permafrost Loc: Minnesota

mark, baby... we had 2 wars, plan D, the housing bubble pop, the tax cuts.. all the cost was kicked down the road..


and the recession reduced tax revenue enormously..

It showed up on the accounting during Obamas administration...

very little of his own actions got into the dept..

Bad Bob Loc: Virginia

The term "I don't recall" ring a bell?

permafrost Loc: Minnesota

did the state go Bankrupt?? Or they were going to but changed all the tax rules??

some big event.. Wait... let me have a quick look, I was thinking you already knew.. sorry about that..


from the Atlantic...


The regretful Republicans of Kansas have a message for the tax-cutting Republicans of Congress: Don’t follow our lead.

If states are, as Justice Louis Brandeis famously called them, the laboratories of democracy, then Kansas’s experiment in conservative tax reform set off an explosion of red ink. Steep cuts for businesses and individuals failed to produce a promised economic boom, and busted the state’s budget instead. Now, the GOP legislators that oversaw—and ultimately cancelled—that fiscal study are increasingly worried that Washington will ignore its central finding.

A tax-reform plan from the White House and Republican congressional leaders mirrors the structure of the legislation Kansas passed, and it’s been accompanied by the same confident assurances that it will “pay for itself” with economic growth. “That won’t work, so you better learn our lesson,” warned Kansas state Senator Barbara Bollier, a Republican who voted against the tax cuts originally and then fought to undo them earlier this year.

At the behest of conservative Governor Sam Brownback, Republican majorities in Kansas in 2012 set the state’s income tax on a “march to zero” and eliminated taxes on companies whose owners filed their taxes as individuals—a loophole exploited by thousands of businesses that resulted in plummeting revenue to the state’s coffers. Brownback, a former U.S. senator and presidential candidate, hailed the policy as “a real-live experiment” in conservative governance. But in the eyes of all but Brownback and his staunchest supporters, the test failed. Economic growth never materialized, and the state legislature could not summon the political will or overcome legal roadblocks to cut spending to match the lower revenue. With annual deficits in the hundreds of millions, Kansas has been mired in a perpetual budget crisis ever since.

Bad Bob Loc: Virginia

son of witless

You have your facts a little askew.

permafrost Loc: Minnesota

You got anything???

straightUp Loc: California

lol - I know... Is national debt in vogue now? I can't keep up.

Bad Bob Loc: Virginia

What debt?

cali

The national debt has been decreases by 100 billion dollars since trump took office. Historic reductions, no other President in history has ever made such an accomplishment.

son of witless

How did it not work for Reagan and Bush ?

permafrost Loc: Minnesota

REALLY???!!!


Reagan had to steal the Social Security funds.. We are battling the policies he put in place to this day.. Decades and we are not rid of him yet..

Bush Jr. ran two wars and part D drug plan on the credit card while gifting the rich with even more tax cuts..

straightUp Loc: California

Well you ARE describing an unprecedented accomplishment... to "decreases by 100 billion dollars" before the president's budget is even passed. LOL

cali, I'm just going to assume you got this off some fake news feed and just haven't really paid much attention to it. Let me point a few things out...

1. The 2017 budget covers federal spending from October 1, 2016 to September 30, 2017 and that budget was proposed by Obama, not Trump. So it appears you're tooting your horn for the wrong guy ;)
2. The 2018 budget, affectionately called "America First: A Budget Blueprint to Make America Great Again" is Trump's first budget proposal and it's late... It should have been implemented on 10/1/2017, but Congress (which needs to approve the budget) didn't even start looking at it until 10/17.
3. As of this date, Trump's budget proposal is STILL not implemented... it's not even approved yet.

So... thank you for pointing out the "historic reduction" and how no other president has ever made such an accomplishment... I'm guessing that's probably the nicest thing you ever said about Obama. :)

cali

You make me yawn. Read it and weep.

https://thepoliticalinsider.com/trump-national-debt/

son of witless

REALLY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Give me your evidence of Social Security being stolen by President Reagan. As far as President George W. Bush here are the Federal Revenue figures.
•FY 2008 - $2.52 trillion.
•FY 2007 - $2.57 trillion.
•FY 2006 - $2.4 trillion.
•FY 2005 - $2.15 trillion.
•FY 2004 - $1.88 trillion.
•FY 2003 - $1.72 trillion.
•FY 2002 - $1.85 trillion.
•FY 2001 - $1.99 trilion.
•FY 2000 - $2.03 trillion.

permafrost Loc: Minnesota

cali,

You need to read more and other then the bird cage liners the right wing prints..


a bit of reality...


From Politifact..

trumps claim is correct, but we also have to know the reason why..

Jared Bernstein, a senior fellow at the Center on Budget and Policy Priorities and former economic adviser to Vice President Joe Biden, dismissed any claims that President Trump is responsible:

Trump hasn’t legislated anything that would have any impact on the fiscal accounts, so it simply doesn’t make sense on the face it.
Instead, Bernstein told us, the cause of the drop in the debt is simple — the federal debt ceiling that has been in place since March 2017.

If you look at a plot of the total debt right now, it’s holding steady at the limit, because to go over the limit is unconstitutional. So you either have to engage in extraordinary measures or eventually default, and the latter is unimaginable so right now Treasury is engaged in the former.

That is, they are delaying or suspending various payments that need to be made, particularly within some of their intra-governmental accounts… By those measures, they can hold the national debt where it is for a certain amount of time.
Eventually, Bernstein says, the debt ceiling will have to be lifted, and the payments that had been delayed will cause the national debt to increase once again.

Also, of far more importance for now is the tax plan proposal..

Both the house and senate versions will be deadly in the long term to America.. The debt will rise, none of it will be removed.

The crisis will be far worst then it is now.

And remember the debt has grown most due to "credit card" use for wars and major policy..

Kicking the can down the road is a deadly practice and will bring grief to our children and beyond..

We owe them more responsibility then the trump gang has ever shown..