PeterS

We'll have to see??? Are you an honest to god lunatic?

The budget deficit in fiscal 2018 (which runs from October 1, 2017 to September 30, 2018, the first year budgeted by President Trump) is forecast to be $804 billion, an increase of $139 billion (21%) from the $665 billion in 2017 and up $242 billion (39%) over the previous baseline forecast (June 2017) of $580 billion for 2018. The June 2017 forecast was essentially the budget trajectory inherited from President Obama; it was prepared prior to the Tax Act and other spending increases under President Trump.

For the 2018-2027 period, CBO projects the sum of the annual deficits (i.e., debt increase) to be $11.7 trillion, an increase of $1.6 trillion (16%) over the previous baseline (June 2017) forecast of $10.1 trillion.

The $1.6 trillion debt increase includes three main elements: 1) $1.7 trillion less in revenues due to the tax cuts; 2) $1.0 trillion more in spending; and 3) Partially offsetting incremental revenue of $1.1 trillion due to higher economic growth than previously forecast.
Debt held by the public is expected to rise from 78% of GDP ($16 trillion) at the end of 2018 to 96% GDP ($29 trillion) by 2028. That would be the highest level since the end of World War Two.

CBO estimated under an alternative scenario (in which policies in place as of April 2018 are maintained beyond scheduled initiation or expiration) that deficits would be considerably higher, rising by $13.7 trillion over the 2018-2027 period, an increase of $3.6 trillion over the June 2017 baseline forecast. Maintaining current policies for example would include extending the individual Trump tax cuts past their scheduled expiration in 2025, among other changes.

The debt increase of $1.6 trillion represents approximately $12,700 per household (assuming 126.2 million households in 2017), while the $3.6 trillion represents $28,500 per household.[7]

Debt under Trump is expected to average $1 TRILLION dollars a year--that's if there is no new spending like on his wall, or infrastructure, military, or such!!! So we already know he wants his wall and he's already increased spending on the military so I am pretty sure he's going to spend more than he had promised...

Trump is a billionaire with no ability to control himself and you people are in his pocket so will never say a god damn word so he will spend as much as he wants to spend and until we elect another democrat you people won't worry about the budget again...will you. Don't answer that, I already know what you are going to say...

old marine Loc: America home of the brave

Yes I read it several times and NO WHERE did President Trump maker that statement.

Brady did misquote a wrong tax table. But the way it was twisted then posted gave the wrong impression on what was said. A favorite tactic of the socialist Democrats.

old marine Loc: America home of the brave

Here you go again twisting facts. The budget bill was entirely the Socialist Democrats bill. It threw the "dreamers" under the bus.

President Trump threatened to VETO the bill but his advisory committee convinced him not to because it helped the military. So he approved the budget.

Bill Robinson

Economics certainly can’t be one of your strong points. You Republicans sure like that trickle-down theory. If you think investors are going to contribute to the economy and job growth, there’s bridges that are being sold.

archie bunker Loc: Texas

Actually, it was more of a snide insult. That seems to be your specialty.

JFlorio Loc: Seminole Florida

Why would you take the word of publications run by far left zealots over what we can actually see? Oh yea. Because you want to.

buffalo Loc: Texas

You need to shut up, crazy. You keep proving your ignorance. Of course we know what effect the Tax Cuts and Jobs Act will have on the total deficit and debt. History tells us all we need to know. It has been tried before.

http://www.politico.com/interactives/2017/gop-tax-rate-cut-wealthy/

So far, the results of trumpy's tax cuts for the wealthy and big corporations bring to mind an old saying--"If we don't learn from the mistakes of the past we are doomed to repeat them."

JFlorio Loc: Seminole Florida

Just so you don't get to pumped up rooting against America troll the CBO is wrong much more than right. Look it up. Also tax cuts almost always raise the debt when first passed. You sure didn't whine and cry when Obama was raising the debt. I believe that's called selective outrage. Just sit back, enjoy the destruction of the America you wanted and know we know you are a lying troll.
By the way everyone. We haven't had a fiscally responsible congress since the Clinton administration. Some pretty smart people on here. They should know with a debt this large tax cuts (if you believe they stimulate the economy) still aren't nearly enough. Govt. spending must be reduced and real pain will be involved so non-curable pain is not felt later. Is either party talking about this? No. By the time they get out of office most of the damage will be blamed on the next generation politicians.

Viet Nam Vet

When a company sells stock, they are acquiring a loan from the buyer of that stock. In other words sales of a company's stock is debt. Any smart company financial managers will try to reduce a company's debt when ever extra money allows them to do so. Paying dividends on their stock is the payments on those loans (stocks). If you owned a stock company, is that what you would do?

buffalo Loc: Texas

THEN CUT RIDICULOUS MILITARY SPENDING (CORPORATE WELFARE) AND END THE CONTINUAL, ILLEGAL, UNCONSTITUTIONAL IMMORAL WARMONGERING INSTEAD OF GUTTING PROGRAMS LIKE SOCIAL SECURITY AND MEDICARE THAT WORKING PEOPLE PAY TAXES INTO ALL THEIR LIVES!!!

JUST BY CUTTING IT IN HALF AND ELIMINATING THE WASTE AND FRAUD WOULD SAVE $500 BILLION ANNUALLY AND THE US WOULD STILL SPEND MORE THAN ANY OTHER COUNTRY ON EARTH BY MANY BILLIONS.

roy

And what is it when your a company and you have no debt,and your giving a wind fall of tax payers money and buy back stock.

JFlorio Loc: Seminole Florida

Glad you get to decide which wars are illegal, immoral and unnecessary. Even though I do agree trying to be the world's police force is stupid and hugely ineffective and wasteful. Both in lives and dollars. There are now more people working in personnel jobs in the Department of Defense than actual military fighting men and women. We now have staffs for congressman (that only work 100 days a year) that are larger than many departments used to be. Yet you Buffalo are a proponent of bigger government. You are definitely an enigma. Nobody's gutting Social Security. It's being run as designed. The math won't work anymore. We are down to to few people working per people taking out. There are things they should do. Like take the cap of of earnings that are taxed and or raising the age to receive.

JFlorio Loc: Seminole Florida

They let you out of pre-school on the weekends I guess?

https://www.investopedia.com/ask/answers/042015/why-would-company-buyback-its-own-shares.asp

kemmer

Every economist knew exactly that was going to happen. "Trickle down" was shown to be a bust 30 years ago. Some workers got a hundred or two $$ in their pay checks (big f**kin' deal) and the 1% and corporations got billions.

JoyV

You are inflating the figure the WH gave.

"The Tax Cuts Act provides $5.5 trillion in tax cuts, $3.2 trillion, or nearly 60 percent, of which go to families." https://www.whitehouse.gov/briefings-statements/tax-cuts-act-follows-president-donald-j-trumps-promise-middle-class-tax-cuts/