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Keyword: deficit

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  • China Offers to Buy Nearly $70 Billion of U.S. Products to Fend Off Trade Tariffs

    06/05/2018 9:14:18 PM PDT · by Beave Meister · 35 replies
    The Wall Street Journal ^ | 6/5/2018 | Lingling Wei in Beijing and Bob Davis in Washington
    China offered to purchase nearly $70 billion of U.S. farm, manufacturing and energy products if the Trump administration abandons threatened tariffs, according to people briefed on the latest negotiations with American trade officials. In weekend talks in Beijing, Chinese negotiators led by Liu He, President Xi Jinping’s economic envoy, presented a U.S. team headed by Commerce Secretary Wilbur Ross a package that includes Chinese companies buying more U.S. soybeans, corn, natural gas, crude oil, coal and manufactured goods. Chinese and U.S. officials estimated the value of the package at nearly $70 billion in the first year. President Donald Trump has...
  • Pelosi: ‘When There’s a Democratic President, the Deficit Goes Down’

    05/24/2018 9:16:52 PM PDT · by Olog-hai · 68 replies
    Cybercast News Service ^ | May 24, 2018 | 12:51 PM EDT | CNSNews.com Staff
    House Minority Leader Nancy Pelosi said during a “town hall meeting” on CNN on Wednesday night that when there is a Democratic president the federal deficit goes down. “It’s counterintuitive in people’s minds that the Democrats are the deficit reduction folks,” said Pelosi. “But the fact is, you look, when there’s a Democratic president, that the deficit goes down, when the Republicans are in power, they give tax cuts at the high end, all kinds of other things, and the deficit, the debt, the national debt goes up.” The historical data published by the White House Office of Management and...
  • The Trillion-Dollar Myth

    04/17/2018 6:23:52 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | April 17, 2018 | Stephen Moore
    There is an old saying that you can't teach an old dog new tricks, and we've learned that again with the Congressional Budget Office and its latest highly misleading fiscal forecast. For years, we've been trying to get the CBO to use real-world scoring that reflects how businesses, workers and financial markets react to changes in tax rates. But no go. This is why the left is having a field day with the CBO's forecast that deficits under President Trump will average a trillion dollars a year for the next decade. This is supposed to be a result of Trump's...
  • Ryan: Trillion-dollar deficits were inevitable

    04/15/2018 1:05:07 PM PDT · by yesthatjallen · 73 replies
    The Hill ^ | 04/15/18 | Alexander Bolton
    Speaker Paul Ryan (R-Wis.) says that trillion-dollar deficits could not have been avoided by the GOP-controlled Congress, responding to critics within his party who say that leaders have behaved irresponsibly. “That was going to happen. The baby boomers retiring was going to do that,” Ryan said on NBC’s “Meet the Press” of projections that the country will start running trillion-dollar deficits as soon as 2020. Etc...
  • Trade deficit with China costs 2 mn jobs to US: White House

    03/24/2018 6:30:02 PM PDT · by cba123 · 8 replies
    Tribune India ^ | 03/23/2018 | Posted at: Mar 23, 2018, 8:24 PM; last updated: Mar 23, 2018, 8:24 PM (IST)
    America’s massive trade deficit with China is estimated to have resulted in about two million job losses in the US, the White House has said, defending President Donald Trump’s decision to initiate strong actions against China’s “unfair” trade practices. (please see link, for full article)
  • Ronald Reagan State of the Union (on Budgets and Deficits, 1988)

    03/23/2018 3:19:34 PM PDT · by Hostage · 2 replies
    Joint Session before Congress ^ | January 25, 1988 | Ronald Reagan
    And let's begin by discussing how to maintain economic growth by controlling and eventually eliminating the problem of Federal deficits. We have had a balanced budget only eight times in the last 57 years. For the first time in 14 years, the Federal Government spent less in real terms last year than the year before. We took $73 billion off last year's deficit compared to the year before. The deficit itself has moved from 6.3 percent of the gross national product to only 3.4 percent. And perhaps the most important sign of progress has been the change in our view...
  • Chuck-You Celebrates: The Era of Austerity Is Over

    03/22/2018 2:14:37 PM PDT · by Kaslin · 13 replies
    Rush Limbaugh.com ^ | March 22, 2018 | Rush Limbaugh
    RUSH: Here’s Chuck You Schumer. This is in Washington today on the Senate floor. Audio sound bite No. 24. SCHUMER: Overall, we Democrats are very happy with what we’ve been able to accomplish on a number of very important priorities to the middle class in America: infrastructure, education, opioid treatment, mental health, child care. This spending agreement brings that era of austerity to an unceremonious end and represents one of the most significant investments in the middle class in decades. RUSH: I don’t know, folks. I just want to puke when I hear this stuff. I just want to vomit....
  • Treasury Dept.: The real deficit is twice as big – and getting worse

    02/23/2018 10:03:09 AM PST · by huldah1776 · 23 replies
    Conservative Review ^ | Feb 23, 2018 | Daniel Horowitz
    The largest financial institution in the world – the U.S. government – issued its financial statement just a few days ago, and nobody in Washington seems to care that the deficit is almost twice as large as they once thought. snip In substance-free Washington, the release of the annual financial statements of the U.S. government isn’t a big deal, but it should be. The statements demonstrate that we have gone backward, not forward, with Republicans in charge of all branches of government. According to the annual financial report of the U.S. government published by the Treasury Department, the real deficit...
  • Obama's Real Debt and Deficit Legacy

    02/20/2018 5:55:06 AM PST · by Kaslin · 15 replies
    Townhall.com ^ | February 20, 2018 | Stephen Moore
    Congressional Republicans have been raked over the coals in the last two weeks for slamming through budget caps and inflating government spending and debt by another $300 billion. The criticisms are well-deserved. It's a historical truism that Republicans are much more fiscally conscientious when they are in the minority than when they run Congress. And Republicans tend to be much bigger fiscal hawks when there is a Democratic president than a Republican president -- as we are now witnessing. The only time in half a century that the budget has been balanced was in the late 1990s, when Bill Clinton...
  • A million dollars a minute

    02/18/2018 11:26:07 AM PST · by Tolerance Sucks Rocks · 4 replies
    The Washington Times ^ | February 14, 2018 | Andrew P. Napolitano
    Imagine you open the faucet of your kitchen sink expecting water and instead out comes cash. Now imagine that it comes out at the rate of $1 million a minute. You call your plumber, who thinks you’re crazy. To get you off the phone, he opines that it is your sink and therefore must be your money. So you spend it wildly. Then you realize that the money wasn’t yours and you owe it back. Now imagine that this happens every minute of every day for the next three years. At the end of the three years, you owe back...
  • Drowning in Debt

    02/13/2018 10:37:13 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | February 13, 2018 | Cal Thomas
    In "Hamlet," Shakespeare pens one of the most familiar lines -- and best advice -- ever written. Before Laertes leaves for Paris, his father, Polonius, tells him: "Neither a borrower nor a lender be..." We have ignored that advice for far too long, which is why the U.S. national debt is $20 trillion with more to come, thanks to the Republican Congress, which has passed a two-year spending bill that calls for $300 billion in new spending and removes caps applied by the Budget Control Act of 2011. It's being sold to the public with the highest and purist motives....
  • Trump signs sweeping two-year budget deal

    02/09/2018 6:48:10 AM PST · by COUNTrecount · 147 replies
    NY POST ^ | February 9, 2018 | AP
    <p>Trump tweeted, “Just signed Bill. Our Military will now be stronger than ever before. We love and need our Military and gave them everything — and more. First time this has happened in a long time. Also means JOBS, JOBS, JOBS!”</p>
  • What fueled the budget deal? Cold, hard cash

    02/09/2018 7:03:57 AM PST · by Oldeconomybuyer · 11 replies
    NBC "News" ^ | February 9, 2018 | by JONATHAN ALLEN
    WASHINGTON — Just add cash. That was the ingredient Republican and Democratic leaders on Capitol Hill needed to strike and pass a long-term budget deal after months of bitter fighting across and within party lines about how to spend funds that had been limited by budget caps. An $89 billion injection "changes a lot of votes," explained North Carolina Rep. Mark Meadows, the chairman of Republicans' arch-conservative Freedom Caucus and an opponent of the bill, hours before it passed. And that figure, an important factor in securing the support of lawmakers from the Republican-heavy states of Texas and Florida, only...
  • U.S. federal workers worry about government shutdown

    01/22/2018 7:27:15 AM PST · by Oldeconomybuyer · 44 replies
    Reuters ^ | January 22, 2018 | by Chris Kenning
    Thousands of federal workers faced uncertainty about the status of their jobs and paychecks after U.S. Senate leaders failed to reach an agreement to end a government shutdown before the work week begins on Monday. “This is incredibly stressful,” said Jessica Klement, vice president at the National Active and Retired Federal Employees Association, which represents more than 20,000 workers. “Essential employees must report to work without knowing when they’ll be paid next,” she said. “Non-essential employees will be forced to stay home without pay, not knowing if back pay will be provided.” Some employees may not have received notice of...
  • Trump Administration Says US Mistakenly Backed China WTO Accession in 2001

    01/21/2018 9:35:26 PM PST · by cba123 · 10 replies
    Reuters / The Epoch Times ^ | January 21, 2018
    WASHINGTON–The United States mistakenly supported China’s membership of the World Trade Organization in 2001 during Bill Clinton’s presidency on terms that have failed to force Beijing to open its economy, the Trump administration said on Friday as it prepares to clamp down on Chinese trade. “It seems clear that the United States erred in supporting China’s entry into the WTO on terms that have proven to be ineffective in securing China’s embrace of an open, market-orientated trade regime,” the administration said in an annual report to Congress on China’s compliance with WTO commitments. (Please link to follow article for additional...
  • Racial Overkill

    01/18/2018 1:00:32 PM PST · by huckfillary · 4 replies
    Artful Dilettante ^ | January 18, 2018 | Artful Dilettante
    Why do we constantly talk about race and immigration? Race and immigration? It never ends. That's all we talk about. We have allowed the Democrats, liberals, cultural marxists and their Republican suck-ups to set the terms of this national debate. Why do we never talk about balancing the budget or eliminating our $100 trillion federal debt? To me, this is far more important. Why don't we put off the race and immigration debate until we balance the budget? How can we even consider giving illegal immigrants government money when the government is completely broke? Repeat after me---OUR GOVERNMENT IS COMPLETELY...
  • United States Balance of Trade (currently 50 billion, trade deficit in November)

    01/15/2018 9:26:59 PM PST · by cba123 · 27 replies
    The trade deficit in the US widened to USD 50.5 billion in November of 2017 from an upwardly revised USD 48.9 billion in October. It is the biggest trade gap since January of 2012 as imports reached a record high on rising demand for consumer goods, cell phones, crude oil and semiconductors. Exports recovered form October's fall and touched a record value on higher sales of capital goods, aircraft and cars. Balance of Trade in the United States averaged -14032.83 USD Million from 1950 until 2017, reaching an all time high of 1946 USD Million in June of 1975 and...
  • Feds Collect Record Income Taxes Through December; Still Run $225 Billion Deficit

    01/14/2018 3:55:15 PM PST · by Olog-hai · 36 replies
    Cybercast News Service ^ | January 12, 2018 | 2:45 PM EST | Terence P. Jeffrey
    The federal government collected record individual-income-tax revenues through the first quarter of fiscal 2018 (October through December), according to the new Monthly Treasury Statement. This was the last quarter before the new tax-cut law signed by President Donald Trump on Dec. 22 took effect. Despite taking in record individual-income-tax revenues, the federal government ran a deficit of approximately $225 billion during the quarter. The Treasury collected a record $390,847,000,000 in individual income taxes in October through December, according to the Treasury statement. That was $30,568,380,000 more than the $360,278,620,000 that the Treasury collected (in constant December 2017 dollars) in individual...
  • The House passes spending, disaster measures Thursday to avert shutdown

    12/21/2017 2:35:43 PM PST · by Oldeconomybuyer · 17 replies
    Washington Post ^ | December 21, 2017
    he House passed a short-term spending measure Thursday to avert a partial government shutdown at midnight Friday, and quickly voted on a separate $81 billion disaster relief bill to aid victims of recent hurricanes and wildfires. The Senate is expected to vote Thursday evening on the stopgap, which passed the House 231-188 and will push back delicate decisions on spending, immigration, health care and national security until Jan. 17.
  • Politicians Are Selective About When Debt and Deficits Matter

    12/06/2017 7:00:41 AM PST · by Kaslin · 10 replies
    Townhall.com ^ | December 6, 2017 | Jonah Goldberg
    If you're a normal person who pays attention to politics, you'd be forgiven for thinking that Washington can't decide whether deficits are bad or not. Well, I have one easy trick that will help you make sense of it all. In Washington, when you hear people complain that this or that piece of legislation will "explode" the deficit, what they are really telling you is that they don't like the legislation. It's really that simple. Good legislation, like good food, movies, novels and pretty much everything else except for dogs (they're all good), is in the eye of the beholder....