Budget deficit to top $1 trillion in 2020

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B-Tender
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Re: Budget deficit to top $1 trillion in 2020

#51

Post by B-Tender »

Cassandros wrote: Fri Aug 23, 2019 1:26 am
CaptQuint wrote: Fri Aug 23, 2019 12:43 am
Cassandros wrote: Fri Aug 23, 2019 12:41 am
CaptQuint wrote: Fri Aug 23, 2019 12:40 am
Cassandros wrote: Fri Aug 23, 2019 12:39 am
CaptQuint wrote: Fri Aug 23, 2019 12:30 am Is it?
Yes.

Very much so.

And I encourage you to find that inner desire to learn why...

(But don't worry, I am not holding my breathe).
No, please do
Why?
Because if you hold your breath long enough you will die
A couple things...
1) Pretty sure you will just pass out. (Unless, you know, you have some fucked up medical condition).

2) That's a pretty fucked up thing to say to someone.

I know the media tells us to hate our neighbor, especially if they root for another team. BUT we have to be better than that if we want to move forward as a species. This particular topic affects us equally, red, blue, and indifferent. You are hung up on this irrational spending going into 2020, I am telling you this irrational spending has been going on much longer than a year, or even a few years. It does not matter who you elect in the White House, spending comes from Congress and they follow a system that can only borrow more and more. By 2024 do not be surprised when we are spending a trillion dollars ever six months.
I'm saying this in a very bored voice: No Shit!

The reason I started this thread is people have become immune to the numbers. I posted a very simple message to start:. There needs to be pain.
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Cassandros
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Re: Budget deficit to top $1 trillion in 2020

#52

Post by Cassandros »

B-Tender wrote: Fri Aug 23, 2019 2:22 am The reason I started this thread is people have become immune to the numbers. I posted a very simple message to start:. There needs to be pain.
I agree.

But I fear that correction, that mighty and long over due hangover, will never come.

The game is rigged so the party never ends.
“The society that puts equality before freedom will end up with neither, the society that puts freedom before equality will end up with a great deal of both.” --Milton Friedman
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CHEEZY17
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Re: Budget deficit to top $1 trillion in 2020

#53

Post by CHEEZY17 »

Cuts not only need to happen now theyve needed to happen for awhile. Closing some loopholes would also help.
5-10% cut across the board.
"When governments fear the people, there is liberty. When the people fear the government, there is tyranny."
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AnalHamster
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Re: Budget deficit to top $1 trillion in 2020

#54

Post by AnalHamster »

CHEEZY17 wrote: Fri Aug 23, 2019 11:32 am Cuts not only need to happen now theyve needed to happen for awhile. Closing some loopholes would also help.
5-10% cut across the board.
So cut the sole income stream for everyone relying on SS by 5-10%, cut the VA budget by 10%, throw 10% of people off medicaid and medicare?
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Charliesheen
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Re: Budget deficit to top $1 trillion in 2020

#55

Post by Charliesheen »

1% cut a year would do it. When democrats and republicans work together it's always to fuck the taxpayers.
A cunt is a cunt by any other name.
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Re: Budget deficit to top $1 trillion in 2020

#56

Post by FSchmertz »

Charliesheen wrote: Fri Aug 23, 2019 12:18 pm 1% cut a year would do it. When democrats and republicans work together it's always to fuck the taxpayers.
Well, at least they agree on SOMETHING! ;) :lol:
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Re: Budget deficit to top $1 trillion in 2020

#57

Post by CHEEZY17 »

AnalHamster wrote: Fri Aug 23, 2019 12:17 pm
CHEEZY17 wrote: Fri Aug 23, 2019 11:32 am Cuts not only need to happen now theyve needed to happen for awhile. Closing some loopholes would also help.
5-10% cut across the board.
So cut the sole income stream for everyone relying on SS by 5-10%, cut the VA budget by 10%, throw 10% of people off medicaid and medicare?
Pretty much. Cuts are never easy. If you start trying to pick and choose it will never happen.
"When governments fear the people, there is liberty. When the people fear the government, there is tyranny."
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Re: Budget deficit to top $1 trillion in 2020

#58

Post by AnalHamster »

CHEEZY17 wrote: Fri Aug 23, 2019 12:41 pm
AnalHamster wrote: Fri Aug 23, 2019 12:17 pm
CHEEZY17 wrote: Fri Aug 23, 2019 11:32 am Cuts not only need to happen now theyve needed to happen for awhile. Closing some loopholes would also help.
5-10% cut across the board.
So cut the sole income stream for everyone relying on SS by 5-10%, cut the VA budget by 10%, throw 10% of people off medicaid and medicare?
Pretty much. Cuts are never easy. If you start trying to pick and choose it will never happen.
Yeah, I don't think killing the old and the poor is going to fly. Your basic idea that it's easier to cut everything without discrimination than it is to target cuts at things that won't kill people is flawed. Ultimately though ya'll are just going to have to raise taxation to be more in line with OECD norms.
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Re: Budget deficit to top $1 trillion in 2020

#59

Post by CaptQuint »

Stocks are plunging after China retaliates with tariffs on $75 billion worth of US goods

Global stocks and oil prices dropped on Friday after China retaliated against upcoming US tariffs by announcing duties on $75 billion worth of US goods.
China's tariff schedule matches the US timeline, with some duties taking effect on September 1 and the remainder on December 15. The second tranche includes a 25% tariff on US auto imports.
"China is back with vengeance and today's action has taken the ongoing trade war between the two countries into another territory," Naeem Aslam, chief market analyst at TF Global Markets UK, said in research note.

"The biggest fear for markets is now is the counter reaction from Donald Trump, who has been giving the wrong signal to markets that the trade war issue isn't a problem."
News of the tariffs hammered oil prices in particular.
"We have seen the biggest drop in the oil market as traders know that this trade war is going to impact the global grow," Aslam said. "In terms of equity markets, the only trade is to sell and get out of it."
Here's the market roundup as of 8:52 a.m. EST:
US stocks are poised for a negative open. Futures underlying the Dow Jones Industrial Average and the S&P 500 were down 0.4%, while Nasdaq futures slide 0.6%.
European equities dropped with Germany's DAX down 0.5% and the Euro Stoxx 50 down 0.3%. Britain's FTSE 100 pared earlier gains to trade almost flat.
Asian indexes closed higher with China's Shanghai Composite and Hong Kong's Hang Seng up 0.5%, while Japan's Nikkei rose 0.4%.
Oil prices plunged with West Texas Intermediate crude down 2.7% at $53.90 a barrel, and Brent crude down 1.8% at $58.90.
Gold rallied by 0.2% to $1,511.
Stocks rose earlier on Friday as traders wagered Federal Reserve Chair Jerome Powell will confirm an expected cut to interest rates in September during his speech in Jackson Hole, Wyoming today.
"To say that the stakes are high for the meeting is an understatement," Jasper Lawler, head of research at London Capital Group, said in a morning note. "Powell will take to the stage less than a month after the Fed's first interest rate cut in a decade and amid market expectations of another cut next month."
Markets are pricing in about a 94% chance of a rate cut in September, Lawler said. A surprise contraction in domestic manufacturing activity this month, according to IHS Markit data released this week, has fueled hopes of central bank action.
President Donald Trump is also pressuring Powell and the Fed to take more aggressive action, and has called for a cut of 100 basis points.
However, employment and retail sales data have remained strong, pointing to a robust US economy. Three of the Fed's policymakers – Esther George, Patrick Harker, and Eric Rosengren —are also opposed to further rate cuts.

"Unless the hard economic data suggest a steep decline in the US economy's trajectory, then policymakers need not embark on a major easing cycle," Han Tan, market analyst at FXTM, said in a morning note. "Instead, they can be contented with just some 'insurance' rate cuts."


https://markets.businessinsider.com/new ... 1028469037
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Re: Budget deficit to top $1 trillion in 2020

#60

Post by CHEEZY17 »

Want to bet the market will be up on Monday?
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Re: Budget deficit to top $1 trillion in 2020

#61

Post by PimpDaddy »

DJ up 10% YTD. Where is the outrage? 3rd wave!!!
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AnalHamster
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Re: Budget deficit to top $1 trillion in 2020

#62

Post by AnalHamster »

PimpDaddy wrote: Fri Aug 23, 2019 4:32 pm DJ up 10% YTD. Where is the outrage? 3rd wave!!!
Flat over an actual year though, and even chump is seeing the warning signs of the downturn now. That's why he's simultaneously trying to claim the economy is super strong yet also needs a massive stimulus on top of the trillion dollar deficit due to everyone conspiring against him.
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Re: Budget deficit to top $1 trillion in 2020

#63

Post by PimpDaddy »

AnalHamster wrote: Fri Aug 23, 2019 4:36 pm
PimpDaddy wrote: Fri Aug 23, 2019 4:32 pm DJ up 10% YTD. Where is the outrage? 3rd wave!!!
Flat over an actual year though, and even chump is seeing the warning signs of the downturn now. That's why he's simultaneously trying to claim the economy is super strong yet also needs a massive stimulus on top of the trillion dollar deficit due to everyone conspiring against him.
And up 30% since Trump got in. The point is economy goes up and down, and will forever. US has been doing fine for too long, and we are due for a downturn. But it is scary Trump has a mindset to make shit look good on paper, and someone else can clean up the mess later... As suggested earlier, it's time to pay the piper and take a painful knock on the chin, but no one wants that on their clock.
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Re: Budget deficit to top $1 trillion in 2020

#64

Post by AnalHamster »

PimpDaddy wrote: Fri Aug 23, 2019 4:47 pm
AnalHamster wrote: Fri Aug 23, 2019 4:36 pm
PimpDaddy wrote: Fri Aug 23, 2019 4:32 pm DJ up 10% YTD. Where is the outrage? 3rd wave!!!
Flat over an actual year though, and even chump is seeing the warning signs of the downturn now. That's why he's simultaneously trying to claim the economy is super strong yet also needs a massive stimulus on top of the trillion dollar deficit due to everyone conspiring against him.
And up 30% since Trump got in. The point is economy goes up and down, and will forever. US has been doing fine for too long, and we are due for a downturn. But it is scary Trump has a mindset to make shit look good on paper, and someone else can clean up the mess later... As suggested earlier, it's time to pay the piper and take a painful knock on the chin, but no one wants that on their clock.
Continuing trends did continue after he got in, yes. Now you're facing a downturn while already running trillion dollar deficits and fighting a couple of trade wars, good times.
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Re: Budget deficit to top $1 trillion in 2020

#65

Post by PimpDaddy »

Yup, it's gonna hurt. Just like every other time. That's why we should cut back on silly shit, and worry about the US for a bit. Get our own house in order. Not saying stop, but certainly cut back.
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Re: Budget deficit to top $1 trillion in 2020

#66

Post by AnalHamster »

chump twitter wrote:As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great......My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far........better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing......your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,........all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!
He's really upping the crazy lately.
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Re: Budget deficit to top $1 trillion in 2020

#67

Post by PimpDaddy »

AnalHamster wrote: Fri Aug 23, 2019 5:20 pm
chump twitter wrote:As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great......My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far........better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing......your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,........all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!
He's really upping the crazy lately.
If he gets it all out at once, he can relax this weekend. Brilliant!
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Re: Budget deficit to top $1 trillion in 2020

#68

Post by CaptQuint »

We should buy a large landmass another nation doesn't want to sell and build a massive fortification on the southern border. Ya know, cut the silly stuff.
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Re: Budget deficit to top $1 trillion in 2020

#69

Post by CaptQuint »

President Donald John Trump: " It is currently year 2019, The highest year on record. No one has seen anything like it and it occurred during my Presidency!"


Trump supporters: OMG! Him very stable genius! MAGA! MAGA! Obummmer! Killery! LOCK THEM UP! SEND THEM BACK!
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Re: Budget deficit to top $1 trillion in 2020

#70

Post by CaptQuint »

Image

Trump made up those 'high-level' Chinese trade-talk calls to boost markets, aides admit

On Monday morning, President Trump told reporters in Biarritz, France, that "China called last night" and said they want to resume trade talks, later elaborating that two "high-level" Chinese officials had called to try and restart stalled negotiations. He turned to Treasury Secretary Steven Mnuchin for backup, and Mnuchin said there had been "communication," later amending it to "communications."

Well, "aides privately conceded the phone calls Trump described didn't happen the way he said they did," CNN reported Wednesday. "Instead, two officials said Trump was eager to project optimism that might boost markets, and conflated comments from China's vice premier with direct communication from the Chinese."

Trump is agitated, CNN reports, because "the economy is flashing warning signs Trump didn't expect, his trade war with China is dragging on months longer than expected yet he refuses to give in," and he's "spinning to find victories to sell to voters." The voters may be fooled — China apparently isn't.


https://theweek.com/speedreads/861872/t ... ides-admit
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