- Joined
- Aug 11, 2008
- Messages
- 1,929
- Reaction score
- 371
"The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump’s tax cuts caused the government to borrow more heavily in order to cover its spending.
The Treasury Department said Monday that the deficit climbed $113 billion from fiscal 2017. Debt will likely worsen in the coming years with the Trump administration expecting the deficit to top $1 trillion in 2019, nearly matching the $1.1 trillion imbalance from 2012 [used to combat the 2008 financial crisis and Great Recession, the worst economic downturn since the Great Depression of the 1930s.]
“By cutting taxes in 2017 when the economy was already quite strong, Congress and the administration not only missed a golden opportunity to begin to address the fiscal problem, they actually made the problem worse,”
The Treasury Department said Monday that the deficit climbed $113 billion from fiscal 2017. Debt will likely worsen in the coming years with the Trump administration expecting the deficit to top $1 trillion in 2019, nearly matching the $1.1 trillion imbalance from 2012 [used to combat the 2008 financial crisis and Great Recession, the worst economic downturn since the Great Depression of the 1930s.]
“By cutting taxes in 2017 when the economy was already quite strong, Congress and the administration not only missed a golden opportunity to begin to address the fiscal problem, they actually made the problem worse,”
https://apnews.com/044c01a171894e74b8f1b327c6350961
This government transfers money directly to the elites (large and permanent tax cuts), provides government subsidies for failing private businesses (that are loyal to you-know-who or who provide kickbacks to his super-pacs, is this Venezuela?), and balloons the deficit.
The middle class are endlessly burdened with disproportionately high taxes, increasing inflation and worsening health and education systems. The goal posts get further and further away as they say. The American dream is dying.
The US was once a leader for healthcare and education — now it ranks 27th in the world
https://www.businessinsider.com/us-ranks-27th-for-healthcare-and-education-2018-9
What happened to real fiscal conservatives? Everyone is too emotionally distracted by identity politics to notice what is really going on....
Divide and Conquer. Control the money. Control the media. Control the minds of the people.
It happened in Russia. Now it's here.