Government Report Says U.S. Budget Deficit Set To Hit $897 Billion
Source: Huffington Post
A new government report says that the U.S. budget deficit is set to hit $897 billion this year and predicts that economic growth will slow as the effects of President Donald Trumps tax cut on business investment begin to drop off.
The Congressional Budget Office Report predicts a $118 billion increase over last years $779 billion deficit.
The CBO predicts in a report released Monday that the economy will grow by 2.3 percent this year, a slowdown from 3.1 percent last year.
The report lands in a divided Washington, where neither Trump nor Democrats controlling the House are expected to make curbing the deficit a priority.
Read more: https://www.huffingtonpost.com/entry/government-report-says-us-budget-deficit-set-to-hit-897-billion_us_5c4f2473e4b0e1872d4635fc
still_one
(92,325 posts)dawg day
(7,947 posts)Problem is, the Dems do herculean work, often cutting social programs, to get the deficit down, and then a GOPer gets in and squanders it.
Look at Bush, who inherited a BALANCED BUDGET, and saw it as a great opportunity to invade Iraq.
still_one
(92,325 posts)Bengus81
(6,932 posts)He pissed off that Clinton surplus in a NY minute.
Blue_Tires
(55,445 posts)Dems re-take the White House...
Stories like this (and their complete lack of outrage) need to be bookmarked for later.
UpInArms
(51,284 posts)I am sick of these peeps ... doing the same shit and then blaming everyone else for their own profligacy
dawg day
(7,947 posts)I have been amazed at how seldom we hear that word anymore.
IronLionZion
(45,494 posts)we're already tired of winning.
PeeJ52
(1,588 posts)Achilleaze
(15,543 posts)they are radical greedheads, now compromised by getting into bed with the freaking russians who are making war on the USA. Republicans have betrayed the USA in every way imaginable.
JohnnyRingo
(18,638 posts)Better yet, just fwd your uncle's cranky emails from 2009 back to him. After all, he's still "taxed enough already".
apnu
(8,758 posts)Doremus
(7,261 posts)Do the ptb think we are that stupid as to not remember the trillion dollar tax cut they just bestowed to the oligarchy?
NotHardly
(1,062 posts)If that were the rule, the tax cuts would have to be rescinded to fix it, the tariffs (which means the economic policymaker & crew), and right on down the line to include the military budget pared back to less than 45% of our total budget.
oldlibdem
(330 posts)When the repugs have all three branchs they spend like drunken sailors with not one word said about the defict.
Pantagruel
(2,580 posts)Bengus81
(6,932 posts)No growth,no real hiring no nothing. Maybe a new 25M Biz jet here and there but NOTHING in the way or real growth. As usual the meat of tax cuts are given to those who don't need them,everyone else gets $1.50 a week and it does NOTHING. The Stock market rise was smoke and mirrors BS--down another 208 points today.
Remember the Dems on the Bush.IDIOT tax cut?? It would either get you a new Lexus or a muffler depending on your situation.
duforsure
(11,885 posts)He'd balance the budget? lol. Its opposite of his claim again, and wants to drive us into deeper debt to crash the economy.