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 ...
We are already in the Obama recession.
Don’t worry, the Federal Reserve can always create more debt, and suppress interest rates to keep the progressive nanny state operating.
Of course, it will impoverish workers and savers and make Wall Street rich, but its the governing ideology, so who will oppose it?
Fugitaboutit, the Donnie is gonna take over and he said he can fix it.
McConnell is gonna slow walk Trump to the cleaners.
Go back to your cult meeting at Isara’s thread.
Your snarky bs is all you’ve got? Did you address the contents of the article, or show your ignorance?
That's not what the article says. The 10-year debt estimate is being revised upward from 7.9 to $9.4 trillion, a difference of $1.5 trillion.
Just a matter of time until we go full Zimbabwe.
Bob Brinker got crotchety with a female caller and essentially said it doesn’t matter (the national debt).
KMA, trump said he can fix it all so don’t worry about a thing.
No, we are in a DEPRESSION and have been in one for Obama’s entire presidency.
Nailed it. We’re about to join them I think.
‘CLOWARD & PIVEN’.. Creating an IRREVERSIBLE debt that leads to collapse. So much for that fluffy SOTU address huh.
donkey drag...
Typical Cruzer.
Square your IQ and it gets smaller.
Absolutely correct.
Ya know this place used to be very civil until you trumpers got as vehement, illogical and dishonest as DU is towards republicans. So when you throw punches you better get ready for it to retur in spades.
Bull. It’s you Cruzers that invade every thread with bullshit like yours.
Project much, biff???
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