mho.
Posted on 08/25/2016 4:08:47 AM PDT by expat_panama
Red Ink: The Congressional Budget Office says the federal deficit will be 33% higher than last year's. Over the long term, the deficit picture is just as bleak. But on campaign trail, this looming threat gets zero attention from either Hillary Clinton or Donald Trump.
The CBO's updated budget projections show that federal government's fiscal outlook has worsened considerably over the past year.
Red ink in fiscal year 2016, which ends on Sept. 30, will hit $590 billion. That's much worse than the CBO had expected just a few months ago...
...the CBO projects that in 10 years the annual deficit is on track to more than double...
...So what are Clinton and Trump proposing in the face of this increasingly dire outlook? They both want to add more debt.
Clinton's economic plan would, according to an analysis by the American Action Forum, would increase projected deficits by $2.2 trillion over the next decade...
...Clinton promises to expand both Social Security and Medicaid, while spending still more on ObamaCare insurance subsidies.
Trump isn't much better. Earlier this month, the Republican nominee told CNBC that if anything, the government should borrow more. "Interest rates are so low," he said, "that, yes, this is a time to borrow and to borrow long-term."
"Normally you would say you want to reduce your debt, and I like to reduce debt as much as anybody," he said. "The problem is, you have a military problem, you have an infrastructure problem — a tremendous infrastructure problem — and you have other problems."
But if Trump and Hillary have their way, the country will face another, far worse problem: runaway entitlements and growth-choking national debt.
(Excerpt) Read more at investors.com ...
mho.
Well, since the administration decided to pay for Iran’s nuclear weapons development and . . . .
Trump should just slash and burn the budget if he wants money for infrastructure and the military.
There’s a trillion a year to be saved, I would venture to say.
Quantitative Easing will take care of everything. LOL
On the Trump analysis, the CBO is not calculating the increase in production and new wealth that will also explode by eliminating regulations, (the associated costs plus increased wealth from greater exports/sales to other nations and), not the least of which would be in the energy sector. Cheaper energy for other nations would then increase their productivity and wealth and ability to purchase more products from us. . .and our increased wealth would in turn enable us to continue to purchase and import more from other nations.
where is Congress??????
Money doesn’t get appropriated without Congress!!!
oh did I even need to ask?????
just for the record, and not to stir up trouble, but how do you see the debt paid after the annual deficits become 0?
Where will the money come from?
He can’t promise to do that and get elected
a republican has to campaign like a democrat to get elected
And a democrat has to campaign like a republican
Has Yellen figured out how she is going to unwind the Fed’s ~$3 trillion in T-bills yet? Or the $1 trillion in MBS? Remember when Bernanke said the Fed would never monetize the US debt?! Ha, fooled you!
http://www.federalreserve.gov/releases/h41/current/h41.htm#h41tab1
We have to hold Congress responsible.
All while The Treasury is taking in record revenues.
Ex-journalist, flack Andrea Mitchell COULD report on it
but serves her husband, Obama and Clinton.
” where is Congress??????”
Holding each other hostage, no Money for Defense unless more money for socialism.
Building to an inevitable collapse of the fiscal system which leads, invariably, to war.
That is not how entitlements work, which is the problem.
> “But on campaign trail, this looming threat gets zero attention from either Hillary Clinton or Donald Trump.”
The writers are ignorant. Donald Trump has drawn attention to the exploding deficits each time he talks about the economy and government spending. And he talks about these things frequently.
Because the writers ignore this well-known fact, the rest of what they write holds no informational value. They are simply fishing for a sensational headline that fits the name of their brand. And it doesn’t work because they haven’t completed their homework.
Well, as Josh The Lying Scumbag Earnest said yesterday, this is a problem for the next President to deal with.
Also, let’s thank Paul Ryan and Mitch McConnell, who rammed through Continuing Resolutions and gave Obama all that he wanted. did they really think that after eight years, he was going to spend the money wisely—THIS time?
For eight years the wealth of America has been looted.
And Congress was in on it.
Trump is the only hope that we have to grow the economy to generate revenues to fix this.
Hillary will only make it worse.
Then we will get to the point where you will be trading in your green dollars for equally worthless but inflated blue dollars, in a vain attempt to start over.
Good questions all!!! Id love to hear the answer. Perhaps itll sound like this: Oh, we allocated those monies for use at the discresion of the various agencies. IOW Congress has decided to turn the autopilot on and have a long rest.
You can say That again !
you are correct—
I was just at a party- (lot of Dims in the room)
Favorite topic??- how George Bush Ruined everything-
So.... I am listening to these dip__sh__ts talk nonsense-
And of course they talk about the WARS of Bush- and
HOW MUCH HE SPENT-
NOT one person KNEW what the Debt was when Bush left office-
Not one person knew what the current debt is -
Not one person knew O’bummer just authorized more troops
into Iraq-
Not one person knew the amount of soldiers killed in
Afghanistan (Bush vs Obummer)
Actually All pretty ignorant.... but we were drinking wine and Craft beer! so let the party continue-
We are so screwed
And it is the MSM that perpetuates this ignorance- for the
demonrat party
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