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Journal by DeathMonkey
Remember when Republicans cared about the deficit? Pepperidge Farm remembers.
U.S. Posts Its Largest Budget Deficit Since 2013
GOP Congress Presides Over Highest Spending Since Obama’s Stimulus
U.S. Posts Its Largest Budget Deficit Since 2013
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
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(1)
"Are [Linux users] lemmings collectively jumping off of the cliff of
reliable, well-engineered commercial software?"
(By Matt Welsh)
(Score: 3, Funny) by turgid on Friday October 20 2017, @07:32PM
That was a lily-livered pinko-commie unpatriotic democratic deficit not an all-American gun-toting Real Man(TM) Republican Patriotic deficit.
I refuse to engage in a battle of wits with an unarmed opponent [wikipedia.org].
(Score: 3, Interesting) by takyon on Friday October 20 2017, @09:15PM (1 child)
https://www.brookings.edu/opinions/donald-trumps-tax-plan-could-land-america-10-trillion-deeper-in-debt/ [brookings.edu]
https://www.vice.com/en_us/article/qbx79q/trying-to-understand-what-the-hell-trump-is-talking-about-with-the-federal-deficit [vice.com]
http://www.politico.com/story/2016/07/donald-trump-budget-deficit-225389 [politico.com]
https://www.theatlantic.com/politics/archive/2017/04/trump-tax-plan-king-of-debt/524286/ [theatlantic.com]
http://www.msnbc.com/rachel-maddow-show/trumps-ardent-deficit-hawk-declares-we-need-new-deficits [msnbc.com]
https://en.wikipedia.org/wiki/Economic_policy_of_Donald_Trump#National_debt [wikipedia.org]
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by DeathMonkey on Saturday October 21 2017, @04:21PM
In 1999 Trump proposed a massive one-time "net worth tax" on the rich to wipe out the national debt.
Remember when flip-flopping was a bad thing? Pepp.....meh.......why do I bother?
(Score: 1) by khallow on Saturday October 21 2017, @12:55AM (1 child)
Well, we need roads and police, right? Are you some kind of libertarian?
(Score: 2) by DeathMonkey on Saturday October 21 2017, @03:08PM
Nope, just someone who pays his bills.
If you want to spend you've got to tax.
(Score: 0) by Anonymous Coward on Saturday October 21 2017, @01:54AM (1 child)
Borrowing when interest rates are low costs almost nothing.
...and when the economy is in the crapper (like the decade we are in), that tends to be the case.
Deficit Reduction Isn't Necessary With Interest Rates Around Zero -- Dean Baker PhD (2016) [fair.org]
The Deficit Crisis Is Nonsense (Americans Don't Understand Their Own Monetary System) -- Stephanie Kelton PhD (2012) [googleusercontent.com] (orig) [harryshearer.com]
The problem comes in what you spend it on.
The military (which makes up 54 percent of USA's discretionary federal budget--with increases proposed) has a very poor fiscal multiplier effect.
Consumer goods (if USA produced those any more) would have a much greater fiscal multiplier effect than weapons.
A really smart thing for the Congress to do would be to mandate that the fleet of federal vehicles all be electric and produced domestically.
If implemented, Jill Stein's Green New Deal (solar, wind, insulation...) would have a powerful fiscal multiplier effect.
What Repugs (and Neoliberal Dumbocrats) know about Macroeconomics could fit in a thimble with room left over.
...and GOPers only moan about deficits when there is a Donkey in the White House.
...and, historically, Blue administrations pay down the debts racked up by Red administrations. [bartcop.com]
-- OriginalOwner_ [soylentnews.org]
(Score: -1, Flamebait) by Anonymous Coward on Saturday October 21 2017, @09:35AM
Historically, borrowing increases to fund wars, disaster relief efforts and provide economic stimulus. Not to worry - I'm sure infantile, non-binary snowflakes waving gender studies degrees are going to be a wonderful economic success.