Drudge Retort: The Other Side of the News
Thursday, July 12, 2018

The U.S. budget deficit widened by 16 percent to $607 billion three-quarters of the way through Donald Trump's first full fiscal year as president, as spending accelerated faster than revenue.

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Tax cuts pay for themselves!

#1 | Posted by 726 at 2018-07-12 02:27 PM | Reply

"On the policy side of the ledger I've been quite pleased with Trump's first year."

Posted by JeffJ

#2 | Posted by ChiefTutMoses at 2018-07-12 04:16 PM | Reply | Funny: 1

Anyone who's surprised by this news, hasn't been paying attention.

(Which. Means all Trump support.)

I'm sure this will all be blamed on Obama, Democrats, and liberals.

#3 | Posted by ClownShack at 2018-07-12 05:31 PM | Reply | Newsworthy 2

Anyone who's surprised by this news, hasn't been paying attention.

#3 | POSTED BY CLOWNSHACK

They will just ignore it like they always do.

#4 | Posted by Sycophant at 2018-07-12 07:41 PM | Reply

In related news...math.

Film at 11.

#5 | Posted by Danforth at 2018-07-12 08:11 PM | Reply

Trump has a cunning plan....

www.youtube.com

#6 | Posted by Corky at 2018-07-12 09:00 PM | Reply

The Dotard heard about the deficits run up by Obama and decided to have bigger ones.

Seriously, we're seeing the beginnings of stagflation -- interest rates driven up by the Fed and the market, employment up but wage growth lagging, industrial production dropping because of tariffs, prices for imported goods rising, macroeconomic activity good but limited on the upside. Most US residents will see little positive benefit from the Trump tax scheme. Those at the top will see a big bounce thanks to their hired stooge -- the rest of us, no. Thanks, Repubs...

#7 | Posted by catdog at 2018-07-12 09:55 PM | Reply | Newsworthy 1

We've already seen this movie. This never turns out well. The Republicans do this to take short term profits and then they know there will be a huge contraction which will cause millions of foreclosure, etc. This is not a bad decision, it is a plan. The greedy capitalists will buy all the property forclosed upon and get richer, they do this over and over. American needs to roll out guillotines on Wall Street. That is the only real cure for this greed. It's time. Hey invest in guillotine companies, it's a growth market.

#8 | Posted by danni at 2018-07-12 10:38 PM | Reply

Whot??

US deficit jumps under Trump's watch?

Incon-thieve-able.

#9 | Posted by oldwhiskeysour at 2018-07-12 11:04 PM | Reply

Inb4 the Orange Adolf supporters exclaim "fake news", Obama's fault, you're just mad the Hillmonster lost, or some other goofus deflection!

#10 | Posted by aborted_monson at 2018-07-13 02:49 AM | Reply

Tax cuts pay for themselves! - #1 | Posted by 726 at 2018-07-12 02:27 PM
From the article:
"Revenue rose to $2.54 trillion in the period, up 1.3 percent from a year earlier. Spending rose 3.9 percent to $3.15 trillion."
"While the economy likely quickened in the second quarter from the first three months of the year, revenue in the April-June period totaled $1.04 trillion, up slightly from $1.03 trillion in the same period a year earlier."
"The stimulus impact from the recent budget deal is starting to become evident,"
"Spending rose 3.9 percent to $3.15 trillion.
Compared to the same period last year, spending on interest payments and the country's three largest mandatory programs -- Social Security, Medicare and Medicaid -- increased, according to a Congressional Budget Office report released Monday."

Once again revenue goes up, even at lower tax rates, while government spending goes up even faster. Maybe we should look to reign in some spending.

#11 | Posted by Avigdore at 2018-07-13 07:02 AM | Reply

Anyone who's surprised by this news, hasn't been paying attention.
#3 | POSTED BY CLOWNSHACK
They will just ignore it like they always do.

#4 | POSTED BY SYCOPHANT AT 2018-07-12 07:41 PM | FLAG:

Until a Democrat is president. Then they will give a ----.

#12 | Posted by 726 at 2018-07-13 07:40 AM | Reply

"Maybe we should look to reign in some spending."

Oh surprise, cut taxes and then start saying we need to cut SS, Medicare, Medicaid, food stamps, etc. No, let's just put back a rational tax system like we had before that evil piece of crap Reagan. We didn't have these problems back then, our country didn't have huge debt before Reagan. Reagan, Reagan, Reagan. Fix our country, reverse Reagan.

#13 | Posted by danni at 2018-07-13 07:41 AM | Reply | Newsworthy 1

Spending rose 3.9 percent to $3.15 trillion.

Yup. Spending by the GOP controlled House, Senate and Executive.

How many millions in additional spending is for golf trips to Mango Lameo? Oh yeah, Mr. Transparency won't let the GAO see his spending records.

www.washingtonpost.com

#14 | Posted by 726 at 2018-07-13 07:43 AM | Reply | Newsworthy 1

We don't need to rein in spending we need to raise taxes on the wealthy since most of the spending is on their brain farts.

#15 | Posted by RightisTrite at 2018-07-13 08:01 AM | Reply | Funny: 1 | Newsworthy 2

"Yup. Spending by the GOP controlled House, Senate and Executive."

Thanks Obama!

#16 | Posted by danni at 2018-07-13 08:12 AM | Reply

No, let's just put back a rational tax system like we had before that evil piece of crap Reagan. - #13 | Posted by Danni at 2018-07-13 07:41 AM
Canada has the richest middle class in the world. How about we copy their tax plan?

#17 | Posted by Avigdore at 2018-07-13 08:17 AM | Reply

we need to raise taxes on the wealthy since most of the spending is on their brain farts. - #15 | Posted by RightisTrite at 2018-07-13 08:01 AM
The VAST majority of spending is on Social Security and Medicare. How precisely are those the brain farts of the wealthy? Or is it really a brain fart on your part to make such a statement?
Healthcare ($1,077B or 27% of spending), Social Security ($939B or 24% of spending)

#18 | Posted by Avigdore at 2018-07-13 08:24 AM | Reply

No, let's just put back a rational tax system like we had before that evil piece of crap Reagan.

Yea, lets just fleece the only productive members of our society. I'm sure the people who are paying 80% of the taxes in this country wouldnt mind being taxed more to 90%, while everyone else is barely taxed at all.

Sometimes, Danni, your ignorance is stunning.

#19 | Posted by boaz at 2018-07-13 08:28 AM | Reply

Sometimes, Danni, your ignorance is stunning.

Physician heal thyself! What you don't understand about taxes is equivalent to what you don't know about most things in the universe. People with the least money (wealth) pay MORE of their income towards taxes than do the wealthy and it's always been that way because most of our governments use REGRESSIVE taxation to fund themselves.

Pull your head out of the ill-informed right wing fever swamps that demonize the true engines of our consumption-based economy (the masses) and stop carrying undeserved water for those who continue to shift their own responsibilities to those less able to afford it without deep and meaningful personal sacrifices the wealthy will never have to consider in a trillion years.

#20 | Posted by tonyroma at 2018-07-13 09:02 AM | Reply

"Yea, lets just fleece the only productive members of our society. I'm sure the people who are paying 80% of the taxes in this country wouldnt mind being taxed more to 90%, while everyone else is barely taxed at all."

Those folks won't be investing in America unless we give them incentives to do so.....higher taxes they can avoid by paying higher wages, building more facilities, etc. That's how we built this nation, then Reagan changed the rules and we've been in decline with growing debt ever since. Reality, something right wingers don't like to face, they think they are John Wayne going it alone, bring on the patriotic music. Laughable. You depend on the socialism of our government more than almost anyone here then you try to pretend to be this individual who doesn't need government.

#21 | Posted by danni at 2018-07-13 09:11 AM | Reply | Newsworthy 1

"I'm sure the people who are paying 80% of the taxes..."

Stop pretending income taxes are the only federal taxes. It makes you look stupid.

#22 | Posted by Danforth at 2018-07-13 09:15 AM | Reply | Newsworthy 1

Those opposed to returning to the tax system pre-Reagan, which had a top marginal rate of 70% should take their argument and imagine they are arguing with Eisenhower who presided when the top rate was 90%. He would laugh in your face. Now, call him a Communist.

#23 | Posted by danni at 2018-07-13 09:23 AM | Reply

Everyone knows that under Republicans deficits don't matter.

#24 | Posted by Whatsleft at 2018-07-13 09:27 AM | Reply

Yea, lets just fleece the only productive members of our society. I'm sure the people who are paying 80% of the taxes in this country wouldnt mind being taxed more to 90%, while everyone else is barely taxed at all.
Sometimes, Danni, your ignorance is stunning.

#19 | POSTED BY BOAZ

Says the guy who's so ignorant he relies on logical fallacies for 75% of the rebuttals.

#25 | Posted by jpw at 2018-07-13 09:34 AM | Reply

Stop pretending income taxes are the only federal taxes. It makes you look stupid.

#22 | POSTED BY DANFORTH

Or that the only option is a tax rate that most people on both sides of the aisle probably wouldn't agree to anyways.

#26 | Posted by jpw at 2018-07-13 09:36 AM | Reply

"Or that the only option is a tax rate that most people on both sides of the aisle probably wouldn't agree to anyways."

Republicans will not support ANY tax increase no matter how large the deficit is. They depend on Democrats to be the conscience of Congress because they don't have consciences. When we take back Congress we get the fun job of raising taxes to try to pay down the debt and deficits Republicans create with their "two Santa Clause" theory of political strategy.

#27 | Posted by danni at 2018-07-13 09:55 AM | Reply | Funny: 1 | Newsworthy 1

--When we take back Congress we get the fun job of raising taxes to...

...Expand government and create all kinds of new spending programs.

#28 | Posted by nullifidian at 2018-07-13 09:59 AM | Reply | Newsworthy 2

@#27 | Posted by Danni at 2018-07-13 09:55 AM |
Don't be disingenuous. Neither D nor R has paid down the debt in over 60 years. When R are in control, they seek to cut taxes in an effort to help everyone by allowing the economy to flourish and raise the standard for everyone. When D are in control, they seek to raise taxes in an effort to more directly help those at the lowest levels of the economy. Neither, ever (60 years), seek to lower the debt.

#29 | Posted by Avigdore at 2018-07-13 10:09 AM | Reply | Funny: 1

...Expand government and create all kinds of new spending programs.

#28 | POSTED BY NULLIFIDIAN

Yeah, god knows the DoD needs more. Who can possibly get by with $700+ billion dollars a year?

God you've become such a complete waste of space. Your principles and views are so flaccid they flop about in even the slightest of air movements.

#30 | Posted by jpw at 2018-07-13 10:31 AM | Reply | Newsworthy 1

--Yeah, god knows the DoD needs more

Same old whataboutism. Every time someone suggests that we don't need trillions more in new spending the proggies shriek "what about the pentagon?" You could cut the Pentagon budget to zero and it still wouldn't pay for the progressive wish list.

#31 | Posted by nullifidian at 2018-07-13 10:48 AM | Reply

That wasn't the point.

The point was while you whine about theoretical programs that help the average person we have actual programs that piss money down the MIC hole.

But since your only concern is being bitter about lefties you only worry about that which doesn't exist.

#32 | Posted by jpw at 2018-07-13 10:55 AM | Reply | Newsworthy 1

"Expand government and create all kinds of new spending programs."

It's not about new spending programs. It's about adequately funding exiting ones. We all know that the next step is for the GOP to start talking about "necessary" spending cuts to programs like SS, Medicare, Medicaid, food stamps, Pell grants, CHIP, etc.

#33 | Posted by Gal_Tuesday at 2018-07-13 11:02 AM | Reply | Newsworthy 1

"We all know that the next step is for the GOP to start talking about "necessary" spending cuts..."

Just like we all knew what was gonna happen with

Korea
NATO
Great Britain
Germany
Immigration
Health Care
The Tax Scam
Charlottesville
Transgenders
And pretty much anything Humpy touches.

#34 | Posted by donnerboy at 2018-07-13 11:12 AM | Reply

"Neither D nor R has paid down the debt in over 60 years."

It's a little hard to pay down debt when after Democratic Presidents do raise taxes and do greatly reduce deficits only to be followed by Republicans who come in and slash taxes again. It's like a cycle that has been repeated over and over since Reagan. It's referred to as the "Republican Two Santa Clause strategy."

#35 | Posted by danni at 2018-07-13 11:14 AM | Reply

#35 | Posted by Danni at 2018-07-13 11:14 AM
You're being disingenuous again. Ignoring half of the equation isn't telling the whole truth.
In General: Democratic raise taxes and raise spending. Republicans cut taxes and try, but fail, to cut spending. If the Democrats paid the debt down with the increased taxes instead of increasing spending, the debt could be paid down. If Republicans succeeded in cutting spending instead of cutting taxes, the debt could be paid down. In both of those instances, paying the debt is the hard, unpopular thing. It's lot easier to get and maintain power by telling people they can keep more of their money or that you're going to give them more stuff paid for with other people's money.

#36 | Posted by Avigdore at 2018-07-13 11:52 AM | Reply | Newsworthy 2

"Q: During the Clinton administration was the federal budget balanced? Was the federal deficit erased?

A: Yes to both questions, whether you count Social Security or not."

www.factcheck.org

#37 | Posted by danni at 2018-07-13 12:01 PM | Reply | Newsworthy 1

And then George Bush got tax cuts passed and started an expensive unnecessary war.

Both parties are not the same.

#38 | Posted by danni at 2018-07-13 12:04 PM | Reply | Newsworthy 1

During the Clinton administration was the federal budget balanced? Was the federal deficit erased? - #37 | Posted by Danni at 2018-07-13 12:01 PM

Neither of which speak to the debt. The thing we were talking about.

the debt could be paid down - #36 | Posted by Avigdore at 2018-07-13 11:52 AM
pay down debt #35 | Posted by danni at 2018-07-13 11:14 AM
paid down the debt #29 | Posted by Avigdore at 2018-07-13 10:09 AM
pay down the debt #27 | Posted by danni at 2018-07-13 09:55 AM
have huge debt before Reagan. - #13 | Posted by danni at 2018-07-13 07:41 AM

You know what Clinton also didn't do? Pay down the debt.

#39 | Posted by Avigdore at 2018-07-13 12:19 PM | Reply

And then George Bush got tax cuts passed and started an expensive unnecessary war.
Both parties are not the same.
POSTED BY DANNI AT 2018-07-13 12:04 PM | REPLY

You forget Obama continued the Bush tax cuts so really they are the same.

#40 | Posted by LauraMohr at 2018-07-13 12:23 PM | Reply | Newsworthy 1

You forget Obama continued the Bush tax cuts so really they are the same.

#40 | POSTED BY LAURAMOHR

Because repealing them in the middle of the worst recession since the Great Depression would have been a really stupid thing to do. Bush cut taxes in the middle of the internet/housing boom. You raise taxes in good times so you have resources you need when bad times (inevitably) come. Republicans do it backward, and it is intentional. So, NOT the same.

#41 | Posted by WhoDaMan at 2018-07-13 01:20 PM | Reply

And then George Bush got tax cuts passed and started an expensive unnecessary war.
Both parties are not the same.
POSTED BY DANNI AT 2018-07-13 12:04 PM | REPLY
You forget Obama continued the Bush tax cuts so really they are the same.
#40 | POSTED BY LAURAMOHR

Actually, no he didn't.

Initially he compromised with Republicans and kept the tax cuts in place during the recession. But in 2012, he forced Congress to raise taxes on wealthy families and individuals.

Politifact rated it as a Compromise.

Care to try again?

#42 | Posted by Sycophant at 2018-07-13 01:53 PM | Reply

the debt could be paid down - #36 | Posted by Avigdore at 2018-07-13 11:52 AM
pay down debt #35 | Posted by danni at 2018-07-13 11:14 AM
paid down the debt #29 | Posted by Avigdore at 2018-07-13 10:09 AM
pay down the debt #27 | Posted by danni at 2018-07-13 09:55 AM
have huge debt before Reagan. - #13 | Posted by danni at 2018-07-13 07:41 AM

You know what Clinton also didn't do? Pay down the debt.
#39 | POSTED BY AVIGDORE

Actually, he did. He paid down public debt by investing in government bonds with the surplus. So while the national debt doesn't look like it changed, there was an increase in government assets and decrease in public debt. That ended up reducing later government deficits.

It also meant public debt owed by the Federal Government decreased during Clinton's term.

It was actually the absolute best financial move the government can make with the surplus.

#43 | Posted by Sycophant at 2018-07-13 02:01 PM | Reply

"Canada has the richest middle class in the world. How about we copy their tax plan?
#17 | POSTED BY AVIGDORE"

Their tax plan includes universal health care, so how about you make suggestions that you or your party actually support?

#44 | Posted by snoofy at 2018-07-13 02:05 PM | Reply | Newsworthy 1

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