In an effort to finance the yawning budget gap, Treasury has signaled it will step up the pace of debt issuance, borrowing $769 billion in the second half of the current calendar year. That would be the most since 2008.

The same amount of borrowing as the year of the Great Recession, and in an economy with 3.7% unemployment and a 25,000 point Dow?

http://www.bloomberg.com/news/...bs-to-a-six-year-high


Edit: Forgot link.



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I was right.

Edited: 10/16/2018 at 05:08 AM by Cole

"4 Republican policies led to a $779 billion deficit in 2018:

- Bush Tax Cuts: $488 B
- Trump Tax Cuts: $164 B
- Wars in Iraq and Afghanistan: $127 B
- Defense increases since 9/11: $156 B

Without tax cuts for the wealthy and endless wars we would've had a $156 billion SURPLUS." Bernie Sanders Twitter

Under what possible theory have tax cuts "paid for themselves?"



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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

The idiots on the right put the country in danger. Isolationist nut bags printing money as fast as they can. They are old and on the way out making their last grab for everyone's cash. PS they don't give a $hit about the environment.

Wasn't tax cuts. We had record revenues in 2018 from individuals. Tax payments go up when people are working. The problem is that we spend more than we brought in. Let's start by cutting entitlements, EPA funding and eliminate the Dept of Education. Since progs are now deficit hawks (haha), we should be in agreement.

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I :heart; Q

Make America Polluted and Stupid Again!* *but at least CEOs will get windfall bonuses

Edited: 10/16/2018 at 06:53 AM by Plan B

Pretty friggin short sighted and ridiculous..... the most ridiculous point being that this cycle continuously gets repeated with the same results.

TpApologist in the house!

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When America was "great"

Well, Trump has certainly made certain people stupid again. Go take a leisurely stroll through the "Trump is going down" thread. The fools came out in droves on that thread. Of course, they are on this one as well.

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I :heart; Q

The stupid people are the ones that pretend that you can make money by giving it away.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

From Bloomberg link above: "Corporate income-tax receipts fell 31 percent in fiscal 2018 while individual income taxes gained 6.1 percent, according to Treasury data." Lovely. Is that how voodoo economics work? Trickle down and up?

Hey Tspank can you tell us what they are saying about this on Fox and Friends or Outnumbered? That's where you get your econ edumacations right?

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When America was "great"

McConnel says no problem, just cut Medicare and Social Security

http://www.msnbc.com/rachel-ma...curity-address-deficit

Yeah, big tax cuts to people that can't spend what they have, then complain about a deficit and look to cut Social Security and Medicare.

The GOP has wanted to cut these for years.

Peons, keep listening to Faux Entertainment and support elites that want to make it harder for you to have a decent retirement.

The wall is more important.

That's exactly what we should do. If we don't, you fools will be the ones to suffer when the system goes bankrupt, which it will do very soon. Won't matter to me one bit, as I will be come eligible for benefits in 3 months and they aren't going to mess with my demographic. Now as much as I enjoy seeing progs suffer, they are only 8% of the population and it isn't right that real Americans will also suffer.

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I :heart; Q

We had record revenues in 2018 from individuals.

Duh, working America got the short end of the stick when it came to these, "tax cuts."

31% drop for corporations, plus 6.1 for the working man and woman.



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I was right.

Edited: 10/16/2018 at 04:54 PM by Cole

Cutting entitlements? They cant possibly be honest about that. And they wont be.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

Just read this comment about the "reform" of SS and Medicare:

I'm a 70 year old white guy. Let me state this clearly. The Republican party is coming after our Social Security and Medicare to pay for their g**damn tax cut. Anyone who likes these programs (virtually everyone) and votes for ANY Republican is an idiot!

Word.

Well, I am a 61 y/o indian. Typical old white guy foolishness

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I :heart; Q

Under the Tax cuts: Individual income tax revenues are up by 5% through September. Other major sources of revenue climbed as well, as the overall economy revived. FICA tax collections rose by more than 3%. Excise taxes jumped 13%. The only category that was down? Corporate income taxes, which dropped by 31%. Overall, federal revenues came in slightly higher in FY 2018 - up 0.5%. Spending, on the other hand, was $127 billion higher in fiscal 2018. As a result, deficits for 2018 climbed $113 billion. Obama's last year: Individual income tax revenues went up by a mere 0.3%, Treasury data show. Fiscal 2016 also saw a 13% drop in corporate income taxes. FICA tax collections climbed by less than 1%. Excise tax collections dropped almost 3%. Overall revenues increased by 0.5% - about the same as this year. The deficit? It climbed by $148 billion. Trump wins again, folks.

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I :heart; Q

Um, the deficit, Trump's deficit, will be a trillion in a year.

Perhaps more than the year of the Great Recession. Plunging into debt in a good economy is winning?

The Obama numbers prove that corporation were paying no where near 35%.

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I was right.

Edited: 10/18/2018 at 08:11 PM by Cole