Posted on 09/06/2023 5:59:04 AM PDT by Red Badger
The federal deficit is expected to nearly double this year, from about $1 trillion last year to $2 trillion for the fiscal year ending Sept. 30
Why it matters: There's no precedent for deficits this large, as a share of the economy — outside war, deep recession or pandemic.
The WashPost's Jeff Stein reported Sunday on the stunning projected figure from the Committee for a Responsible Federal Budget. Between the lines: Such huge spending imbalances contribute to high interest rates for consumers — including mortgages — in the short run.
In the long run, it means interest costs will likely squeeze all other federal priorities. What's happening: Bigger interest payments + lower tax receipts, despite strong economic growth.
"A strong economy usually reduces the deficit. Not this time," Stein writes. Reality check: The annual deficit was even higher — $2.8 trillion — in 2021, amid record COVID spending, according to the Congressional Budget Office.
Go deeper: White House urges Congress to avoid shutdown with short-term funding bill
In other words, fraudulent misrepresentations
Both sides do it but the Democrats are masters at controlling the language and weak Republicans go along
How many Republicans have you heard talk about only having two sexes, a few but they should refuse to go along with the concept of people choosing their own pronouns
Unexpectedly? HAHAHA
Gee, I wonder if it has to do with sky-high interest rates and funding a foreign war?
you could take 100% of what the rich has.
won’t fix a thing. but good luck in your venture.
It’s it a matter of fixing anything it’s switching the tax burden to people who can easily afford higher taxes
Ask yourself how do we close a 30 trillion dollar deficit we’ve gone beyond the point of economic growth fixing the problem
Ask yourself is it right to tax people for their social security benefits
Is it fair that during Covid a huge number of billionaires were created
Is it fair that Bill Gates can earn a 20 to 1 investment return tax free
We are in a dire situation and everyone needs to participate in fixing the problem
Go after the wealth. see how fast it vanishes. GLTW.
it’s NOT a rich tax problem.
It IS a to few tax payer problem.
it’s also a spending problem. (the main problem)
BTW I believe we are past the tipping point and there is no coming back.
The rich are international—they are all powerful—they control all governments....you are like a Roman citizen ranting about the Gods...Zeus is so mean...
:-)
I do agree we are past the point of no return because neither party is committed to or capable of reforming the system
Unexpected....like you thought you were farting, but shat yourself. That unexpected?
The rich are international but they do still operate in the largest economy in the world
That meter still have the ability to tax their earnings inside the country
Put a fork in it. She’s fully cooked.
We have beaten this subject to death.
I actually know rich people.
They would laugh at your comments and I won’t dare repeat what they would say about them....
Nice version “Catch me if you can....I have an army of lawyers and politicians in my pocket...”
Actually I know rich people too so your argument about how much you know is immaterial
We are 30 trillion in debt and spending nearly a trillion a year in interest especially as interest rates skyrocket, tell me what these wealthy people you know would do about that, unless they don’t consider the debt a problem
The problem with people like you and others is either they don’t understand the problem or they could care less about the problem
I do understand the problem.
The difference between your view and mine is I do not think there is a solution.
Whether I “care” or not is irrelevant—that is how liberals talk.
;-)
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.