President Donald Trump's newly unveiled budget
contains a massive accounting error that uses the same money twice for
two different purposes. Based on its supersized projections of 3 percent
GDP, the president's budget forecasts about $2 trillion in extra
federal revenue growth over the next 10 years, which it then uses to pay
for Trump's "biggest tax cut in history."
President Donald Trump's newly unveiled budget
contains a massive accounting error that uses the same money twice for
two different purposes. Based on its supersized projections of 3 percent
GDP, the president's budget forecasts about $2 trillion in extra
federal revenue growth over the next 10 years, which it then uses to pay
for Trump's "biggest tax cut in history."
President Donald Trump's newly unveiled budget
contains a massive accounting error that uses the same money twice for
two different purposes. Based on its supersized projections of 3 percent
GDP, the president's budget forecasts about $2 trillion in extra
federal revenue growth over the next 10 years, which it then uses to pay
for Trump's "biggest tax cut in history."
so trump wants to increase the GDp by 50%??? Awesome
President Donald Trump's newly unveiled budget
contains a massive accounting error that uses the same money twice for
two different purposes. Based on its supersized projections of 3 percent
GDP, the president's budget forecasts about $2 trillion in extra
federal revenue growth over the next 10 years, which it then uses to pay
for Trump's "biggest tax cut in history."
so trump wants to increase the GDp by 50%??? Awesome
Thats why you can't trust ANY government person to do anything correctly or efficiently.
By the way. Did you say something back in the day when Obama tried to do a similar thing?
i don't know what similar thing you are referring to or what trump's proposed budget has to do with obama but i'm sure when prior budgets came out, i was critical of the massive amounts we waste on the military industrial complex, the DOJ and the war on drugs.
Thats why you can't trust ANY government person to do anything correctly or efficiently.
By the way. Did you say something back in the day when Obama tried to do a similar thing?
i don't know what similar thing you are referring to or what trump's proposed budget has to do with obama but i'm sure when prior budgets came out, i was critical of the massive amounts we waste on the military industrial complex, the DOJ and the war on drugs.
i don't know what similar thing you are referring to or what trump's proposed budget has to do with obama but i'm sure when prior budgets came out, i was critical of the massive amounts we waste on the military industrial complex, the DOJ and the war on drugs.
Lets try to stay on topic shall we?
I only brought up the fact that when Obamacare was merely a twinkle in Obama's eye, there was a similar accounting snafu and despite my heart wanting to believe that the error made your list of comments at the time, my brain is not holding it's breath -so to speak. We can talk about the war on drugs and other stuff a different time.
https://www.rollcall.com/news/-41856-1.html
0
Quote Originally Posted by ClubDirt:
i don't know what similar thing you are referring to or what trump's proposed budget has to do with obama but i'm sure when prior budgets came out, i was critical of the massive amounts we waste on the military industrial complex, the DOJ and the war on drugs.
Lets try to stay on topic shall we?
I only brought up the fact that when Obamacare was merely a twinkle in Obama's eye, there was a similar accounting snafu and despite my heart wanting to believe that the error made your list of comments at the time, my brain is not holding it's breath -so to speak. We can talk about the war on drugs and other stuff a different time.
I only brought up the fact that when Obamacare was merely a twinkle in Obama's eye, there was a similar accounting snafu and despite my heart wanting to believe that the error made your list of comments at the time, my brain is not holding it's breath -so to speak. We can talk about the war on drugs and other stuff a different time.
https://www.rollcall.com/news/-41856-1.html
i'm not sure i'm following you. the topic seems pretty clearly to be the budget that was just floated out there that appears to have a minor $2 trillion math error, among other issues. you bring up obama in your first and second post and then say, "Lets try to stay on topic shall we?"
are you talking to yourself there? like a self motivation tactic to try and stay focused?
can i help?
come on wordsmyth, stay with us. the budget. that's where we are. you can do it. we've all seen you do it (assuming you've been here before as some allege ). you're off to a slow start here but the thread is till young. we're all rooting for you.
how was that?
0
Quote Originally Posted by wordsmyth:
Lets try to stay on topic shall we?
I only brought up the fact that when Obamacare was merely a twinkle in Obama's eye, there was a similar accounting snafu and despite my heart wanting to believe that the error made your list of comments at the time, my brain is not holding it's breath -so to speak. We can talk about the war on drugs and other stuff a different time.
https://www.rollcall.com/news/-41856-1.html
i'm not sure i'm following you. the topic seems pretty clearly to be the budget that was just floated out there that appears to have a minor $2 trillion math error, among other issues. you bring up obama in your first and second post and then say, "Lets try to stay on topic shall we?"
are you talking to yourself there? like a self motivation tactic to try and stay focused?
can i help?
come on wordsmyth, stay with us. the budget. that's where we are. you can do it. we've all seen you do it (assuming you've been here before as some allege ). you're off to a slow start here but the thread is till young. we're all rooting for you.
i'm not sure i'm following you. the topic seems pretty clearly to be the budget that was just floated out there that appears to have a minor $2 trillion math error, among other issues. you bring up obama in your first and second post and then say, "Lets try to stay on topic shall we?"
are you talking to yourself there? like a self motivation tactic to try and stay focused?
can i help?
come on wordsmyth, stay with us. the budget. that's where we are. you can do it. we've all seen you do it (assuming you've been here before as some allege ). you're off to a slow start here but the thread is till young. we're all rooting for you.
how was that?
Ok, we'll focus on the so called accounting error the article talks about.
Based on this chart, it has been possible to increase the GDP GROWTH rate in some years by as much as 6 and a half + percent. Granted, that came after down years like 2001 when 9/11 hit and the travel industry was kicked in the nuts and trickle down economics persevered and saw us through to some nice 6+ percent gains for 3 consecutive years 2003-2005. Then you can clearly see that the housing bubble was starting to burst ( thanks to liberal policies of lax underwriting for loans ) and by 2008 there was negative growth.
If the GDP growth meets expectations there is no accounting error. If it exceeds expectations even better.
The paradigm of the person that wrote the article is still in Obama mode where government regulations were more likely to choke the economy then allow it to grow.
With Obama gone and Hillary never elected, we don't have to put up with sandbagging of the economy anymore. The restriction plates are OFF.
0
Quote Originally Posted by ClubDirt:
i'm not sure i'm following you. the topic seems pretty clearly to be the budget that was just floated out there that appears to have a minor $2 trillion math error, among other issues. you bring up obama in your first and second post and then say, "Lets try to stay on topic shall we?"
are you talking to yourself there? like a self motivation tactic to try and stay focused?
can i help?
come on wordsmyth, stay with us. the budget. that's where we are. you can do it. we've all seen you do it (assuming you've been here before as some allege ). you're off to a slow start here but the thread is till young. we're all rooting for you.
how was that?
Ok, we'll focus on the so called accounting error the article talks about.
Based on this chart, it has been possible to increase the GDP GROWTH rate in some years by as much as 6 and a half + percent. Granted, that came after down years like 2001 when 9/11 hit and the travel industry was kicked in the nuts and trickle down economics persevered and saw us through to some nice 6+ percent gains for 3 consecutive years 2003-2005. Then you can clearly see that the housing bubble was starting to burst ( thanks to liberal policies of lax underwriting for loans ) and by 2008 there was negative growth.
If the GDP growth meets expectations there is no accounting error. If it exceeds expectations even better.
The paradigm of the person that wrote the article is still in Obama mode where government regulations were more likely to choke the economy then allow it to grow.
With Obama gone and Hillary never elected, we don't have to put up with sandbagging of the economy anymore. The restriction plates are OFF.
if trump can help gets laws passed and otherwise do his job so that we have a 6% or 5% growth in the gdp, i'll be ecstatic and i'll be here to give him credit. i think that's a pipe dream but the good thing is we'll know what the numbers say one way or another so the answer will come.
otherwise, i think the $2 trillion dollar "mistake" is a problem and i think we waste way too much money on big government items like the doj and military industrial complex, as well as welfare (corporate and individual).
0
if trump can help gets laws passed and otherwise do his job so that we have a 6% or 5% growth in the gdp, i'll be ecstatic and i'll be here to give him credit. i think that's a pipe dream but the good thing is we'll know what the numbers say one way or another so the answer will come.
otherwise, i think the $2 trillion dollar "mistake" is a problem and i think we waste way too much money on big government items like the doj and military industrial complex, as well as welfare (corporate and individual).
Mark Sanford already covered why it won't work. I read the article detailing his comments and he made some good points. I actually want Republicans to pass this because I know it'll cause hardship and I want the healthcare bill passed so people can die. It's about time the American people get some tough lessons on life.
0
Mark Sanford already covered why it won't work. I read the article detailing his comments and he made some good points. I actually want Republicans to pass this because I know it'll cause hardship and I want the healthcare bill passed so people can die. It's about time the American people get some tough lessons on life.
Who cares on the specific GDP growth target. Down with the regulations and high tax business tax rate that saps this country of growth.
3%, 4% ? Who gives a Sh!T. Unleash the economy and let it work its magic.
Get the Government out of the way of governing people. It's a goal of all conservatives.
I'd love to see that happen because I'm confident it'd be a disaster. However, what Sanford pointed out wasn't just the GDP growth as a percentage. He also talked about what the average economic expansion has been historically for the number of months in a row (58), then mentioned what the growth has been since Obama took office (94), which has currently outpaced that, then he finally pointed out Trump's budget anticipates 214 months of continued expansion, something that'd be unprecedented and has never happened in the history of this country. He also asked Mulvaney when was the last time the unemployment rate was at 4.8%, growth at 3% and inflation at 2%. When Mulvaney couldn't respond, he told him it's never happened.
Good luck with something that sounds like a fairy tale.
0
Quote Originally Posted by Rush51:
Who cares on the specific GDP growth target. Down with the regulations and high tax business tax rate that saps this country of growth.
3%, 4% ? Who gives a Sh!T. Unleash the economy and let it work its magic.
Get the Government out of the way of governing people. It's a goal of all conservatives.
I'd love to see that happen because I'm confident it'd be a disaster. However, what Sanford pointed out wasn't just the GDP growth as a percentage. He also talked about what the average economic expansion has been historically for the number of months in a row (58), then mentioned what the growth has been since Obama took office (94), which has currently outpaced that, then he finally pointed out Trump's budget anticipates 214 months of continued expansion, something that'd be unprecedented and has never happened in the history of this country. He also asked Mulvaney when was the last time the unemployment rate was at 4.8%, growth at 3% and inflation at 2%. When Mulvaney couldn't respond, he told him it's never happened.
Good luck with something that sounds like a fairy tale.
Who cares on the specific GDP growth target. Down with the regulations and high tax business tax rate that saps this country of growth.
3%, 4% ? Who gives a Sh!T. Unleash the economy and let it work its magic.
Get the Government out of the way of governing people. It's a goal of all conservatives.
the gdp matters because you can't cut taxes for corporations and the rich while increasing spending on things like the military industrial complex without exploding the debt (much of which is held by china), especially with interest rates going up at some point. there is nothing "conservative" about spending a shitload of money, going into debt, not paying your debt and then letting other people get buried with the interest. that might be the opposite of conservatism.
better growth and a better gdp will help offset that loss in revenue.
so, to answer your question of who cares? true liberals don't care much, sometimes when republicans are in charge. republican "conservatives" care the least when they are in charge and pretend to care when democrats are in charge. real conservative care.
0
Quote Originally Posted by Rush51:
Who cares on the specific GDP growth target. Down with the regulations and high tax business tax rate that saps this country of growth.
3%, 4% ? Who gives a Sh!T. Unleash the economy and let it work its magic.
Get the Government out of the way of governing people. It's a goal of all conservatives.
the gdp matters because you can't cut taxes for corporations and the rich while increasing spending on things like the military industrial complex without exploding the debt (much of which is held by china), especially with interest rates going up at some point. there is nothing "conservative" about spending a shitload of money, going into debt, not paying your debt and then letting other people get buried with the interest. that might be the opposite of conservatism.
better growth and a better gdp will help offset that loss in revenue.
so, to answer your question of who cares? true liberals don't care much, sometimes when republicans are in charge. republican "conservatives" care the least when they are in charge and pretend to care when democrats are in charge. real conservative care.
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