Platinum Contributing Member SnowRider Posted March 22, 2019 Platinum Contributing Member Share Posted March 22, 2019 (edited) There’s lot of work to do in the remaining 6 years U.S. Posts Largest-Ever Monthly Budget Deficit in February Katia Dmitrieva The U.S. posted its biggest monthly budget deficit on record last month, amid a 20 percent drop in corporate revenue and a boost in spending so far this fiscal year. The budget gap widened to $234 billion in February, compared with a fiscal gap of $215.2 billion a year earlier. That gap surpassed the previous monthly record of $231.7 billion set seven years ago, according to data compiled by Bloomberg. February’s shortfall helped push the deficit for the first five months of the government’s fiscal year to $544.2 billion, up almost 40 percent from the same period the previous year, the Treasury Department said in its monthly budget report Friday. The release was delayed a week by the government shutdown earlier this year. Receipts dipped less than 1 percent to $1.3 trillion in the October-February period from the previous year, while spending accelerated 9 percent to $1.8 trillion. The fiscal shortfall is widening following President Donald Trump’s $1.5 trillion tax-cuts package that’s weighing on receipts and raising concerns about the national debt load, which topped a record $22 trillion last month. Federal Reserve Chairman Jerome Powell reiterated his concern over the government deficit in a press conference Wednesday, saying that the nation’s growing debt pile needs to be addressed. At the same time, there’s a shift among some economists -- led by proponents of Modern Monetary Theory -- on the dangers of a growing deficit, with low inflation and cheap borrowing costs suggesting there’s room for additional spending. MMT Bursts From Obscurity Helped by Trump Deficits, ‘AOC Factor’ The Treasury data show tax receipts declined for both corporations and individuals in the five-month period, while revenue from customs duties almost doubled, boosted by income from tariffs imposed by the Trump administration. The 2017 tax law slashed the corporate tax rate from 35 percent to 21 percent. Corporations have so far this fiscal year paid $59.2 billion, compared to $73.5 billion in 2018, when the tax law was only partially in effect for some corporations. In 2017, however, the year before the law was enacted, corporations had paid $87.4 billion at this point in the year. Individual income tax receipts dropped slightly from this point last year, but have risen compared to some years before the tax law. Despite the law cutting tax rates for most people, rising wages and lower unemployment have spurred higher tax revenue. — With assistance by Wendy Hoagland (Updates with details on revenue from ninth paragraph.) https://www.bloomberg.com/news/articles/2019-03-22/u-s-posts-largest-monthly-budget-deficit-on-record-in-february?srnd=premium Quote Edited March 22, 2019 by SnowRider Quote Link to comment Share on other sites More sharing options...
Anler Posted March 22, 2019 Share Posted March 22, 2019 Nobody cares because the economy is so good... Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 1 minute ago, Anler said: Nobody cares because the economy is so good... The 🤡 posse and Repugs cared from 2009 -2016..... Quote Link to comment Share on other sites More sharing options...
Anler Posted March 22, 2019 Share Posted March 22, 2019 Just now, SnowRider said: The 🤡 posse and Repugs cared from 2009 -2016..... I know, at that time they thought less money in the economy would be better. Now they think more is better. They will probably go back to the previous thought as soon as a Democrat becomes president again. Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted March 22, 2019 Share Posted March 22, 2019 Repubs?? Guys? Quote Link to comment Share on other sites More sharing options...
Edmo Posted March 22, 2019 Share Posted March 22, 2019 (edited) 3 minutes ago, Anler said: I know, at that time they thought less money in the economy would be better. Now they think more is better. They will probably go back to the previous thought as soon as a Democrat becomes president again. I find it interesting how none of the dem candidates are talking about spending cuts. Just a bunch of new programs with trillion dollar price tags. 🤔 Edited March 22, 2019 by Edmo Quote Link to comment Share on other sites More sharing options...
Dave Posted March 22, 2019 Share Posted March 22, 2019 Just now, Edmo said: I find it interesting how none of the dem candidates are talking about spending cuts. Just a bunch of new programs with trillion dollar price tags. 🤔 Thats the funny part.... Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted March 22, 2019 Share Posted March 22, 2019 3 minutes ago, Edmo said: I find it interesting how none of the dem candidates are talking about spending cuts. Just a bunch of new programs with trillion dollar price tags. 🤔 They never claimed to be the small govt party... Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 Progressive taxes Democrats are the real fiscal conservatives 👍 1 Quote Link to comment Share on other sites More sharing options...
Edmo Posted March 22, 2019 Share Posted March 22, 2019 Just now, xtralettucetomatoe580 said: They never claimed to be the small govt party... Both parties are full of baloney. And we’re fucked. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 Just now, Edmo said: Both parties are full of baloney. And we’re fucked. Spedmo the Dumper with excuses Quote Link to comment Share on other sites More sharing options...
Mainecat Posted March 22, 2019 Share Posted March 22, 2019 TURN TO SHIT TRUMP OR TTST Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 22, 2019 Platinum Contributing Member Share Posted March 22, 2019 4 minutes ago, SnowRider said: Progressive taxes Democrats are the real fiscal conservatives 👍 Then how come mass and ill , 2 progressive states have income tax that is the same rate for everyone? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 1 minute ago, steve from amherst said: Then how come mass and ill , 2 progressive states have income tax that is the same rate for everyone? Quote Link to comment Share on other sites More sharing options...
Edmo Posted March 22, 2019 Share Posted March 22, 2019 9 minutes ago, SnowRider said: Progressive taxes Democrats are the real fiscal conservatives 👍 Tax and spend baby. We don’t need no cuts!!!!! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 2 minutes ago, SnowRider said: 7 minutes ago, Edmo said: Both parties are full of baloney. And we’re fucked. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 22, 2019 Gold Member Share Posted March 22, 2019 Slash the the 3 largest budget items by a 1/3rd and the budget is balanced. You could set the military budget at $0 and with no further cuts we still wouldn’t be close to a balanced budget. Quote Link to comment Share on other sites More sharing options...
Edmo Posted March 22, 2019 Share Posted March 22, 2019 Just now, BOHICA said: Slash the the 3 largest budget items by a 1/3rd and the budget is balanced. You could set the military budget at $0 and with no further cuts we still wouldn’t be close to a balanced budget. Fuck you. That guy down the street is loaded. Let’s go take his money and spend a bunch more! 😁 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 1 minute ago, BOHICA said: Slash the the 3 largest budget items by a 1/3rd and the budget is balanced. You could set the military budget at $0 and with no further cuts we still wouldn’t be close to a balanced budget. You’re all talk. You’re Repugs lie to you, bend you over, and you smile when your tonsils are tickled Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 3 minutes ago, BOHICA said: Slash the the 3 largest budget items by a 1/3rd and the budget is balanced. You could set the military budget at $0 and with no further cuts we still wouldn’t be close to a balanced budget. 2 minutes ago, Edmo said: Fuck you. That guy down the street is loaded. Let’s go take his money and spend a bunch more! 😁 Have at it....let’s see your results. http://archive.nytimes.com/www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 22, 2019 Gold Member Share Posted March 22, 2019 4 minutes ago, SnowRider said: You’re all talk. You’re Repugs lie to you, bend you over, and you smile when your tonsils are tickled Take a look yourself. The 2 largest budget items as of today cost over 2 trillion but only take in just over 1 trillion through it tax system.... payroll tax. Our entire deficit is caused by SS and medicare... take a third of the military budget for shits and giggles and we have a surplus if the 2 largest government programs currently didn’t exist. http://www.usdebtclock.org/index.html Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 4 minutes ago, BOHICA said: Take a look yourself. The 2 largest budget items as of today cost over 2 trillion but only take in just over 1 trillion through it tax system.... payroll tax. Our entire deficit is caused by SS and medicare... take a third of the military budget for shits and giggles and we have a surplus if the 2 largest government programs currently didn’t exist. http://www.usdebtclock.org/index.html SS is not a problem. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted March 22, 2019 Gold Member Share Posted March 22, 2019 5 minutes ago, SnowRider said: SS is not a problem. Medicare and SS = $2.2+ trillion in expenditures.... $1.2 or so trillion in tax revenue..... If you can’t see a problem with this you are truely a fucking moron.... but everybody already knew you were. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted March 22, 2019 Author Platinum Contributing Member Share Posted March 22, 2019 11 minutes ago, BOHICA said: Medicare and SS = $2.2+ trillion in expenditures.... $1.2 or so trillion in tax revenue..... If you can’t see a problem with this you are truely a fucking moron.... but everybody already knew you were. Balance it up. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 22, 2019 Share Posted March 22, 2019 54 minutes ago, Edmo said: I find it interesting how none of the dem candidates are talking about spending cuts. Just a bunch of new programs with trillion dollar price tags. 🤔 The dems never talk about spending cuts because it doesnt suit their base. They need new spending and new programs. They dont really pretend to be fiscally responsible. The republicans on the other hand talk about cutting spending and then increase it more than democrats do. The difference being with the dems you know what you are buying, more spending. With republicans who the fuck knows what you are gonna get... Quote Link to comment Share on other sites More sharing options...
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