Do we care about budget deficits / national debt anymore?

[toddc 13,197]

On 3/25/2018 at 7:05 AM, bigbird said:

It seems to me that the biggest fault is not the taxing issues, but rather the spending issue.  We can't seem to get the spending under control.  We either cut taxes and spend too much or we increase taxes and spend too much. No matter who is in control, If we ever want to start and really arrest the balooning deficit, then the real necessity is to fix the spending issues. 

Again, to me, the two parties have more in common than they do differences. Both see power as a way to maintain their status and increase their wealth and neither really care about the issues they claim to champion.

The best way to cut the deficits is to cut entitlements and all politicians run from that like the bubonic plague.

[RunInRed 18,354]

The federal deficit under President Donald Trump will top $1 trillion this yearT, the Congressional Budget Office announced in its annual fiscal outlook on Tuesday.

The gap between the amount of money the federal government spends and how much revenue it brings in is expected to continue to widen, averaging $1.3 trillion every year for the next decade. While the current economy is strong, the independent budget agency said the nation will suffer unless Congress makes “significant changes to tax and spending policies.”

Debt growing toward record level: The national debt topped $22 trillion just two years into Trump’s tenure, and federal debt held by the public is projected to rise to $31.4 trillion at the end of 2030, CBO said. That amounts to 98 percent of GDP.

https://www.politico.com/news/2020/01/28/federal-deficit-one-trillion-trump-107901

[Brad_ATX 13,654]

4 hours ago, RunInRed said:

The federal deficit under President Donald Trump will top $1 trillion this yearT, the Congressional Budget Office announced in its annual fiscal outlook on Tuesday.

The gap between the amount of money the federal government spends and how much revenue it brings in is expected to continue to widen, averaging $1.3 trillion every year for the next decade. While the current economy is strong, the independent budget agency said the nation will suffer unless Congress makes “significant changes to tax and spending policies.”

Debt growing toward record level: The national debt topped $22 trillion just two years into Trump’s tenure, and federal debt held by the public is projected to rise to $31.4 trillion at the end of 2030, CBO said. That amounts to 98 percent of GDP.

https://www.politico.com/news/2020/01/28/federal-deficit-one-trillion-trump-107901

Well gee.  Whoever could have guessed that cutting taxes and increasing spending would have resulted in this.

[DKW 86 7,907]

2 hours ago, Brad_ATX said:

Well gee.  Whoever could have guessed that cutting taxes and increasing spending would have resulted in this.

After 40 f'in years, have we not as a nation not figured this out? It is simple math.

[Brad_ATX 13,654]

12 hours ago, DKW 86 said:

After 40 f'in years, have we not as a nation not figured this out? It is simple math.

I do have one quibble.  That image, sir, is of Captain Hindsight and he deserves his just due!  

[DKW 86 7,907]

2 hours ago, Brad_ATX said:

I do have one quibble.  That image, sir, is of Captain Hindsight and he deserves his just due!  

So Hindsight isnt Obvious too? 😉

 

[RunInRed 18,354]

 

[aubearcat 2,163]

This is a look at a more micro level. I’d like to see it broken down by municipalities. The city/town I live in is growing economically as a more diverse population. The city I work for is shrinking and seems to be somewhat stagnant economically.