Supply-Side Economics

[finnbow]

Originally Posted by whell

That's assuming low economic growth, no spending controls and a tax base that doesn't get wider. That's not what's happening, though.

WASHINGTON (Reuters) - As the U.S. Congress limps toward the likely passage next week of another stopgap spending bill to avert a government shutdown, a Washington think tank has estimated the federal budget deficit is on track to blow through $1 trillion in 2019.

If it does, it would be the first time since 2012 the U.S. economy will have to support a deficit so large, highlighting a basic shift for the Republican Party, which has traditionally prided itself on fiscal conservatism.

The Committee for a Responsible Federal Budget, a Washington fiscal watchdog, said the red ink may rise in fiscal 2019 to $1.12 trillion. If current policies continue, it said, the deficit could top a record-setting $2 trillion by 2027.

https://www.reuters.com/article/us-u...-idUSKBN1FI2P2

These aren't Dem talking points, dimwit. Trump's own Treasury Dept just announced that it will need to borrow $3 trillion in the next 3 years.

https://www.cnbc.com/2018/02/05/trea...re-beyond.html

I guess you simply like being lied to by supply-siders who have never once been proven right.

[whell]

Originally Posted by finnbow

WASHINGTON (Reuters) - As the U.S. Congress limps toward the likely passage next week of another stopgap spending bill to avert a government shutdown, a Washington think tank has estimated the federal budget deficit is on track to blow through $1 trillion in 2019.

If it does, it would be the first time since 2012 the U.S. economy will have to support a deficit so large, highlighting a basic shift for the Republican Party, which has traditionally prided itself on fiscal conservatism.

The Committee for a Responsible Federal Budget, a Washington fiscal watchdog, said the red ink may rise in fiscal 2019 to $1.12 trillion. If current policies continue, it said, the deficit could top a record-setting $2 trillion by 2027.

https://www.reuters.com/article/us-u...-idUSKBN1FI2P2

These aren't Dem talking points, dimwit. Trump's own Treasury Dept just announced that it will need to borrow $3 trillion in the next 3 years.

https://www.cnbc.com/2018/02/05/trea...re-beyond.html

I guess you simply like being lied to by supply-siders who have never once been proven right.

Really? The Treasury increased its borrowing - according to the CBO anyway - because projections for tax revenue are down due to the tax cut. Does anyone really think that tax revenue will be lower in 2018 than it was in 2017? Really?

Your CRFB post about the budget suggested that Trump's budget projected a 2.9% GDP growth and that projection was "rosy" and "strained credulity" because other "mainstream" organizations projections were much lower. LOL!! As I recently posted, the Conference Board was projecting 2.9%, and they're pretty damn mainstream. Even the New York Fed recently bumped up their projection to 2.75% recently. Is that "much lower" than 2.9%? I also suspect they'll bump it up some more later this year.

You can believe whatever you want, Finn. You have a gift for ignoring strong evidence to the contrary.

[Chicks]

Originally Posted by whell

Really? Does anyone really think that tax revenue will be lower in 2018 than it was in 2017? Really?

Small wonder you won’t show your ignorant face around here anymore, dumbass. Yes, real tax revenues are lower in 2018. Significantly lower. With the huge tax cut for the rich, how could they not be?

http://www.crfb.org/blogs/has-revenue-risen-2018