Newsnews

Mon Feb 12, 2018, 10:05 PM

President Trump's Budget Would Add $7.2 Trillion in Federal Deficits Over 10 Years

(WASHINGTON) — President Donald Trump unveiled a $4.4 trillion budget for next year that heralds an era of $1 trillion-plus federal deficits and — unlike the plan he released last year — never comes close to promising a balanced ledger even after 10 years.

The growing deficits reflect, in part, the impact of last year’s tax overhaul, which is projected to cause federal tax revenue to plummet. And Monday’s budget submission does not yet reflect last week’s two-year bipartisan $300 billion pact that wholly rejects Trump’s plans to slash domestic agencies. Tax revenue would plummet by $3.7 trillion over the 2018-27 decade, the budget projects.

The spending spree, along with last year’s tax cuts, has the deficit moving sharply higher with Republicans in control of Washington. Trump’s plan sees a 2019 deficit of $984 billion, though $1.2 trillion is more plausible after last week’s budget pact and $90 billion worth of disaster aid is tacked on. That’s more than double the 2019 deficit the administration promised last year.

All told, the new budget sees accumulating deficits of $7.2 trillion over the coming decade; Trump’s plan last year projected a 10-year shortfall of $3.2 trillion

http://time.com/5146313/donald-trump-budget-plan/

18 replies, 141 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 18 replies Author Time Post
Reply President Trump's Budget Would Add $7.2 Trillion in Federal Deficits Over 10 Years (Original post)
orson Monday OP
Shkreli Monday #1
quad489 Monday #2
marmot84 Monday #3
Daves Not Here Man Tuesday #8
marmot84 Tuesday #10
nolidad Tuesday #13
quad489 Tuesday #14
nolidad Tuesday #16
quad489 Tuesday #15
BigKahunna2.0 Monday #4
orson Tuesday #12
RATFINK_5.0 Monday #5
DoDaMan Monday #6
quad489 Tuesday #18
foia Tuesday #7
Daves Not Here Man Tuesday #9
FreeWheelBurning Tuesday #11
Deplorable Tuesday #17

Response to orson (Original post)

Mon Feb 12, 2018, 10:09 PM

1. The more money conservatives get, the less filthy Democrats can steal.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to orson (Original post)

Mon Feb 12, 2018, 10:11 PM

2. Funny how the govt debt suddenly matters to dems.................

Reply to this post

Back to top Alert abuse Link here Permalink


Response to quad489 (Reply #2)

Mon Feb 12, 2018, 10:25 PM

3. Odd that it suddenly doesn't matter

to Republicans.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to marmot84 (Reply #3)

Tue Feb 13, 2018, 08:03 AM

8. Jesus..that was an incredibly easy reply to knock back.

Nobody is even trying anymore. But hey, it wasn’t a post about Hillary. We may be making progress.

Reply to this post

Back to top Alert abuse Link here Permalink



Response to marmot84 (Reply #3)

Tue Feb 13, 2018, 03:40 PM

13. Which is sad for it still should!!!

But this guy is very questionable for he can't tell the difference between deficit and debt.

Trump will $7.2 trillion in debt not deficits! And if he is going to have trillion dollar deficits for years- how can the debt only average $720 billion a year? Does that mean he is going to run surpluses toward the end of the 10 years???

But this faux reporter from time does not know history.Every time somewhat substantial tax cuts were introduced- tax revenues dramatically increased!

The problem is not collecting enough revenue- it is controlling spending.

If we went back to federal spending only as the constitution is written, we would be running amazing surpluses at current levels right now and probably little to no accumulated debt.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to nolidad (Reply #13)

Tue Feb 13, 2018, 04:57 PM

14. Yep, and that is what the fed govt needs to do...start pushing back to the states the spending...

"If we went back to federal spending only as the constitution is written, we would be running amazing surpluses at current levels right now and probably little to no accumulated debt."

...that they should be responsible for. It's total BS when the fed govt is paying for a $1M water spray park in Miami (as happened via ARRA)...if Miami residents want one, let them pay for it.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to quad489 (Reply #14)

Tue Feb 13, 2018, 06:55 PM

16. YOu got that right!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to marmot84 (Reply #3)

Tue Feb 13, 2018, 05:00 PM

15. Yep, some repubs don't give a shit about nat'l debt either...odd that you have that same mindset.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to orson (Original post)

Mon Feb 12, 2018, 10:32 PM

4. Trump's projected 10 Trillion is a problem but Obama adding over 9 Trillion was OK??

From Dec. 2016....

Based on the website USdebtclock.com, which extrapolates the US national debt in real time based on committed government spending, the debt will be roughly $19.97 trillion when President-elect Donald Trump takes office on Friday.
Thus, the national debt under Obama will have grown by about $9 trillion, or an increase of 86%.

http://www.businessinsider.com/national-debt-deficit-added-under-president-barack-obama-2017-1

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BigKahunna2.0 (Reply #4)

Tue Feb 13, 2018, 10:13 AM

12. That could have something to do

with the fact that the spending on our Middle East adventure was kept off the books until Obama became president. You remember all those supplemental appropriations that never made into the budget while Shrub was in charge?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to orson (Original post)

Mon Feb 12, 2018, 10:38 PM

5. Obama is a better business-man. He was responsible

& paid off his debts.

Republicons only know how to lie & steal from the American people.

Then complain they don't get 'due process' while denying it to their own constituents.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to RATFINK_5.0 (Reply #5)

Mon Feb 12, 2018, 11:07 PM

6. Lol, paid of debt with more debt.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to RATFINK_5.0 (Reply #5)

Tue Feb 13, 2018, 08:21 PM

18. ''Obama is a better business-man''..sorry, selling weed/coke is not considered an honorable business

and thus doesn't count. Got any other businesses that Obama has successfully run to prove your claim???

Reply to this post

Back to top Alert abuse Link here Permalink


Response to orson (Original post)

Tue Feb 13, 2018, 02:34 AM

7. I do wish Trump were more fiscally conervative

But ANY president's budget is merely a suggestion because Congress is where it actually gets done.

Then all POTUS can do is sign or veto.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to foia (Reply #7)

Tue Feb 13, 2018, 08:08 AM

9. It is funny that the biggest sinkhole of our money..

is the government and we elect people to that very government in hopes THEY will be the ones to cut spending and reign it in.

Fox guarding the henhouse and all that. Lesson here is that we should all raise our kids to be foxes so that they too can get rich “fixing” our government.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Daves Not Here Man (Reply #9)

Tue Feb 13, 2018, 08:41 AM

11. It has been that way forat least as long as I have been following politics.

It will never change.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to orson (Original post)

Tue Feb 13, 2018, 06:58 PM

17. one of those calculations that considers welfare as a multiplier.

More money in the pockets of working americans and less for freeloaders and illegals. I predict a 7 trillion surplus.

Reply to this post

Back to top Alert abuse Link here Permalink

Newsnews