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Thread: federal deficit could reach $1 trillion by the 2020 fiscal year.

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    Default federal deficit could reach $1 trillion by the 2020 fiscal year.

    The Congressional Budget Office has predicted the federal deficit could reach $1 trillion by the 2020 fiscal year. Once again, President Trump has exposed a myth in American politics. That myth? That Republicans are the party of fiscal responsibility.



    He is just the latest Republican president to demonstrate this. His drive for corporate tax cuts, which received strong Republican support, has blown a huge hole in the federal ledger.


    Tea Party Republicans once railed against President Barack Obama's spending habits. As the deficit has grown under Trump, however, they've suddenly changed their tune. Acting Chief of Staff and Office of Management and Budget Director Mick Mulvaney, who was once known as a fiscal hawk, has admitted the Trump administration is "spending a bunch of money on stuff we're not supposed to."


    As we approach the 2020 election, we will likely hear the familiar refrain from Republicans claiming their party will keep the government's books balanced while "socialist" Democrats will wreak havoc on the nation's financial stability.
    But President Trump isn't the first Republican to break the mold -- he is just one of a long line of Republican presidents since Ronald Reagan who have pushed for supply side tax policies, touting the idea that lower tax rates will boost economic growth. Throw in high rates of defense spending on top of that, and the delicate balance between taxes and spending is often thrown off kilter.


    https://www.cnn.com/2019/08/24/opini...zer/index.html
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    Which Democrat Party candidate is running on a platform of fiscal responsibility?
    Liberalism always generates the exact opposite of its stated intent

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    As if the Democrats have ever worried about deficits.

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    Quote Originally Posted by Earl View Post
    As if the Democrats have ever worried about deficits.
    To pay for their current platforms, taxes on everyone making $200,000 and above would have to be 100%, and taxes on everyone else would go up 300%-900%. That's right, confiscating every penny of those making $200,000 or more wouldn't pay for it. And this assumes people would keep producing while having 100% of their income confiscated. Teh maths simply doesn't work.
    Liberalism always generates the exact opposite of its stated intent

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    As if the Trumpsters have ever worried about deficits unless there is a Democrat in the Oval Office.
    "Donald Trump is corruption in the flesh," Warren said. "He is sworn to serve the people of the United States, but he serves only himself and his partners in corruption."
    Warren noted, however, that the president is only a symptom of the corruption that has infected the U.S. political and economic systems.

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    Quote Originally Posted by John Barron View Post
    As if the Trumpsters have ever worried about deficits unless there is a Democrat in the Oval Office.
    Quotes not made by the persons shown are violations of the TOS of JPP and are dishonest.
    Last edited by Earl; 08-25-2019 at 09:58 AM.

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    Quote Originally Posted by countryboy View Post
    Which Democrat Party candidate is running on a platform of fiscal responsibility?
    All of them. The Repubs crank up the debt every time. It is their long term plan. the Dems fix Republican financial messes. Just look up debt by presidents and see where the fiscal liars reside. They are Repubs, Trump is just another one.
    For decades the reds have claimed they were the party of fiscal responsibility. That is just a great example of how well propaganda works, They repeat it over and over and Repubs actually believe it. The data is available. They are not.

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    Quote Originally Posted by countryboy View Post
    Which Democrat Party candidate is running on a platform of fiscal responsibility?
    What's the "Democrat Party"? Never heard of it.

    You still drunkn from last night, whore?

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    Quote Originally Posted by Earl View Post
    Quotes not made by the persons shown are violations of the TOS of JPP and are dishonest.
    ^^^ Says the pathologically dishonest clown.

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    Quote Originally Posted by Gonzomin View Post
    All of them. The Repubs crank up the debt every time. It is their long term plan. the Dems fix Republican financial messes. Just look up debt by presidents and see where the fiscal liars reside. They are Repubs, Trump is just another one.
    For decades the reds have claimed they were the party of fiscal responsibility. That is just a great example of how well propaganda works, They repeat it over and over and Repubs actually believe it. The data is available. They are not.
    And what did Nancy Pelosi and the House do the reduce spending in this budget? I'll help you out. Nothing. They care just as little about fiscal responsibility as Republicans do. It takes two to tango.

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    Quote Originally Posted by cawacko View Post
    And what did Nancy Pelosi and the House do the reduce spending in this budget? I'll help you out. Nothing. They care just as little about fiscal responsibility as Republicans do. It takes two to tango.
    The house has no power, The prez is supposed to set the agenda. The Dem house has sent over 100 bills to the senate and the turtle refused to bring any to the floor. The senate is in the business of renaming post offices and schools now.
    Listen to the policies the Dem candidates are professing. You want to decrease the debt, you have to tax the wealthy. Trump gave them tax breaks. This is not hard to figure out , even for a righty. The increased debt is the red plan. that is how they will gut social programs. The Republican plutocracy is coming near.

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    Quote Originally Posted by Gonzomin View Post
    The house has no power, The prez is supposed to set the agenda. The Dem house has sent over 100 bills to the senate and the turtle refused to bring any to the floor. The senate is in the business of renaming post offices and schools now.
    Listen to the policies the Dem candidates are professing. You want to decrease the debt, you have to tax the wealthy. Trump gave them tax breaks. This is not hard to figure out , even for a righty. The increased debt is the red plan. that is how they will gut social programs. The Republican plutocracy is coming near.
    The House of Representatives has no power? The spending bill signed into law wasn't voted on by the House?

    And this is why people come to JPP. To learn here what they won't teach us anywhere else. Thanks for this great insight Gonzomin.

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    Quote Originally Posted by guno View Post
    federal deficit could reach $1 trillion by the 2020 fiscal year.
    let's see......that's about a third less than Obama's average, isn't it?......
    Isaiah 6:5
    “Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”

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    Quote Originally Posted by Gonzomin View Post
    All of them.
    ROFL.....
    Isaiah 6:5
    “Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”

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    Quote Originally Posted by Gonzomin View Post
    Just look up debt by presidents and see where the fiscal liars reside.
    50% of the national debt is Obama's.........
    Isaiah 6:5
    “Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”

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