Current Events > Federal deficit soars 32 percent to $895B (32%)

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Giant_Aspirin
09/11/18 1:28:24 PM
#1:


http://thehill.com/policy/finance/406040-federal-deficit-soars-32-percent-to-895b

The federal deficit hit $895 billion in the first 11 months of fiscal 2018, an increase of $222 billion, or 32 percent, over the same period the previous year, according to the Congressional Budget Office (CBO).

The nonpartisan CBO reported that the central drivers of the increasing deficit were the Republican tax law and the bipartisan agreement to increase spending. As a result, revenue only rose 1 percent, failing to keep up with a 7 percent surge in spending, it added

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KiwiTerraRizing
09/11/18 1:29:01 PM
#2:


Small government conservatives
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UnholyMudcrab
09/11/18 1:29:10 PM
#3:


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Manocheese
09/11/18 1:30:14 PM
#4:


Thanks, Obama.
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Bloodychess
09/11/18 1:30:21 PM
#5:


Thanks Obama

Edit: Damnit!
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John_Galt
09/11/18 1:30:48 PM
#6:


Yup, spending is out of control

Time to make harsh cuts across the board
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Giant_Aspirin
09/11/18 1:31:10 PM
#7:


idk why i had to include (32%) in the title when i already put "32 percent". derp
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BWing
09/11/18 1:31:17 PM
#8:


Giant_Aspirin posted...
The nonpartisan CBO reported that the central drivers of the increasing deficit were the Republican tax law and the bipartisan agreement to increase spending. As a result, revenue only rose 1 percent, failing to keep up with a 7 percent surge in spending, it added

@Womp_Womp
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Chad-Henne
09/11/18 1:31:37 PM
#9:


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DifferentialEquation
09/11/18 1:32:08 PM
#10:


You have to spend money to make money. And Trump knows how to make money.
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darkjedilink
09/11/18 1:34:00 PM
#11:


John_Galt posted...
Yup, spending is out of control

Time to make harsh cuts across the board

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Giant_Aspirin
09/11/18 1:35:02 PM
#12:


DifferentialEquation posted...
You have to spend money to make money. And Trump knows how to make money.


A+ DE post, keep up the quality work
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Bishop9800
09/11/18 1:35:06 PM
#13:


DifferentialEquation posted...
You have to spend money to make money. And Trump knows how to spend money.


FTFY
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Anarchy_Juiblex
09/11/18 1:36:20 PM
#14:


So we're content to add nearly a trillion to the debt every year?

Gold/ammo is looking like a great long term investment.
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lifeamovie
09/11/18 1:37:08 PM
#15:


Debt is largely meaningless

Our net worth is way above that
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Giant_Aspirin
09/11/18 1:44:59 PM
#16:


Im the king of debt. Im great with debt. Nobody knows debt better than me, Trump told Norah ODonnell in an interview that aired on CBS This Morning. Ive made a fortune by using debt, and if things dont work out I renegotiate the debt. I mean, thats a smart thing, not a stupid thing.

How do you renegotiate the debt? ODonnell followed up.

You go back and you say, hey guess what, the economy crashed, Trump replied. Im going to give you back half.

https://www.politico.com/story/2016/06/trump-king-of-debt-224642
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Tyranthraxus
09/11/18 1:47:54 PM
#17:


Giant_Aspirin posted...
Im the king of debt. Im great with debt. Nobody knows debt better than me, Trump told Norah ODonnell in an interview that aired on CBS This Morning. Ive made a fortune by using debt, and if things dont work out I renegotiate the debt. I mean, thats a smart thing, not a stupid thing.

How do you renegotiate the debt? ODonnell followed up.

You go back and you say, hey guess what, the economy crashed, Trump replied. Im going to give you back half.

https://www.politico.com/story/2016/06/trump-king-of-debt-224642

Lmao what
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Giant_Aspirin
09/11/18 1:51:39 PM
#18:


Tyranthraxus posted...
Giant_Aspirin posted...
Im the king of debt. Im great with debt. Nobody knows debt better than me, Trump told Norah ODonnell in an interview that aired on CBS This Morning. Ive made a fortune by using debt, and if things dont work out I renegotiate the debt. I mean, thats a smart thing, not a stupid thing.

How do you renegotiate the debt? ODonnell followed up.

You go back and you say, hey guess what, the economy crashed, Trump replied. Im going to give you back half.

https://www.politico.com/story/2016/06/trump-king-of-debt-224642

Lmao what


that's a direct quote from the President of the United States of America demonstrating his impeccable understanding of economics
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Turbam
09/11/18 1:52:44 PM
#19:


That just means we need to double down
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ArchiePeck
09/11/18 1:53:15 PM
#20:


Yeah but a bunch of old rich white men are now slightly richer!
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#21
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DifferentialEquation
09/11/18 1:58:55 PM
#22:


Giant_Aspirin posted...
Im the king of debt. Im great with debt. Nobody knows debt better than me, Trump told Norah ODonnell in an interview that aired on CBS This Morning. Ive made a fortune by using debt, and if things dont work out I renegotiate the debt. I mean, thats a smart thing, not a stupid thing.

How do you renegotiate the debt? ODonnell followed up.

You go back and you say, hey guess what, the economy crashed, Trump replied. Im going to give you back half.

https://www.politico.com/story/2016/06/trump-king-of-debt-224642


What's wrong with that? Having our debt cut in half would be a good thing.
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D-Lo_BrownTown
09/11/18 2:00:06 PM
#23:


So is Obama gonna get on TV and take credit for this too?
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Damn_Underscore
09/11/18 2:00:15 PM
#24:


Thankfully we're still in Obama's economy, this would have been horrible for Trump.
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P4wn4g3
09/11/18 2:01:32 PM
#25:


Republicans: We can't help the poor when we are this much in debt!

Also republicans: Let's increase the debt each year and give handouts to the rich!
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Giant_Aspirin
09/11/18 2:03:28 PM
#26:


DifferentialEquation posted...
Giant_Aspirin posted...
Im the king of debt. Im great with debt. Nobody knows debt better than me, Trump told Norah ODonnell in an interview that aired on CBS This Morning. Ive made a fortune by using debt, and if things dont work out I renegotiate the debt. I mean, thats a smart thing, not a stupid thing.

How do you renegotiate the debt? ODonnell followed up.

You go back and you say, hey guess what, the economy crashed, Trump replied. Im going to give you back half.

https://www.politico.com/story/2016/06/trump-king-of-debt-224642


What's wrong with that? Having our debt cut in half would be a good thing.


you're right, i wonder why Trumpy doesn't do it? maybe it goes back to the whole "spend money to make money" thing you mentioned earlier.
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Giant_Aspirin
09/11/18 2:04:48 PM
#27:


Damn_Underscore posted...
Thankfully we're still in Obama's economy, this would have been horrible for Trump.


i had to read the name three times to be sure this wasn't DE
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DifferentialEquation
09/11/18 2:20:59 PM
#28:


P4wn4g3 posted...
Republicans: We can't help the poor when we are this much in debt!

Also republicans: Let's increase the debt each year and give handouts to the rich!


The rich are the ones who provide the jobs and the products we buy every day. When you help the rich you're necessarily helping the poor too.
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Questionmarktarius
09/11/18 2:23:30 PM
#29:


"Austerity" is not a dirty word.
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Axiom
09/11/18 2:28:37 PM
#30:


Anyone that's been paying attention the last couple years saw this coming. All Trump cares about is benefiting his fellow rich. He doesn't give a damn about the country or the people that don't benefit him

Also related

Trump then offered a suggestion that could make it easier to drop the top corporate rate to 15%: Raise the top individual rate to 44% from 39.6%.

"I'll take the personal top rate to 44% if I can get the corporate rate to 15%," Trump said, Woodward wrote.

"Sir, you can't take the top rate up," Cohn reportedly responded. "You just can't."

"What do you mean?" Trump reportedly replied.

"You're a Republican," Cohn, a Democrat, apparently explained, adding that Trump would "get absolutely destroyed" if he raised the top rate.
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Womp_Womp
09/11/18 2:29:43 PM
#31:


BWing posted...
Giant_Aspirin posted...
The nonpartisan CBO reported that the central drivers of the increasing deficit were the Republican tax law and the bipartisan agreement to increase spending. As a result, revenue only rose 1 percent, failing to keep up with a 7 percent surge in spending, it added

@Womp_Womp

Womp womp
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DifferentialEquation
09/11/18 2:31:13 PM
#32:


Axiom posted...
Anyone that's been paying attention the last couple years saw this coming. All Trump cares about is benefiting his fellow rich. He doesn't give a damn about the country or the people that don't benefit him


False. I'm not rich or even close to it and Trump's tax cuts increase my take home pay.
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Antifar
09/11/18 2:32:03 PM
#33:


It was a mistake to take Republicans at their word when they talked about their concern for the deficit.
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Damn_Underscore
09/11/18 2:32:11 PM
#34:


The deficit going up does not benefit the rich. Something like the tax cuts benefited a lot of rich rich people but it also benefited everyone... at least in the short term.

Creating an antagonism between "the rich" and everyone else by blaming (Trump pandering to) the rich helps no one.
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hockeybub89
09/11/18 2:32:45 PM
#35:


Time to raise the defense budget and slash all social programs
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Giant_Aspirin
09/11/18 2:34:01 PM
#36:


hockeybub89 posted...
Time to raise the defense budget and slash all social programs


GOP gonna GOP
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BWing
09/11/18 2:35:27 PM
#37:


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Hawaiian_punch
09/11/18 2:36:28 PM
#38:


KiwiTerraRizing posted...
Small government conservatives


UnholyMudcrab posted...
Fiscal responsibility


I am sure the tea party will care, right? After all they blocked anything Obama did until he eliminated the deficit.

Right? Right? Guys?

what do you mean theyre pro-debt now and theyd grow the deficit to 100% as long as they can be racist!?!
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Hawaiian_punch
09/11/18 2:37:27 PM
#39:


DifferentialEquation posted...
You have to spend money to make money. And Trump knows how to make money.


Funny how you didnt think the same with Obamas recovery package/stimulus bill, @DifferentialEquation
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Heineken14
09/11/18 2:38:14 PM
#40:


Meh, were at a point where debt and deficit dont matter. Cant remember why exactly, but were fine with out of control spending for sone reason. Itll cone back to me on why we should care about that in 2 to 6 years.
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Axiom
09/11/18 2:38:55 PM
#41:


BWing posted...
https://www.cnbc.com/2018/09/11/trump-once-considered-just-printing-money-to-lower-the-national-debt-woodward-reports.html

Trump's response to debt. Print more money!

Using the Zimbabwe tactic
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divot1338
09/11/18 2:43:01 PM
#42:


Tyranthraxus posted...
Giant_Aspirin posted...
Im the king of debt. Im great with debt. Nobody knows debt better than me, Trump told Norah ODonnell in an interview that aired on CBS This Morning. Ive made a fortune by using debt, and if things dont work out I renegotiate the debt. I mean, thats a smart thing, not a stupid thing.

How do you renegotiate the debt? ODonnell followed up.

You go back and you say, hey guess what, the economy crashed, Trump replied. Im going to give you back half.

https://www.politico.com/story/2016/06/trump-king-of-debt-224642

Lmao what

He does not have good credit.
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DifferentialEquation
09/11/18 2:46:08 PM
#43:


Hawaiian_punch posted...
DifferentialEquation posted...
You have to spend money to make money. And Trump knows how to make money.


Funny how you didnt think the same with Obamas recovery package/stimulus bill, @DifferentialEquation


I thought it was implied, but let be more precise. You have to spend money wisely. So far, I agree with everything Trump has done and I can't recall a single instace where I agreed with Obama's fiscal policy.
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P4wn4g3
09/11/18 2:49:46 PM
#44:


DifferentialEquation posted...
The rich are the ones who provide the jobs and the products we buy every day.

Who exactly are "the rich" providing money to other than themselves? A handful of assistants, lawyers, accountants, and doctors sure. They aren't the ones actually employing people as far as organizations go.
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BWing
09/11/18 2:50:03 PM
#45:


Axiom posted...
BWing posted...
https://www.cnbc.com/2018/09/11/trump-once-considered-just-printing-money-to-lower-the-national-debt-woodward-reports.html

Trump's response to debt. Print more money!

Using the Zimbabwe tactic

Yep, lol
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Giant_Aspirin
09/11/18 2:56:32 PM
#46:


Hawaiian_punch posted...
DifferentialEquation posted...
You have to spend money to make money. And Trump knows how to make money.


Funny how you didnt think the same with Obamas recovery package/stimulus bill, DifferentialEquation


DE is a gimmick account designed to regurgitate typical alt-right/pro-Trump talking points in an effort to paint that side as ignorant and foolish. don't argue with him or challenge him. instead, embrace him
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DifferentialEquation
09/11/18 2:58:28 PM
#47:


Giant_Aspirin posted...
Hawaiian_punch posted...
DifferentialEquation posted...
You have to spend money to make money. And Trump knows how to make money.


Funny how you didnt think the same with Obamas recovery package/stimulus bill, DifferentialEquation


DE is a gimmick account designed to regurgitate typical alt-right/pro-Trump talking points in an effort to paint that side as ignorant and foolish. don't argue with him or challenge him. instead, embrace him


That's not true.
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SuperMedz3
09/11/18 4:58:11 PM
#49:


Bloodychess posted...
Thanks Obama

Edit: Damnit!

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Nomadic View
09/11/18 4:59:17 PM
#50:


Obamas economy.
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CableZL
09/12/18 10:24:04 AM
#51:


I was told the tax cut was going to pay for itself
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