Posted on 08/22/2019 6:53:23 AM PDT by SeekAndFind
A trillion here. A trillion there. A trillion-dollar deficit as far as the eye can see.
But don't worry. You're not talking about real money. This is Trump money, where reality can be manipulated to reflect anything.
So Trump can simply claim the latest CBO report showing deficits beginning in 2020 to hit more than a trillion dollars through 2029, to be fake news. Or a Democratic lie.
It's certainly more appetizing to ignore reality than to accept it.
The U.S. budget deficit is expected to hit $960 billion in 2019, and average a whopping $1.2 trillion per year between 2020 and 2029, according to the CBO’s look ahead at the U.S. budget and economic outlook over the next decade.
The new deficit projection for 2019 rose $63 billion from the last report, which came out in May. The CBO says this is mainly because of the massive new budget deal, which passed both houses of Congress and was signed into law by Trump in early August.
“The nation’s fiscal outlook is challenging,” CBO Director Phillip Swagel said in the report. “Federal debt, which is already high by historical standards, is on an unsustainable course.”
Now, don't worry your pretty little heads about this. After all, Medicare has been saying that spending on the program is "unsustainable" for years and the sky hasn't fallen. Saying spending is "unsustainable" is government-speak for "at least until we can raise your taxes."
Also, this is wartime and we should expect these deficits. What war, you ask? The trade war, of course, silly.
(Excerpt) Read more at pjmedia.com ...
Cause we truly are TOO BIG TO FAIL.
Pointing out that fact could cause a global depression that could land us all back in the stone age. So nobody is going to do that. They can print and spend with impunity.
I noticed a while back that “billion” became the new million. And now Trillion has become the new million. I’m honestly wondering when we will first hear the word “quadrillion” when speking of economic topics. I firmly think it is coming, and probably fast. We are on a hyperbolic curve until the day it implodes. And that day will come ridiculously fast when it happens.
Eventually and painfully , the piper will be paid. It won’t be pretty. The propensity of people to elect people who promise and deliver “free” stuff has always been the inherent flaw of democracies.
The system hasn’t crashed in the 228 years, since 1791, that this nation has ran a debt.
And this is bad.
But taking into account the rise in GDP every year, we’re still capable of fixing this.
Japan’s at 230 percent debt to GDP.
I was SURE years ago that a complete and imminent collapse was coming.
Obviously I dont understand how debt to gdp affects a country. That’s not sarcasm.
The great secret is simply that we will never be out of debt, but we will continue to roll it over and it will get bigger until the point at which it is not sustainable and it fails.
It is the history of the world.
All that sustains it now is confidence in the government behind the dollar.
Well we can pass a budget with lots of deficit spending... or we can pass a continuing resolution with lots of deficit spending. There hasn’t been a third option in years and years and years. Too many rice bowls. Blaming the deficit on Trump is rich.
What kind of moron is Rick Moran? The Congress controls the budget and at the start of Trump’s term it was controlled by a bunch of good for nothing do nothing Republican Congressmen who couldn’t even manage a repeal of Obamacare, or defunding of Planned Parenthood.
If Trump wanted his tax cuts he wasn’t going to get them unless he kept their gravy train going.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.