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warren
spasmcreek
Member Posts: 37,724 ✭✭✭
Lie-a-Watha warren says the economy is NOT working for the average American......F- her.....ANY economy now is working BETTER for AMERICANS before all her tax increase proposals would go into effect if she were elected......all the demoncrat candidates have so many tax proposals that i believe the ordinary middle class American worker would damn near be bankrupted........voters need to get wide awake
Comments
1. I know it is somewhat rare today but what about the few people who have and actually stick to a budget? All of these tax increases sure will screw up these peoples future plans, like retirement, home purchase, family vacations etc...
2. With the increase in taxes will the government stick to their budget? They sure don't now and who thinks they will do any better with more of your money to fritter away? When they go in the hole the only answer will be, you guessed it, even more taxes.
Just put me down in the skeptical and wary category. Bob
I know people like that and don't understand why they CANNOT tell the truth.
But the game is changing for our reserve petrol dollar with all it's power to manipulate others and many nations are dumping the dollar as our total debt grows exorbitant and exponential to the point where our military might will not be enough to swag our authority to force others to buy our fiat currency to do business deals.
Elizabeth Warren is just playing her tune for all the lemmings to gather for their own demise just like all the side listening to Trump and his spill
on how to give his backers freebies too.
serf
https://www.pgpf.org/the-fiscal-and-economic-challenge/fiscal-and-economic-impact
As the federal debt mounts, the government will spend more of its budget on interest costs, increasingly crowding out public investments. Over the next 10 years, the Congressional Budget Office (CBO) estimates that interest costs will total $5.8 trillion under current law. Currently, the U.S. spends more than $1 billion per day on interest payments.
Taxes: By the end of the 10-year budget window, tax revenues will amount to 18.2 percent of gross domestic product (GDP). Tax revenues will average 17.3 percent of GDP over the next 10 years, which is slightly below CBO?s previous projected 10-year average of 17.5 percent projected in CBO?s May update, and the 17.4 percent historical average. It is important to note that significant elements of the Tax Cuts and Jobs Act sunset in 2025, helping to drive up revenue as a share of the economy in the budget window?s last 4 years.
Spending: CBO estimates that, by the end of the budget window, overall spending will total 22.7 percent of GDP, and average 22.1 percent over the 2020-2029 period. In nominal terms, federal spending will total $57.8 trillion over this period. The topline spending number is remarkably unchanged from CBO?s previous forecast, which belies the $1.7 trillion increase in projected discretionary spending and the $1.1 trillion decrease in projected net interest costs. Total entitlement, or mandatory, spending will continue to grow as a share of the federal budget, comprising 64 percent of federal expenditures in 2029, up from 61 percent in 2019 and 29 percent in 1969.
Deficits: Projected budget deficits will grow substantially over the budget window, reaching over $1 trillion in 2020 at a time when CBO forecasts unemployment of 3.7 percent. For context, the last time the deficit exceeded $1 trillion was in 2012, when unemployment was 8.2 percent for the year ? more than twice the rate forecast for 2022.
Interest Payments: Interest payments on the debt will reach $807 billion in 2029. This figure reflects a more than doubling of debt service costs of $325 billion in FY2018. Despite the increase over time, this projection reflects a substantial downward revision from CBO?s May projection, owing to a reduction in CBO?s interest rate forecast. While the downward revision in interest costs is good news for the budget, the magnitude of the revision belies the budget risk from interest rate fluctuations.
Debt Held by the Public: Borrowing from the public is projected to increase as a share of the economy under current law, reaching 95.1 percent of GDP in 2029. Only in 1945 and 1946 was the debt held by the public higher.
I am praying that there is a sweep in the house come NEXT November. Wish it was this one. Liberals, true ones have gone off the deep end, seriously.