Deficit Spending, Ds v Rs

[Vol Main]

 

[davethevol]

That’s got nothing to do with the economy.

 

[Orangeburst]

That’s got nothing to do with the economy.

Dave..dont waste your time

 

[Vol737]

Obama only “halved it” as a result of the sequestration procedure and was forced into automatic freezes and cuts. He still added $9 trillion or so to the debt. And Clinton was a smart enough and shrewd enough to work with a Republican Congress to make that happen. It wasn’t all Clinton on his own. The rest are shameful. Don’t bend the knee too hard. Your idols will let you break it.

 

[TheDeeble]

Trump got the deficit up partially with the Democrats support and votes. If they had their way it would have been even higher.

Neither side has any ground to stand on when it comes to the debt.

 

[Thunder Good-Oil]

Yet POTUS only submits his budget recommendation to congress. They have to authorize it.

 

[Septic]

Trump got the deficit up partially with the Democrats support and votes. If they had their way it would have been even higher.

Neither side has any ground to stand on when it comes to the debt.

And yet in your previous sentence, you tried so hard to appear to stand on the high ground that doesn't exist.

 

[LouderVol]

Woohoo spending!!!

 

[TheDeeble]

And yet in your previous sentence, you tried so hard to appear to stand on the high ground that doesn't exist.

Not really.

 

[Vol Main]

Yet POTUS only submits his budget recommendation to congress. They have to authorize it.

Yes, and I've noticed that Congresses led by Republican majorities increase spending massively when a Republican is in the White House, letting out the contracts and writing the checks. That is called corruption. When a Democrat is President, Republicans in Congress revert to extreme fiscal conservatism.

 

[Thunder Good-Oil]

Yes, and I've noticed that Congresses led by Republican majorities increase spending massively when a Republican is in the White House, letting out the contracts and writing the checks. That is called corruption. When a Democrat is President, Republicans in Congress revert to extreme fiscal conservatism.

Please share your findings with us. Mandatory spending, which is by far the bigger piece, is closely correlated with the Baby Boomers reaching retirement age. Which of the 3 sessions since Eisenhower are you referring to?

 

[Ashevolle]

Clinton is the only modern president who deserves praise on this issue. Everyone else has been somewhere between bad and worse.

Unless we cut military spending this is just the way it is.

 

[1972 Grad]

Clinton is the only modern president who deserves praise on this issue. Everyone else has been somewhere between bad and worse.

Unless we cut military spending this is just the way it is.

Clinton used some fancy accounting with the Social Security trust fund to get his numbers where he wanted them..

 

[Vol Main]

Please share your findings with us. Mandatory spending, which is by far the bigger piece, is closely correlated with the Baby Boomers reaching retirement age. Which of the 3 sessions since Eisenhower are you referring to?

Obama had some large deficits, but remember a couple of things. One, the 2009 budget was submitted by the Bush Administration. Obama was President that year, but the budget was submitted before he took office. Bush did leave emergency spending for the financial meltdown to be determined by Obama, but it was inline with the Bush projections. The Bush 43 recession required a lot of spending, in a much weakened economy with lower tax revenues. Also, Bush 43 financed the Iraq War with off the budget appropriations.

 

[ETV]

BHO's 2nd term doesn't count?

 

[Vol Main]

BHO's 2nd term doesn't count?

I did not make this chart. Why do you ask that question while ignoring the data shown in the chart? Why don't you talk about what's there?

The deficit increased dramatically in 2020, but Trump already had it on a moonshot trajectory before the covid, in a good economy.

 

[LouderVol]

Clinton is the only modern president who deserves praise on this issue. Everyone else has been somewhere between bad and worse.

Unless we cut military spending this is just the way it is.

Military spending, depending on how you want to frame it, is at worse third. And could be down to 5th.

In my life time mandatory welfare spending will be more than we bring in revenue. We are only like a trillion dollars off now.

 

[ETV]

I did not make this chart. Why do you ask that question while ignoring the data shown in the chart? Why don't you talk about what's there?

Considering every other POTUS is being compared on two terms, with the exception of 41, I say the data is incomplete or intentionally misleading.

 

[Vol Main]

Considering every other POTUS is being compared on two terms, with the exception of 41, I say the data is incomplete or intentionally misleading.

I'd say you are making excuses. Why don't you goto the Football Forum. Economics and politics are not sports, as you seem to view them.

 

[n_huffhines]

BHO's 2nd term doesn't count?

I believe that Obama spent even less in his second term, but don't quote me on that.

 

[n_huffhines]

Not only did the deficit increase substantially under Trump, it increased during a boom. That is absolutely pathetic and there is no rationale for that. It's just runaway spending. Trump, as dumb as he is, he knows government spending counts as GDP and so if DC recklessly spends your money he gets to brag to you about how well the economy is doing because of him. It's such a scam.

 

[Vol Main]

I believe that Obama spent even less in his second term, but don't quote me on that.

He definitely did. Some of the data is based on the numbers of dollars, but a lot of these charts are deficits as a percentage of GDP. Different economists have different ways of calculating data.

 

[Ashevolle]

Military spending, depending on how you want to frame it, is at worse third. And could be down to 5th.

In my life time mandatory welfare spending will be more than we bring in revenue. We are only like a trillion dollars off now.

Social Security and Medicare were collected for the express purpose of paying back to the citizenry. That's an IOU to all of us. If we cut those entitlements we also cut those revenue streams. The Feds can't make up any budget deficits by cutting citizen benefits without simply stealing from us all.

 

[LouderVol]

Social Security and Medicare were collected for the express purpose of paying back to the citizenry. That's an IOU to all of us. If we cut those entitlements we also cut those revenue streams. The Feds can't make up any budget deficits by cutting cutuzen benefits without simply stealing.

You mean stealing any more than they already are?

I love that.

Give me $100 today and I will maybe give you back somewhat less than $100 in 50 years, if you havent already died.

Only SS is kept in a separate pot. And considering that isnt actually held for the individuals, you cant really argue they are IOUs as the very idea is that people who dont put in get paid.

It's all socialism. People just want their version of socialism to be the only socialism there is.

 

[Ashevolle]

You mean stealing any more than they already are?

I love that.

Give me $100 today and I will maybe give you back somewhat less than $100 in 50 years, if you havent already died.

Only SS is kept in a separate pot. And considering that isnt actually held for the individuals, you cant really argue they are IOUs as the very idea is that people who dont put in get paid.

It's all socialism. People just want their version of socialism to be the only socialism there is.

It's still illegal to take that money and spend it on foreign debt interest payments or other things. If you want to wind down the programs, you have to wind down the collection of those funds. It's not a way to balance the budget. You would still need to raise taxes or cut actual non-entitlement programs.