It's Official: 2018 Federal Deficit Largest Since 2012

Discussion in 'Politics, Religion, Social Issues' started by RootBeerMan, Oct 15, 2018.

  1. RootBeerMan macrumors 65816

    RootBeerMan

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    #1
    "The federal government spent $790 billion more than it taxed during fiscal year 2018. The deficit is about to get worse. Much worse."

    So much for Republicans being fiscally conservative. While Democrats may be the party of tax and spend, it is abundantly clear that the Republicans are the party of borrow and spend, which is far worse. We are headed for a fiscal disaster and there is no-one up there in DC who is going to do a damned thing about it, except put the pedal to the metal. The spending must stop. The borrowing, too. If these idiots cannot balance a budget, as every business and household in the country has to, then they must ALL be shown the door. The partisan politics must be set aside and people must vote these cretins out of office and replace them with people who will take the reins and restore some semblance of fiscal responsibility to the government. If this continues we'll end up like Zimbabwe or Argentina. If you believe in "country first" over party, then your job as a voter is clear, folks.

    https://reason.com/blog/2018/10/15/its-official-2018s-federal-deficit-the-l

     
  2. GermanSuplex, Oct 15, 2018
    Last edited: Oct 15, 2018

    GermanSuplex macrumors 6502a

    GermanSuplex

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    #2
    The issue is, we can’t decide what money the government takes in is spent on, and our tax laws. Until we solve that, it will be cyclical, growing debt.
     
  3. lostngone macrumors 65816

    lostngone

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    #3

    How much will Mexico give us for California?
     
  4. RootBeerMan thread starter macrumors 65816

    RootBeerMan

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    #4
    What we know is that we are spending too much money in every area and cuts must be made. It's a big **** sandwich and everyone is going to have to take a bite, like it or not. There are plenty of areas in government spending that are ripe for cutting. It's just a matter of the idiots up there getting a spine and doing it.
    --- Post Merged, Oct 15, 2018 ---
    Like it not, California is a big contributor to our economy. We can't do without them. Flippancy will get us nowhere.

     
  5. lostngone macrumors 65816

    lostngone

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    #5
    Well borrow and spend hasn't worked either for California OR the U.S. maybe we need to think of alternatives to get us out of debt. Lets sell Alaska back to Russia and Hawaii to China.
     
  6. samcraig macrumors P6

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  7. lostngone macrumors 65816

    lostngone

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    #7
    We are winning just like my last trip to Vegas....
     
  8. GermanSuplex macrumors 6502a

    GermanSuplex

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    #8
    In the age of not giving an inch, nobody will be willing to give the mile needed to solve this.

    Even in the areas we think we disagree on, ironically, there are large amounts of agreements, largely based on what the voters in a certain representative's district/senators State want. For instance, heavy industrial cities may be totally conservative but largely pro-union, or crop-growing communities heavily dependent on immigrant labor.

    I don't have an answer, just an observation really.
     
  9. vrDrew macrumors 65816

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    #9
    The growth in the deficit this year is totally on the Republicans and Trump.

    No blaming a Democratic Congress. No blaming Obama. No blaming entitlements or the poor.

    This deficit is the result of massive military spending increases, while we are at peace. And a massive tax cut, for the richest Americans, while the economy is strong and expanding.

    This is fiscal irresponsibility brought to a new height. And what is worse, it will effectively tie the hands of the Federal Government to respond when (and not if) the economy goes into recession.

    I'd like to slap those Tea Party imbeciles in the face for what they have brought us to. Whining like little babies about debt and deficits when Obama and Congress tackled the worst financial crisis in almost a century. And sitting silent while the Shitgibbon and the Republican Congress bankrupt the Government and mortgage our future during a time of growth..
     
  10. lostngone macrumors 65816

    lostngone

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    #10
    So, how much did the deficit shrink when we had a democrat in office for the last 8 years?

    Oh that’s right it didn’t....
     
  11. GermanSuplex macrumors 6502a

    GermanSuplex

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    #11
    The republicans' harping of being "fiscally conservative" is a joke. You do not cut taxes at the same time you are bragging about record numbers, which Trump wasted no time in doing - barely before the rainfall from his dreary inauguration had dried.
     
  12. vrDrew macrumors 65816

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    #12
    Sorry, but it did.

    The deficit shrank from $1.2 trillion in 2010 (while the US was still recovering from the effects of the financial meltdown) to $438 billion in 2015. It did increase in 2016, due mainly to demographic factors.
     
  13. RootBeerMan thread starter macrumors 65816

    RootBeerMan

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    #13
    You know better than that, lost. Who controls spending in the government? The Congress. And which party has been in control of the Congress for most of the last 10 years? Well? Yeah, Obama is totally guilty for not having a spine and vetoing their lavish spending bills, but they are the ones who crafted the spending bills, and showed no regard for our fiscal solvency or the future.
     
  14. GermanSuplex macrumors 6502a

    GermanSuplex

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    #14
    The answer, as I ruminate, is pretty much the same in a LOT of cases; get big money out of politics, watch the problems solve themselves. Watch a small-city pro-union/social conservative get results done, move up, watch a social liberal/fiscal conservative get results done, get name status, move from local to state-wide to national politics.... watch them gain donations and votes based on accomplishments, records, etc. instead of simple cable news and previously-known name power.... we may see some things change.

    If candidates have to rely on voters first AND voters as donors second - instead of donors first and voters second - you would see things change.
     
  15. bradl macrumors 68040

    bradl

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    #15
    So... this effectively is saying that the deficit started to increase when the Republicans gained control of both the House and Senate. And we thought they were the hawks for conservatism and limiting spending?

    Oh please, say it ain't so!!!

    BL.
     
  16. T'hain Esh Kelch macrumors 601

    T'hain Esh Kelch

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    #16
    China is going to completely own the US in 20-30 years. And not just in a figural sense. And it will somehow come as a surprise to many americans.
     
  17. Eraserhead macrumors G4

    Eraserhead

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    #17
    Unless you count Oxford and Cambridge as small cities I don’t think there are any small cities with any significant number of competent politicians.

    Even in the most well run parts of the U.K. the percentage of competent councillors is probably around 20%.
     
  18. Chew Toy McCoy macrumors regular

    Chew Toy McCoy

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    #18
    We should have our military take out our poor people. There, I balanced the budget.
     
  19. FrenchRoasted macrumors regular

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    #19
    The debt and deficit have been growing more or less since the 1960s, no one politician or political party gets all the blame. I agree the Republicans have somehow managed to market the idea of fiscal conservatism while doing the exact opposite, but none of this really matters.
    Please tell me how this will ever be fixed? It won't. We'll never balance the budget, the debt will never be repaid. The question is, how will the Fed government default? I'm betting on inflation.
     
  20. mac_in_tosh, Oct 16, 2018
    Last edited: Oct 17, 2018

    mac_in_tosh macrumors 6502

    mac_in_tosh

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    #20
    Of course the GOP now wants to go after entitlements while not acknowledging the role of the tax cuts in growing the deficit.
     
  21. bradl macrumors 68040

    bradl

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    #21
    Not for nothing, but 18 years ago, we had not only our budget balanced, but were left with a $88 billion surplus.

    BL.
     
  22. FrenchRoasted macrumors regular

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    #22
    It was for nothing. We only had a surplus because we were "stealing" from Social Security in exchange for IOUs on top of a FED fueled bubble.
    I will give you Bill's tenure was less expensive as he started fewer wars, just bombing aspirin factories and what not. I'll take White House bl** **bs over bombings any day of the week.
     
  23. NT1440 macrumors G5

    NT1440

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    #23
    That’s always been the plan. They run up debts then immediately turn around and say we need to cut any semblance of society left in the country to save money...then hand another trillion to the wealthy and military desperately.
     
  24. ActionableMango, Oct 16, 2018
    Last edited: Oct 16, 2018

    ActionableMango macrumors G3

    ActionableMango

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    #24
    That was a bubble from the dot com boom. I remember it was crazy times. Buy into IPOs, you can't lose. Dot coms that never made money had their stock values multiplying over and over. The new Internet Economy was going to make the entire middle class rich. Everyone on board the gravy train. It was a record high for US corporate equities (stock value) vs US GDP (actual output):

    upload_2018-10-16_11-15-8.png

    Nothing made any sense, which is exactly why reality intruded later and there was a huge correction called the Great Recession.

    What scares me is that we are once again getting close to that record high ratio...and in a time of increasing tariffs and trade wars. It doesn't make any sense. I normally don't believe in timing the market, but I do feel like I need to do something.

    Anyway, outside of some huge tax windfall from an overly exuberant and non sustainable bubble like 2000, the only way to get to fiscal responsibility is difficult political change from both parties and a willingness to work together to solve the problem. I still see a lot of people thinking that the problem doesn't even exist, so it's a long road.
     
  25. bradl macrumors 68040

    bradl

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    #25
    No argument there, but the point here was that the budget was balanced and that we were left with a surplus. What happened because of that surplus and what was done with that surplus and the results of the economy at that time is a different issue altogether.

    BL.
     

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27 October 15, 2018