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pokebball

These next 45 days

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The House has passed over 100 bills that have been sent to the Senate for consideration.  The Senate should make all of these a priority and pass as many as they can, perhaps all of them.  And get them to Trump for signature.

The House and Senate should perhaps consider another corporate tax cut and get it passed before the Dems take control of the House.  It's important for the GOP that the economy keeps humming these next two years.

Edit =>  Get all of Trump's judges confirmed

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Just now, pokebball said:

The House has passed over 100 bills that have been sent to the Senate for consideration.  The Senate should make all of these a priority and pass as many as they can, perhaps all of them.  And get them to Trump for signature.

The House and Senate should perhaps consider another corporate tax cut and get it passed before the Dems take control of the House.  It's important for the GOP that the economy keeps humming these next two years.

Deficit be damned?

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If those things were important Republicans would have kept the house by #winning.   Dontchathink?

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1 minute ago, pokebball said:

The House has passed over 100 bills that have been sent to the Senate for consideration.  The Senate should make all of these a priority and pass as many as they can, perhaps all of them.  And get them to Trump for signature.

The House and Senate should perhaps consider another corporate tax cut and get it passed before the Dems take control of the House.  It's important for the GOP that the economy keeps humming these next two years.

Uh, you don't think that additional tax cuts are eating your seed corn?

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2 minutes ago, pokebball said:

The House has passed over 100 bills that have been sent to the Senate for consideration.  The Senate should make all of these a priority and pass as many as they can, perhaps all of them.  And get them to Trump for signature.

The House and Senate should perhaps consider another corporate tax cut and get it passed before the Dems take control of the House.  It's important for the GOP that the economy keeps humming these next two years.

What about elections having consequences? The American people have spoken... right? 

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3 minutes ago, retrofade said:

What about elections having consequences? The American people have spoken... right? 

2/3rds belong to the Repubs and you and I both know stalemate comes in Jan.

The American people didn't flip the Senate

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3 minutes ago, happycamper said:

Uh, you don't think that additional tax cuts are eating your seed corn?

The brakes that get pulled in Jan will be worse

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41 minutes ago, SharkTanked said:

Deficit be damned?

Debt only is a concern if a democrat is in the White House - It's the GOP way to fool people into thinking republicans are fiscally conservative 

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2 hours ago, UNLV2001 said:

Debt only is a concern if a democrat is in the White House - It's the GOP way to fool people into thinking republicans are fiscally conservative 

But that's the problem. Nobody is concerned about it.

Now there is no party of fiscal accountability. But it's cool yo. We got judges and justices. Now we can break out another credit card to build a wall somewhere.

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3 hours ago, retrofade said:

What about elections having consequences? The American people have spoken... right? 

They spoke loudly by giving Trump some extra senate votes.

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51 minutes ago, pokebball said:

And judges.  Get all of Trumps judges confirmed.  

????

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24 minutes ago, SharkTanked said:

But that's the problem. Nobody is concerned about it.

Now there is no party of fiscal accountability. But it's cool yo. We got judges and justices. Now we can break out another credit card to build a wall somewhere.

Nothing can be done about it, it is a spending problem.

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6 minutes ago, happycamper said:

????

Good question.  This doesn't have to happen before Jan but needs to happen on a quick pace.  Will be important these next two years.

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18 minutes ago, SharkTanked said:

But that's the problem. Nobody is concerned about it.

Now there is no party of fiscal accountability. But it's cool yo. We got judges and justices. Now we can break out another credit card to build a wall somewhere.

National debt is an American tradition going back to 1787 when the US Constitution was finally ratified - US was in debt from day one coming out of the Revolutionary War and it's been there ever since, with the exception of a few years somewhere between 1830 to 1850 (I think)....then the Civil Ward and the debt was ensconced 

But the fallacy that "republicans are fiscally conservative" is a myth - they drive up debt just like most presidents do - Below is a decent list of why, hows and reasons for various debt increases 

National Debt by President

The United States has carried debt ever since George Washington was president.

Just as American citizens get in debt at a young age, so has the country taken on debt even since its youth.

You take on student debt to gain higher education to increase future income.

The United States took on debt to promote economic growth.

As we earn more money, we spend more money.

As the US economy grew, the government likewise had to support its growth by spending more money.

Only Presidents Andrew Jackson, Martin Van Buren, John Tyler, and Franklin Pierce left office with the debt at 1% or less of GDP.

Since the start of World War I, the debt has generally trended upward.

Debt doubled under Herbert Hoover and tripled as Franklin Delano Roosevelt ushered the country into World War II.

In percentage terms, Roosevelt increased the national debt more than any other president.

He added $236 billion, increasing the debt by over 1,000%.

Debt as a percentage of GDP fell after World War II and hovered around 30% in the late 1970's and early 1980's.

It started rising again under Ronald Reagan.

Ronald Reagan

Tax cuts ballooned the debt

By every measure, debt increased substantially under Ronald Reagan.

His budgets increased the debt by $1.8 trillion (based on fiscal year).

September 30, 1981: $997.8 billion

September 30, 1989: $2.857 trillion

This includes the $1.4 trillion deficit.

The debt-to-GDP ratio also increased.

In the first quarter of 1981, debt was 30% of GDP.

When Reagan left office, it was 49% of GDP.

Several factors contributed to the rise in the national debt under Reagan.

Reagan dealt with a severe recession. Set off by high-interest rates, it lasted from July 1981 to November 1982.

The unemployment rate was above 6% for most of his term, peaking at 10% in late 1982.

Reagan's tax cuts reduced government income. When Reagan took office, the top income tax rate was 70%.

He slashed it to 50% and then 28%.

Known as Reaganomics, these tax cuts tragically failed to stimulate enough economic growth to offset their huge cost to the nation's coffers.

Meanwhile, government spending grew. Congress increased the defense budget and expanded Medicare.

As a result, the deficit spiked to levels previously seen only in wartime.

The US national debt has never really recovered since.

George H.W. Bush

Funded the Gulf War

Wars are always costly.

That's how President George H.W. Bush racked up an impressive debt in just one term.

His budgets increased the debt by $1.58 trillion.

September 30, 1989: $2.857 trillion

September 30, 1992: $4.441 trillion

That includes $1.03 trillion in deficits.

The debt-to-GDP ratio rose from 49% to 62%.

Major events impacted Bush's spending.

George H.W. Bush responded to Iraq's invasion of Kuwait. This led to the Gulf War which led to a tremendous increase in America's military spending.

U.S. Military Spending

The economy faltered. He spent $125 billion to bail out the economy after the 1989 savings and loan crisis.

Then in 1991, a recession impacted tax revenue.

Bill Clinton

Raised taxes and cut spending

Among our nation's recent leaders, President Bill Clinton was the only one who did not run a deficit.

Thanks to new taxes and decreased military spending, he left office with a $36 billion surplus.

The overall debt still increased by $1.396 trillion, since Clinton tapped into the Social Security Trust fund.

September 30, 1993: $4.411 trillion

September 30, 2001: $5.807 trillion

Though the debt grew, it was a lower percentage of GDP, thanks to a booming economy.

The debt-to-GDP ratio decreased from 62% to 54%.

The rosy picture was due to good luck and Clinton's policies.

The economy boomed. During the 1990s, the GDP grew to over $10 trillion annually.

Clinton raised taxes. In the 1990's, the top marginal tax went up to 39.6%.

This move wasn't a popular one with those affected by the rate hike, but it did the nation good by increasing revenue.

Budget controls restrained spending. In response to high deficits and rising debt, Congress and the president instituted and upheld strict fiscal policies that contributed to the surplus.

He decreased military spending. Following the end of the Cold War, Clinton reduced the number of troops and ships around the world.

George W. Bush

Cut taxes and responded to 9/11

President George W. Bush lowered taxes his first year in office, decreasing revenue just as the government ramped up military spending in response to the 9/11 terrorist attacks.

During Bush's two terms, the public debt increased by $5.849 trillion.

September 30, 2001: $5.807 trillion

September 30, 2009: $11.909 trillion

The deficits totaled $3.293 trillion.

The debt-to-GDP ratio soared as well during the same period of time.

In 2001, the public debt was 54% of GDP; in 2009, it was already up to 77%.

The 9/11 terrorist attacks, two wars, a recession, and tax cuts all added up to a pretty hefty debt.

The dot-com bubble burst. From March to November 2001, the economy sank into recession.

Bush cut taxes in 2001 and 2003. He lowered the top tax rate to 35%, decreasing government revenue.

The War on Terror increased defense budgets. After September 11, military spending surged to more than $600 billion a year, with most of it used to fund the wars in Afghanistan and Iraq.

Bush also passed Medicare Part D to cover the cost of prescription drugs. This large entitlement expansion added billions to the debt.

In the long run, however, some analysts say that it has helped lower the price of prescription drugs and slowed down the cost of Medicare.

He approved the bailout in response to the 2008 financial crisis. The Troubled Asset Relief Program (TARP) added $700 billion to his last budget.

Barack Obama oversaw an increase in debt during the Great Recession

By any measure, Barack Obama added more to the public debt than any recent president.

The level of debt when the younger Bush left office was already grave.

Obama added another $8.335 trillion.

September 30, 2009: $11.909 trillion

September 30, 2017: $20.244 trillion

Deficits totaled $6.785 trillion.

The debt-to-GDP ratio also grew enormously, from 77% to 105%.

However, to be fair, it's important to note that these staggering figures were largely the result of policies and events out of Obama's control.

Obama dealt with the Great Recession. When he entered office, the stock market had cratered and businesses were shedding jobs.

In response, he and Congress passed the American Recovery and Reinvestment Act, an economic stimulus package that cost $787 billion.

The stimulus extended unemployment benefits, cut taxes, and funded job-creating projects.

The debt-to-GDP ratio would have risen even without government spending because American productivity in general was way down.

He extended the Bush tax cuts. To stimulate the economy, Obama kept tax cuts in place through 2012. This added $858 billion to the debt.

Federal income declined. As a result of the Recession, Americans earned less money and paid less in taxes. Government revenue was down.

Defense spending rose. In another continuation of Bush's policies, Obama had to fund two wars.

This cost around $800 billion a year.

Entitlement programs got more expensive. With an aging population, the cost of Medicare and Social Security also rose.

Obamacare is probably not to blame. The bipartisan Congressional Budget Office estimates that Obamacare (the Affordable Care Act) would reduce deficits by $154 billion over its first decade.

Forecast of Coverage Provisions Contained in the Affordable Care Act

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3 hours ago, UNLV2001 said:

Debt only is a concern if a democrat is in the White House - It's the GOP way to fool people into thinking republicans are fiscally conservative 

Dems have the House, let's see the budget!

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It is certain that the Republicans will go hog wild during the lame duck session.  Deals are being made with lame duck Representatives and Senators for big money jobs if they support certain legislation.  Lame duck sessions are the silly season.

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2 minutes ago, pokebball said:

Dems have the House, let's see the budget!

Could cut some billions by not funding the orange clowns wall - Unless he's still thinking Mexico will pay for it 

 

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Just now, UNLV2001 said:

Could cut some billions by not funding the orange clowns wall - Unless he's still thinking Mexico will pay for it 

 

I don't think the wall ever got budgeted, did it?  The deficit doesn't even include it.

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