Tag Archives: Budget Deficit


Trump Administration’s Deficit Forecast Is Waaaaay Off

$9.5 trillion

“The Congressional Budget Office estimates the government will take in $1.9 trillion less in revenue and spend $300 billion more over the next decade than the White House estimated under its latest budget proposal if the plan were enacted,” the Wall Street Journal reports. “Deficits would total $9.5 trillion over the coming decade, or $2.3 trillion more than the White House estimates.”

Poetic Justice

The Great Reneger

We know Donald Trump’s all bluster and swagger,
And his administration is just an unnatural disaster.
But now he wants back in to the TPP
And to roll back the GOP’s spending spree,
At this rate his lasting legacy will be as The Great Reneger.

Poetic Justice

Not So Funny

Trump’s budget, by human compassion, is unencumbered.
As usual, for the poor and working class, it’s a bummer.
And that ballooning deficit?
Our grandkids will pay for it,
Though Mick Mulvaney says he could have balanced it using “funny numbers.”


Mulvaney Says He Could Have Balanced the Budget Using ‘Funny Numbers’

“I probably could’ve made it balance. But you all would’ve rightly absolutely excoriated us for using funny numbers to do it.”

— Budget director Mick Mulvaney, quoted by the Wall Street Journal, on the Trump administration’s budget proposal.


Senate Tax Bill to Add $1 Trillion to Deficit

$1 trillion

“Congress’ nonpartisan tax analysts have concluded the Senate Republicans’ tax plan would add $1 trillion to the deficit over 10 years, contradicting White House promises the bill would pay for itself and complicating GOP leaders’ efforts to find the support they need to pass the bill through a closely divided Senate,” the Washington Post reports.


The Trump Tax Plan’s Deficit Problem

$1.7 trillion

CNBC: “The GOP bill including some changes would increase federal budget deficits by $1.7 trillion over 10 years, according to Joint Committee on Taxation estimates shared by the nonpartisan Congressional Budget Office. That includes money for additional debt service payments due to the bill. … Under budget rules congressional Republicans are using to pass a tax plan, the bill can only increase deficits by $1.5 trillion over 10 years, before growth is taken into account.”


The Price of Ducks


Amount in tax breaks allowed for every episode of “Duck Dynasty” taped in Louisiana, even as Gov. Bobby Jindal (R) tries to close a $1.6 billion budget hole, the Baton Rouge Advocate reports. “The A&E television reality show takes part in the nation’s most generous entertainment-tax credit program. Jindal is proposing no changes, arguing that reducing such breaks is tantamount to raising taxes.”


2013 Budget Deficit Drops Dramatically

$680 billion

The fiscal year’s federal budget deficit, which fell more sharply than in any year since the end of World War II. The Treasury Department reported Thursday that the “deficit for 2013 dropped to $680 billion, from about $1.1 trillion the previous year,” the New York Times reports. “In nominal terms, that is the smallest deficit since 2008, and signals the end of a five-year stretch beginning with the onset of the recession when the country’s fiscal gap came in at more than $1 trillion each year. As a share of the nation’s economy, the budget deficit fell to about 4.1 percent, from a high of more than 10 percent during the depths of the Great Recession.”


New Bowles-Simpson Budget Would Trim $2.4 Trillion Over 10 Years

$2.4 trillion

Amount Erskine Bowles’ and Alan Simpson’s proposed new budget framework would cut the country’s debt over the next decade, CNN reports.


Sarah Palin Calls Obama ‘Sugar Daddy’

The Sugar Daddy has run out of sugar.

— Polebrity Sarah Palin, writing on Facebook, on President Obama’s economic policies, ignoring the fact that it is her team that keeps walking away from the negotiating table.