Trump could slash deficit $1.4T by reversing these Biden executive actions on day one: report

[HARK!]

WASHINGTON — President-elect Donald Trump can cut the federal deficit by $1.4 trillion over the next decade by rescinding President Biden’s executive actions, according to a report.


The potential cost-cutting was identified by the Committee for a Responsible Federal Budget, a nonprofit that advocates for fiscal restraint, as Trump’s informal Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, looks for areas to slash spending.

Trump could slash deficit $1.4T by reversing these Biden executive actions on day one: report

Trump’s informal Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, is looking to slash “at least $2 trillion” in spending, according to the Tesla billionaire.

nypost.com

 

[Akita Suggagaki]

Oh, I think we can expect the deficit to rise very sharply. Let's just wait and see.

 

[HARK!]

Oh, I think we can expect the deficit to rise very sharply. Let's just wait and see.

Not as sharply than if we don't start making cuts.

 

[durangodawood]

WASHINGTON — President-elect Donald Trump can cut the federal deficit by $1.4 trillion over the next decade by rescinding President Biden’s executive actions, according to a report.


The potential cost-cutting was identified by the Committee for a Responsible Federal Budget, a nonprofit that advocates for fiscal restraint, as Trump’s informal Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, looks for areas to slash spending.

Trump could slash deficit $1.4T by reversing these Biden executive actions on day one: report

Trump’s informal Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, is looking to slash “at least $2 trillion” in spending, according to the Tesla billionaire.

nypost.com

I would be shocked if Trump doesnt use deficit funded tax cuts and spending like a line of coke to pump up the party vibes.

 

[chevyontheriver]

I would be shocked if Trump doesnt use deficit funded tax cuts and spending like a line of coke to pump up the party vibes.

Targeted tax cuts increase productivity and increase tax revenue, thus decreasing deficits. That is IF the tax cuts are targeted properly.

 

[RileyG]

Oh, I think we can expect the deficit to rise very sharply. Let's just wait and see.

No.

 

[chevyontheriver]

No.

Wait and see. What if Biden starts WWIII? What if Wuhan releases another virus worse than Covid? There are scenarios where spending can’t go down.

 

[RileyG]

Wait and see. What if Biden starts WWIII? What if Wuhan releases another virus worse than Covid? There are scenarios where spending can’t go down.

I hope that doesn’t happen! I wonder if Biden can be found incompetent to be president until Trump takes over. I really don’t know.

 

[chevyontheriver]

I hope that doesn’t happen! I wonder if Biden can be found incompetent to be president until Trump takes over. I really don’t know.

Of course he is incompetent. But if you boot him out you get Kamala. Most Democrats don’t even want that. She is no less a Warhawk and no more in control than Biden is.

Pray hard for peace.

 

[RileyG]

Of course he is incompetent. But if you boot him out you get Kamala. Most Democrats don’t even want that. She is no less a Warhawk and no more in control than Biden is.

Pray hard for peace.

Amen. Pray like we never prayed before.

 

[durangodawood]

Targeted tax cuts increase productivity and increase tax revenue, thus decreasing deficits. That is IF the tax cuts are targeted properly.

Thats been the promise over and over again. Its like Lucy holding the football for Charlie Brown.

 

[Arcangl86]

So over half of the promised savings are a program that is currently not being implemented and thus actually costing the government nothing. That seems a questionable form of accounting.

 

[Fantine]

What are the orders?
Lowering the cost of certain drugs--ten to start off with--helps people and also saves Medicare a ton of money.
Clean energy projects, approved, passed, and ongoing.
Pretty much all the Biden orders advanced the common good, and most saved money long-term.
My suggestion would be to severely limit the expense accounts of the oligarch cabinet.
His wealthy businessmen last time thought they could bring their girlfriends on government jets to watch the eclipse and things like
that. Government doesn't work that way.

 

[Laodicean60]

Maybe Trump woke up about the debt, and he was all for the money printer in his first term.

 

[KCfromNC]

I would be shocked if Trump doesnt use deficit funded tax cuts and spending like a line of coke to pump up the party vibes.

How about sending out government checks to most Americans with his name on it, if we're looking at historical precedent for his proclivity towards deficit spending.

 

[KCfromNC]

Maybe Trump woke up about the debt, and he was all for the money printer in his first term.

Yeah, if there's something Donald is known for, it is a humbleness that allows him to change his wrong opinions in the face of data.

 

[Laodicean60]

Yeah, if there's something Donald is known for, it is a humbleness that allows him to change his wrong opinions in the face of data.

I think all Politicians should humble themselves. I think if Biden had humbled himself earlier we might not be talking about Trump. I worry about what Trump will do with the data Tariffs; hopefully, his BLS data will be more accurate than past two years.

 

[Fantine]

I think all Politicians should humble themselves. I think if Biden had humbled himself earlier we might not be talking about Trump. I worry about what Trump will do with the data Tariffs; hopefully, his BLS data will be more accurate than past two years.

Until 2020, we were blessed to have leaders humble enough to pass the torch to their successor, and President Biden, who believes in democracy, will do.the same. Hopefully the Trumps (or perhaps without Melania, who says she will live in NY) will be more gracious than they were to the Obamas, as Michelle related their bad manners in her book.

 

[essentialsaltes]

"over the next decade"

DOGE ludicrously plans for $2 trillion in cuts to the budget -- that is, what we spend every year. Currently the budget deficit is about $1.8 trillion, so that amount is roughly what it would take to balance the budget.

This proposal gets less than a tenth of the way there. Hey a journey of a thousand miles and all that, but the American people are going to have to suffer a lot more "hardship" (In Musk's term) to achieve that worthy goal. As others have noted, the American people have no stomach for that sort of hardship, so this is going nowhere.

 

[eleos1954]

WASHINGTON — President-elect Donald Trump can cut the federal deficit by $1.4 trillion over the next decade by rescinding President Biden’s executive actions, according to a report.


The potential cost-cutting was identified by the Committee for a Responsible Federal Budget, a nonprofit that advocates for fiscal restraint, as Trump’s informal Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, looks for areas to slash spending.

Trump could slash deficit $1.4T by reversing these Biden executive actions on day one: report

Trump’s informal Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, is looking to slash “at least $2 trillion” in spending, according to the Tesla billionaire.

nypost.com

It must be done .... what is going on with our debt is unsustainable. This has been going on for years (both parties-congress) and they have done nothing ... so getting people involved outside of of congress is necessary ... congress has shown they don't have the will to do it.

They have kicked the can down the road and we are at the end of the road.