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Thread: Budget deficit soars first two months of fiscal year

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    Budget deficit soars first two months of fiscal year

    Budget deficit soars first two months of fiscal year

    Tax revenue is up 3% but spending is up 18%- I have always said it isn't taxes, it is spending.

    The country's budget deficit in the first two months of fiscal 2019, which began Oct. 1, was 50 percent higher than in the same period the previous year, according to the Congressional Budget Office (CBO), though the figure was inflated by timing.


    In October and November, the federal government spent $303 billion more than it took in, compared to $202 billion in the same period of fiscal 2018, according to the CBO.




    Tax revenues were just 3 percentage points higher than the previous year, largely because of the GOP tax law, while spending surged 18 percent.
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    Trump needs to get this under control. Shut the government down as long as it takes. He is disappointing in this. I didn't vote for trillion dollar deficits in a booming economy. The time to go all out on the spending is now. He made a promise I expect it to be kept.


    We don't need another Obama economic mess.
    Liberals are a clear and present danger to our nation
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    Quote Originally Posted by Captdon View Post
    Trump needs to get this under control. Shut the government down as long as it takes. He is disappointing in this. I didn't vote for trillion dollar deficits in a booming economy. The time to go all out on the spending is now. He made a promise I expect it to be kept.

    We don't need another Obama economic mess.
    Another "Obama economic mess", what the heck are you talking about, or do you know what you're talking about? Obama inherited a catastrophic financial disaster from the Republicans. The big hedge fund banks were bailed out and sold off U.S. subprime mortgage debt to countries like Belgium.

    The country was not struggling financially when Trump took office. Absolutely not. Trump inherited a booming economy with low unemployment and steady job growth, an easy win on day one, and he quickly claimed credit. Early in his presidency, Trump boasted about job gains starting from his election onward, crediting Obama's final months as his own.

    The U.S. economy was struggling when Obama took office in 2009. He inherited a dismal economy in the middle of a deep recession that lasted 18 months, a recession that many people thought would become a depression, and was able to turn it around in the first years of his presidency. The U.S. is now its 10th year of economic growth, and in its longest period of growth with 95 straight months of job creation. The bulk of that decade of growth was under Obama’s presidency, and can fairly be credited to him.

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    Quote Originally Posted by Captdon View Post
    Trump needs to get this under control. Shut the government down as long as it takes. He is disappointing in this. I didn't vote for trillion dollar deficits in a booming economy. The time to go all out on the spending is now. He made a promise I expect it to be kept.


    We don't need another Obama economic mess.
    You do realize he’s pushing for a shutdown so he can INCREASE spending, right?
    "Those who produce should have, but we know that those who produce the most — that is, those who work hardest, and at the most difficult and most menial tasks, have the least."
    - Eugene V. Debs (1855-1926), five-time Socialist Party candidate for U.S. President

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    Quote Originally Posted by HumblePi View Post
    Another "Obama economic mess", what the heck are you talking about, or do you know what you're talking about? Obama inherited a catastrophic financial disaster from the Republicans. The big hedge fund banks were bailed out and sold off U.S. subprime mortgage debt to countries like Belgium.

    The country was not struggling financially when Trump took office. Absolutely not. Trump inherited a booming economy with low unemployment and steady job growth, an easy win on day one, and he quickly claimed credit. Early in his presidency, Trump boasted about job gains starting from his election onward, crediting Obama's final months as his own.

    The U.S. economy was struggling when Obama took office in 2009. He inherited a dismal economy in the middle of a deep recession that lasted 18 months, a recession that many people thought would become a depression, and was able to turn it around in the first years of his presidency. The U.S. is now its 10th year of economic growth, and in its longest period of growth with 95 straight months of job creation. The bulk of that decade of growth was under Obama’s presidency, and can fairly be credited to him.
    Pay attention and learn something. The recession ended in July 2009. Obama hadn't done anything yet. What he did what double the deficit. He ran an average of 1.3 trillion dollar deficit.

    The jobs created under him were low paying, no future jobs. He said that manufacturing would never come back and Trump is bringing them back. Obama didn't know what he was doing. The recession was ending. You got that?

    I was lucky. I retired when Obama was elected. I took my money and hid it.
    Last edited by Captdon; 12-11-2018 at 10:08 PM.
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    Quote Originally Posted by Captdon View Post
    Trump needs to get this under control. Shut the government down as long as it takes. He is disappointing in this. I didn't vote for trillion dollar deficits in a booming economy. The time to go all out on the spending is now. He made a promise I expect it to be kept.


    We don't need another Obama economic mess.
    I don't think Trump cares about deficits.
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    Quote Originally Posted by HumblePi View Post
    Another "Obama economic mess", what the heck are you talking about, or do you know what you're talking about? Obama inherited a catastrophic financial disaster from the Republicans. The big hedge fund banks were bailed out and sold off U.S. subprime mortgage debt to countries like Belgium.

    The country was not struggling financially when Trump took office. Absolutely not. Trump inherited a booming economy with low unemployment and steady job growth, an easy win on day one, and he quickly claimed credit. Early in his presidency, Trump boasted about job gains starting from his election onward, crediting Obama's final months as his own.

    The U.S. economy was struggling when Obama took office in 2009. He inherited a dismal economy in the middle of a deep recession that lasted 18 months, a recession that many people thought would become a depression, and was able to turn it around in the first years of his presidency. The U.S. is now its 10th year of economic growth, and in its longest period of growth with 95 straight months of job creation. The bulk of that decade of growth was under Obama’s presidency, and can fairly be credited to him.
    Obama oversaw the most flaccid economic recovery in US history.
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    Quote Originally Posted by Green Arrow View Post
    You do realize he’s pushing for a shutdown so he can INCREASE spending, right?
    He can deal with anything he wants. He needs to.

    As for you: the Wall would save more in welfare than it costs...by far.
    Liberals are a clear and present danger to our nation
    Pick your enemies carefully.






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    Quote Originally Posted by Peter1469 View Post
    I don't think Trump cares about deficits.
    That's obvious. He said as much during his campaign.

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    Quote Originally Posted by Peter1469 View Post
    Obama oversaw the most flaccid economic recovery in US history.
    He said today's figures for economic growth were impossible. He also said most of the jobs which have come back were lost forever.

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