Trump: $1.5 Trillion

>The House bill, which is estimated to increase the federal deficit by nearly $1.5 trillion over 10 years...

Other urls found in this thread:

businessinsider.com/national-debt-deficit-added-under-president-barack-obama-2017-1
cbo.gov/topics/budget
econographics.files.wordpress.com/2012/10/global-defense-spending.jpg
cbsnews.com/news/obama-says-it-again-no-ground-troops-in-iraq/
newyorker.com/news/john-cassidy/obamas-economic-record-an-assessment
twitter.com/SFWRedditGifs

Over 10 years? Damn thats low.

Orrin Hatch just attached an Obama repeal to it meaning Collins, Murkowski and McCarthy n are now confirmed to be voting against it

NOOOOO. That was my money. I voted to have it stolen like a good commie. Why is this happening?

yeah.. that's not too bad. the national debt right now is like $20 trillion.

Nothing is more populist than giving corporations and the ultra rich a tax break paid for by increasing the national debt!
X

See
Bill is dead anyway. Looks like yet another loss in the Senate for Don

Obama also bankrupt the DNC.

It's almost poetic

>what is deficit
>what is total debt

Obama had it easy. The deficit started out around $1 trillion because of the crash+Bush stimulus checks. He was able to keep deficit spending but "get credit" for trimming down the yearly deficit, with part of the cut being the sequestration the GOP passed.

Obama doubles national debt yet lowers deficit by 324 billion.

hurr durr these numbers aren't deceptive at all - Leftypol, probably

My thoughts exactly. That's only $150 billion per year.

Under Obama the deficit increased by an average of $1,109 billion per year.
>businessinsider.com/national-debt-deficit-added-under-president-barack-obama-2017-1
The fiscal year 2017 estimated deficit is $693 billion.
>cbo.gov/topics/budget

Even with this tax cut, the deficit is smaller than it was under Obama before accounting for the much-promised growth the cuts will supposedly bring.

Now if we could just get Congress to downsize the fucking military...

The idea is that economic growth will offset the tax losses, something which isn't fully considered by those doing the estimates.

Also, that graph is a poor metric. I could crank the defit up to 10,000% for 7 years and drop it down to 0 on the last and I will have drastically dropped the deficit according to that chart.

A more reliable metric would be using the debt rather than the deficit, or doing the average deficit throughout the presidency.

Uh, what? The deficit at the end of Bush's term was about $10 trillion, up from about $1 trillion at the end of Clinton's term. Obama nearly doubled the deficit.

I've been complaining about this recklessness since I was 13.

This graph is incredibly misleading. I looked up and saw Rachel Maddow show and instantly was like "k"

But the source is her blog!

Thats 1.5 trill for ONE policy.
Tacked on to everything else you retards. Thats tremendous.

>letting people keep their money? but think of ll the debt we'd rack up
Spend less
>but muh gibbs!

That's $150 billion for ONE policy, sonny. Tacked onto everything else, that's $266 billion LESS than just last year.

1,5 Trillion $ in 10 years are clearly worse than 12 Trillion that Obama lost.

>one policy!
>Major tax reform bill

Well atleast he ain't no damn dang nigger!!!

It can't be that hard to go look at the records and simply duplicate the policies and methods of this administration. It's clear at this point D.C. is simply ignoring logic for their own benefit.

Lmao, it's not even going to pass

>sourced from Rachel Maddow

>Recklessness

I've got bad news for you. They know full well what they're doing.

Just magic up another internet boom of the 90s!

>economic growth will offset the tax losses
a tax cut has never paid for itself in the history of tax cuts.
That's something not fully considered by people willing to believe anything.

>ONE policy
>tax reform
Yeah, just that tiny little policy in which every single fucking persons' taxes change.

Really? Guess we better keep taxing people out the ass or even increase everyone's rates!

Yeah was thinking the same thing. Obongo drums added more to the debt then every other President combined since our founding, so that doesn't sound like a lot at all

>what is the dot com bubble
You'd also have to entirely gut military spending like Clinton did.
>inb4 das a good ting!
No, it isn't. The DoD should sure as shit spend their money more efficiently, but cutting defense funding is not a good idea if the US wants to maintain their global standing.

It won't pass, they won't have enough votes in the Senate.

It also doesn't make one bit of difference to the economy.

If anything there is nothing wrong with the existing code and screwing with it can have big unforseen consequences.

No way they should be fucking with 401k and Roth IRA either.

Probably. Congress is the goddamned worst. If democracy dies in this country it will certainly be to the sound of thunderous applause, if only because people will be cheering the death of Senator Scumbag Steve.

> It has never worked
> LMAO just do it anyway
Trump Cultists, everyone

I'll grant you that particular circumstance...although grossly oversimplified.

Are you familiar with the country of Ireland and its corporate tax cut? Because it did exactly what you said has never happened

How many times did we have this meme?
>what is congessional control
>The president votes on the budgets

BUT BUT IT'S OK BECAUSE AN R IS IN THE WHITE HOUSE

The new tax code is fine, the problem is the benefits are way way below what was promised to the point they're almost laughable

Friendly reminder that the majority of cuts to the military budget are taken on by the soldiers in the form of reduced pensions, health-care coverage, and other benefits once they're out of active service. Jews selling the weapons aren't going to start charging less and there's no way the top dogs are going to take a cut for the infantry's sake

>Orrin Hatch just attached an Obama repeal to it meaning Collins, Murkowski and McCarthy n are now confirmed to be voting against it

Don't forget Ron Johnson.

>It also doesn't make one bit of difference to the economy.
Eh, the average American spends their entire monthly income each month, albeit a small amount of that spending is on retirement. Any tax decrease on them puts a non-zero amount of dollars per person into the economy, less a proportion of money spent on buying imports.

I love how Trump is going to get Jack shit done. And if the dems get the house in 18 the next 2 years will be total gridlock. Any chance Trump had to accomplish anything is pretty much over. He did nothing

econographics.files.wordpress.com/2012/10/global-defense-spending.jpg
Way overcompensating...it's as if we the U.S. has a micro-penis and has no confidence in their diplomacy.

>If anything there is nothing wrong with the existing code
Retard.

Which is dirtbaggery at its finest. We should have done a 1930's style cut in the 1990s. We'dve had a huge surplus by now.

>Eh, the average American spends their entire monthly income each month,

m8 comparing a household family to the US government that can control how much money we have and only have debt to ourselves is not the same thing.

Oh and Rand Paul. Jesus. They are t even close. This may not even get a floor vote.

Hey Trump fabs: Why can't Trump get anything passed?

debt =/= budget deficit
you need to lower the deficit and increase government revenues in order to payback the debt. Increasing the deficit and lowering government revenues by cutting taxes is going to do the opposite of what you claim and will increase the overall national debt. But then again, it is hard for a nimble dumb fuck to understand that

no one cares anymore, do you really think we are paying it back lmao nigger

>I don't know shit about shit
>Hurr durr you got a small dick
Liberals, everyone.

You spelled Mitch McConnell wrong.

Not if we cut borrowing and then cut programs. Your math is only based on all the shit programs and handout persisting. They won't.

t. increasingly nervous and morbidly obese shartblue shill

WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)
>WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)

WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)
>WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)

WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)
>WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)

WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)
>WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)

WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)
>WE MUST DEMAND MITCH MCONNEL TO CONVENE EMERGENCY SESSION OF SENATE TO EXPEL AL FRANKEN IMMEDIATELY (LIKE HE WANTS TO DO TO ROY MOORE)

Reagan/Bush - Hard men create good times
Clinton 1st term- Good times create weak men
Clinton 2nd term- Weak men Create bad times
Bush 1st term - Bad times create hard men
Bush 2nd term - Hard men create good times
Obama 1st term - Good times create weak men
Obama 2nd term - Weak men Create bad times

Fuck off boomer

isnt there trillions in tax collected every year?
and you are arguing over a decade?

What? No. That was not a comparison I was making. Why would you think that?

Federal tax cuts = less Federal withholding in pay checks = more money spent per month by wage earners. It's a small amount, but it's non-zero. Because most wage earners spend their entire pay check every month, the tax cut increases demand by a non-zero amount.

>What is the great recession?

>He thinks Republicans are going to cut Social Security, Medicare, Medicaid
HAHAHAHAHAHAHAHAHHA

I have literally never heard anything positive about Trump since he was elected.
Just admit it Sup Forums... you were wrong...

This only increases debt if GDP remains at the current rate. People shouldn't regurgitate news if they don't understand that it's misleading.

>country of Ireland
gee that should help.

He can't get anything done because the Republicans ran on lies, and will be primaries for it. One of the reasons I voted for Trump was to illustrate this and then catalyze that process. Working as intended.

Sure thing ,you bigger faggot.
No Obama care repeal, no tariffs, Senate won't vote for a budget with a wall in it. ALL of these are verifiable facts but I'm the shill for not sucking off that impotent lard ass in the WH.
When is Hillary's trial again? Any day now, right?

I've been watching and wondering if the GOP is going to be forcibly transformed as a result of Trump's election. McConnell and Ryan sure seem to be helping that along.

>MUH DEFICIT!
>Obongo proceeds to add 10+ trillion dollars to the debt, over twice as much as ALL the sum of the presidents before him

What is a 'change to deficit'? Bush pissed away money and grew the national debt by 75% during his presidency, but at least he had the excuse of fighting a large-scale war. It more than doubled under OBama.

Like the pedophile Bannon ran in Alabama.

Until we get rid of the two parties we will never see change.

>obama
>reduce deficit
in which timeline is it

isnt there trillions in tax collected every year?
and you are arguing over a decade?

>but at least he had the excuse of fighting a large-scale war.

>this makes it ok

he reduced the rate at which the deficit was increasing

you mean to tell me he spent more than presidents that presided over a country where movie tickets were 12 cents?

1st war in Afghanistan was provoked and we had every right to fight that war.
2nd war in Iraq was a waste of human life and money.

Under Obama nothing changed.

I would love to see you arm chair economists cut through the biggest recession in a century better than "obongo" did. I am waiting for you to point that out in details and numbers. Not just throwing large numbers and expecting others to just say omg you are so fucking brilliant with economy.

Obama got us involved in wars in Syria, Yemen, Somalia, and Libya. He decreased then increased our involvement in Afghanistan, Pakistan, and Iraq.

I'll never stop giving him shit for his handwringing over the Yazidi genocide.
>Oh no, I don't have authorization to intervene in Iraq!
>Are them Yazidis dead yet?
>Oh, wow, I actually do have authorization in intervene in Iraq!
>And Syria, too! But don't worry, I won't send any ground forces.
>I sent ground forces, heh.

There's no point in doing it other than a legislative victory.

Fucking with 401ks is never a good idea either.

He can't control individuals in Congress who don't like him, Rand Paul would vote the way he does regardless of who is in the White House and McCain will vote against everything just to spite the President.

Goverment deficits is caused by congress failing to convince it's citizens that you can maintain low taxes with a great, cheap healthcare, great infrastructure, great military(and benefits) with SSecurity and Medicare/Medicaid.

People are very naive, therefore, Congress needs to keep up the lie, and basically bankrupt us within the next 100 years.

I did not appreciatr Trump introducing an 80 billion increase in military spending, I would rather set up treaties with other nations and pay it off like that.

Example?
Japan, it costs X billion dollars to maintain our bases, pay the US that amount, or lower, but better trade deals. No? Build your own fucking bases and enjoy spending your "surplus" in that.

Especially Europe, they bitch and moan that US is all over the world, but when it's time to put up or shut up, they always cry for support. Literal Children.

I hope Trump has common sense to sacrifice a bit of national security for actual economic freedom.

The other "superpower" Russia or regionalpower like China are on the defensive and building up their governments and properties to make sure they won't get choked by US interests.


The tax on incoming money from offshore accounts is a beautiful thing. $32 trillion dollars @ 10%? $3.2 TRILLIONS DOLLARS FOR INFRASTRUCTURE AND MAKING AMERICA INDEPENDENT AND GREAT AGAIN

cbsnews.com/news/obama-says-it-again-no-ground-troops-in-iraq/

>A year later 3 divisions are in Iraq fighting

tl;dr lol. you are mad, shartblue idiot.

>mfw donald trump is your president and there isn't SHIT you can do about it for 7+ years

Those most definitely are not getting fucked with. The midterms are right around the corner, and the 2020 election isn't terribly far off after that. Republicans are not going to want to give the democrats ammo to claim that old white people are getting fucked by the right. Looking at raw numbers, the 2016 election was fucking close in a lot of states, if the democrats can suppress even a minor amount of potential repub voters from going out to vote, they could see positive results.

>newyorker.com/news/john-cassidy/obamas-economic-record-an-assessment

>Obama’s policies helped lift the economy out of a frightening slump and set it on a path to steady, if unspectacular, growth.
>The Federal Reserve, the Federal Deposit Insurance Corporation, and Hank Paulson, President Bush’s Treasury Secretary, all played key roles in quelling the panic. But the Obama Administration finished the job, continuing the crisis measures that had been introduced, pushing through the rescue of the auto industry that Paulson had set in motion, and carrying out a set of stress tests that restored confidence in the big banks.
>Citing figures like these, Obama’s critics claim that this has been the weakest recovery since the Second World War.
>In addition, if you look at employment rather than at G.D.P., the Obama recovery looks much stronger. Since the start of 2010, the U.S. economy has created about 2.4 million jobs per year. During the Bush recovery of 2002-2007, annual job growth was just 1.2 million. In terms of jobs, the Obama recovery compares with the Clinton recovery, of the nineteen-nineties, when approximately 2.8 million jobs were created each year.
>To be sure, there are legitimate questions to be raised about the quality of these new jobs. Many are either in service industries that pay low wages, such as personal care and hospitality, or they are temporary positions.
>Since December, 2007, the peak of the last business cycle, real hourly wage growth “has averaged 0.8 percent a year, the fastest growth of any business cycle (measured peak-to-peak) since the 1970s,” according to Furman’s recent memo.
>Since December, 2007, the peak of the last business cycle, real hourly wage growth “has averaged 0.8 percent a year, the fastest growth of any business cycle (measured peak-to-peak) since the 1970s,” according to Furman’s recent memo.

I realize that, just the redditors itt don't

>create health insurance tax scheme that turns one full time position into 2 part time positions
>double job creation rate
>get sucked off by retards for the next century
>everyone has to work 2 jobs to get by
>winning

I don't think you're smart enough to be talking about economics pal.

>But, despite the improvements, the U.S. economy still faces many of the same challenges that it did eight years ago, such as competition from low-wage countries, large numbers of people dropping out of the labor force, a shortfall in productivity growth, and alarmingly high levels of inequality.
>Although ordinary Americans are finally getting raises, that hasn’t made much of a dent in the long-term trend of stagnation. In 1972, according to the Bureau of Labor Statistics, the average hourly wage of non-managers and production workers was $9.26, measured in constant (or inflation-adjusted) dollars. In October, 2016, the hourly wage was $9.20.
>(Yes, the numbers are accurate—I rechecked them in the statistical annex of the latest Economic Report to the President.)
>On a brighter note, persistent job growth has persuaded some discouraged workers who had stopped looking for work to try again. That’s caused the percentage of working-age people participating in the labor force to rebound a bit. And yet, at 62.7 per cent in December, that figure was still 3.5 percentage points below where it stood eight years ago.
>Then, there’s the productivity slowdown. This problem goes back decades, but in the past ten years or so it has become more pressing. Between 1995 and 2005, output per worker rose at an annual rate of about 2.5 per cent, which was an improvement on the previous period. Between 2005 and 2015, however, the growth rate fell to less than one per cent.

Not exactly a ringing endorsement of Obama's policies. The biggest gains were continuations of Bush's policies. In a lot of ways, the economy is on the weakest fundamentals it has been in decades. The so-called Trump Bull is raising the specter of 1929.

And this was written by someone explicitly trying to put a positive spin on Obama's policies and slam Trump's. Here's the very last paragraph:

>Such policies aren’t merely a repudiation of Obama. They would amount to a smash-and-grab raid on the social-democratic notion of government that he sought to protect and extend. If Trump and his team’s proposed policies were enacted in their entirety and maintained, we could well come to look back on the last eight years as but a temporary stopping point on the road to full-on plutocracy.

Don't remind me. My job went from 40 hours a week for the average employee down to 25 when this shit happened. Everyone had to get a 2nd job.

I didn't lose hours but my health insurance premiums topped out at a 300% increase and went from a $1500 deductible to $8k.