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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's trillion-dollar-plus deficits are putting America on a path to fiscal ruin
Though no one in Washington will admit it, our nation's finances are in deep trouble. Spending is up, revenues are down, and this will only get worse.Stan Collender, Opinion contributor Published 6:00 a.m. ET Aug. 20, 2018
It happened when the U.S. Treasury, the official keeper of Washingtons financial results, issued its monthly statement for the first 10 months of fiscal 2018 about federal revenues and spending and, therefore, the budget deficit.
Treasury showed what no president ever wants to admit: the deficit is spiking. The federal governments red ink this year is already 21 percent above what it was in 2017 and there are few prospects that the bottom line will improve anytime soon.
Except with infrequent and unsubstantiated platitudes about how the situation is going to get better, the Trump White House and Republicans in Congress have been doing everything possible not to talk about the budget this year. To avoid tough questions and politically embarrassing votes, the House and Senate have even refused to consider a budget even though they are required by law to adopt one.
But this year isnt the real issue.
Trump's deficits are permanent
https://www.usatoday.com/story/opinion/2018/08/20/donald-trump-trillion-dollar-plus-deficits-fiscal-ruin-column/986236002/
democratisphere
(17,235 posts)COLGATE4
(14,732 posts)when Democrats control the government.
workinclasszero
(28,270 posts)The democrats elected to clean up the mess will be blamed for it just like Bush Jr mess and Obama's clean up!
And then the scumball right wing will do it again!!!
lame54
(35,292 posts)NCTraveler
(30,481 posts)People like Bannon believe this has to happen. This is more a part of the plan than people think.
workinclasszero
(28,270 posts)I'm sure a Great Depression 2 would greatly assist the forces of fascism into power here and worldwide also.
GeorgeGist
(25,321 posts)uponit7771
(90,346 posts)Johnny2X2X
(19,066 posts)The economy is doing quite well, running $Trillion deficits in this economy is insane. When the recession hits (Next year or early 2020 at the latest), this deficit is going to explode further and the country will indeed be in a crisis.
What's terrifying is that the social safety net is being gutted while fewer need it because the economy is going well. When the economy falters, millions will need the help that is no longer available. We're going to be looking at food riots. It's going to get really bad in this country, when people cannot feed their families they get desperate and will resort to violence.
roamer65
(36,745 posts)Then the fat lady will really start to sing.
Scurrilous
(38,687 posts)jalan48
(13,869 posts)PatSeg
(47,482 posts)it was relatively organized and deliberate. With Trump, everything is random and reckless, depending on what he saw on cable news five minutes ago.
sarcasmo
(23,968 posts)Achilleaze
(15,543 posts)they are a triple threat to America