Federal deficit highest in 7 years

[Peter1469]

Have you noticed that not one comment here was blaming Trump? Man, it’s good we have a record of how the same members were blaming Obama for the deficit when he was in office.

Trump said deficits were good while interest rates are down during the campaign. I said that was wrong at the time.

I stopped voting (R) in 2006 because they spend like drunken democrats.

[DGUtley]

Have you noticed that not one comment here was blaming Trump? Man, it’s good we have a record of how the same members were blaming Obama for the deficit when he was in office.

@Safety -- Good to see you're back.

I have blamed Trump.
I have blamed Congress.
I have blamed D's.
I have blamed R's.
I have blamed the American Sheeple.

I am on record here for all of the above. As for Chairman Maobama's spending, I was also critical of him. Remember, sequestration was his idea and then he couldn't handle it. I do recognize that spending bills originate in the House but I remember the battles over the budget. He bears responsibility for a good share of this - even with a R congress. JMNSHO.

Personally, I'd have not cut personal income taxes but I'd have slashed spending. I'd also eliminate baseline budgeting, go to a two or three year budget cycle while requiring every department to justify every dollar from $1.00.

DGU.

[Cotton1]

@Safety -- Good to see you're back.

I have blamed Trump.
I have blamed Congress.
I have blamed D's.
I have blamed R's.
I have blamed the American Sheeple.

I am on record here for all of the above. As for Chairman Maobama's spending, I was also critical of him. Remember, sequestration was his idea and then he couldn't handle it. I do recognize that spending bills originate in the House but I remember the battles over the budget. He bears responsibility for a good share of this - even with a R congress. JMNSHO.

Personally, I'd have not cut personal income taxes but I'd have slashed spending. I'd also eliminate baseline budgeting, go to a two or three year budget cycle while requiring every department to justify every dollar from $1.00.

DGU.

I think you bring very valid points to the table. We need to cut back on military. If we arent willing to turn an adversary into a crater we have no business there. We need a federal sales tax. We need to up taxes on the middle class. Trickle down is not usually applicable to being an effective part of the risk/reward equations in that bracket. If they dont like it they can offset most or all of it through their own initiative opening roths , keogh , 529 for college and write the contribution off their gross taxable. Roths are sugar to candy. They do not have the time burdens that annuities and 401' have. They can be funded in many ways such as annuitization of an annuity etc.

[donttread]

Federal deficit highest in 7 years

This is maddening.

Bushbamaump spends like a teenage girl at a mall with mom and dad's credit card.

[donttread]

I agree. Let's cut social spending and redistribution.
Governments were created for mutual defense and protecting vitizens from each other (laws and enforcement) not to punish the successful and payoff the losers for votes.

OK, after the super rich pay back the monies they gained from buying a tilted table.

[DGUtley]

I think you bring very valid points to the table. We need to cut back on military. If we arent willing to turn an adversary into a crater we have no business there. We need a federal sales tax. We need to up taxes on the middle class. Trickle down is not usually applicable to being an effective part of the risk/reward equations in that bracket. If they dont like it they can offset most or all of it through their own initiative opening roths , keogh , 529 for college and write the contribution off their gross taxable. Roths are sugar to candy. They do not have the time burdens that annuities and 401' have. They can be funded in many ways such as annuitization of an annuity etc.

We do not need a federal sales tax. We are taxed enough. We have a spending problem, not a revenue problem.

[Crepitus]

Have you noticed that not one comment here was blaming Trump? Man, it’s good we have a record of how the same members were blaming Obama for the deficit when he was in office.

Well, all that money went to rich people. Rich people are always right, and deserve more money. Republican Jesus says so.

[carolina73]

Trump: "I could shoot someone on 5th Ave. and not lose a single vote"...The son of a $#@! was right...

You can't give something away by not taking it. That is a ridiculous statement.

The Socialist countries (as Democrats call them) all start at a 30% tax rate with zero deductions for anyone making over $5000 a year! Capital gains becomesregular income.

Oddly enough, that is the flat rate that we would need on personal income in the US to have a balanced budget. That does not include your state taxes.

I am already very close to that number so I am paying my fair share.

How about you? Are you ready to be a good Democrat and share your wealth with us. To pay your fair share? If you are making $10 an hour or $20,000 annual then that means your share is $3 an hour or $6000.

The fun part of this for me would be to see Obama, Buffet, Biden, Gates, Romney and these people praising higher income taxes because they do not pay them actually having to pay them.

Maybe then you will demand Congress cut spending instead and realize that free is not free when government supplies it. Spending is the sin of both parties and used to buy votes.

[MisterVeritis]

@Safety -- Good to see you're back.

I have blamed Trump.
I have blamed Congress.
I have blamed D's.
I have blamed R's.
I have blamed the American Sheeple.

I am on record here for all of the above. As for Chairman Maobama's spending, I was also critical of him. Remember, sequestration was his idea and then he couldn't handle it. I do recognize that spending bills originate in the House but I remember the battles over the budget. He bears responsibility for a good share of this - even with a R congress. JMNSHO.

Personally, I'd have not cut personal income taxes but I'd have slashed spending. I'd also eliminate baseline budgeting, go to a two or three year budget cycle while requiring every department to justify every dollar from $1.00.

DGU.

I would have made even steeper cuts for the people who pay nearly all of the federal taxes.

What can President Trump do about the majority of the budget (3/4ths?) that is on automatic pilot (Congress did not want to be bothered with setting priorities)?

You cannot slash spending. Almost all of it grows automatically.

Now what?

[DGUtley]

I would have made even steeper cuts for the people who pay nearly all of the federal taxes. What can President Trump do about the majority of the budget (3/4ths?) that is on automatic pilot (Congress did not want to be bothered with setting priorities)? You cannot slash spending. Almost all of it grows automatically. Now what?

As I said, we have to eliminate baseline budgeting. I understand and appreciate what you say about cutting personal taxes but to me the deficit is more problematic than my personal pocket. We have to tackle the untouchables. If we don't, I think we'll crash. Then what?