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Thread: The deficit: Not as bad as they want you to think

  1. #11
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    Joined: Oct 2017 Location: Glendale Posts: 8,136
    As it turns out, we didn't have to wait until 2022 for a trillion-dollar deficit. The deficit is now $1,090,000,000,000 and is projected to reach $1,101,000,000,000 in 2020. I can't even count that high!

    US deficit tops $1 trillion in first 11 months of fiscal year, Treasury says

    https://www.wsj.com/articles/u-s-def...ys-11568311201

    US budget deficit by year compared to GDP, debt increase and events

    https://www.thebalance.com/us-deficit-by-year-3306306

  2. #12
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    While campaigning for President, Donald Trump promised to reduce the federal deficit and eliminate the national debt if he's elected. Yeah, let's see how that has been working out:

    US budget deficit finishes just short of $1 trillion for fiscal 2019

    https://www.cnn.com/2019/10/25/polit...019/index.html

  3. #13
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    When he launched his Presidential campaign in 2015, Donald Trump promised to "reduce our $18 trillion in debt." That was a lie. In March 2016, he told the Washington Post he would get rid of the debt "fairly quickly. I would say over a period of eight years." That was a lie. In December 2016, he promised to "freeze the budget." That was a lie. In January 2017, he told Sean Hannity he would "balance the budget very quickly, I think over a five-year period. And I don’t know, maybe I could even surprise you." That was a lie. And now for today's news:

    US deficit projected to hit $1 trillion milestone in 2020
    UPI, Jan 28 2020 3:12 PM

    The US budget deficit is projected to surpass $1 trillion this year, the first time it's hit that milestone since 2012, the Congressional Budget Office said today. The deficit will likely hit $1.02 trillion in 2020 and will average $1.3 trillion each year between 2021-30, representing about 5.4% of the GDP. The new report indicates the national debt will reach $31.4 trillion by 2030, up from previous estimates. The CBO blames the rising deficit and debt on the 2017 tax cuts and an increase in new federal spending. The estimates are based on the assumption that Congress will allow tax cuts passed in 2017 to expire in 2025. Republicans plan to try to extend those cuts.

    https://www.upi.com/Top_News/US/2020...6271580238622/

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