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Hot Topic (More than 10 Replies) Trump's budget increases deficit (Read 430 times)
forgotten centrist
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Trump's budget increases deficit
Jul 13th, 2017 at 11:57am
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WASHINGTON (AP) — A new government analysis of President Donald Trump's budget plan says it wouldn't come close to balancing the federal ledger like the White House has promised.

Thursday's Congressional Budget Office report says that Trump's budget, if followed to the letter, would result in a $720 billion deficit at the end of 10 years instead of the slight surplus promised.

CBO said Trump's budget would reduce the deficit by a total of $3.3 trillion over 10 years instead of the $5.6 trillion deficit cut promised by the White House. The nonpartisan scorekeeper estimated that deficits in each of the coming 10 years will exceed the $585 billion in red ink posted last year.

https://www.yahoo.com/news/cbo-trumps-budget-doesnt-balance-federal-ledger-15184...
  

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Re: Trump's budget increases deficit
Reply #1 - Jul 13th, 2017 at 12:03pm
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forgotten centrist wrote on Jul 13th, 2017 at 11:57am:
WASHINGTON (AP) — A new government analysis of President Donald Trump's budget plan says it wouldn't come close to balancing the federal ledger like the White House has promised.

Thursday's Congressional Budget Office report says that Trump's budget, if followed to the letter, would result in a $720 billion deficit at the end of 10 years instead of the slight surplus promised.

CBO said Trump's budget would reduce the deficit by a total of $3.3 trillion over 10 years instead of the $5.6 trillion deficit cut promised by the White House. The nonpartisan scorekeeper estimated that deficits in each of the coming 10 years will exceed the $585 billion in red ink posted last year.

https://www.yahoo.com/news/cbo-trumps-budget-doesnt-balance-federal-ledger-15184...


Well, St. Ronald never delivered on that promise, either.  Never even attempted to.  If he can get away with it, surely a charlatan like the Donald can get away with it, too.
  

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Re: Trump's budget increases deficit
Reply #2 - Jul 13th, 2017 at 12:37pm
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We can't balance the budget right now. It would decrease GDP and possibly affect our credit rating which would negatively affect debt service. It isn't happening anytime soon.
  
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Re: Trump's budget increases deficit
Reply #3 - Jul 13th, 2017 at 12:41pm
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A balanced budget (particularly that of a government) refers to a budget in which revenues are equal to expenditures. ... Most economists agree that a balanced budget decreases interest rates, increases savings and investment, shrinks trade deficits and helps the economy grow faster in the longer term.


https://en.wikipedia.org/wiki/Balanced_budget
  
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Re: Trump's budget increases deficit
Reply #4 - Jul 13th, 2017 at 12:43pm
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No repug in forty years has had a balanced budget


But they talk big
  

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Re: Trump's budget increases deficit
Reply #5 - Jul 13th, 2017 at 12:45pm
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forgotten centrist
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Re: Trump's budget increases deficit
Reply #6 - Jul 13th, 2017 at 1:10pm
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Putting aside the radical notion of "balancing" the budget -- here we're seeing that Trump's budget is *increasing* the deficit.

One of the pillars of the republican party has been how terrible the deficit is and how terrible it is that Obama doubled the debt.

Now Trump's own proposals are INCREASING the deficit.  There isn't even a nod toward budget austerity.
  

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Re: Trump's budget increases deficit
Reply #7 - Jul 13th, 2017 at 1:12pm
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forgotten centrist wrote on Jul 13th, 2017 at 1:10pm:
Putting aside the radical notion of "balancing" the budget -- here we're seeing that Trump's budget is *increasing* the deficit.

One of the pillars of the republican party has been how terrible the deficit is and how terrible it is that Obama doubled the debt.

Now Trump's own proposals are INCREASING the deficit.  There isn't even a nod toward budget austerity.


You're right and it was something pointed out when he was making his campaign promises.
  
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Re: Trump's budget increases deficit
Reply #8 - Jul 14th, 2017 at 3:13pm
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forgotten centrist wrote on Jul 13th, 2017 at 1:10pm:
Putting aside the radical notion of "balancing" the budget -- here we're seeing that Trump's budget is *increasing* the deficit.

One of the pillars of the republican party has been how terrible the deficit is and how terrible it is that Obama doubled the debt.

Now Trump's own proposals are INCREASING the deficit.  There isn't even a nod toward budget austerity.


Why should we consider austerity right now?
  
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Re: Trump's budget increases deficit
Reply #9 - Jul 14th, 2017 at 6:37pm
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michiganFats wrote on Jul 13th, 2017 at 12:37pm:
We can't balance the budget right now. It would decrease GDP and possibly affect our credit rating which would negatively affect debt service. It isn't happening anytime soon.

Grin
You sound like Obama.  The GOP congress did not agree with that.  But I bet they do now since Trump is in office.
  

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Knowing the truth, seeing evidence of truth, but still believing the lie.
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