myiW Current Conditions and Forecasts Community Forums Buy and Sell Services
 
Hi guest · myAccount · Log in
 SearchSearch   ProfileProfile   Log in to check your private messagesLog in to check your private messages   RegisterRegister 
The Debt
Goto page 1, 2  Next
 
Post new topic   Reply to topic    iWindsurf Community Forum Index -> Politics, Off-Topic, Opinions
View previous topic :: View next topic  
Author Message
mac



Joined: 07 Mar 1999
Posts: 12654
Location: Berkeley, California

PostPosted: Thu Aug 22, 2019 3:34 pm    Post subject: The Debt Reply with quote

When Republicans called a spade a spade instead of a Trump shovel, they cared about fiscal policy. Long gone.
YEAR DEBT IN BILLIONS PERCENTAGE OF GDP

2008 $10,025 68% Bank bailout. QE.
2009 $11,910 ($11,000 on Mar 16 and $12,000 on Nov 16) 83% Bank bailout cost $250 b. ARRA added $241.9 b.
2010 $13,562 ($13,000 on Jun 1 and $14,000 on Dec 31) 90% ARRA added $400 b. Payroll tax holiday ended. Obama Tax cuts. ACA. Simpson-Bowles
2011 $14,790 ($15,000 on Nov 15) 95% Debt crisis. Recession and tax cuts reduced revenue.
2012 $16,066 ($16,000 on Aug 31) 99% Fiscal cliff
2013 $16,738 ($17,000 on Oct 17) 99% Sequester, Government shutdown.
2014 $17,824 ($18,000 on Dec 15) 101% War cost $309 billion. QE ended. Debt ceiling crisis.
2015 $18,151 99% Defense = $736.4 b.
2016 $19,573 ($19,000 on Jan 29) 104% Defense = $767.6 b.
2017 $20,245 ($20,000 on Sep Cool 103% Congress raised debt ceiling.
2018 $21,516 ($21,000 on Mar 15) 105% Trump tax cuts.
2019 $22,776 ($22,000 on February 11) 106% Defense = $956.5 b.
2020 $24,057 (est.) 106% Defense = record $989 b.

Under the Obama administration, the debt increased by $9.5 trillion, but the support for increased debt was bipartisan and in response to the worst financial crisis in our history. Under the Trump administration, it has increased by about $4.5 trillion in only three years, and led to a massive buy-back of stock.

Source: https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287

Much as I disliked the Clinton's, the debt only increased by $1.4 trillion during his 8 years. Since nobody has better credit than the US government, such massive debt increases are inflationary. Pick your metric and compare 1993 to 2019.
Back to top
View user's profile Send private message
isobars



Joined: 12 Dec 1999
Posts: 19175

PostPosted: Thu Aug 22, 2019 4:52 pm    Post subject: Reply with quote

Some world class economics pros present very persuasive arguments why the debt has at worst zero impact on our lives ... even why big debts HELP most investors. No one here, of any political persuasion, has the credentials to prove them wrong.
Back to top
View user's profile Send private message
mac



Joined: 07 Mar 1999
Posts: 12654
Location: Berkeley, California

PostPosted: Sun Aug 25, 2019 10:38 pm    Post subject: Reply with quote

Really.
Back to top
View user's profile Send private message
boggsman1



Joined: 24 Jun 2002
Posts: 7254
Location: at a computer

PostPosted: Mon Aug 26, 2019 8:35 am    Post subject: Reply with quote

isobars wrote:
Some world class economics pros present very persuasive arguments why the debt has at worst zero impact on our lives ... even why big debts HELP most investors. No one here, of any political persuasion, has the credentials to prove them wrong.


Is this the official RNC view on debt?
Back to top
View user's profile Send private message
MalibuGuru



Joined: 11 Nov 1993
Posts: 8414

PostPosted: Mon Aug 26, 2019 9:53 am    Post subject: Reply with quote

boggsman1 wrote:
isobars wrote:
Some world class economics pros present very persuasive arguments why the debt has at worst zero impact on our lives ... even why big debts HELP most investors. No one here, of any political persuasion, has the credentials to prove them wrong.


Is this the official RNC view on debt?


It's sad that it's come to this, but on the bright side, we'll be paying of the debt with cheaper money as a result of asset inflation. IMO, 99% of the wealth created in the last 12 years has been a result of zero interest rates and money printing. When this ends, it'll be nuclear war.
Back to top
View user's profile Send private message
mac



Joined: 07 Mar 1999
Posts: 12654
Location: Berkeley, California

PostPosted: Mon Aug 26, 2019 10:35 am    Post subject: Reply with quote

Malibu doubles down on inflation. The GOP--all in on steal now, make your grandchildren pay the bill. Sad.
Back to top
View user's profile Send private message
MalibuGuru



Joined: 11 Nov 1993
Posts: 8414

PostPosted: Mon Aug 26, 2019 12:32 pm    Post subject: Reply with quote

mac wrote:
Malibu doubles down on inflation. The GOP--all in on steal now, make your grandchildren pay the bill. Sad.


Unfortunately Mac, the Democrats control the purse strings. No president in his right mind would push the issue.
Back to top
View user's profile Send private message
mac



Joined: 07 Mar 1999
Posts: 12654
Location: Berkeley, California

PostPosted: Mon Aug 26, 2019 1:09 pm    Post subject: Reply with quote

MalibuGuru wrote:
mac wrote:
Malibu doubles down on inflation. The GOP--all in on steal now, make your grandchildren pay the bill. Sad.


Unfortunately Mac, the Democrats control the purse strings. No president in his right mind would push the issue.


We don’t have a president in his right mind. Obvious to all. But only a fellow lunatic would ignore the impact of the Trump tax cuts—and then argue our children will pay it back with inflated dollars.

https://www.taxpolicycenter.org/briefing-book/how-did-tcja-affect-federal-budget-outlook
Back to top
View user's profile Send private message
MalibuGuru



Joined: 11 Nov 1993
Posts: 8414

PostPosted: Mon Aug 26, 2019 2:43 pm    Post subject: Reply with quote

mac wrote:
MalibuGuru wrote:
mac wrote:
Malibu doubles down on inflation. The GOP--all in on steal now, make your grandchildren pay the bill. Sad.


Unfortunately Mac, the Democrats control the purse strings. No president in his right mind would push the issue.


We don’t have a president in his right mind. Obvious to all. But only a fellow lunatic would ignore the impact of the Trump tax cuts—and then argue our children will pay it back with inflated dollars.

https://www.taxpolicycenter.org/briefing-book/how-did-tcja-affect-federal-budget-outlook


Tax revenue has remained solid since tax cuts were implemented
Back to top
View user's profile Send private message
mac



Joined: 07 Mar 1999
Posts: 12654
Location: Berkeley, California

PostPosted: Mon Aug 26, 2019 3:21 pm    Post subject: Reply with quote

Fake news from a fake conservative. Facts:

U.S. Tax Revenue by Year
FY 2020 - $3.64 trillion, budgeted.
FY 2019 - $3.44 trillion, estimated.
FY 2018 - $3.33 trillion.
FY 2017 - $3.32 trillion.
FY 2016 - $3.27 trillion.
FY 2015 - $3.25 trillion.
FY 2014 - $3.02 trillion.
FY 2013 - $2.77 trillion.

Revenues have grown by about 4%--over three years. During the Obama era, despite deficit spending and an economy that Republicans had driven into the ditch, tax revenues grew from $2.1 trillion to $3.27 trillion--57% over 8 years.

Fake news.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    iWindsurf Community Forum Index -> Politics, Off-Topic, Opinions All times are GMT - 5 Hours
Goto page 1, 2  Next
Page 1 of 2

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum

myiW | Weather | Community | Membership | Support | Log in
like us on facebook
© Copyright 1999-2007 WeatherFlow, Inc Contact Us Ad Marketplace

Powered by phpBB © 2001, 2005 phpBB Group