Deficit projected to hit 1 trillion in 2020

[Robbie3000]

To make things worse, this is in a relatively prosperous time. The last time the deficits were this high was after the crash in 2008. Obama worked to reduce the deficit then Trump took over and basically blew the shyt wide open with his tax cuts geared towards the wealthiest.

Turns out, trickle down economics don’t work. I know, huge surprise.

So where are all the conservative deficit hawks?

WASHINGTON — The federal government’s annual budget deficit is set to widen significantly in the next few years, and is expected to top $1 trillion in 2020 despite healthy economic growth, according to new projections from the nonpartisan Congressional Budget Office released Monday.

The national debt, which has exceeded $21 trillion, will soar to more than $33 trillion in 2028, according to the budget office. By then, debt held by the public will almost match the size of the nation’s economy, reaching 96 percent of gross domestic product, a higher level than any point since just after World War II and well past the level that economists say could court a crisis.

The fear among some economists is that rising deficits will drive up interest rates, raise borrowing costs for the private sector, tank stock prices and slow the economy, which would only drive the deficit higher.

“Such high and rising debt would have serious negative consequences for the budget and the nation,” said Keith Hall, the director of the budget office. “In particular, the likelihood of a fiscal crisis in the United States would increase.”

Federal Budget Deficit Projected to Soar to Over $1 Trillion in 2020

 

[Sohh_lifted]

yesssssssss MAGA

 

[mc_brew]

republicans are not running up the deficit because they believe in trickle down economics, that's just the smokescreen... they want to run these deficits up so that they can kill things like medicare and social security in the future.....

it works because once a democrat becomes president, the deficit is already $1T.... what, are you going to add free college tuition and medicare for all on top of that...? most democrats don't have the spine for that... that's the real motivation for these republicans... soon massive cuts to departments and entitlements will be proposed (as they always are)....

 

[The Fukin Prophecy]

At some point MSM needs to start doing its job and tearing down conservative myth talking points...

IMO they don't do enough to expose the blatant hypocrisy and bullshyt...

Trickle down economics is the longest running scam in this country...

There is no such thing as pro-life and fiscal conservatives...

Its pro-womb and "which lobbyist promises me more" fiscal policies...

The only thing conservatives really care about is filling their own pockets...

 

[mc_brew]

There is no such thing as pro-life and fiscal conservatives...

Its pro-womb and "which lobbyist promises me more" fiscal policies...

preach my brother, preach.....

 

[Robbie3000]

By 2023, according to the budget office, interest costs are projected to exceed what the government spends on the military. By 2028, interest payments will reach $915 billion, more than triple the interest costs last year.

 

[ZoeGod]

By 2023, according to the budget office, interest costs are projected to exceed what the government spends on the military. By 2028, interest payments will reach $915 billion, more than triple the interest costs last year.

The Republican endgame is to use a future debt crisis as the perfect opportunity to end Food Stamps,Pell Grants,Medicare,Medicaid,Social Security,Education, also cut govt aid to blue states. Basically bring the country back to the Hoover days. Rome went through the same thing prior to the crisis of the third century. Increased debt,increased military spending which led to a debt/currency crisis.

 

[nyknick]

Just in time to blame a Democrat president

 

[Robbie3000]

The Republican endgame is to use a future debt crisis as the perfect opportunity to end Food Stamps,Pell Grants,Medicare,Medicaid,Social Security,Education, also cut govt aid to blue states. Basically bring the country back to the Hoover days. Rome went through the same thing prior to the crisis of the third century. Increased debt,increased military spending which led to a debt/currency crisis.

True. Most of us know this, but what is frustrating is the casuals still believe the GOP is the party of fiscal responsibility.

 

[ZoeGod]

Just in time to blame a Democrat president

Word smh. Timeline will be Trump loses in 2020. Dems have both the House and senate by that time. Supermajority. By 2022 midterms we will see Tea Party 2.0 screaming about government debt etc. God forbid another recession occurs which will make the debt worse. The first signs of a debt crisis will occur by 2022-2023. Economy worsens. Dems hold the White House in 2024 but by that time Republicans hold the House and Senate on midterm gains. They block the democratic white houses austerity plans to increased taxes on the wealthy. Gridlock 2.0. By the dems second term 2024-2028 the country will be in a full blown debt/currency crisis. Dems get the blame and in 2028 a Republican regime takes over to implement draconian austerity measures that worsens the economy. By 2030 the US is in a full blown depression,high crime,high unemployment,poverty levels increase to highs never seen before in American history because of Republican austerity measures cutting food stamps,welfare,Medicare,Medicaid,Social Security,. Draconian budget cuts leads to political polarization on the left and right not seen since Bleeding Kansas. The rise of political violence will occur. The 2020s will be a defining moment in American history. I already see how this is going to be played out.

 

[Red Shield]

All of it around 2025... which is the year a few have picked for the total fall of the usa

 

[Red Shield]

Word smh. Timeline will be Trump loses in 2020. Dems have both the House and senate by that time. Supermajority. By 2022 midterms we will see Tea Party 2.0 screaming about government debt etc. God forbid another recession occurs which will make the debt worse. The first signs of a debt crisis will occur by 2022-2023. Economy worsens. Dems hold the White House in 2024 but by that time Republicans hold the House and Senate on midterm gains. They block the democratic white houses austerity plans to increased taxes on the wealthy. Gridlock 2.0. By the dems second term 2024-2028 the country will be in a full blown debt/currency crisis. Dems get the blame and in 2028 a Republican regime takes over to implement draconian austerity measures that worsens the economy. By 2030 the US is in a full blown depression,high crime,high unemployment,poverty levels increase to highs never seen before in American history because of Republican austerity measures cutting food stamps,welfare,Medicare,Medicaid,Social Security,. Draconian budget cuts leads to political polarization on the left and right not seen since Bleeding Kansas. The rise of political violence will occur. The 2020s will be a defining moment in American history. I already see how this is going to be played out.

I don't see the usa making it to 2030...

The usa already had it's defining moment.


But outside of that.. yeah I can see what your saying if the usa is still around in 2030.

 

[Secure Da Bag]

If the Democrats win the House and/or Senate, I'm sure Republicans will remember all about austerity, deficits, and not saddling our grandchildren with massive debt.

 

[ADevilYouKhow]

DEMS fault for cutting military military spending

 

[hashmander]

At some point MSM needs to start doing its job and tearing down conservative myth talking points...

IMO they don't do enough to expose the blatant hypocrisy and bullshyt...

Trickle down economics is the longest running scam in this country...

There is no such thing as pro-life and fiscal conservatives...

Its pro-womb and "which lobbyist promises me more" fiscal policies...

The only thing conservatives really care about is filling their own pockets...

The MSM (TV side) is largely made up of rich personalities that benefit from republican tax policy. the regular folks side of the MSM is the local newspapers but they're owned by corporations and are practically dead and just happy to even have a job. all of it is owned by corporations that benefit from republican tax policies.