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Treasury Dept.: The real deficit is twice as big and getting worse
Conservative Review ^ | Feb 23, 2018 | Daniel Horowitz

Posted on 02/23/2018 10:03:09 AM PST by huldah1776

The largest financial institution in the world – the U.S. government – issued its financial statement just a few days ago, and nobody in Washington seems to care that the deficit is almost twice as large as they once thought.

snip

In substance-free Washington, the release of the annual financial statements of the U.S. government isn’t a big deal, but it should be. The statements demonstrate that we have gone backward, not forward, with Republicans in charge of all branches of government. According to the annual financial report of the U.S. government published by the Treasury Department, the real deficit for fiscal year 2017 was $1.2 trillion, almost double the official estimate of $666 billion.

snip

Overall, the budget deficit grew by $78.3 billion and the net operating cost grew by $105 billion in fiscal year 2017 as compared to fiscal year 2016. This means that the deficit grew by 13.3 percent when Republicans controlled all of government as compared to Obama’s final year. And this is with the economy humming. It’s the untold story of the first year in office you won’t hear from all those at CPAC, including Vice President Pence, fawning over the vibrancy of the conservative movement.

The worst element of our budget is health care. It accounts for 24 percent of our costs, dwarfing even the cost of the military and surpassing the cost of Social Security.

(Excerpt) Read more at conservativereview.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Government
KEYWORDS: debt; deficit; healthcare; traitors; usdebt
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hmmm. remember when bush2 and congress spent more and didn't get a dang thing done? Still murdering the innocent pre-born. Well, you get what you ask for.
1 posted on 02/23/2018 10:03:09 AM PST by huldah1776
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To: huldah1776

How long before interest payments are as much as yearly tax receipts?


2 posted on 02/23/2018 10:11:12 AM PST by circlecity
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To: huldah1776

We have a Federal Reserve that can print paper money, manipulate interest rates and even monetize debt as needed. And so far, the world must still take our US Dollar.

Under those conditions, why should the American public or any politician, bother to show any restraint or sacrifice on any of our wonderful progressive social-engineering schemes?


3 posted on 02/23/2018 10:11:40 AM PST by PGR88
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To: circlecity

Exactly.

An oldie but goodie:
https://www.youtube.com/watch?v=TlN28DoL5qA


4 posted on 02/23/2018 10:12:35 AM PST by robroys woman (So you're not confused, I'm male.)
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To: circlecity
How long before interest payments are as much as yearly tax receipts?

A day before hyperinflation begins. Which is roughly 6 months prior to civil war.

5 posted on 02/23/2018 10:13:49 AM PST by rjsimmon (The Tree of Liberty Thirsts)
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To: huldah1776

I’m sure Democrats and Republicans alike will insist on cutting spending to fix this problem.


6 posted on 02/23/2018 10:15:57 AM PST by SaxxonWoods (DACA is going to be a riot!)
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To: circlecity

How soon do interest rates go up? It all depends on when the confidence cracks.


7 posted on 02/23/2018 10:16:09 AM PST by zek157
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To: rjsimmon

You give the freeshit army that long? Along the way we will see a failure to refresh EBT cards and the fun begins. Still, agree with your premise.


8 posted on 02/23/2018 10:18:38 AM PST by zek157
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To: zek157
How soon do interest rates go up? It all depends on when the confidence cracks.

The next FOMC meeting is March 20-21. Could be then.

9 posted on 02/23/2018 10:20:38 AM PST by DoodleDawg
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To: zek157
You give the freeshit army that long?

I figure they will be at each others throats for a good 3-4 months. After the dust settles in the inner cities, the more civilized folk will take to shooting one another.

10 posted on 02/23/2018 10:21:08 AM PST by rjsimmon (The Tree of Liberty Thirsts)
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To: huldah1776

Far more simple than that, just close all public schools nothing important is really being taught there any way.


11 posted on 02/23/2018 10:28:50 AM PST by Kartographer ("We mutually pledge to each other opleoour lives, our fortunes and our sacred honor.")
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To: rjsimmon

I understand what you are saying, but I think it goes deflationary pop, not hyper-inflation. And a deflationary pop will be much worst.


12 posted on 02/23/2018 10:29:36 AM PST by fatez (Ya, well, you know, that's just your opinion man...)
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To: PGR88

“Under those conditions, why should the American public or any politician, bother to show any restraint or sacrifice on any of our wonderful progressive social-engineering schemes?”

Because at the end of the day, even the US Government can’t defy financial gravity forever! The time is not far off where the piper must be paid.


13 posted on 02/23/2018 11:08:44 AM PST by vette6387
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To: huldah1776

National debt = Neutron bomb on route to our country in a NK rocket. Everything seems fine, until it hits.


14 posted on 02/23/2018 11:11:28 AM PST by entropy12 (30 Million low wealth, low skill LEGAL chain migrants in 25 years is 60 times worse than DACA)
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To: fatez

Either way its going to be nasty. But if you go back and look at history, it always begins with hyperinflation.

The Wiemar Republic is a classic example. They could not pay the debt.


15 posted on 02/23/2018 11:12:41 AM PST by crz
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To: vette6387
The time is not far off where the piper must be paid.

Try using that as a campaign slogan when MSNBC accuses you of racism and wanting to kill grandma

16 posted on 02/23/2018 11:13:02 AM PST by PGR88
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To: huldah1776

In Obama’s first year the deficit was attributed to Bush. Now in Trump’s first year it belongs to the sitting president. What gives?


17 posted on 02/23/2018 11:19:57 AM PST by Lurkina.n.Learnin (Wisdom and education are different things. Don't confuse them.)
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To: Lurkina.n.Learnin
'In Obama’s first year the deficit was attributed to Bush. Now in Trump’s first year it belongs to the sitting president. What gives?'

Does it really matter? Didn't Obama get alot of his 'spending' from the gop congress?


18 posted on 02/23/2018 11:47:09 AM PST by Theoria (I should never have surrendered. I should have fought until I was the last man alive)
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To: huldah1776

“the deficit grew by 13.3 percent when Republicans controlled all of government as compared to Obama’s final year. And this is with the economy humming.”

Anyone who thinks most Repuke officials are for smaller government are in denial. There are a number of small government Rs, particularly in the House, but they are a minority of the Republican Senate and House delegations. And heaven forbid if we have “infrastructure” and other “stimulus” programs.


19 posted on 02/23/2018 12:02:37 PM PST by SharpRightTurn (Chuck Schumer--giving pond scum everywhere a bad name.)
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To: DoodleDawg

The Fed will move heavan and earth to keep rates low because if they start to go up the problem becomes unmanageable...


20 posted on 02/23/2018 3:02:08 PM PST by Kozak (DIVERSITY+PROXIMITY=CONFLICT)
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