US Budget Deficit Drops...Again

[MMMariah]

"U.S. budget deficit drops to 7 year low as 'Obama economy' continues to improve"
People keep claiming that Obama's economy is getting worse not better and we're at an all-time low but the reality (and the facts) don't say that at all. The truth is that the budget deficit is at a 7 year low, and for those who need help with that math, that means since BEFORE Obama took office, which in totality means it is getting better after 6 1/2 years of Obama in office. article

The right has said that Obamacare is costing way too much but the CBO says the numbers don't say that. article

"With 65 straight months of private sector job growth, the unemployment rate is at its lowest since April 2008" so for those who are claiming that our economy is worse than before he took office, you do know you can just look this shit up right?

 

[MMMariah]

I linked the wrong article accidentally in regards to Obamacare actually saving money here is the correct link

 

[georges]

wrong, read the official sources
http://www.usgovernmentdebt.us/
https://www.cbo.gov/publication/49979
https://www.cbo.gov/publication/49973
https://www.cbo.gov/publication/49909

 

[MMMariah]

those are links to projections georges. the link I posted was to the LATEST REPORT PUBLISHED BY THE CBO!

 

[Ace Boobtoucher]

We as a country are facing $80 trillion*+ in unfunded liabilities. Not all of it is Stompy Foot's fault but he hasn't done a goddamned thing to stem the flow. The U.S. government is borrowing more than a million dollars a minute just to operate. It's time to eliminate ineffective programs and departments. Off the top of my head I can name about six or seven useless things. There are 47 fucking jobs training programs. That's ridiculous. Get rid of the EPA, DHS, Department of Energy, Department of Education, and a few others that are redundant. Most of those things can be handled at the state or local level.

 

[BeatMan]

here in Canada Health and Education and social services are the responsibility of the Provinces.. The U.S should do the same letting those services to the states

 

[MMMariah]

the EPA? lol yes lets allow companies to do as they wish with waste disposal. lol I hope you don't bath or drink or wash anything in tap water.

How about cutting the fat out of the defense budget? those jobs programs (socialist) where we have outdated contracts to build things we never intend to use? Like tanks and fighter planes that are driven off the assembly line and parked forever in a parking lot to rust. How about that?

The 2 wars cost us over $4.5 trillion so far. We're still building things to fight the russians in the 1970s because of pork in the contracts handed in exchange for money to political campaigns.

 

[xfire]

Until we fix the trickle down tax code budget deficits are guaranteed and the national debt will continue to grow, thirty five years of failed tax policy is sending this country to hell in a hand basket.

 

[georges]

the EPA? lol yes lets allow companies to do as they wish with waste disposal. lol I hope you don't bath or drink or wash anything in tap water.

How about cutting the fat out of the defense budget? those jobs programs (socialist) where we have outdated contracts to build things we never intend to use? Like tanks and fighter planes that are driven off the assembly line and parked forever in a parking lot to rust. How about that?

The 2 wars cost us over $4.5 trillion so far. We're still building things to fight the russians in the 1970s because of pork in the contracts handed in exchange for money to political campaigns.

Cut the welfare , cancel and destroy obamacare and remove the food stamps budget, you will save a lot of tax payers money and also close the boarders. So there won't be illegals in that country and so that the country would be able to care about its own poor people, its veterans as well as to invest in infrastructures like roads and more modern telecommunications systems. Obama stupidly cut off the f22 continuation and production budgets and now USAF is stuck with unreliable f35 which isn't as good as a f16 block 52+ or block 60 or a f15 strike eagle.The planes that are no more in service can be found here http://www.airplaneboneyards.com/davis-monthan-afb-amarg-airplane-boneyard.htm. Maybe you should calculate the amount of money of how much illegals, criminals and those who are sitting and living on welfare during decades have cost to your country. Those who are not economically contributing to your country are sinking it and you know it.

 

[MMMariah]

"The class of a society can be measured in how it treats its weakest members"

Or how about taxing the wealthy and the corporations and increasing minimum wages so working people don't still qualify for assistance? That's the answer I like.

And if you brag about all the languages you speak, you should at least be able to spell.

Those programs he ended were outdated contracts to build things the military says they don't want. The f35 costs 800 BILLION dollars a year georges lol

Increase taxes on the wealthy and businesses. That's what's coming to the US and its way past due. We've tried the trickle down shit and its proven to be a miserable failure.

 

[Rey C.]

Until we fix the trickle down tax code budget deficits are guaranteed and the national debt will continue to grow, thirty five years of failed tax policy is sending this country to hell in a hand basket.

I agree. The U.S. badly needs to reform our failed tax policies (corporate and personal). That, along with fiscal reforms, would get us back on track, IMO.

 

[MMMariah]

Every economist says the same thing as well. If companies like Verizon and GE can make billions of dollars in profit tax-free (GE got money back!) then we are headed for disaster. We are subsidizing the wages for highly profitable companies who under pay their workers and overpay their executives. At our strongest time in history as a country we redistributed wealth and regulated business very heavily to protect consumers that drove our economy.

But even though every major economy study shows this, the republicans have added economists to the list of people not to listen to along with scientists (unless they say babies begin at flirting)

 

[Rey C.]

Pure hyperbole. You couldn't get every economist to agree on what day of the week it is. Some (Paul Krugman, I believe is one) believe that deficits don't matter.

It's amusing when someone points out a legal loophole in the current tax law that allows abuses, and then they don't want tax reform. Why would anyone expect anything to change if you don't change the system??? What is the definition of insanity again?

The health care system was (and still is) a joke. So it was time to reform it. Our tax system is also a joke. But I would say that tax reform should not follow the same bad example set by health care (really just insurance) reform. Having a tax system that is full of loopholes, is so complex that a team of Philadelphia lawyers (and accountants) can't figure it out and a tremendous amount of money is wasted, is not the way to go. Greece is a good example of what happens when deficits are not addressed and when the tax system goes to an extreme level of inefficiency. Tax policy is a component of fiscal policy. IMO, the failure of the Dems and Repubs to implement effective fiscal policies over the past six years is a big (but not the only) reason why most Americans agree that we are on the wrong path in this country: 68% of voters not affiliated with either major political party think the country is on the wrong track.

As for the deficit, I'm pleased to hear that it's currently better than it was - so it's basically gone from "worse" to just "bad". Still, that is progress. But let me ask something: what happens when (not if) we have another recession and what happens when (not if) long term interest rates begin rising?

 

[MMMariah]

who cares? the rich will make huge profits and the poor will get more poor. that's our country's position these days. until we change our fundamental way of governing it will continue.

 

[Ace Boobtoucher]

Increase taxes on the wealthy and businesses. That's what's coming to the US and its way past due. We've tried the trickle down shit and its proven to be a miserable failure.

What a load of shit. The wealthy in the U.S. already bear the burden of most of the taxation. And corporate taxation is the highest in the world. Yeah there are ways to get around paying some of the taxes but there will always be stupid people who think they aren't paying their fair share.

 

[mikexmoran]

Until we fix the trickle down tax code budget deficits are guaranteed and the national debt will continue to grow, thirty five years of failed tax policy is sending this country to hell in a hand basket.

Yup...the problem is that the US economy is one big cow. It is productive and it makes up for lots of sins that politicians make. It recovers often in spite of the actions that the politicians make.

Forget about reform while there are PACs funding elections.

 

[MMMariah]

Corporate profits are at an all-time high yet wages haven't budged.

Trickle down has worked??? Really??? Since Reagan started this experiment more people have dropped out of the middle class to the point that there are probably more tigers in the wild than americans in the middle class. The poor are getting more poor while the wealthy are breaking records. Companies hire teams of accountants and end up paying NOTHING. Look it up, Verizon paid ZERO last year. GE got a fucking tax refund for fuck's sake. LOOK IT UP.

 

[Rey C.]

Companies hire teams of accountants and end up paying NOTHING.

This is true. They're hired to exploit loopholes, tax breaks and inefficiencies in the current code. What they do is (typically) entirely legal.

That alone tells me that it's time to rewrite the tax code - both personal and corporate. The way that Mitt Romney was able to structure a retirement account, with products that were all but guaranteed to explode up in value *after* they were placed in the account, was quite brilliant (and entirely legal). It's not something you or I could accomplish, certainly not to that degree. Many/most of the products he had access to are not even available to non-accredited investors. Rewriting the tax code in this country would not be easy. The monied special interests would do their best to juice it in their favor, as would be expected. And the code is so complicated that most others don't understand it or why it needs to be changed. But it could be simplified, made more efficient and additional revenues could be raised without damaging the economy or growth. IMO, those additional revenues should go 100% toward deficit and debt reduction ONLY.

 

[Straight Shooter]

"U.S. budget deficit drops to 7 year low as 'Obama economy' continues to improve"
People keep claiming that Obama's economy is getting worse not better and we're at an all-time low but the reality (and the facts) don't say that at all. The truth is that the budget deficit is at a 7 year low, and for those who need help with that math, that means since BEFORE Obama took office, which in totality means it is getting better after 6 1/2 years of Obama in office. article

The right has said that Obamacare is costing way too much but the CBO says the numbers don't say that. article

"With 65 straight months of private sector job growth, the unemployment rate is at its lowest since April 2008" so for those who are claiming that our economy is worse than before he took office, you do know you can just look this shit up right?

Ok cool. But explain how this will directly affect the average American?

 

[georges]

FACT CHECK: ARE REPUBLICANS RACKING UP RECORD DEFICITS?
http://checkyourfact.com/2018/10/04...ush&utm_source=daily_caller&utm_campaign=push