Shrinking the Budget May Not Be As Easy As Trump Thinks

Real Clear Markets ^ | November 21, 2016 | Jeffrey Dorfman

[expat_panama]

OK, now that we won the election and we can chuck the party slogans and get back to work.  Those of us who earn a living having to decide what's going to be happening w/ the economy need to look at what we got.  Fed spending thru Oct. '18 will be the highest ever -just like last year.  

Nobody knows for sure whether Trump's FY19 budg. will continue the annual increase   What we do know is that so far we got the ten % annual increase for base line budgeting and no clear promises for cutting anything near that much:

Someone tell me what I'm missing but what even though I'm seeing is a lot of changes for the better, puttingthe fed budget in order won't happen until free Americans are allowed to create enough wealth to make it worth their effort.

[refermech]

A journey of a thousand miles starts with a single step. Trump will take that step and more.

[Libloather]

No need to pay for the 16,000 freshly hired Husseincare IRS ‘enforcers’. It’s a start...

[DungeonMaster]

I just predicted for my kids that Trump will cut the deficit 10 trillion dollars in 8 years.

[hoosiermama]

Some will learn the meaning of budget !

[stanne]

I am sure Trjmp knows what is easy and what isn’t. I dont believe he called any of it easy. He HAS said that te would make things happen; that difficulty does not equal impossible. That’s not the same as saying things are easy.

Truth is going to drive liberals crazy

[trebb]

I’d wager that Trump and his advisers know full well that it will be a complex task - they just won’t be deterred because “it’s sooo hard to do...”.

[bray]

Why does he have to throw the (nominally) in there?

Pray America woke

[RummyChick]

[Steely Tom]

It certainly seemed pretty easy for Obama to expand it.

[silverleaf]

Trump did not enter polititical life to take on what was easy, but what was necessary

I do not think there is a person on the planet who has a better chance at starting the process of recovery and reform

[SoFloFreeper]

Trump will teach them.

[Gen.Blather]

Let’s ask the question; what is it the national government is for? Education? Why is there an education department that has no students. Axe the whole thing. The Rural Electric Board, created to bring electricity to outlying farms, is still in existence and has grown every year. Axe the whole thing. Department of energy, created by President Carter to make us independent of foreign oil, has done nothing for us and has grown every year. Axe the whole thing. Why is government supporting “the arts?” Every year the taxpayers, us deplorables who don’t have time or inclination or money to buy pictures of a bullet up somebody’s butt pay millions for just that every year. Axe the whole thing. EPA? It has grown from something to protect the environment to a multi-billion dollar agenda regulating Democratic love fest. Axe the whole thing and start over.

You give me half an hour with the budget and I’ll find you a pile of cuts.

[Godebert]

Haha.... Classic!

[expat_panama]

Top 'o the morning to all as stocks are at the top of the range.  Ordinarily a sell signal (it has been for most of the past year) but these are not ordinary times.  That's what futures traders seem to think pegging stock indexes up +0.15%

The good news (sort of) is that precious metals stopped falling and gold/silver's now going for $1,216.87/$16.75, and futures see 'em up +0.75%

fwiw:

How Trump Could End the U.S.'s New Feudalism - Joel Kotkin, Daily Beast
'Economic Anxiety' Doesn't Explain Donald Trump - Bryce Covert, TNR
Trump's Turn: GOP Presidents Rule Recessions - Matt Krantz, USA Today
Will Santa Save the Market's 'Trump Rally'? - Mark Hulbert, MarketWatch
How Apple Empowers and Employs the Working Class - Vindu Goel, NYT
JFK vs. Richard Nixon: Gold Vs. NGDP Targeting - Nathan Lewis, Forbes
Trump Should Consider Sen. Cruz for Fed Chair - Editorial, New York Sun
The Dollar Replaces a Broken VIX Index - Brian Kelly, RealClearMarkets
As U.S. Banks Decline, So Shrinks the Fed's Power - John Tamny, Forbes
The Myth of Financial Deregulation - Editorial, Investor's Business Daily
Infrastructure Spending & Its Major Pitfalls - Reuven Brenner, Asia Times

[RummyChick]

George Clooney Talks Donald Trump at Money Monster Cannes Press Conference from May

Suck it up Buttercup
https://www.youtube.com/watch?v=_fQHfRJvjew&feature=youtu.be

[randita]

Entitlements are the killer and they are growing at exponential rates. States are facing this as well and they can’t print money so the reckoning for them will come sooner.

Factor in a Fed rate hike and servicing our debt just added more to our deficit.

Economic growth of 4-5% a year will help stabilize the debt, but as long as entitlement spending continues to rise, it’s only temporary.

[HiTech RedNeck]

Migrating personnel out of the Federal sector and into the private sector will be necessary. Trump does not seem the kind to want to shove someone out on the street with nothing more than a “good luck!”

But this is important, because work in the private sector goes onto the free market. Public sector work, beyond what is unquestionably necessary to stem chaos, doesn’t add any value.

[DoodleDawg]

I just predicted for my kids that Trump will cut the deficit 10 trillion dollars in 8 years.

Are you taking bets?

[FlingWingFlyer]

Stopping Obama’s illegal alien invasion of America could easily shrink the budget big time.