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(The Hill)   Even the White House Office of management and Budget now admits the Deficit will be over $1 Trillion next years, and that number will get worse if the economic growth rate doesn't hit 3% next year--which few people think it will   ( thehill.com) divider line
    More: Fail, White House, Economic growth, budget, President of the United States, midyear budget projections, Congressional Budget Office, annual budget review, Macroeconomics  
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1295 clicks; posted to Politics » on 17 Jul 2018 at 10:38 PM (4 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



102 Comments     (+0 »)
 
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2018-07-17 06:13:53 PM  
"Obvious" tag busy panhandling on a street corner.
 
2018-07-17 06:46:09 PM  
Is it too soon for the I told you so chorus?
 
2018-07-17 07:01:50 PM  
TAX
THE
RICH
 
2018-07-17 07:23:52 PM  
This won't be like the recession Dubya caused, it will be a full blown depression.  Currency devaluation, massive unemployment, the whole shebang.
 
2018-07-17 07:44:47 PM  
No way that we drop TPP and not take a hit.

No way that we throw NAFTA and the WTO into doubt and not take a hit.

No way that we constrict our labor force through sudden immigration policy shifts and not take a hit.

No way that we implement tariffs on at least 15% of our imports (announced to date) and not take a hit.

There aren't enough tax cuts in the world to prevent this from becoming a recession.
 
2018-07-17 08:24:07 PM  
The "Fail" tag isn't really appropriate here. Ballooning deficits are a feature, not a bug. It's an excuse to gut the social safety net.
 
2018-07-17 10:40:03 PM  
Good thing that we cut all those taxes to unleash the beast, right?

Hey, where's everyone going?

Can we just admit that Donnie has been looking to tank the economy for his bestie, yet? Can we just admit it? This was the whole plan, and tax cuts were the plum to dangle in front of Congress for their complicity, and then shoving NAFTA and TPP along with starting a BUNCH of trade pissing contests...that's been icing to keep the US from getting ideas about doing much internationally for a bit, as we try to sort out our domestic situation out, which is pushing towards calamity as we bait every racist dickbag to out himself in front of angry mobs of folks who are getting a mite tired of the bullsh*t...
 
2018-07-17 10:40:14 PM  

Jake Havechek: This won't be like the recession Dubya caused, it will be a full blown depression.  Currency devaluation, massive unemployment, the whole shebang.


That's a small price to pay if we get to see mass suicides on Wall Street again.
 
2018-07-17 10:40:17 PM  
Buying a wheelbarrow....for the cash it will take to buy anything.
 
2018-07-17 10:41:00 PM  
And republicans want yet another round of tax cuts.

These assholes would suck at Sim City.
 
2018-07-17 10:41:39 PM  

doglover: TAX
THE
RICH


But no poor person has given me a job.  Only rich people give jobs.  If I work hard I can join their ranks.

/I read that in a comments section.
 
2018-07-17 10:42:46 PM  

Farkin_Crazy: And republicans want yet another round of tax cuts.

These assholes would suck at Sim City.


img.fark.netView Full Size
 
2018-07-17 10:44:49 PM  
Nah man you don't have enough faith we're still on the wrong side of the laffer curve we just need to cut more! We're never on the right side. Ever
 
2018-07-17 10:45:01 PM  
If Trump walks past a soup line and exclaims "All that winning made ya hungry, huh?" I hope some hobo shoves a tin can up his fat ass.
 
2018-07-17 10:47:00 PM  
Any "conservative" that wants to keep our military funding at it's current rate, cut domestic services, and slash taxes on the rich should get a swift kick in the nuts.  Running a country is hard, and deserves attention from people with an actual education on appropriate topics who aren't just out for themselves.
 
2018-07-17 10:47:07 PM  
img.fark.netView Full Size
 
2018-07-17 10:47:50 PM  
That's ok because the people benefiting from all those tax cuts will be dead by the time the bill comes due.
 
2018-07-17 10:48:13 PM  
But....but wait! Trump said!
 
2018-07-17 10:48:21 PM  

Mad_Radhu: Jake Havechek: This won't be like the recession Dubya caused, it will be a full blown depression.  Currency devaluation, massive unemployment, the whole shebang.

That's a small price to pay if we get to see mass suicides on Wall Street again.


Wall street doesn't commit suicide. They still have money left over. It's regular people who lose their farm, business, or house that kill themselves. Source
 
2018-07-17 10:48:26 PM  
Should I be looking for somewhere other than index funds to park my retirement accounts?
 
2018-07-17 10:48:36 PM  

Mad_Radhu: Jake Havechek: This won't be like the recession Dubya caused, it will be a full blown depression.  Currency devaluation, massive unemployment, the whole shebang.

That's a small price to pay if we get to see mass suicides on Wall Street again.


Since normal people don't actually own anything anymore, we're all boned.
 
2018-07-17 10:49:05 PM  
Bad speling =green lighte
 
2018-07-17 10:49:34 PM  
https://www.frbatlanta.org/cqer/resea​r​ch/gdpnow.aspx

Don't know what experts you've been talking to but if the quarters keep hitting that, 3% is easy.
 
2018-07-17 10:49:34 PM  
Trump loves grand and glorious things. His depression will be both.
 
2018-07-17 10:53:05 PM  
It's like someone visited a shiathole like Oklahoma and said "this should be the entire country."
 
2018-07-17 10:53:05 PM  

hubiestubert: Good thing that we cut all those taxes to unleash the beast, right?

Hey, where's everyone going?

Can we just admit that Donnie has been looking to tank the economy for his bestie, yet? Can we just admit it? This was the whole plan, and tax cuts were the plum to dangle in front of Congress for their complicity, and then shoving NAFTA and TPP along with starting a BUNCH of trade pissing contests...that's been icing to keep the US from getting ideas about doing much internationally for a bit, as we try to sort out our domestic situation out, which is pushing towards calamity as we bait every racist dickbag to out himself in front of angry mobs of folks who are getting a mite tired of the bullsh*t...


While I agree, the problem is this. Too many people believe in the general concept of POTUS and Commander in Chief as institutions and not a person. People have difficulty separating the two.
 
2018-07-17 10:54:51 PM  
Even the White House Office of mManagement and Budget now admits the Ddeficit will be over $1 Ttrillion next years

FTF the English language.
 
2018-07-17 10:55:00 PM  
img.fark.netView Full Size
 
2018-07-17 10:55:20 PM  

Kuoxasar: It's like someone visited a shiathole like Oklahoma and said "this should be the entire country."


More like Kansas.
 
2018-07-17 10:56:23 PM  
So, it's doing exactly what it was designed to do; further enrich the rich, and fark everyone else.
 
2018-07-17 10:56:55 PM  

hubiestubert: Good thing that we cut all those taxes to unleash the beast, right?

Hey, where's everyone going?

Can we just admit that Donnie has been looking to tank the economy for his bestie, yet? Can we just admit it? This was the whole plan, and tax cuts were the plum to dangle in front of Congress for their complicity, and then shoving NAFTA and TPP along with starting a BUNCH of trade pissing contests...that's been icing to keep the US from getting ideas about doing much internationally for a bit, as we try to sort out our domestic situation out, which is pushing towards calamity as we bait every racist dickbag to out himself in front of angry mobs of folks who are getting a mite tired of the bullsh*t...


LoL, same story as always, but itit not like '05 or '08. People are spending and yeah, I understand scarey trummpy but lol, same shiat and arguments. Probably didn't even know back in the 60s-70s that there were politicians complaining about Europe/NATO not living up to 5.6 or so of GNP or GDP whichever.
 
2018-07-17 10:57:51 PM  

Farkin_Crazy: Kuoxasar: It's like someone visited a shiathole like Oklahoma and said "this should be the entire country."

More like Kansas.


They're the North and South Dakota of the Trash Belt, don't try differentiating them on me.

Still, at least neither of them contain Scottsdale, Arizona.
 
2018-07-17 10:59:25 PM  

tinfoil-hat maggie: hubiestubert: Good thing that we cut all those taxes to unleash the beast, right?

Hey, where's everyone going?

Can we just admit that Donnie has been looking to tank the economy for his bestie, yet? Can we just admit it? This was the whole plan, and tax cuts were the plum to dangle in front of Congress for their complicity, and then shoving NAFTA and TPP along with starting a BUNCH of trade pissing contests...that's been icing to keep the US from getting ideas about doing much internationally for a bit, as we try to sort out our domestic situation out, which is pushing towards calamity as we bait every racist dickbag to out himself in front of angry mobs of folks who are getting a mite tired of the bullsh*t...

LoL, same story as always, but itit not like '05 or '08. People are spending and yeah, I understand scarey trummpy but lol, same shiat and arguments. Probably didn't even know back in the 60s-70s that there were politicians complaining about Europe/NATO not living up to 5.6 or so of GNP or GDP whichever.


Never saw anyone say "whatabout Johnson" before.
 
2018-07-17 10:59:42 PM  
I mean, they said it was going to result in huge deficits when it was being debated.

The GOP, in their America-hating fervor, passed it anyway.

They're like idiots on a long road trip. The gas tank needs to be filled and the car tells them they're 50 miles from empty and they pass a sign saying 48 miles to the gas station.

So they say "Put the pedal to the metal!". Then they burn a bunch of gas for no reason and the car says they have three miles worth of gas and the sign says 15 miles to go, so they start throwing everything they can out of the car, incinciuding Grandma and some children. Then they're stuck beside the side of the road, 10 miles away from the next gas station, all of their sh*t gone, so they set the car on fire, call a tow truck, and get a ride from someone else.

Meanwhile, everything that got them to that point is left to die. Oh, and of course they immediately start whining to the tow truck driver that they don't like the way he drives. He should really go faster.
 
2018-07-17 10:59:51 PM  

nacker: Any "conservative" that wants to keep our military funding at it's current rate, cut domestic services, and slash taxes on the rich should get a swift kick in the nuts.  Running a country is hard, and deserves attention from people with an actual education on appropriate topics who aren't just out for themselves.


There's reasons, and reasons I called myself a tin foiler, lol.
 
2018-07-17 11:00:45 PM  

Gyrfalcon: But....but wait! Trump said!


And?
 
2018-07-17 11:01:20 PM  

Ow! That was my feelings!: [img.fark.net image 720x528]


img.fark.netView Full Size
 
2018-07-17 11:02:47 PM  
Another round of tax cuts could easily solve this issue
 
2018-07-17 11:03:07 PM  

Mrbogey: https://www.frbatlanta.org/cqer/resea​r​ch/gdpnow.aspx

Don't know what experts you've been talking to but if the quarters keep hitting that, 3% is easy.


Yes, let's pin all our hopes and dreams on one unverified, unofficial model.
 
2018-07-17 11:03:10 PM  

Gyrfalcon: tinfoil-hat maggie: hubiestubert: Good thing that we cut all those taxes to unleash the beast, right?

Hey, where's everyone going?

Can we just admit that Donnie has been looking to tank the economy for his bestie, yet? Can we just admit it? This was the whole plan, and tax cuts were the plum to dangle in front of Congress for their complicity, and then shoving NAFTA and TPP along with starting a BUNCH of trade pissing contests...that's been icing to keep the US from getting ideas about doing much internationally for a bit, as we try to sort out our domestic situation out, which is pushing towards calamity as we bait every racist dickbag to out himself in front of angry mobs of folks who are getting a mite tired of the bullsh*t...

LoL, same story as always, but itit not like '05 or '08. People are spending and yeah, I understand scarey trummpy but lol, same shiat and arguments. Probably didn't even know back in the 60s-70s that there were politicians complaining about Europe/NATO not living up to 5.6 or so of GNP or GDP whichever.

Never saw anyone say "whatabout Johnson" before.


B..but...but his telexes!!!
 
2018-07-17 11:04:18 PM  

Gyrfalcon: tinfoil-hat maggie: hubiestubert: Good thing that we cut all those taxes to unleash the beast, right?

Hey, where's everyone going?

Can we just admit that Donnie has been looking to tank the economy for his bestie, yet? Can we just admit it? This was the whole plan, and tax cuts were the plum to dangle in front of Congress for their complicity, and then shoving NAFTA and TPP along with starting a BUNCH of trade pissing contests...that's been icing to keep the US from getting ideas about doing much internationally for a bit, as we try to sort out our domestic situation out, which is pushing towards calamity as we bait every racist dickbag to out himself in front of angry mobs of folks who are getting a mite tired of the bullsh*t...

LoL, same story as always, but itit not like '05 or '08. People are spending and yeah, I understand scarey trummpy but lol, same shiat and arguments. Probably didn't even know back in the 60s-70s that there were politicians complaining about Europe/NATO not living up to 5.6 or so of GNP or GDP whichever.

Never saw anyone say "whatabout Johnson" before.


Focus, if history is a what aboutism then you failled. And lost my respect.
Have a good evening.
 
2018-07-17 11:04:36 PM  
When Democrats get back in power, they need to blow their legislative load on a massive tax hike using the same reconciliation shenanigans McConnell did. But target it to crush Republicans, like a national $25 per ton sales tax on coal. Reverse as much of the crap as possible, but get ZERO GOP input, even if they wanted to offer it.

Then once the President signs it, start talking about bipartisanship.
 
2018-07-17 11:05:50 PM  

GoldSpider: Should I be looking for somewhere other than index funds to park my retirement accounts?


They have funds that blend indexed stocks with bonds and currencies. The strategy is to trade right - profit form stocks when they are rising, retreat into safer waters when the market softens.
That's what I'm in right now.
There's really no safe place to put your money right now, tho - there's a goddamn loon in charge, for the time being. He could literally f**k anything up, at any time. Him and his GOP cohorts have pretty much ruined tax free munis.
F**king assholes.
 
2018-07-17 11:06:24 PM  

Ow! That was my feelings!: [img.fark.net image 720x528]


Those sort of pix will give middle-age white right-wing politicians a bad name.
 
2018-07-17 11:08:26 PM  

whatshisname: That's ok because the people benefiting from all those tax cuts will be dead by the time the bill comes due.


Maybe sooner than they think
 
2018-07-17 11:08:32 PM  

Snarcoleptic_Hoosier: When Democrats get back in power, they need to blow their legislative load on a massive tax hike using the same reconciliation shenanigans McConnell did.


They certainly need to stop caring, at all, about the deficit. Forget pay-fors, forget revenue neutral, forget all of that bullsh*t. Spend like hell on their priorities.
 
2018-07-17 11:08:35 PM  
So? Did the rich get richer? Then TA-frickin-DA, you stinking poor.
 
2018-07-17 11:09:43 PM  

Mrbogey: https://www.frbatlanta.org/cqer/resea​r​ch/gdpnow.aspx

Don't know what experts you've been talking to but if the quarters keep hitting that, 3% is easy.


True, and if housing values had just kept going up and people had kept on making their mortgage payments, we never would have had a financial meltdown in 2008.

Are you this dumb on purpose?
 
2018-07-17 11:10:03 PM  
Lovely.

I can't wait for Fox News to start decrying the "Obama recession"
 
2018-07-17 11:10:57 PM  

Notabunny: So? Did the rich get richer? Then TA-frickin-DA, you stinking poor.


The aristocrats
 
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