Interesting...so the highest amount was in 2010, about 2 years after Obama got elected, but democrats say that's Bush's fault....so this is 2018, 2 years since Trump got elected, so if we go by the same rules, then it's Obamas fault, right?
POTUS on ballooning debt "I won't be here" when it blows up
- Thread starter Cuddles
- Start date
Interesting...so the highest amount was in 2010, about 2 years after Obama got elected, but democrats say that's Bush's fault....so this is 2018, 2 years since Trump got elected, so if we go by the same rules, then it's Obamas fault, right?
Trump has been involved in numerous complete collapses. Before he was elected, Trump Tower in Toronto was a disaster almost the day it opened despite a very healthy local commercial real estate market. There was a large development in Florida that also collapsed into a litany of law suits and it was discovered that the head man was a convicted felon. There is nothing redeeming about the man beyond perhaps he was a successful reality TV star.
Obama temporally increased the deficit 200 billion from where he received it,than decreased it 600 billion from where he received it.
Trump has increased the deficit 400 billion from where he received it,twice as much as Obama.
Obama wouldn't have increased it all if he had received the same economy Trump did.Obama was lowering the deficet in the current economy while Trump has increased it 400 billion dollars a year.
Clinton turned a budget deficit into a 128 billion dollar a year surplus
Obama turned a 1.2 trillion dollar deficit into a 600 billion dollar deficit.
Bush turned a 128 billion dollar surplus into a 1.2 trillion dollar deficit
Trump turned a 600 billion dollar deficit into a trillion dollar deficit in less than 2 years
Obama turned a 1.2 trillion dollar deficit into a 600 billion dollar deficit.
Bush turned a 128 billion dollar surplus into a 1.2 trillion dollar deficit
Trump turned a 600 billion dollar deficit into a trillion dollar deficit in less than 2 years
The surplus was under a republican congress. The 1.2 trillion deficit happened under a democrat congress and was cut in half when republicans were elected back to congress. The deficit for 2018 was $779 billion, not 1 trillion. Also inflation will generally keep those numbers rising, so going from $600 billion to $779 billion is within normal fluctuations.
The presidents just signs the budget. Congress controls the purse. You learned this is 5th grade didn't you?
The cause for the 1.2 trillion dollar deficit was Bushs tax cuts,Bushs wars,Bushs unpaid for medicare expansion and Bush increasing military spending from 300 a billion a year to 600 billion a year.
All that was signed into law prior to democrats taking over Congress in 2007.While those programs were approved by Congress it was lead by Bush.
https://thehill.com/homenews/admini...se-budget-projects-1-trillion-deficit-in-2019
White House budget projects $1 trillion deficit in 2019
The White House’s midyear budget projections see federal deficits surpassing $1 trillion in 2019.
In an annual budget review, the White House’s Office of Management and Budget (OMB) estimated that new legislation enacted since the release of its February budget — alongside new projections on other spending and receipts — would add $101 billion more to the 2019 deficit, pushing it above $1 trillion.
https://www.cbsnews.com/news/federa...donald-trumps-first-fiscal-year-as-president/
Federal budget deficit hits 6-year-high in Donald Trump's first fiscal year as president
OCT 15, 2018 4:52 PM EDT MARKETS
CBS/AP
WASHINGTON — The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years, as President Donald Trump's tax cuts caused the government to borrow more heavily in order to cover its expanded spending.
The Treasury Department said Monday the deficit climbed $113 billion from fiscal 2017. Debt will likely worsen in the coming years with the Trump administration expecting the deficit to top $1 trillion in 2019, nearly matching the $1.1 trillion imbalance from 2012.
The deficit worsened because tax revenues are not keeping pace with government spending. The government's fiscal year runs from October to September, unlike calendar years that begin in January. Tax revenues were essentially flat in fiscal 2018, while spending increased 3.2 percent as Congress gave more funds for military and domestic programs.
Revenues generally tumbled after December when Trump signed into law a $1.5 trillion package of corporate and personal income tax cuts over the next decade. The tax cuts have helped cause economic growth to accelerate this year with Federal Reserve officials anticipating gains of 3.1 percent. But the Trump administration initially promised that the tax cuts would pay for themselves through stronger growth — and there is no sign so far of that happening.
https://www.wsj.com/articles/deficit-projected-to-top-1-trillion-starting-next-year-1531950742
Deficit Projected to Top $1 Trillion Starting Next Year
WASHINGTON—The Trump administration expects annual budget deficits to rise nearly $100 billion more than previously forecast in each of the next three years, pushing the federal deficit above $1 trillion starting next year.
Way to miss the point. He should be crying foul...the rate hikes should've started years ago and not all bunched up into his first 2 years in office. Anyone who doesn't think the Fed (at least some members) have their own political agenda is more than blind.
The deficit was cut in half because of Obama ending the war,Obama increasing taxes ,sequestration,cutting military spending,Obamacare and increased tax revenue from Obama improving the economy.
I guess you think that was more the republicans in congress than Obama
If republicans in Congress were so fiscally responsible why has the deficit increased to 1 trillion from 600 billion while they are still in control of Congress but Obama is gone?
Yes boohoo everything is targetted towards him, everything revolves around him. They just know that he would be the next president and just raises the interest rate on purpose during his term. LOL They are supposed to wait until 4 or 8 years later when he's out of the office, when the inflation rate is 10% and USA has to start selling off land to pay off the national debt, then and only then, they can start raising interest rate. Of course it would be during the first 2 years of the next president's new term but that, that he doesn't care. Of course then, the Fed doesn't have their political agenda. LOL