17-11-2018, 19:47
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#2227
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laeva recumbens anguis
Cable Forum Team
Join Date: Jun 2006
Age: 67
Services: Premiere Collection
Posts: 42,239
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Re: President Trump & U.S Election 2016 Investigation
Pity the deficit and debt are increasing...
https://eu.usatoday.com/story/opinio...mn/1657338002/
Quote:
According to the Monthly Treasury Statement for fiscal 2018, the year that just ended Sept. 30, the deficit was $779 billion — a $113 billion, 17 percent increase over the $666 billion deficit recorded last year.
This was the biggest one-year increase in the deficit since 2009, when the Great Recession wreaked havoc on federal finances. At 3.9 percent, it was the largest deficit compared with gross domestic product since 2013.
The bottom line 2018 deficit number is significant because it occurred during good economic times, when the federal deficit typically falls rather than spikes. But that's not the most important story. A simple analysis of what Treasury reported shows that virtually the entire deficit increase was because the tax cut enacted in December reduced revenues substantially.
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https://www.thebalance.com/trump-pla...l-debt-4114401
Quote:
National Debt Since Trump Took Office
At first, it seemed Trump was lowering the debt. It fell $102 billion in the first six months after Trump took office. On January 20th, the day Trump was inaugurated, the debt was $19.9 trillion. On July 30, it was $19.8 trillion, a decrease of $102 billion. But it was not because of anything he did. Instead, it was because of the federal debt ceiling.
On September 8, 2017, Trump signed a bill increasing the debt ceiling. Later that day, the debt exceeded $20 trillion for the first time in U.S. history. On February 9, 2018, Trump signed a bill suspending the debt ceiling until March 1, 2019. On March 15, 2018, the debt exceeded $21 trillion. The debt will continue to increase until the 2019 deadline. The Committee for a Responsible Federal Budget estimates it could be $22 trillion by then. If so, Trump will have overseen the fastest dollar increase in the debt in just three years.
Trump's Fiscal Year 2019 budget projects the debt will increase $8.3 trillion during his first term. It's almost as much as Obama added in two terms while fighting a recession. Trump has not fulfilled his campaign promise to cut the debt. Instead, he's done the opposite.
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