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Old 07-19-2018, 12:37 AM  
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New White House Report Shows Deficit Projections Have Doubled

The White House Office of Management and Budget released its annual mid-session review Friday, updating deficit projections in its fiscal year 2019 budget request. The report projected deficits will reach $1.085 trillion in FY 2019 under their budget, which is double the $526 billion called for in their FY 2018 budget.

http://www.crfb.org/press-releases/n...s-have-doubled
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Old 07-20-2018, 08:38 AM   #76
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Originally Posted by chiefzilla1501 View Post
The idea that they're investing all those savings in capital is overblown. Most of that money is sunk into buybacks, which basically means the biggest beneficiary isn't the company, it's executives with huge stock options.

I don't have an issue with corporate tax breaks if it's offset by spending cuts. Cutting taxes while drunkenly spending money and expecting corporations will trickle down all the tax savings into true long term investment is wishful thinking.
Cutting taxes during good economic times, whether with spending cuts or not, is irresponsible fiscal policy.

We need to use good economic times to prepare for the next downturn, not continue to cut taxes.
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Old 07-20-2018, 08:39 AM   #77
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Originally Posted by Shaid View Post
Well, the tax law pass by Obama and the D congress is why we've had a reducing deficit since he started so your logic is pretty much a lie but we'll go ahead and use your logic.

R President +R Congress = deficit increase
R President + D Congress = deficit increase
D President + D Congress = deficit increase
D President + R Congress = deficit decrease

So by your logic, we should always only have a Democratic president. What's funny is I told my dad in the 90s that I thought we were better off with a Dem president and Rep congress. I always believed that until I saw the Tea Party takeover of the Republicans.
That's a little disingenuous. He decreased the deficit, but added a ton of debt, including exploding costs to medicaid. Obama is not the example you want to use for how to manage deficits.
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Old 07-20-2018, 08:47 AM   #78
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Originally Posted by Loneiguana View Post
Cutting taxes during good economic times, whether with spending cuts or not, is irresponsible fiscal policy.

We need to use good economic times to prepare for the next downturn, not continue to cut taxes.
Yea, that 1.5% growth in 2016 was awesome!
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Old 07-20-2018, 08:47 AM   #79
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Originally Posted by chiefzilla1501 View Post
That's a little disingenuous. He decreased the deficit, but added a ton of debt, including exploding costs to medicaid. Obama is not the example you want to use for how to manage deficits.
Deficits increase Debt. When you are handed the largest deficit in history, of course the debt will increase. You need to reduce the deficit and eventually get to a budget surplus to finally start reducing debt. We were trending that way, now we aren't and that's entirely due to the Rs.
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Old 07-20-2018, 08:51 AM   #80
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Originally Posted by chiefzilla1501 View Post
That's a little disingenuous. He decreased the deficit, but added a ton of debt, including exploding costs to medicaid. Obama is not the example you want to use for how to manage deficits.
If we are being completely honest about the reason for the increase in the actual debt, a large part of it was Obama ending war spending tricks that Bush used to keep the cost of the war off the books.

Its an example of Obama doing the right and transparent thing even though it means people who just look at the data would go "wow Obama really increased the debt" even though the majority of that increase was because of the Wars Bush started.

He also turned around a a huge deficit because of the rescission that plagued Bush's last years and Obama's first few. I don't know what example you have of someone lowering the deficit after a rescission within the last few decades to compare to that, but Obama did pretty good with what he had to work with.
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Old 07-20-2018, 08:51 AM   #81
GloryDayz GloryDayz is offline
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Tax cuts without offsetting spending cuts is/was stupid.
Water is wet!

Anyway, as long as it's social welfare programs that are cut, I'm fine with it. So far very few people realize that those programs are the fat that needs to be trimmed.
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Old 07-20-2018, 09:06 AM   #82
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Originally Posted by Shaid View Post
Deficits increase Debt. When you are handed the largest deficit in history, of course the debt will increase. You need to reduce the deficit and eventually get to a budget surplus to finally start reducing debt. We were trending that way, now we aren't and that's entirely due to the Rs.
The debt increased because of ineffective stimulus spending and a massive expansion of medicaid. Thats new debt. The thing about being handed the largest deficit is that it makes it really easy to cut it by just not doing anything. What matters most is new debt, and he added a ton of it.
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Old 07-20-2018, 09:10 AM   #83
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Originally Posted by GloryDayz View Post
Water is wet!

Anyway, as long as it's social welfare programs that are cut, I'm fine with it. So far very few people realize that those programs are the fat that needs to be trimmed.
Ya we're well overdue for a Defense cut.
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Old 07-20-2018, 09:10 AM   #84
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Originally Posted by Loneiguana View Post
If we are being completely honest about the reason for the increase in the actual debt, a large part of it was Obama ending war spending tricks that Bush used to keep the cost of the war off the books.

Its an example of Obama doing the right and transparent thing even though it means people who just look at the data would go "wow Obama really increased the debt" even though the majority of that increase was because of the Wars Bush started.

He also turned around a a huge deficit because of the rescission that plagued Bush's last years and Obama's first few. I don't know what example you have of someone lowering the deficit after a rescission within the last few decades to compare to that, but Obama did pretty good with what he had to work with.
Most presidents have major wars under their watch. Can't use defense spending as an excuse. Obama inherited a huge deficit and the economy had bottomed out. The economy would have reversed the deficit organically. Not to say he was totally terrible. I've never believed that hogwash. But he is a huge contributor to our debt issue, as was Bush, and as is Trump.
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Old 07-20-2018, 09:15 AM   #85
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Originally Posted by chiefzilla1501 View Post
Most presidents have major wars under their watch. Can't use defense spending as an excuse. Obama inherited a huge deficit and the economy had bottomed out. The economy would have reversed the deficit organically. Not to say he was totally terrible. I've never believed that hogwash. But he is a huge contributor to our debt issue, as was Bush, and as is Trump.
You are completely ignoring Bush's War time spending tricks to keep the cost hidden from the national debt.

Its not using defense spending as an excuse. I didn't mention defense spending, because Bush didn't use defense spending to pay for the Wars. He used Emergency Spending Measures. It is looking at the actions Bush took to hide the cost of the war from the American people and from the national debt. I take it you didn't know that.

If Bush would have been honest, the debt would have ballooned under his watch and you would not have seen the debt spike like it did when Obama came in and stopped those dirty spending tricks.
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Old 07-20-2018, 09:19 AM   #86
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Originally Posted by Prison Bitch View Post
A Dem president always needs a GOP congress to shrink a deficit


Fact.
True, see the 1990's Republican Revolution when the GOP took over congress and balanced the budget.

But what happens when you have a fake conservative in the White House and a GOP congress who seems unwilling to hold said fake conservative President accountable to fiscal conservative principles?
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Old 07-20-2018, 09:25 AM   #87
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Originally Posted by Loneiguana View Post
You are completely ignoring Bush's War time spending tricks to keep the cost hidden from the national debt.

Its not using defense spending as an excuse. I didn't mention defense spending, because Bush didn't use defense spending to pay for the Wars. He used Emergency Spending Measures. It is looking at the actions Bush took to hide the cost of the war from the American people and from the national debt. I take it you didn't know that.

If Bush would have been honest, the debt would have ballooned under his watch and you would not have seen the debt spike like it did when Obama came in and stopped those dirty spending tricks.
I am not ignoring it. Do you see me defending Bush on the issue of spending?
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Old 07-20-2018, 09:30 AM   #88
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I am not ignoring it. Do you see me defending Bush on the issue of spending?
No. I see you saying "Defense spending isn't an excuse" when I never mentioned Defense spending and was talking about Bush's Emergency War spending ticks that hid the cost of the wars from the books.

Any honest conversation that explores the causes of the debt has to include these Emergency War Spending tricks. You just can't go "The debt spiked under Obama" without looking at the reasons why. And the biggest reason why was finally placing the true cost of both wars on the books.

The other 2 main reasons the debt has exploded since Clinton was tax cuts and the recession.
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Old 07-20-2018, 09:31 AM   #89
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Ya we're well overdue for a Defense cut.
Let's discuss that a year or three after we're not funding the bulk to the NATO bill. Until then let's save the money by not funding, long term, lazy-ass useless people who make a career of feeding off of America's generosity. I'm 100% fine with long term support for the disabled and the truly elderly, but let able-bodied people sink or swim. I think few will sink, most learn to swim once they learn that the alternative to death is hard work.
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Old 07-20-2018, 09:33 AM   #90
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Let's discuss that a year or three after we're not funding the bulk to the NATO bill. Until then let's save the money by not funding, long term, lazy-ass useless people who make a career of feeding off of America's generosity. I'm 100% fine with long term support for the disabled and the truly elderly, but let able-bodied people sink or swim. I think few will sink, most learn to swim once they learn that the alternative to death is hard work.
True, if you an are able-bodied person of working age and you are unable to find a way to support yourself in this economy with 3.8% unemployment, then you have no excuse.
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