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Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates

 
Fast and Bulbous
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Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
The U.S. budget deficit will surpass $1 trillion by 2020, two years sooner than previously estimated, as tax cuts and spending increases signed by President Donald Trump do little to boost long-term economic growth, according to the Congressional Budget Office.

Spending will exceed revenue by $804 billion in the fiscal year through September, jumping from a projected $563 billion shortfall forecast in June, the non-partisan arm of Congress said in a report Monday. In fiscal 2019, the deficit will reach $981 billion, compared with an earlier projection of $689 billion.

The nation’s budget gap was only set to surpass the trillion-dollar level in fiscal 2022 under CBO’s report last June.

[link to www.bloomberg.com (secure)]
Fast and Bulbous  (OP)

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09/11/2018 10:34 PM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
Here is the link to the CBO report:

Another finding is that government spending is up 7% for the first 11 months of FY 2018 with receipts up by 1%.

CBO estimates that the federal government incurred a deficit of $211 billion in August 2018—$104 billion more than the shortfall in August 2017.

[link to www.cbo.gov (secure)]
jake

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09/11/2018 10:37 PM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
republican criminals in office still refusing to fund the border wall
Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance!

Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes."
Fast and Bulbous  (OP)

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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
republican criminals in office still refusing to fund the border wall
 Quoting: jake


Not sure what your point is or how that is causing the deficit to increase faster than expected. Wouldn't spending money on The Wall result in more expenditures and therefor more deficit?
Jillian Snark

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09/13/2018 10:48 PM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
So this will accelerate the deficit even more:

Thread: House Republicans advance second round of tax cuts!
BUD WHITE

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09/13/2018 10:49 PM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
Thank the Kenyan Barry Soetero for this.
Jillian Snark

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09/14/2018 12:12 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
New GOP tax cuts would add $3.8 trillion to deficit

A second round of GOP tax cuts would add $3.8 trillion to the federal deficit over the next two decades, according to a report released this week by the Urban-Brookings Tax Policy Center.

A bill that the House Ways and Means Committee approved Thursday, "Protecting Family and Small Business Tax Cuts Act of 2018," would reduce federal revenue by $631 billion from FY 2019-28 and an additional $3.15 trillion between FY 2029-38, the group estimated.

[link to thehill.com]
jake

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09/14/2018 12:18 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
thanks to Obamacare
Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance!

Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes."
jake

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09/14/2018 12:19 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
get rid of Illegal Immigrants on the federal dole

get rid of Obamacare

and the budget balances itself
oh and I left out 3 hurricanes




commie4

Last Edited by Mikey Likes it on 09/14/2018 12:21 AM
Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance!

Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes."
Fast and Bulbous  (OP)

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09/14/2018 12:24 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
thanks to Obamacare
 Quoting: jake


Guess you didn't read the CBO report, which concludes:

Deficits are growing as the Trump administration enacted a tax overhaul this year that will lower federal revenue and Congress approved a roughly $300 billion spending increase.
jake

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09/14/2018 12:26 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
thanks to Obamacare
 Quoting: jake


Guess you didn't read the CBO report, which concludes:

Deficits are growing as the Trump administration enacted a tax overhaul this year that will lower federal revenue and Congress approved a roughly $300 billion spending increase.
 Quoting: Fast and Bulbous


The CBO Report has been found to be 100% inacurate

100% of the time for the last 100 years.
Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance!

Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes."
jake

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09/14/2018 12:28 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
thanks to Obamacare
 Quoting: jake


Guess you didn't read the CBO report, which concludes:

Deficits are growing as the Trump administration enacted a tax overhaul this year that will lower federal revenue and Congress approved a roughly $300 billion spending increase.
 Quoting: Fast and Bulbous


The CBO Report has been found to be 100% inacurate

100% of the time for the last 100 years.
 Quoting: jake


basically they are the world biggest joke


They add 2+2 and come up with 23
Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance!

Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes."
Wondering Mind

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09/14/2018 12:28 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
republican criminals in office still refusing to fund the border wall
 Quoting: jake


Worse than that they still are pushing the labor market manipulation of workers wages and work opportunities even their rights to work.
What once was EEOC for a selection of the few, is now an issue of all American citizens who are discriminated against, for foreign in-sourced to out-source from within our Nation immigrants legal or not and that to fight against the Americans workers wages and having to hire them.
These terms are short while the supply of those who seek to undermine us is massive.
They support Sanctuary status to undermine our labor laws and wages in our own Nation and under our own Government that allows it even though it is illegal.

Where is my revenue? It went out under the table and so did our livelihoods and basic needs and even lives.
Screw them.

Last Edited by Wondering Mind on 09/14/2018 12:31 AM
The most precious things are the simple things in life, always present in the simplest of minds.
Jillian Snark

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09/14/2018 12:32 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
thanks to Obamacare
 Quoting: jake


Guess you didn't read the CBO report, which concludes:

Deficits are growing as the Trump administration enacted a tax overhaul this year that will lower federal revenue and Congress approved a roughly $300 billion spending increase.
 Quoting: Fast and Bulbous


The CBO Report has been found to be 100% inacurate

100% of the time for the last 100 years.
 Quoting: jake


I had not seen that study. Got a link to the reference you quoted?
Jillian Snark

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09/14/2018 12:33 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
thanks to Obamacare
 Quoting: jake


Guess you didn't read the CBO report, which concludes:

Deficits are growing as the Trump administration enacted a tax overhaul this year that will lower federal revenue and Congress approved a roughly $300 billion spending increase.
 Quoting: Fast and Bulbous


The CBO Report has been found to be 100% inacurate

100% of the time for the last 100 years.
 Quoting: jake


I had not seen that study. Got a link to the reference you quoted?
 Quoting: Jillian Snark


This one only runs through 2017 and it looks pretty good to me:

[link to www.cbo.gov (secure)]
jake

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09/14/2018 12:38 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
thanks to Obamacare
 Quoting: jake


Guess you didn't read the CBO report, which concludes:

Deficits are growing as the Trump administration enacted a tax overhaul this year that will lower federal revenue and Congress approved a roughly $300 billion spending increase.
 Quoting: Fast and Bulbous


The CBO Report has been found to be 100% inacurate

100% of the time for the last 100 years.
 Quoting: jake


I had not seen that study. Got a link to the reference you quoted?
 Quoting: Jillian Snark


everybody in Congress knows CBO is a joke

every figure they have ever

quoted has been Wrong 100% of the time

The Proof is in every single figure they have

ever posted or budgeted has been wrong 100% of the time
Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance!

Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes."
jake

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09/14/2018 12:39 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
The CBO has never been right in its entire

history about a single figure

not even once.
Evil controls the ignorant... Climate change is a hoax so is the vax you have been fear-porned into compliance!

Definition Satan from the bible: Satan (Rev 12:7) exercising his subtle (indirect) impact on heathen governments (powers) – i.e. accomplishing his hellish agenda from "behind the scenes."
Wondering Mind

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09/14/2018 12:55 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
The CBO has never been right in its entire

history about a single figure

not even once.
 Quoting: jake


ACA comes to mind.
The most precious things are the simple things in life, always present in the simplest of minds.
Wondering Mind

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09/14/2018 12:57 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
Worst comes from The Department of Commerce.
The most precious things are the simple things in life, always present in the simplest of minds.
ArgleBargle

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09/23/2018 09:40 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
The U.S. federal budget deficit for fiscal year 2019 is $985 billion. FY 2019 covers October 1, 2018 through September 30, 2019. The deficit occurs because the U.S. government spending of $4.407 trillion is higher than its revenue of $3.422 trillion.

The deficit is 18 percent greater than last year. The FY 2018 budget created a $833 billion deficit. Spending of $4.173 was greater than the estimated $3.340 revenue.

[link to www.thebalance.com (secure)]
Anonymous Coward
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09/23/2018 09:46 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
What are the actual numbers this year. I know Peter Schiff posted an image showing it was pretty bad. Where do you look this information up?
ArgleBargle

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09/23/2018 09:49 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
What are the actual numbers this year. I know Peter Schiff posted an image showing it was pretty bad. Where do you look this information up?
 Quoting: ISetFire


Congressional Budget Office:

The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, the Congressional Budget Office estimates, $222 billion more than the shortfall recorded during the same period last year. Revenues were 1 percent higher than in the same period in fiscal year 2017, but outlays rose by about 7 percent.

[link to www.cbo.gov (secure)]
Anonymous Coward
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09/23/2018 09:59 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
What are the actual numbers this year. I know Peter Schiff posted an image showing it was pretty bad. Where do you look this information up?
 Quoting: ISetFire


Congressional Budget Office:

The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, the Congressional Budget Office estimates, $222 billion more than the shortfall recorded during the same period last year. Revenues were 1 percent higher than in the same period in fiscal year 2017, but outlays rose by about 7 percent.

[link to www.cbo.gov (secure)]
 Quoting: ArgleBargle


Yikes...

Social Security: 1.046 trillion
Medicare: 625 billion
Medicaid: 412 billion
Discretionary budget: 1.203 trillion
-half to military like VA and defense departments
-half to all other domestic programs
Military Budget: 886 billion


I'm pissed off. They take out a BOAT load of money for social security. Yet it needs budgeted? All because these assholes kicked the can down the road and dipped into the 'locked box'. Fucking disgusting. The military needs scaled back as well. The spending is exceeding small countries GDP for crying out loud.
Halsey Knox

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09/23/2018 10:00 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
We need to END THE FED and end it NOW!

Revoke their fucking charter. Execute every last one of the scumbags, write an amendment to the Constitution preventing them from ever forming again, give the power to print & control the money supply back to congress and write down all debt based on their bullshit policies.

Maybe some of that is unrealistic but I'm fucking tired of being a goddamn debt slave and having to worry about my future because a bunch of greedy, lunatics print money out out of thin air and force us to pay back the interest on their fake bullshit to the tune of TRILLIONS of dollars.

End The Fed and The Central Bank and free mankind!!!!

rant
"THE conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country."
-Edward Bernays
Anonymous Coward
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09/23/2018 10:02 AM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
The social security thing is so fucking enraging. I'm not sure why people aren't more up in arms about it. I guess we are so use to getting bent over.

Some Guy in Indiana

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09/23/2018 10:14 AM

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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
Thank the Kenyan Barry Soetero for this.
 Quoting: BUD WHITE


odance
ArgleBargle

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09/24/2018 08:16 PM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
Thread: How do you win a trade war when trade deficits are rising?
ArgleBargle

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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
Right on track.....

Thread: Budget deficit tops $100,500,000,000 in October - an increase of 60% from a year earlier
ArgleBargle

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11/13/2018 09:58 PM
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
republican criminals in office still refusing to fund the border wall
 Quoting: jake


Thus adding another few billion to the deficit.

Fiscal conservatives anyone?
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Re: Congressional Budget Office: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates
Thread: US government is running out of money faster than expected, Mnuchin warns





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