Bruddah IZ
DA
Still wearing your collateralized debt cape while paying double digit interest to the bank every month I see.
Essential Economics for Politicians
- Thread starter Bruddah IZ
- Start date
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- finance too
Bruddah IZ
DA
Fries U grads! 3 peas in a pod!
Hanai Pua
Trump's Big "Win": The Largest Budget Deficit With A Strong Economy
Trump will break the record
When you take into account how the economy is doing it shows that President Trump’s budget deficits as a percentage of GDP will exceed any other President’s during a time of economic expansion. From the Committee for a Responsible Federal Budget or CFRB, the chart’s blue line shows the deficit as a percentage of GDP. At the projected 4.6% for fiscal 2019 it will the be largest in a non-recession year and is expected to stay above this level in the future.
Obama had to navigate the Great Recession
When President Obama entered office the economy was in a free fall. The deficit hit 9.8% in fiscal 2019 but that was directly related to the Great Recession. As can be seen in the durable goods orders and housing charts below, they fell dramatically and bottomed just after Obama became President.
This led to much lower tax revenue (2.4% of GDP per the CFRB) as people were laid off and companies made less money or even had losses. It also created higher spending (2.9% of GDP) for programs such as unemployment and food stamps.
Trump’s deficit will increase even as the economy grows
Multiple organizations ranging from the Congressional Budget Office to the Committee for a Responsible Federal Budget are projecting that the Federal deficit will increase even as the economy grows. Their projections are for it to increase less in 2019 than 2018, but still have many years of growth even though the current economic expansion is about to hit a decade.
Trump seems to believe (or at least that is what he says and his advisors have told him) that reducing taxes and cutting regulations will grow the economy enough to solve the debt problem. Stephen Moore from the Heritage Foundation and Larry Kudlow, Trump’s Director of the National Economic Council, are two proponents. Unfortunately, in the first year of the tax cuts, the deficit increased from $666 billion in fiscal 2017 to $779 billion in fiscal 2018, an increase of $113 billion or 17%. It looks like they are on a path to $1 trillion or more as far as the eye can see.
https://www.forbes.com/sites/chuckj...t-deficit-with-a-strong-economy/#45957b2549d1
Trump will break the record
When you take into account how the economy is doing it shows that President Trump’s budget deficits as a percentage of GDP will exceed any other President’s during a time of economic expansion. From the Committee for a Responsible Federal Budget or CFRB, the chart’s blue line shows the deficit as a percentage of GDP. At the projected 4.6% for fiscal 2019 it will the be largest in a non-recession year and is expected to stay above this level in the future.
Obama had to navigate the Great Recession
When President Obama entered office the economy was in a free fall. The deficit hit 9.8% in fiscal 2019 but that was directly related to the Great Recession. As can be seen in the durable goods orders and housing charts below, they fell dramatically and bottomed just after Obama became President.
This led to much lower tax revenue (2.4% of GDP per the CFRB) as people were laid off and companies made less money or even had losses. It also created higher spending (2.9% of GDP) for programs such as unemployment and food stamps.
Trump’s deficit will increase even as the economy grows
Multiple organizations ranging from the Congressional Budget Office to the Committee for a Responsible Federal Budget are projecting that the Federal deficit will increase even as the economy grows. Their projections are for it to increase less in 2019 than 2018, but still have many years of growth even though the current economic expansion is about to hit a decade.
Trump seems to believe (or at least that is what he says and his advisors have told him) that reducing taxes and cutting regulations will grow the economy enough to solve the debt problem. Stephen Moore from the Heritage Foundation and Larry Kudlow, Trump’s Director of the National Economic Council, are two proponents. Unfortunately, in the first year of the tax cuts, the deficit increased from $666 billion in fiscal 2017 to $779 billion in fiscal 2018, an increase of $113 billion or 17%. It looks like they are on a path to $1 trillion or more as far as the eye can see.
https://www.forbes.com/sites/chuckj...t-deficit-with-a-strong-economy/#45957b2549d1
Time to cut government spending.
Simple.
Bruddah IZ
DA
Nothing like ignoring 6 years of QE. Fries U! What a deal!!
Bruddah IZ
DA
Socialist believe that government will spend taxpayers wages better than they can. Fries U grads believe the same. They forget how deficits are created.
Bruddah IZ
DA
Fries U! What a deal!Hanai Pua
Sheriff Joe
DA
Looks like the student body is growing.
LMFAO - Izzy personally benefits more from Socialism than anyone on this board.
From us taxpayers - You're welcome!
Hüsker Dü
DA
. . . and you seem to believe large corporations are concerned about what is in humanities best interests when history says otherwise.
I don't know about that. I haven't added up all the Medicare payments and discounts I got last year for 2 nights in the hospital and associated doctor visits, but it must be close to what VA pays a useless paper-shuffler.
Bruddah IZ
DA
In membership ONLY.
Bruddah IZ
DA
You cowards fail to see the diff between earned and entitled. Youʻve always been a COWARD and continue to prove it with your own post as you condemn ALL service members. Shame on you COWARD.
Bruddah IZ
DA
That annual 2cent raise really sucks doesnʻt it Union boy? Earn your position on that roster and your personal history will improve.
Bruddah IZ
DA
Useless patients often contradict themselves as you do.
Sheriff Joe
DA
History?
Hey screw you and your delusional bullshit. That is not the case at all - what a load of crap!!!! The Military is Socialism you moron! The United States military is the largest and most funded socialist program in the world. It operates thanks to our taxpayer dollars and protects the country as a whole. From the richest citizens to the homeless who sleep under the bridge. We are all protected by our military whether we pay taxes or not. This is complete socialism. So are our schools, Police and Fire Departments, Garbage collection, roadways, CIA, FBI, Libraries, Prison system, student loans, public parks, court system, medicaid, FDA, CDC...etc.
What is clear about you is your total hypocrisy when it comes to government spending. Like most conservatives government spending is good when it benefits them directly but if it helps anyone else then you rail against it.
Sheriff Joe
DA
What does all this babble have to do with you being a fucking coward?