Proud of Irresponsible Budget
Fools and Hypocrites Praise Trump
In 2016, Trump promised to totally wipe out $19 trillion in national debt over eight years in office. Republicans cheered.
Today, hypocrite republicans cheer a trillion dollar deficit and a national debt projected to rise by about $9 trillion.
Trump's Lies vs Reality
Please consider Trump and the National Debt
During the 2016 presidential campaign, Republican candidate Donald Trump promised he would eliminate the nation’s debt in eight years. Instead, his budgets would add $9.1 trillion during that time. It would increase the U.S. debt to $29 trillion according to Trump's budget estimates.
Democrats Happy Too
The Hill reports "Trump, who vowed last March to never again sign a massive omnibus spending package, took umbrage in the fact that the spending was divided among two separate bills and played up Republican wins."
Democrats claimed major victories in the bills as well, such as $25 million to fund research into gun violence, the first such funding in 20 years, $425 million for election security, increased funding for climate research and full funding for the 2020 census. They included a 3.1 percent pay increase for federal workers, matching the raise for members of the military.
“I am particularly proud that House Democrats prevailed in securing historic investments For the People, including record funding levels for Head Start and lifesaving medical research at NIH, and in funding priorities vital to our shared security, like gun violence prevention research and election security grants to states,” said House Appropriations Chairwoman Nita Lowey (D-N.Y.).
Hype vs Reality
According to the latest Congressional Budget Office data released on Monday, the full-year deficit for 2019 is estimated to come in at $984 billion, just shy of the $1 trillion that many analysts were expecting. In 2018 the figure was $779 billion and in 2017 it was $665 billion.
During the last election, Trump said he could clear America's $19 trillion of gross federal debt within eight years. To do that would mean eliminating the federal deficit, the negative difference between income and expenditure which keeps adding to the debt pile. It is now $22 trillion.
"We're not a rich country. We're a debtor nation...We've got to get rid of the $19 trillion in debt," Trump told The Washington Post in April 2016, several months before the election he would win. "I think I could do it fairly quickly...I would say over a period of eight years," Trump added, and suggested he would do so by renegotiating trade deals and creating trade surpluses.
Read those last two paragraphs closely. Trump pledged to eliminate the debt, not the deficit in 8 years.
Does Newsweek understand the difference?
Regardless, eliminating the deficit is orders of magnitude easier than eliminating the debt, and Trump could not even do that.
Another Trump Fiscal Idiocy
Was Trump really stupid enough to believe that or was it a purposeful lie?
Trump is full of fiscal BS and lies, yet his supporters cheer.
The budget is irresponsible. Period.
If Democrats produced a budget with a trillion dollar deficit, the Republican hypocrites would be shouting from the rooftops.
When Republicans do the same, there is not one peep anywhere. Even the Democrats seem happy.
TDS Accusations Coming
In response to this post, I expect massive numbers of people accusing me of TDS (Trump Derangement Syndrome).
They will ignore the fact that I supported his Supreme Court appointments, praised him for not starting any new wars, and repeatedly mocked those calling for impeachment.
As example of the latter, please see Christmas Impeachment Stocking: There's Nothing In It
For the record, I voted for Trump and would do so again against Hillary.
In reality, many of those accusing others of TDS are the deranged ones.
In their eyes, Trump can do no wrong. They will not admit Trump's brazen lies, massive narcissism, or disastrous trade policy decisions.
The irony in at least some of these TDS accusations is the accusers are the ones who are Trump Deranged.
Yet, I know where the accusations come from. One look at the biased anti-Trump reporting of CNN, the Washington Post, and the New York Times explains much of it.
Instead of hammering Trump on real issues, we see endless garbage on Russia and impeachment "bombshells" where the demise of Trump has allegedly been imminent since the day he was elected.
Projected US Budget Deficit Lie in Four Pictures
Meanwhile, it's important to understand that budget deficit projections are themselves a lie.
By that I mean the increase in national debt is nearly always greater than the deficit. For discussion, please see my March 11 post Projected US Budget Deficit Lie in Four Pictures.
Given new CBO projections from this revised budget, ite seems I need to do an update.
Mike "Mish" Shedlock