With a New President Coming In, What Do You Think Will Happen To The U.S. Budget Deficit & Debt?
We have a New President of the United States taking office with big spending plans and big tax cuts. What do you think will happen to the U.S. budget deficit and debt over the next four years?
It all depends on who is in charge. If the GOP leadership in Congress is in control, I am afraid the debt will get worse. If the Trump team gets their way, hopefully, we can bring it down slowly. Either way, our country is in dire straights. As the interest rate begin to rise this year, the service to the debt will increase and kill the budget. There is no free lunch. We spent the money and now we and out kids and grand kids must pay it back one way our another.
What happened to the US Budget Deficit, and National Debt since the beginning of the Vietnam War? Since then we have had both parties in a control at different times, and what is the result today?
So what is the implication of your question, or point?
What have we done during that time to update our infrastructures, and resources. How did trillions of dollars to government agencies to protect our country at home and abroad, and not have a single defense during 911.
NORAD et al.
If Wall Street OWNED "Koch Brothers PUPPET" Republican Paul Ryan gets his way without OBSTRUCTION, OUR Debt/Deficit will EXPLODE ~ His RADICAL Agenda calls for "GARAGANTUAN Tax CUTs" 4 CORPORATIONs & the WEALTHY which are even MORE egregious than those imposed by George W Bush ~ Medicaid CUTs & the Privitization or more accurately known as the "PROFITIZATION" of both Medicare & Social Security which will DEVASTATE not ONLY the Balance Sheet but OUR Economy ~ Throw in 20 to 40 BILLION to Finance the GREAT Wall in Donald's Little HEAD which he PROMISED Mexico would PAY 4 and just these items alone will be Catastrophic ~
I'd Recommend that U INVESTIGATE Republican Paul Ryan's RADICALLY ANTI-American Agenda filled to the BRIM with SCHEMEs ~ You'll be nothing LESS than SHOCKED ~
The wall is long over due. I don't care who pays for it. Good fences makes for good neighbors.
You're Obviously a "TRUMP Sheep" which is WHY I'm not Surprised that Donald's "PATHOLOGICAL Lies" about Mexico Paying 4 his Useless "Tonage of CONCRETE" is Ignored ~ He was in MEXICO a short time ago, WHY did he FAIL 2 Secure the FUNDs then??
Hey Prime did you know that our remittance to mexico every year is way over 20 Billion USD. Mske that illegal like it is to many countries and you pay for the wall!
U should learn what the Remittance is ~ I guess we have a "TRUMP Sheep" who Blindly FOLLOWs CON-Man Donald ~ Thirdly WHY not use his "BIG Winning DEAL Making Skills" 2 get the Funds from MEXICO? ~ Lastly this may be MOOT when he's IMPEACHED
If I recall, the wall was passed by Congress years ago but never completed. It is not a Republican or Democrat issue but an American issue. I ask you, what is a definition of a country? A country without borders is not a country.
How many countries is remittance of money from the U.S. banned to? Just a handful right, like North Korea? Not sure I get this wall thing. Been to the Mexican border in AZ and there is a wall where I was. I agree with controlling our borders.
Oh it is really cool John, Vietnam was off, China was off. Then we make trade deals and they are on. Trump knows the calculations obviously. Our remittance to them(mexico) is more that Pemex brings in. That Slim dude cannot compete at all. Fox?
Jackie ~ The USA is FINE without a Gigantic 30 BILLION OBSOLETE Wall paid 4 with Tax-Payer Fundss ~ The most "SENSITIVE & Secret" place on EARTH Area 51 has NO Wall just Technology 4 Protection ~ John I Support BORDER Protection 2 ~ Eric ~ ???
The wall does not have to be a physical wall throughout the southern border. We are talking about a wall, surveillance, drones, night vision sensor and also tracking over stay visas and other means of illegal entry...A country is defined by borders..
We R DEFINED by OUR "People, CULTURE & Societal Enhancements" not BORDERs or Obsolete WALLz ~ I Support ENHANCING Security via "INVISIBLE Technology & MAN-POWER" but we can't afford it with Republican PAUL Ryan's "Corporate Welfare SCHEME"
It will go up initially and then down.
I think that there are a whole lot of people who throw national debt stuff around in ignorance or as a buggie man to attack for political gain.
Just look at who owns most of our paper. It is akin to the Mouse that Roared. China could no more call the debt due than a unsecured creditor against a bankrupt.
Think this way, the guy who owes you money is by about 20xs your biggest customer. Sure foreclose on the guy and run him out of business on a debt he cannot pay. Well you just failed your business.
Loan sharks do not kill their delinquent customers. Not even like in the movies where they do it as a warning.
Now drug dealers do kill competitors but almost never the junkie.
In a comparison it is interesting to look at the worlds 7th largest economy and that would be California. California has a huge state budget deficit. Until you realize it is about the amount of import export dealings for 4 days.
When you think of billions and trillions you have to look no further than McDonalds -- 27.5 Billion in sales a year. Just the profit margin on the oil we export and import per month equals our national budget (or something close)
I had a husband and wife client that came to me because they were freaking out about their debt. It was way over 500K. I declined them as a client as their assets were way over 6 million.
US budget and deficits are only relative. What happens if Trump actually grows our GNP by 40% -- it could happen. Then wouldn't it be kind of silly to complain if the debt ratio went down although the debt stayed the same?
The debt is the debt and has little to do with GDP or GNP... It is tied intricately wih the interest rate. Do you wonder why the interest rate is near zero for the last 10 years? If the interest rate was left to natural flow, it would be atound 3%
Jack, that is the spew. Not true. Think of the "vig" charged by a mafia ring. The vig is what the potential downside is in loaning money -- economists call it the "cost of money". Buddy, we could borrow another 3 trill tomorrow. Our viig is low.
I disagree. The only reason we are not like Greece right now is because the dollar is still the standard currency used around the world. The day when thst stops, our currency will be almost worthless. The debt is too high to pay back and the QEs...
by Ralph Deeds 5 years ago
Paul Krugman:" Back in 2010, self-styled deficit hawks — better described as deficit scolds — took over much of our political discourse. At a time of mass unemployment and record-low borrowing costs, a time when economic theory said we needed more, not less, deficit spending, the scolds...
by leeberttea 8 years ago
How's that hope-y change-y thing working out for ya?3% growth is better than what we've had the past 2 years but will we actually be able to achieve it once the new taxes kick in? What about the debt crisis in Europe? It seems they have made the same mistake we made approving a trillion dollar bail...
by Flightkeeper 8 years ago
The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history; the one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007. This means that nearly $1,500 of debt was added for every U.S....
by crazymom3 4 years ago
What is the government doing to pay off the national debt? How is it being paid off?
by American View 7 years ago
OK I give up. Armageddon is coming. President makes threats, talks down to Americans, Dems plan has fake cuts and they refuse to look at Repubs offers, Repubs balking at Dems offers saying no raising the taxes. No wonder Bachmann has a migraine. Forget politics, forget which plan you think is...
by Susan Reid 6 years ago
Gee. I've been led to believe it's all Obama's fault.Guess that's simply NOT TRUE!http://youtu.be/LcvLHHMC4iI
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