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Re: Trump drives federal deficit to $1 trillion

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On 7/30/18 6:25 AM, -hh wrote:
> On Monday, July 30, 2018 at 8:33:00 AM UTC-4, chrisv wrote:
>> -hh wrote:
>>> RonB wrote:
>>>>
>>>>   chrisv wrote:
>>>>>
>>>>> http://thehill.com/policy/finance/382033-deficit-nears-600-billion-in-first-half-of-2018
>>>>> It's easy to live "the good life".  Just "borrow" more money!
>>>>
>>>> And this all started with Trump, right?
>>>
>>> We’ve just had years of fiscal austerity as job#1 from the
>>> Republicans...and suddenly that’s all changed when they gave
>>> huge tax cuts to big business last December.
>>>
>>> So yes.  You’re absolutely correct RonB.
>>
>> Apparently the "modern" right-wingers flunked freshman economics.
> 
> To be fair, I don't really recall the principles of Keynesian
> economics being covered in basic Economics classes, at least by
> that particular name.  Even so, its basics are effectively just
> an application of the classical supply vs demand on a macro level.
> 
> <https://en.wikipedia.org/wiki/Keynesian_economics>
>   
>> When times are good, we should be pay-back the deficit.  Instead,
>> they think it's a good idea to borrow even more, over-stimulating
>> the economy and leading to a bubble that eventually bursts.  Just
>> like Bush-league did.
> 
> True, that's been the effect but I don't necessarily believe that
> that's their base motivation.  Instead, its one where when times
> are good, they believe that they 'deserve' a tax break in lieu of
> keeping tax rates up to pay down the deficit to be ready for the
> next economic downturn cycle.
> 
> Overall, this is a very shortsighted and selfish "I got mine" that
> functions on the externality of debt transfer to others.
> 
> Historically, it was said that this debt transfer externality was
> a shift to their children & grandchildren, but this is no longer
> the case, as income mobility in the USA has declined:
> 
> <https://www.seattletimes.com/business/economy/the-shocking-decline-in-american-economic-mobility/>
> <https://www.businessinsider.com/social-mobility-is-on-the-decline-and-with-it-american-dream-2017-7>
> <https://www.minneapolisfed.org/institute/working-papers/17-21.pdf>
> 
> As such, these biases are increasingly generationally perpetuated.
> Case in point, the effective abolishment of the Fed Inheritance Tax:
> 
> <https://money.cnn.com/2018/01/09/pf/taxes/estate-tax/index.html>
> 
> 
> -hh
> 

Good info... thanks.

-- 
Personal attacks from those who troll show their own insecurity. They 
cannot use reason to show the message to be wrong so they try to feel 
somehow superior by attacking the messenger.

They cling to their attacks and ignore the message time and time again.

<https://youtu.be/H4NW-Cqh308>

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Trump drives GDP to 4.2% SilverSlimer <silver@slim.er> - 2018-07-27 13:28 +0000
  Re: Trump drives GDP to 4.2% SilverSlimer <silver@slim.er> - 2018-07-27 13:28 +0000
  Trump drives federal deficit to $1 trillion chrisv <chrisv@nospam.invalid> - 2018-07-27 08:54 -0500
    Re: Trump drives federal deficit to $1 trillion Steve Carroll <frelwizzen@gmail.com> - 2018-07-27 07:44 -0700
    Re: Trump drives federal deficit to $1 trillion SilverSlimer <silver@slim.er> - 2018-07-27 15:47 +0000
      Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-27 09:26 -0700
        Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-27 12:06 -0700
          Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-27 13:04 -0700
            Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-27 13:29 -0700
              Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-27 14:21 -0700
              Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-28 08:19 -0700
                Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-28 08:39 -0700
                Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-28 09:05 -0700
      Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-27 11:59 -0700
        Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-27 12:05 -0700
          Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-27 12:17 -0700
            Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-27 14:10 -0700
              Re: Trump drives federal deficit to $1 trillion SilverSlimer <silver@slim.er> - 2018-07-27 21:19 +0000
                Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-28 08:16 -0700
                Re: Trump drives federal deficit to $1 trillion Steve Carroll <frelwizzen@gmail.com> - 2018-07-28 08:55 -0700
              Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-28 08:13 -0700
          Re: Trump drives federal deficit to $1 trillion SilverSlimer <silver@slim.er> - 2018-07-27 20:42 +0000
            Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-27 13:52 -0700
    Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-27 11:51 -0700
    Re: Trump drives federal deficit to $1 trillion RonB <ronb02NOSPAM@gmail.com> - 2018-07-27 19:30 +0000
      Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-27 13:04 -0700
      Re: Trump drives federal deficit to $1 trillion -hh <recscuba_google@huntzinger.com> - 2018-07-28 09:42 -0700
        Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-28 09:49 -0700
          Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-28 12:49 -0700
            Re: Trump drives federal deficit to $1 trillion Steve Carroll <frelwizzen@gmail.com> - 2018-07-28 13:06 -0700
            Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-29 10:00 -0700
              Re: Trump drives federal deficit to $1 trillion Steve Carroll <frelwizzen@gmail.com> - 2018-07-29 10:26 -0700
              Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-29 12:23 -0700
                Re: Trump drives federal deficit to $1 trillion Steve Carroll <fretwizzer@gmail.com> - 2018-07-29 12:59 -0700
                Re: Trump drives federal deficit to $1 trillion Steve Carroll <frelwizzen@gmail.com> - 2018-07-29 13:50 -0700
                Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-29 16:18 -0700
        Re: Trump drives federal deficit to $1 trillion chrisv <chrisv@nospam.invalid> - 2018-07-30 07:32 -0500
          Re: Trump drives federal deficit to $1 trillion -hh <recscuba_google@huntzinger.com> - 2018-07-30 06:25 -0700
            Re: Trump drives federal deficit to $1 trillion Steve Carroll <frelwizzen@gmail.com> - 2018-07-30 06:43 -0700
            Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-30 09:00 -0700
          Re: Trump drives federal deficit to $1 trillion Snit <usenet@gallopinginsanity.com> - 2018-07-30 08:59 -0700
  Re: Trump drives GDP to 4.2% -hh <recscuba_google@huntzinger.com> - 2018-07-27 07:26 -0700
    Re: Trump drives GDP to 4.2% Steve Carroll <fretwizzer@gmail.com> - 2018-07-27 09:30 -0700
      Re: Trump drives GDP to 4.2% Snit <usenet@gallopinginsanity.com> - 2018-07-27 12:07 -0700
    Re: Trump drives GDP to 4.2% Snit <usenet@gallopinginsanity.com> - 2018-07-27 11:52 -0700
  Re: Trump drives GDP to 4.2% Snit <usenet@gallopinginsanity.com> - 2018-07-27 11:14 -0700
    Re: Trump drives GDP to 4.2% Steve Carroll <frelwizzen@gmail.com> - 2018-07-27 11:55 -0700
    Re: Trump drives GDP to 4.2% Steve Carroll <frelwizzen@gmail.com> - 2018-07-27 12:10 -0700
  Re: Trump drives GDP to 4.2% Kompyler <kompyler@toke.com> - 2018-07-29 00:40 +0000
    Re: Trump drives GDP to 4.2% Steve Carroll <frelwizzen@gmail.com> - 2018-07-28 18:16 -0700
    Re: Trump drives GDP to 4.2% Steve Carroll <frelwizzen@gmail.com> - 2018-07-28 19:03 -0700

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