Fiscal 2020 First Quarter Budget Deficit Up 25%

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xtrawildcat
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Fiscal 2020 First Quarter Budget Deficit Up 25%

Post by xtrawildcat » February 13th, 2020, 8:03 pm

I thouht Trump supporters on this forum would have already reported this news. This is some major mis management that Trump owns.

https://www.cnbc.com/2020/02/12/us-defi ... -year.html

KEY POINTS
The budget deficit for the first four months of fiscal 2020 is $389.2 billion, the Treasury Department reported.
That’s a 25% gain from the same period a year ago.
Over the past 12 months, the gap has been nearly $1.1 trillion as the national debt has swelled past $23 trillion.

ToledoCat#2
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Post by ToledoCat#2 » February 13th, 2020, 10:09 pm

Blame equally, Obummer and Trumper and both Political Parties and Congress and the American Public for the national debt and the budget deficits. No one is willing to sacrifice their comfort, well-being for the common good.

Deficits ain't gonna stop under any administration, so prepare yourself as best you can for the inevitable economy correction/collapse in our future. And, no one knows when that will happen.

xtrawildcat
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Post by xtrawildcat » February 14th, 2020, 9:41 am

ToledoCat#2 wrote:
February 13th, 2020, 10:09 pm
Blame equally, Obummer and Trumper and both Political Parties and Congress and the American Public for the national debt and the budget deficits. No one is willing to sacrifice their comfort, well-being for the common good.

Deficits ain't gonna stop under any administration, so prepare yourself as best you can for the inevitable economy correction/collapse in our future. And, no one knows when that will happen.
Obama is not president. Hasn't been for over three years and he is not running for President. . The deficit in Trumps first year was Obamas responsibility. Trump owns the last two years all by himself. Trump is grossly mismanaging the federal budget.

For example, we increased military spending only to find out we didn't really need all that money as Trump felt it was OK to use it for the Border Wall that wasn't funded by Congress. Now he is asking for more money for the military.
Last edited by xtrawildcat on February 14th, 2020, 10:06 am, edited 1 time in total.

KITNooga
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Post by KITNooga » February 14th, 2020, 9:56 am

xtrawildcat wrote:
February 13th, 2020, 8:03 pm
I thouht Trump supporters on this forum would have already reported this news. This is some major mis management that Trump owns.

https://www.cnbc.com/2020/02/12/us-defi ... -year.html

KEY POINTS
The budget deficit for the first four months of fiscal 2020 is $389.2 billion, the Treasury Department reported.
That’s a 25% gain from the same period a year ago.
Over the past 12 months, the gap has been nearly $1.1 trillion as the national debt has swelled past $23 trillion.

when's the last time the house passed a budget? do we really have one?

and oh heck yes, you have a problem with this, but are interestingly silent over the dem candidate positions?
guess not only do you expect them to tax the crap out of us to cover the deficits, you also expect even more taxes to cover off on such boondoggles as Green New Deal, Climate Change and single-payer medical?

see, this is how I know you're really not thinking and really not serious.

next.

ToledoCat#2
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Post by ToledoCat#2 » February 14th, 2020, 11:43 am

You're trying to tell me that Obummer didn't add to the federal deficit? That's patently untrue. Same for Bush 2.

I've said that Trumper is letting the deficit bloom. The Congress and the voters share responsibility, too.

xtrawildcat
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Post by xtrawildcat » February 15th, 2020, 12:22 am

KITNooga wrote:
February 14th, 2020, 9:56 am
xtrawildcat wrote:
February 13th, 2020, 8:03 pm
I thouht Trump supporters on this forum would have already reported this news. This is some major mis management that Trump owns.

https://www.cnbc.com/2020/02/12/us-defi ... -year.html

KEY POINTS
The budget deficit for the first four months of fiscal 2020 is $389.2 billion, the Treasury Department reported.
That’s a 25% gain from the same period a year ago.
Over the past 12 months, the gap has been nearly $1.1 trillion as the national debt has swelled past $23 trillion.

when's the last time the house passed a budget? do we really have one?

and oh heck yes, you have a problem with this, but are interestingly silent over the dem candidate positions?
guess not only do you expect them to tax the crap out of us to cover the deficits, you also expect even more taxes to cover off on such boondoggles as Green New Deal, Climate Change and single-payer medical?

see, this is how I know you're really not thinking and really not serious.

next.
Heck yes, I do have a problem with 389 billion deficit in one quarter.
FYI I am completely against the policies of Bernie and Elizabeth Warren due to their lack of concern with the budget. I'm still sorting the other ones out and right now Klobuchar is the only candidate that has mentioned the deficit as a problem. Still waiting to hear Trumps plan to cut the deficit other than cutting Medicare and SS that has no chance of passing. And if he would put out a plan to cut Medicare and SS, get behind it and push to get it passed, I would listen.

katlander
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Post by katlander » February 15th, 2020, 12:30 am

This is the one aspect of PDJT's presidency that I do have a problem with. One question I have is what has happened to the deficit in terms of GNP? If we have sufficient economic growth the deficit could become smaller in relative terms while still growing. I doubt GDP growth has been this strong but outgrowing the deficit would be one way to make it less of a threat.

NealyFan
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Post by NealyFan » February 15th, 2020, 5:39 am

xtrawildcat wrote:
February 15th, 2020, 12:22 am
KITNooga wrote:
February 14th, 2020, 9:56 am



when's the last time the house passed a budget? do we really have one?

and oh heck yes, you have a problem with this, but are interestingly silent over the dem candidate positions?
guess not only do you expect them to tax the crap out of us to cover the deficits, you also expect even more taxes to cover off on such boondoggles as Green New Deal, Climate Change and single-payer medical?

see, this is how I know you're really not thinking and really not serious.

next.
Heck yes, I do have a problem with 389 billion deficit in one quarter.
FYI I am completely against the policies of Bernie and Elizabeth Warren due to their lack of concern with the budget. I'm still sorting the other ones out and right now Klobuchar is the only candidate that has mentioned the deficit as a problem. Still waiting to hear Trumps plan to cut the deficit other than cutting Medicare and SS that has no chance of passing. And if he would put out a plan to cut Medicare and SS, get behind it and push to get it passed, I would listen.
Any cuts to Medicare and SS will be long after the last greedy Baby Boomer soils their last diaper. Cuts will come to things that benefit the young, poor, and law enforcement that oversees business and the rich.
"Although it is not true that all conservatives are stupid people,
it is true that most stupid people are conservative." - John Stuart Mill

xtrawildcat
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Post by xtrawildcat » February 15th, 2020, 9:34 am

katlander wrote:
February 15th, 2020, 12:30 am
This is the one aspect of PDJT's presidency that I do have a problem with. One question I have is what has happened to the deficit in terms of GNP? If we have sufficient economic growth the deficit could become smaller in relative terms while still growing. I doubt GDP growth has been this strong but outgrowing the deficit would be one way to make it less of a threat.
Deficit to GDP
2015 2.4
2016 3.1
2017 3.4
2018 3.8
2019 5.1

It peaked at 9,1 during the recession of 2009 and had slowly come down every year until 2016. Obamas administration had it down to 2.4 in 2015 but it started in the wrong direction in his last year. Trump has accelerated it over the last two years and no sign of the trend slowing down.

Number8son
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Pick 'Em

Post by Number8son » February 15th, 2020, 10:40 am

All we have to do is buy our own bonds. Pluses and minuses don't matter anymore.

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