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Thread: How the hell are we going to pay back 20 trillion?

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    Quote Originally Posted by LV426 View Post
    Hold on a second...we had a surplus that you all replaced with record deficits thanks to your tax cut. That surplus could have paid the debt off by 2010 had you not changed the tax code in 2001.

    The same tax cut responsible for the housing market, as Bush campaigned in 2004.
    surplus?
    and you'll explain how we had a surplus but yet ended up another 11 trillion in debt, right?

    and the housing bubble near disaster is another democrat blunderfu@k that nearly turned us over for dead

    Democrats have no idea how dangerous they are, which is the worse part
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    Quote Originally Posted by LV426 View Post
    You cut taxes in 2018, and as a result, less revenue was collected in 2018 than 2017.

    Tax cuts cause deficits. Deficits add to the debt. If you want to stop deficits, stop cutting taxes.
    Damn......tax collection went down by a few million and it appears BIG BROTHER simply cant make it on the 6.54 trillion projected to be collected this year from government at all levels....

    Truth: The taxes collected at the federal level in 2017 (Trumps first year) was 3.32 Trillion. The taxes collected in 2018 3.33 Trillion. Projected 2019 3.42 trillion 2020 3.61 trillion.

    Not my calculations but Big Brothers own accounting numbers. There is PROPAGANDA BULLSHIT and then there is the truth. Figures don't lie, but LIARS SURE AS HELL FIGURE. There's something wrong with those who manage THE PEOPLE'S money if they are incapable of providing a working government at all levels on 6.5 Trillion a year.

    https://www.usgovernmentrevenue.com/total_revenue

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    Quote Originally Posted by Getin the ring View Post
    surplus? and you'll explain how we had a surplus but yet ended up another 11 trillion in debt, right?
    Because you erased that surplus.

    We had a record $236B surplus in 2000 that you turned into a record $1.4T deficit by 2009 (while also setting three record deficits between 2001 and 2009).

    Why did you erase the surplus? Two reasons; 1) According to Bush, "surpluses mean we're overtaxed and 2) According to Greenspan, "paying off debt too soon wouldn't be fair to the bondholders".
    Quote Originally Posted by cawacko View Post
    I'm no economics expert. In fact I'm pretty dumb on the topic.

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    Quote Originally Posted by LV426 View Post
    Because you erased that surplus.

    We had a record $236B surplus in 2000 that you turned into a record $1.4T deficit by 2009 (while also setting three record deficits between 2001 and 2009).

    Why did you erase the surplus? Two reasons; 1) According to Bush, "surpluses mean we're overtaxed and 2) According to Greenspan, "paying off debt too soon wouldn't be fair to the bondholders".
    avoid the question, fine with me can't say as I blame you, nut-bag say WHAAAAT
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    Quote Originally Posted by Getin the ring View Post
    and the housing bubble near disaster is another democrat blunderfu@k that nearly turned us over for dead
    Nope.

    The crash of the market was caused by the lowering of lending standards for subprime loans beginning in 2004 and extending through 2007, according to the Bush Working Group on Financial Markets in 2008.

    You deliberately inflated a housing bubble to give the impression the economy was growing as a result of tax cuts, when it was really growing as a result of debt.

    Conservative economics never work. Never. Not once. Not ever.
    Quote Originally Posted by cawacko View Post
    I'm no economics expert. In fact I'm pretty dumb on the topic.

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    Quote Originally Posted by Getin the ring View Post
    Democrats have no idea how dangerous they are, which is the worse part
    You ruined our economy last decade, and now you're ruining it again.

    All because you are married to tax cut dogma, and not facts.
    Quote Originally Posted by cawacko View Post
    I'm no economics expert. In fact I'm pretty dumb on the topic.

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    Remember when Obama too the national debt to zero?

    Good times

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    Quote Originally Posted by Ralph View Post
    Damn......tax collection went down by a few million and it appears BIG BROTHER simply cant make it on the 6.54 trillion projected to be collected this year from government at all levels
    You're the ones who said the tax cut would pay for itself.


    Truth: The taxes collected at the federal level in 2017 (Drumpfs first year) was 3.32 Trillion. The taxes collected in 2018 3.33 Trillion. Projected 2019 3.42 trillion 2020 3.61 trillion.
    Nope. False. Lie.

    Here’s how the two largest categories of tax revenues fared in 2018:

    Individual tax receipts totaled $2.593 trillion in the 2018 calendar year, one percent higher than 2017 in nominal terms but about half a percentage point lower on an inflation-adjusted basis.

    Corporate tax receipts were lower in both nominal and inflation-adjusted terms, coming in at $233 billion in 2018, down from $316 billion in 2017.

    Ouch.
    Quote Originally Posted by cawacko View Post
    I'm no economics expert. In fact I'm pretty dumb on the topic.

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    Quote Originally Posted by LV426 View Post
    Nope.

    The crash of the market was caused by the lowering of lending standards for subprime loans beginning in 2004 and extending through 2007, according to the Bush Working Group on Financial Markets in 2008.

    You deliberately inflated a housing bubble to give the impression the economy was growing as a result of tax cuts, when it was really growing as a result of debt.

    Conservative economics never work. Never. Not once. Not ever.
    are you really this ^^^^ stupid.

    that's not possible actually, no one could be

    Suppose you never heard of Barney Frank?
    google is your friend, go study, put your tail between your legs and come back and say your sorry to the forum
    I VOTED FOR THE WHITE GUY THIS TIME

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    Quote Originally Posted by Micawber View Post
    Trump doesn't seem to be fixing this. He owns the national debt.
    Didn't he say he was going to grow out of it? "Eliminate it" Trump is slated to add 9 trillion to it this term.
    WAIT; so after cheering Obama's massive deficit spending for eight fucking years, you Fascist libTards are suddenly concerned about it????

    Page 173 V I: Ultimately, the investigation did not establish that the Campaign coordinated or conspired with the Russian government in its election-interference activities.


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    Quote Originally Posted by Getin the ring View Post
    avoid the question, fine with me can't say as I blame you, nut-bag say WHAAAAT
    There was a $236B surplus in 2000.

    That was turned into four record deficits that doubled the debt by 2009.

    Here's the data.

    Federal Receipt and Outlay Summary
    Summary of Receipts, Outlays, and Surpluses or Deficits (-)
    In Current Dollars (In Billions)
    2000: $236.2 surplus
    2001: $128.2 surplus
    2002: -$157.8 deficit
    2003: -$377.6 deficit (Record high)
    2004: -$412.7 deficit (Record high)
    2005: -$318.3 deficit
    2006: -$248.2 deficit
    2007: -$160.7 deficit
    2008: -$458.6 deficit (Record high)
    2009: -$1,412.7 deficit (Record high)

    So you set four deficit records thanks to your shitty tax cuts.

    Had you not cut taxes, we could have ran more surpluses and paid off the debt.

    But then you'd lose the one thing to fake concern over!
    Quote Originally Posted by cawacko View Post
    I'm no economics expert. In fact I'm pretty dumb on the topic.

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    Quote Originally Posted by LV426 View Post
    You're the ones who said the tax cut would pay for itself.




    Nope. False. Lie.

    Here’s how the two largest categories of tax revenues fared in 2018:

    Individual tax receipts totaled $2.593 trillion in the 2018 calendar year, one percent higher than 2017 in nominal terms but about half a percentage point lower on an inflation-adjusted basis.

    Corporate tax receipts were lower in both nominal and inflation-adjusted terms, coming in at $233 billion in 2018, down from $316 billion in 2017.

    Ouch.
    Hey genus...….it looks like 6.61 2020 Trillion is greater than 6.33 Trillion 21017. In left wing mathematical exponents and extrapolations that 30 billion gain equals a loss? FOR WHO?

    Corporate taxes were lower? So what? The increased 30 billion garnered in tax came from somewhere......like the NEW JOBS created by the tax cuts. The Government accounting leaves no doubt.....an increase in collected tax revenues over the entire length of this administration simply does not comply with your FAKE FIGURES.

    As I pointed out. Figures don't lie.....BUT LEFT WING LIARS SURE DO FIGURE. Like pointing out that less taxes were collected at the corporate level but never presenting the numbers where those revenues were offset plus billions of dollars in more tax revenues because MORE PEOPLE are now in the work force paying income taxes.

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    Quote Originally Posted by I Love America View Post
    Remember when Obama too the national debt to zero?

    Good times
    I remember when Obama reduced the deficit.

    Obama and Clinton are the only two Presidents over the last 40 years to leave office with a deficit smaller than the one they inherited.
    Quote Originally Posted by cawacko View Post
    I'm no economics expert. In fact I'm pretty dumb on the topic.

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    Quote Originally Posted by Getin the ring View Post
    are you really this ^^^^ stupid.
    that's not possible actually, no one could be
    Suppose you never heard of Barney Frank?
    google is your friend, go study, put your tail between your legs and come back and say your sorry to the forum
    “The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”
    http://www.treasury.gov/resource-cen...s%20update.pdf

    "Since 1995 there has been essentially no change in the basic CRA rules or enforcement process that can be reasonably linked to the subprime lending activity. This fact weakens the link between the CRA and the current crisis since the crisis is rooted in poor performance of mortgage loans made between 2004 and 2007. "
    https://www.federalreserve.gov/image...3_analysis.pdf

    Ouch. How damaging to your shitty argument.
    Quote Originally Posted by cawacko View Post
    I'm no economics expert. In fact I'm pretty dumb on the topic.

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    Quote Originally Posted by Ralph View Post
    Hey genus...….it looks like 6.61 2020 Trillion is greater than 6.33 Trillion 21017. In left wing mathematical exponents and extrapolations that 30 billion gain equals a loss? FOR WHO?
    Not sure from where you're sourcing these numbers, but they're not accurate.
    Quote Originally Posted by cawacko View Post
    I'm no economics expert. In fact I'm pretty dumb on the topic.

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