Budget Deficit Grows
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Started by joj - July 11, 2019, 3:07 p.m.

Bloomberg reported an increase of 23% to 747 billion in the first 9 months of the fiscal year.

Nobody cares.  Put this in the NTR section.

By TimNew - July 11, 2019, 3:22 p.m.
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Yeah,  we added a whopping 8 billion this month.  Revenue is up 68 billion compared to the same time last year while spending is up by about 200 billion. In that regard,  we've gained since the deficit for June of last year was nearly 70 billion higher for the month. 

By TimNew - July 11, 2019, 3:23 p.m.
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By joj - July 11, 2019, 8:13 p.m.
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Now I'm relieved.  I should have known Bloomberg had it wrong.  Fake news.

By TimNew - July 11, 2019, 11:28 p.m.
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Below is the link to the US Gov Treasury site used as a source for the numbers. Bloomberg uses the same technique with record Dow and SNP #'s.  Indexes hit record territory after huge gains and it's big news!!.  Next day, they go up 1 point and again, Record Territory, Big News!!!.  They always seem to find a few people to buy into the hype. It keeps them in business.  And they'd like to thank you.

By Richard - July 12, 2019, 12:17 a.m.
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Debt does not matter when you are planning to BK.

By cliff-e - July 12, 2019, 1:41 p.m.
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Yes 45 and co. continue to run the country into the ground thinking only of reelecting himself to try to fix the mess he's created.

By TimNew - July 12, 2019, 1:55 p.m.
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I guess you can't have TR deficit discussions..

The mess he has created?

You mean the highest GDP we've seen since the great recession?

Or do you mean the rate of mfg jobs created, which is somewhere around 400% greater than the previous "Magic Wand" admin?

Or do you mean the lowest unemployment rate in 50 years, the lowest ever for minority groups?

Surely you can't be referring to the debt as anything we've seen so far was totally eclipsed by the previous admin which added more debt than all the previous admins going back to George Washington.

Edit:  I left a lot of positives  out of this, but the list is much longer. I  just want some clarification on the "MESS".

Edit2: I won't hold my breath. The majority of objections to Trump are unsubstantiated histrionics.

By bear - July 19, 2019, 11:16 a.m.
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debt and deficits grew more under trump, bush jr, and reagan.  grew less under carter and clinton.  

massive debt levels across western society is one of the main reasons why we are seeing extremely weak growth. 

tax cuts were good for growth,  but trump should have pushed hard for spending cuts first.  

just my opinion,  but the negative yields we see in europe are telling me that the markets expect a big depression in europe over the next couple decades.  so if you get a zero interest rate on german bonds over the 20 yrs, that is telling me there will be NO growth in europe over that timeframe.  

they may get  inflation, only if the ECB expands their "helicopter money" programs.

By Richard - July 19, 2019, noon
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this entire conversation is irrelevant as it has already been decided that the USA will declare BK in a half dozen years from now. 

By mcfarm - July 19, 2019, 2:02 p.m.
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6 years? what the heck does that matter when we only have 12 more years on this planet...thanks AOC

By Lacey - July 19, 2019, 7:56 p.m.
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Decided by who Richard?  So  Trump's successor will default on government debt.  Been hearing about the collapse of the dollar for twenty years.  So where do you want to put your money, China? Europe? Russia?  Still holding calls on $200. crude?

By wglassfo - July 20, 2019, 5:33 p.m.
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The world is swamped with debt and so far only the USA has a robust economy

Now as to your oil calls

I think it all depends on what the USA and Iran does to safe passage for [I think] 20% of world daily consumption thru the Strait of Hormuz

As to debt we know the debt will never be repaid. But the USA is not alone in this vicious debt cycle

At some point assets will devalue or we have massive inflation

History shows printing press followed by massive inflation

Default is not something most people can sell if they want re-election

Nobody knows but we do know the end of the road is out there some place

Closer then we think I suspect

We have had an easy time for 50 yrs. Nobody really believes it can or will end

Einstein a very smart man bought stocks when the market was booming. Then he sold at a hand some profit. But his friends held their stocks and made even bigger profits. So he bought again. Just as the market rolled over. He sold two yrs later a BK man

He did have a 20,000  profit. [not sure what currency] Enough at that time to equal a vast fortune. But he went BK

Even the smartest get caught up in the hype. Does anybody see something similar to todays stock market, of 50 yrs of upward trend even accounting for the blips along the way

I look at Bears monthly charts and wonder if this is a blip or something bigger

I wish I had more physical gold.

By Richard - July 20, 2019, 8:12 p.m.
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As of right now I am still owning and buying more oil calls looking for $200.

By MarkB - July 21, 2019, 2:30 a.m.
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Who of our "representatives" in Washington, really gives 2 craps about the deficit, or the national debt? The answer: None of them! If they did, then they would have been looking into our budget, and finding ways to cut the spending. But all they do, is keep adding to the spending, without review.

By metmike - July 22, 2019, 12:55 p.m.
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This is true of most of them Mark.

Rand Paul is an exception though. 


Republicans join Democrats to kill Rand Paul's fiscally responsible Pennies Plan because no one cares about the debt crisis


"That was a nice decade of Republicans pretending to care about our $22 trillion national debt and annual multitrillion-dollar deficit. But as of Monday, we can safely say the Tea Party is over. 


Sen. Rand Paul, R-Ky., introduced about as reasonable an attempt to rein in our exploding deficit with his Pennies Plan, which would cut 2% from on-budget spending per year for the next five years. Additionally, Paul's plan would expressly protect Social Security, include instructions to make the individual income tax reforms passed by President Trump permanent, and expand access to Health Savings Accounts. 


It's a modest but tangible step in the right direction. It wouldn't solve our debt crisis, but it would ameliorate it somewhat. So naturally, a large bipartisan majority voted to block it from the Senate floor."