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Thread: Trickle down voodoo-economics at work....

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    Default Trickle down voodoo-economics at work....

    Budget deficit to balloon to $1 trillion by 2020, CBO says

    The U.S. budget deficit will surpass $1 trillion by 2020, two years sooner than previously estimated, as tax cuts and spending increases signed by President Donald Trump do little to boost long-term economic growth, according to the Congressional Budget Office.
    https://www.msn.com/en-us/money/mark...cid=spartandhp

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    Smoke & mirrors measure - seems to have been geared almost exclusively to try to limit damage in the '18 midterms.

    This isn't sound fiscal policy. There is no long-term vision here. And it's the only thing that Trump supporters really point to as an "accomplishment."

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    The money trickled down ... and went right out the door to China.
    "I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy. I mean, that's a storybook, man."
    — Joe Biden on Obama.

    Socialism is just the modern word for monarchy.

    D.C. has become a Guild System with an hierarchy and line of accession much like the Royal Court or priestly classes.

    Private citizens are perfectly able of doing a better job without "apprenticing".

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    Quote Originally Posted by Thing1 View Post
    Smoke & mirrors measure - seems to have been geared almost exclusively to try to limit damage in the '18 midterms.

    This isn't sound fiscal policy. There is no long-term vision here. And it's the only thing that Trump supporters really point to as an "accomplishment."
    I mean, I think every one but unrepentant Trump fan boys knew this tax cuts for the rich scheme was a disaster before the ink even dried on Dump's signature.

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    CBO does not do dynamic scoring

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    Quote Originally Posted by noise View Post
    CBO does not do dynamic scoring
    Your opinion seems to be wrong quite often.

    What I am looking at are observable, empirical facts that are apparent to anyone with two eyeballs.

    CBO accurately predicted George Dumbya Bush's tax cuts for the rich would not pay for themselves, and would lead to increased deficits.

    Ronnie Raygun's voodoo economics trickle down tax cuts in 1981 caused massive, systematic, sustained deficits.

    Sam Brownbacks much-heralded Kansas trickle down tax cuts bankrupted the state, caused massive deficits, and ultimately required raising taxes again.


    When it comes to Trumpian voodoo economics trickledown tax cuts for the rich, there is no way you can put a lipstick on that pig.

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    Quote Originally Posted by Cypress View Post
    Your opinion seems to be wrong quite often.

    What I am looking at are observable, empirical facts that are apparent to anyone with two eyeballs.

    CBO accurately predicted George Dumbya Bush's tax cuts for the rich would not pay for themselves, and would lead to increased deficits.

    Ronnie Raygun's voodoo economics trickle down tax cuts in 1981 caused massive, systematic, sustained deficits.

    Sam Brownbacks much-heralded Kansas trickle down tax cuts bankrupted the state, caused massive deficits, and ultimately required raising taxes again.


    When it comes to Trumpian voodoo economics trickledown tax cuts for the rich, there is no way you can put a lipstick on that pig.
    What you are leaving out of these equations is spending. Contrary to popular belief that Regan slashed spending it grew at a large pace. Just as spending has pretty much since. Reagan's tax cuts ushered in an economic boom in the '80's that went for over a couple of decades.

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    Here is CBO analysis of Trumps economy. It is disastrous to both debt and deficits. https://www.politico.com/story/2018/...deficit-471311 The deficits will quickly hit almost 2 trillion while the debt will skyrocket.

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    "What you are leaving out of these equations is spending." c #7
    "When your outgo exceeds your income,
    the upshot will be your downfall." Paul Harvey
    "Contrary to popular belief that Regan slashed spending it grew at a large pace." c #7

    Governor Reagan campaigned against President Carter criticizing Carter for deficit spending.
    Reagan campaigned on balanced budgets and paying down the U.S. federal debt.

    BUT !!

    Once in office, not only did Republican demigod Reagan out-spend President Carter.
    Once in office, President Reagan ran up more U.S. federal debt than all the U.S. presidents before him, COMBINED !!

    Wadya no ! The Republican demigod, a hypocrite!
    "It should be obvious to anyone why conservatives and libertarians should be against Trump. He has no grounding in belief. No core philosophy. No morals. No loyalty. No curiosity. No empathy and no understanding. He demands personal loyalty and not loyalty to the nation. His only core belief is in his own superiority to everyone else. His only want is exercise more and more personal power." smb / purveyor of fact 18/03/18

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    Quote Originally Posted by sear View Post
    "What you are leaving out of these equations is spending." c #7

    "Contrary to popular belief that Regan slashed spending it grew at a large pace." c #7

    Governor Reagan campaigned against President Carter criticizing Carter for deficit spending.
    Reagan campaigned on balanced budgets and paying down the U.S. federal debt.

    BUT !!

    Once in office, not only did Republican demigod Reagan out-spend President Carter.
    Once in office, President Reagan ran up more U.S. federal debt than all the U.S. presidents before him, COMBINED !!

    Wadya no ! The Republican demigod, a hypocrite!
    Did the democrat party which controlled Congress and the purse strings have any role? Or do you subscribe to the singular branch theory of American politics?

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    Quote Originally Posted by sear View Post
    "What you are leaving out of these equations is spending." c #7

    "Contrary to popular belief that Regan slashed spending it grew at a large pace." c #7

    Governor Reagan campaigned against President Carter criticizing Carter for deficit spending.
    Reagan campaigned on balanced budgets and paying down the U.S. federal debt.

    BUT !!

    Once in office, not only did Republican demigod Reagan out-spend President Carter.
    Once in office, President Reagan ran up more U.S. federal debt than all the U.S. presidents before him, COMBINED !!

    Wadya no ! The Republican demigod, a hypocrite!
    Go look at the his proposed budget when he first took office. He tried to cut spending but the U.S. isn't a monarchy where the president can do what he wants and the democratic controlled said essentially told him to F off. But yeah, he's a hypocrite because he's not king. Makes sense

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    Quote Originally Posted by I Love America View Post
    Did the democrat party which controlled Congress and the purse strings have any role? Or do you subscribe to the singular branch theory of American politics?
    If you are suggesting that the Democratic Party had control...

    ...perhaps you ought to do a bit of Googling.

    For 6 of Reagan's 8 years...THE REPUBLICANS controlled the Senate...and in all 8 years of Reagan's terms...he had more than enugh Senate votes to sustain a veto.

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    Quote Originally Posted by Frank Apisa View Post
    If you are suggesting that the Democratic Party had control...

    ...perhaps you ought to do a bit of Googling.

    For 6 of Reagan's 8 years...THE REPUBLICANS controlled the Senate...and in all 8 years of Reagan's terms...he had more than enugh Senate votes to sustain a veto.
    Budgets start in the House and Tip O'Neil was Speaker all eight years.

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    Quote Originally Posted by Cypress View Post
    Your opinion seems to be wrong quite often.

    What I am looking at are observable, empirical facts that are apparent to anyone with two eyeballs.

    CBO accurately predicted George Dumbya Bush's tax cuts for the rich would not pay for themselves, and would lead to increased deficits.

    Ronnie Raygun's voodoo economics trickle down tax cuts in 1981 caused massive, systematic, sustained deficits.

    Sam Brownbacks much-heralded Kansas trickle down tax cuts bankrupted the state, caused massive deficits, and ultimately required raising taxes again.


    When it comes to Trumpian voodoo economics trickledown tax cuts for the rich, there is no way you can put a lipstick on that pig.
    Lol, you idiots just plow ahead as if you knew what you were talking about. Tax cuts have ALWAYS resulted in increased revenue. That is irrefutable. If spending is not curbed, OF COURSE deficits will increase. When have leftist loons EVER promoted spending cuts?

    Tax cuts don't have to "pay for themselves" dipshit. Not taking someone's money doesn't "cost" anything.

    Once libs are married to a narrative, it cannot be pried from your cold, dead hands.
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    Quote Originally Posted by cawacko View Post
    What you are leaving out of these equations is spending. Contrary to popular belief that Regan slashed spending it grew at a large pace. Just as spending has pretty much since. Reagan's tax cuts ushered in an economic boom in the '80's that went for over a couple of decades.
    I don't know if he is correct about the CBO "accurately predicting" GWB deficits, but he's also "overlooking" the MULTITUDE of times the CBO has been dead wrong on predictions.
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