Sunday, February 4, 2018

The U.S. Government Is Set To Borrow Nearly $1 Trillion This Year, An 84 Percent Jump From Last Year

Mod: The GOP likes to claim it is the party of fiscal responsibility, and that without them the country would sink into financial ruin. Apparently nothing could be farther from the truth.

The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year (MSN.com link): It was another crazy news week, so it's understandable if you missed a small but important announcement from the Treasury Department: 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.

Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law.

The uptick in borrowing is yet another complication in the heated debates in Congress over whether to spend more money on infrastructure, the military, disaster relief and other domestic programs. The deficit is already up significantly, even before Congress allots more money to any of these areas.

“We're addicted to debt,” says Marc Goldwein, senior policy director at Committee for a Responsible Federal Budget. He blames both parties for the situation.

What's particularly jarring is this is the first time borrowing has jumped this much (as a share of GDP) in a non-recession time since Ronald Reagan was president, says Ernie Tedeschi, a former senior adviser to the U.S. Treasury who is now head of fiscal analysis at Evercore ISI. Under Reagan, borrowing spiked because of a buildup in the military, something Trump is advocating again.


Paul Ryan deletes tweet about tax cuts after Twitter backlash (CNN link): House Speaker Paul Ryan deleted a tweet Saturday touting the GOP tax overhaul after critics called him out for appearing out of touch with the reality of low-income individuals' financial situations.

The tweet shared the story of a secretary who, according to a report by the Associated Press, was pleasantly surprised her pay went up $1.50 a week. "A secretary at a public high school in Lancaster, PA, said she was pleasantly surprised her pay went up $1.50 a week ... she said [that] will more than cover her Costco membership for the year," Ryan tweeted with a link to the full article.

Jon Favreau, a former Obama staffer, tweeted: "As a thank you for passing a $1 trillion corporate tax cut, Paul Ryan received $500,000 in campaign contributions from the Koch brothers, which would probably cover the cost of buying a Costco."

"Remember, if you don't think benefits like an extra $1.50 a week and free Hostess snacks are good enough, you're the one who's out of touch," he added.

Rep. Keith Ellison, D-Minnesota, also tweeted a link to the since-deleted Ryan tweet, writing: "Wells Fargo, fresh off of defrauding millions of Americans, gets $3.4 billion."

California Lt. Gov. Gavin Newsom tweeted with a screen shot of Ryan's tweet: "Guess someone told Paul Ryan you shouldn't go around praising yourself for giving a working person an extra $1.50 a week — because he deleted this tweet."

Mod: So where are you going to spend your buck fifty?

Nunes could face obstruction charges: Expert says colluding with White House nullifies congressional immunity (Raw Story link): Former White House ethics counsel Norm Eisen warned on Wednesday that House Intelligence Committee Chairman Devin Nunes (R-CA) may have opened himself up to obstruction of justice charges if he colluded with the White House to create a memo smearing the FBI’s Russia investigation. The Daily Beast reported this week that Nunes has refused to deny that he worked with White House staffers while writing an allegedly misleading memo suggesting that the Justice Department acted improperly when it extended surveillance of former Trump campaign staffer Carter Page, who was thought to be a foreign agent.

“Whoa,” Eisen wrote on Wednesday. “Nunes’s speech and debate clause Congressional immunity may not protect him from liability for conduct outside Congress.”

He added: “Depending on the facts, Nunes may have put himself in middle of a conspiracy to obstruct justice. He better beware: There are no secrets in this White House.”

Just for Men


sierramadretattler.blogspot.com

38 comments:

  1. Lol, the Dems got nothing, just like they gave nothing but the largest deficits in this country's history.
    Senator Ellison (D) Minn. again proves how out of touch Dems are in the Senate. Apparently no one told him he should read the financial memo on what was done to Wells Fargo Banking, due to unethical practices in the industry.
    Lt.Gov.Newsom; well just thank him for one of the country's leading taxed state and we still can't repair our roads.
    That buck fifty looks pretty darn good to a working stiff, all but makes up for the highest price gasoline in the country that Jerry Brown made into law. I didn't vote for that to happen, did you?
    Yeah, the Dems got nothing, still adding up the expenses of the Obama years.

    ReplyDelete
    Replies
    1. I guess the whole "Trump just increased the debt by $1 trillion dollars in his first year in office" just flew right over this Tea Monkey's little pointy head.

      Delete
    2. Dear idiot- the president doesn’t pass the budget- congress does. Congress was Republican held during Obama’s entire term. Congress is two bloc a controlled now. Hence this article.

      Delete
    3. Dear Fool - He signed it. Stop lying.

      Delete
    4. " Congress is two bloc a controlled now."

      How's things in Leningrad?

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    5. Trump signed it too. Fool

      Congress sets the budget

      All republican for almost 20 years

      Obama bailed out the royal Bush F’up

      Delete
  2. Looks like somebody just quit Team RussiaFebruary 4, 2018 at 6:53 AM

    Gowdy: Nunes memo does not discredit Mueller probe in any way
    http://thehill.com/homenews/house/372054-gowdy-nunes-demo-does-not-discredit-mueller-probe-in-any-way

    ReplyDelete
    Replies
    1. Too late to save him from obstruction charge/disbarment if he was involved.

      Delete
  3. Quick remove any and all elected republicans from office other wise America will fast become a debtor nation thanks to Treasonist Republicans in 2018.

    ReplyDelete
  4. Team Russia is inside our government and they are destroying everything they can get their crooked hands on.

    ReplyDelete
  5. TX officials allegedly engaged in bribes & kickbacks to make millions building Trump's border wall
    http://www.businessinsider.com/texas-official-allegedly-took-bribe-when-hiring-border-wall-contractor-2018-2

    ReplyDelete
  6. There is a day coming, and it's not too far off, when the Grand Jury investigating the Russian conspiracy hands down multiple indictments. They will include people very, very close to Trump. Donald Jr., Jerrod Kushner, members of his cabinet, some unknown names connected with Cambridge Analytical, Hope Hicks, maybe Spicer, lower level personnel and ancillary actors on the periphery of either the campaign or the administration. But the biggest news of all, on that day, will be the unindicted co-conspirator, President* Donald J. Trump. Mueller (and team) will lay out a multiple page evidence evaluation on Trump, just as he was an indicted person, and then conclude, that for his position as a sitting President*, he is named as an unindicted co-conspirator. If the time line continues to follow Watergate's, expect that to happen between March and June of this year.

    Nixon was publicly announced as an unindicted co-conspirator on June 6, 1974, but the action was handed down and sealed in March of that year. Nixon was forced to resign in August.

    http://www.nytimes.com/1974/06/07/archives/jury-named-nixon-a-coconspirator-but-didnt-indict-st-clair-confirms.html

    If you think things are crazy now, just wait for that day.

    ReplyDelete
  7. 7:53am. Umm, you will be waiting an awfully long time. The Fusion GPS memo has made it completely transparent that there is NO RUSSION ANYTHING!
    Thank your hero Steele, he made everything up. There is no basis for any further investigation.
    Muller's team is investigating smoke up their butts; thank Hillary and the DNC.
    The "investigation" will wind down and close; nice pay day for Muller's team, working off of LIES.
    Why not try some borscht comrade, chill out!

    ReplyDelete
    Replies
    1. Sure. Just like the Nunes memo was going to reveal everything. You got your ass on backwards, boy.

      Delete
    2. It's money laundering. That's what the #Dossier really highlights and that's what #Trump and the #GOP are really going after. They are both awash in money Putin has stolen from the Russian people and are desperately trying to run cover for it. #MuellerIsComing

      Delete
    3. Monica Lewinsky has nothing on Devin Nunes.

      Delete
  8. Trending on line: #Boycott the Game. No support for the NFL Game today, players from both teams have taken a knee.

    ReplyDelete
    Replies
    1. Obviously you have taken both knees.

      Delete
    2. Watching these strong men guarantee themselves a good chance at early dementia is not that entertaining, when considering the consequences.

      Delete
    3. Let's celebrate dementia by watching the game, and admiring the players while their brains still work.

      Delete
    4. We’re standing in your living room saluting?

      idiot

      Delete
  9. I think the worst thing that has happened with the ascendency of this realty show realtor is the bitterness and anger that has been unleashed in the public realm of discourse, and the undermining of faith in every good thing about America.
    Tough times.

    ReplyDelete
  10. 10:37am. Thanks for the humorous posting!

    ReplyDelete
    Replies
    1. No problem. I'm sure you'll be laughing twice as hard when they drag Big Orange off to Club Fed.

      Delete
  11. Once the federal indictments start rolling out for obstruction and lying on reports re foreign contacts, Trump will pardon the lot and claim to pardon himself.

    Then the state money laundering indictments will issue and our national combover nightmare will be drawing to a conclusion.

    ReplyDelete
  12. 10:31 Who is bitter? Would you describe the Allies as bitter toward the Axis powers? Of course not. They knew that fascism had to be destroyed. No different today. You're either against fascists or you're with them. There's no fence sitting when dealing with fascists.

    ReplyDelete
    Replies
    1. Might be difficult to agree on just who are the fascists here and now. Easy call in WWII.

      Delete
    2. Actually, it's very easy: Putin, his useful idiot Trump, and their supporters.

      The fact that most of those supporters are too ignorant to recognize how easily they, through the cult of personality, have undergone fascization make them particularly dangerous.

      Delete
    3. There may be some difficulty in establishing just who the fascists are.

      Delete
    4. Why? Did somebody break your mirror?

      Delete
    5. What's difficult to understand about Putin, useful idiot Trump, and their supporters? If you're confused about the latter, start with Hannity, Foxnews, and those wearing maga hats.

      Delete
  13. I posted this late yesterday. For those who missed it, the Nadler memo is a must read:

    Rep Jerry Nadler, ranking member of the Judiciary Committee, has seen the materials underlying the Nunes memo, which he calls "deliberately misleading." [Nadler memo released Saturday:]

    http://msnbcmedia.msn.com/i/TODAY/z_Creative/inline-headers/FINAL%20DRAFT%20--%20Dear%20Colleague%20on%20Nunes%20Memo.pdf

    ReplyDelete
  14. House Intel Republicans Reject Trump’s Claim That Nunes Memo ‘Vindicates’ Him:

    https://talkingpointsmemo.com/livewire/house-intel-republicans-reject-trumps-claim-that-nunes-memo-vindicates-him

    ReplyDelete
  15. 1 In 4 Americans Thinks The Sun Goes Around The Earth, Survey Says - A quarter of Americans surveyed could not correctly answer that the Earth revolves around the sun and not the other way around, according to a report out Friday from the National Science Foundation.

    https://www.npr.org/sections/thetwo-way/2014/02/14/277058739/1-in-4-americans-think-the-sun-goes-around-the-earth-survey-says

    ReplyDelete
  16. Has Trump taken credit for the sixth largest daily point loss on the Dow yet, or the worst week on the Dow in two years? How about doubling the deficit from $500 billion to nearly $1 trillion? I don't think so.

    ReplyDelete
  17. Fun fact: Robert Mueller has personally destroyed:

    •The Enron corporation
    •The Gambino crime family
    •The Gotti crime family

    Soon to come:
    • The Trump family

    ReplyDelete
  18. Big government taking and wasting more money, just like how Obama added trillions to the debt, and now its at 20 trillion thanks to Bush and Obama and now President Trump will have to hopefully figure this out. We need to Cut spending across the board. Maga.

    ReplyDelete