2019 Numbers Show Worsening Fiscal Picture

[KenH]

“What makes the Fiscal 2019 numbers particularly troubling is that they show a worsening picture despite a relatively strong economy. Rather than taking advantage of a strong economy to improve the fiscal picture, Washington policymakers have been making the situation worse.

When the 116th Congress and the Trump Administration took office in January 2017, the CBO was projecting a deficit of $601 billion in 2019. The increase from that projection to the actual outcome came from legislative actions that cut taxes (roughly 60 percent of the change) and increased spending (40 percent of the change).”

2019 Numbers Show Worsening Fiscal Picture

 

[Revmitchell]

Probably not going to get it from Trump he is used to living on credit and he has had to rebuild the military. I would like to see us go back to a balanced budget.

 

[Reynolds]

“What makes the Fiscal 2019 numbers particularly troubling is that they show a worsening picture despite a relatively strong economy. Rather than taking advantage of a strong economy to improve the fiscal picture, Washington policymakers have been making the situation worse.

When the 116th Congress and the Trump Administration took office in January 2017, the CBO was projecting a deficit of $601 billion in 2019. The increase from that projection to the actual outcome came from legislative actions that cut taxes (roughly 60 percent of the change) and increased spending (40 percent of the change).”

2019 Numbers Show Worsening Fiscal Picture

The Democrats have their sacred cows. The Republicans have their sacred cows. Until both sides sacrifice a large segment of their cows, nothing will get better.
The mutual cow they have to kill is the Federal Reserve.

 

[Reynolds]

Probably not going to get it from Trump he is used to living on credit and he has had to rebuild the military. I would like to see us go back to a balanced budget.

I would love to see that. The true Reason it won't happen is because the Federal reserve makes a fortune on our debt and they run the government .

 

[Adonia]

This is one of the worse things Trump has done, this continuation of out of control spending. At some point it will all come crashing down - it has to and then we will really be in one heck of a mess.

 

[Reynolds]

This is one of the worse things Trump has done, this continuation of out of control spending. At some point it will all come crashing down - it has to and then we will really be in one heck of a mess.

Trump can't take on the Federal Reserve.

 

[Adonia]

Trump can't take on the Federal Reserve.

Where exactly in the Constitution is the mandate for the "Federal Reserve"? Obviously, there is nothing "Federal" about this private entity.

 

[Reynolds]

Where exactly in the Constitution is the mandate for the "Federal Reserve"? Obviously, there is nothing "Federal" about this private entity.

It is a law that would require a simple repeal.

 

[Revmitchell]

Trump can't take on the Federal Reserve.

Dont put it past him

 

[KenH]

This is one of the worse things Trump has done, this continuation of out of control spending. At some point it will all come crashing down - it has to and then we will really be in one heck of a mess.

Consequences. There are always consequences.

 

[kyredneck]

Trump can't take on the Federal Reserve.

Dont put it past him

Carney: The Debate Over Fed Policy is Over. Trump Won.

The Fed has come around to his thinking on U.S. interest rate monetary policy.

 

[Reynolds]

Carney: The Debate Over Fed Policy is Over. Trump Won.

The Fed has come around to his thinking on U.S. interest rate monetary policy.

Not the battle I am talking about.

 

[kyredneck]

Not the battle I am talking about.

No, it's a battle won. If during his second term he manages to audit the Fed, something that's never been done, then we'll be into 'the thick' of the war, and a major victory.

 

[Reynolds]

No, it's a battle won. If during his second term he manages to audit the Fed, something that's never been done, then we'll be into 'the thick' of the war, and a major victory.

It's not even a battle. The battle is to abolish the Fed. I wish interest rates would rise.

 

[kyredneck]

It's not even a battle.

Hide & watch, wait & see if there's not a humongous battle if the 'Fed Transparency movement' gets traction under Trump's second term. I fully expect it.

The battle is to abolish the Fed.

...and auditing the Fed is a very necessary step in doing that. You can't see that?

I wish interest rates would rise.

You care to explain your logic behind that?

On one hand you want to abolish the Fed, on the other you want the Fed to raise interest rates.


???

 

[Wingman68]

It's not even a battle. The battle is to abolish the Fed. I wish interest rates would rise.

But.......but.........the government wouldn’t be able to service their own debt, what WOULD they do?! oh wait........I’m retired, & I want my check every month......never mind.

 

[Reynolds]

Hide & watch, wait & see if there's not a humongous battle if the 'Fed Transparency movement' gets traction under Trump's second term. I fully expect it.



...and auditing the Fed is a very necessary step in doing that. You can't see that?



You care to explain your logic behind that?

On one hand you want to abolish the Fed, on the other you want the Fed to raise interest rates.


???

I can explain it easy, since the Fed currently controls interest rates, I want them to raise them.

 

[KenH]

I wish interest rates would rise.

Agreed.

"Former Republican congressman and two-time GOP presidential candidate Ron Paul warns that negative interest rates will crush the global economy.

“We will join the rest of them and go to total negative rates in hopes that that will be the solution,” the former Republican congressman from Texas recently told CNBC.

“We’ve never had as many currencies in negative interest rates. $17 trillion worth of bonds [are] in negative interest rates. It’s never existed before. And, that’s a bubble. So, we’re in the biggest bond bubble in history, and it’s going to burst,” said Paul, a vocal libertarian known for his economic and stock market bubble warnings."

Ron Paul: Negative Interest Rates Will Crush Global Economy

 

[kyredneck]

interest rates, I want them to raise them.

Why? Because of the negative interest rate issue?

 

[Van]

Probably not going to get it from Trump he is used to living on credit and he has had to rebuild the military. I would like to see us go back to a balanced budget.

I think many people are for a balanced budget, but the last "balanced budge" was balanced on the back of the military.

Even if voters put 60 plus Republicans in the Senate and a significant majority in the House, I doubt is they would have the stomach to reduce entitlement spending. And this does not mention the need to put more originalists on the Supreme Court.