factnotfiction

Of course, if he told the t***h about how lousy he is doing, even his supporters would run away, screaming about what the hell did they do by putting this economic dunce in office.

And all of you cons who are constantly whining and crying about the national debt that doubled during the Obama presidency should be just thrilled that trump will exceed that if he somehow manages to get re-elected, (with help from his puppet master pooty, of course)

And this data is from your unimpeachable source, fox business


https://www.foxbusiness.com/markets/us-deficit-soars-by-342-billion-in-first-2-months-of-fiscal-year

Liberty Tree

All appropriations bills must begin in the Democrat controlled House. Where is their plan to reduce the deficit? Let them run on that.

JFlorio Loc: Seminole Florida

Don’t you love the little whining hypocrite. I have, along with others on here been consistent with my criticism of this administrations spending and the previous one. What they never admit is the amount of revenue collected by the govt. is higher than ever. Hmmm. Seems like a spending problem. Now all the sudden little soy boys like fauxnotfiction are worried about deficits when the previous president doubled our debt.

Liberty Tree

Spending has always been the problem.

DASHY

That along with decreased revenues.

JFlorio Loc: Seminole Florida

God you’re dumb.


https://www.investors.com/politics/editorials/income-tax-revenues-trump-tax-cuts-economic-growth/

Liberty Tree

Revenues are up.

JFlorio Loc: Seminole Florida

That won’t compute with this dummy.

Liberty Tree

Nothing computes with them. They just repeat what has been programmed into them by their handlers.

JFlorio Loc: Seminole Florida

They couldn’t figure out where tax revenues come from if they had to.

DASHY

It's actually quite simple. When looking at budgets, we compare actual revenues with budgeted revenues. For FY2018 nominal revenues were slightly higher than FY2017. But, actual amount of revenue collected in FY2018 was significantly lower than the CBO's projection of FY2018 revenue. The optimism about the result of the rich man's Tax Cuts Act in 2017 is said to be blamed for this significant decrease. CBO's projected spending for FY2018 rose to reach the phantom unrealized revenues which failed to materialize. Anyone who has prepared budgets for governmental entities (as I have) knows this is how it works.

Radiance3

==============
There are now 31 million i*****l a***ns to support with annual costs of $135 billion per year. That does not include costs of the i*****l a***n kids in public schools which cost an average of $12,500 per student kids. There are 3.9 million of illegal kids in public schools alone with added cost of $48,750 billion. Added total annual cost is $183,750 billion annually.

December will be adding revenue when the annual corporate taxes will be paid for the Calendar year ending 2019.

Each year budget deficit is common, and there were higher during the Obama administration when annual deficits amount to trillions of dollars.

So, the best way to calculate the deficit is to look at each president’s budgets. Then, simply add the deficits for those budgets. This reflects the president's priorities in black and white. It measures the impact of deficit spending and tax changes in dollars and cents.

Four Factors That Influence the Deficit
There are four factors that can influence each president's deficit.

The president has no control over the mandatory budget or its deficit. That includes Social Security and Medicare benefits. These are the two biggest expenditures any president has. The mandatory budget estimates what these programs will cost. The acts of Congress that created the programs also mandate the spending. Unless the president can get Congress to remove or change them, he's got to live with that spending.

The Constitution gave Congress, not the president, the power to control spending. The president’s budget is just a starting point. Each house of Congress prepares a discretionary spending budget. They combine them into the final budget that the president reviews and signs. If a hitch in the budget process keeps the proposed budget from being signed into law, Congress can choose to keep their agencies running at the current budget levels or it can initiate a government shutdown. This shutdown actually happened in 2013 and 2018.

Each president inherits many of his predecessors' policies. For example, every president suffered from lower revenue. That's a result of President Reagan's and President Bush's tax cuts. Presidents who raise taxes quickly become unpopular. As a result, tax cuts rarely disappear.

The Four Presidents with the Worst Deficits So Far
President Barack Obama had the largest deficits. By the end of his final budget, FY 2017, his deficits totaled $6.785 trillion. Obama took office during the Great Recession. He immediately needed to spend billions to stop it. He convinced Congress to add $253 billion from the economic stimulus package to Bush’s FY 2009 budget. The American Recovery and Reinvestment Act added another $534 billion over the rest of Obama’s terms.

Both Presidents Bush and Obama suffered from higher mandatory spending than their predecessors did. Social Security and Medicare benefits were eating up more of the budget. Health care costs were rising as the American population aged. In 2010, Obama signed the Patient Protection and Affordable Care Act. It sought to reduce health care spending. This reduction would lower the debt by $143 billion by 2020.

President George W. Bush is next, racking up $3.293 trillion over two terms. He responded to the 9/11 attacks with the War on Terror. That raised military spending to $600 billion a year. The Bush tax cuts, also known as the Economic Growth and Tax Relief Reconciliation Act and Jobs and Growth Tax Relief Reconciliation Act, cut taxes to address the 2001 recession. Unfortunately, the cuts did not sunset when the recession was over. That worsened the housing boom and depleted revenues during the 2008 recession.
He attacked the 2008 financial crisis with the $700 billion bailout. Congress added the bailout to the mandatory budget. There it became the Troubled Asset Relief Program.

President Ronald Reagan added $1.412 trillion in deficits, almost doubling the debt. He fought the 1982 recession by cutting the top income tax rate from 70 percent to 28 percent and the corporate rate from 48 percent to 34 percent. Reagan also increased government spending by 2.5 percent a year. That included a 35 percent increase in the defense budget and an expansion of Medicare.

President George H.W. Bush created a $1.03 trillion deficit in one term. He responded to Iraq's invasion of Kuwait with Desert Storm. He oversaw the $125 billion bailout that ended the 1989 Savings and Loan crisis. The 1991 recession cut into tax revenue.

President Donald Trump deserves special mention. According to his budget projections, he would add $6.2 trillion in deficits during his first term. That would put him at #2 on this list. It would also be a 31 percent increase, putting him in the top 10 by percent.

What Budget Deficits Hide
Each year's deficit adds to the debt. But the total amount a president adds to the debt each year is usually more than the deficit. All presidents can employ a sleight of hand to reduce the appearance of the deficit. They can borrow from federal retirement funds in off-budget t***sactions. For example, the Social Security Trust Fund has run a surplus since 1987.1 There were more working people contributing via payroll taxes than retired people withdrawing benefits. The Fund invests its surplus in U.S. Treasury notes. The president can reduce the deficit by spending these funds instead of issuing new Treasurys. That makes the deficit by year less than what's added to the debt by year.

For example, $8.588 trillion was added to the national debt under Obama. But his total budget deficits totaled $6.785 trillion. Similarly, President Bush's stated budget deficits totaled $3.294 trillion. But he added $5.849 trillion to the debt. Having said that, the president with the highest deficits are still the presidents who contributed the most to the debt. It's ironic that, as the debt has increased through the years, the value of presidents' salaries has decreased.

The chart below shows a breakdown of the top 10 U.S. presidents with the biggest debt increases.

List of Presidents' Budget Deficits by Fiscal Year
Although most other presidents ran deficits, none came close t

President Barack Obama: Total = $6.785 trillion, a 57 percent increase spending.
FY 2016 - $585 billion.
FY 2015 - $438 billion.
FY 2014 - $485 billion.
FY 2013 - $679 billion.
FY 2012 - $1.087 trillion.
FY 2011 - $1.300 trillion.
FY 2010 - $1.547 trillion. This is the sum of $1.294 trillion plus $253 billion from the Obama Stimulus Act that was attached to the FY 2009 budget.
FY 2009 - $1.16 trillion. This amount is calculated from $1.413 trillion minus $253 billion from Obama's Stimulus Act

The most expensive budget deficit spending are the Medicare and Social Security benefits. There are more retirees at present under the Trump administration compounded by the i*****l a***n costs.

JFlorio Loc: Seminole Florida

Should have known you’d use projections not what’s actually happened. Not surprised you were once another worthless bureaucrat.

elledee

and now a undeniable t***h.....the people never got less and paid more than under ovomit

Radiance3

===============
There will be accurate calculation when the corporate or private entities report their annual revenue and paid taxes to the federal government. The federal government measures its year-end financial status by fiscal year-ending Sept. 30th.

Most of private corporate businesses measures their revenue costs and profit during the calendar year ending Dec. 31. Then and only then an accurate measurement of how much deficit or surplus could the federal government have.
Historically, every president had their own budget deficits and never a surplus I have seen yet.

Their annual biennium budget starts every two years, from Oct. 1st. Budget of each department are submitted to Congress for budget appropriation, before they could proceed with spending.