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"Now you're not naive enough to think we're living in a democracy, are you Buddy? It's the free market. And you're a part of it." -- Gordon Gekko.

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https://www.bloomberg.com/news/articles/2019-08-12/u-s-budget-deficit-already-exceeds-last-year-s-total-figure?srnd=premium

 

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The U.S. fiscal deficit has already exceeded the full-year figure for last year, as spending growth outpaces revenue.

 

The gap grew to $866.8 billion in the first 10 months of the fiscal year, up 27% from the same period a year earlier, the Treasury Department said in an emailed statement on Monday. That’s wider than last fiscal year’s shortfall of $779 billion -- which was the largest federal deficit since 2012.

 

Paul Ryan was the biggest fraud of the modern day conservative movement.


Very Stable Genius

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"Now you're not naive enough to think we're living in a democracy, are you Buddy? It's the free market. And you're a part of it." -- Gordon Gekko.

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"Now you're not naive enough to think we're living in a democracy, are you Buddy? It's the free market. And you're a part of it." -- Gordon Gekko.

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"Now you're not naive enough to think we're living in a democracy, are you Buddy? It's the free market. And you're a part of it." -- Gordon Gekko.

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Congratulations, GOP. I thought it was the party of fiscal responsibility? While I wish the Democrats would cut budgets (especially military, energy and transportation subsidies), at least they find ways to pay for their programs.


"Now you're not naive enough to think we're living in a democracy, are you Buddy? It's the free market. And you're a part of it." -- Gordon Gekko.

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https://www.cnbc.com/2019/08/21/cbo-expects-deficit-to-grow-more-than-projected-warns-tariffs-could-harm-growth.html

 

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Federal deficits are expected to swell to higher levels over the next decade than previously expected, the nonpartisan Congressional Budget Office said in a new report Wednesday.

 

The CBO also said that President Donald Trump’s tariffs are projected to shrink gross domestic product by 2020, and warned that further tariff hikes could stifle economic growth.

 

The U.S. budget deficit is expected to hit $960 billion in 2019, and average a whopping $1.2 trillion per year between 2020 and 2029, according to the CBO’s look-ahead at the U.S.′ budget and economic outlook over the next decade.

 

"The tax cuts will pay for themselves" = lie

 

"I will get rid of the debt" = lie


Very Stable Genius

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"Now you're not naive enough to think we're living in a democracy, are you Buddy? It's the free market. And you're a part of it." -- Gordon Gekko.

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"Now you're not naive enough to think we're living in a democracy, are you Buddy? It's the free market. And you're a part of it." -- Gordon Gekko.

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The ship may be turning in conservative circles (a long-overdue course correction) on fiscal sanity, though I won't hold my breath that this rare vestigial hint of old-school conservative fiscal restraint actually makes it into the Republican Party platform for next year.  Nevertheless, it's stunning to see this headline make it into National Review:

 

Enough with the Tax Cuts Already

 

https://www.nationalreview.com/2019/11/republican-tax-cut-proposals-long-term-budgetary-problems-must-be-fixed/

 

And quite frankly, it’s shocking that anyone is even thinking about tax cuts as a smart policy right now. (Politically, a brazen attempt to bribe voters makes more sense.) Our deficit has grown by a quarter since the 2018 fiscal year to hit nearly a trillion dollars in 2019, Baby Boomers are retiring, and the president has consistently said he has no intention of cutting the old-age entitlements that drive our spending. The 2017 tax law already addressed some major issues with corporate taxes and cut taxes for families and businesses alike, while adding maybe $1.5 trillion to the debt over ten years.

 

There are no doubt a lot of revenue-neutral reforms we could still make to the tax code, but tax cuts at this point would just add to the debt and hasten the day of our fiscal reckoning. We have a bunch of bills piling up. Let’s start paying them.

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Wow, that's pretty surprising. And refreshing. And I hope they find the writer's body.


"Now you're not naive enough to think we're living in a democracy, are you Buddy? It's the free market. And you're a part of it." -- Gordon Gekko.

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7 hours ago, Gramarye said:

The ship may be turning in conservative circles (a long-overdue course correction) on fiscal sanity, though I won't hold my breath that this rare vestigial hint of old-school conservative fiscal restraint actually makes it into the Republican Party platform for next year.  Nevertheless, it's stunning to see this headline make it into National Review:

 

Enough with the Tax Cuts Already

 

https://www.nationalreview.com/2019/11/republican-tax-cut-proposals-long-term-budgetary-problems-must-be-fixed/

 

And quite frankly, it’s shocking that anyone is even thinking about tax cuts as a smart policy right now. (Politically, a brazen attempt to bribe voters makes more sense.) Our deficit has grown by a quarter since the 2018 fiscal year to hit nearly a trillion dollars in 2019, Baby Boomers are retiring, and the president has consistently said he has no intention of cutting the old-age entitlements that drive our spending. The 2017 tax law already addressed some major issues with corporate taxes and cut taxes for families and businesses alike, while adding maybe $1.5 trillion to the debt over ten years.

 

There are no doubt a lot of revenue-neutral reforms we could still make to the tax code, but tax cuts at this point would just add to the debt and hasten the day of our fiscal reckoning. We have a bunch of bills piling up. Let’s start paying them.


There are a few republicans who are actually dedicated to fiscal conservatism...but pardon me if I don’t believe most of them. Unless a democrat becomes president that is.

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14 hours ago, Enginerd said:


There are a few republicans who are actually dedicated to fiscal conservatism...but pardon me if I don’t believe most of them. Unless a democrat becomes president that is.

 

Hah!  I didn't consider that angle.  This could be a protective piece in case Trump loses in 2020, as seems likely at the moment.  Then they can say that they were encouraging fiscal restraint even while he was still president.

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