What changed your perspective after reading the above verses?
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Yep Obama (giving China all it wanted via trade deals) , Hillary (Russia restart and demolishing relations in the Mid-East) and Kerry (he just sucked period as a "Casper milk-toast" liberal) screw-ups.
China unveils military power with huge parade...
XI: 'World Isn't Safe'...
Communists flex muscle...
Trump Warns...
Putin shows off naval might; Showcases global ambitions...
755 US diplomats must leave Russia...
Actually this is all of the tax loving Democrats fault but Obama had the last 8 years so.....!!
AMERICANS SPEND MORE ON TAXES THAN FOOD, CLOTHING COMBINED
But not more than food, housing, clothing, transportation, healthcare, entertainment, cash contributions, insurance, and all other expenditures combined.
Taxes are too high....period.
But, because of obummer and the Dirty Harry coalition, we have huge debt to climb out of. There is no easy way, no painless way, to do this. The ONLY way is a combination of taxes and spending cuts. REAL cuts! not just reductions in planned increases.
Under Trump...so far...we've seen a slight reduction in the projected debt growth. Okay. But while that is better than if Krooked Killary was prez, it's still an increase in the debt. We're looking at a national debt right at $19 trillion in 2017. We don't (and can't) eliminate the debt "over night." It took 12 years to get this huge debt...the last 4 years of GWB and the 8 years of obummer. Remember, GWB inherited a national debt of about $4 trillion in 2001. He left it at $8 trillion in 2008, and obummer more than doubled it again to where it is now. According to the CBO, if obummer was still prez, or if Killary was, the debt would be at $21 trillion now.
As long as we are making progress to reduce the national debt, the economy will be fine. For instance, if the debt is projected to drop to $18.5 trillion by the end of 2018, that will spur confidence. Although not a big reduction, it represents a positive trend. And markets, the economy as a whole, respond to trends.
As for taxes, and ahem, tax increases, I think the country, and the economy as a whole, would be okay with a specified tax plan as long as it had a sunset provision. Say, two years. But, this has to be combined with real spending cuts in the federal budget. Some of that "pain" can be absorbed thru attrition. But, there is no easy way to accomplish what needs to be done. Some decisions will have to be made, and that means some political capital will have to be expended by both parties.
So. is the deficit going to go up or down under Trump?
That's not clear yet, salty. Remember, the 2017 budget is essentially obummer's budget. Federal fiscal year runs from October 1 to September 30. Now, it is true that prezzes can use executive orders to change the budget. That's exactly what Trump did in January, and a few more times since. Also, Congress controls spending and can thwart, or enhance, what a prez wants. To answer your question, IF (big IF) Congress follows through with what Trump wants, and what the GOP said it wanted, the deficit for FY 16-17 can go down vs. last year's deficit.
The reason the national debt is $19 instead of $21 trillion (had Killary been prez) is based on what Killary said she would do if elected, and what Trump HAS DONE. Taking on debt, even long term debt and/or debt that has a maturity date (like bonds) adds to the debt now.
If I were to grant you a loan today, in 2017, of say $10,000, and set it so your first note (payment) would be June 1, 2018 with a payoff date of say, May 31, 2023. That $10K is added to your long term liability, debt, today. That's what Killary was planning to do, take on obligations (with pay outs now) to be "paid for" years from now. Trump cancelled many of those obummer-era programs, which eliminated about $2 trillion in debt.
But, yeah, the key is controlling the deficit. The only real way to reduce the debt is to reduce the deficit...i.e. income vs. expenditures for a FY....and use the excess to service the debt. Which, at the end of the day, doesn't reduce the deficit, but does allocate some to reducing the debt. But, you and I know what is really needed is not just a balanced budget (unless that includes debt service) but a surplus!
The current budget as signed by obummer, is $4.2 trillion in spending and $3.6 trillion in revenue. Which, is about the best budget he signed. Only $600 billion deficit, woohoo! Trump has improved that already with his executive orders, narrowing the gap to about $400 billion. But, projections from a greatly improved economy, more activity and thus more tax revenues, has some projections, for instance from the Fisher Newsletter, of bringing the deficit down below $100 billion. Surely Congress can find that amount in spending cuts to completely close the gap!
Back to my point about a temporary tax hike...
If increased economic activity increases revenues, and if Congress will make some sensible spending cuts, then I think a tax increase, THAT SUNSETS!, would be okay with the American people. Start with the highest income brackets and increase taxes some, gradually reducing the rate of increase (%) the lower you go. But, I think even the lowest income bracket should have some increase. Even if that is a token .001% increase or something. EVERYONE has to have skin in the game! That way ALL VOTERS, those who support Repubs and those who support the 'craps, will insist on Congress and the WH doing its part to deliver results during the temp tax hike period. There could be/should be political consequences for any elected official who effs it up.
Ah, one more thing....
now, what effect will this Harvey mess have on the federal budget and thus the deficit? Will Trump/Congress authorize $billions in relief thus swelling the deficit? Not saying they shouldn't, but no one plans for events of this magnitude and thus there was no budget item for such a disaster. And, more to come? Irma is lurking out there. And, what about NK? Will we see another war, which costs many $billions?