Study: Trump budget, tax plans add at least $10 trillion to debt

[na3]

Study: Trump budget, tax plans add at least $10 trillion to debt

http://www.mercurynews.com/2016/06/27/study-trump-budget-tax-plans-add-at-least-10-trillion-to-debt/

[Peter1469]

Those numbers are based off of static accounting from the CBO. It assumes economic growth of 1.9% for each year.

The Trump numbers consider economic expansion from less regulations and less taxes (CBO can't consider this by law), and assume a 3% growth. That would bring us close to a balanced budget for once in a long time.

[na3]

One wonders how increasing military spending and paying for infrastructure projects while cutting taxes and starting a trade war will reduce the debt.

[Kalkin]

Cut everything. Not "military first", everything.

[stjames1_53]

One wonders how increasing military spending and paying for infrastructure projects while cutting taxes and starting a trade war will reduce the debt.
you do know that about 5000 gov employees have lost jobs because they were redundant?
Pare the chaff from the wheat..........that alone saves us money.
Get the illegals off the gov dole that'll save us a ton of bucks

[na3]

The new boss is the same as the old boss.

[Crepitus]

Those numbers are based off of static accounting from the CBO. It assumes economic growth of 1.9% for each year.

The Trump numbers consider economic expansion from less regulations and less taxes (CBO can't consider this by law), and assume a 3% growth. That would bring us close to a balanced budget for once in a long time.

Except that the actual growth so far under his administration is closer to 1% than 3, or even 1.9.

I could put together a fabulous budget by imagining economic growth is gonna a triple too.

[Kalkin]

The new boss is the same as the old boss.

And his name is money.

[Peter1469]

One wonders how increasing military spending and paying for infrastructure projects while cutting taxes and starting a trade war will reduce the debt.

What grows an economy? What makes it harder for an economy to grow?

[Peter1469]

Except that the actual growth so far under his administration is closer to 1% than 3, or even 1.9.

I could put together a fabulous budget by imagining economic growth is gonna a triple too.
The first few quarters under Trump will be driven by Obama's policies. Wait and see. Trump cut a whole lot of useless regulation- that will be reflected in greater economic output.

And 3% is achievable. It is sort of the historic norm.

Interestingly, Trump and Macron have similar domestic economic policies.

[pjohns]

Study: Trump budget, tax plans add at least $10 trillion to debt



http://www.mercurynews.com/2016/06/27/study-trump-budget-tax-plans-add-at-least-10-trillion-to-debt/


I read the article.

Regrettably, nowhere did it state just how these numbers were discerned.

I am surmising, however, that they are based upon static scoring, rather than upon dynamic scoring.

Whereas it is probably too optimistic to declare (as some supply-side economists do) that tax cuts will fully pay for themselves, I think that they will mostly do so, through enhanced economic growth.

To pretend that all economic growth will be just the same, regardless of tax rates, is far too simplistic for my tastes...

[Crepitus]

The first few quarters under Trump will be driven by Obama's policies. Wait and see. Trump cut a whole lot of useless regulation- that will be reflected in greater economic output.

And 3% is achievable. It is sort of the historic norm.

Interestingly, Trump and Macron have similar domestic economic policies.

I will wait and see, but so far I ain't seen nuthin.

[Peter1469]

I will wait and see, but so far I ain't seen nuthin.
As I said, I don't expect you to see much- beyond Wall Street- that is up 17% this year. Had you been invested in an index fund that tracked the DOW you would be doing much better than anytime since the 1990s.

[Crepitus]

As I said, I don't expect you to see much- beyond Wall Street- that is up 17% this year. Had you been invested in an index fund that tracked the DOW you would be doing much better than anytime since the 1990s.

Woo-hoo, the wealthy got wealthier.

[Peter1469]

Woo-hoo, the wealthy got wealthier.

Don't forget the 401K plans. That isn't for the rich.

[Crepitus]

Don't forget the 401K plans. That isn't for the rich.

Ture enough, until we have a market correction. Which some folks are saying is overdue.

[Peter1469]

Ture enough, until we have a market correction. Which some folks are saying is overdue.

Investment professionals tell you to diversify.

[Peter1469]

We need more tax free investment opportunities. Who cares what the market increase is if your gains are not taxed at a high rate.

[pjohns]

Don't forget the 401K plans. That isn't for the rich.
And IRAs, also. (Both the traditional variety and the Roth variety.)

[na3]

There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.

[DGUtley]

I'm against more debt. I favor a BBA.

[na3]

You know the US has become insane today when:
The answer to endless wars is more wars.
The answer to the police state is more tyranny.
The answer to a dead economy is starting a trade war.
The answer to regulations is more laws.
The answer to endless debt is more debt.

[pjohns]

I'm against more debt. I favor a BBA.

I, too, favor a balanced-budget amendment to the Constitution.

But even that would be inadequate, as it would not address our current national debt--the interest on which which eats up an enormous portion of our annual budget.

[na3]

Blessed are the young, for they shall inherit the national debt.

[Peter1469]

Both major parties have given their grandchildren doom.

[DGUtley]

I, too, favor a balanced-budget amendment to the Constitution.
But even that would be inadequate, as it would not address our current national debt--the interest on which which eats up an enormous portion of our annual budget.

I am 54. Put it on my generation. Starve us. Take our SS by means testing. Don't give us Medicare. Over tax us. Whatever it takes. We are used to it. Whatever it takes. We were raised to go without, sacrifice and live off the land.

BUT -- FIX IT FOR MY KIDS -- Pay down the debt.

[Peter1469]

I am 54. Put it on my generation. Starve us. Take our SS by means testing. Don't give us Medicare. Over tax us. Whatever it takes. We are used to it. Whatever it takes. We were raised to go without, sacrifice and live off the land.

BUT -- FIX IT FOR MY KIDS -- Pay down the debt.

We won't end the deficit spending. Much less get to the debt.

[DGUtley]

We won't end the deficit spending. Much less get to the debt.

Eventually, we will. The questions will be whether we manage it or whether it crashes on us. It will happen. Eventually you won't be able to tax the 'rich' enough. Good thing Ohio is very gun-friendly as it will be the wild-west.

How long?

How long when Nudged by BLM-type & antifa groups?

[Peter1469]

Eventually, we will. The questions will be whether we manage it or whether it crashes on us. It will happen. Eventually you won't be able to tax the 'rich' enough. Good thing Ohio is very gun-friendly as it will be the wild-west.

How long?

How long when Nudged by BLM-type & antifa groups?

A crash - yes.

I don't know how long since the USD is the world reserve currency. If that changed, a crash would be immediate.

[na3]

I expect to see trade wars, foreign policy disasters, a few race riots, a decrease in personal liberty, higher taxes, higher inflation and probably, economic collapse. The silver lining is, secession will probably become more feasible.

[DGUtley]

I expect to see trade wars, foreign policy disasters, a few race riots, a decrease in personal liberty, higher taxes, higher inflation and probably, economic collapse. The silver lining is, secession will probably become more feasible.

I will be long gone; but, like I said: Good thing that Ohio is very gun-friendly.

Isn't that close to the amount WPOAT added? 10 trillion? At least I have been consistent. Our liberal friends were all for the debt then.

[na3]

Enjoy yourself. It's later than you think.