Budget deal increases federal deficit by hundreds of billions of dollars


#1

Budget deal increases federal deficit by hundreds of billions of dollars

By Stephen Dinan and Dave Boyer - The Washington Times - Wednesday, December 16, 2015

Having reached a deal on a nearly $2 trillion deal to keep the government open, President Obama and congressional leaders tried to build support Wednesday for the massive bill, which hikes spending across government, thrilling Democrats, and extends a host of special interest tax breaks, exciting Republicans.

Racehorses and NASCAR racetracks, school teachers and college students, green energy companies and the big oil giants all made out well in the deal, reached overnight after weeks of negotiations. The chief loser, meanwhile, is the federal deficit, which grows by hundreds of billions of dollars under the terms of the tax deal.

Mr. Obama gloated over the agreement, saying he got nearly everything he wanted and gave up very little . . . .

washingtontimes.com/news/2015/dec/16/budget-deal-increases-federal-deficit-by-hundreds-/


#2

So, in other words, all of the special interests made out well, while the middle class will be left to pick up the pieces.

Folks, this is why Trump has so much support.


#3

I agree, its very curious how the ‘career politicians’ seem to despise trump…what did they expect, CHANGE never came with Obama, it was the same old re runs from past politicians, time for something new.

All the Govt ‘black budget’ recipients made out good too, the usual $1.7 TRILLION a year…when are they going to face cutbacks? lol

Another thing, they dont seem to even be concerned with the debt ceiling thing anymore, whenever it comes up, certain people make talk about it for awhile and then it ends up getting approved to increase it, time and time again, its almost a non-issue anymore…this cannot go on forever though.


#4

This too, in my opinion Mike, is why there are many Independents that are Conservatives but they don’t register as Republicans because such episodes as this are indeed disappointing. And after, I figured Paul Ryan is a good guy, strong Catholic, dubbed the “last boy scout”, I’m sure he could explain this but some of this budget deal I certainly do not like at all.

I’ve heard Ryan speak and it sounds like he really cares about his constituency but it is hard to see that with this.


#5

I asked this on another post, but nobody answered yet.

So since this thread specifically concerns the “federal deficit”, it is reasonable to ask it here too.

(I am serious. I am not saying Senator McConnell is making this stuff up, but I just don’t know what he is talking about here. Do any of you know?)

Concerning the December 2015 Omnibus spending bill, Senator Mitch McConnell stated (emphasis mine) . . . .

Quote:
We passed a balanced budget for the first time since 2001.”

Senator McConnell said this between 46 seconds and 52 seconds (here and here).

In light of the record-breaking national debt (here), can someone tell me what Senator McConnell means by approving . . . .“a balanced budget”??

The federal deficit is essentially 19 Trillion dollars (18.8 Trillion dollars), yet Senator McConnell is stating . . . . "We passed a balanced budget."

What is Senator McConnell alluding to?


#6

That does not sound too ‘balanced’ to me!

I dont think many people realize just how MUCH money $1 trillion dollars is, ( equal to 1000 Billion)!!!..I read something awhile back, it said from the time when Lincoln was president up about the 1970s, a TOTAL of $1 Trillion was spent…nowadays we are blowing thru almost $19 Trillion PER YEAR…GEEZ???


#7

Thanks mikekle.

I can’t imagine a trillion of anything.

But I think the debt being 19 TRILLION is not per year but rather as an accumulation of our US Government Federal debt.

But that is still “higher than I can count”.

A nineteen TRILLION dollar US debt is flirting with catastrophic financial consequences for our country.

I think this could be a security risk that the political candidates frequently seem to ignore when they publicly discuss our country’s security risks (US security risk has been an overarching theme in presidential debates, news stories, and the public consciousness as of late . . . but few seem to be overly concerned about this risk!).


#8

Yea, you are right, its not a yearly total, but it is ALOT of money, not to mention, more than likely debt is only going to increase more and more in the future, I mean, I dont see a point in the near future where we are well off enough to lower the debt in anyway.

I hate to think what it will be in another 100 yrs, will it surpass trillions, and go into the quadrillions?


#9

If people really cared about the budget they would not keep voting their representatives back into office. Congress is who is ultimately responsible and if they are supporting Trump for POTUS because of what congress does then they need to take a civics lesson.


#10

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