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  #171  
Old 03-12-2018, 04:29 PM
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finnbow finnbow is offline
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The federal government recorded a budget deficit of $215.2 billion in February, up significantly from a year ago as the impact of the GOP tax cuts passed in December begin to surface.

The Treasury Department said Monday that the February deficit was 12.1 percent higher than a year ago, reflecting in part a drop of $5 billion in individual withholding taxes paid last month compared to a year ago. In February, employers started using tax tables that withheld less from paychecks based on the new law.

For the first five months of this budget year, the deficit totals $391 billion, an increase of 11.5 percent from the same period a year ago. President Donald Trump's new budget projects this year's deficit will hit $873 billion, up a sharp 31.3 percent from last year's imbalance of $665.8 billion.


http://abcnews.go.com/Business/wireS...ruary-53690903

Surprise, surprise. I'm waiting for Whell to shriek "fake news!"
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  #172  
Old 03-12-2018, 06:18 PM
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Quote:
Originally Posted by finnbow View Post
The federal government recorded a budget deficit of $215.2 billion in February, up significantly from a year ago as the impact of the GOP tax cuts passed in December begin to surface.

The Treasury Department said Monday that the February deficit was 12.1 percent higher than a year ago, reflecting in part a drop of $5 billion in individual withholding taxes paid last month compared to a year ago. In February, employers started using tax tables that withheld less from paychecks based on the new law.

For the first five months of this budget year, the deficit totals $391 billion, an increase of 11.5 percent from the same period a year ago. President Donald Trump's new budget projects this year's deficit will hit $873 billion, up a sharp 31.3 percent from last year's imbalance of $665.8 billion.




http://abcnews.go.com/Business/wireS...ruary-53690903

Surprise, surprise. I'm waiting for Whell to shriek "fake news!"

Just give it time and a few more gallons of unicorn's piss and it'll all work out, Pat. My neighbors garden gnomes told me so...
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  #173  
Old 03-12-2018, 08:39 PM
Chicks Chicks is offline
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Quote:
Originally Posted by finnbow View Post
Surprise, surprise. I'm waiting for Whell to shriek "fake news!"
The real fake news was Whell’s thread, loudly proclaiming Donny’s having “saved” all those jobs at Carrier. Remember that? Yet the idiot STILL believes every word his Dear Leader utters. Moron.

Meanwhile, Under Trump, US jobs are moving overseas even faster than before. Oops. MAGA? Riiiiight....

https://qz.com/1144201/under-trump-u...r-than-before/
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  #174  
Old 03-13-2018, 07:39 AM
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Quote:
Originally Posted by finnbow View Post
The federal government recorded a budget deficit of $215.2 billion in February, up significantly from a year ago as the impact of the GOP tax cuts passed in December begin to surface.

The Treasury Department said Monday that the February deficit was 12.1 percent higher than a year ago, reflecting in part a drop of $5 billion in individual withholding taxes paid last month compared to a year ago. In February, employers started using tax tables that withheld less from paychecks based on the new law.

For the first five months of this budget year, the deficit totals $391 billion, an increase of 11.5 percent from the same period a year ago. President Donald Trump's new budget projects this year's deficit will hit $873 billion, up a sharp 31.3 percent from last year's imbalance of $665.8 billion.


http://abcnews.go.com/Business/wireS...ruary-53690903

Surprise, surprise. I'm waiting for Whell to shriek "fake news!"
Last month it was a surplus. This month its a deficit. I thought a single data point was "anecdotal" to you? Hell, you started bitching at me for my lack of knowledge regarding economics and statistics for daring to post about "anecdotal" evidence.

You crack me up, Finn.
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  #175  
Old 03-13-2018, 07:43 AM
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whell whell is offline
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Quote:
Originally Posted by Chicks View Post
The real fake news was Whell’s thread, loudly proclaiming Donny’s having “saved” all those jobs at Carrier. Remember that? Yet the idiot STILL believes every word his Dear Leader utters. Moron.

Meanwhile, Under Trump, US jobs are moving overseas even faster than before. Oops. MAGA? Riiiiight....

https://qz.com/1144201/under-trump-u...r-than-before/
Wait, let me get this straight. Moving jobs - which takes months and years of planning - that's Trump's fault. But last months eye-popping job numbers, that was due to Obama's recovery. Did I get that right?
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  #176  
Old 03-13-2018, 07:51 AM
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finnbow finnbow is offline
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Quote:
Originally Posted by whell View Post
Last month it was a surplus. This month its a deficit. I thought a single data point was "anecdotal" to you? Hell, you started bitching at me for my lack of knowledge regarding economics and statistics for daring to post about "anecdotal" evidence.

You crack me up, Finn.
It seems you don't know the definition of an anecdote. The passage below is not an anecdote.

For the first five months of this budget year, the deficit totals $391 billion, an increase of 11.5 percent from the same period a year ago. President Donald Trump's new budget projects this year's deficit will hit $873 billion, up a sharp 31.3 percent from last year's imbalance of $665.8 billion.
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  #177  
Old 03-13-2018, 08:00 AM
Chicks Chicks is offline
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Originally Posted by whell View Post
Wait, let me get this straight.
Wait, let me get this straight. You still believe your idiot master saved those Carrier jobs? Moron.
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  #178  
Old 03-15-2018, 06:51 AM
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finnbow finnbow is offline
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And now Trump appoints Larry Kudlow, former coke-head and economist whose predictions are invariably wrong (needless to say, he's a supply-sider).

Trump has just put the country’s economic fate in the hands of the man who has arguably been more publicly and consistently wrong about the economy than any person alive.

https://www.washingtonpost.com/opini...f68_story.html
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  #179  
Old 03-23-2018, 05:32 PM
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The second step of supply-side economics is now complete. Huge tax cuts (mostly for the wealthy) followed by massive spending. It has always been thus, from Reagan to Dubya, and the results will be the same - huge deficits.
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  #180  
Old 03-27-2018, 09:01 PM
Chicks Chicks is offline
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More evidence that the tax cut has done almost nothing for the middle class, while enriching the already wealthy even more.

https://www.cnbc.com/2018/03/27/trum...o-tariffs.html

Some insight into the stagnant nature of the president's numbers can be found in American opinions on his policies. Perhaps most importantly, the data show that the tax cuts have not been felt, at least not yet. The poll was conducted March 17-20, which should be well enough into the year for Americans to notice a change in their withholding taxes. But that's not the case.

Just 32 percent of the public reports having more take home pay because of the tax cuts, including only 48 percent of Trump supporters and 35 percent of the middle class. More than half say they see no change in their paychecks and 16 percent are unsure. It could be that more time is needed for people to notice the change. It could also be that the tax cut provided too small a break to be meaningful to many Americans.

Some evidence of this comes from the 32 percent who say they have noticed more take-home pay. Of this group, only 38 percent say the extra pay helps their financial situation "a great deal" or "a fair amount, while 40 percent say it helps some or just a little, and 22 percent say "it does not help much at all."
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