US government is running out of money faster than expected, Mnuchin warns

[Truth Detector]

"The U.S. national debt has reached a new milestone, topping $22 trillion for the first time.

"On Tuesday, the Treasury Department's daily statement reported the total outstanding public debt stands at $22.012 trillion. That number is more than $2 trillion higher than when President Donald Trump took office on Jan. 20, 2017. The debt stood at $19.95 trillion at that time.

"The national debt is the total of the annual budget deficits, and it has grown at an accelerated pace since Trump signed a $1.5 trillion tax overhaul into law in December 2017 and Congress increased domestic and military spending last year."

(January 2019 article: https://www.usnews.com/news/national...ime-in-history )

Debt clock:

https://www.usdebtclock.org/

That article is full of bullshit; the tax cuts did not decrease revenue.

[Into the Night]

Refresh our memories. Which recession (years) did you dispute?

1785. 1812. 1819. 1825. 1834. 1837. 1857. 1873. 1896. 1907. 1910. 1920. 1961. 1969. 1973. 1981. 1992. to name a few.

What was the error in the list you claim was not a recession or a recession that was not listed?

None.

I bet you will not give us an answer.

I just did.

[countryboy]

I've notice that. They don't consider the spending increases.

Not only that, but they are now blaming President Trump for spending liabilities created under Obama, and never utter a single word about reining in those liabilities. Somehow, Obama's spending is Trump's fault. Furthermore, Trump's economic policies, which have the economy humming along nicely, are somehow credited to Obama as well. When I say liberalism is a mental disorder, I am dead serious. There really is no other explanation.

[countryboy]

"The U.S. national debt has reached a new milestone, topping $22 trillion for the first time.

"On Tuesday, the Treasury Department's daily statement reported the total outstanding public debt stands at $22.012 trillion. That number is more than $2 trillion higher than when President Donald Trump took office on Jan. 20, 2017. The debt stood at $19.95 trillion at that time.

"The national debt is the total of the annual budget deficits, and it has grown at an accelerated pace since Trump signed a $1.5 trillion tax overhaul into law in December 2017 and Congress increased domestic and military spending last year."

(January 2019 article: https://www.usnews.com/news/national...ime-in-history )

Debt clock:

https://www.usdebtclock.org/

Yes, and? What does that have to do with the Trump tax cuts? Revenue is up. How much spending today can be attributed to liabilities created under the Obama administration? Why is Trump to blame for that? And what is the Democrat controlled house doing to rollback ANY of those liabilities? Gimme a break Owl.

[Jack]

Seems to be YOUR answer. You seem to prefer a debt crash to a cash crash, yes?

I support paying off the Debt. Like most Households, paying off the Debt is a Smart Move.

[Flash]

Lie.

Nah. Anyone that wants to can go hunt it down for themselves.

You rescinded your earlier argument. Now you are trying to defend it??? It's rescinded! ...or is it?

Your imagination is distorting your vision. I never put forth a theory of recessions. Anyone who wants it can never find it and neither can you. This is always your argument--suggesting something exists but unwilling to support your claims.

I can predict you 100%.

[Into the Night]

Not only that, but they are now blaming President Trump for spending liabilities created under Obama, and never utter a single word about reining in those liabilities. Somehow, Obama's spending is Trump's fault. Furthermore, Trump's economic policies, which have the economy humming along nicely, are somehow credited to Obama as well. When I say liberalism is a mental disorder, I am dead serious. There really is no other explanation.

They did the same thing to Reagan. That's certainly not a new tactic.

[Into the Night]

I support paying off the Debt. Like most Households, paying off the Debt is a Smart Move.

Then why are you so concerned with the so-called 'debt ceiling'?

So...you support a cash crash or tax crash instead of a debt crash, yes?

[Into the Night]

Your imagination is distorting your vision. I never put forth a theory of recessions. Anyone who wants it can never find it and neither can you. This is always your argument--suggesting something exists but unwilling to support your claims.

I can predict you 100%.

Lie. You have already rescinded your earlier argument. Why are you still trying to deny it again?

[Jack]

Then why are you so concerned with the so-called 'debt ceiling'?

So...you support a cash crash or tax crash instead of a debt crash, yes?

You sound like this guy Legina. Talking in circles.

I support paying off the Debt.
You, on the other hand, have no position. You simply parrot whatever Red Team dictates.

[Flash]

1785. 1812. 1819. 1825. 1834. 1837. 1857. 1873. 1896. 1907. 1910. 1920. 1961. 1969. 1973. 1981. 1992. to name a few.

None.

I just did.

Since the discussion was about the effects of high federal income tax on the economy I did not list any recessions before the income tax. For evidence of recessions:

https://www.nber.org/cycles.html

[PoliTalker]

All of the Republican deficit hawks seem to have become migratory birds and flown elsewhere until who knows when they will return.

I presume they won't be back until a Democrat is back in power.

[Flash]

Lie. You have already rescinded your earlier argument. Why are you still trying to deny it again?

I'm not trying to deny anything. I am just stating a fact you can't disprove--I never offered a theory of recessions; therefore, I can't rescind something I never said.

[countryboy]

They did the same thing to Reagan. That's certainly not a new tactic.

Not to the degree we are seeing today I don't believe.

[cawacko]

Yes, and? What does that have to do with the Trump tax cuts? Revenue is up. How much spending today can be attributed to liabilities created under the Obama administration? Why is Trump to blame for that? And what is the Democrat controlled house doing to rollback ANY of those liabilities? Gimme a break Owl.

You are not wrong in any way about the excess spending of the Obama administration. But what has Trump or the (previous) Republican Congress done about it? Nothing. The biggest spending items on the federal ledgar are entitlements (S.S., Medicare etc) and the military. Trump ran on not touching entitlements and increasing military spending. We have a booming economy yet still have massive deficits that are only increasing.

It takes two to tango and there's a reason we have a $22 trillion national debt. We as voters may complain about it but we rarely punish those in office for it because we ultimately like it.

I've been a Republican my entire life. One of the reason's when I was young is that they stood for fiscal responsibility. As I've gotten older and seen multiple Republican administrations and Congresses I realize that's not generally the case. What I realize now is they're going to spend a lot, they just happen to spend on issues more important to me than the ones democrats spend on.

If controlling spending was truly an issue I'd argue we'd elect more Libertarians. But most of us give lip service to fiscal discipline but like the (big) government programs we use imo (unfortunately).