Adding "just" $1.5 trillion to the Federal deficit

[mellincf]

Legislation is being considered that needs to be whittled down to adding just $1.5 trillion to the Federal deficit over the next 10 years. This averages out to another $170 billion being added to the deficit in 2018, 2019, 2020, ..., and 2027. This is on top of an estimated Federal budget deficit for the current year of -$602 billion that is estimated to come in between -$450 billion and -$550 billion each year over the next five years according to the U.S. government itself in the Bureau of Economic Analysis that we all know will end up being more than -$450 billion to -$550 billion per year at the end of the day regardless of what party is in control in Washington.

Why are we even having a conversation about adding a mere penny to the deficit? Instead, where the heck are the surpluses!?!

We are already currently in the third longest sustained economic expansion in U.S. history dating back to the mid-1800s. At 98 months, it is quickly closing in on the number two spot held by the 106-month expansion from February 1961 to December 1969.

Certainly, the recovery has been anything but robust in magnitude. But it has been extensive in duration. And it is showing no signs of letting up anytime soon under the current set of fiscal policy circumstances.

A really good expansive article, NOT POLITICAL, continued on "Seeking Alpha", a financial, not political, website.

[Dr Winston O Boogie jr]

The economic expansion has been at it's slowest rate in a long, long time.

I assume that this $1.5 trillion number comes from the CBO which is almost always wrong. I don't know why we keep sending bills to them to be scored. They don't consider any growth that may occur by growing the economy at a faster rate or bringing jobs and companies back to the US by lowering taxes.

CBO numbers assume that everything will stay the same.

Every time taxes have been cut, from JFK to Reagan to Clinton, revenues to the government INCREASED. The problem is that as revenues increase, Congress spends at a faster rate than the revenues increase.

This is all part of their re-election scam.

[Don Baldwin]

Legislation is being considered that needs to be whittled down to adding just $1.5 trillion to the Federal deficit over the next 10 years. This averages out to another $170 billion being added to the deficit in 2018, 2019, 2020, ..., and 2027. This is on top of an estimated Federal budget deficit for the current year of -$602 billion that is estimated to come in between -$450 billion and -$550 billion each year over the next five years according to the U.S. government itself in the Bureau of Economic Analysis that we all know will end up being more than -$450 billion to -$550 billion per year at the end of the day regardless of what party is in control in Washington.

Why are we even having a conversation about adding a mere penny to the deficit? Instead, where the heck are the surpluses!?!

We are already currently in the third longest sustained economic expansion in U.S. history dating back to the mid-1800s. At 98 months, it is quickly closing in on the number two spot held by the 106-month expansion from February 1961 to December 1969.

Certainly, the recovery has been anything but robust in magnitude. But it has been extensive in duration. And it is showing no signs of letting up anytime soon under the current set of fiscal policy circumstances.

A really good expansive article, NOT POLITICAL, continued on "Seeking Alpha", a financial, not political, website.

Are you KIDDING me?

They'll borrow $1.5 trillion this year...and the next...and the next...in a decade we'll owe $40 trillion.

This "expansion" has been bought with debt...a LOT of debt...$20 trillion in debt...enough for $1 bills to be stacked into 6 piles that reach the moon. The MOON and back 6 TIMES! That is this countries debt right now.

[Topspinmo]

Amazing all the degree's, lawyers, federal CBOs, politicians and the cant figure it out. Let's see we have debt, we have income (taxes). OK Here it come the 22 trillion dollar answer------------------don't spend more than you take in. OMG I solved it. And it only took me 25 seconds.:bigbow::bigbow::bigbow::bigbow:

Just like some of us has done for decades.

[Kenswing]

Amazing all the degree's, lawyers, federal CBOs, politicians and the cant figure it out. Let's see we have debt, we have income (taxes). OK Here it come the 22 trillion dollar answer------------------don't spend more than you take in. OMG I solved it. And it only took me 25 seconds.:bigbow::bigbow::bigbow::bigbow:

Just like some of us has done for decades.
No kidding. If I ran my business the way the government does I would have been shut down years ago.

[Don Baldwin]

Amazing all the degree's, lawyers, federal CBOs, politicians and the cant figure it out. Let's see we have debt, we have income (taxes). OK Here it come the 22 trillion dollar answer------------------don't spend more than you take in. OMG I solved it. And it only took me 25 seconds.:bigbow::bigbow::bigbow::bigbow:

Just like some of us has done for decades.

The money MUST be borrowed to pay for the empire's expenses and to house, clothe, and feed the poor.

Try cutting over a $ trillion from the federal budget...go ahead...without causing riots.

No kidding. If I ran my business the way the government does I would have been shut down years ago.

If you ran government like you do a business...you'd be overthrown years ago.

[wjboyer1]

CREDO Mobile - Share if you agree: We must stop the Trump... (https://www.facebook.com/CREDO/videos/10156842057310968/)

Elizabeth Warren - The Republican tax plan puts rich donors ahead of working families - The Washington Post (https://www.washingtonpost.com/opinions/the-republican-tax-plan-puts-rich-donors-ahead-of-working-families/2017/11/03/cea51d20-c018-11e7-97d9-bdab5a0ab381_story.html?utm_term=.d55beacc0001)

Take action against the GOP tax scam:... - Patriotic Millionaires (https://www.facebook.com/PatrioticMillionaires/videos/1643177482371735/)

[Jack9696]

They will need a trillion to hire judges to prosecute Liberal scum and deport illegals, including dacas...well worth it.

[Paper1]

Paying down the debt is no longer an option as we have blown by that tipping point. Now the focus is how to delay the crash. The only way to do that is continue to borrow and spend until the rest of the world says they don’t want US dollars any longer. The debt is hardly a blimp when you look at all the financial commitments and guarantees both state and federal governments have made including SS, Medicare, pension, promised healthcare, etc that are starting to come due. IMO

[Don Baldwin]

Paying down the debt is no longer an option as we have blown by that tipping point. Now the focus is how to delay the crash. The only way to do that is continue to borrow and spend until the rest of the world says they don’t want US dollars any longer. The debt is hardly a blimp when you look at all the financial commitments and guarantees both state and federal governments have made including SS, Medicare, pension, promised healthcare, etc that are starting to come due. IMO

America is bankrupt...$20 trillion in debt...$1 bills that would go to the moon and back 6 times. We owe over $60,000 for EVERY man woman and child...We go over $1 trillion in farther into debt each year...over $3,000 for EVERY man woman and child. Eventually...it WILL end...my guess is sometime before we become 80% minority...within 30 years.

[Wiotte]

America is bankrupt...$20 trillion in debt...$1 bills that would go to the moon and back 6 times. We owe over $60,000 for EVERY man woman and child...We go over $1 trillion in farther into debt each year...over $3,000 for EVERY man woman and child. Eventually...it WILL end...my guess is sometime before we become 80% minority...within 30 years.



Let’s just do what Trump has done countless times, go bankrupt. Who’s gonna challenge us ? You want your
money ? Here’s a hellcat missle up your ass, how does that feel ? Want another ? No ? Good, now get the fvck outta here. What do I owe you ? Nothing ? Excellent.


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[dirtbanker]

Legislation is being considered that needs to be whittled down to adding just $1.5 trillion to the Federal deficit over the next 10 years. This averages out to another $170 billion being added to the deficit in 2018, 2019, 2020, ..., and 2027. This is on top of an estimated Federal budget deficit for the current year of -$602 billion that is estimated to come in between -$450 billion and -$550 billion each year over the next five years according to the U.S. government itself in the Bureau of Economic Analysis that we all know will end up being more than -$450 billion to -$550 billion per year at the end of the day regardless of what party is in control in Washington.

Why are we even having a conversation about adding a mere penny to the deficit? Instead, where the heck are the surpluses!?!

We are already currently in the third longest sustained economic expansion in U.S. history dating back to the mid-1800s. At 98 months, it is quickly closing in on the number two spot held by the 106-month expansion from February 1961 to December 1969.

Certainly, the recovery has been anything but robust in magnitude. But it has been extensive in duration. And it is showing no signs of letting up anytime soon under the current set of fiscal policy circumstances.

A really good expansive article, NOT POLITICAL, continued on "Seeking Alpha", a financial, not political, website.

Now she thinks she can talk money and do math...stick to the skort, tennis, and fluffing your hair babydoll.

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[Taltarzac725]

Legislation is being considered that needs to be whittled down to adding just $1.5 trillion to the Federal deficit over the next 10 years. This averages out to another $170 billion being added to the deficit in 2018, 2019, 2020, ..., and 2027. This is on top of an estimated Federal budget deficit for the current year of -$602 billion that is estimated to come in between -$450 billion and -$550 billion each year over the next five years according to the U.S. government itself in the Bureau of Economic Analysis that we all know will end up being more than -$450 billion to -$550 billion per year at the end of the day regardless of what party is in control in Washington.

Why are we even having a conversation about adding a mere penny to the deficit? Instead, where the heck are the surpluses!?!

We are already currently in the third longest sustained economic expansion in U.S. history dating back to the mid-1800s. At 98 months, it is quickly closing in on the number two spot held by the 106-month expansion from February 1961 to December 1969.

Certainly, the recovery has been anything but robust in magnitude. But it has been extensive in duration. And it is showing no signs of letting up anytime soon under the current set of fiscal policy circumstances.

A really good expansive article, NOT POLITICAL, continued on "Seeking Alpha", a financial, not political, website.

Nice start to a thread about something policy oriented and then it sinks in the normal personal attacks from the Trump loving trolls on here.

[Don Baldwin]

Let’s just do what Trump has done countless times, go bankrupt. Who’s gonna challenge us ? You want your
money ? Here’s a hellcat missle up your ass, how does that feel ? Want another ? No ? Good, now get the fvck outta here. What do I owe you ? Nothing ? Excellent.


Sent from my iPhone using Tapatalk

Why go bankrupt when you can just "print" what you need?

[wjboyer1]

The Trump-Republican tax plan would eliminate numerous deductions designed to help middle-class families, but protects write-offs that benefit the top one percent and wealthy corporations. Trump himself has used many of these deductions to pay little or no taxes over the years. Here are a few:
1) The bill keeps a loophole that golf-course owners use reduce their tax burden. By claiming the course is a conservation project, owners can save millions of dollars on their taxes. Trump uses the benefit at his clubs in New Jersey and Florida.
2) Loopholes that benefit real-estate developers are also untouched. Under the plan, developers like Trump would still be able to deduct their interest expenses on multi-million dollar commercial loans.
3) On the campaign trail, Trump said he’d close “special interest loopholes that have been so good for Wall Street investors but unfair to American workers." But his tax bill still retains the “carried interest” loophole that benefits Wall Street private-equity and hedge fund partners. Real estate developers also frequently to take advantage of this tax trick.
If you're rich like Donald Trump this plan protects your favorite deductions, lowers your taxes even further, and creates news loopholes. But if you're middle-class or poor the plan would eliminate deductions, increase your taxes over time, and make it harder to claim other benefits. It's a complete sham.

[Chi-Town]

There should be so much Republican outrage with a plan that increases the deficit period. How many times did we hear the whine of that song?

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[Don Baldwin]

The Trump-Republican tax plan would eliminate numerous deductions designed to help middle-class families, but protects write-offs that benefit the top one percent and wealthy corporations. Trump himself has used many of these deductions to pay little or no taxes over the years. Here are a few:
1) The bill keeps a loophole that golf-course owners use reduce their tax burden. By claiming the course is a conservation project, owners can save millions of dollars on their taxes. Trump uses the benefit at his clubs in New Jersey and Florida.
2) Loopholes that benefit real-estate developers are also untouched. Under the plan, developers like Trump would still be able to deduct their interest expenses on multi-million dollar commercial loans.
3) On the campaign trail, Trump said he’d close “special interest loopholes that have been so good for Wall Street investors but unfair to American workers." But his tax bill still retains the “carried interest” loophole that benefits Wall Street private-equity and hedge fund partners. Real estate developers also frequently to take advantage of this tax trick.
If you're rich like Donald Trump this plan protects your favorite deductions, lowers your taxes even further, and creates news loopholes. But if you're middle-class or poor the plan would eliminate deductions, increase your taxes over time, and make it harder to claim other benefits. It's a complete sham.

I don't think they want us owning our homes any more...I think they want to own them and have us pay rent to them. They are making it impossible for the new generations to buy a house...and they're waiting for us to die off to get ours. Half the lower income homeowners will not be able to afford their houses if this is cut...it's $ thousands a year. New buyers will no longer be able to afford it. Agree? Or is it not that much of a big deal to most people?

WHOM exactly do you think Trump works for? YOU? Ha! He works for THEM...people like himself...businessmen out for profits...out to rob the treasury.

There should be so much Republican outrage with a plan that increases the deficit period. How many times did we hear the whine of that song?

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Where was YOUR outrage when your boy Obama was doubling the debt by adding $10 TRILLION...!?

[Dr Winston O Boogie jr]

The Trump-Republican tax plan would eliminate numerous deductions designed to help middle-class families, but protects write-offs that benefit the top one percent and wealthy corporations. Trump himself has used many of these deductions to pay little or no taxes over the years. Here are a few:
1) The bill keeps a loophole that golf-course owners use reduce their tax burden. By claiming the course is a conservation project, owners can save millions of dollars on their taxes. Trump uses the benefit at his clubs in New Jersey and Florida.
2) Loopholes that benefit real-estate developers are also untouched. Under the plan, developers like Trump would still be able to deduct their interest expenses on multi-million dollar commercial loans.
3) On the campaign trail, Trump said he’d close “special interest loopholes that have been so good for Wall Street investors but unfair to American workers." But his tax bill still retains the “carried interest” loophole that benefits Wall Street private-equity and hedge fund partners. Real estate developers also frequently to take advantage of this tax trick.
If you're rich like Donald Trump this plan protects your favorite deductions, lowers your taxes even further, and creates news loopholes. But if you're middle-class or poor the plan would eliminate deductions, increase your taxes over time, and make it harder to claim other benefits. It's a complete sham.

Actually, under this plan, the top ten percent of wage earners would pay more in taxes which is why many conservatives don't like it.

[Dr Winston O Boogie jr]

There should be so much Republican outrage with a plan that increases the deficit period. How many times did we hear the whine of that song?

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Under this plan, revenues to the government will increase. This idea of adding to the deficit is utter nonsense. I don't understand why the CBO is still in existence. They are wrong far more often than they are right. Their assessments are based on a static economy. They do not take into consideration, the growth of the economy when the score a bill.