Deficit is already 640 billion

Posted on: September 21, 2017 at 16:40:27 CT

With one month to go in the fiscal year, the projected deficit for this year is around 640 billion.

Senate just added $70 billion to defense. They will be lucky to get even $70 billion on other spending cuts through congress, especially with hurricane relief needed in 2018.

Will the conservatives really agree to adding $200 billion to the deficit? I know, you say, they will just lie about how growth will magically make the whole thing deficit neutral, but no matter how politically useful the lie is, it is still just a bunch of malarkey.

Corporate income taxes bring in $300 billion a year. If they slash rates a conservative estimate is a $100 billion reduction. That is before you get to the personal income taxes.

We are at 4.4 percent unemployment now, facing demographic problems that will reduce growth and increase spending.

A large fiscal stimulus at this time looks to be a real mistake.

Edited by Knucklehead at 16:41:41 on 09/21/17