Some things never change……with the news of an ever expanding deficit and the spineless GOP has the lame same idea as in the past….entitlement reform. Pathetic pack of losers and even more so now with the King Don in the Oval Office.
With all the drama that leaks from the White House…..nothing is being said about the deficit. Nothing is being said that the worthless tax cuts are expanding the deficit….that is until today when GOPer Sasse of Nebraska told Morning Joe that he wants to work on entitlement reform to help the deficit.
I love this crap! The GOP will focus on deficit control after blowing it up with their massive tax cuts for rich bastards….this is a continuing story…once they, the GOP, are in the minority the deficit and entitlement reform is primary on their minds but when in majority it means little and is seldom mentioned…..these toads are all too predictable.
Finally a true GOPer…..blame the deficit on entitlements and not on their stupidity with the budget for the Pentagon or those worthless tax cuts of 2018.
But what are these reforms that the GOP will embrace?
Paul Ryan made the TV rounds giddily hawking his plan, saying, “Do we want to get entitlement reform? Of course we do.
His intentions could hardly be clearer, but there are still people out there worried about stating this fact too openly. Earlier this month, Maya MacGuineas, president of the non-profit Committee for a Responsible Federal Budget.
“Gutting,” of course, is exactly what Republicans mean when they talk about “reforming” “entitlement” programs. But MacGuineas was correct to point out the many politically loaded words partisans throw around when talking about programs that benefit poor Americans (with “reform” being high up on that list.)
Let’s look at the most recent news about the deficit…….
The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Trump’s tax cuts caused the government to borrow more heavily in order to cover its spending. The Treasury Department said Monday that the deficit climbed $113 billion from fiscal 2017, the AP reports. Debt will likely worsen in the coming years with the Trump administration expecting the deficit to top $1 trillion in 2019, nearly matching the $1.1 trillion imbalance from 2012. The deficit worsened because tax revenues are not keeping pace with government spending. The government’s fiscal year runs from October to September, unlike calendar years that begin in January. Tax revenues were essentially flat in fiscal 2018, while spending increased 3.2% as Congress gave more funds for military and domestic programs.
Revenues generally tumbled after December when Trump signed into law $1.5 trillion of tax cuts over the next decade. The tax cuts have caused economic growth to accelerate this year with Federal Reserve officials anticipating gains of 3.1%. But the Trump administration initially promised that the tax cuts would pay for themselves through stronger growth—and there is no sign so far of that happening. Treasury Secretary Steve Mnuchin suggested in a statement that the underlying source of the widening deficit was growth in government spending, rather than the tax cuts. “Going forward the President’s economic policies that have stimulated strong economic growth, combined with proposals to cut wasteful spending, will lead America toward a sustainable financial path,” Mnuchin said. But William Gale, a senior fellow at the Brookings Institution, noted that the tax cuts are unlikely to generate a long-term bump in economic growth
The deficit is Ryan’s biggest nightmare….which in itself is a self inflicted wound…..because of the GOPs policies the deficit expands…..
Rep. Paul Ryan said one of the biggest disappointments from his term as House speaker was his inability to address the growing mountain of federal debt.
“On healthcare itself and debt and deficits, it’s the one that got away,” Ryan said at a Washington Post event.
As speaker, Ryan helped oversee a rise in spending that is already adding to the deficit. Under his tenure, the amount of outstanding federal debt grew by just over $2 trillion, and the federal deficit expanded from $438 billion in the 2015 fiscal year to $779 billion in the 2018 fiscal year.
2019 will bring the GOP chest thumping about the deficit…..any person that watches our system at work can see just how hypocritical the GOP is…always…..
It gets humorous at the attacks on the people of the US as the cause of the deficit soaring……the truth (no GOPer wants to hear that)….is their massive budget increases for the Pentagon and then those worthless tax cuts of 2018 have done more than any entitlement program.
Of course the GOP will say that Dems hate the Pentagon and the military and that they do not want Americans to have more money……THEY ARE LIES!
The honest approach would be to have all income including bonuses pay into the system….and that taxes be paid according to income…..those are simple fixes that will go NO where.
For those that want to debate entitlement reform……this is a collection of cards that can be printed and used as a reference….