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Thread: "U.S. government posts $147 billion deficit in May"

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    Default "U.S. government posts $147 billion deficit in May"

    "The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday."

    "Economists caution that the Trump administrationís corporate and individual tax cuts along with an increase in government spending will drive up the countryís deficit despite a robust economy in which the unemployment rate has fallen to an 18-year low."

    https://www.reuters.com/article/us-u...ource=facebook

    And before some predictable conservative can chime in with the usual Obama "whataboutism," Obama had the deficit down to $438 billion in 2015, while Trump's first year it climbed to $665 billion and is expected to grow to $986 billion by 2020. And Obama was left with two unpaid wars, an unaccounted prescription drug plan, and a Recession of historical proportions, Trump, an economy trending upward

    https://www.usgovernmentspending.com...s2li011mcn_G0f

    So now we got Trump running up deficits in an era of economic advancement, spending like a drunken sailor, and conservatives used to tell us they were so concerned about deficits and debt.

    Guess conservative principles depend on who is occupying the White House

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    Quote Originally Posted by archives View Post
    "The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday."

    "Economists caution that the Trump administration’s corporate and individual tax cuts along with an increase in government spending will drive up the country’s deficit despite a robust economy in which the unemployment rate has fallen to an 18-year low."

    https://www.reuters.com/article/us-u...ource=facebook

    And before some predictable conservative can chime in with the usual Obama "whataboutism," Obama had the deficit down to $438 billion in 2015, while Trump's first year it climbed to $665 billion and is expected to grow to $986 billion by 2020. And Obama was left with two unpaid wars, an unaccounted prescription drug plan, and a Recession of historical proportions, Trump, an economy trending upward

    https://www.usgovernmentspending.com...s2li011mcn_G0f

    So now we got Trump running up deficits in an era of economic advancement, spending like a drunken sailor, and conservatives used to tell us they were so concerned about deficits and debt.

    Guess principles depend on who is occupying the White House
    A slight change to your post and I wholeheartedly agree.

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    I blame the GOP spending bill.

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    "The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday."

    How does one preside over an increasing deficit in the middle of a booming economy? That seems to be an accomplishment only Republicans are capable of.
    Achtung! I generally do not read/respond to half-witted racists, socially inept losers engaging in libel or gossip, & dunces who are just too bloody boring to waste time reading.

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    Quote Originally Posted by Cypress View Post
    .... a booming economy...
    You aren't supposed to acknowledge that...

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    Quote Originally Posted by archives View Post
    "The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday."

    "Economists caution that the Trump administrationís corporate and individual tax cuts along with an increase in government spending will drive up the countryís deficit despite a robust economy in which the unemployment rate has fallen to an 18-year low."

    https://www.reuters.com/article/us-u...ource=facebook

    And before some predictable conservative can chime in with the usual Obama "whataboutism," Obama had the deficit down to $438 billion in 2015, while Trump's first year it climbed to $665 billion and is expected to grow to $986 billion by 2020. And Obama was left with two unpaid wars, an unaccounted prescription drug plan, and a Recession of historical proportions, Trump, an economy trending upward

    https://www.usgovernmentspending.com...s2li011mcn_G0f

    So now we got Trump running up deficits in an era of economic advancement, spending like a drunken sailor, and conservatives used to tell us they were so concerned about deficits and debt.

    Guess conservative principles depend on who is occupying the White House
    But, but, but...GDP was almost 4% for Q2!


    Wait until the tariffs kick in.
    Once in a while you can get shown the light, in the strangest of places if you look at it right.

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    Quote Originally Posted by Dark Soul View Post
    I blame the GOP spending bill.
    the one approved by the demmycrats and thirty Republicans?......

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    Quote Originally Posted by archives View Post

    "Economists caution that the Trump administrationís corporate and individual tax cuts along with an increase in government spending will drive up the countryís deficit despite a robust economy in which the unemployment rate has fallen to an 18-year low."
    This is pure, unadulterated, BULLSHIT. Revenues have increased dramatically since the tax cuts. The deficit is purely a spending problem. Why must libs lie to forward their agenda? Does it not walk on it's own four legs?
    Progressivism, ideas so good, they have to be mandatory.

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    Quote Originally Posted by countryboy View Post
    This is pure, unadulterated, BULLSHIT. Revenues have increased dramatically since the tax cuts. The deficit is purely a spending problem. Why must libs lie to forward their agenda? Does it not walk on it's own four legs?
    Show your proof revenues have increased, thanks.
    Insulting family members of other JPP posters is for tiny minds, don't be a tiny mind.

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    Quote Originally Posted by Phantasmal View Post
    Show your proof revenues have increased, thanks.
    Nevermind countryboy, I found it
    https://www.investors.com/politics/e...or-themselves/
    Insulting family members of other JPP posters is for tiny minds, don't be a tiny mind.

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    Quote Originally Posted by countryboy View Post
    This is pure, unadulterated, BULLSHIT. Revenues have increased dramatically since the tax cuts. The deficit is purely a spending problem. Why must libs lie to forward their agenda? Does it not walk on it's own four legs?
    The OP/article states in the first sentence that revenues are down from the same month last year. Here is another source...

    https://www.wsj.com/articles/u-s-fed...018-1528826767

    The deficit, or the difference between the amount of money the federal government spent and what it took in, totaled $532.24 billion in October through May, the Treasury Department said Tuesday. That was 23% more than the deficit of $432.85 billion during the same period a year earlier.


    Tuesday’s report showed the federal budget deficit was $146.80 billion in May, 66% wider than the same month a year earlier. Government revenue fell 10% last month compared with a year earlier, while spending grew 11%.
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    Quote Originally Posted by PostmodernProphet View Post
    the one approved by the demmycrats and thirty Republicans?......
    And signed under protest by POTUS

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    Quote Originally Posted by archives View Post
    "The U.S. government had a $147 billion budget deficit in May, an increase of 66 percent from the same month last year as the ledger took a hit from declining revenue and higher spending, according to Treasury Department data released on Tuesday."

    "Economists caution that the Trump administration’s corporate and individual tax cuts along with an increase in government spending will drive up the country’s deficit despite a robust economy in which the unemployment rate has fallen to an 18-year low."

    https://www.reuters.com/article/us-u...ource=facebook

    And before some predictable conservative can chime in with the usual Obama "whataboutism," Obama had the deficit down to $438 billion in 2015, while Trump's first year it climbed to $665 billion and is expected to grow to $986 billion by 2020. And Obama was left with two unpaid wars, an unaccounted prescription drug plan, and a Recession of historical proportions, Trump, an economy trending upward

    https://www.usgovernmentspending.com...s2li011mcn_G0f

    So now we got Trump running up deficits in an era of economic advancement, spending like a drunken sailor, and conservatives used to tell us they were so concerned about deficits and debt.

    Guess conservative principles depend on who is occupying the White House
    Instead of looking at 1 month lets look at the whole fiscal year for a more honest and complete story.
    https://www.fiscal.treasury.gov/fsre...mt/mts0518.pdf
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