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Mon Oct 7, 2019, 09:59 PM

Federal Deficit Estimated At $984B, Highest In Seven Years

The federal budget deficit for 2019 is estimated at $984 billion, a hefty 4.7 percent of gross domestic product (GDP) and the highest since 2012, the Congressional Budget Office (CBO) said on Monday.

The difference between federal spending and revenue has only ever exceeded $1 trillion four times, in the period immediately following the global financial crisis.

The deficit, which has grown every year since 2015, is $205 billion higher than it was in 2018, a jump of 26 percent.

The CBO has warned that the nation's debt is on an unsustainable path. Higher levels of debt increase borrowing costs, make it harder for the government to battle economic downturns and increase the share of future spending devoted to paying off interest costs.

Since President Trump took office, the GOP has passed a massive tax cut package that reduced revenue, while Democrats and Republicans have agreed to increase spending year after year.

More...

https://thehill.com/policy/finance/464764-federal-deficit-estimated-at-984b-highest-in-seven-years

46 replies, 231 views

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Reply Federal Deficit Estimated At $984B, Highest In Seven Years (Original post)
RCW2014 Oct 7 OP
quad489 Oct 7 #1
DillyDilly500 Oct 7 #4
quad489 Oct 7 #5
DillyDilly500 Oct 7 #6
quad489 Oct 7 #8
quad489 Tuesday #9
Salaam Wednesday #27
foia Oct 7 #2
oflguy Tuesday #12
Salaam Oct 7 #3
quad489 Tuesday #10
oflguy Tuesday #13
quad489 Tuesday #14
Salaam Wednesday #16
quad489 Wednesday #20
Salaam Wednesday #22
quad489 Wednesday #32
Salaam Wednesday #34
quad489 Wednesday #43
oflguy Wednesday #40
quad489 Wednesday #44
oflguy Oct 7 #7
quad489 Tuesday #11
Salaam Wednesday #17
oflguy Wednesday #19
Salaam Wednesday #23
oflguy Wednesday #28
Salaam Wednesday #31
oflguy Wednesday #36
Salaam Wednesday #37
uncledad Thursday #46
quad489 Wednesday #21
Salaam Wednesday #24
quad489 Wednesday #25
Salaam Wednesday #26
oflguy Wednesday #29
Steelydamned Wednesday #33
Salaam Wednesday #35
Steelydamned Wednesday #38
Salaam Wednesday #41
Steelydamned Wednesday #42
oflguy Thursday #45
oflguy Wednesday #39
Steelydamned Tuesday #15
oflguy Wednesday #30
Steelydamned Wednesday #18

Response to RCW2014 (Original post)

Mon Oct 7, 2019, 10:03 PM

1. ''The deficit, which has grown every year since 2015''...gee, who was in office then???

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Response to quad489 (Reply #1)

Mon Oct 7, 2019, 10:15 PM

4. gee, who's in office now for nearly 3 years?

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Response to DillyDilly500 (Reply #4)

Mon Oct 7, 2019, 10:20 PM

5. Trump was in office in 2015??? Wow, never knew that................

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Response to quad489 (Reply #5)

Mon Oct 7, 2019, 10:26 PM

6. What is it about "nearly" don't you understand?


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Response to DillyDilly500 (Reply #6)

Mon Oct 7, 2019, 10:51 PM

8. What part of ''The deficit, which has grown every year since 2015'' don't you fracking comprehend???

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Response to quad489 (Reply #8)

Tue Oct 8, 2019, 06:15 AM

9. Ya, I figured as much.....ya fracking PHP!!!

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Response to quad489 (Reply #9)

Wed Oct 9, 2019, 10:05 PM

27. responding to yourself?

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Response to RCW2014 (Original post)

Mon Oct 7, 2019, 10:14 PM

2. Doesn't matter. The world's gonna end in 12 years.

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Response to foia (Reply #2)

Tue Oct 8, 2019, 08:08 AM

12. Good point

But aren't we down to 11 years by now?

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Response to RCW2014 (Original post)

Mon Oct 7, 2019, 10:15 PM

3. Donnie promised to eliminate that deficit.

Promises made, promises broken.

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Response to Salaam (Reply #3)

Tue Oct 8, 2019, 06:17 AM

10. Uh, doesn't Pelosi (D) control the House of Reps?

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Response to quad489 (Reply #10)

Tue Oct 8, 2019, 08:11 AM

13. Typical Lefty

They don't understand that all spending originates in the House.

What's that old saying? When you point one at me, you point three at yourself?

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Response to oflguy (Reply #13)

Tue Oct 8, 2019, 08:21 AM

14. Dem-lefties like ignoring the FACT that they controlled both houses years before the '08 crash......

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Response to quad489 (Reply #10)

Wed Oct 9, 2019, 07:52 PM

16. tax cut.

GOP controlled House.

Put them together quaddie and tell me what you get.

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Response to Salaam (Reply #16)

Wed Oct 9, 2019, 09:41 PM

20. Bummer that DEMs have controlled the house since January, else your excuses might mean something....

"tax cut. GOP controlled House."

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Response to quad489 (Reply #20)

Wed Oct 9, 2019, 09:58 PM

22. so you already forgot Ryan was Speaker when the GOP tax plan passed?

LOL

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Response to Salaam (Reply #22)

Wed Oct 9, 2019, 10:09 PM

32. LOL...blaming Ryan and the GOP for the DEMs over spending problem...LOL!!!

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Response to quad489 (Reply #32)

Wed Oct 9, 2019, 10:10 PM

34. right wing history.

LOL

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Response to Salaam (Reply #34)

Wed Oct 9, 2019, 10:33 PM

43. Seriously...you don't know who has been in control of the house of reps since january 2019 ???

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Response to quad489 (Reply #32)

Wed Oct 9, 2019, 10:18 PM

40. I've never met a democrat that wasn't in love with tax increases

I'm confident that's not going to change

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Response to oflguy (Reply #40)

Wed Oct 9, 2019, 10:35 PM

44. They sure love spending....which probably explains why consumer debt keeps increasing.

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Response to RCW2014 (Original post)

Mon Oct 7, 2019, 10:37 PM

7. With democrats holding the purse strings, forget about the deficit coming down

Much less the national debt

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Response to oflguy (Reply #7)

Tue Oct 8, 2019, 06:20 AM

11. As you know, with these dem-lefties, everything negative is ALWAYS someone else's fault...

...yet they'll pull their shoulders out patting themselves on the back for everything positive...like crediting Obama for all the positives happening TWO (2) years after he left town to continue his blame whitey bash America tour.

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Response to oflguy (Reply #7)

Wed Oct 9, 2019, 07:53 PM

17. The orange moron ran up the deficit.

Ryan and McConnell passed the tax cuts that ran up the deficit.

Wasn't that long ago ofg.

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Response to Salaam (Reply #17)

Wed Oct 9, 2019, 09:29 PM

19. and Obama doubled the national debt

Democrats have been in control of the House going on two years now

First, Trump had to rebuild the military that Obama destroyed

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Response to oflguy (Reply #19)

Wed Oct 9, 2019, 09:59 PM

23. good FAUX news talking points.

but no relation to what actually happened.

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Response to Salaam (Reply #23)

Wed Oct 9, 2019, 10:05 PM

28. My post was spot on

You just don't like hearing the facts

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Response to oflguy (Reply #28)

Wed Oct 9, 2019, 10:08 PM

31. yep, it was on.

LOL

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Response to Salaam (Reply #31)

Wed Oct 9, 2019, 10:12 PM

36. Truth hurts

but that's too bad

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Response to oflguy (Reply #36)

Wed Oct 9, 2019, 10:14 PM

37. LOL

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Response to Salaam (Reply #23)

Thu Oct 10, 2019, 12:46 PM

46. Debt by POTUS

Donald Trump: As projected in Table S-10 in the FY 2020 budget, Trump plans to add $5.088 trillion to the debt in his first term. That's a 30% increase from the $20.245 trillion debt at the end of Obama's last budget for FY 2017. If he remains in office for a second term, he plans to add $9.1 trillion. Trump had promised to eliminate the debt during his campaign.

https://www.thebalance.com/trump-plans-to-reduce-national-debt-4114401

Barack Obama: Added $8.588 trillion, a 74% increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.

George W. Bush: Added $5.849 trillion, a 101% increase from the $5.8 trillion debt at the end of Clinton's last budget, FY 2001.

Bill Clinton: Added $1.396 trillion, a 32% increase from the $4.4 trillion debt at the end of George H.W. Bush's last budget, FY 1993.

George H.W. Bush: Added $1.554 trillion, a 54% increase from the $2.857 trillion debt at the end of Reagan's last budget, FY 1989.

Ronald Reagan: Added $1.86 trillion, a 186% increase from the $998 billion debt at the end of Carter's last budget, FY 1981.

https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

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Response to Salaam (Reply #17)

Wed Oct 9, 2019, 09:42 PM

21. ''the tax cuts that ran up the deficit''...wow, you really don't know how deficits happen do you???

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Response to quad489 (Reply #21)

Wed Oct 9, 2019, 10:00 PM

24. LOL quaddie.

So you forgot Ryan was Speaker?

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Response to Salaam (Reply #24)

Wed Oct 9, 2019, 10:02 PM

25. ''Ryan was Speaker''...really??? Ryan has been speaker of the house all this year, not Pelosi???????

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Response to quad489 (Reply #25)

Wed Oct 9, 2019, 10:04 PM

26. give it up.

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Response to quad489 (Reply #21)

Wed Oct 9, 2019, 10:06 PM

29. They think all our money belongs to them

and keeping our money, to them, means taking it away from them.

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Response to Salaam (Reply #17)

Wed Oct 9, 2019, 10:10 PM

33. So Salaam...

....what's the solution? Raise taxes or cut spending? Bearing in mind of course that no matter how much is raised the government will still run a deficit and continue to rack up debt.

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Response to Steelydamned (Reply #33)

Wed Oct 9, 2019, 10:11 PM

35. both.

put taxes on the rich back to where they were in 1950. It was good enough for Ike and the country.

and follow Ike's advice and cut spending on the military.

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Response to Salaam (Reply #35)

Wed Oct 9, 2019, 10:16 PM

38. So...

...just "the rich?" I have no issues with cutting spending and advocate a 10% across the board cut for all Departments.

But since you brought it up, how many do you suppose paid those astronomically high rates?

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Response to Steelydamned (Reply #38)

Wed Oct 9, 2019, 10:18 PM

41. I didn't say 10% across the board.

and that 90% was the top marginal rate. Most didn't pay that top rate.

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Response to Salaam (Reply #41)

Wed Oct 9, 2019, 10:21 PM

42. No...

...I'm advocating the 10% cuts. And, why push for higher rates that most wont pay?

I got a decent tax cut. Am I rich? Should I be forced to go back to the higher rates and pay more?

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Response to Salaam (Reply #41)

Thu Oct 10, 2019, 11:26 AM

45. Try 92% Eisenhower's first year

and 91% every year after that.

I'm sure you think that is not enough.

Try checking your "facts" next time

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Response to Salaam (Reply #35)

Wed Oct 9, 2019, 10:16 PM

39. 92% is still not high enough for you

Obama's father said it should be 100% I bet you agree

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Response to RCW2014 (Original post)

Tue Oct 8, 2019, 09:04 AM

15. It would appear that...

....bringing troops home and shutting down military ops in foreign lands would be a huge cost savings.....dontcha think?

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Response to Steelydamned (Reply #15)

Wed Oct 9, 2019, 10:08 PM

30. They can't make up their minds

In one thread they complain about the deficit

In the next one they complain about saving taxpayer money.

They are so CONFUSED

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Response to RCW2014 (Original post)

Wed Oct 9, 2019, 08:33 PM

18. So should......

...taxes be raised again or, expenditures cut?

This is a rhetorical question as when it comes to belt tightening, its ALWAYS saddled on the People....and NEVER the Government.

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