Political Talk Forum

scotchandcigar

arrogant bastard
Feb 13, 2009
11,006
8,476
168
MA
Our nation's budget deficit is now $867 billion and in 2022 will exceed one trillion dollars. I can't even count that high!

I wanted to talk about this - because it's shocking and important. But I wanted to do so without hearsay or opinion; just facts. Here are the facts
1565722376199.png

I've taken the graph of government outlays vs. revenues (from the CBO), and overlayed the following: presidential terms, recessions (R)/expansions (E), and unemployment. I've also drawn arrows (>) that show the trends during economic expansions.

During most of the Reagan, Clinton and Obama presidencies, the trend markers make an arrow pointing right; that is, Outlays decreasing and Revenues increasing. It's most evident with the Democratic admins of Clinton and Obama (Clinton had the only budget surplus). It's not as good with Reagan, because his tax cuts for the rich (trickle-down economics) caused revenue to nearly flatline. GW Bush had a different problem; revenues increased, but so did outlays - due to starting 2 wars, establishing the dept of Homeland Security, and mailing every US citizen a $200 check.

Getting to the present day, there's a long economic expansion starting shortly after Obama takes office, combined with a fiscally responsible reduction in government spending - although starting from a high point due to the bailouts and such. Once we get to the current admin, we see that unemployment continues to drop, indicating that the expansion is still underway. However, both indicators are going the wrong way; Revenues are falling, while Outlays are level and predicted to be rising. The long term outlook has revenues either flat or marginally increasing.

This is way off; it's unlike anything in the past. Tax cuts for the rich and for corporations are causing revenue to fall during an economic boom. And outlays are increasing due to government spending. The party in charge is allowing and enabling this, and controlling the media. In all practicality, there's no stopping this irresponsible governing.

But here's the good news: a year or 2 down the road, when the shit hits the fan - we go into a recession, and interest rates climb - it's the people who enabled this who will get hit; all the middle America people who are scraping to get by, and who've decided they don't need healthcare. The rest of us, with assets and jobs that are in demand, will do just fine.
 

Channel98

Don't yell or hit.
Feb 2, 2019
1,864
586
118
Glendale CA
You want to discuss issues "without hearsay or opinion; just facts"? How did you come up with that crazy idea?! :D

Trump promised those huge tax cuts for banks, big corporations and the wealthiest Americans would be like "rocket fuel" to boost the economy and increase capital spending. That didn't happen. Many companies spent their tax savings on stock buybacks. In the last quarter, business investment fell for the first time in three years. And we're three years away from a trillion-dollar deficit. There ya go!

 

Channel98

Don't yell or hit.
Feb 2, 2019
1,864
586
118
Glendale CA
"Our framework ensures that the benefits of tax reform go to the middle class, not to the highest earners," said Donald Trump on October 11, 2017. Nobody believed him then and nobody believes him now. As this Yahoo News story notes, "After refunds, the IRS collected about $93 billion more from individual American taxpayers in 2018 than it did in 2017. Interestingly, that number stands close to the tax break amount that corporations received from the Tax Cuts & Jobs Act in 2018. Last year, big businesses paid $91 billion less in taxes than they had in 2017, prior to the new law’s passage."

American taxpayers paid $93 billion more in 2018 under Trump tax law

 

scotchandcigar

arrogant bastard
Feb 13, 2009
11,006
8,476
168
MA
Trump promised those huge tax cuts for big corporations would be like "rocket fuel" to boost the economy and increase capital spending. That didn't happen. Many companies spent their tax savings on stock buybacks.
To be fair, a big reason that the unemployment rate has continued to fall, is due to hiring resulting from tax cuts. The government is essentially "buying" those jobs, but it's still jobs.
"Our framework ensures that the benefits of tax reform go to the middle class, not to the highest earners". After refunds, the IRS collected about $93 billion more from individual American taxpayers in 2018 than it did in 2017.
I certainly paid more, and an entire segment of the country - those with high property values and a state income tax - paid more. But we're not the middle class he's referring to. By capping the property/state tax deduction, and lowering the thresholds for the higher income tax brackets, he seems to have strategically targeted democratic regions as the "donors". Lower middle class people in low-income/low value states are presumably the "recipients". But that's not important. What's important is that he said it.
 

IdRatherBeSkiing

Sherbert is not and never will be ice cream
Oct 11, 2008
17,079
5,028
168
Toronto, ON
Let's lighten-up the mood here, shall we?

If you believe the Adam & Eve story, there would have to be incest the first several generations. Of course, they only had 2 sons which makes reproduction more difficult without incest with mommy.
 

Channel98

Don't yell or hit.
Feb 2, 2019
1,864
586
118
Glendale CA
Genesis 5:4 says Adam and Eve "had other sons and daughters" after Cain, Abel and Seth. The number is not given but because "sons" and "daughters" are plural, we know Eve gave birth to at least seven children. First-century Jewish historian Josephus provides more detail about the children of Adam and Eve:


And yes, incest is forbidden by the Law given from God to Moses (Leviticus 18) but that law was not retroactive. Incest, for obvious reasons, was necessary at one time. Abraham married his half-sister (Genesis 20:12) and Issac and Jacob married relatives (Genesis 22 and 24).

I believe Steve King is the result of an illicit three-way relationship between a rat, a skunk and a jackass.
 
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scotchandcigar

arrogant bastard
Feb 13, 2009
11,006
8,476
168
MA
According to Gematria, the serpent in the garden and Jesus are aspects of the same entity (358).
Those are lyrics to a U2 song.
Genesis 5:4 says Adam and Eve "had other sons and daughters"
The ones nobody talks about, like Tiffany Trump.
I see a pattern developing. First Swalwell, then Hickenlooper. I'd say Pete Buttigieg's days are numbered.