Reporters sometimes mislead the public about the composition of federal spending by using a subset of spending that omits the vast majority of social programs. Idiots voting got us here, and the politicians don’t have the spine to make the “tough” decisions that need to be made to fix everything. That’s one of the things I’ve never understood about government employees. Social Security is fully self-funded, and Congress stole much of their funds (our retirement savings) to pay for tax cuts for the wealthy under GW Bush. The federal government weighs in on Mahanoy Area School District v. B.L.. Damon Root mpercy…Yes, yes. The national debt was falling and amounted to only 31 percent of GDP. don’t forget the rebranding of the Soviet Union and subsequent “peace dividend”. When you look at their actions, however, it becomes apparent that this is a non-issue. The US debt is now projected to be larger than the ... - CNN You keep pitching that pile of bullshit, but no one here is stupid enough to go for it. Celebrity Biography. Who famously changed his tune and claimed that speech was a political one, and not one he was bound by as President, when his viewpoint changed 180% in a major flip-flop. Whose fault is this? A report said the budget deficit totaled 22.808 billion euros in 2020, down 1.5 billion from budget provisions. When you become eligible for SS, you are not getting back “your money”, but rather you are getting paid from the taxes collected from the younger people who are still working and paying the tax. McCain single handedly tanked healthcare reform. And the other FACT is that neoclassical marginalist economics has a fetish about the importance of ‘capital’. Actually, JFree is correct in a real sense. But the house controls the purse. Correct Answer: More than $122,000. | Motley Fool | 2018, easy way to lower property taxes…shut down medicaid and end teacher’s unions..will work pretty quick and cut my bill in half or more. Leadership means that ‘‘the buck stops here.’’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. The problem is the shitbags that talk the talk, but won’t walk the walk when it comes down to actually getting it done. Best-case scenario, it’s a real belief, but not a motivating belief. Gov. Regular budget revenue was 53.033 billion euros, up 2.4 pct from budget targets for the year, while tax revenue totaled 43.254 billion euros, up 473 million from targets. The only reason ‘cut defense spending’ is the rallying cry of the far left is because it’s the only spending they can think of that won’t alienate some portion of their redistributionist voter plantation. Those, in combo with the banks lending massive amounts now that they had both a Fed backstop AND govt war debt to serve as the reserves, had jacked up the price of land – cuz banks – and farmers in their usual overreach re land prices had to overproduce in order to pay back their loans. So just to be clear you’re agreeing with us that Trump should have pushed harder to cut spending. In short, all that said was “It’s more complicated!” which nobody denies. Look at education and healthcare and the military…the prices only go up and up. In summary . We can’t even freeze currently levels of spending. The Deficit as a Percent of GDP The Congressional Budget Office (CBO) projects that this deficit for 2020 will be 16% of U.S. gross domestic product (GDP), which is the largest it's been since 1945. This article is a ridiculous piece of propaganda. The problem is that $90 gets deposited in another bank that can now lend out $81 on top of that original $90. Cuomo addressed the state's $15 billion budget deficit on Wednesday. Those assume, among other things, that some of the 2017 tax cuts will expire in the middle of this decade. Cut spending, period. History tells us that the best chance for reduction in deficits is when the President is a Democrat and at least on House of Congress is controlled by the Republicans. That’s still fractional reserve lending since they are lending more than they have by some random amount. If I am a millionaire, I would pay SS taxes on much more of my income….therefore, I should expect a significantly higher benefit. You have hit correctly on the problem. Other payments were shifted into January 2020 because February 1, 2020 of that year fell on a weekend. You can always tell a nutjob because they truly believe the only recession ever was 1920. The biggest driver of national debt, by far, were the Trump tax cuts for the rich, on top of a tax system already heavily weighted in favor of the rich since Reagan, filled with giveaways for those wealthy enough to qualify. Please note that joining is free of charge you don’t pay any dine to become member and to contact us here is our directly email iluminatihood123@gmail.com mobile number +13092795479 join one join all. Cuomo’s budget office estimates it has grown to $14.5 billion. The tax cuts had little to no effect on the deficit. You don’t know how labor force participation rate is calculated, do you, DrInsomnia. The one nation that did attack us, Saudi Arabia on 9/11, is one of Trump’s best friends, and we have no problem when they assassinate US journalists on foreign soil. Meaningful and sustained deficit reduction and retirement of the national debt absolutely requires Congress to act. If you only steal a little bit from absolutely everybody, it doesn’t count as stealing! They are more efficient and less costly. End all welfare benefits, and Finally – – -4. Got it. We have a track record of Washington DC politicians managing SS for 70 years. A report said the budget deficit totaled 22.808 billion euros in 2020, down 1.5 billion from budget provisions. Tuccille So start with all that fluff, and we can move on after that! 3.8.2021 2:45 PM. "A nervous bond market could demand higher interest rates, further weakening both the economy and the deficit," says Riedl. “Price inflation is out of control in Venezuela. Correct answer given by 48% of all voters, 44% of Democrat voters, 53% of Trump voters, 53% of males, 43% of females, 53% of 18 to 34 year olds, 52% of 35 to 64 year olds, and 43% of 65+ year olds. Question 21: In 1960, governments paid for 24% of all healthcare costs in the U.S. Do you think governments now pay a greater portion or a lesser portion of all healthcare costs in the U.S.? National Debt. If you look at national stats the majority of people in ALL those jobs are already native born, including in farm work fucktard! Trump was accused of saying the he would get rid of the national debt in 8 years. nothing some double digit inflation can’t fix, And that’s probably what this is all going to come down to sooner or later…. The US economy didnt recover from the Great Recession in 2009. I guess you figure the Venezuelan banks are loaning money left and right? The US is not the only nation benefitting from capitalism. Your email address will not be published. Here in America in the 2020’s it is hoped that the Democrat party will collapse to irrelevancy. There’s a big difference between letting an Indian engineer move here, who will be a net tax payer and likely never commit a crime… And letting in illiterate peasants who will be a net tax drain on native born people, commit more crimes on average (as do all poor people), and cause a host of other issues. The country is on track to add more than $1 trillion to that total in every year of the coming decade, with old age entitlements ramping up as Baby Boomers retire and the country as a whole ages. The fact is people are stupid, which is why the founding fathers never intended universal suffrage. But, by the time it hit, the legislature was done with its supplemental budget. There has not been a 30-year historical period in the last 150 years where a balanced portfolio (60/40) of low cost index funds would have had a terminal value of zero with a 3.3% annual withdrawal rate. And Republicans run scared because of it. Obama received an economy in deep recession, so deficit spending is a normal reaction to that. You are correct in that banks are capital constrained when it comes to lending, but JFree is correct in saying that banks create money when they lend. 3.6.2021 6:00 AM. Hey look, a can. “The Obama Administration” did no such thing. Social security, for example. Even passing a federal budget through the normal committee process appears to be impossible, a testament to the failure of both parties' current congressional leaders. This means that even the Democratic House’s legislation has a huge stamp of Republican impact. We need to drastically reduce our military spending, at least to the level of such nations as Russia and China, but as long as certain major corporations make billions from war, they can afford to make donations to persuade politicians that we need to keep attacking on the other side of the world, and keep shoveling money into the mouths of the owners and executives of those companies. Until the spending is curtailed, there is no tax rate which will end the deficits. That’s true and there’s no doubting that. But the Republicans are high on spending for business which means keeping the US military well prepared to protect capitalism around the globe. And lastly shut down the Fed and go back to a gold standard. That is a figment of neoclassical/marginalist economics. Screw raising taxes; it only encourages more spending. 3.8.2021 11:45 AM, © 2020 Reason Foundation | Thinking about all federal government debt broken down to a per household basis, do you think the average federal debt per U.S. household amounts to more or less than the average consumer debt per U.S. household?

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