Posted on 09/14/2018 7:29:37 PM PDT by cba123
“No, I’m looking at budget deficit numbers from August 2018.”
Yes, you’ve cherry-picked one year and conflated that to your silly argument that the gov “pays no attention” to revenue. Again, Obama did that, but in the 90’s the budget was 1.6 trillion and they took in about 1.6 trillion. Now the budget is 4 trillion...by your “logic” the gov could have spent 4 trillion in 1997.
“During the past 12 months I know Russia has significantly scaled down their holding of US debt, and China is moderately less.”
Very good.
“U.S. government posts $214 billion deficit in August. WASHINGTON (Reuters) - The U.S. government had a $214 billion budget deficit in August, almost double the amount for the same period last year as outlays swelled, according to Treasury Department data released on Thursday.4 days ago”
Thanks for making my point! The gov gets less money from treasuries and the deficit goes up. Eventually the budget will have to mirror revenues, it historically always has, even if it’s in deficit.
If what your saying is true, why not spend 10 trillion dollars this year?
“I have no idea why you would want to delude yourself, or other people reading this forum.”
You’re not deluded, just uneducated.
“But nice try anyway.”
Lame.
Whoa! Where do you get your instruction from, the Alexandria Oscio-Cortez school for the learning disabled?
Sister, I have neither the time nor the inclination to educate you on economics. Or how to interpret data for that matter.
Please - educate yourself. You’re showing yourself to be naive and uninformed, and that is no way to go through life.
But take heart and remember that ignorance is not a sin - staying that way is...
Hope that helps and good luck!
“Sister, I have neither the time nor the inclination to educate you on economics. Or how to interpret data for that matter.”
You couldn’t educate a bull out of a wet paper bag:
“Debt-laden US government is expanding the size of Treasury bond auctions to fund itself.”
——Meanwhile, we are running the worst trade deficit in recorded history, with China, right now——
The trade imbalance is neither good nor bad.
A high trade imbalance is a reflection of purchases by American citizens buying Chinese exports.
It can be argued that the increase is the result of increased American prosperity. As a result of various changes wrought by President Trump, Americaans have more money to spend. They spent some of it on Chinese products.
The increase in the trade imbalance with China is the direct result of the positive actions of President trump that resulted in a booming American economy
It sounds like you are an importer, from China.
Right?
Buy American.
No, I have no business or other connections with China.
I have purchased empty ink cartridges and small washbottles on ebay that were shipped direct from Hong kong.
If trade gets “out of balance” in a material way, the respective currencies should make an adjustment on their own (via market forces), should they not?
Other things being equal of course, such as relative interest rates staying constant.
There are other things to consider imo, such as national security. For example, while we could produce rare earth metals we do not (environmental laws). Therefore China controls almost all the world’s production of rare earths.
Our sophisticated military aircraft requires REM to operate as designed. Therefore is is not in our own interest to allow another country that kind of leverage on us. Smart phones, smart TV’s, etc have become staples to live the modern life in the USA, and they also require REMs.
Steel and aluminum are some others.
My point is that, other than products necessary to national security, the best thing is to let the markets sort out the imbalances.
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