Debt Explosion

Of all the stupid things our politicians do, this is the one that will destroy our economy and our country. And we just keep electing them because we don’t care.

The U.S. budget deficit increased by $140 billion during the first nine months of this budget year to $747.1 billion as government revenues and spending both hit records.

The Treasury Department reported Thursday that the deficit for the current fiscal year through June is up 23.1% over the same period a year ago with receipts rising by 2.7% while spending increased 6.6%.

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.

The Congressional Budget Office is not quite so pessimistic for this year, forecasting a deficit of $896 billion this year. But the CBO projects that deficits will top $1 trillion beginning in 2022 and will remain above $1 trillion annually through 2029.

7 Responses to Debt Explosion

  1. steveegg says:

    This is your periodic reminder that:

    – It’s the spending, stupid.

    – Voters and politicians are stupid because nobody, and I mean NO BODY, wants to actually address either the deficit or the debt.

  2. Kevin Scheunemann says:

    With Democrats controlling house, of course deficit will explode!

    Did country expect they elected a Congress with restraint?

    Grubby liberals will spend everything.. and then some.

  3. Le Roi du Nord says:

    “With Democrats controlling house, of course deficit will explode!”

    Another great example of how little you actually know about the federal budgeting process.  But you sure aren’t shy about sharing that lack of knowledge.  Keep it up.

  4. Kevin Scheunemann says:

    Nord,

    Democrats are spenders.

    Trump will cooperate with spenders in order to make the deal.

    Why are we surprised Democrat influence balloons the deficit….it is a universal constant…like breathing.

  5. Le Roi du Nord says:

    And again, you doubled down on your lack of knowledge.  This is kinda fun…

    Question:   How much did it cost the taxpayers to put on 45’s ego driven military show on the 4th?

    Question:  Which RAAF (Revolutionary Army Air Force) general was in command when they took over the British airports?

    A self-proclaimed smart guy like yourself should be able to answer those, right?

  6. jjf says:

    So brave!  “Our politicians.”

    Can’t quite blame the President or GOP out loud, right?

  7. jonnyv says:

    Everyone likes to pass the buck. For 8 years all I heard was that it was Obama’s fault that the debt was increasing even with congress being controlled by Reps (even tho the deficit was decreasing most years). Now that we have a R in the WH it is the House’s fault (according to Kevin).

    Here is the reality. No one has the balls to cut any significant spending. And just like everyone with a brain predicted the tax cuts that Trump put in place did nothing but blow up the deficit by decreasing the revenue. There is no evidence that it helped out an economy that was already doing well. When the economy is doing well no one wants to take a risk and raise taxes for fear of breaking that, and when the economy is crap raising taxes is unfathomable of.

    Like it or not, the only way we get out of this mess is if we raise taxes, close corporate loopholes, AND cut spending. We are too deep in the hole to do it any other way. Until those things are all addressed, this will just continue to be a problem.

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