Results 1 to 3 of 3

Thread: Credit-Card Republicans Dig A $900 Billion Hole

  1. #1 | Top
    Join Date
    Apr 2009
    Posts
    16,138
    Thanks
    10,959
    Thanked 19,493 Times in 9,085 Posts
    Groans
    1,448
    Groaned 1,427 Times in 1,256 Posts

    Default Credit-Card Republicans Dig A $900 Billion Hole

    What happen to the deficit hawks republicans?!!

    Trump’s Deficit Chickens Now Coming Home To Roost

    The first of two official government reports that will be released this month showing that the federal budget deficit is soaring was issued on Monday when the Congressional Budget Office published it’s Monthly Budget Review for August.According to CBO, the deficit through the first 11 months of fiscal 2018 was $895 billion, a $222 billion (32.8%) increase over the same period in 2017.

    https://www.dcreport.org/2018/09/12/...-billion-hole/




  2. The Following User Says Thank You to signalmankenneth For This Post:

    Guno צְבִי (09-16-2018)

  3. #2 | Top
    Join Date
    Aug 2017
    Posts
    8,490
    Thanks
    796
    Thanked 3,180 Times in 2,409 Posts
    Groans
    376
    Groaned 244 Times in 225 Posts

    Default

    It would happen regardless. The only way for it not to happen would be for the government to operate at a surplus. 10 years ago, the government started refinancing existing 30 year bonds with ten year bonds to keep the debt lower. Now that interest rates are back up (no coincidence as to the timing), to switch back to 30 year bonds to refinance the 10 year bonds will require the debt to swell which will require the deficit to swell because we will now be switching back to higher interest rates on about a third of our national debt.

  4. #3 | Top
    Join Date
    Jul 2006
    Posts
    57,783
    Thanks
    35,467
    Thanked 50,284 Times in 27,093 Posts
    Groans
    22
    Groaned 2,975 Times in 2,692 Posts

    Default

    @ post one.

    It is being caused by the Republicans irresponsible tax cuts for the rich scheme, which is going to be a repeat of the disastrous trickle down tax cut scheme in Kansas.

    It boggles the mind that in a good and growing economy, one political party could massively run up the deficit to over a trillion dollars.

    On another tangent - I think we can finally bury the Republican myth (lie?) that tax cuts for the rich pay for themselves.

Similar Threads

  1. 10 states that max out the credit card
    By evince in forum Current Events Forum
    Replies: 27
    Last Post: 07-19-2013, 06:04 PM
  2. New Credit Card
    By Canceled2 in forum Current Events Forum
    Replies: 4
    Last Post: 08-01-2009, 01:22 PM
  3. Replies: 0
    Last Post: 05-18-2009, 10:30 AM
  4. Put it on the Credit Card Says Krugman
    By Timshel in forum Current Events Forum
    Replies: 85
    Last Post: 11-02-2008, 09:32 PM
  5. I may get rid of my credit card
    By evince in forum Current Events Forum
    Replies: 15
    Last Post: 02-14-2008, 01:08 PM

Bookmarks

Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •