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Gotcow?

Decreased Revenue + Increased Spending = 147Billion Dollar Month Deficit

59 posts in this topic

7 hours ago, epanzella said:

you do realize the deficit in Trump's first year is less than half of Obama's. So far Obama is the only president to run a deficit of over a Trillion dollars.  

They'll die before admitting something like that

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Posted (edited)

On 6/14/2018 at 2:21 PM, epanzella said:

From The Tax Policy Center Report;

 

Federal Tax Receipts in 2017    (actual)    3.316 Trillion dollars. Highest ever in the history of this country.

Federal Tax Receipts in 2018 (estimated) 3.40  Trillion. On track to be the next high revenue record.

 

Yeah, Trump was right yet again. This is getting boring!

Please don’t cloud their delusions with facts.... we don’t have enough safe spots or cat hats for the potential demand. 

 

That goes for you too Sudsy..... 

Edited by Jim DE

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14 hours ago, epanzella said:

Ha, I thought it was Patchy's thread. That's what happens when you say things that aren't true, it just sounds "lefty".

But it is true that last months revenues were down and spending is up.

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First half fiscal 2018 we were already at 600k deficit.  May not hit 1T annual deficit until next year but this year should be solidly in 800k range.  We will borrow close to 1T this year though.  

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18 hours ago, epanzella said:

That pattern doesn't always hold true. When George Bush signed the Tax Act of 2003 revenues steadily climbed to a peak of 2.5 trillion dollars in 2007 and 2008. Revenues under Obama dropped and didn't pass those of Bush 43 until 2013.

 

Yes, recessions have a way decreasing revenues.

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30 mins ago, Gamakatsu said:

 

Yes, recessions have a way decreasing revenues.

Tax cuts and rolling back regulations increase revenue. Do the opposite thing and get the opposite results. Obama's anti-business policies took a short recession and made it a long one. But all that's over now, we have a real president.

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Posted (edited)

On 6/15/2018 at 3:10 PM, JimW said:

Federal revenue has declined from about 18% in 2015 to about 17.5% in 2016 to a tick over 17% of gdp in 2017.  This is not increased revenue 

 

Read recently that revenue will need to be about 23.5% of gdp in a few years and forward.   

Why do the feds need 23.5% of gdp?

Edited by twilson615

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Let's 86 some of those goldbricking, public dole using, do nothing politician salaries. These elite will now have to go to work and become an earner. Put down the silver spoons ya schlubs!:howdy:

How much would be gained through attrition? That's a large chunk of the pie, and shame on these lazy do nothings! 

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On 6/15/2018 at 8:51 PM, Gotcow? said:

I'm a lefty?    :headscratch:

:lg_smile:

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On 6/16/2018 at 6:39 PM, Gotcow? said:

New President

Same ole overspending.

 

Digging the hole ever deeper.

Congress does the spending, not the president

TERM LIMITS !!!!

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Posted (edited)

1 hour ago, Sudsy said:

Congress does the spending, not the president

TERM LIMITS !!!!

Ok since the Reps were in control of the house for 6 years during the previous admin is it their fault for all the Obama deficits guys here always talk about??

 

It's actually both branches that have the problem and they both need to realize spending and revenue should match.

Edited by Jay Dog

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Posted (edited)

19 mins ago, Sudsy said:

Congress does the spending, not the president

TERM LIMITS !!!!

They don't spend squat with the signature of the President.

 

Term limits won't change anything.

Edited by Gotcow?

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It'll put a huge dent in pork spending - if they don't need to buy votes they can finally care more about the budget and the country then getting re-elected

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