Posted on 08/28/2019 12:45:49 PM PDT by ChicagoConservative27
[EVERYONE knew Obama’s policies set the deficit on the path to explode after he left office]
CNN considers that to be an inconvenient truth and hides it.
So, which if the 20+ Stalin Claus DemoncRats running for POTUS is pledging to balance the Federal Budget in their first Term?
I’m waiting.
[Make 2008 look like child’s play]
As it will be. The die is cast.
The unfunded liabilities tell the tale; if nothing else does.
The deficit was more than a trillion a year under Obama and CNN couldn’t have cared less.
Revenue to the Treasury has set records under Trump. A lower unemployment rate more than paid for the tax cuts.
You might consider collapse proofing yourself now. Buy the retirement home and have it fully paid off. Pay off everything. Go to more guaranteed income investments.
You never know what life is going to give you of fail to give you later on. Don’t wait too long.
CNN routinely blamed the Obama deficits on Republicans in Congress - the President’s hands were tied. Obama got full credit for any good news, of course.
But during the Reagan and Bush years, it was fine to blame the President entirely for deficits or an economic slowdown.
So dishonest. Such a dishonor to the profession of journalism. Nothing but over paid political whores.
Can someone remind me again why we post this propaganda here on FR, and give audience to their lies? The explanation I was given before was that we need to know what the enemy is saying, which makes no sense.
We already know what they are saying. They are deceiving the American people and calling it “news”, so as to help Democrats get elected, so as to advance their socialist agenda.
So, how does spreading their propaganda for them help our side?
When the nation, a business, or a family shirk their responsibility to budget their affairs it generally means there is a moral breakdown somewhere.
The purpose of a budget for the government is to submit to the people's representatives in such a transparent way that the people's representatives' votes on the allocation of resources as well as the imposition of taxes can be determined up or down by the electorate. When our government proceeds for decades on continuing resolutions, the system breaks down, representative democracy is frustrated, graft and corruption and crony capitalism thrive.
All of this is made possible by the practice of simply borrowing money without consideration of the long-term costs to society and certainly to the next generation. This power to borrow money is unique to postwar America as the world's superpower and reserve currency. This, coincidence of factors permits our government to print money almost at will, to receive funds from foreign countries because we are the reserve currency and the largest economy, to avoid inflation by the additional coincidence of cheap Chinese goods to import, cheap labor to import keeping domestic wages down, and the digital revolution keeping costs overall down.
For the time being there seems to be no present-day economic consequences to running up a staggering debt of $22 trillion. There are no political consequences for doing so and there will be no political consequences so long as there is no pain. Indeed, the political consequences run the other way becausethose who complain about overspending tend to lose elections. Those who promised to keep the music playing tend to win elections.
“We have a spending problem.”
Sure doesn’t seem like it. Like all congresses they seem to have no problem spending. :)
Yup. Even going back to the Mullah’s days, I’d read about record tax payments and yet the debt kept growing.
“That’s on Congress, not on Trump.”
It is on both the Legislative and Executive Branches.
The president has the power of the veto. To date in his presidency Trump has not vetoed a spending bill. By signing the spending bills he agrees with them. He certainly has the power to veto spending bills and insist Congress reduce budgets or remove line items of spending as a condition for signing a bill.
As to Congress the article speaks to the GOP. The ugly truth is the GOP controlled Congresses in the 21st Century have not been fiscally responsible. During the George W. Bush administration the GOP House under Speaker Dennis Hastert went “earmark” crazy doling out billions of money to the home districts of the GOP congress critters such as the infamous $400 million “bridge to nowhere” in Alaska. In addition President George W. Bush could not locate his veto pen while his Republican colleagues were on their spending spree. Lest we forget the national debt doubled during the 8 years of the Bush presidency. As a final spending gesture when leaving office Mr. Bush pushed and signed the $700 billion TARP financial relief program to bail out the banks, and bailout the auto companies as well as spread pork around the country.
In the 2008 election the citizens of the USA voted a Democrat into the White House and a Democrat House of Representatives. During the 2010 Congressional elections the Tea Party, a grass roots movement of conservative voters fed up with Obamacare, tax increases and runaway spending, helped elect a GOP House of Representatives. Under the Constitution, the House of Representatives controls the power of the purse. However, under GOP House Speakers Boehner and then Ryan, the GOP House passed gargantuan spending bills which enabled another doubling of the federal budget during the 8 years of President Obama.
When George W. Bush was elected president in 2000 the federal budget was in balance. The Republican track record with respect to fiscal policy since 2000 has been as abysmal as the Democrat record. Republicans have made no real effort to reign in spending. They have cancelled no programs and have continued the ruinous practice of establishing a high growth “baseline” budget instead of enacting a flat baseline or even reductions.
Trillion dollar deficits are a function of the 21st century dereliction of duty by both political parties. Until I see Trump take a hard line and veto spending bills I’ll assume he is part of the problem, not the solution.
President Trump didn't expose this myth. The Republican Party exposed this myth. And it didn't happen in the last two years, either. Just go back and look at the fiscal disaster that unfolded in Washington during the George W. Bush administration when the GOP controlled both houses of Congress for much of the time.
Some of us supported Donald Trump as a candidate because we figured that as long as nobody in Washington has any fiscal responsibility at all, then we may as well at least have a patriotic nationalist in charge instead of a globalist stooge.
Or maybe not. The U.S. economy has improved in recent years but our GDP is growing at an anemic 2%-3% annual rate. However, the most recent GDP figures indicated that the single biggest line item among all the industry sectors has been a ridiculous growth rate in excess of 15% in the "Government, Non-Defense" sector.
In other words ... without massive piles of government spending, our GDP would probably be shrinking.
We have seen the enemy, and it is the American voter.
2009, 2010, 2011 and 2012 were higher.
Just sayin’.
Sorry, Dowcaet. Signing these “deals” were not his finest moments. They were destructive, billing those yet unborn.
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