrats adamantly disagree with this theory and scream about reckless increases in the deficit, something they broke all records at doing the last 8 years with Obama adding more debt than all past presidents combined and we heard nary a word from the usual suspects who know everything about everything, it seems they are only against deficits when the republicans are in charge. 

Very well said.

:)

 

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