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Started By
Message
Federal budget balance leaked
Posted on 9/12/24 at 6:26 am
Posted on 9/12/24 at 6:26 am
4
Posted on 9/12/24 at 6:46 am to boomtown143
Money will be toilet paper in about 20 years
Posted on 9/12/24 at 6:52 am to HailToTheChiz
Yep, we had a good thing and big government has ruined it.
Shame on us.
Shame on us.
Posted on 9/12/24 at 9:04 am to boomtown143
If the number is false, the federal government has spent just over $1.1T in deficit spending from March - July. If the number is correct, the federal government has spent just under $1.5T in deficit from March - August.
If this pattern holds true (and knowing the federal government, it likely will), deficit spending will easily exceed the $1.8T projection (by around an extra $1T).
But, hey... rate cuts because inflation has been tamed, right?
If this pattern holds true (and knowing the federal government, it likely will), deficit spending will easily exceed the $1.8T projection (by around an extra $1T).
But, hey... rate cuts because inflation has been tamed, right?
This post was edited on 9/12/24 at 9:05 am
Posted on 9/12/24 at 9:20 am to Bard
quote:
If the number is false, the federal government has spent just over $1.1T in deficit spending from March - July. If the number is correct, the federal government has spent just under $1.5T in deficit from March - August.
If this pattern holds true (and knowing the federal government, it likely will), deficit spending will easily exceed the $1.8T projection (by around an extra $1T).
But, hey... rate cuts because inflation has been tamed, right?
Nothing stops this train.
Posted on 9/12/24 at 9:57 am to Art Blakey
quote:
Nothing stops this train.
Next stops: Recession Street, then Stagflation Station. If spending brakes aren't put on by then...
Posted on 9/12/24 at 10:17 am to Bard
Next stop will be an “ism”. The debts will ultimately get cleared through imperialism or communism.
Posted on 9/12/24 at 10:49 am to Bard
quote:
If spending brakes aren't put on by then...
Spending will be increased dramatically by then. That's what I mean by nothing stops this train. The train is dependent on spending acceleration, slowing it down at this stage isn't an option.
Posted on 9/12/24 at 10:53 am to boomtown143
Who cares at this point? Why even have a budget.
Posted on 9/12/24 at 10:57 am to BabyTac
quote:
Who cares at this point? Why even have a budget.
Which is where the MMT philosophy leads. They believe you just use taxation to balance out spending and somehow consumers will keep endowing the currency with value (when they've essentially made it value-less).
A long time ago I said it wouldn't surprise me to see Congress begin to adopt the MMT philosophy if only so they could feel like they were justified in continued deficit spending and not paying down the debt. At this rate, we may be within a few years of seeing that push begin.
Posted on 9/12/24 at 11:04 am to Bard
quote:
Which is where the MMT philosophy leads. They believe you just use taxation to balance out spending and somehow consumers will keep endowing the currency with value (when they've essentially made it value-less).
A long time ago I said it wouldn't surprise me to see Congress begin to adopt the MMT philosophy if only so they could feel like they were justified in continued deficit spending and not paying down the debt. At this rate, we may be within a few years of seeing that push begin.
Yup. That is the natural evolution of Keynesian economics imo, a rapid acceleration into an MMT fueled inferno.
Posted on 9/14/24 at 12:44 pm to Art Blakey
quote:
Nothing stops this train.
What is your strategy to weather the eventual economic reckoning that is coming?
Posted on 9/14/24 at 3:44 pm to Warfox
quote:buy more ammo
What is your strategy to weather the eventual economic reckoning that is coming?
Posted on 9/15/24 at 6:45 am to Warfox
quote:
What is your strategy to weather the eventual economic reckoning that is coming?
Long hard assets, short govt paper.
Posted on 9/15/24 at 7:47 am to Art Blakey
quote:
Long hard assets, short govt paper.
Thanks.
And Supersaint troll or not, it’s true - and a huge number of Protestant churches are in on it to, I know because my father is connected in to some of them. It’s literally tens of millions of illegals.
Posted on 9/15/24 at 8:11 pm to SuperSaint
I firmly believe that the Catholic Charities and other religion-based charities are being paid a fortune by our government to facilitate the immigrant invasion. Those charities are not doing this entirely with their own money.
Posted on 9/16/24 at 12:02 am to 2BRKnot
Wyoming and Mississippi look like free America on that map.
Wyoming wind and winters suck, so I’ll stick to Mississippi despite the Africa hot summers and local nativery.
Wyoming wind and winters suck, so I’ll stick to Mississippi despite the Africa hot summers and local nativery.
Posted on 9/16/24 at 4:02 am to LeeeroyJenkins
I wonder if the current governor can do anything about New Orleans and Baton Rouge?
Posted on 9/16/24 at 6:03 am to boomtown143
Govt needs a budget and cannot exceed it, and the budget needs to be about 50% of what it is now.
Posted on 9/16/24 at 8:42 am to kywildcatfanone
quote:
Govt needs a budget and cannot exceed it, and the budget needs to be about 50% of what it is now.
LINK
Curious what 50% of that^ you would chop.
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