Posted on 05/10/2019 3:55:16 PM PDT by detective
The federal government recorded a $160.3 billion surplus in April as revenues for the month jumped to an all-time high. But even with a flood of tax receipts, the deficit so far this year is running 37.7% higher than a year ago. The Treasury Department reported Friday that the deficit for the first seven months of the budget year that began Oct. 1 totals $530.9 billion, compared to a deficit of $385.5 billion for the same period a year ago.
The Trump administration projected in March that this year’s deficit will hit $1.1 trillion, up from last year’s deficit of $779 billion. The administration is projecting the deficit will stay above $1 trillion for four straight years before starting to decline for the rest of the decade.
(Excerpt) Read more at apnews.com ...
Newt and grew didn’t balance the budget. They didn’t run a surplus, or pay any extra to the debt.
Government is broke - not zeestephen.
“Newt and grew didn’t balance the budget.”
I’ll have to check, but I think they did ... I think there was one year the government ran a surplus in the 1990s, but there was obviously still a national deficit in the trillions.
The media claimed that Clinton balanced everything of course due to his tax hikes in the early 1990s. They also tried hard to make it seem like the USA was debt free, the business cycle was solved, and that only good times lie ahead.
Of course, as the economy grinded to a halt throughout 2000, Bush got all of the blame the moment he took office (that frigging moron, even considering 9/11, could have, at a minimum, maintained a balanced budget seeing that he had the House and Senate when he was elected ... he spent like a Democrat though and the rest is history).
Absolutely not.
Obama destroyed the economy and created massive deficits.
Democrats are keeping spending out of control.
But President Trump, despite being sabotaged, is turning it around.
Great job President Trump.
You don’t turn around the economy overnight.
Democrats are still sabotaging the economy and preventing spending cuts.
But President Trump is starting to turn things around.
Pass a law saying “the government will only fund education where a significant long-term improvement of skills and knowledge can be demonstrated and will only fund health care that adds at least three months to life expectancy or significantly reduces the burden from a disability.” That would knock out most education spending and about half of health care spending.
Taking in more than we spend is the only way we’re going to pay down the debt.
Unfortunately, this was April, tax month. Next month won’t be like that.
We’ll be back to deficit spending.
On Education.
The Federal Gov’t passes “national” Tax dollars through to the States for “Education”. In order for the States to get the money they MUST comply with Federal Government Guidelines.
The States need to “Just say NO” to the money and the gov’t rules.
They should pass a Law that would allow the States to get their portion or States contribution back from the Feds with NO STRINGS attached.
Or, We should just close down the Dept. of Education completely.
For the most part the Federal Government is just “Pass Through” for our tax dollars but those dollars come with rules that undermine State Sovereignty. Almost ALL of our “Gov’t programs” are administered by each State and these States are addicted to the money.
For years we have been fighting the Feds to cut spending and balance the budget and we get nowhere.
I say, the way to balance the budget is for the States to refuse money from the Gov’t and to refuse to live by their rules.
Flood these departments and agencies with money, more money than they can spend and write a few simple laws that returns those funds to the States in which they came from.
You’e all nuts :)
I haven’t seen this many excuses since I was in high school and didn’t have my homework finished.
We had TWO years of Rs this time. A BUNCH of years under W where we had both chambers.
And W doesn’t count because he was a traitor and a rat b....t son of a b...h traitor...Though THEN everyone was defending him.
TRUMP IS a great president, but unless he gets a majority of REAL CONSERVATIVES in both chambers in 2020, we’re ####ed as a country long term with these deficits.
I didn’t know prosperity was a coming 30 trillion dollar deficit.
Even though it’s a small fraction, we’re coming upon owing 1/30th of a number, the name of which I DON’T EVEN KNOW!!!!!!!
Will I live to see us owe 1/10 of a number I don’t even know the name of!?!?!
I’m 51. We’ll see.
SMH.
Well, I think the Japs owe 200 percent of their GDP so we’re good for a while.
There’s a LOT of red states in the top 20 that take the most.
It’s actually some blue ones that give more than they get in that top 20.
That’s gotta change too. That’s not a Conservative state that does that.
May be a RED state, but it’s not a conservative state.
There’s a LOT of red states in the top 20 that take the most.
It’s actually some blue ones that give more than they get in that top 20.
That’s gotta change too. That’s not a Conservative state that does that.
May be a RED state, but it’s not a conservative state.
Great job? With a trillion dollar deficit? I assume you left off the sarcasm tag.
Who am I to stand in the way of a pessimistic FReeper? You’re everywhere.
1. The deficit will never decline nor will the debt.
2. Politicians will piss away or steal any surplus.
Trump is doing a great job on most fronts but is but a speed bump on the downhill road to ruin.
Always. Or more.
April is always a surplus month because of all the tax $ mailed in on the 15th.
A $1.1 trillion deficit is a great job? Did you forget the </sarcasm> tag?
So if we have a $1.1 trillion deficit this year and an $800 billion deficit in five years will you cheer the President and call him a deficit hawk?
Obama had deficits well over $1 trillion.
Democrats are sabotaging efforts to control spending.
Revenues are up under President Trump. The economy is strong.
Trump is beginning to turn things around despite being sabotaged at e very turn.
>>the deficit will stay above $1 trillion for four straight years before starting to decline for the rest of the decade<<
...provided we’re not engaged in yet another 2 to 4 Trillion dollar war.
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