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Economics Discuss U.S. Posts Biggest Budget Deficit Since 2012 at the Political Forums; Oh look, after years of declining deficits under an ebil soshuwist Spendocrat, they're going back up under the fiscally conservative ...

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Old 03-12-2018, 10:03 PM
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Default U.S. Posts Biggest Budget Deficit Since 2012

Oh look, after years of declining deficits under an ebil soshuwist Spendocrat, they're going back up under the fiscally conservative Republican party, and a president who everyone who voted for him said he'd be great because he can business!

Golly gee. Who knew cutting revenues and increasing spending would lead to higher budget gaps?

You'd think after all these years of trashing Obama and the Democrats, that they would at a minimum try to tread water on the issue.

Quote:

The U.S. recorded a $215 billion budget deficit in February -- its biggest in six years -- as revenue declined.

Fiscal income dropped to $156 billion, down 9 percent from a year earlier, while spending rose 2 percent to $371 billion, the Treasury Department said on Monday. The deficit for the fiscal year that began in October widened to $391 billion, compared with a $351 billion shortfall the same period a year earlier, according to the Treasury report.

The data underscore concerns by some economists that Republican tax cuts enacted this year could increase the U.S. government debt load, which has surpassed $20 trillion. The tax changes are expected to reduce federal revenue by more than $1 trillion over the next decade, while a $300 billion spending deal reached by Congress in February could push the deficit higher.

Treasury Secretary Steven Mnuchin has said the tax cuts will pay for themselves through faster economic growth.

A combination of higher income tax refunds and a drop in the withholding of individual income and payroll taxes led to the reduction in receipts, according to an analysis by the Congressional Budget Office released last week.

“Increases in wages and salaries were more than offset by a decline in the share of wages withheld for taxes,” the CBO said. That trend reflects new guidance issued in January by the Internal Revenue Service over how much of employees’ paychecks should be withheld based on the new tax rules, according to the CBO.

The deficit in February was also impacted by the timing of certain payments, CBO said.

https://www.bloomberg.com/news/artic...itter-politics
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Old 03-12-2018, 10:18 PM
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Default Re: U.S. Posts Biggest Budget Deficit Since 2012

At one point Trump said he would pay off the entire $20 trillion debt in 8 years, just so we know what we're dealing with, or should have known.

Trump: I will eliminate U.S. debt in 8 years | TheHill

He never had any clue what he was talking about. He made sh-t up as he went along, and said whatever sounded good at the time. And far too many people bought this garbage.
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Old 03-13-2018, 12:42 AM
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Default Re: U.S. Posts Biggest Budget Deficit Since 2012

Duh...

Economics 101 says that the tax cuts will hit early, but once the markets start using those tax cuts to reinvest, the returns will be greater a year or two from now..

If you buy a dump truck in 2018 for $80,000, and that truck creates $50,000 worth of added revenue in 2018, you'll see a $30,000 loss off the bat...

...but that same truck creates $50,000 worth of added revenue in 2019, too...The truck is now paid off and you're $20,000 ahead...

...and then that same truck creates $50,000 worth of added revenue in 2020...Now you're the full $50,000 ahead...

$30,000 loss...$20,000 ahead...$50,000 ahead...

That's how it works...
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Old 03-13-2018, 02:28 PM
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Default Re: U.S. Posts Biggest Budget Deficit Since 2012

Quote:
Originally Posted by WallyWager View Post
At one point Trump said he would pay off the entire $20 trillion debt in 8 years, just so we know what we're dealing with, or should have known.

Trump: I will eliminate U.S. debt in 8 years | TheHill

He never had any clue what he was talking about. He made sh-t up as he went along, and said whatever sounded good at the time. And far too many people bought this garbage.
For the record, 2017 spending was authorized in 2016. Yes by Republicans.
THE very same Republicans who opposed THE Donald and now must work with him.
Can you say swamp creatures?

It will be impossible for President Trump to keep this promise as there are very few Republicans, or much less Democrats, who feel reducing our debt, by reducing our deficit, is healthy for their economies.


Again, can you say Swamp creatures????

Simple fact is we the People voted for these swampie. And the deficit was created by the people WE elected. So how about we stop complaining about the fact that WE will have to pay for this error of OUR judgment. A miss-judgement WE made every two years long before THE Donald thought to run for public office..

The people to blame start with Bush 41 and his congress and continue through B.H. Obama and his. All World Order advocates. And most of them still in office.
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Old 03-15-2018, 03:13 AM
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Default Re: U.S. Posts Biggest Budget Deficit Since 2012

Quote:
Originally Posted by cnredd View Post
Duh...

Economics 101 says that the tax cuts will hit early, but once the markets start using those tax cuts to reinvest, the returns will be greater a year or two from now..

If you buy a dump truck in 2018 for $80,000, and that truck creates $50,000 worth of added revenue in 2018, you'll see a $30,000 loss off the bat...

...but that same truck creates $50,000 worth of added revenue in 2019, too...The truck is now paid off and you're $20,000 ahead...

...and then that same truck creates $50,000 worth of added revenue in 2020...Now you're the full $50,000 ahead...

$30,000 loss...$20,000 ahead...$50,000 ahead...

That's how it works...
I think you need to go back to school. The "markets" are spending wildly all right, only they’re spending their tax scam cut windfall on themselves, not on boosting America’s economy.

Mainly, they’re pouring billions into buybacks...literally buying up shares of their own corporations’ stock. Which actually increases those shares value because there's less available. Basically making the rich richer and everyone else suckers.

Everything you said is bull****. If tRUmp and the GOP really wanted that money to go to the benefit of all they would have required the corporate recipients actually invest it in workers etc. Instead they just made suckers out of the tax payers.
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Old 03-15-2018, 11:41 AM
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Default Re: U.S. Posts Biggest Budget Deficit Since 2012

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I think you need to go back to school. The "markets" are spending wildly all right, only they’re spending their tax scam cut windfall on themselves, not on boosting America’s economy.
From CNBC at the end of January...

Quote:
Want to know what companies are doing now that corporate taxes have been slashed? We've got you covered.

Below is a list of S&P 500 companies that have announced bonuses, wage increases or other special investments based on the lower tax rate.

CNBC will update this list as more companies announce their plans.

Check out the list below:










A) These are JUST the Fortune 500 companies...Add thousands of more non-Fortune 500 companies...

B) This was from over 6 weeks ago...I'm sure many more have made such announcements...

C) Many have done stuff such as this without making announcements...


You can either say "Oh!....That's some decent positive stuff.".....OR you can take the senile-Pelosi-route and attack it as "crumbs"...
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Old 03-15-2018, 04:36 PM
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Default Re: U.S. Posts Biggest Budget Deficit Since 2012

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Originally Posted by cnredd View Post
From CNBC at the end of January...




A) These are JUST the Fortune 500 companies...Add thousands of more non-Fortune 500 companies...

B) This was from over 6 weeks ago...I'm sure many more have made such announcements...

C) Many have done stuff such as this without making announcements...


You can either say "Oh!....That's some decent positive stuff.".....OR you can take the senile-Pelosi-route and attack it as "crumbs"...
Sorry, but the tax scam wasn't sold to the American people as "Oh some decent positive stuff" that will mostly like 90% be used to make the rich richer. So excuse me for pointing out how Donald and the GOP conned American again.

Even if you give the tax cuts credit for all that, which I don't, because its a lot more nuanced than that. Yes, it is crumbs. Compared to what they are giving themselves.

Trump’s Tax Cuts in Hand, Companies Spend More on Themselves Than on Wages

https://www.nytimes.com/2018/02/26/b...corporate.html

Quote:
As the tax cuts kick in, companies have laid out a variety of uses for the money. Some are paying out one-time bonuses to employees. Others are raising salaries. Others plan to open new factories.

In the fourth quarter, American companies’ investments in things like factories and business equipment grew by 6.8 percent. That was the fastest growth rate since 2014, but far from the giant surge in capital spending that was promised ahead of the tax overhaul.

But the buying back of shares is also at record levels.

Almost 100 American corporations have trumpeted such plans in the past month. American companies have announced more than $178 billion in planned buybacks — the largest amount unveiled in a single quarter, according to Birinyi Associates, a market research firm.

Such purchases reduce a company’s total number of outstanding shares, giving each remaining share a slightly bigger piece of the profit pie.

Cisco said this month that in response to the tax package, it would bring back to the United States $67 billion of overseas cash, using $25 billion to finance additional share repurchases. Alphabet, the parent company of Google, authorized up to $8.6 billion in stock purchases. PepsiCo announced a fresh $15 billion in planned buybacks. Chip gear maker Applied Materials disclosed plans for a $6 billion program to buy shares. Late last month, home improvement retailer Lowe’s unveiled plans for $5 billion in purchases.

On Monday, Mr. Buffett said on CNBC that Berkshire might be open to buy some of its shares. The remarks helped send Berkshire’s stock — and the broader market — higher.

More buybacks are almost certainly on the way. UBS analysts covering Apple said the iPhone maker might authorize another $30 billion in share purchases when it reports its next quarterly earnings in April. That would be on top of the $30 billion it already spends each year to buy back its shares.

“I’m expecting buybacks to get to a record for 2018,” said Howard Silverblatt, a senior index analyst with S.&P. Dow Jones Indices. “And if I’m disappointed, there’s a lot of people with me.”
Quote:
the vast majority of the billions of dollars in planned share purchases will benefit the richest 10 percent of American households, who own 84 percent of all stocks. The top 1 percent of households own about 40 percent of all stocks.
Quote:
“Right now we’re going to have an adjustment where you see probably more dividends and share buybacks than wage increases,” Mr. Hassett said. “But going forward we’re going to see a lot of capital formation and wage growth.”

That is not what happened in 2005, when a one-time tax holiday allowed companies to repatriate money on the cheap. That plan, championed by President George W. Bush, was sold as a way to get American companies to invest more in the domestic economy.

Some $300 billion came back to the United States that year. But economists estimated that as much as 92 percent of it may have been paid out to companies’ shareholders — mostly in the form of buybacks.


Studies have shown that the tax change lifted companies’ stock prices but did not expand their American work forces.

Until the early 1980s, the practice of buying shares with corporate money was considered borderline illegal
because it was thought to potentially open the company up to charges of manipulating share prices.
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