Fanboy Central

For the Fanboys of the White Sox


    Deficits worsening

    Share
    avatar
    SoxIlliniRob
    Fanboy Apprentice

    Posts : 673
    Join date : 2017-05-05
    Age : 52
    Location : Saint Charles, IL

    Deficits worsening

    Post by SoxIlliniRob on Fri Feb 02, 2018 10:58 am

    From the sounds of it, the current fiscal year appears on track toward a $1 trillion deficit, after spending the last five years in the range of a half trillion.  Anyone surprised by this?  Anyone remember when the deficit was a big deal?  No mention of it anymore.

    I just read that we just finished borrowing the most funds in a single quarter to fund our government that we have borrowed in about 8 yrs.  $441 billion.  Yikes.
    avatar
    alohafri
    Fanboy Apprentice

    Posts : 599
    Join date : 2017-05-05
    Age : 51
    Location : Between Sarah Michelle Gellar's Legs

    Re: Deficits worsening

    Post by alohafri on Fri Feb 02, 2018 11:06 am

    SoxIlliniRob wrote:From the sounds of it, the current fiscal year appears on track toward a $1 trillion deficit, after spending the last five years in the range of a half trillion.  Anyone surprised by this?  Anyone remember when the deficit was a big deal?  No mention of it anymore.

    I just read that we just finished borrowing the most funds in a single quarter to fund our government that we have borrowed in about 8 yrs.  $441 billion.  Yikes.

    Debt ceiling!!! Oh, wait.
    avatar
    SoxIlliniRob
    Fanboy Apprentice

    Posts : 673
    Join date : 2017-05-05
    Age : 52
    Location : Saint Charles, IL

    Re: Deficits worsening

    Post by SoxIlliniRob on Fri Feb 02, 2018 12:24 pm

    That goofy debt ceiling is the dumbest ass thing.  If we pass a budget that puts us into deficit, then the debt ceiling is, by my estimation, to be raised by default.  You can't pass a budget that is knowingly deficit, but then not be willing to raise the debt ceiling to allow that debt.  How stupid.  Of course, none of this was a thing until Obama needed it raised.  Then it became a huge problem.  I assume and expect that the Dems will at least pretend it's an issue now that the Trump administration is upping spending and raising deficits all willy nilly, but in the end it'll be raised.  If anything, the Dems will get all pissy about it just to make their point and give the GOP some of its own medicine.  Fair enough, I guess, but so dumb.
    avatar
    sharpy
    Getting to be a Fanboy

    Posts : 290
    Join date : 2017-05-10

    Re: Deficits worsening

    Post by sharpy on Sun Feb 04, 2018 5:37 pm

    So how's Kark feeling about the deficit rising, given that this was his main asspain
    avatar
    cream919
    Not a Fanboy

    Posts : 247
    Join date : 2017-05-05
    Location : Somewhere Between Heaven and Hell

    Re: Deficits worsening

    Post by cream919 on Sun Feb 04, 2018 9:02 pm

    He's too busy bragging about $2 gas to think about it.
    avatar
    SoxIlliniRob
    Fanboy Apprentice

    Posts : 673
    Join date : 2017-05-05
    Age : 52
    Location : Saint Charles, IL

    Re: Deficits worsening

    Post by SoxIlliniRob on Sun Feb 04, 2018 10:49 pm

    sharpy wrote:So how's Kark feeling about the deficit rising, given that this was his main asspain

    He gives zero fucks about it.  He says now it's rising for worthwhile reasons, i.e. it's giving it back to people to spend on the economy and that the economy will grow and deficits will reduce as a result.  I might buy into that if the money were going to the middle class and poor folks, but it's not.  It's going to rich folks and upper middle class folks for the most part, and only a few crumbs are going to the folks that live check to check.  That ain't going to have a big effect.  Poor and middle class don't pay very much at all in taxes, so you can't really lower their taxes much at this point.  The last thing this country needed was a tax cut.  I ain't against more money in our pockets, but we need infrastructure in this country, and those jobs will push wages higher due to competition between employers and that would have helped reduce deficits, rather than the current thing, which will worsen them.  Tax cuts are for when the economy needs a stimulus or a boost.  That wasn't needed right now.  Now that we've taken all of that tax revenue and are going to give it to the rich dudes instead of pay for infrastructure with it, we have no money to pay for new bridges and roads.  This was just dumb, but the rich dudes paid for a tax cut and were not going to stand for not getting one.
    avatar
    SoxIlliniRob
    Fanboy Apprentice

    Posts : 673
    Join date : 2017-05-05
    Age : 52
    Location : Saint Charles, IL

    Re: Deficits worsening

    Post by SoxIlliniRob on Mon Feb 05, 2018 11:14 am

    US Treasury today made formal arrangements to borrow approximately $1 trillion to cover this fiscal year's shortfalls.  Yes, $1 trillion.  They also notified the powers that be that they'll need to likely exceed $1 trillion in annual borrowing in the two years that follow this current year.  Who would have predicted this?
    avatar
    blondy28
    Getting to be a Fanboy

    Posts : 474
    Join date : 2017-05-06

    Re: Deficits worsening

    Post by blondy28 on Mon Feb 05, 2018 4:22 pm

    SoxIlliniRob wrote:US Treasury today made formal arrangements to borrow approximately $1 trillion to cover this fiscal year's shortfalls.  Yes, $1 trillion.  They also notified the powers that be that they'll need to likely exceed $1 trillion in annual borrowing in the two years that follow this current year.  Who would have predicted this?

    Anyone with an iota of common sense and a calculator?
    avatar
    blondy28
    Getting to be a Fanboy

    Posts : 474
    Join date : 2017-05-06

    Re: Deficits worsening

    Post by blondy28 on Mon Feb 05, 2018 4:26 pm

    SoxIlliniRob wrote:
    sharpy wrote:So how's Kark feeling about the deficit rising, given that this was his main asspain

    He gives zero fucks about it.  He says now it's rising for worthwhile reasons, i.e. it's giving it back to people to spend on the economy and that the economy will grow and deficits will reduce as a result.  I might buy into that if the money were going to the middle class and poor folks, but it's not.  It's going to rich folks and upper middle class folks for the most part, and only a few crumbs are going to the folks that live check to check.  That ain't going to have a big effect.  Poor and middle class don't pay very much at all in taxes, so you can't really lower their taxes much at this point.  The last thing this country needed was a tax cut.  I ain't against more money in our pockets, but we need infrastructure in this country, and those jobs will push wages higher due to competition between employers and that would have helped reduce deficits, rather than the current thing, which will worsen them.  Tax cuts are for when the economy needs a stimulus or a boost.  That wasn't needed right now.  Now that we've taken all of that tax revenue and are going to give it to the rich dudes instead of pay for infrastructure with it, we have no money to pay for new bridges and roads.  This was just dumb, but the rich dudes paid for a tax cut and were not going to stand for not getting one.

    I would have GLADLY taken some crumbs.  That $1.50 extra/week...would have LOVED that!  Instead, Dale, who had been claiming two, reduced his withholding to zero, and we just submitted W-4s to withhold an additional $375/month on top of that.

    Sponsored content

    Re: Deficits worsening

    Post by Sponsored content


      Current date/time is Sun Jul 15, 2018 11:54 pm