That's Libertarian
The Trump Budget
- Thread starter WizardofOz
- Start date
:mock: tender mercies
Presumably "patrick jane" would have us believe that the take-away message from Christ's "Parable of the Good Samaritan" would be that instead of demonstrating compassion, we should defer to "libertarian" principles by abandoning our less fortunate "neighbours" to the mercies of the private marketplace - how very "Christian" of us!
We, as conservative intellectuals, should not be in the business of making excuses for bad parliamentary decisions by Republican leaders in Congress.
-David Frum
https://www.brainyquote.com/quotes/quotes/d/davidfrum438769.html?src=t_conservative
WizardofOz
New member
Trump Budget Makes It Official: You’re Paying For The Wall, Not Mexico
Spoiler
No, but you may convert it to pesos to complement the Trump scam!
awwww
i was hoping to get salma hayek
No worries...you could've got stuck with Danny Trejo.
WizardofOz
New member
Trump releases $1.1 trillion budget.
Has anyone had a chance to look at the details? The link above has a PDF version of the entire budget for anyone interested.
Has anyone had a chance to look at the details? The link above has a PDF version of the entire budget for anyone interested.
WizardofOz
New member
White House says full fiscal 2018 budget to be released on May 23
As a way to move forward from the other issues Trump has been having lately, I do look forward to his full 2018 budget being released. Hopefully if nothing else, there will be some fiscal sanity but with his massive increase in defense spending and desire to build a money pit of a border wall, I'll have to wait and see if it actually happens.
Anyone want to offer up what they hope to see before the entire budget is released?
As a way to move forward from the other issues Trump has been having lately, I do look forward to his full 2018 budget being released. Hopefully if nothing else, there will be some fiscal sanity but with his massive increase in defense spending and desire to build a money pit of a border wall, I'll have to wait and see if it actually happens.
Anyone want to offer up what they hope to see before the entire budget is released?
http://www.reuters.com/article/us-usa-budget-yields-analysis-idUSKBN18K2OQ?il=0
There are other articles out there about the unfeasibility of Trump's numbers.
U.S. interest rates may pose risk to Trump budget's optimistic assumptions If President Donald Trump's budget does touch off an economic boom that pushes growth up to 3 percent a year as it assumes, the government's borrowing is likely to cost much more than has been factored into the administration's fiscal proposals. Along with costing the government more, rising rates could crimp spending among households and companies, cutting into the very growth that the administration is counting on to eliminate government deficits over the next decade. Economists say there is a rough, but direct, tie between economic growth and the 10-year Treasury bond used as a benchmark in government budgeting. If the U.S. economy did shift into a higher gear and begin growing at 3 percent on a sustained basis, Treasury bond yields would likely move far beyond the 3.8 percent rate the administration has assumed - possibly edging towards 5 percent based on historical data. That would push the Federal Reserve into a broad reassessment of its own policy that has so far been one of incremental and slow interest rate rises to keep the economy growing. "The rough rule of thumb is that the average 10-year yield should be sort of close to (gross domestic product) growth," which in the current budget would be 5 percent including an assumed inflation rate of around 2 percent, said Paul Ashworth, chief U.S. economist for Capital Economics. "Trump's budget is a return to the pre-financial crisis world," where the rate curve from the Fed's overnight lending to the longest-term bonds were higher across the board, he said. The net effect on interest rates would be complex, hinging on whether government deficits do in fact decline as the administration contends - a fact that would offset the higher cost of issuing new bonds - and how the higher interest rate environment affects economic growth. It would also depend on how the Fed reacts, and whether inflation in that environment remains a tame and steady 2 percent. The Treasury rate projection is just one of a number of assumptions in the Trump budget that economists have criticized, with the assumed return to 3 percent growth regarded as notably unrealistic. Trend U.S. growth is currently considered to be around 2 percent, low by historic standards but now regarded as a likely norm in an economy that is aging, and in which the annual growth in worker productivity has slowed. |
There are other articles out there about the unfeasibility of Trump's numbers.
Yeppers.
WizardofOz
New member
CBO: Trump's budget doesn't balance federal ledger
| A new government analysis of President Donald Trump's budget plan says it wouldn't come close to balancing the federal ledger like the White House has promised. Thursday's Congressional Budget Office report says that Trump's budget, if followed to the letter, would result in a $720 billion deficit at the end of 10 years instead of the slight surplus promised. CBO said Trump's budget would reduce the deficit by a total of $3.3 trillion over 10 years instead of the $5.6 trillion deficit cut promised by the White House. The nonpartisan scorekeeper estimated that deficits in each of the coming 10 years will exceed the $585 billion in red ink posted last year. CBO says that Trump relied on far too optimistic predictions of economic growth and that Trump's rosy projections are the chief reason his budget doesn't balance as promised. "Nearly all of that (deficit) difference arises because the administration projects higher revenue projections — stemming mainly from a projection of faster economic growth," CBO said. Trump's budget predicts that the U.S. economy will soon ramp up to annual growth in gross domestic product of 3 percent; CBO's long-term projections predict annual GDP growth averaging 1.9 percent. "The CBO report shows that the president built his budget on fantasy projections," said Rep. John Yarmuth of Kentucky, the top Democrat on the House Budget Committee. Trump's May budget submission proposed jarring, politically unrealistic cuts to the social safety net for the poor and a swath of other domestic programs. Many of its recommendations were deemed dead on arrival and are being ignored by Republicans controlling Congress. CBO also said that the Trump budget contained too little detail to accurately predict its effects on the economy. The White House promised that its juiced-up economic projections will produce $2.1 trillion in deficit reduction, mostly from overhauling the tax code and reducing the burden regulations have on the economy. But Trump's tax overhaul plan is so far so sketchy that it can fit on a single page. |
WizardofOz
New member
You called that one correctly. Anytime Trump's liberal spending is brought up, that is the exact crutch they fall back to.
Amen!!
Any real conservative will say AMEN to increasing military spending and law enforcement budgets and cutting the EPA, foreign aid and non-defense federal agencies.
Are you the conservative you claim to be or are you the liar I know you are.
Say "AMEN" to increasing military spending and law enforcement budgets and cutting the EPA, foreign aid and non-defense federal agencies.
Say it.
Say it!
WizardofOz
New member
Any fiscal conservative would like to decrease spending and balance a budget for once. I am all for cutting the EPA, foreign aid, etc. We spend far too much and need to cut more. We don't need to increase the deficit, which is exactly what Trump is going to do. He's spending quite liberally. :think:
Any "real" conservative will have a problem with that.
You're a Republican, not a (fiscal) conservative.
drbrumley
Well-known member
LOL!!!! Im guessing ole CC here probably never met a budget.