Posted by cccp1014 on 5/4/2018 8:24:00 AM (view original):

Posted by The Taint on 5/4/2018 12:08:00 AM (view original):
I wouldn't expect either of you to understand the problems that occur with extreme income inequality..by the way ours is worse than many 3rd world nations. Neither of you are exactly bright with finance smarts.


CCCPtape doesn't even know the difference between a tax deduction and tax credit, so I'm not surprised on that end. All3 is just a dumbfuck, so there's no surprise there either really.

That is because we have uber wealthy but our poor is also not as bad as 3rd world poor. And I explained my error. You are to stupid to understand why I made it. You are not a bad dude but you are a sanctimonious know it all ***** too.

You should hear what my wife calls me.....and the only reason you recognize it is because you are much the same.

Anyway, it's Cinco de Quatro, time to go get paid to drink beer and tequila, eat tacos, and tour with a Mariachi band all day. Have fun guys.

Posted by The Taint on 5/4/2018 9:39:00 AM (view original):

Posted by cccp1014 on 5/4/2018 8:24:00 AM (view original):

Posted by The Taint on 5/4/2018 12:08:00 AM (view original):
I wouldn't expect either of you to understand the problems that occur with extreme income inequality..by the way ours is worse than many 3rd world nations. Neither of you are exactly bright with finance smarts.


CCCPtape doesn't even know the difference between a tax deduction and tax credit, so I'm not surprised on that end. All3 is just a dumbfuck, so there's no surprise there either really.

That is because we have uber wealthy but our poor is also not as bad as 3rd world poor. And I explained my error. You are to stupid to understand why I made it. You are not a bad dude but you are a sanctimonious know it all ***** too.

You should hear what my wife calls me.....and the only reason you recognize it is because you are much the same.

No. I would not beat a dead horse non stop like you do with the tax credit error that I clearly explained. Only a complete *** hole would do that. Aka you and bad luck. Nice company you pick.

You want more wage equality and I do as well. But you are on the same playing field as that idiot, tangplay, so your logic at best is flawed.

Aww. Don't compare Taint to me! He must be furious!

That is the point.

I'm spending all my extra money.

The fiscal outlook for the United States "is not good," according to Goldman Sachs, and could pose a threat to the country's economic security during the next recession.

According to forecasts from the bank's chief economist, the federal deficit will increase from $825 billion (or 4.1% of gross domestic product) to $1.25 trillion (5.5% of GDP) by 2021. And by 2028, the bank expects the number to balloon to $2.05 trillion (7% of GDP).

"An expanding deficit and debt level is likely to put upward pressure on interest rates, expanding the deficit further," Jan Hatzius — Goldman's chief economist — wrote Sunday. "While we do not believe that the U.S. faces a risk to its ability to borrow or repay, the rising debt level could nevertheless have three consequences long before debt sustainability becomes a major obstacle."

Legislators passed a package of corporate and individual tax cuts in December, a two-year budget deal in February and a massive spending bill in March that boosted government expenditures on both domestic and military programs.

In light of the big spending and easier tax burden, the Congressional Budget Office – Capitol Hill's nonpartisan financial scorekeeper – in April projected that debt could equal GDP within a decade if Congress extends the tax cuts, a level not seen since World War II.

Economic growth should jump above 3 percent in 2018 thanks to the stimuli, the CBO said, but the acceleration will likely prove brief and debt held by the public will soar to $28.7 trillion by the end of fiscal 2028.

That could create a precarious situation for Congress if the economy faces an economic downturn in the near term, Hatzius wrote, hampering legislators' ability provide additional fiscal stimulus in times of economic downturn.

"Lawmakers might hesitate to approve fiscal stimulus in the next downturn in light of the already substantial budget deficit," the economist said. "While we would expect some additional loosening of fiscal policy during the next downturn, there is a good chance in our view that it would be less aggressive than it was in the last few recessions."

But even if the debt and deficit levels don't prevent lawmakers from approving countercyclical fiscal stimulus during the next recession, a political desire to stabilize the debt level would likely arrest growth during the next recovery, the Goldman team explained.

"The current fiscal expansion ... must at some point give way not just to a neutral stance, which we expect by 2020, but to a tightening of fiscal policy that could restrict growth," Hatzius wrote.

naw, what you do is, like a banana republic, not pay the debt

unlike a banana republic, we got nukes

let em try and collect it

The folks holding the debt got em also....

they're not capitalists

when push comes to shove we throw the brick through the plate glass

Well, we are the only country dumb enough to explode a nuke..so you may be right.


In other news, Mike Pompeo is a ******* moron.

Posted by The Taint on 5/21/2018 9:06:00 PM (view original):

The fiscal outlook for the United States "is not good," according to Goldman Sachs, and could pose a threat to the country's economic security during the next recession.

According to forecasts from the bank's chief economist, the federal deficit will increase from $825 billion (or 4.1% of gross domestic product) to $1.25 trillion (5.5% of GDP) by 2021. And by 2028, the bank expects the number to balloon to $2.05 trillion (7% of GDP).

"An expanding deficit and debt level is likely to put upward pressure on interest rates, expanding the deficit further," Jan Hatzius — Goldman's chief economist — wrote Sunday. "While we do not believe that the U.S. faces a risk to its ability to borrow or repay, the rising debt level could nevertheless have three consequences long before debt sustainability becomes a major obstacle."

Legislators passed a package of corporate and individual tax cuts in December, a two-year budget deal in February and a massive spending bill in March that boosted government expenditures on both domestic and military programs.

In light of the big spending and easier tax burden, the Congressional Budget Office – Capitol Hill's nonpartisan financial scorekeeper – in April projected that debt could equal GDP within a decade if Congress extends the tax cuts, a level not seen since World War II.

Economic growth should jump above 3 percent in 2018 thanks to the stimuli, the CBO said, but the acceleration will likely prove brief and debt held by the public will soar to $28.7 trillion by the end of fiscal 2028.

That could create a precarious situation for Congress if the economy faces an economic downturn in the near term, Hatzius wrote, hampering legislators' ability provide additional fiscal stimulus in times of economic downturn.

"Lawmakers might hesitate to approve fiscal stimulus in the next downturn in light of the already substantial budget deficit," the economist said. "While we would expect some additional loosening of fiscal policy during the next downturn, there is a good chance in our view that it would be less aggressive than it was in the last few recessions."

But even if the debt and deficit levels don't prevent lawmakers from approving countercyclical fiscal stimulus during the next recession, a political desire to stabilize the debt level would likely arrest growth during the next recovery, the Goldman team explained.

"The current fiscal expansion ... must at some point give way not just to a neutral stance, which we expect by 2020, but to a tightening of fiscal policy that could restrict growth," Hatzius wrote.

https://www.newyorkfed.org/newsevents/speeches/2018/dud180111

I think entitlements MUST be addressed. DJT has only been in office a short while so he gets a mulligan but the prior two administrations dropped the ball there 100%.