Posted on 08/28/2019 12:45:49 PM PDT by ChicagoConservative27
(CNN)The Congressional Budget Office has predicted the federal deficit could reach $1 trillion by the 2020 fiscal year. Once again, President Trump has exposed a myth in American politics. That myth? That Republicans are the party of fiscal responsibility.
He is just the latest Republican president to demonstrate this. His drive for corporate tax cuts, which received strong Republican support, has blown a huge hole in the federal ledger. Tea Party Republicans once railed against President Barack Obama's spending habits. As the deficit has grown under Trump, however, they've suddenly changed their tune. Acting Chief of Staff and Office of Management and Budget Director Mick Mulvaney, who was once known as a fiscal hawk, has admitted the Trump administration is "spending a bunch of money on stuff we're not supposed to."
(Excerpt) Read more at cnn.com ...
I wonder if anyone informed Congress? I thought the House appropriated all Spending,.
FOAD
Obama and Congress created a $1 Trillion base line, in the budget, that has no accountability to it....
And then, mean it.
Yep, agreed....and part of the early Obama deficits were Bush II "great recession" "stimulus/QE" budget items agreed to in the first couple of Obama CR's. Obama was running about $500 billion deficits during his last 4 years. President Trump's best chance at a more balanced budget was his first two years, and despite that his administration didn't even PROPOSE a balanced budget during that time...at least throw one out there so you can say you tried!
President Trump is on track for $7.4 trillion in deficits if he is reelected next year. Fiscal policy (budgeting) is probably his weakest area. Fortunately he is much better on foreign affairs, deregulation, judge appointments, etc..
There’s an easy cure for this.
SHUT, DOWN, THE, GOVERNMENT
No one worried about Obama’s deficits.
Definitely a spend in problem!
GOP Myth was that Republicans were actually republicans. Trump has exposed them all as RINOs and back stabbers and Frauds of the American people.
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Amen. I still can’t believe how few conservatives understand this.
Republicans had both houses of Congress from 2017-18 and the US Senate from 2019 to the present.
The Republicans have been a huge part of the problem.
Debt is going to seriously weaken this nation.
If I were in that financial shape, I’d be retired. And here’s the thing: You can always find ways to make “some” money, but doing things you like. Writing, making videos, refinishing furniture, whatever.
I wonder how many people at those farmers markets that sell non-food craft stuff are retired.
BTW, Speaking of worse than 2008, I think you are right. The house we lived in in Seattle was valued by zillow at about $350k before the crash. Just before the crash it was at about $530. After the crash it was at about $260k.
It’s currently at $1.4 million. That’s a heck of a bubble. It may explain why they are starting up sub-prime loans again. So freakin’ predictable.
A %20 import tariff wold eliminate half the annual budget deficit overnight.
Most Establishment Republicans feel like a tariff would hurt consumers and want to protect them but have no problem raising income taxes on workers. The world is upside down.
If I was Trump I would wait until Nov 2020 then go after the budget with a meat cleaver! That way they can’t run those ads of Trump starves children.
True. If you're willing to raise taxes on consumers through one means I would be very suspicious if you said you didn't want to raise taxes on them through another.
You should have stopped at True.
That would have been dishonest.
The famous “bridge to nowhere” in Alaska was never built.
“The famous “bridge to nowhere” in Alaska was never built.”
The bridge was funded in March 2011. It was defunded in 2015.
During her campaign for Governor in 2006 Sarah Palin expressed support for the bridge. In 2007 as Governor she decide to restrict capital spending and removed the state of Alaska’s $185 million share of the funding. In September 2007 she formally cancelled the project.
However, after cancelling the bridge, her administration went ahead and spent the $25 million of federal road money designated to build the Gravina Island Highway to the bridge. Since the bridge was not built, the highway is known by locals as “the highway to nowhere.” It was a complete waste of federal tax money.
Hundreds of millions of other earmark money appropriated by Republican Congresses has been spent. It is noteworthy the GOP, when it controlled both houses of Congress in this century, has continued to fund Planned Parenthood and other key Democrat party programs including hundreds of millions of dollars in grant and project money that essentially funds many of the social justice organizations closely tied to supporting Democrat candidates. The same Republican Congresses have been unwilling to fully fund the southern border wall.
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