Impressed by the Trump administration part II

Going off memory here.....For 9 months of the fiscal year, we ran a $607B defecit (far, far too much in a good economy).  Individual receipts were UP just over $40B, but corporate receipts were down over $70B.....total receipts something like $30-$40B LESS than last year.

That, my friends, is NOT a successful or revenue neutral tax reform.  Not that it's how we should judge, but increasing spending and cutting taxes doesn't really work.

Still too early to completely quantify, but would appear to come in well under the $1.5T deficit (or more) projected, as is usually the case with tax cuts.  Nevertheless, it looks to be at least $500B (over 10 years) short of revenue neutral.

Trump economy is killing it.  4.1 gdp.  

posted by Spock

Trump economy is killing it.  4.1 gdp.  

What does that mean for the Q3 2014 economy under Obama, which rose by 4.9%?

It means that the POTUS has less positive influence over the economy than his own party's acolytes give him credit for when things go well.

posted by gut

Going off memory here.....For 9 months of the fiscal year, we ran a $607B defecit (far, far too much in a good economy).  Individual receipts were UP just over $40B, but corporate receipts were down over $70B.....total receipts something like $30-$40B LESS than last year.

That, my friends, is NOT a successful or revenue neutral tax reform.  Not that it's how we should judge, but increasing spending and cutting taxes doesn't really work.

Still too early to completely quantify, but would appear to come in well under the $1.5T deficit (or more) projected, as is usually the case with tax cuts.  Nevertheless, it looks to be at least $500B (over 10 years) short of revenue neutral.

Then again we're getting better unemployment and economic output numbers - even as the Fed starts the rate hike cycle! Not like anyone here has claimed that increasing the deficit is good for the economy after all!

posted by BoatShoes

 Not like anyone here has claimed that increasing the deficit is good for the economy after all!

Not anyone that knows anything about economics.

I love how trump is slamming Mueller.  He is trying to draw him out so everyone can see that he has nothing

posted by Spock

I love how trump is slamming Mueller.  He is trying to draw him out so everyone can see that he has nothing

I like senile old Rudy spinning every day.....Trump hires the best people!

Great people.  Yes, some might say the best people.  I was telling someone just the other day that Trump hires some great, great, really great people.

Also, 4D chess ... or something ...

posted by gut

Not anyone that knows anything about economics.

Yeah, yeah too funny. You moan about slow growth under Obama. Trumpy & the GOP make Obummer's budgets look austere and growth picks up. It's too bad Trumpy is ruining it for himself with the National Security Tariff crap which really amounts to the taxes by executive fiat (just another thing that - had Obama done it - heads would explode).

The deficit hawks like Gut gave us years of misery across the world demanding Austerity (and oh yeah it wasn't even real austerity - so they say). Would have been the same crap if Hillary won because the GOP would still be pretending to be deficit hawks. 

Thankfully we got Trump who really doesn't give a fuck and got something resembling the sort of deficits & economy that runs a persistent trade deficit needs. #MAGA

posted by Spock

I love how trump is slamming Mueller.  He is trying to draw him out so everyone can see that he has nothing

When does the Trump fever start to fade for Spock? When Trump Jr. gets arrested? I doubt it. The marks of a con are always reluctant to believe the whole thing was a scam. 

Trump revoking security clearances for quite a few.  

In good news, even if he confirmed it in typical whiny fashion, the whole "waste a lot of money on a self-masturbatory parade" thing has been shelved for at least a while. Because nothing says fiscal responsibility than throwing out an obscene amount of money on a fucking "look at all our shit!" bit of little man syndrome. Whether it be $10M or $92M, that money'd be better used to help the vets who've struggled to get re-integrated into normal lives than on yet another pep rally.

posted by Heretic

In good news, even if he confirmed it in typical whiny fashion, the whole "waste a lot of money on a self-masturbatory parade" thing has been shelved for at least a while. Because nothing says fiscal responsibility than throwing out an obscene amount of money on a fucking "look at all our shit!" bit of little man syndrome. Whether it be $10M or $92M, that money'd be better used to help the vets who've struggled to get re-integrated into normal lives than on yet another pep rally.

Better still, to be returned to those it was stolen from.

posted by Heretic

In good news, even if he confirmed it in typical whiny fashion, the whole "waste a lot of money on a self-masturbatory parade" thing has been shelved for at least a while. Because nothing says fiscal responsibility than throwing out an obscene amount of money on a fucking "look at all our shit!" bit of little man syndrome. Whether it be $10M or $92M, that money'd be better used to help the vets who've struggled to get re-integrated into normal lives than on yet another pep rally.

That money'd be better used on literally almost anything else.

posted by O-Trap

That money'd be better used on literally almost anything else.

Yeah, but watching vets kneel during the Anthem at Trump's parade.....priceless

Stocks into record territory (again)

New Nafta replacement deal w Mexico

Thousands of companies continuing to re-invest in their workers and machinery & equipment

A lot of winning.

posted by QuakerOats

Stocks into record territory (again)

New Nafta replacement deal w Mexico

Thousands of companies continuing to re-invest in their workers and machinery & equipment

 

A lot of winning.

the news outlets cant report that stuff but in 2020 they cant hide from it

The major media has moved from 90% negative on Trump, to 100% negative.  It is simply hilarious to open up any website or newspaper, or tv news and see what they are reporting, and how they are reporting, given the successes achieved, promises kept, and economic resurgence occurring.  They have crushed themselves and likely will never regain any trust whatsoever.

posted by QuakerOats

 

 

The major media has moved from 90% negative on Trump, to 100% negative.  It is simply hilarious to open up any website or newspaper, or tv news and see what they are reporting, and how they are reporting, given the successes achieved, promises kept, and economic resurgence occurring.  They have crushed themselves and likely will never regain any trust whatsoever.

This too shall pass. Old angry white guys eventually become dead angry white guys.

Good to know you favor conspiracy, collusion, corruption, and cover-ups at the highest levels of the “Justice” Dept., the FBI, and the DNC.  It appears the enemies within are more numerous than one might think.