True tax cut just increased US borrowing 84% for 2018
 

So now we get to see the truth behind the tax cuts. The federal govt will have to borrow $1 trillion dollars to stay open for the 20018 year. The reason? Loss of tax revenue due to the tax cuts..

This will be a 84% increase in borrowing vs 2017...


Thanks Robbie.


The federal government is on track to borrow nearly $1 trillion this fiscal year ? Trump's first full year in charge of the budget.

That's almost double what the government borrowed in fiscal year 2017.

Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year


https://www.washingtonpost.com/news/...=.b0d24208e474


Once again, Trump undoes Obama's legacy.. Obama had 6 straight years of reducing the borrowing.. Trump's 1st year in control of the budget he increases borrowing by 84%..

I'm going to borrow more, reduce my income, and look for a higher interest rate.

Its my plan to make Baldy great again! and is certain to work because all the billionaires are doing it.

And the cool thing is no one will realise how much I reduced my income this year, because I brought in some cash I had stashed in offshore accounts that I can add to my bottom line.

Tis a master plan!!!

hoping this will get good result....

if only there had been a clue that this would happen!!! :1orglaugh:1orglaugh:1orglaugh:1orglaugh

But it will trickle down...


(As Paul Ryan pointed out: his secretary now has $1.50 more in her pocket per week)

Hopefully she doesn't have a mortgage or a loan of any sorts including credit cards.

Markets down again and this is only on a rumour of an increase, wait till they actually start happening

didn't Obama borrow way more than Bush? at some point we should probably stop blaming the administration

Umm fuck no, this is 100% because of the tax cut. There is no blame Obama or what about Hillary. This is less tax revenue due to tax cuts causing us to borrow 84% more than last year...

This trend began with President Reagan and has spiraled into what it has now become. The Donald has made it worse.

Just wait until we start adding the wall to the mix ?

Obama was paying off Bushes wars and got the USA through one of the biggest recessions ever, that took a big chunk of money the USA did not have, and being a liberal he also handed out more than he should of which just added to the bill.

But Government's aside look at personal and company debts, and they have never been higher. The policies Trump has implemented are guaranteed to raise interest rates, how much is yet to be seen but the process is certainly expedited, at the same time he's reduced banking and lending regulations, where other countries have been tightening them. Its a fucking big gamble, and I hope it pays off, I wouldn't risk that fiscal policy on my own family, let alone on the welfare of a country its not a business you can close and wash your hands of.. but its being treated as such.

Chump will do what he does best, bankrupt the country and walk away.

obama had no issue extending bush era tax cuts..

Obama signs bill to extend Bush-era tax cuts for two more years

sometimes it's curious how quickly the collective forgets this stuff