GOP Tax Bill

conroe4 · Jul 19, 2019

Yup, we can kick ass, and they all know it. That means we don't have to kick ass.

Trump's doing great. He's playing the dem's like a fiddle. Squad, Squaw, and Suckers.

So making the US weak will keep us from starting wars huh? How would we defend ourselves against wars if we're weak?
Weakness is your defense? You're fucked up, doggo. Being weak may have worked for you in this society, but weakness
is not the way to strength in the world.

Distant Lover · Jul 19, 2019

conroe4 said: ↑

Yup, we can kick ass, and they all know it. That means we don't have to kick ass.

Trump's doing great. He's playing the dem's like a fiddle. Squad, Squaw, and Suckers.

So making the US weak will keep us from starting wars huh? How would we defend ourselves against wars if we're weak?
Click to expand...

Money does not necessarily equal strength. With all the money we spent on the unnecessary and immoral War in Vietnam, we still lost.

With all the money we have spent on the wars in Afghanistan and Iraq, this is still not true:

When Osama bin Laden saw that photograph he must have laughed so hard he fell on the floor.

By the way, George the Lesser did not get bin Laden. President Obama did. It did not take invasions of Afghanistan and Iraq. All it took was a raid by Navy Seals in Pakistan.

The United States Department of Offense is an expensive government spending program that does not work.

Distant Lover · Jul 19, 2019

conroe4 said: ↑

Weakness is your defense? You're fucked up, doggo. Being weak may have worked for you in this society, but weakness
is not the way to strength in the world.
Click to expand...

I was wondering when the insults would start. With you I knew they would begin pretty quickly. Insults and obscene words are all you have.

conroe4 · Jul 19, 2019

Tap Tap wrap and splash. Way to go Navy Seals.

conroe4 · Jul 19, 2019

Taxing the rich and making a weak military <so we don't make war> are absurd platforms. So yeah, insults fly. LOL
Live with it.

stumbler · Aug 1, 2019

Don’t be fooled by Trump’s lies: This is where your tax dollars really go

Donald Trump and Republicans in Congress claim that America spends too much on things like food stamps, welfare, and foreign aid.

But let’s look at how the government actually spends your federal tax dollars each year. We’re going to look at what’s known as the “discretionary budget,” which has to be reappropriated by Congress each year.

Start with foreign aid, the conservatives’ favorite boogeyman. It’s $29 billion a year. That may sound like a lot but it’s only 2 percent of all discretionary spending. Add all spending on international affairs, it’s 4 percent.

What about science and technology, including NASA, the National Science Foundation, and research in clean energy, which conservatives love to hate?Just 3 percent.

The environment and natural resources – money for clean air, safe drinking water and protecting public lands? Another 3 percent.

Roads, bridges, highways, airports, all transportation funding: Another 3 percent.

Community and regional development: 2 percent.

Law enforcement, the Department of Justice, the entire federal court system: 5 percent

The Centers for Disease Control, the National Institutes of Health, and rural health clinics: 5 percent.

Food stamps, energy assistance, child care, other income security: Just 6 percent.

Education and workforce training gets just 7 percent.

Veterans benefits account for 7 percent of the budget as well.

All other government services–including Energy, Agriculture, and Commerce–account for only 1 percent of the discretionary budget.

But that’s only 46 percent. The remaining 54 percent of annual spending is on the military, which is more spent on the military than the next 7 nations combined. It’s huge. It’s about the only really big thing the federal government does.

You may be thinking, but what about Social Security, Medicare, Medicaid, and the Affordable Care Act?

By law, these programs are mandatory spending, which don’t require Congress to approve funding every year. Americans have paid into Social Security and Medicare over their entire working lives.

Yet they’re still vulnerable. In fact, if Trump and Republicans in Congress aren’t going to cut discretionary spending – especially on the military – the only places they can look to make way for more tax cuts for the wealthy and corporations are Social Security, Medicare, and Medicaid.

That’s been their goal all along.

Know where the money is really going. And know what they have in mind.
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https://www.rawstory.com/2019/07/do...ies-this-is-where-your-tax-dollars-really-go/

abej · Aug 1, 2019

Was unable to answer the question when first posted!
Like anything Politian's do it takes time to either bear
fruit or wither...

Working for an overseas organization, left up to my own
devises to negotiate salary...Saying that...The tax cut did
leave more money in my pocket. Repatriating money from
the overseas clause. Accidental or on purpose? It matters little to me!
Being able to keep more, than the previous year...

Viewing it from my perspective? Would say it was a good thing....

shootersa · Aug 1, 2019

Uh oh.

You're leaving yourself open to being labeled a greedy selfish deplorable by the despicables...

stumbler · Aug 2, 2019

White House ‘hung up’ on Gold Star widow when she called to complain about Trump tax bill: CNN

A Gold Star widow told CNN’s Alisyn Camerota on Friday that the Trump White House hung up on her when she called to tell them about how President Donald Trump’s signature tax plan has been hurting her family.

During an interview on CNN, Gold Star widow Jessica Braden-Rogers explained how *taxes on her late husband’s survivor’s benefits and Social Security quadrupled after the passage of Trump’s tax plan in late 2017.

“We had no idea the new tax laws were going to impact Gold Star kids,” she told Camerota. “We had no clue of any of this until February and March this year when we started filing our 2018 taxes, and then we found out how this had impacted us. They were all shocked.”

Braden-Rogers went on to explain how she has tried to reach out to lawmakers to lobby them to fix the tax law so Gold Star families don’t get hit with higher tax bills — but she said that several Republicans, including the Trump White House, have been giving her the cold shoulder.

“In April, I tried calling [the White House] and was hung up on,” she said.

Camerota seemed surprised that the White House would just hang up on a Gold Star widow and asked her to explain further.

“As soon as the operator at the White House comment line answered the phone and I started to explain the reason of my call… they literally hung up, they didn’t say, ‘Thank you for calling,’ you know, ‘We’ll take your concerns to the president’… they hung up on me.”

Watch the video below.
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*The House has already passed a fix for this and sent it to the Senate but of course Moscow Mitch won't let it come to the floor for a vote. He and Trump would rather just fuck over Gold Star families. Who gives a fuck if they made the ultimate sacrifice for our country.

https://www.rawstory.com/2019/08/wh...-called-to-complain-about-trump-tax-bill-cnn/

PS Every time you Trump supporters claim you support our troops and veterans you are simply puking phony non-fucking liars.

stumbler · Aug 12, 2019

U.S. Budget Deficit Up 27%, Approaching $1 Trillion

The US budget deficit has increased another $119.7 billion, which is 27% higher than it was this time one year ago, according to CNBC.

Government spending increased 22.8% whereas revenue increased 11.6%. This brings the fiscal year deficit to $866.8 billion, a year and a half after President Donald Trump’s $1.5 trillion tax cut which he said would pay for itself. At this time last year, the deficit was $684 billion.

There are two months left in the fiscal year, and the Treasury Department projects a deficit of over $1 trillion.

Trump’s tax cut lowered the rate corporations have to pay from 36% to 21%, but tax receipts are up 3.2% this year. Individual income tax receipts have risen just over 1%. However, this hardly put a dent in government spending.

The deficit increase was largely a result of increased spending on health care and the military. Medicare outlays rose 11% to $66 billion, and defense spending rose $10 billion to $53 billion in total.

The two-year budget deal Trump negotiated with Congress will add to the deficit, with its increase of spending on military and domestic programs.

The federal budget deficit first broke $1 trillion in 2009, weighing in at $1.4 trillion, when the government attempted to stir an economy in recession, according to the Congressional Budget Office. This was three times larger than the deficit in 2008, and deficits ever since that year have put those before 2009 to shame. Since 1973, the only years the federal government broke even were 1999 and 2000.
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https://www.mediaite.com/politics/u-s-budget-deficit-up-27-approaching-1-trillion/

Distant Lover · Aug 13, 2019

Shooter predicts when President Trump is reelected rear admiral butt nugget will need to be hospitalized.

- shootersa

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Newsweek, Aug 13, 2019

President Donald Trump would endure a resounding defeat against potential 2020 contenders Joe Biden or Bernie Sanders, according to a new SurveyUSA poll that surveyed registered voters about their preferred choices in hypothetical, head-to-head matchups.

Former Vice President Joe Biden and independent Senator Bernie Sanders, both currently competing for the Democratic Party's presidential nomination, would trounce Trump by eight points in the popular vote, according to the poll.

Biden and Sanders earned the support of 50 percent of U.S. registered voters, SurveyUSA found, while Trump lagged behind at 42-percent support.

The poll was conducted over the first five days of August, just after the Democratic Party's second presidential debates in Detroit, Michigan.

Candidates such as senators Elizabeth Warren and Kamala Harris edged out Trump in potential runoffs, but their leads weren't wide enough to overcome the margin of error.

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If Trump wins in the Electoral College while losing the popular vote there will be a Constitutional crises.

The dikes the Republicans are building against the Blue Wave cannot last. When the dikes break the Republican Party will be washed out to a watery grave to join the Federalists and the Whigs.

Support for the GOP is pretty well limited to whites. Of whites those who are older and/or less well educated usually vote Republican. The Old Stupid Party is full of old and stupid people. Every day more of them die. More young people register as Democrats.

shootersa · Aug 13, 2019

Yep, them angry old white men ( and their wives, cause they do what their husbands order them to do) put that white racist nazi in the white house. Well, with a little help from Russia and North Korea.

If the economy stays strong beating Trump won't be as sure a thing as the pundits predict.

stumbler · Aug 17, 2019

So the new monetary policy is do what I say or I crash the economy.

Love me Hate me. None of my problem. Vote for me or you all fucking pay.

stumbler · Aug 17, 2019

Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and that is a concern

There may be some limitations to the U.S. government’s borrowing, after all.

An anticipated surge of U.S. borrowing in the global debt markets in the second half of this year is starting to create concern as the Treasury is expected to ramp up its issuance of bills, notes and bonds to fund a soaring $1 trillion budget deficit.

The U.S. government’s budget gap has widened 27% as compared with the first 10 months of fiscal 2018, as spending has risen 8% and receipts have grown by 3%. The federal fiscal year runs October through September. The Trump administration recently forecast a $1 trillion full-year shortfall, while the Congressional Budget Office is slightly more conservative, putting it at $896 billion.

Last month the U.S. Treasury laid out its plans to borrow $814 billion between July and December, after the Trump administration and Congress agreed to a two-year postponement of the U.S. debt ceiling, ensuring no government shutdown or a federal default.

Not only does the Treasury needs to borrow to cover the fiscal deficit created by Trump’s 2017 tax cuts and the inability of Congress to agree on spending cuts, but Treasury needs to rebuild its cash balance which was run down to pay the governments bills when the debt ceiling was hit in May.

The coming deluge of Treasury issuance has stoked worries on Wall Street about whether there is enough liquidity in the system in the short term to meet the supply without pushing up short-term borrowing costs and inverting the yield curve even further.

U.S. dollar liquidity is deteriorating and “is reaching a point where it may require drastic action if measures aren’t taken to address it soon,” warned Gaurav Saroliya, director of macro strategy at Oxford Economics, in a note on Wednesday.

To illustrate the concern, Saroliya pointed to the higher costs already faced by London-based banks lending to one other overnight in dollars, the popular dollar Libor-OIS spread, which has climbed in anticipation of the Treasury glut hitting markets.

This chart shows the rise of the 3-month dollar Libor-OIS spread since May, even as U.S. Treasury cash balances at the Federal Reserve have dropped from about $400 billion to closer to $150 billion.

Oxford Economics
International funding squeeze
As the Treasury restores its cash balance with the coming supply, Saroliya expects liquidity woes to worsen, particularly in a scenario where long-term Treasury notes are yielding less than shorter-dated debt.

“With Treasury issuance set to surge in the wake of the recent debt-ceiling deal, an inverted yield curve could create a significant issuance indigestion in the market,” Saroliya wrote.

On Wednesday, the U.S. Treasury 10-year note’s TMUBMUSD10Y, +0.00% yield briefly fell below the 2-year note’s TMUBMUSD02Y, +0.00% yield, an inversion of the funding curve that has foretold past economic slowdowns.

Meanwhile fears of an economic recession rattled U.S. stocks Wednesday, with the Dow Jones Industrial Average DJIA, +1.20% closing down 800 points, its biggest one-day fall this year, before some recovery on Thursday morning in the benchmark S&P 500 index SPX, +1.44% .

Amid the stock-market rout, the chances of a half-percentage-point cut in the federal funds rate in September rose to 30.4%. Markets are pricing in a 69.6% chance of a quarter-point rate cut next month.

Despite the rising Treasury debt issuance, investors globally have been buying U.S. government debt, pushing the 30-year U.S. bond TMUBMUSD30Y, +0.00% to a record low around 2% this week, as yields on many other developed-economy bonds are even lower, with about $15 trillion in debt now offered at negative yields.

Slowing global economic growth due to the U.S.-China trade war is resulting in central banks’ easing monetary policy, and an array of geopolitical risks from Brexit, to Italian political instability, to U.S. sanctions on Iran and violent protests in Hong Kong are encouraging investors into the safe haven of U.S. debt.

But in the short-term money markets, the coming flood of U.S. debt issuance may cause indigestion.

Bond dealers who underwrite the Treasury’s debt sales in the weekly auctions are already holding record amounts of U.S. Treasurys on their books as the fiscal deficit has increased. Now their need to borrow more cash in short-term money markets, using Treasuries as collateral, to buy even more government debt is pushing up short-term rates.

A key risk barometer, the U.S. “repo” market, where cash is borrowed overnight using Treasurys for collateral, has signaled that liquidity is tightening.

Repo rates have climbed recently in relation to what the Federal Reserve pay banks to hold excess reserves. The rate that lenders have charged for cash in the market for Treasury repurchase agreements was 2.22% on Tuesday, compared with the 2.1% that the Federal Reserve pays banks to hold excess reserves, known as the IOER rate.

Liquidity may also be tightening in the market for short term borrowing of U.S. dollars internationally, known as the “foreign repo pool” where non-U.S. investors keep cash balances with the Federal Reserve, and the rising costs of currency hedging given the strength of the U.S. dollar may make investing in U.S. Treasury debt less appealing, Saroliya noted.

China and Japan were by far the largest foreign holders of Treasury securities, as of July 16, in the most recent report of holders.

For Saroliya, it all boils down to the Federal Reserve needing to act to preserve liquidity, perhaps by cutting benchmark U.S. rates by another 50 to 100 basis points or through another round of quantitative easing or bond buying.

“And that needs to be immediate!” Saroliya urged.

Earlier this month, Bank of America Merrill Lynch analyst Mark Cabana also warned that the historically high levels of Treasury securities held by dealers could pose problems when it come to issuing more debt.

This chart shows dealer holdings of Treasury debt rising between January and July, at the same time custody holdings at the New York Fed have declined.

Bank of America Merrill Lynch
“We are concerned that the U.S. banking system is nearing reserve scarcity,” Cabana wrote in a note to clients. Ultimately, he said opening the Treasury “floodgates” would likely “force the Fed to start expanding its balance sheet by year-end.”

To be sure, not everyone sees doom in the U.S. adding to the already $22.4 trillion national debt.

“A lot of Street commentators have highlighted the fact that there is going to be a huge amount of supply in the Treasury market, and how that is going to affect rates,” said Robert Sabatino, global head of liquidity at UBS Asset Management, in an interview with MarketWatch.

“When you look at the space though this is a market that most people want to own at some point, especially given the fact that there are $15 trillion of bonds in negative yields,” he said. “It makes the U.S. look really attractive.”
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https://www.marketwatch.com/story/t...s-a-worry-2019-08-15?siteid=yhoof2&yptr=yahoo

CS natureboy · Aug 17, 2019

stumbler said: ↑

Treasury is about to flood the market with debt to fund U.S.’s $1 trillion deficit — and that is a concern

https://www.marketwatch.com/story/t...s-a-worry-2019-08-15?siteid=yhoof2&yptr=yahoo
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You think so?

So I guess all this happen just 3 years ago when Trump became president?

So what is the Democrats plan to help the US economy?

How about the Democrat tax plan?

When are the US voters going to get a look at the Democrats proposals for the future of the US?

Distant Lover · Aug 17, 2019

CS natureboy said: ↑

How about the Democrat tax plan?
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The Hill, 02/03/19

Sen. Elizabeth Warren (D-Mass.), who has announced an exploratory committee for president, recently announced a proposal for an annual tax on the wealth of households with a net worth above $50 million. Her plan would focus on accumulated wealth, as opposed to income.

Sen. Bernie Sanders (I-Vt.), who is considered likely to enter the Democratic primary field, introduced legislation on Thursday that would significantly expand the estate tax. He offered a similar proposal during his 2016 presidential campaign, but the new version calls for an even higher rate on the biggest estates, taxing the value of estates that exceed $1 billion at a rate of 77 percent, up from 65 percent in his earlier plan.

The rollouts from Warren and Sanders come after freshman Rep. Alexandria Ocasio-Cortez (D-N.Y.), a rising star on the left but who is too young to run for president in 2020, sparked a national debate by floating a 70-percent marginal tax rate for individuals with annual income over $10 million.

The proposals from potential White House hopefuls also come a little more than a year after Trump signed tax-cut legislation that did not receive any votes from congressional Democrats. The legislation also didn’t garner widespread public support, with polls showing many voters have agreed with Democratic lawmakers that the law benefits the wealthy and corporations more than the middle class.

CS natureboy · Aug 17, 2019

Distant Lover said: ↑

The Hill, 02/03/19

Sen. Elizabeth Warren (D-Mass.), who has announced an exploratory committee for president, recently announced a proposal for an annual tax on the wealth of households with a net worth above $50 million. Her plan would focus on accumulated wealth, as opposed to income.

Sen. Bernie Sanders (I-Vt.), who is considered likely to enter the Democratic primary field, introduced legislation on Thursday that would significantly expand the estate tax. He offered a similar proposal during his 2016 presidential campaign, but the new version calls for an even higher rate on the biggest estates, taxing the value of estates that exceed $1 billion at a rate of 77 percent, up from 65 percent in his earlier plan.

The rollouts from Warren and Sanders come after freshman Rep. Alexandria Ocasio-Cortez (D-N.Y.), a rising star on the left but who is too young to run for president in 2020, sparked a national debate by floating a 70-percent marginal tax rate for individuals with annual income over $10 million.

The proposals from potential White House hopefuls also come a little more than a year after Trump signed tax-cut legislation that did not receive any votes from congressional Democrats. The legislation also didn’t garner widespread public support, with polls showing many voters have agreed with Democratic lawmakers that the law benefits the wealthy and corporations more than the middle class.
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I'm not interested in empty campaign promises as lies...

Where is the legislation these two have written?

Where are the bills they have introduced?

These two have been in Congress for decades.... And now they want to be president because the American people need more of their do nothing agenda and lies???

The only thing these two have done their entire career in Congress was make themselves richer while the average American got poorer...

Self enrichment is the only thing they have to show for their time in Congress....

Distant Lover · Aug 18, 2019

CS natureboy said: ↑

I'm not interested in empty campaign promises as lies...

Where is the legislation these two have written?

Where are the bills they have introduced?

These two have been in Congress for decades.... And now they want to be president because the American people need more of their do nothing agenda and lies???

The only thing these two have done their entire career in Congress was make themselves richer while the average American got poorer...

Self enrichment is the only thing they have to show for their time in Congress....
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Just now I sent Senators Bernie Sanders and Elizabeth Warren email letters suggesting that they introduce a bill in Congress to raise taxes on the rich. I said that would demonstrate their seriousness on an issue where most of the voters agree with them.

I could not find Alexandria Ocasio-Cortez's e-mail address.

These people get lots and lots of letters. It will be interesting to see if I get any response.

stumbler · Aug 19, 2019

First let's take a look at how "conservatives" used to talk.

CFH420 said: ↑

Just wait

This entire time obama has been in office, we have been spending money and printing more to make up for it.

Just wait until it catches up with us and the economy gets raped, thus raping everyone elses' economy.

obama will again weasel out of it, saying its not his fault when it is, the retard population will accept it, only this time the protests will be bigger, you'll see.
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RandyKnight said: ↑

Ace, there is no free market any longer...Major interest rates and money printing have been dictated too strongly by the Federal Reverse for the last 4 years and NOW the FOMC is in total confusion of what to do...

Bernanke says he knows how to unwind it all but he wants to resign at the end of his term in one more year....he is printing 80 billion a month now and the Govt is borrowing 100 billion a month.

Interest rates are at basically 0% for the Banks...

The President is now beginning to talk compromise with yet another patch for maybe a year but all that does is the Kick The Can and leaves business with more uncertainty.
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RandyKnight said: ↑

What is going on is just beginning...

When Your President is finished printing 4 trillion more in funny money it is going to get really nasty...

It is not the govt place to do anything....it is the people place to go after the changes that are happening...

Things have being changing for 40 years and every time something in the economy that I was in fucked up I headed in a different direction that was working...
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acook02 said: ↑

Wow!

So opposed to that lets just keep spending money we don't have. Lets blow the bubble a little bigger by printing more money. All bubbles pop! When this one does the housing bubble will look like a blip on the radar! This one will be catastrophic!
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power123 said: ↑

Shouldn't be that long. Already other countries are talking about dumping the dollar. Inflation is rising sharply. The U.S. has to borrow more than they take in. The only thing that keeps the U.S. going is our military and our printing presses. We keep printing more money without anything backing it and using our military to enforce our ideas.
Our middle class has dropped out of first place. Our economy will loose its place as the largest in the world. We have lost most of our manufacturing and becoming a service industry country. Most of the jobs available are minimum wage. Our military budget is unbelievable and is only getting larger.
The rest of the world will feel it when the U.S. finally has to admit they are bankrupt. The people in the U.S. will feel it much more.
There is no hope of changing the direction we are going, it is only a matter of time.
Anyone want to bet which country will be the first to call in the debt the U.S. owes them? It will only take one. Then it will be a run on the bank. Countries will try to be close to the first to call their debt thinking they might get ten cents on the dollar. They are dreaming.
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power123 said: ↑

Sounds sort of like what is happening in the U.S. today. Is Russia running their presses overtime printing money or borrowing money from any country that will still loan them money? If not their country is in better shape than we are.
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ace's n 8's said: ↑

YES,, the federal government prints money, they have been printing billions lately., but that is not what he is talking about.
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M4MPetCock said: ↑

It's fairly common knowledge that the Fed has been artificially propping up the markets via the printing presses.

Stock Markets: Why They’ve Moved Beyond Reality

5/27/15

Stock markets are soaring. The S&P 500 is at all-time highs. Other key stock indices across the globe are rising. With this, we hear the mainstream and politicians telling us that this is happening because overall global economic conditions are improving.
If this is the case, why do the economic data tell me the opposite? In my opinion, as a student of the markets for over 30 years, the only factor holding up the global economy is the massive amount of money printing. Take that away and global growth will plunge.

Yes, money printing by the Federal Reserve has stopped now ($4.0 trillion later), but it prevails across the globe as other major central banks continue to print.

Proof of Federal Reserve Stock Market Manipulation[/url=

5/29/2015

The fact that the U.S. banking system is awash with $2.6 trillion in excess reserves points to nothing more than U.S. Federal Reserve stock market manipulation.
Former Fed Chairman Ben Bernanke has always extolled the virtues of extravagant bond-buying schemes as a way to loosen interest rate pressures and goose a slow-moving economy.

For most of the Fed's 100-year history, the growth of reserves in the banking system was flat – at least relative to the relentless surge Bernanke's tenure brought with it.

Excess reserves totaled $1.5 billion in February 2006 when Bernanke stepped in as chairman.

He left in February 2014. At that point they had grown to $2.5 trillion – a more than 160,000% increase!

To say it's "unprecedented" falls short of capturing just how much this central bank intervention turned the Federal Reserve's traditional role on its head.

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M4MPetCock said: ↑

Woops. I think you misread. I was talking the national debt as in, "Sure the stock market is up, but it's being propped up by the money the government is borrowing (and printing) and loaning out for next to nothing."
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M4MPetCock said: ↑

Actually, my bad for the terminology. I'm talking the Federal Debt (I kept saying "national", but meant the Federal Govt's debt), the $18 trillion that keeps growing...and growing. Not talking corporate debt at all. Basically, I'm saying "Does a decent stock market under a Democrat administration mean that much when the Federal Debt under that same Democrat is growing wildly?"
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acook02 said: ↑

The general welfare clause doesn't grant the federal government the authority to wrecklessley spend money any way it sees fit. The power to care for the general welfare of the people is left to the states in the 10th amendment. Article 1, section 8 lays out how congress can spend money. Progressives have perverted the meaning of the general welfare clause, and taken it completely out of context. I'm 100% positive by general welfare the founders didn't mean a cell phone, cable tv, fridge full of groceries, and a new car in the driveway.
To the point of the economy better under democrats it's sure not under Obama, unless you take his claims at face value. Wages are stagnant, work force participation is a joke, the real unemployment number is through the roof, we have a record number of people on welfare, the fed is pumping billions of dollars into the economy doing nothing but propping up Wall Street, and the national debt has exploded. Somebody has got to stop this wreckless spending if it's not already to late. The path we are on is unsustainable! I don't care how much you tax the rich!! Continually spending more than you take in, and printing money as fast as you can will only work for so long. Obama may have already taken us so far over the cliff that we can't return. Only time will tell.
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And now let's look at what is going today.

Trump goes berserk on Twitter as he lashes out at his own Fed chair and then attacks ‘selfish’ Democrats

President Donald Trump just declared war on the man he personally picked to head the Federal Reserve. The President is furious that one in three economists are predicting recession by the end of the year, and many believe the U.S. will plunge into a recession within the next 6 to 12 months.

At the top of the list of causes for the Trump recession is the president’s trade war with China, which he said a year ago was easy to win.

Trade wars are not easy to win, and Trump’s lack of understanding of the international economy is harming Americans and people worldwide.

So, as he has been doing for months, late Monday morning the President blasted Jerome Powell, the Chairman of the Federal Reserve – which is supposed to be a wholly independent agency. Some economists believe the Fed’s policies have helped slow economic growth, but it is Trump who is to blame for the possible impending recession.

But this time Trump went nuclear, declaring war on the Federal Reserve Chairman, in a tweet.

The President blasted what he called Powell’s “horrendous lack of vision,” while claiming Democrats are trying to (as if it were even possible) “will” the economy into recession.

Trump also called for the Fed to massively cut interest rates, which would steal a critical tool the Fed uses when facing dire economic crises.

One Washington Post Economics Correspondent noted the same:

Heather Long ✔ @byHeatherLong

Need more evidence President Trump is worried about the economy?

He's calling on Fed to use the tools it normally uses during a recession:
1) A full percentage point cut in interest rates (from 2.25% to 1.25%)
2) Quantitative easing = Fed buying bonds to pump money into economy https://twitter.com/realDonaldTrump/status/1163472273388576768 …

Donald J. Trump ✔ @realDonaldTrump

Replying to @realDonaldTrump
.....The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well. If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!

156
9:39 AM - Aug 19, 2019
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https://www.rawstory.com/2019/08/tr...fed-chair-and-then-attacks-selfish-democrats/

The lie of conservatism as it is preached and practiced in this nation.

stumbler · Aug 26, 2019

‘Trumponomics has utterly failed’: Paul Krugman details why the GOP’s economic worldview has collapsed

It’s often taken for granted that, whatever else you might say about President Donald Trump, he has at least been good for the U.S. economy. That, many argue, is the fact that may lead to his re-election in 2020.

Except this uncritically accepted pearl of conventional wisdom is quite dubious, as many experts in economics would tell you.

One of those experts, Trump-appointed Fed Chair Jerome Powell, even announced a cut to interest rates this week in light of weak business investment in the economy and the uncertainty caused by the president’s trade wars.

Another expert is economist Paul Krugman, who wrote in a new piece for the New York Times Thursday: “Obviously Powell couldn’t say in so many words that Trumponomics has been a big flop, but that was the subtext of his remarks. And Trump’s frantic efforts to bully the Fed into bigger cuts are an implicit admission of the same thing.”

He noted that the economy has actually been kept afloat somewhat by something the Republican Party says it hates: deficit spending. But the party’s promises of an economic resurgence under Trump are falling apart.

Start with the 2017 GOP Tax Cuts and Jobs Act.

“Republican faith in the magic of tax cuts — and, correspondingly, belief that tax increases will doom the economy — is the ultimate policy zombie, a view that should have been killed by evidence decades ago but keeps shambling along, eating G.O.P. brains,” he said. “The record is actually awesomely consistent.”

Krugman continued:

Bill Clinton’s tax hike didn’t cause a depression, George W. Bush’s tax cuts didn’t deliver a boom, Jerry Brown’s California tax increase wasn’t “economic suicide,” Sam Brownback’s Kansas tax-cut “experiment” (his term) was a failure.

Nevertheless, Republicans persist. This time around, the centerpiece of the tax cut was a huge break for corporations, which was supposed to induce companies to bring back the money they’ve invested overseas and put the money to work here. Instead, they basically used the tax savings to buy back their own stock.

And on the trade front, Trump’s tariffs — which the GOP has grudging if pathetically accepted — aren’t doing much for the economy, despite the president’s claims.

“And there’s a good case to be made that Trump’s tariffs have actually hurt U.S. manufacturing. For one thing, many of them have hit ‘intermediate goods,’ that is, stuff American companies use in their production processes, so the tariffs have raised costs,” Krugman wrote. “Beyond that, the uncertainty created by Trump’s policy by whim — nobody knows what he’ll hit next — has surely deterred investment.”

Thankfully, he noted, “while Trumponomics has utterly failed to deliver on its promises, it’s not bad enough to do enormous damage.”

Krugman concluded that, given Trump’s failures on the economic front, the president will likely run for re-election on racism.

But it’s worth being really clear about this. If, as Krugman and others have argued, Trump’s economic success is illusory, what’s the GOP case for keeping him in office?

His views on immigration? Unpopular. His views on health care? Unpopular. His views on abortion? Unpopular. His foreign policy? Unpopular.

The president doesn’t have a lot going for him. Unemployment is low, and the economy is growing at a decent pace, so he will scream from the rooftops that he’s a policy genius. But when it comes down to it, there’s really not much reason for the American people to keep him around.
Click to expand...

https://www.rawstory.com/2019/08/tr...hy-the-gops-economic-worldview-has-collapsed/

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