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02-12-2018, 02:14 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
He's doing exactly what Reagan did - radically increasing the national debt. In Trump's case, the deficit will be ~$1 trillion a year over the next decade.
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That's assuming low economic growth, no spending controls and a tax base that doesn't get wider. That's not what's happening, though.
Just like your dire assessment last week that Trump's tax cut caused a " 1000 point drop in the Dow" (the Dow has erased 1/2 of those losses in the last two days and will continue its upward trend because the long term outlook for continued growth is positive), you're demonstrating your understanding of the economy is limited to Dem talking points.
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02-12-2018, 02:59 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,919
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Quote:
Originally Posted by whell
That's assuming low economic growth, no spending controls and a tax base that doesn't get wider. That's not what's happening, though.
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WASHINGTON (Reuters) - As the U.S. Congress limps toward the likely passage next week of another stopgap spending bill to avert a government shutdown, a Washington think tank has estimated the federal budget deficit is on track to blow through $1 trillion in 2019.
If it does, it would be the first time since 2012 the U.S. economy will have to support a deficit so large, highlighting a basic shift for the Republican Party, which has traditionally prided itself on fiscal conservatism.
The Committee for a Responsible Federal Budget, a Washington fiscal watchdog, said the red ink may rise in fiscal 2019 to $1.12 trillion. If current policies continue, it said, the deficit could top a record-setting $2 trillion by 2027.
https://www.reuters.com/article/us-u...-idUSKBN1FI2P2
These aren't Dem talking points, dimwit. Trump's own Treasury Dept just announced that it will need to borrow $3 trillion in the next 3 years.
https://www.cnbc.com/2018/02/05/trea...re-beyond.html
I guess you simply like being lied to by supply-siders who have never once been proven right.
__________________
As long as the roots are not severed, all will be well in the garden.
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02-12-2018, 04:16 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by finnbow
WASHINGTON (Reuters) - As the U.S. Congress limps toward the likely passage next week of another stopgap spending bill to avert a government shutdown, a Washington think tank has estimated the federal budget deficit is on track to blow through $1 trillion in 2019.
If it does, it would be the first time since 2012 the U.S. economy will have to support a deficit so large, highlighting a basic shift for the Republican Party, which has traditionally prided itself on fiscal conservatism.
The Committee for a Responsible Federal Budget, a Washington fiscal watchdog, said the red ink may rise in fiscal 2019 to $1.12 trillion. If current policies continue, it said, the deficit could top a record-setting $2 trillion by 2027.
https://www.reuters.com/article/us-u...-idUSKBN1FI2P2
These aren't Dem talking points, dimwit. Trump's own Treasury Dept just announced that it will need to borrow $3 trillion in the next 3 years.
https://www.cnbc.com/2018/02/05/trea...re-beyond.html
I guess you simply like being lied to by supply-siders who have never once been proven right.
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Really? The Treasury increased its borrowing - according to the CBO anyway - because projections for tax revenue are down due to the tax cut. Does anyone really think that tax revenue will be lower in 2018 than it was in 2017? Really?
Your CRFB post about the budget suggested that Trump's budget projected a 2.9% GDP growth and that projection was "rosy" and "strained credulity" because other "mainstream" organizations projections were much lower. LOL!! As I recently posted, the Conference Board was projecting 2.9%, and they're pretty damn mainstream. Even the New York Fed recently bumped up their projection to 2.75% recently. Is that "much lower" than 2.9%? I also suspect they'll bump it up some more later this year.
You can believe whatever you want, Finn. You have a gift for ignoring strong evidence to the contrary.
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10-24-2018, 12:38 PM
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Senior Member
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Join Date: Mar 2017
Posts: 13,366
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Quote:
Originally Posted by whell
Really? Does anyone really think that tax revenue will be lower in 2018 than it was in 2017? Really?
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Small wonder you won’t show your ignorant face around here anymore, dumbass. Yes, real tax revenues are lower in 2018. Significantly lower. With the huge tax cut for the rich, how could they not be?
http://www.crfb.org/blogs/has-revenue-risen-2018
__________________
"In a time of deceit telling the truth is a revolutionary act." -
George Orwell
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02-12-2018, 03:22 PM
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Admin
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Join Date: Dec 2011
Location: Behind the Orange Curtain in California
Posts: 37,237
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Quote:
Originally Posted by whell
That's assuming low economic growth, no spending controls and a tax base that doesn't get wider. That's not what's happening, though.
Just like your dire assessment last week that Trump's tax cut caused a " 1000 point drop in the Dow" (the Dow has erased 1/2 of those losses in the last two days and will continue its upward trend because the long term outlook for continued growth is positive), you're demonstrating your understanding of the economy is limited to Dem talking points.
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Weak sauce, Mike.
__________________
I don't know half of you half as well as I should like, and I like less than half of you half as well as you deserve.
- Mr. Underhill
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02-12-2018, 03:53 PM
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Senior Member
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Join Date: Aug 2010
Location: Metro Detroit
Posts: 13,016
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Quote:
Originally Posted by bobabode
Weak sauce, Mike.
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Leave it to you to suggest that the truth is "weak".
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02-12-2018, 04:16 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,919
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Quote:
Originally Posted by whell
Leave it to you to suggest that the truth is "weak".
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Your parroting of discredited GOP supply-side dogma and Trump budget sophistry is "truth?" Who knew?
__________________
As long as the roots are not severed, all will be well in the garden.
Last edited by finnbow; 02-12-2018 at 04:47 PM.
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02-12-2018, 04:24 PM
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Admin
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Join Date: Dec 2011
Location: Behind the Orange Curtain in California
Posts: 37,237
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Quote:
Originally Posted by whell
Leave it to you to suggest that the truth is "weak".
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Right. It's funny that in all of your interactions here where you've lost the argument, you resort to lying and invective.
Carry on, dude. It's comical to watch you flail about.
__________________
I don't know half of you half as well as I should like, and I like less than half of you half as well as you deserve.
- Mr. Underhill
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