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workinclasszero

(28,270 posts) Tue Sep 11, 2018, 01:41 PM Sep 2018

Federal deficit soars 32 percent to $895B

BY NIV ELIS - 09/11/18 10:37 AM EDT

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.

Revenue from individual and payroll taxes was up some $105 billion, or 4 percent, while corporate taxes fell $71 billion, or 30 percent.

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

13 replies

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Highlight:

Federal deficit soars 32 percent to $895B (Original Post) workinclasszero Sep 2018 OP

Look at history, deficits ALWAYS go up under GOP and down under DNC Eliot Rosewater Sep 2018 #1

Where are all the GOP deficit hawks!? workinclasszero Sep 2018 #2

In this one instance nothing new here, GOP always raids the treasury and lies about it. Eliot Rosewater Sep 2018 #3

Always is right workinclasszero Sep 2018 #4

Always, the same dolts fall for it again, over and over, because they want to. Eliot Rosewater Sep 2018 #7

Thanks Obama BeyondGeography Sep 2018 #5

If this how Trump is 'Making America Great Again', we need a better plan. nt procon Sep 2018 #6

The silence is deafening from the Tea Party Yavin4 Sep 2018 #8

Bingo workinclasszero Sep 2018 #10

Didn't almost every economist in the country predict this?... MissMillie Sep 2018 #9

And Puerto Rico is still no where near back to normal. lpbk2713 Sep 2018 #11

Deficits don't matter... Wounded Bear Sep 2018 #12

The only time deficits and the debt matter gratuitous Sep 2018 #13

Eliot Rosewater

(31,112 posts)

1. Look at history, deficits ALWAYS go up under GOP and down under DNC

Reply to workinclasszero (Original post)

Tue Sep 11, 2018, 01:44 PM

Sep 2018

Not only that, when GOP are in charge

remember this rule

Six Years After Cheney Said ‘Deficits Don’t Matter,’ The National Debt Hits A 50-Year High

https://thinkprogress.org/six-years-after-cheney-said-deficits-dont-matter-the-national-debt-hits-a-50-year-high-40193bdadd2e/

He of course meant while GOP is in the WH, they dont matter. When DNC is they matter big time, right Dick?

Hey Dick, what happened to you telling the Clinton WH when you took over that Osama wasnt the problem , PUTIN was?

workinclasszero

(28,270 posts)

2. Where are all the GOP deficit hawks!?

Reply to Eliot Rosewater (Reply #1)

Tue Sep 11, 2018, 01:50 PM

Sep 2018

Screaming about democratic spending????

Too busy looting the treasury for their billionaire buddies I guess.

Eliot Rosewater

(31,112 posts)

3. In this one instance nothing new here, GOP always raids the treasury and lies about it.

Reply to workinclasszero (Reply #2)

Tue Sep 11, 2018, 01:52 PM

Sep 2018

The remarkable fact is our economy always suffers while they are in power, always.

workinclasszero

(28,270 posts)

4. Always is right

Reply to Eliot Rosewater (Reply #3)

Tue Sep 11, 2018, 01:55 PM

Sep 2018

Then when Democrats are elected to clean up the GOP FU economy, they get blamed for it!!

Eliot Rosewater

(31,112 posts)

7. Always, the same dolts fall for it again, over and over, because they want to.

Reply to workinclasszero (Reply #4)

Tue Sep 11, 2018, 02:20 PM

Sep 2018

Because the GOP tells them racism is healthy.

BeyondGeography

(39,374 posts)

5. Thanks Obama

Reply to workinclasszero (Original post)

Tue Sep 11, 2018, 02:01 PM

Sep 2018

Wait...

procon

(15,805 posts)

6. If this how Trump is 'Making America Great Again', we need a better plan. nt

Reply to workinclasszero (Original post)

Tue Sep 11, 2018, 02:07 PM

Sep 2018

Yavin4

(35,441 posts)

8. The silence is deafening from the Tea Party

Reply to workinclasszero (Original post)

Tue Sep 11, 2018, 02:22 PM

Sep 2018

I guess deficits are okay if the president is White.

workinclasszero

(28,270 posts)

10. Bingo

Reply to Yavin4 (Reply #8)

Tue Sep 11, 2018, 02:35 PM

Sep 2018

MissMillie

(38,559 posts)

9. Didn't almost every economist in the country predict this?...

Reply to workinclasszero (Original post)

Tue Sep 11, 2018, 02:22 PM

Sep 2018

Just like they predicted that the tax cut would be used for stock buy-outs instead of higher wages, more jobs and health insurance?

lpbk2713

(42,757 posts)

11. And Puerto Rico is still no where near back to normal.

Reply to workinclasszero (Original post)

Tue Sep 11, 2018, 02:38 PM

Sep 2018

Paper towels don't quite get the job done.

Any aid and restoration is done by individual volunteers.
Hardly any at all from governmental relief agencies.
Brown and black people don't qualify for Trump dollars.

Link: https://6abc.com/video-puerto-rico-revisited/3713837/

Wounded Bear

(58,662 posts)

12. Deficits don't matter...

Reply to workinclasszero (Original post)

Tue Sep 11, 2018, 03:04 PM

Sep 2018

when Repubs are in charge.

gratuitous

(82,849 posts)

13. The only time deficits and the debt matter

Reply to workinclasszero (Original post)

Tue Sep 11, 2018, 03:08 PM

Sep 2018

For Republicans, plundering the Treasury to further line the overstuffed pockets of the wealthy is perfectly all right. Desirable, even. But when money is being spent on things that don't go to the exclusive benefit of the wealthy, that's when the budgetary meat ax gets swung: "Look at all that money being wasted on schools! And those mooching little kids are going to be back again next year for more money. Cut, Cut, Cut!"

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