U.S. Budget Deficit Widens 11.8% in First Quarter of Fiscal Year

Fiscal conservatives never existed. FCINO.

 

And the prez signs it. Giving it the A OK.

 

How many times did it shut down when Obama was prez?

And I believe the so called CINO loved it then, because it saved money.

 

Um, Happened before Obama.

The Top Five Contributors by Percentage
Franklin D. Roosevelt: President Roosevelt had the largest percentage increase. Although he only added $236 billion, this was a 1,048% increase from the $23 billion debt level left by President Herbert Hoover. The Great Depression took an enormous bite out of revenues. The New Deal cost billions. But the biggest cost was World War II. It added $209 billion to the debt between 1942 and 1945.3


Woodrow Wilson: President Wilson was the second-largest contributor to the debt, percentage-wise. He added $21 billion, which was a 727% increase over the $2.9 billion debt of his predecessor. Wilson had to pay for World War I. During his presidency, the Second Liberty Bond Act gave Congress the right to adopt the national debt ceiling.3


Ronald Reagan: President Reagan increased the debt by 186%. Reaganomics added $1.86 trillion. Reagan's brand of supply-side economics didn't grow the economy enough to offset the lost revenue from its tax cuts. Reagan also increased the defense budget by 35%.3


George W. Bush: President Bush added $5.849 trillion, the second-greatest dollar amount. This was a 101% increase, the fourth-largest percentage increase. Bush launched the War on Terror in response to the 9/11 attacks. It includes the War in Afghanistan, at $1.1 trillion, and the Iraq War, at $1 trillion. Military spending rose to a record level of $800 billion a year.3


Bush fought two recessions.

1. 2001 recession: Initiated the Economic Growth and Tax Relief Reconciliation Act and the Jobs and Growth Tax Relief Reconciliation Act.
2. 2008 financial crisis: Approved a $700 billion bailout package for banks.

Both Presidents Bush and Obama also had to contend with higher mandatory spending for Social Security and Medicare.


Barack Obama: Under President Obama, the national debt grew the most dollar-wise. He added $8.588 trillion. This 74% increase was the fifth-largest.3 Obama fought the Great Recession with an $831 billion economic stimulus package.4 The Obama tax cuts added $858 billion.


Obama increased defense spending to $855 billion.5 He sponsored the Patient Protection and Affordable Care Act. It was designed to reduce the debt by $143 billion over 10 years. But these savings didn't show up until the later years.
https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

 

Career politicians tend to be very corrupt. I think I have mentioned that a a few times here.
Big Bad Government is their precious thing.

 

No more than a handful of career politicians have any real interest in reducing the budget or the deficit. Trump, with the support of the RP House and Senate might have been able to coax them into some significant cuts, but the RP establishment is as dedicated to retraining Trump as their DP partners. Washington is Big Bad Government.

 

that is disloyal, the Republican establishment is on the same team as the President.

their spending is righteous.

 

I meant Klobuchar.
The question was who would be more responsible than Trump. Based on the deficits we are seeing under trump, any of those three could do better. Or Biden.

 

Let me know when you have those plans for a three front campaign.

 

Growth spurs revenue, and Trump's budget assumes the following "Real GDP, Q4/Q4 percent change;

2020; 3.1%
2021; 3%
2022; 3%
2023; 3%
2024; 3%
2025; 2.9

Table S-9
https://www.whitehouse.gov/wp-content/uploads/2020/02/budget_fy21.pdf

AND RECENTLY;

Mnuchin Says Boeing Woes Could Lop a Half-Point from U.S. GDP
https://www.bloomberg.com/news/articles/2020-01-12/mnuchin-says-boeing...
2020-01-13 · Boeing Co. could trim about half a point from U.S. GDP in 2020 but economic growth should still come in at about 2.5%, said Treasury Secretary Steven Mnuchin.

WHAT'S NEXT?....a revised 2% GDP growth rate due to the Corona Virus?

AGAIN, to reduce the deficit, both short and long term, Trump's revenue growth rates have to EXCESSIVELY surpass his spending growth rates.

 

So “career politicians” being corrupt is why trump waited until after his first term — perhaps his last term — is over to try and do anything regarding this issue? That makes sense to you?

 

And the large amount of deficit spending, fed injections, reductions in interest rates plus agricultural bailout outs would have reduced past the growth figures significantly — the estimated growth figures take reigning in zero of these into account.

 

The entire Deep State and all of its secret police/secret courts/spy agencies have been focused on destroying Trump and his family and friends since he announced his run.
The fact that Trump has been so effective is astonishing.

OTOH, why has the DP ruled House failed to pass a deficit reducing budget? It's their job - isn't it?

 

LOL!

 

I have no idea why you keep trying to deflect to democrats? They are not in power. Republicans are. Republicans had total budgetary control for 2 straight years, and still control the senate and presidency.

 

I noticed you didn’t answer the question.
Why did trump not push the above items on his initial budget?
Why is he waiting until “after the election” — sounds like Obama...

 

The DP bosses rule the House, and the House alone has an absolute check on Executive branch spending. I bet you know that.

"The House of Representatives cannot only refuse, but they alone can propose, the supplies requisite for the support of government. They, in a word, hold the purse that powerful instrument by which we behold, in the history of the British Constitution, an infant and humble representation of the people gradually enlarging the sphere of its activity and importance, and finally reducing, as far as it seems to have wished, all the overgrown prerogatives of the other branches of the government. This power over the purse may, in fact, be regarded as the most complete and effectual weapon with which any constitution can arm the immediate representatives of the people, for obtaining a redress of every grievance, and for carrying into effect every just and salutary measure."
The Federalist Papers : No. 58, Madison.
https://avalon.law.yale.edu/18th_century/fed58.asp

 

has no relevance to what is being discussed. REPUBLICANS had total budgetary control for 2 straight years, and still control the senate and presidency. THEY own the deficit and debt starting in 2017. Absent a veto proof majority, the president has total control of a budget bill becoming law, or not.

 

I think I was rather clear. The Republicans in the House and Senate, like the Democrats in the House and Senate have no real interest in reducing spending or balancing the budget.

The House never needs any help from a President or the Senate to pass a deficit reducing budget.

 

Read my posts. Of course the RP is responsible for the deficits when it holds the House.
You are arguing with yourself. Now, the DP holds the House. Why doesn't the DP House pass a deficit reducing budget? Hint: like the RP, the DP does not want to restrain spending. Get it?


"The Constitution is filled with ambiguities. But it has a few commands the framers wanted crystal clear. The president is commander in chief. Supreme Court justices have life terms. And, it states, “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law.”
Article I, section 9, clause 7 is constitutional bedrock, popularly known as “the power of the purse.” James Madison called it “a weapon” arming “the immediate representatives of the people” against the sweeping powers of the president."
THE WASHINGTON POST, National Security, An emergency of the moment may set precedent for the ages, By Fred Barbash and Ellen Nakashima, Feb. 15, 2019.
https://www.washingtonpost.com/worl...599380-314e-11e9-813a-0ab2f17e305b_story.html

 

I have no obligation to present you with a plan for a three front campaign and I am quite sure the military has plans for multiple scenarios

↑
Me>> We aren't prepared to fight a two front war.
You>> Oh yeah general, the tell us what is needed

I answered and you have refused to respond......oh well

 

Biden and Obama ran up huge deficits and I see NOTHING on Klobuchar's website even mentioning the budget and deficits. Has she ever entered or even proposed a bill to attack the deficits? She assumed office in 2007 the year the Democrats took back the Congress from the Republicans and a deficit of just $161B. Two years later it was $1,400B and stayed over $1,000B for the next three, did she vote for those increases in spending and deficits?

Trump has just introduced a budget that will at the least head in a better direction and start reigning in this out of control spending, but you don't support it so your concerns about the deficit seem quite empty.

 

Not necessarily, it could be a B- Ok, budgets are negotiated each side doesn't necessarily get what it wants and historically the Democrats don't get all the spending they want and the Republican don't get all the cuts or spending restraint they want.

 

Are you claiming the FY2008 and FY2009 budgets were Bush budgets? Budgets are not merely products of the President. As you will see now Trumps budget will be largely ignored by the Congress the House especially. The Congress had the budgetary power.

 

You were the one that brought it up.