The most dangerous domestic problem facing America’s federal government is the rapid growth of its budget deficit and national debt.
According to the Congressional Budget Office, the deficit this year will be $900 billion, more than 4% of gross domestic product. It will surpass $1 trillion in 2022. The federal debt is now 78% of GDP. By 2028, it is projected to be nearly 100% of GDP and still rising. All this will have very serious economic consequences, and the CBO understates the problem. It has to base its projections...
Source: Loan Digest (loandigest.net)
Opinion: The most dangerous domestic problem facing America’s federal government is the rapid growth of its budget deficit and national debt, writes Martin Feldstein via RollBack + EconomicCollapse & IrreversibleDecline
I’d argue that it’s the moron in the White House, the cause of the exploding deficit.
Increase taxes or run a government surplus by cutting welfare programs (most likely). This is a product of Reagan’s(1981-1989) trickle down economics which deregulated financial institutions, deunionized the labor force and slashed taxes.
Or...the most dangerous domestic problem facing America's government may be fake News published by American Media, individuals in our government working with that Media, trying to unseat Trump for the last few yrs rather than actually trying to make the Country better 4 Americans
As always gop is going to screw things up then Dems take over a tanking economy..just in time for Repubs to come in with blame and to take credit for the turnaround. How many cycles of this Republican con must be repeated?
Hey!! What about this?
Same author, 18 months ago...
Chutzpah!
Thank you democrats Who under Obama doubled the deficit and stifled economic growth
It's here......money has no value....
Thank you Republicans, especially Paul Ryan, for pushing the worst budget in American history during a time of economic growth.
BarackObama & His dramatic rise of public debt's has removed any space for succeeders. A giant redistribution from average Americans to His donorclass friends. Ugly truth: Future generations can't & won't repay public debts - Not only in America. Ponzischeme
Well let's cut some federal funded programs. Since of these welfare are being given to able body people who only lives to milk the system. Let's stop arresting people for petty crimes. Let's investing in investigations that leads nowhere. It's a start
All around the Globe Read this carefully
maggieNYT No shit, Sherlock!
they said rapid
maggieNYT who cares about that now? Trump is president, he's doing great. We'll sound the alarm bells when a Democrat is in the WH.
TJSeraphim The US basically forced the Soviet Union into bankruptcy / dissolution in 1991 and now Putin and his complicit puppets (trump, McConnell, graham) are bankrupting the US and raising the potential for dissolution of our once great nation.
For all the tax the rich folks I get it, but here’s a thought:
maggieNYT Thank you, .realDonaldTrump GOP FuckTheGOP
maggieNYT Where was that song before the Trump Tax debacle
maggieNYT You can thank Trump and the republicans for that. realDonaldTrump
maggieNYT WHAT!!! Tax reform first and foremost.
The US must reduce the cost of the army and the war
maggieNYT social Security funds itself it does not contribute even a dollar to the deficit it's a lie the right propaganda machine like to spew out
who could have predicted.
maggieNYT If only something could be done about the deficit. Repeal the GOPTaxScam .
All brought to you by Paul Ryan
Just like clockwork. Republicans give a big tax cut to the ultra-rich. The government brings in less money. Republicans spend vast amounts of money on weapons. The deficit grows. And WSJ editors sadly shake their heads and say that the poor and elderly are the ones to blame.
We can tariff China all day long but they own are debt
maggieNYT Are we talking gold or paper money, I bet we don’t have a lot of gold, just a gut feeling
Brought to you by fiscal hawk Paul Ryan.
The most dangerous domestic problem is the existence of the Fed, a private corporation leeching off the work of our country while insinuating itself as if part of the government.
America's been bankrupt for years and the Fed just keeps on printing money. No one cares..... Racing blindfolded off a cliff.
maggieNYT How absolutely predictable and laughable
maggieNYT Typical right wing pablum Cut taxes so wealthy have more Cut 'entitlements' so middle and lower class get less Dont cut precious defense spending Bullshit
data about what difficulties people face can be scared, beyond a few words.
maggieNYT We all wait patiently for a tax cut to pay for itself.
Yea where were these concerns during the straight up deficits under Obama?
Breaking news, about 8 years ago...
maggieNYT Why has the deficit increased so much after the tax cut that you advocated?
maggieNYT Shock doctrine again? NaomiAKlein
I have said before the NATIONAL DEBT is THE GREATEST THREAT this country faces bar none. If the President does not get a handle on it he will fail as President.
Funny how the well-to-do businessmen and pundits and think-tankers who are always crowing about the deficit tend to demand sacrifices from everybody but themselves. I guess sacrificing is something only the little people are supposed to do.
maggieNYT 'The most dangerous domestic problem facing America’s federal government' is this fool:
What will our dear leader do?declare bankruptcy?
maggieNYT It’s all part of the master plan: slashing entitlement programs!
Yes get off Trump and start dealing with real issues like the debt etc.
Things Trump and the GOPer’s dare doing on their OWN....
maggieNYT Like clockwork, Republicans slash taxes by a trillion dollars then suddenly discover that we can't afford basic healthcare and social security, which is somehow affordable for most other developed nations on Earth. Get cancer, Martin Feldstein.
maggieNYT
ЦБ США должен быть гос собственностью /в юрисдикции США.Если все страны также будут обламывать ФРС /это будет хорошо.
maggieNYT Lol
Yes . We need to get our house in order. Wake up America!
maggieNYT Yeah this is how Repubs try to do it, but it always fails, hey don't have the nerve. They slash taxes and then try to use fear about the debt to cut social programs. But we love these programs, so they can't do it. This is why debt balloons under Repubs and Dems have to fix it.
You call it defence spending , that's rubbish, take your military bases out of the 100 odd countries your in and stop bombing countries for political gain , instead put the money into health and education for your own kids.
Then let the government eliminate health care and retirement packages for life for all politicians, a reasonable severance like SOME lucky Americans should suffice. Orrrrrr, give all Americans the exact same benefits! Tax the top 5% a hefty Greed tax.
TheDemocrats GOP HouseBudgetDems Any policy designed specifically to assist illegal immigrants, is fraud and abuse of Tax Dollars...STOP NOW..
And the bankruptcy chief is in charge?
75% of Americans ,me included, wish they made enough to be considered middle-class.
maggieNYT Didn't see a lot of these takes from the WSJ when the tax bill was being debated...
No problem just lower the taxes of the richest among us and wait for that sweet trickle to drown us in milk and honey.
maggieNYT Cut gov’t spending by 99%
Lies! America has money
Good luck with that.
They were praising Obama & Bush for 'deficit spending' not too long ago.
🤔 seems to me Republicans caused that problem with tax breaks for corporations.
realDonaldTrump better reel in the spending and cut some pork. The only thing he can stand on for 2020 is no collusion! So, basically, he still hasn’t done s&t. Oh wait, he gave college kids free speech! Hasn’t built a wall and hasn’t done anything for the middle class at home.
Screw the Rothschilds think we should file bankruptcy
maggieNYT The climate debt we’re leaving our children is greater
They're all too old to care. Just another Socialist Union living off the slavs.
Now you’re worried. The champions of a ridiculous tax cut that delivered sluggish growth and record deficits.
Must be a Democratic house of reps...the WSJ and all Repubs are starting to talk about the deficit. Not very important 6 months ago with two years of Repub house and senate and pres. The symbol of the republican party should be a 'drunken sailor' as that's how they spend!
It’s ya boy Trump and your beloved tax cuts
maggieNYT If the federal government can print bonds why can’t it print fiat money instead of “borrowing” it from a private bank. Government for the elite bankers, by the elite bankers.
maggieNYT That is what happens when you reduce income. With tax cuts both sides keep promising infrastructure repair?
The GOP just cut taxes on the wealthiest Americans and corporations at historic levels, and you posit that we need to reduce entitlement spending In other words, the middle class and the poor must pay for the most recent tax cut. Thanks, assholes.
We’ll have to have a “Greek haircut.”
maggieNYT The debt crisis is coming from the federal government but will be private debt carried by citizens. The Fed can print money, citizens can't. When citizens can't borrow for consumption or pay back what's owed the economy is in trouble
maggieNYT No it’s not, b/c Trump slashed the deficit. Didn’t he? Said he would...
...ну стараются же...
How predictable. Not saying the debt isn't a problem. It is. But saying it now after the tax cut that racked up $2 trillion in new debt is like drilling holes in the bottom of the boat and then saying, 'We're going to sink unless some of you(not me, though) jump into the water.'
maggieNYT S. C. A. R. Y.
maggieNYT One proverbial feather in the Republican party’s hat was being fiscally conservative. With Trump, that’s gone.
If Rupert Murdoch paid his taxes we wouldn't have a deficit
maggieNYT This article gets written any time the Dems are in charge of anything. No one on the WSJ board cared during the GOP tax scam which blew the deficit out of the water, no reason we should take them seriously now.
Yeah, time to look out for what’s important to the people...close loopholes, reduce corporate welfare, and reduce spending by finding efficiencies.
maggieNYT Wow who could have possibly seen this coming? (Everyone, literally everyone except that shill Trump is trying to get on the get on the FRB Board of Governors)
maggieNYT I've been hearing dramatic tales of our doom, based on the deficit, my entire adult life. Only after Trump was elected, a man who is incompetent and unstable, especially of the world stage, do I fear a sitting president. Deficit..not impending. Trump..impending !!!!
maggieNYT And this is GOP controlled white house, GOp controlled senate and till recently GOP controlled congress. Guess what, GOP does this every time. Handover shit to a dem president and by the time he cleans up, claim dems are not for growth.
maggieNYT Admit it. This is the same garbage article that you’ve run 50 times. Every few months somebody just dusts it off, changes a few words, and you re-print.
maggieNYT During an expanding economy when we should have been focusing on Debt reduction The Trump Administration will cost the middle class of the American people Trillions in interest that we handed to rich people.
Tax the wealthy, tax their estates, tax their wealth, tax their marginal income (and Capital Gains) over 10 million at 70%. Tax Carbon Emissions, Tax Corporate profits. Get back the money Oligarchs have been skipping out on for decades, because they dictated the tax code.
Isn't it due to certain factors in policies and implementation?
Sigh, agree, and it’s been looming. Yet we do nothing but exacerbate it.
maggieNYT But but but... Tax cuts pay for themselves! It says so right here in my Dummy's Guide to Bullshit Economic Theories.
Still giving Israel billions. And their economy is booming and average salaries are up. While Americans sleep rough...
maggieNYT Oh, Maggie. Don't buy this howling from a largely ignored man. It is utter rubbish and not worthy of your retweet.
maggieNYT This is why the Journal opposed the Trump tax cut so strenuously as I recall.
Nope it’s the Democratic Party
'reduce future entitlement spending', as it was foretold. That's been the plan all along.
Don’t worry, Democrats will tax you
I might throw income inequality, police violence against minorities, and the rise of white supremacist hate groups at the head of the line. But yeah, I feel you.
To hell with reducing entitlement spending. Tax the uber rich and corporations like they should be taxed, ala the 50's and 60's so they pay their fair share. End war as a solution to everything. The middle class is getting screwed.
Is this opinion biased against all the good work Trump tells the world he has done? Making America Great again? Trillions of deals booked? 🤣
Hmm we have their goods and services they have our promise to pay. Ahhh well
Yep. The federal government's budget deficit is a problem to the Wall Street Journal AFTER the wealthy got their huge tax cut at the expense of middle-class taxpayers..
Wait., are you saying more massive tax cuts for the rich won't get the job done?
End the fed and take our gold back from the shareholders POTUS
maggieNYT After Donald tRump realDonaldTrump
Clearly. Our Lords and Elites seem to think not.
If that was paired with a growing economy it wouldn't really be a problem at all. But the debt is over 100% of GDP and growing each year which is the real problem. If this doesn't stop we're going to be chilling with Portugal, Italy, Greece, and Spain...
Including college debt time bomb garyvee wise on this.
Right on cue. To push for cutting health care, etc.
Lol Nobody in government cares
maggieNYT The most dangerous problem facing America is Trump and the Kushners.
Brought to us all by Conservative Republicans and supported by their boot licking WSJ.
imagine my surprise
maggieNYT WRONG
Yes. That’s why they need to raise the shit out of taxes on the rich.
And the older generations don’t care because it doesn’t affect their bottom lines. Unfortunate.
Moral of the story: don't borrow money if you can't pay it back...especially if you don't know what you're paying for!
...but, you know, millennials and their profligate spending, amirite or amirite.
No we need to stop spending money on the industrial war machine. Entitlement spending goes BACK INTO THE ECONOMY ASSHOLES
And no one seems to care...
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