The Deficit
 

Not that anyone cares about it anymore...

Reuters; Expected to pass $1 Trillion

Why should anyone care? The people spending the money are living well, they have good salaries, perks and pensions, and they will never have to deal with the consequences of their decisions.

Eventually, reality will bite us big time. We can forget about our politicians trying to fix the problem. For the most part, all they want to do is get re-elected, and keep "we the people" fighting among ourselves. They seem to have done a great job of doing that, and frankly, the only hope I have left is that I hope I'm gone before total meltdown occurs.

I shudder to think what happens when the economy sours."Spend it for a rainy day" is the new mantra. This is the time to be cutting spending but even with one party in control of all three policy bodies, nothing will change.Put it on Daddy's ( the taxpayers) credit card and keep kicking that can down the road

.And somebody tell Dick Cheney that, yes, deficits DO matter.

This article is full of crap. It says Obama had four years of trillion dollar deficits due to the recession and the financial crisis. The recession ended in June of 2009. Everyone knows the economy booms after a recession ends, there was no need to spend like a drunken sailor.

Also, Social Security, Medicare, and Medicaid are responsible for half of our spending. When Democrats say this is off limits, they have no desire to get the deficit under control. Same goes for some Republicans who don't want to touch it. The problem is when Republicans talk about reforming and reducing the future spending growth of these three Democrats scream people will die and they want to take away your Social Security. Until these three are addressed the deficits will continue to soar, unless we can achieve 5 percent GDP every year, which is unlikely.

We survived 0bama - we can survive anything.

Many new jobs and rising wages translate to more tax revenue.
Hardly time to be crying wolf - let the economy continue its climb and see what happens.

Social Security is OUR money coming back to us.

Start cutting spending on thing that are not already owned by others.

SS - hands off, period.

liberals never care about deficits unless a republican is in office :pound:That being said I think the major spending cuts will be coming after the mid terms. And if the dems do as well as they think they're going to do they can lead the way in deficit reduction. We all know how that's going to play out :lol:

i remember when Al Gore campaigned. he was saying that if he got elected he would put social security in a lock box.

2 years later after he didn't win, the Congress raided the social security money and social security became more insolvent than what it already was. Obama got elected and followed the same rotten policy that G. Bush had. now Trump campaigned against other Republicans saying that people paid in and they shouldn't get screwed. so far he hasn't done anything on it, but i suspect he will and that will be a major fight with his very own party. i am saying he will do something because he seems to be doing what he promised before he got elected. he definitely does not want to cut benefits, unlike Mcconnel and Ryan.

Trump has had his plate pretty full. I think things like this will definitely be addressed in the near future.

What major spending cuts are you talking about?

If the Dems propose a 10% spending increase and the GOP cuts it back to a 5% increase, that is a spending cut in Washington.

Oh...Trump most definitely has Social Security on his radar for his second term.

We will march on DC if he tries.
SS is our money. End of story.
I have a bucket of tar and a bag of feathers in my garage.

Where is the pitchfork?:D

It will be in his ass!

From former OMB Director David Stockman:

https://www.zerohedge.com/news/2018-...tely-forgotten

But does he have a second term on his radar?

He does, but 0bama is going to campaign against him.

I doubt the reality of the first part, and the relevance of the second. Obama has become the historic black equivalent of Jimmy Carter.

You have that backwards. Republicans only care about deficits when Democrats are in office. When Republicans get in office they cut taxes and spend like drunken sailors then blame Democrats for the deficit when the Dems return to power.

Speaking of deficits, hello mostie!

Right now, when the government can borrow money at very low interest rates, there is no big problem with repayment, as they can roll-over for years. It is not like a revolving balance on a credit card with people paying 10%, 18%, 23%, ... and trying to get it paid off.

When the debt gets very high, there are government assets that can be sold such as the 28% of USA land owned by the government.

https://upload.wikimedia.org/wikiped...deral_Land.jpg



If that does not work, then inflation could be used to make old debt very small compared to current revenues. That assumes that government CAN run on positive cash flow.


PS Do you feel Trump will double the debt during his 8 years like 0bama did?

that explains why so many blue states are near bankrupt:lol:

I don't know where all these Trump spending cuts are coming from. He hasn't given any indication it's on the agenda as he aims for a $1-1.5 Trillion Infrastructure plan. He hopes to have anywhere from 50-80% privately funded depending on the source but I haven't heard anything from any level of the government indicating a deficit reduction.

You underestimate the 'popularity' of 0bama. He is the most popular president since Bill Clinton.

I would just love the 2020 election to pit President Donald J. Trump versus the policies and record of one Barry Obama. This 'campaign', so to speak, will result in The Donald's final and complete eradication of America's Biggest Mistake.

But it will not happen simply because Barry O lacks the will, the brainzs and the ballz to compete despite 100+ per cent support by the discredited media. Plus, since Trump, the country realizes how large a loser Barry's failed tenure actually was.

And note, Barry's probable surrogates are an even bigger joke -- Corey Booker, Joe Biden, Kamala Harris ...

Bring it on!

Sorry, but there's tremendous hypocrisy on the deficit issue from both sides.

Many Democrats are pretty honest about it. They want to tax a lot more and spend a lot more. Irrational, but honest.

The dims will not be running on 0bamas policies, but will be using his charisma in the campaign for whomever...

w00t!

At least some conservatives still understand fiscal responsibility.

Deficit Hawks slam budget deal.

Chuck Schumer made it a point to say that Trump was no where to be found when this deal was made. He said Trump had no input whatsoever to bringing the two sides together. If I didn't see Schumer say this myself and read the post I would have figured elysy would have blamed Trump for this horrible deal... my, my.

Never forget when the two major parties get along ... well that means just one thing: the taxpayer-citizen gets screwed one way or the other.

FanDan... where have you been all these years?

Ever since the Pappy Bush days the GOP has proven that they were never in favor of fiscal order and responsibility. That was a big GOP lie, just like securing the border and building a wall was a big fat lie.

You knew that... just like all good conservatives who knew that also.

Wandering around in cyberspace, looking for cool things to post.

McConnell today:

https://pjmedia.com/news-and-politic...vert-shutdown/

Fandimbot, could you post a tweet about Nancy Pelosi's epic House speech? I heard it is 8 hours so far, and no signs of stopping soon....

Why certainly!

Just took a selfie! :ThmbUp:

http://distance-educator.com/wp-cont...l_Reality.jpeg

That's why we really need strong government leadership, for sharing stories. Because a few heart-wrenching stories are always more important in considering policy and legislation than the reality of the country and the common good.