Contributors to this thread:
Grey Ghost's Link
Interestingly, the same CBO report also projects the federal debt will grow to a staggering 100% of GDP by 2028, based on current law.
It also projects that GDP growth will slow to around 2% by 2020.
Matt
Um Change in deficit, as a % of GDP, since 1977 Bush 43 +4.7% Trump +1.8% Reagan +0.5% Bush 41 +0.4% Obama -0.1% Carter -0.4% Clinton -5%
According to the CBO
From the summary Real GDP (that is, GDP adjusted to remove the effects of inflation) and real potential GDP are now projected to be greater throughout the coming decade than projected last June, in part because of the significant recent changes in fiscal policy. Also, interest rates are projected to be higher and the unemployment rate lower in the next few years than CBO projected previously. Even if federal laws did generally remain in place, budgetary and economic outcomes would be difficult to predict and thus uncertain. CBO’s projections, especially its economic projections, are even more uncertain than usual this year, because they incorporate estimates of the economic effects of the recent changes in fiscal policy— and those estimates are themselves uncertain. CBO aims to formulate projections that fall in the middle of the distribution of possible outcomes.
According to Moody’s: the Trump Economy is actually a deficit of a trillion & going up thx to the tax scam 83% going to the rich & corps.When deficits are this large expect higher inflation,rising rates,larger trade deficits, slower growth,benefits cuts.Going to get worse before it gets better. Moody’s Just made this call. I’d believe them.
We'll see how truly worthless those CBO projections are if gas prices continue to rise, and stock prices continue to flounder.
Matt
Ah. Another LIE from y f IMposter. 8^)))
Nope, still not tired of winning.
I do projections all the time and you have to constantly update them as new data becomes available. I don't think any of us is surprised that the tax cuts stimulated the economy and I don't think anyone is surprised that the enormous spending added to the deficit. Hopefully we will get spending under control by next year and try to get a balanced budget. The waste on the Fed, State and local level is just staggering and so is the fraud.
Well, Dems are planning on energizing the "entitlement" generation in their upcoming campaign messages...since they know they can't compete economically (see link).
"Hard Left Turn, Clyde"!
The economy was steadily improving under Obama. Fact.
TPP is actual leverage to be used in negotiating w China.
Know why Iran has stopped nuclear progress? The Iran Deal works!
And if you believe NK will denuclearize; i have some oceanfront property in Phoenix to sell you.
Trump has made over 2500 misleading claims/lies since taking office. If that doesn’t upset you, you have no right to call anyone out on lies.
I’ve disagreed w many presidents. Obama included. But past presidents honored their role and the position of POTUS. Trump has attempted to discredit the courts, the law enforcement and intelligence agencies , Congress and the DOJ. Basically discrediting anyone that can provide a check on his power. His claim to want to ‘drain the swamp? Between Pruitt, Carson, Zinke , Ronny Jackson and now Mulvaney, he’s put together the most corrupt administration in recent history. I can’t excuse that and look away. I love America too much to ignore what he’s doing to our nation. Just look how he’s dividing this nation. He’s got the lowest approval rating, he’s governing to his base and nothing more.
Speaking of his base: How many promises has he broken. The wall paid for by Mexico? Nope Better Healthcare for everyone? Nope Draining the swamp? Nope. Bringing coal jobs back? Nope. He promised no more State Dinners. He had one last night. He promised to reduce the debt. It’ll top 21 Trillion for the first time EVER. He promised to show his taxes. Nope. He promised to produce Obama’s birth certificate and proof he’s Kenyan. Nope. He promised to pulllour troops out of the MidEast. Nope. He claims he’s a deal maker but count how many people he’s stiffed or conned.
Sorry. I have a hard time seeing this guy as anything other than a liar and conman. I’m sorry you idolize someone who cheats on his wives, donated to The Clintons and took money from a Soros but Hs somehow become the hero of conservatives. That’s something only you guys can explain.
you’re being intellectually dishonest. Was the economy better in 2008 or when Obama left office? Every single rational human knows the answer to that question. If you choose not to except it, that’s on you. But it’s not factually correct.
Thanks for another LIE y f IMposter. You just can't tell the truth about anything, can you??? OOOps another question that he will run from. 8^)))
"Annual Handgun Production"...up 68 percent, LOL !
Thanks Obama...best gun salesman in History, no doubt!
"Debt held by the Public" seems to be another one of Obama's crowning glories !
All the folks in Chicago have the firepower they need, to keep the body count higher than ever!
I think there's a fair bit of intellectual dishonesty from both side of this discussion.
First, Obama inherited the worst recession since the Great Depression, so there was no where to go but up. He also borrowed and spent $800 billion to stimulate the economy, which only added to the national debt.
Trump inherited a relatively strong and growing economy. The first 9 months of his administration operated under Obama's budget and fiscal policy, which happened to be a period of some of the strongest growth we've seen. Currently there is only 7 months under Trump's budget and policies, so I believe it's premature to celebrate.
According to most projections, Trump's budget and fiscal policy will add to the national debt at a comparable pace as Obama's did. Whether or not his other economic policies generate enough revenues to offset his deficit spending is yet to be determined.
I, for one, hope Trump knocks it out of the ballpark economically. 7 more years like the last few we've had would make my retirement very comfortable financially. It would also temper my dislike for Trump's personality and character flaws.
Matt
Matt That’s a fair assessment that I accept whole heartedly.
There is 2 choices that Trump will have to decide on with this fiat currency + debt that has not been dealt with Bush or Obama (Obama really tip our financial problem of $9 Trillion extra debt from unrestrained spending). Trump will either reset the dollar back to the Gold Standard or declare a Jubilee (PZ will not understand this one as a Atheist) and will cause some short term problems but will stabilize the long term along with common since spending. Our National Debt is the #1 threat to this country that anyone but a Progressive Dem would understand, Econ 101 would explain this one.
If our national debt is such a problem, why doesn’t trump agree? Because that bad boy is about to explode. And we haven’t even begun to talk about his trillion dollar infrastructure program. Any idea where that money is coming from?
Solo,
I fail to see where I "praised" Obama. I stated a fact the he inherited a bad economy. I also acknowledged he borrowed and spent $800 billion on what amounted to just more debt. That's not praise in my book.
I also stated the fact that Trump inherited a relatively strong and growing economy, and that the first 9 months of his administration, under Obama's budget and policies, was some of the strongest growth we've seen. You can decide who should take credit for that.
I don't buy your theory that Congress "staged" a economic crash to influence the election. They simply don't have that power, and it's ultimately counter productive for everyone, anyway.
I do agree, we've only scratched the surface of this discussion. But I won't hold my breath waiting for more in-depth conversation.
Matt
Where did Obama's $800 billion Shovel Ready, didn't see a pothole fix here except unions payoffs and speaking of payoff there was a $10 Billion forgiveness to GMC bailout. Obama did change America and not for the good, he did learn well from Rules For Radicals, Bill Aryers, Jeremiah Wright and the rest of the Progressives mentors. PZ, if you claim to be an educator go read up on Woodrow Wilson ( the first Progressive POTUS) and LBJ's Great Society that the Blacks are still enslave by (Chicago is a great Progressive example). What makes a great Socialist is being a Capitalist, Putin is doing great as long he isn't like his fellows Socialist. Been in the psychiatric business for over 34 yrs and I can say by observation that liberals are more predispose to psychiatric problems than I have seen in conservatives, reasoning is a major issue. Always thought when the group picture taken of the DNC House members look like a poster for increase psychiatric fund raising. :)
"How many years out of his 8 was the annual growth rate at 3% or better?
Zero, just like Trump so far. It did climb over 3% 8 times on a quarterly basis under Obama, however.
Matt
By quarter 2011-2017.
Matt
S&P Performance by president.
Why don’t some of you people want to believe empirical evidence? It’s baffling.
your fav IMposter. I would trust Putin before i would you, or anything you say. You are a worthless POS LIAR, and you have PROVEN time and time again, you can't be TRUSTED.
Ha! Ok Commie lover. I can tell you that I've never poisoned any of my adversaries, so there's that! But sure, you can be a fan of Putin all you want. Reagan is turning in his grave. Wait, you do love Reagan, right? Enjoy this fantasy, you're welcome!
So your fav IMposter. You really seem to like guys, i see. Is that you in the front??? With your picture on here, i can see you wanting the front. I still would trust Putin, than your LYING a$$. You are a PROVEN LIAR, and FAKE. "I can tell you that I've never poisoned any of my adversaries, so there's that." Yep, you would rather LIE your a$$ off to them. Just as dangerous. Still, you have proven you can't be trusted. Enjoy your front ride with Trump. 8^))))
And Paulabe did say (like anything hesheit says is truthful!!!) that he hired a private dick because.....now get this, this is a classic and #1 on the "You Can't Make This Sh*t Up list....he claims that SOMEONE STOLE HIS IDENTITY!!!! The same Sybil with 40+ fake identities!!!!
I’m not sure how much he had to do with this but if he had anything at all to do with it, It could be his biggest achievement. Keeping my fingers crossed.
y f IMposter. Trump is making change and you continue to not change. You want to stay as the LYING, FAKE, that you are. Once again, you make Trump look like a saint. 8^)))
Yes I just read that about pulling out of Iran nuke deal. Well done Mr. president. I doubt if Iran will give the billion plus dollars Obama gave them.
Oil’s up over 3% today on the Iran news! Thanks Trump!
Are you sure it's not them damn russians fault?? Collusion with the oil companies??? 8^)))
Lol...ok, Trax. The Iran move had nothing to do with oil rising 3% today. Got it. Lol
Should happen next year, JTV. And it’s really no thanks to any politician and has everything to do with new technology. The shale revolution has been happening for some time. And no, oil prices don’t “always” rise this time of year.
I have been hearing for over a month oil was going to go up. So now it’s because we backed out of the crappy Iran deal?
Traxhole, I’m happy oil is up. Sincerely...Thank you Trump for pulling out of the Iran deal!!
BEG, can’t you just admit Trimp IS winning? In every aspect. I know he can be rough around edges and isn’t “president material” to everyone. So what! Screwed a tramp 10 years ago. So what! Paid her to shut up. Guess what, So what! He continues to do exactly what he said he would do if elected and you have trouble admitting any good.
I truly think the Dems are seeing their death. They absolutely know they will need every bottom-feeder, illegal, and other non-contributing citizen they can dig up, to stay alive!
Iran will soon follow North Korea's lead. There will be a new awakening about just what kind of leader America needs, to keep the rest of the World in check.
Assuming the "sheep position" on every International deal obviously didn't accomplish much.
"The country's central news agency said the dismantlement of the nuclear test ground would involve collapsing all of its tunnels with explosions, blocking its entrances and removing all observation facilities, research buildings and security posts."
Trust nothing that Un says or does. The last test at this facility in September reportedly collapsed tunnels, killed hundreds of North Koreans and made the test facility inoperable. This 'win' is probably just a shiny object to distract trump. Un will not give up his nuclear program but it appears that trump suspects this in all his public statements about the upcoming meeting.
Un does what Un has always done....
I have said it above - providing help to the 25 million north Koreans would be a 'win' for me (rather than making one chubby one richer). Sounds like they are already balking about any denuclearization.
https://www.cnbc.com/2018/05/15/north-korea-says-it-rejects-libya-style-denuclearization-reuters.html
Well of course he rejects a libya style of denucking...What with the Obama administration state dept and all in charge old Qaddafi could have invited everyone over for cookies and cake and the USA still would have supported the rebellion that took him down...
Changing the subject a bit, the stock market is doing great today. I never get tired of seeing that happen.
Hahahaha. Muellers investigation is falling apart?!? Dude, go see your eye and ear doctor STAT Today it was revealed that Don Jr. "doesn't recall" who he spoke to for 4 minutes following a call with Emin Agalarov on the day of the Trump Tower meetings. He says he doesn't remember if it was Donald Trump. I guarantee you that Robert Mueller knows exactly who he called!!
Mueller has investigated trump and company for just 1 year with convictions, indictments and guilty pleas to show for it!! With so much moreto come.
By comparison The GOP "investigation" of Benghazi took 4 yrs, no convictions, no indictments. Nothing.
Yep JTV. Muellers problems are just beginning. There's stuff starting to pile up on him.
WINNING! Trump to Cut Funding to Planned Parenthood
Another win....!!!!!
China agrees to end our trade deficit with them.
Kyle, this is good news!
Trax - what is your real name? It wouldn't happen to start with Donald and have a Jr at the end of it, would it?
No summit for now. Seems we have seen this strategy from NK for the past 30-40 years.
Pro life huh? His ICE just lost 1500 kids separated from their mothers. One was just less than a year old. So called pro lifers aren’t actuall pro life. They’re pro birth. They don’t give a rats ass about the kids once they’re born. Feeding them? Educating them? Healthcare for them? Nah.
y f IMposter. How many ILLEGALS are you willing to take into your house, and raise???
How many children NOT aborted are you taking? I’m guessing we have the same number. But you’re missing the point. If you claim to be pro life and pro children, do you mean only American children? Are foreign kids less valuable? Because according to the trump admin they are. They’re taken and put into camps away from their mothers. How is that pro child? Pro life?
yes foreigners are less valuable than Americans. America first!!!!!
y f IMposter. It's not America's fault that the ILLEGAL PARENTS came here ILLEGALLY, had ILLEGAL kids. Why do you think that it's America's fault, for the ILLEGALS to come here ILLEGALLY, and therefore the US is Responsible? It has nothing to do with PRO LIFE. It has everything to do with handling people that come here ILLEGALLY.
Oh and y f IMposter. I think "You are missing the point", on purpose of course, for POLITICAL GAIN. Now are you going to tell us how it's America's fault for ILLEGALS coming here ILLEGALLY and having kids ILLEGALLY????
Paul, I'll be willing to bet any neighbor to you, front, left, right or rear, is not minority foreign... prove me wrong.
Yep y f IMposter. Thanks for showing everyone on here that comes to the Community Forum, just exactly how you democrats want to LIE to everyone in America. All the people on the Community Forum needs to remember all the LIES that you, THE DEMOCRAT, put on here daily, for POLITICAL GAIN ONLY, and not the best interest of AMERICAN PEOPLE, next Election.The people need to see that you democrats have brought nothing to the table that will help Americans. All you democrats are bringing to the table is DACA, and helping any and all ILLEGALS, for VOTES. The people need to remember this next Election. Thanks for exposing your agenda y f IMposter. People wants to know.
You’d be wrong. I have arabic neighbors from Jordan, as well as a lovely Italian couple and we all get along very well. I also shop at a Spanish owned market because they have the best produce in a 25 mike radius. Your point? However, children are not any less valued no matter where from. I’m sad for you that you think that Kentucky. And deep down you’re better than that.
You understand my point... we are not talking about affluent well to do, no... i meant low income minority family's... the kind you libs often talk about but seldom even truly support... maybe in lip service. Funny how all these " hate has no place here" are in affluent neighborhoods... each neighbor makes 200,000 and up... frkn kills me.
y f IMposter. You trying to answer a question is like pulling eye teeth. You seem to not be able to understand any questions. You side step them, answer some with a question. Typical of a known LIAR. LIARS can't ever answer a question, concerning the LIE the LIAR just stated, with a straight answer. Proves you are a person that can't be trusted, EVER.
Yep, still not tired of it. Actually is a very refreshing feeling.
When Trumps tariffs kick in the economy will tank and thats on him. We will pay those tariffs, the American consumer. And yes,l voted for him and support Trump. Tariffs are bad for our economy.
Remember Bush's tariff's on steel? Only took a little over a year till they reversed them, but it was to late. It doesn't take long to do the damage. And Trump is going down that road. Stupid move.
Time will tell. He has made very few stupid moves.
Trump is acting like Zero. You can't pick winners and losers in a economy. Incentive and disincentive .
This was an interesting story from this morning.
Thanks to tax reforms utilities are lowering rates.
Terry
https://www.atr.org/thanks-tax-reform-utilities-are-lowering-rates
From AOS today:
"Look, Mrs. Merkel, I don't know who you think you're dealing with, but I'm telling you this borderless global world order garbage you're trying to sell me is a non-starter. That's just not happening. And you're trying to get America to fund it, too. Did George Soros tell you you could do that? That's rich. Well, we're not falling for it. You thought maybe you could roll me like Obama got rolled? Yeah, right. Just ask the Iranians, they had him over a barrel saying thank you as the mullahs pantsed him and poked him one after the other. He was a disgrace, a complete disgrace, and America is better off with him out of the picture. Oh, and the little runt spied on my campaign, you know that? I'll bet you didn't. Well, it's true. Anyway, from now on, I'm looking after America's interests first, and by America's interests, I don't mean the interests of the GOPe donor class and their cronies in the Chamber of Commerce. So I won't be signing on to any bad trade deals that do nothing but increase our unemployment and debt while you euro-commies reap the benefits. America is not the world's piggy bank. Those days are over. Bill Kristol is going to have to pay full price for his pool boy. No, don't listen to him, he's an idiot, a complete moron who is still living off of his daddy. So you can talk to the 'Stache here. He's a helluva guy. You may not like John, but you know something? He doesn't like you, either. I didn't bring him here to win a popularity contest. Come to think of it, John probably doesn't like me very much either. But we both of us love America, and that's what counts."
2nd quarter GDP revised upward to 4.8%.
Terry
Korea has canceled its annual anti-America demonstration and 100 remains of American soldiers killed in the Korean War are on their way home. NK and SK are talking.
Changes
On the other side of the world, Trump has had a positive effect (for the rest of the world) when it comes to Iran:
Trump Winning In Iran: Foreign Minister Fears Collapse Of Nuclear Deal Could Topple Government
Babak Taghvaee @BabakTaghvaee 24 Jun
#BREAKING:#Iran|ian currency devaluation breaks the record. 1 USD equals 9K Iranian Rial! Industries are at the edge of bankruptcy. This is going to trigger a new series of nationwide strikes & protests in #Iran which can lead to #IranRegimeChange under leadership of #RezaPahlavi pic.twitter.com/XnN2D9LApr
Babak Taghvaee @BabakTaghvaee
Today following to the shocking #Iran's currency devaluation, shopkeepers in the Alaeddin & Chaharsu Bazaars of #Tehran started protest. This might trigger a series of new strikes and protests against #Iran's Islamic Regime across #Iran which will lead to #IranRegimeChange. pic.twitter.com/038BdTbLVn
Via Daily Wire:
The Trump Administration knows exactly how to handle the despotic government of Iran, the world’s leading state sponsor of terrorism: On Sunday Iran’s Foreign Minister Mohammad Javad Zarif admitted to the Iran Chamber of Congress that the collapse of the 2015 nuclear deal would have “very dangerous consequences” for the country.
With protests mounting in the country against the government in full swing, what Zarif is likely referring to is the fact that any more pressure on Iran’s economic system and the government will fall. As Reuters reported, “The Iranian rial plunged to a record low against the U.S. dollar on the unofficial market on Sunday, continuing its slide amid fears of returning U.S. sanctions after President Donald Trump in May withdrew from a deal on Tehran’s nuclear program. The dollar was being offered for as much as 87,000 rials, compared to around 75,500 on Thursday, the last trading day before Iran’s weekend, according to foreign exchange website Bonbast.com, which tracks the unofficial market.”
Keep reading…
This is really winning...another erasure of Obama's infection of America.
Army Training Will Now Focus On Actual Battlefield Skills, Not Social Issues
Back to train as you fight.
Via Washington Times:
Actual fighting will now take precedence over dealing with transitioning transgender troops, drug abuse and other issues as the Army seeks to overhaul its training regimen to hone its soldiers’ battlefield skills.
In a series of recent service-wide memoranda approved by Army Secretary Mark Esper and Chief of Staff Gen. Mark Milley and obtained by The Washington Times, service leaders are now making optional previously mandatory training on issues like transgender transition and drug abuse. The move, Army leaders argue, is designed to relieve stress on the already overburdened troop training regimen and refocus on soldiers ability to fight in combat.
“The Army’s regulations and policies that deal with training were pretty settled and there were not a lot of detractors to it. … It was all the other [training] requirements that we levied on ourselves, or we had levied from other places” that led to the increasingly cumbersome approach to combat readiness, said Col. John O’Grady, chief of the Army’s collective training division.
Those mandated training requirements “served as barriers to maximizing time … to build readiness and lethality” within combat units, he said in an interview. Aside from ending mandatory training programs on transgender troops and drug abuse, courses on media awareness and anti-human trafficking have also been eliminated from the mandatory curriculum, the service memoranda state.
Army officials are codifying the new marching orders into service-wide training guidelines and doctrine, which will bring the Army more in line with the Pentagon’s new National Defense Strategy, Col. O’Grady said.
The strategy, which was one of Defense Secretary James Mattis’ earliest policy initiatives, shifted away from the George W. Bush and Obama-era strategies dominated by battling extremist groups like al Qaeda, the Taliban and Islamic State, and putting the priority on challenging traditional nation-state rivals such as China and Russia. It also placed a greater emphasis on increasing lethality in conventional combat operations.
Along with scaling back non-combat training mandates, service leaders are also extending the time soldiers spend in infantry training. Soldiers graduating from the nine-week basic training course will now spend an additional two months in “advanced individual training” (AIT) before heading to their first duty stations.
Currently new soldiers spend about six weeks in AIT before deploying. AIT courses based at Ft. Benning, Georgia — dubbed “Home of the Infantry” — will be the first to implement extended training time schedule, Military.com reported.
Keep reading…
