http://fortune.com/2018/03/15/us-national-debt-trump-tax-cuts/
National debt climbing to 33 trillion in just ten years.
Where just the INTEREST on that amount of debt gets to be close to the largest part of the US budget, closing in on the military budget.
Just how long do you think this BS can go on with Trump's polices in place?
People are saying how much more tax revenues we are collecting but it may only go up a few percent but that won't come close to covering the interest on the national debt so it is a net loss to the US and is in fact the largest single crisis the US has ever faced.
Trump's tariff wars will for sure cause at minimum, loss of US jobs and may go all the way to a full blown recession.
If that happens, the national debt will be far higher than 30 trillion or so.
I saw one projection putting it over 100 trillion in another 40 or 50 years.
But hide your head in the sand but in the meantime, learn Mandarin for the time when the US becomes a Chinese protectorate.
Already food stamp money is down the drain, and next of course will be major medicare cuts followed shortly after that with Social Security cuts.
I just hope I am safely dead when the shyte hits the fan but my kids and grandkids will be paying the cost.
Back when Obama was president the right wingers on this website such as Whodey frequently complained about the debt and the left wingers then replied by saying it wasn't bad and debt is actually good and whatnot. Note, America's debt was already a huge number during that time.
Is the debt suddenly a big problem now that a republican is president?
Will it be okay again once a democrat is president?
Is that roughly how it works?
"I just hope I am safely dead when the shyte hits the fan but my kids and grandkids will be paying the cost."
That sums it up right there. Obama ran up the debt 12 trillion without even flinching. Would have run it up more if given the chance.
Fiscal Conservatives resent the fact that Trump is continuing what has now become a tradition. The debt will never, ever be paid off. The only chance the USA has now is to destroy its creditors.
Originally posted by @sonhouseThe following budget cuts have been formally proposed by the GOP for 2019.
http://fortune.com/2018/03/15/us-national-debt-trump-tax-cuts/
National debt climbing to 33 trillion in just ten years.
Where just the INTEREST on that amount of debt gets to be close to the largest part of the US budget, closing in on the military budget.
Just how long do you think this BS can go on with Trump's polices in place?
People are s ...[text shortened]... I am safely dead when the shyte hits the fan but my kids and grandkids will be paying the cost.
$1.5 trillion reduction in Medicaid
$4.0 billion reduction in Social Security
$537 billion reduction in Medicare
They plan on paying down the debt while enriching the already rich on the backs of working people and those who are retired.
Originally posted by @great-king-ratActually I prefer high taxes on rich people. The problem with the Right is they refuse to increase tax revenue.
Back when Obama was president the right wingers on this website such as Whodey frequently complained about the debt and the left wingers then replied by saying it wasn't bad and debt is actually good and whatnot. Note, America's debt was already a huge number during that time.
Is the debt suddenly a big problem now that a republican is president?
Will it be okay again once a democrat is president?
Is that roughly how it works?
Originally posted by @tom-wolseySo compare 12 tril to 33 tril which is what it will be best case in just 10 years.
"I just hope I am safely dead when the shyte hits the fan but my kids and grandkids will be paying the cost."
That sums it up right there. Obama ran up the debt 12 trillion without even flinching. Would have run it up more if given the chance.
Fiscal Conservatives resent the fact that Trump is continuing what has now become a tradition. The debt will never, ever be paid off. The only chance the USA has now is to destroy its creditors.
You don't see that as a problem? AND that ONLY if the US continues its *huge* 3% growth rate which is going to be VERY problematic considering Trump's trade/tariff wars where for CERTAIN US jobs will be lost by multiple thousands.
You see no problem with that scenario? You LIKE the present trade/tariff wars going on?
My only option, being old, and on medicare only, is to try to get into the veteran health care thing, but I am refused entry into that system because last year this year and next year will make too much money to be even considered for Veteran status for health care, as bad as that is, it will be my only option, that or move to Cuba....So much for doing 4 years in the military.
Thing is, the 33 tril estimate is ONLY if the US keeps up 3% a year growth. Tariff wars will cut that to more like MINUS 3%.
No problem?
Originally posted by @athousandyoungMeanwhile, tax revenue is increasing. Record revenues in 2017 with projected record revenues 2018 and 2019.
Actually I prefer high taxes on rich people. The problem with the Right is they refuse to increase tax revenue.
Originally posted by @sonhouseYes, I see it as a problem.
So compare 12 tril to 33 tril which is what it will be best case in just 10 years.
You don't see that as a problem? AND that ONLY if the US continues its *huge* 3% growth rate which is going to be VERY problematic considering Trump's trade/tariff wars where for CERTAIN US jobs will be lost by multiple thousands.
You see no problem with that scenario? ...[text shortened]... e US keeps up 3% a year growth. Tariff wars will cut that to more like MINUS 3%.
No problem?
Originally posted by @great-king-ratBill Clinton ran balanced budgets and even surpluses if I recall correctly.
Back when Obama was president the right wingers on this website such as Whodey frequently complained about the debt and the left wingers then replied by saying it wasn't bad and debt is actually good and whatnot. Note, America's debt was already a huge number during that time.
Is the debt suddenly a big problem now that a republican is president?
Will it be okay again once a democrat is president?
Is that roughly how it works?
But he wasn't a good Christian.
He was a sinner.
But if Mike Pence becomes president (not likely), he will have the magic bullet solution.
Go to church every Sunday, read the Bible and pray, pray, pray .......
And the debt will just melt away ....... 😛
Originally posted by @tom-wolseyDestroy it's creditors ??
"I just hope I am safely dead when the shyte hits the fan but my kids and grandkids will be paying the cost."
That sums it up right there. Obama ran up the debt 12 trillion without even flinching. Would have run it up more if given the chance.
Fiscal Conservatives resent the fact that Trump is continuing what has now become a tradition. The debt will never, ever be paid off. The only chance the USA has now is to destroy its creditors.
What ? What ?? 😲
Originally posted by @sonhouseVery true. This is a bipartisan problem: ARE YOU LISTENING EVERYONE! This is a bipartisan problem. Liberals here are quick to blame Trump, and Conservatives here are quick to blame Obama, but there is plenty of blame to go around.
http://fortune.com/2018/03/15/us-national-debt-trump-tax-cuts/
National debt climbing to 33 trillion in just ten years.
Where just the INTEREST on that amount of debt gets to be close to the largest part of the US budget, closing in on the military budget.
Just how long do you think this BS can go on with Trump's polices in place?
People are s ...[text shortened]... I am safely dead when the shyte hits the fan but my kids and grandkids will be paying the cost.
Originally posted by @mghrn55tongue-in-cheek.
Destroy it's creditors ??
What ? What ?? 😲
Originally posted by @tom-wolseyThat’s because Obama fixed the economy.
Meanwhile, tax revenue is increasing. Record revenues in 2017 with projected record revenues 2018 and 2019.
https://www.cnsnews.com/news/article/terence-p-jeffrey/2472542000000-record-taxation-through-august-deficit-still-755b
The Right has failed to end deficit spending, unlike Democratic California which is running a surplus or Bill Clinton who also ran a surplus.
Originally posted by @mchillExcept the government is controlled by the Right. House, Senate and Presidency.
Very true. This is a bipartisan problem: ARE YOU LISTENING EVERYONE! This is a bipartisan problem. Liberals here are quick to blame Trump, and Conservatives here are quick to blame Obama, but there is plenty of blame to go around.
Originally posted by @athousandyoungAnd when the rich are gone ?
Actually I prefer high taxes on rich people. The problem with the Right is they refuse to increase tax revenue.
Then what ??