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National Debt


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Steve Hydonus
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« on: Mar 24, 2019 04:46 pm »

https://apple.news/A3xv1z_xdTpiLvYAb2ZntYw
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« Reply #1 on: Jul 13, 2019 05:47 am »

The federal government has not been able to borrow money since March, when congressionally-mandated borrowing limits went back into force. The US Treasury, which is facing a growing deficit thanks in part to President Donald Trump's 2017 tax cuts, had said it had enough cash to last until the fall.

https://apple.news/ADJreOkNESWupw4PtH9b5rA
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« Reply #2 on: Jul 24, 2019 03:54 am »

Since Trump took office, the debt has grown from just under $20 trillion to over $22 trillion. While mandatory spending remains the largest driver of deficits, the 2017 GOP tax law was projected to add $1.9 trillion to the deficit over a decade, and bipartisan deals to increase defense and domestic spending have added billions more.


Imagine that, and Führer Trump told us the biggest tax breaks in history for the rich would stimulate the economy to bring the deficit down.

On the campaign trail, Trump first proposed a $10 trillion tax cut, far larger than any Republican rival’s, but insisted it wouldn’t boost the federal budget deficit because the economy would “take off like a rocket ship.”
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« Reply #3 on: Aug 01, 2019 09:34 pm »

Remember Republicans who always claim the Democrats raise the budget deficit;

Thursday’s budget deal proves once again Republicans never cared about the deficit

Senate Passes Massive Budget Expected To Raise Deficit By Nearly $2 Trillion. And why? Because there is no money to spend since Trump gave it all to the rich in the biggest tax breaks in history for the highest 1% income makers in the United States.

https://apple.news/AI6X9GogfQPSRJwxD0Q_j6g


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« Reply #4 on: Aug 20, 2019 11:41 pm »

National debt was one of the cornerstone problems Trump was to address in his campaign but it has come back to haunt him;

10. Federal debt. The national debt swelled under Obama as the federal government spent money to try to rebuild the economy after the Great Recession. At the end of Obama’s term, the annual deficit had declined considerably, but it has since jumped up again under Trump because of his tax cut and increased government spending.


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« Reply #5 on: Aug 22, 2019 01:11 pm »

The U.S. federal deficit will expand by about $800 billion more than previously expected over the next decade, as recent increases in spending are on track to push the nation into levels of debt unseen since the end of World War II, the Congressional Budget Office said Wednesday.

The annual U.S. deficit will come close to hitting $1 trillion in 2019, an unusually high number during a period of economic growth, the CBO added. Driving that number is spending as well as a large tax cut in corporate and individual income taxes passed by Republicans in 2017.

It is imperative to recognize that Republicans, unlike what they give lip service to, are the largest contributors to national debt in history with their huge tax breaks for the rich and large spending included. Their tax breaks were supposed to stimulate the economy and bring down deficits which was always only a pipe dream and further drove a widening gap between the rich and poor. Giving absolutely no purpose to their plans accept to make a royal class and peasant class of people in this country similar to medieval times in history.

It may be difficult for Democrats and Republicans to agree on how to stimulate the economy so soon after the GOP passed an enormous tax cut for the wealthy. It is ironical that a man who has funnel vision on only the economy cannot even take care of that successfully!

https://apple.news/AswB-yAkfSRu98-2bu4F12Q
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