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Run up a trillion dollars in debt? especially in a time when the economy didn t need stimulus. now we re about to go into the economy that does need stimulus and we can t afford to do things like that. so it comes down to the question at this table this table has asked so many times before, who are we? we say who are we as a nation, but were you get to that you need to talk about the primaries or republicans will have to say to themselves early one morning, they have to look in the mirror and drink some coffee and say, is this who we are? who are we? michael steele, i want to put some numbers to what you and joe and walter have been talking about here. just yesterday the treasury department came out with the numbers through the first ten months of this year. $866.8 billion, that s up 27% from the same period last year. and has already surpassed the deficit for all of last year. which is $779 billion which is ....
Spending limits by $320 billion while suspending the debt ceiling until after the 2020 election. what does that mean? it means the profligate spending is protected. how convenient. federal discretionary spending is now growing faster than it was under the obama administration. when you combine huge spending and reduced tax revenue thanks to the trump tax cut, what do you get? a fat deficit approaching $1 trillion up from 779 billion last year. the national debt to mr. trump s then citizen trump s point? 22 trillion earlier this year up from 19 trillion when he took office. the tax cut will spark business. and if you just give it time those numbers will come back down. that s what they told you. that was fiction. here are the facts. for fiscal year 2018-19 individual tax revenues fell 2%. corporations down 22%. the corporate shortfall is more money than all taxes collected ....
Reduced tax revenue thanks to the tax cut. a fat deficit approaching $1 trillion up from 779 billion last year. the national debt to mr. trumps citizen trumps point. 22 trillion earlier this year up from 19 trillion. when he took office. the tax cut will spark business. and if you just give it time the numbers will come back down. that s what they told you that was fiction. fiscal year 2018 individual tax revenue fell 2%. corporations down 22%. the corporate shortfall is more money than all taxes collected from the rest of us. no, the tax cut didn t raise revenue and no, companies are not raising wages or lowering prices in a way that balances out the gift to them. i know this is thousand works. roll your eyes. don t do that. for the the talk about plan and ....
Went down. for the second year in a row, the u.s. treasury will have to borrow at least $1 trillion to pay for the growing budget deficit. why is the deficit growing? the government spends more than it takes in. it increased the deficit by $300 billion. the u.s. deficit rose 17% to $779 billion last year. the highest since 2012. the u.s. treasury is borrowing to make up that shortfall. the highest borrowing since 2010 and a sharp spike from the $546 billion it borrowed in 2017. don t forget, the u.s. is currently waging a trade war with china. china held $1.1 trillion u.s. treasury bonds. and according to pew research, just 48% of americans say cutting the deficit should be a top policy priority for the ....
All right. for the second year in a row, the u.s. treasury will have to borrow $1 trillion to pay for the growing budget deficit. why is the deficit growing? well, the government spends more than it takes in. a lot more. the u.s. deficit rose 17% to $779 billion in 2018, the highest level since 2012. so the u.s. treasury department is borrowing more to make up that short fall. the treasury borrowed $4.3 trillion. and a spike from the $546 billion it borrowed in 2016. the u.s. is currently waging a trade war with china. china held $1.4 trillion in ....