Gimme Your Money!

Closing Thought–23Oct18

Our Dear Supreme Leader’s infamous tax cuts have exploded the deficit…..

Thanks in large part to Republican tax breaks for the wealthy and big corporations, the latest tallies are jaw-dropping.

The U.S. budget deficit is reaching levels that are abnormally high for a robust economy, and lawmakers from both parties are proposing ideas that would make the deficit swell even further.

The government spent $895 billion more than it brought in from taxes and other revenue sources during the past 11 months, the Congressional Budget Office said this week, a 33 percent increase from one year before.

Even the Supreme Leader was shocked and he has a plan to lessen the deficit……

President Trump instructed his cabinet secretaries Wednesday to reduce their departmental spending by 5 percent or more next year.

“Some of you will say, ‘Hey, I can do much more than five,’” Trump said at a Cabinet meeting.

……after the U.S. Treasury reported that the budget deficit hit a 6-year high of $779 billion in fiscal year 2018. The 17 percent year-over-year increase in the deficit was driven in large part by the tax cuts pushed through Congress by Republicans late last year, along with a $300 billion increase in spending for this year and next.

The Trump administration has been hinting recently that it would seek to cut spending for fiscal 2020, with Kevin Hassett, chairman of the president’s Council of Economic Advisers, saying last week that “deficit is absolutely higher than anyone would like” and that “you’ll see a much more aggressive stance” soon as far as the budget is concerned.

(yahoo news)

Will that include the Pentagon?  If so we can kiss that new Space Force good-bye for now.

I have a feeling that the Pentagon will be exempt.

Now watch the game that the GOP will start about Social Security, Medicare, etc……it is always the fault of so-called “entitlements” that explode the deficit…not the mindless policies of the GOP (that is sarcasm)…..

5 thoughts on “Gimme Your Money!

  1. Their plan for years is to reduce taxes sand then use the increased deficit as a reason/excuse to reduce entitlements and the size of the federal government in general.

    Some, including I believe David Kock or Koch- never can remember spelling- want to reduce it to military and enforcement of property rights. Their property rights of course. Some of our founding fathers agreed with that concept.

    If I hear any good news I will let you know, but am not expecting any. My expectations are not high.

    1. It has been the mainstay of the GOP…cut taxes so it expands the deficit and then use it to cut “entitlements” and it works every time…..basically because Americans do not understand economics….we have news and we have Trump news…I prefer news…LOL chuq

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