The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.
Showing posts with label US Deficit. Show all posts
Showing posts with label US Deficit. Show all posts

Wednesday, October 17, 2018

US Deficit Increased By 17% Over 2017

Image result for republican fiscal conservatives

Yesterday we posted a short piece about the White House and the CBO's recent revelations of a 17% increase in the US deficit. That is a 17% increase over last year's Deficit increase. the nation went from $666 billion deficit in 2017 to a $770 billion deficit in FY 2018.

Here is what perspective looks like. From Obama to Trump and a hefty tax cut for the nations wealthy.

Related image

Of course, you recall the many on-camera appearances of Paul Ryan, Trump and McConnell as well as other GOP politicos speaking about how the wealthy American tax cut would not increase the Deficit. Did you actually believe them?

Since you are reading this post vs speaking with a person, it is OK, to honestly consider your faith in (pre-tax cut) GOP rhetoric as the party works to legislate for its constituency (not me and you).  

Well, Democrat Chuck Schumer's Twitter page addresses the rhetoric of which you may have bought into.  
Is there any veracity at the inner core of the GOP?  

The question is rhetorical.

And, the ultimate Trump/Ryan/McConnell victims?  The poor according to Forbes.

On another front, it appears we have another permanent ward of the state who fought to force you to work past age 70.

Image may contain: 2 people, people smiling


Tuesday, October 16, 2018

As Trump 's World Turns: 17% US Deficit Increase From The Fiscally Conservative GOP

Thanks To The Trump Economic Team

The US Deficit hit the $779 billion mark at the end of last month; the end of 2018 Fiscal Year. The 2018 deficit is the largest deficit in the past six years. The increase represents a 17% jump of last year's deficit of $666 billion.

The New York Times
Image result for us deficit 2018 chart

There is an interesting set of trends lines associated with the chart. When did Barack Obama serve as US President and when did he leave office?  The questions are rhetorical.

The Committee for Responsible Federal Budget

Related image
A deeper historical review of the US Deficit.

US Federal Deficit by Year - plus charts and analysis - US Government ...\

A point made and reinforced. Any perception you may have held about the GOP and fiscal conservatism is as ridiculous as the GOP claiming it isn't the party of growing US Nazism and white supremacy. 

Should we expect the deficit under Trump and his economic cabal to reach $1 trillion in 2019 or 2020? Before you take a guess to know that the both the White House and the Congressional Budget Office says, "yes" we; we are looking at a trillion dollar deficit.  

NPR also published a piece on Trump's Deficit spending in relation to his and Paul Ryan's Tax cuts for the wealthy.

MSNBC's Ali Velshi also broadcast a segment on Trump's Deficit.

The real horror in the Deficit report is based on economic trends. The Deficit has a history of shrinking during economic booms.  Barack Obama left Trump a vibrant economy which Trump and his team haven't yet managed to collapse. The GOP tax cut for the wealthy is playing havoc on the Deficit while we, as citizens, are scurrying around with Trump's daily lies. silliness and outright baby-like behavior.

As you consider the reality of the US Deficit blowing up like a hydrogen bomb the Senate leader has the gall to point to government spending without any acknowledgment of their wealthy Americans tax cut. These people really do consider US citizens suckers.

McConnell and the Washington Post
McConnell calls deficit ‘very disturbing,’ blames federal spending, dismisses criticism of tax cut

No, the GOP isn't the purveyor of fiscal conservatism. If you continue to believe it is such you are maybe blind, suffer from chronic hearing disease and, or you are a Fox News viewer.

Sunday, December 27, 2015

GOP And The Deficit?

A post-Christmas visit from Mike Victor. And, a timely one at that.

Mike Victor

The deficit fell from 9.8% of GDP in 2009 to 2.8% recently. Although any positive deficit is bad since it adds to the debt, it's obviously better to slow  Obama administration as the government had to continue TARP and do some stimulus spending to reverse the Bush Great Recession).

But to argue that the debt started or the deficit worsened under Obama or that the size of government increased is simply lying. There is no other, gentler way to put it. It's not quite the same magnitude of lie as the idea that 5% unemployment is evidence of a terrible economy, ObamaCare represents a government takeover of healthcare, or that 4 dead in Benghazi under Obama represent a greater scandal that 3,000 dead on 9/11/01 under Bush, but it's close.

The upcoming budget and tax deals make it clear.


Friday, March 21, 2014

A Falling Deficit: A Concern and A Relevant Retort

Andrew Rei has responded to a lengthy piece from The National Memo. The National Memo piece is a full six pages and embodies the Memo author's, Jason Sattler's views on the falling deficit. As you can see from the title and associated parenthetic comment, Sattler isn't convinced a falling Deficit as we see the declined today is "all good." 

The National Memo


By Jason Sattler

5 Reasons The Deficit Has Fallen By Nearly $5 Trillion (And Why That’s A Bad Thing)

March 19, 2014 4:28 pm  

This year’s deficit will likely be $514 billion, down about a quarter from last year’s deficit of $680 billion, which was down by more than a third from the year before.

Read more after break below


Sunday, February 24, 2013

Obama Administration and Sequester Breakdown (State-by-State)

President Obama and his economic team have proactively revisited the looming fiscal "sequester". The last proposal to House speaker Boehner was met with continued posturing in effort to place total blame for the issue on the resident.  As with any rational leadership recognition of the issue and  its critical om our fragile economy, needs continued efforts to move towards resolution.  If you recall we received reports last week that President Obama called both Boehner and McConnell.  It is duly noted,  we are not seeing like efforts to resolve the sequester from Republicans in Congress.

Multiple news sources are reporting the release of a detailed state-by-state breakdown of the effect of a fully enacted sequester.  The details look dire.  For those who do not feel the march sequester date is a jump-off point for fiscal collapse (Albeit temporary), my unqualified mind tells me, "Who the hell knows the truth and full impact." Have we been at this point in the past? The answer is "no."  We are not confident of any theory, theorem, posit, or opinion.  The bottom-line is, why do we have to go there at all?

WASHINGTON -- It's looking increasingly like the government is about to impose on itself $85 billion in across-the-board spending cuts. So as part of its strategy to pressure Republicans into accepting new revenues as part of a deal to prevent the sequester from taking effect, the White House released new reports on Sunday that outline the ugly effects those cuts would have in individual states.
Each state's report is linked below. But Jason Furman, principal deputy director of the White House's National Economic Council, pulled out some state-specific examples of the ways the cuts will hurt education, national defense, public health and the economy.
In Ohio, 350 teacher and teacher-aide jobs are at risk, which means 43,000 fewer students will be served, Furman said on a Sunday conference call with reporters. In Virginia, 90,000 civilian Department of Defense employees would be furloughed. About 4,180 fewer children in Georgia would get vaccines and, in Kentucky, 400 fewer victims of domestic violence would end up being served.
Read more 

The state by state breakdown of deficit cuts are as follows (States are reported as posted on Huffington Post)

2. Alaska
10. Florida
11. Georgia
12. Hawaii
13. Idaho
15. Indiana
16. Iowa
17. Kansas
20. Maine
27. Montana
29. Nevada
36. Ohio
38. Oregon
44. Texas
45. Utah
46. Vermont
51. Wyoming

Additional news source:  USA Today

Why would you place one bit of fiscal faith in the GOP. 

If we forget the past we are doomed to relive it!


Friday, January 11, 2013

Obama's Deficit According to Maddow

Tonight's Rachel Maddow Show included an interesting segment on President Obama, the US Deficit and past Deficit History.  I should add Maddow also expend a appropriate amount of broadcast time on the complete fallacy of GOP Budget and Deficit acumen. 

We cut the first 2:25 minutes of the segment as it is about an Obama quip federal governance, peacocks and jerks. The quip was purely focused on humor and did not include the GOP as object of his humor.