The Budget Deficit soared under Trump

[FreeinChrist]

America's budget deficit jumps by 17% as spending surges

The U.S. federal budget deficit rose in fiscal 2018 to the highest level in six years as spending climbed, the Trump administration said Monday.

The deficit jumped to $779 billion, $113 billion or 17 percent higher than the previous fiscal period, according to a statement from Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney. It was larger than any year since 2012, when it topped $1 trillion. The budget shortfall rose to 3.9 percent of U.S. gross domestic product.

Federal revenue rose only slightly, by $14 billion after Republicans chopped tax rates for corporations and most individuals. Outlays climbed by $127 billion, or 3.2 percent. A spike in defense spending, as well as increases for Medicaid, Social Security and disaster relief, contributed to the increase.
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Less income, more output - Republicans know that the bill comes due at some point, right?

 

[Basil the Great]

Yes... and it soared under Obama and it soared under Bush. Both parties could care less about a balanced budget. Vote Libertarian or Green Party and teach these clowns a much needed lesson!

 

[FreeinChrist]

Yes... and it soared under Obama and it soared under Bush. Both parties could care less about a balanced budget. Vote Libertarian or Green Party and teach these clowns a much needed lesson!

It soared under Obama because of the 2 wars Bush started and the tax cuts under Bush. After 2 years, Republicans took the house and the taxes could not go up.
Bush cut taxes and then there were 2 wars....and he started with what deficit?
How did Clinton leave it?

After all the screaming about Obama and the deficit, we have a Republican president and congress who lowered taxes (income) and raised spending......and the deficit soars.

 

[LoAmmi]

Yes... and it soared under Obama and it soared under Bush. Both parties could care less about a balanced budget. Vote Libertarian or Green Party and teach these clowns a much needed lesson!

Unfortunately voting for libertarian or green is like flipping a coin and hoping it will land on its edge.

I'm not opposed to it and have voted third party in the past, but in a national election, there's no chance to win.

 

[Unofficial Reverand Alex]

Unfortunately voting for libertarian or green is like flipping a coin and hoping it will land on its edge.

I'm not opposed to it and have voted third party in the past, but in a national election, there's no chance to win.

Ah, the constant debate of third party voting; is it a wasted vote when you vote for someone you don't like? Or wasted when you vote for someone you do like, who won't win as long as people think it's a wasted vote?

I voted across 4 different parties in 2016. One thing to remember is that, even if the third party candidate doesn't win, the more votes they get, the more the Dems. and Reps. have to adjust their policies to win the favor of the third parties. As the Libertarian party gains strength, we're seeing more libertarian policies be adopted by Democrats and Republicans. The Republicans famously had Ron and Rand Paul as self-declared libertarians, and democrats have been focusing a lot of energy on their libertarian social policies. I wouldn't be surprised to see a democrat or two in 2020 declare themselves libertarian, although the Clinton machine may have some serious pull against it.

And, as always, pray.

 

[Basil the Great]

Unfortunately voting for libertarian or green is like flipping a coin and hoping it will land on its edge.

I'm not opposed to it and have voted third party in the past, but in a national election, there's no chance to win.

Yes, I know there is no chance of a win, but it is a protest vote against the two wasted major parties.

 

[iluvatar5150]

It soared under Obama because of the 2 wars Bush started and the tax cuts under Bush.

And the recession.

After all the screaming about Obama and the deficit, we have a Republican president and congress who lowered taxes (income) and raised spending......and the deficit soars.

It's almost like it wasn't about the deficit...

 

[Desk trauma]

Less income, more output - Republicans know that the bill comes due at some point, right?

Sure they do and when it does it will somehow be the big spending democrats fault.

 

[Desk trauma]

Yes... and it soared under Obama and it soared under Bush.

Both parties care very much about it, when they are in the minority.

 

[Albion]

It soared under Obama because of the 2 wars Bush started and the tax cuts under Bush.

And here I thought from the OP that we were talking about the deficits increasing and by how much.

 

[FreeinChrist]

We are. I responded to a post.

 

[Ringo84]

What a coincidence! Now McConnell can talk about cutting """entitlements""" like Social Security and Medicaid to pay for billionaire tax cuts!
Ringo

 

[ThatRobGuy]

Yes... and it soared under Obama and it soared under Bush. Both parties could care less about a balanced budget. Vote Libertarian or Green Party and teach these clowns a much needed lesson!

I would agree with the "Vote Libertarian or Green" sentiment...I've voted libertarian the last two elections...

...but let's be intellectually honest about some things here.

Obama was handed a bad situation. Bush started some military conflicts that couldn't just be stopped on a dime.

It's almost like if I were to max out a credit card, and then transfer the account to someone else 2 days before the interest was applied.

That's not to say that democrats don't have a spending problem, they do...but given the situation Obama was handed upon entering office, he didn't do that bad of a job managing it.

 

[FreeinChrist]

What a coincidence! Now McConnell can talk about cutting """entitlements""" like Social Security and Medicaid to pay for billionaire tax cuts!
Ringo

He did that today.

As if we didn't put into SS through our work lives.

 

[LivingWordUnity]

Pot calling the kettle black.

 

[variant]

Yes... and it soared under Obama and it soared under Bush. Both parties could care less about a balanced budget. Vote Libertarian or Green Party and teach these clowns a much needed lesson!

Running budget deficits when the economy is bad is expected. Trump is borrowing money to run up the score in a stable economy to make himself look good.

 

[Willie T]

Unless you are living off your mother and father (or are on Welfare), you know it costs you more to live each successive year. And if you have let your house run down, it costs extra to get it back in shape. (Infrastructure and military, etc.)

What I would like to see is what our money was spent on under Obama, compared to what it is being spent on under Trump.

 

[Albion]

Running budget deficits when the economy is bad is expected. Trump is borrowing money to run up the score in a stable economy to make himself look good.

The budget is set by Congress, isn't it?

 

[variant]

The budget is set by Congress, isn't it?

Congress and sighed off by the president.

That's who increased military spending and passed tax cuts. Same as when Bush lowered taxes and kept on spending. They were in full control of congress and the presidency both times.

We do better when it's split, if that is your point.

 

[variant]

Unless you are living off your mother and father (or are on Welfare), you know it costs you more to live each successive year. And if you have let your house run down, it costs extra to get it back in shape. (Infrastructure and military, etc.)

What I would like to see is what our money was spent on under Obama, compared to what it is being spent on under Trump.

Trump ended the sequester for military programs and cut taxes on corporations.

He was also handed a stable economy instead of one that was crashing.