Trump's MASSIVE budget deficits

originally posted by: Fallingdown
The only reason I pointed out the first three years because they weren’t using them as a comparison .

It's an invalid comparison to do so, so no one should be.

The relevant measure of any President is 'year 2' through '1 year after they leave office'.

Trump submitted his first budget in May of 2017 for fiscal year 2018. Like I said, they stagger the federal fiscal year to allow a new President time to put together their own economic agenda. No President is accountable for the budget in their first year in office, so "first 3 years" is not an accurate/relevant measurement since one third of that time was running on the previous President's budget plan.

a reply to: kasalt

I actually agree with you. Lets see if we can get Trump to Promise to lower the Deficit in his next four years. He does keep a lot of his campaign promises.

ETA to comment on another portion of your OP.

Clinton did nothing to lower the Deficit. That my friend was Reagans trickle down economics coming to fruition.

a reply to: ScepticScot

OK so the $700 billion TARP funds helped keep the Obamas debt down .,


I’ve been trying to put together a thread on the tarp program for a couple months. Most of the loans were paid back using government incentives/loans which left the next program holding the bag .

Money laundering inside trading buyouts .

But that was cool as long as it didn’t refly on TARP

The true cost of the bail out over ten years has been put at somewhere between 4 and 17 trillion .( with a T )

If I can show the Obama administration was blowing money like a drunk sailor at a whorehouse .

That’s gonna put a whole new spin on things. Don’t you think .

Here’s one link on it .

The Special Inspector General for TARP summary of the bailout says that the total commitment of government is $16.8 trillion dollars with the $4.6 trillion already paid out

Forbes

If I was a Obama supporter I would ignore TARP and hope it goes away.

originally posted by: highvein
I actually agree with you. Lets see if we can get Trump to Promise to lower the Deficit in his next four years. He does keep a lot of his campaign promises.

In his 2016 campaign he went waaaaaaaaaay passed promising to eliminate the deficit.

He actually promised to eliminate the national debt itself.... yeah, that one's up there with Mexico paying for the wall.

I'm pretty sure that the budget originates in the House, and then it is passed by Congress. And we just witnessed during the whole "withholding money from Ukraine thing", the President cannot withhold legislatively appropriated funds. The only thing the President can do is to constantly veto the budget bill, whereby the media, and the other political party will blame Trump for obstructing the government.

a reply to: timequake

Are you arguing that Trump should get no credit for the recent tax cuts, increased military spending, etc. that he loves to brag about, and that the House should be the ones getting all the credit instead?

Trump submitted his first budget in May of 2017 for fiscal year 2018.

originally posted by: redmage

originally posted by: highvein
I actually agree with you. Lets see if we can get Trump to Promise to lower the Deficit in his next four years. He does keep a lot of his campaign promises.

In his 2016 campaign he went waaaaaaaaaay passed promising to eliminate the deficit.

He actually promised to eliminate the national debt itself.... yeah, that one's up there with Mexico paying for the wall.

You are misrepresenting it. He said he could eliminate it in 8 years.

originally posted by: highvein
You are misrepresenting it. He said he could eliminate it in 8 years.

We're almost 4 years in... how's that progress looking?

Even a little dent?

Starting today, he would have to take us from a 1 trillion annual deficit to a 4.5 trillion surplus. That's a 5.5 trillion swing to even get close.... yeah, that one's up there with Mexico paying for the wall.

These arguments make me laugh...

The budget, the deficit, and the national debt have been growing for decades. We got Democrats complaining about the debt growing a few trillion in 4 years. While in the same breath promoting 15+ trillion dollar programs. All the while ignoring the debt and deficit grew under Obama faster than under Trump.

Me thinks most of these Democrats and leftists have no real idea how the economy and trade works. After all they said the trade war would ruin us and cutting government funding would cause the sky to fall. Yet here we are...

originally posted by: redmage
a reply to: timequake

Are you arguing that Trump should get no credit for the recent tax cuts, increased military spending, etc. that he loves to brag about, and that the House should be the ones getting all the credit instead?

Trump submitted his first budget in May of 2017 for fiscal year 2018.

Arguably tax cuts will ultimately result in higher revenue, seeing as how people making more money means more in taxes being spent.

In any event, I was just trying to remind you of the basics--see 3rd grade level--of how the government actually works. You seem to blame Trump for everything, as is the M.O. of certain people these days without taking into account of what actually happens. Pretty sure Trump the budget consists of much more than "Trump".

a reply to: timequake

I'm simply highlighting the facts of how it works. The basics--see 4th grade level-- of how Presidents have power and influence when setting their own economic agendas.

Trump submitted his first budget in May of 2017 for fiscal year 2018.

originally posted by: redmage

originally posted by: highvein
You are misrepresenting it. He said he could eliminate it in 8 years.

We're almost 4 years in... how's that progress looking?

Even a little dent?

Starting today, he would have to take us from a 1 trillion annual deficit to a 4.5 trillion surplus. That's a 5.5 trillion swing to even get close.... yeah, that one's up there with Mexico paying for the wall.

Given all the resistance I am going to grant him some clemency on the matter. He will have the next 4 years to work on it though, so don't count your chickens and all that.

a reply to: kasalt

Instead of telling me how the deficit is so bad, why don't you tell me how you are going to fix it. Here's a hint - it's not an easy thing to do.

Obama ran a trillion dollar deficit every year of his presidency too.

I know you will probably just tell me that taxes need to be raised, but doing so drops the amount that is taxable, because wealth flees high taxes.

a reply to: JAY1980

You ust humbled me .

You sir are completely right .

originally posted by: JAY1980
These arguments make me laugh...

The budget, the deficit, and the national debt have been growing for decades. We got Democrats complaining about the debt growing a few trillion in 4 years. While in the same breath promoting 15+ trillion dollar programs. All the while ignoring the debt and deficit grew under Obama faster than under Trump.

Me thinks most of these Democrats and leftists have no real idea how the economy and trade works. After all they said the trade war would ruin us and cutting government funding would cause the sky to fall. Yet here we are...

Of course they don't understand economics or our budget. If they did, they would know better than thinking Medicare for all is a good idea.

a reply to: kasalt


Obama Never was Concerned about the National Debt even when he Added 2 Trillion to it .................Go Tell it to the Liberal Mountain ............

originally posted by: highvein
He will have the next 4 years to work on it though, so don't count your chickens and all that.

Clearly a 5.5 trillion swing to get us back into a 'viable' surplus is far too many chickens for you to comprehend.

Ya don't have to be Nostradamus to know that it ain't happening... not even close.

originally posted by: redmage

originally posted by: highvein
He will have the next 4 years to work on it though, so don't count your chickens and all that.

Clearly a 5.5 trillion swing to get us back into a 'viable' surplus is far too many chickens for you to comprehend.

Ya don't have to be Nostradamus to know that it ain't happening... not even close.

De Ja Vu. That is what everyone said about Trump being elected President. Like I said, chickens and all.

originally posted by: redmage
a reply to: timequake

I'm simply highlighting the facts of how it works. The basics--see 4th grade level-- of how Presidents have power and influence when setting their own economic agendas.

Trump submitted his first budget in May of 2017 for fiscal year 2018.

Cute. We'll just have to pretend that Trump is all-powerful and ignore the fact the House utterly hates the man to the point of obsession. And the fact that Power and Influence somehow "Trump" the fact that it was passed by the same House that tried to get him removed on frivolous grounds.

Nevermind.