On The Deficit, GOP Has Been Playing Us All For Suckers

To say we're all being played by House and Senate Republicans and the Trump administration when it comes to the deficit is my polite way of saying that the GOP is operating the federal equivalent of a huge budget bunco game.

Think of it as three-card monte with you betting billions on which card is the queen of hearts and you'll get the idea.

The Congressional Budget Office last Monday released a report that for the first time officially projected the federal deficit rising to almost $1 trillion in 2019 and then staying at or well above that previously unfathomable level every year through 2028.

As I first pointed out in this post, these projections almost certainly underestimate the actual deficit that will occur because CBO assumes that current law will be followed. In this case, that means assuming that the individual cuts put in place by last year's tax bill that are set to phase out will, in fact, expire as scheduled. As Catherine Rampell noted in the Washington Post last Friday, if, as seems likely, the cuts are extended, the budget deficit will be an additional $2.6 trillion higher than what CBO estimated.

Just a few months after the tax bill was signed, the GOP-controlled Congress agreed to increase federal spending and the budget deficit by another $130 billion or so.

Think about this. The same congressional Republicans who over the previous eight years wanted everyone to believe they were fiscal conservatives hell-bent on balancing the budget and not increasing the national debt, sponsored, passed and then danced around the fire because of legislation that will result in a permanent $1 trillion deficit and a debt that will soar to close to 100 percent of GDP by 2028.

 

And...House and Senate Republicans were enabled by a GOP president who during his campaign said he would eliminate the deficit and completely pay off the debt.

But it's not just that congressional Republicans and Trump faked far right and then actually went far left with these two bills that makes what they're doing a federal budget confidence game. They also:

1. Hid the real cost of the tax cut with the phaseouts so they could claim they were being fiscally judicious while they were actually being economically reckless.

2. First insisted the tax cuts would pay for themselves and then admitted in the president's fiscal 2019 budget released several months later that they would actually increase the deficit, big-time.

3. Viciously attacked the nonpartisan and very credible Congressional Budget Office for not producing cost estimates that made it easier for them to do what they wanted.

4. Enacted a huge tax cut that skyrocketed the deficit and a $1.3 trillion fiscal 2019 omnibus appropriation that increased it further and then insisted that the real problem is Social Security, Medicare and Medicaid.

5. Continually complained about mandatory spending but, even though they had the majority in both houses of Congress and control of the White House, didn't seriously try to do anything about it.

6. Refused to do a fiscal 2019 budget resolution because, after first enacting the tax and spending legislation that blasted the annual federal budget deficit to over $1 trillion, didn't want GOP members to have go on record in favor of those same deficits.

7. Kept saying that the deficit problem was because the congressional budget process is broken when, in fact, the process has actually enabled the GOP House and Senate Republican majorities to do exactly what they've wanted to do and hasn't forced them to do anything they've wanted to avoid.

8. First enacted legislation that created the permanent trillion-dollar deficits and then had the unmitigated temerity to demand that the House vote on an amendment to the U.S. Constitution that would make it illegal for the federal government to run deficits.

9. Implied that the tax cuts and military spending increases they support (and the growing interest payments on the debt caused by those tax cuts and military spending increases) don't have an impact on the deficit.

10. Made it clear that, at the same time they want to reduce revenues and increase funds for the Pentagon, only the domestic part of the budget should be cut.

Just like winning a game of three-card monte played on a cardboard box on a street corner, none of what we're being told about the budget by congressional Republicans and the Trump White House is real. But based on how they've operated so far, they obviously think they can keep running this game successfully.

 

https://www.forbes.com/sites/s...uckers/#6aacbaee4694

Original Post
Kraven posted:
It takes money to repair eight years of stupidity, the damage is
typical socialism and costly. Couldn't be any more ridiculous.

I just wanted to make sure you didn't delete that comment. I'm gonna nominate it for the most ignorant post of the year, when the time comes.

challenge isn't GOP,, it is all of congress.  We do not have a tax challenge we have a spending challenge.  Trump didn't want to sign the budget, however gave in to congress.  Every time a cut is brought up, someone cries.  Until we realize we can't be everything and support everyone there isn't any hope.   I stopped working on charity programs because somewhere someone decided the hand outs should be the new and the best.   Remember the daycare for single moms to go to college.  The cost was triple what a working family paid for daycare. It would have been cheaper just to pay for their daycare.   Every bill has special interest pork, even Obamacare.  The Constitution says protect our borders, yet we let illegals walk across then support them.  We bring refugees here and support them. While much of the working class has to take mega loans to send their children to college.  Much  of working class can't afford insurance but were getting fined because they didn't have insurance.   Often I hear we are a rich country, yet we are trillions in debt.

Only solution I see is the people agree to vote them all out.

The GOP had plenty to say the previous 8 years. Since Trump's takeover, the purse strings have not been tied. Trump is adding to the deficit at a faster rate than Obama could dream, the GOP's answer, YES! What happened in the past 8 years to change their mind? Could it be that a Democrat isn't in office and now they don't care? Could it be they just couldn't support a Democrat? What exactly changed their opinion?

lol Wabbit,, difference of Republican and dimocrats ,,,,, dimocrats vote how their crazy leaders tell them.   Republicans are made up of different groups and don't follow without question.   there are moderates, tea party, libertarian and more.  They have discussions and difference of opinions.  This leans to them being about America where dimocrats doing what the crazies tell them to do leads to them about party over country.

Remember it takes along time to turn a big boat.   Plus again all the crybabies that want their free hand outs.   just like the idiots waving flags of other countries,  we are full of anti-americans mostly in the democrat party.

1130 posted:

lol Wabbit,, difference of Republican and dimocrats ,,,,, dimocrats vote how their crazy leaders tell them.   Republicans are made up of different groups and don't follow without question.   there are moderates, tea party, libertarian and more.  They have discussions and difference of opinions.  This leans to them being about America where dimocrats doing what the crazies tell them to do leads to them about party over country.

Remember it takes along time to turn a big boat.   Plus again all the crybabies that want their free hand outs.   just like the idiots waving flags of other countries,  we are full of anti-americans mostly in the democrat party.

Anti-American? The GOP? They're spending money like sailors on s**** leave and your reply is 'dimocrats are un-American'? You just lost all credibility. You support the party in power now, and as such, you get to shoulder the responsibility of their actions. The Republicans have shown party over country, repeatedly, and your reply is to gaslight Democrats? Republicans just gave out $1trillion in corporate handouts and you're gonna whine about 'dimocrats wanting handouts'? Just WOW. Talk about being un-American. Make sure you insult over half the country in your ignorant defense.

lol,,,, whine much?   corporate handouts? you mean not over taxing them?  over taxation is theft.  especially when you tax for your wants, not government needs.  All these social programs aren't needs,,, your just stealing from one and giving to another.   

 

The projected 2019 deficit was based upon non-dynamic scoring - that tax revenue will not increase due to tax rate reductions.  Such occurred during the last three major tax reductions.

TAX CUT RESULTS

The results are normalized for inflation by the Obama OMB.

Tax revenue has increased for the first three months of 2018.

 

 

 

 

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Challenge with what you call "facts" is who's facts are they.   CNN, Fox, NBC etc. have been caught twisting to their point of view.   My belief is we have a spending challenge not a tax challenge.  How much should be spent on social programs?  How much should be spent on countries that hate us?  At what point what we spent our share on refuges? or Illegals?  Then add local area taxing. At what point does it stop being a tax and become theft?   Voting to take someone's money to give to your special interest is just legal stealing.   Taxes should be for essentials, IE; roads, safety, education.  However even those have major waste.  Government is the worst management example and we pay to much for them to manage our country.  They have robbed Social Security, miss spent everywhere and allowed trillions in scam.

However back to GOP,,, many republican voters believe 30% (give or take) of elected are actually democrats.  There lies our problem

1130 posted:

Challenge with what you call "facts" is who's facts are they.   CNN, Fox, NBC etc. have been caught twisting to their point of view.   My belief is we have a spending challenge not a tax challenge.  How much should be spent on social programs?  How much should be spent on countries that hate us?  At what point what we spent our share on refuges? or Illegals?  Then add local area taxing. At what point does it stop being a tax and become theft?   Voting to take someone's money to give to your special interest is just legal stealing.   Taxes should be for essentials, IE; roads, safety, education.  However even those have major waste.  Government is the worst management example and we pay to much for them to manage our country.  They have robbed Social Security, miss spent everywhere and allowed trillions in scam.

However back to GOP,,, many republican voters believe 30% (give or take) of elected are actually democrats.  There lies our problem

Not so much Democrats as swamp critters out for power/ 

 

1130 posted:

Challenge with what you call "facts" is who's facts are they.   CNN, Fox, NBC etc. have been caught twisting to their point of view.   My belief is we have a spending challenge not a tax challenge.  How much should be spent on social programs?  How much should be spent on countries that hate us?  At what point what we spent our share on refuges? or Illegals?  Then add local area taxing. At what point does it stop being a tax and become theft?   Voting to take someone's money to give to your special interest is just legal stealing.   Taxes should be for essentials, IE; roads, safety, education.  However even those have major waste.  Government is the worst management example and we pay to much for them to manage our country.  They have robbed Social Security, miss spent everywhere and allowed trillions in scam.

However back to GOP,,, many republican voters believe 30% (give or take) of elected are actually democrats.  There lies our problem

My facts came from that bastion of the DNC, the Congressional Budget Office. Where did your facts come from, Fox Entertainment, Breitbart, or Infowars?

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