Trump adds $1 TRILLION in DEBT (with pitifully insignificant economic growth)

mentalfloss

mentalfloss

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Senate GOP tax bill would add $1 trillion to the debt, new congressional analysis shows

WASHINGTON – The Republican tax bill now pending in the Senate would increase the national debt by more than $1 trillion over the next ten years, even taking into account new economic growth sparked by the lower tax rates, according to a nonpartisan congressional analysis released on Thursday.

Thursday’s report from the Joint Committee on Taxation could introduce fresh uncertainty to the Senate deliberations just as Republicans appeared to be on the brink of passing their sweeping tax package.

The joint committee’s analysis estimated that the GOP bill would increase the nation’s gross domestic product by about .8 percent, increasing revenues by about $458 billion over ten years. But the bill would cost the treasury $1.5 trillion over ten years, so the new revenue would fall far short of covering that tab.

https://www.usatoday.com/story/news...t-new-congressional-analysis-shows/909409001/
 
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avro25

avro25

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Re: Trump to add $1 TRILLION in DEBT

Trump debt good.....shiny pony debt bad.
 
mentalfloss

mentalfloss

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Re: Trump to add $1 TRILLION in DEBT

Trump debt won't benefit the economy enough to cover the cost so must be doubleplusgood.
 
avro25

avro25

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Re: Trump to add $1 TRILLION in DEBT

Reagan the saint tripled the US debt.

Cretien paid down our debt until the cons showed up.

Tecumsehsbones said:
Yeah, you'd think he'd register as a Democrat.
Click to expand...
Trump was a Democrat about the same time Clinton was balancing the budget..... then dementia set in.
 
mentalfloss

mentalfloss

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Re: Trump adds $1 TRILLION in DEBT

And not a peep from the Trumptards was heard that day.
 
Walter

Walter

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Re: Trump adds $1 TRILLION in DEBT

mentalfloss said:



Senate GOP tax bill would add $1 trillion to the debt, new congressional analysis shows

WASHINGTON – The Republican tax bill now pending in the Senate would increase the national debt by more than $1 trillion over the next ten years, even taking into account new economic growth sparked by the lower tax rates, according to a nonpartisan congressional analysis released on Thursday.

Thursday’s report from the Joint Committee on Taxation could introduce fresh uncertainty to the Senate deliberations just as Republicans appeared to be on the brink of passing their sweeping tax package.

The joint committee’s analysis estimated that the GOP bill would increase the nation’s gross domestic product by about .8 percent, increasing revenues by about $458 billion over ten years. But the bill would cost the treasury $1.5 trillion over ten years, so the new revenue would fall far short of covering that tab.

https://www.usatoday.com/story/news...t-new-congressional-analysis-shows/909409001/
Click to expand...
Non-partisan my ass. Just another bunch of lefties worried about letting citizens keep their own money.
 
O

OpposingDigit

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All this talk about debt is pure propaganda. America has no intention of paying it. It is impossible to pay this debt off. It is an unimaginary number. They will walk away from it all as the American Empire enters its final death spiral ..... Not only is there a debt of 20 trillion, but there are U.S. Federal Unfunded Liabilities which exceed $127 Trillion.

Another imaginary number is the price of gold. Unless you are buying physical gold, all the other sales are "Paper Gold". Imaginary gold. There is also the Hypothecation of gold.
 
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petros

petros

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Was this taken into consideration?

The International Energy Agency made headlines Monday when it declared in its World Energy Outlook 2017 that the U.S. could be a net exporter of oil within a decade. The IEA also projected that the U.S. is set to become the world’s dominant oil and gas production leader for decades.
 
Cannuck

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petros said:
Was this taken into consideration?

The International Energy Agency made headlines Monday when it declared in its World Energy Outlook 2017 that the U.S. could be a net exporter of oil within a decade. The IEA also projected that the U.S. is set to become the world’s dominant oil and gas production leader for decades.
Click to expand...

Yes.
 
pgs

pgs

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How much would be added to the federal debt without implementing the tax changes ?
 
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