>When the next recession blows in, it will likely balloon the U.S. government deficit up to $2 trillion a year. >The Obama administration took eight years to run up a $10 trillion debt after the 2008 recession. It might take just five years after the next recession to amass the next $10 trillion. >And on top of the $1.3 trillion deficit that this chart predicts, you can add the more than $500 billion in off-budget debt that I mentioned above, plus higher interest rate expense as rates rise. >By the early to mid 2020s, barring substantial increases in taxes or reductions in government benefits and entitlements, the deficit will be approaching $2 trillion annually. There will be weeping and wailing and gnashing of teeth. >If you are in the top 25% of income earners in the United States, you have a big target painted on your income and wealth. The imposition of a VAT seems almost guaranteed. That is the only real way to boost revenues to offset the increases in entitlement spending. >The Republicans don’t want to impose a VAT now as part of major tax reform. But a future Democratic administration and congressional majority will.
VAT tax is fucking political suicide. No way they would do it.
Logan Moore
honestly tho that chart u posted is for real
America has huge fucking deficit projections in the 2020s and 2030s
Trump's tax cuts would literally cripple America. It's what I've been saying for months.
Luke Barnes
They will get burried mainly by entitlements being spent on retiring boomers and benefits being payed to anyone that is even remotely army related.
Tax cuts or not.
Aiden Barnes
Tax cuts gut revenues.
That's what Republicans don't understand and why they can't be trusted with money.
Aaron Campbell
Correlating budget deficits with tax cuts, such as your graphic does, isn't fool proof.
You don't happen to mention that the federal debt nearly doubled from $10 trillion to $20 trillion under Obama.
Federal spending needs to come down, overall. From military to medicaid, shit needs to shrink.
Wyatt Sanchez
1. Obama reduced the budget deficit by 2/3
Something no Republican knows how to do.
John Cook
2. Obama was the slowest spender in 80 years.
Elijah Smith
3. The debt still went up because Obama inherited the worst Republican Recession since the Great Republican depression and the costs of Bush's wars, fuckups, tax cuts and recession don't magically stop as soon as he leaves office.
Tax cuts hurt revenue in the first year. They help the economy in the long run and increase revenue.
Jonathan Ortiz
Neck yourself faggot. You're using deceptive tactics to ignore the fact that Obama created more debt than all the previous presidents combined.
Adam Smith
wrong Like the Bush tax cuts helped the US economy in the long run? Like in 2008? Are you fucking retarded?
Cameron Martinez
>Obama created more debt than all the previous presidents combined
Obama didn't do that. You're thinking of Reagan.
Jaxson Gonzalez
Just realized this thread is just 2 people coordinating with each other.
Jordan Edwards
The debt was 10 trillion and went to 20 under obama. Reagan added billions not trillions to the debt.
David Sullivan
Lol every 1 of those points is wrong.
Obama reduced the budget DEFICIT (not debt) by 2/3 and was the slowest spender in 80 years so tell me retard in your own words, why did the debt go up?
Joseph Richardson
OP, give me your PIN number for the ATM machine.
Jonathan Rodriguez
Thank God Obama had a Republican Congress to make sure he didn't triple spending
Benjamin Brooks
You cut programs. Then you make tax cuts.
Jason King
Yet Trump and the GOP are about to explode the budget deficit with more retarded tax cuts for the rich.
Michael Ramirez
Yes. Here's what Republicans actually do. Cut taxes. then don't cut programs. In fact, they end up spending tons on military and wars.
Jackson Torres
holy shit you dont have VAT yet? lucky bastards...
Tyler Butler
That will just be another part of the road to collapse. It's so obvious that the whole thing is going to fall apart.
Oliver Thompson
it is just money. Just print more, your inflation is not high enough anyway.
David Long
Haha percentage faggot now show actual numbers. Who is paying you to shill here out of curiosity
William Wood
No you disingenuous Cunt, no one cuts programs. No one. Don't phrase it like democrats do
Michael Powell
Looks like a kike trick using a seldom used metric to make it appear Obama didn't spend a lot of money. You couldn't explain how that metric is relevant if you tried.
Jordan Diaz
So maybe Republicans shouldn't cut taxes for the rich and explode the deficit. Like they do every fucking time.
Brody Cox
He reduced the budget deficit after he spent insane amounts of money the first year. If he hadn't reduced from first year levels this country would be bankrupt. I know the difference between debt and deficit. I said debt. Obama fucking doubled it. No jew banker analytics can change that fact.
Austin Price
Obama inherited a $1.4 TRILLION budget deficit from Bush and reduced it by 2/3
You came in here with 20 different graphics yourself. Who is paying you?
Ryan Bennett
some states have no sales tax at all
Alexander Sanders
>20
David Hall
We'll I guess we should follow the Obama model where welfare recipients increased, the economy grew slower than the population rose, and our debt doubled. Looks like that tax increase on corporations and upper middle class really worked.
John Reed
or even income tax.. like florida
but when a hurricane hits.. they want insta gibs
Ayden Williams
I know you're waiting to post more.
Daniel Barnes
they make it up in other places anyways
Nathan Hernandez
Obama added a 787 billion dollar stimulus package to the 2009 budget.
Isaiah Watson
still VAT is probably the least popular tax they could impose
Julian Green
Clinton also had a Republican congress that slashed budget and the dot-com bubble that fed extra money into the IRS.
All of that of course blew up around the time Bush got elected.
Jordan Flores
It's almost as if the political parties are only anti-spending when it comes to defending initiatives of their political rivals?
Jaxon Bennett
No he didn't, he added about $200B in FY09.
Didn't u read the CBO report?
>CBO projects that the deficit this year will total $1.2 trillion, or 8.3 percent of GDP. Enactment of an economic stimulus package would add to that deficit.
And perhaps Democrats shouldn't create and expand new expensive programs that can't be funded. Like they do every time.
Oliver Edwards
Republicans had nothing to do wiht the Clinton surplus. It was Clinton's 1993 tax hikes on the rich that led to the surplus. Republicans pissed away Clinton's surplus the moment they got the chance.
Cameron Rivera
>All of that of course blew up around the time Bush got elected.
WRONG
Asher Nelson
>10 trillion debt under obama i wonder how much of it were due to bailing out the banks under bush right before obama took office
Hunter Jenkins
If they did the reps wouldnt repeal it either, just like ObongoCare
Repealing mortgage tax breaks will be big for them too since millenials, cat ladies and niggers dont own homes and fuck white people
Blake Taylor
Why is this article assuming we will have a catastrophic recession next year?
Brayden Johnson
>but when a hurricane hits.. they want insta gibs
Or perhaps they simply want the federal government to return the money taken from their citizens.
Jose Peterson
Just looked up the annual deficit numbers myself. Obama had several years in the trillions, he never went below a 400 billion dollar deficit. Bush's highest deficit year was barely more than Obama's lowest year. Obama's second year in office was in the Trillions, and just as big as his first year. That budget was entirely made by democrats. Bush was a terrible over spender but Obama puts him to shame.
Bentley Brown
because drumpf
Carter Anderson
There doesn't appear to be an explanation does there?
Luke Torres
Bush's highest deficit was the $1.4 TRILLION he left Obama, not to mention the economy on the brink of another Great Republican Depression.
Dominic Martin
If this article is written by someone intelligent, it's because its becoming common knowledge that the entire economy is afloat on nothing but finical gains (stocks, bonds, and other speculator markets) while the real economy lags in the shitter. It's only a matter of time before the giant Stock bubble pops and triggers the next recession.
Mason Smith
The stimulus package was 787 billion. It was signed in to law by Obama. He added that to the 2009 budget fucktard.
Brody Walker
>i wonder how much of it were due to bailing out the banks under bush right before obama took office Actually the recession was a direct result of Clinton repealing Glass Steagall en.wikipedia.org/wiki/Glass–Steagall_legislation
Nathan Lee
Ah yes, the classic misdirection of deficits instead of debt, and the retarded Keynesian fallacy that if you tether your debt to GDP the ever expanding number will somehow become meaningless.
Adam Baker
The stimulus was spread over 10 years you fucking retard.
Did u even read the CBO report?
>CBO projects that the deficit this year will total $1.2 trillion, or 8.3 percent of GDP. Enactment of an economic stimulus package would add to that deficit.
The deficit fell in real numbers as well as % of GDP
Josiah King
Half of the 2009 spending was Obama's. He had a bloated budget with no revenue because of a housing market bubble crash, and he piled massive spending on top of that budget. The second year he spent just as much. You're then calling the over spending every subsequent year an achievement because it wasn't quite as bad as his previous years. There's no reason the budget shouldn't have gone down to pre recession levels after the second year but it never got that low the entire presidency. Show a fucking graph that includes deficits of both presidents through their presidency.
Andrew Parker
deporting immigrants and children is more important to drumpf and to that bigot jeff sessions then the fucking economy... who knew kicking out the productive members of society would trigger a recession?
Carter Perez
if we slashed government entitlements, we wouldn't have spending problems
Logan Murphy
>Half of the 2009 spending was Obama's.
That's not true. You just made that up. You're literally retarded.
I'm spoon feeding you the CBO report from Jan 9th when Bush was president but you're too fucking retarded.
Did u even read the CBO report?
>CBO projects that the deficit this year will total $1.2 trillion, or 8.3 percent of GDP. Enactment of an economic stimulus package would add to that deficit.
>he cut the deficit after it was inflated to epic proportions following one of the largest financial crashes of all time
wow, what a fucking brilliant amazing job
Tyler Sullivan
And oh yea Obama did nothing to put the Glass Steagall protections back and the (((FED))) used quantitative easing to buy up the debt and faulty loans those banks had incurred through their predatory practices by using your tax dollars en.wikipedia.org/wiki/Quantitative_easing#US_QE1.2C_QE2.2C_and_QE3
Bentley Morgan
thanks to the republicans and their birther shit and hes muslim
Kayden Robinson
Yep Republicans crash the economy and Democrats put it back together. That's how it works.
Logan Powell
also see
Christopher Thompson
GDP was above 3% the economy got hit because of the housing market collapse.
Dominic Allen
WHY DON'T YOU GO COMMIT REAL SUICIDE, FUCKING PATHETIC ASS FAKE ASS LeAF ASS BITCH ASS BITCH
Luis Wilson
The arrows are there to influence the stupid, but you'll notice that Obama years are all more than Bush years in all but one year. All you are arguing is that there's an arrow on the graph. The graph still shows Obama with a higher deficit than bush in nearly every year of their presidencies.
Anthony Jones
>inherited republican wars >defecit is high its almost like theres a correlation
Isaiah Mitchell
Keep in mind that this looks good if it's debt, but it's not debt, it's deficit. It doesn't matter what direction you make the arrow go unless it's debt. Every year of Obama's presidency the debt rose more than all but one of the bush years.
Landon Watson
>in all but one year.
lol this might be the most retarded right wing retard of all time
Bush handed Obama a $1.4 TRILLION budget deficit and an economy collapsing and on the brink of a 2nd Great Republican Depression.
Obama doesn't get to just get to reset and go back to Clinton's surplus in 2000. Right wing retards are too young and dumb to even know what happened in 2008. What a bunch of teenage autists.
you don't understand the word 'economy'. It's not just jobs. Dems lower unemployment. Reps raise productivity. Both ideologies are incomplete.
Jaxon Bailey
a bloo bloo
Aaron Foster
I didn't ask for your IQ
Logan Murphy
Autism leaf is too retarded to know the economy will fix itself with no help from the government
David Diaz
CBO is always wrong
Blake Wright
raising productivity by making one person do the work of 3 people while cutting benefits and stagnant wages is more productive
Luis Cooper
this retarded thinking is how right wing retards turn recessions into great depressions
Aiden Thomas
fugg... drumpf kinda looks liks hoover
Evan Ortiz
lol
Kevin Rodriguez
look its the obamaleaf who disappears when he gets btfo
Connor Barnes
wat
Jason Powell
laff now till we drag you into ww3
Charles Hall
>Reps raise productivity.
no they don't
jobs and wages are what matter
Ian Ortiz
Who cares about the deficit? The government is not there to make a profit. As long as the government can create the currency it is literally impossible to go bankrupt. Up government spending, remove the retarded debt ceiling and invest in infrastructure.
Benjamin Clark
>the great depression had no influence from the government Top quality lel
Charles Rivera
nigger youve been here the last 2 years with the same shitty graphs sucking obamacock every time you come around
Jacob Baker
>What is inflation? The graph.
Gavin Anderson
Yeah 12 straight years of Republican rule from 1921 to 1933. They had control of the House, Senate and presidency. Throw in the Supreme Court too.
Hudson Ortiz
>the amount of people under the assumption that the president has a ridiculous and/or immediate effect on the economy >glass Steagall repeal caused the recession Fucking kill yourselves morons, jesus christ
Benjamin Bennett
>republican control means no government interference All these years obama leaf and you only get more retarded every time we talk
