Posted on 01/20/2016 5:27:15 PM PST by Lorianne
Government estimates of debt over the next decade have gone from adding $1.5 trillion in debt to $9.4 trillion due to recent tax legislation. That will put the country up over $30 trillion in debt assuming there are no further recessions.
This is the decade of no return.
Seems blowing up peoples countries and importing their poor and putting them on benefits is no longer working. We have also tried closing all our factories and letting the world scam us out of jobs in the “free trade†system. World’s highest tax rates…not seeming to help either. Cramming people into “universities†and loading them with debt has failed as well.
If this doesn’t get better soon we may have to go back to that old free market economics crap ________________________________
WASHINGTON (AP) — A government report released Tuesday estimates that this year’s budget deficit will rise to $544 billion, an increase over prior estimates that can be attributed largely to tax cuts and spending increases passed by Congress last month.
The estimate from the Congressional Budget Office also sees the economy growing at a slower pace this year than it predicted just a few months ago. It projects the economic growth will slow to 2.7 percent this year; it foresaw 3.0 percent growth in 2016 in last summer’s prediction.
Over the coming decade, CBO predicts deficits totaling $9.4 trillion. That’s up $1.5 trillion from its August estimate, with much of the increase mostly due to last month’s tax legislation, which permanently extended several tax cuts that Congress had typically renewed temporarily.
(Excerpt) Read more at thechinamoneyreport.com ...
The government has fudged ALL of the numbers, for Obama, re the unemployment figures, the fact that we have had massive INFLATION for years on end now, and so much more. The financial illiteracy, of the American populace is shocking and sad.
You've forgotten the disgusting ANTI-SEMETIC WARS against DRUDGE and Lucianne, here, in the beginning?
You've forgotten the RUDY WAR and the BUGZAPPER THREADS?
You've forgotten all of the words posted in between those two major wars as well ?
You are now utterly blind to what the Cruz supporters are posting to Trump supporters now? And HELL NO, the Trump supporters don't start it, nor do they reply in kind.
Most Americans are not prepared for what they can go through.
I’ve already seen the ugly side of it but at least some things are somewhat stable for me right now. Of course, anything is better than no hope at all. It’s a very rude awakening to just what one encounters.
There is no way they can keep these lies going forever. I don’t know how long we have.
Follow his posting history, FRiend. He thinks he can bully with personal attacks that are devoid of any fact or relevance to the article.
Just like this one.
It was Ronald Reagan who said, “A recession is when your neighbor loses his job. A depression is when you lose your job.”
Totally agree about the fudged numbers coming out of Washington. I call them the Ministry of Disinformation.
Now THAT is one zinger of an insult!
I have lived through many a recession; both as a child and an adult. I know the difference between a recession and a depression and how to cope.
People know instinctively, that things are bad and that the government figures are all lies. Some just ignore it all, some sort of get it, and some others DO understand it all.
You are correct, Reagan was being too “cute” by far, and if anyone would like to learn more about these financial matters,I can suggest an excellent, easy to read and understand book.
;)
Well, he’s wrong and stupid to boot.
Like I said - square his IQ.....
And biff, let me explain that to you - because I know I need to - if you take a number smaller than 1 and multiply it by itself, it gets SMALLER.
Did I use enough two and three syllable words for you there to get my message across?
Try multiplying -1 x -1 and see if you truly are a math whiz.
Hey genius, did I say negative numbers? No.
I was told once Ryan is this deficit hawk?
Er, datura...you might want to take a remdial arithmetic class...
remdial = remedial
Negative numbers are less than 1. Your statement was true only for a small range of values between 0 and 1.
Math doesn’t care if you support Cruz or Trump. It does care when you make statements that are false. Try to be a bit more precise.
Mind numbing numbers. Just staggering.
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