FROM THE WEB SITE OF THE CRYPTO SCAMMER WHO PARROTS MAGA PROPOGANDA
BECAUSE HE'S TOO LAZY TO INFORM HIMSELF....HAVING ONLY VOTED 3 TIMES IN
20 YEARS, HE WASN'T PAYING ATTENTION!
THE CRYPTO SCAMMER IS NOT AN ECONOMIST....YOU DON'T BEGIN BY EMBRACING THE PROJECT 2025 PRICE SLASHING!
YOU BEGIN BY ADDRESSING THINGS SUCH AS THE WEALTHY TAX CHEATS THAT THE IRS IS AUDITING....REPUBLICANS ARE KICKING & SCREAMING ABOUT SLASHING THE IRS BUDGET TO PROTECT THE WEALTHY....
IRS Reclaims $1.3 Billion in Back Taxes from Wealthy Americans – Is This Just the Beginning?
MSN WEALTHY TAX CHEATS
INFLATION & DEBT
America faces a debt crisis. The U.S. Government is $34 trillion in debt, while personal credit card debt has crossed over $1 trillion for the first time. Almost 40% of Americans don’t have $500 dollars in case of an emergency and student loan debt stands at over $1.6 trillion. The U.S. now spends more money servicing its debt than it does on National Defense. The interest payment alone on our Debt is $1 trillion. It is simply unsustainable, yet career politicians, like Elizabeth Warren, continue to sacrifice future generations by saddling them with debt and excessive spending.
Spending in D.C. has grown to crisis levels, contributing to the worst runaway inflation crisis since the early 1980s. Inflation is a tax on working families, costing the average American family $1,069 more per month in the last three years. The poor and middle-class feel this pain the most. For too long, the federal government has been living well beyond its means – and Americans are feeling the consequences of politicians in D.C. running up the tab. In the Senate, I will vote to control the growth of government spending, and I will fight to eliminate wasteful and unnecessary pork-barrel spending.
THE CRYPTO SCAMMER was buried under a rock somewhere & ignored that President Clinton & VP Al Gore left office with surpluses into the future.
HEY CRYPTO! LOOK IT UP!
ONCE AGAIN, YOU'RE LYING & BLAMING SENATOR WARREN WHEN
IT WAS TRUMP WHO EXPLODED THE DEFICIT!
TRUMP'S TAX CUTS FOR THE WEALTHY & PROFITABLE CORPORATIONS AMONG OTHER ISSUES....
DEFICIT:
Trump's Big 'Win': The Largest Budget Deficit With A Strong Economy
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Federal deficits are one way to measure how well a President manages the economy. However, for a number of reasons a President can’t control the deficit; Congress is the governing body that decides the budgets (but the President does have to approve them), entitlement programs will grow unless they are changed and the economy goes through expansions and contractions (sometimes violently). A President can propose and get policies implemented that impact the budget and therefore deficits, but to a large degree, economic forces can overwhelm the best policies and intentions.
While most people tend to look at the amount of the deficit in billions (or even $1 trillion plus) of dollars, a better way to gauge it is to look at the deficit as a percentage of the nation’s GDP. This removes the impact of inflation on the government’s revenue and spending and makes for a better comparison.
Another factor in evaluating a President is the state of the economy as they enter office. The U.S. economy is a very large battleship whose direction is incredibly difficult to change in the short-term, so a President can have minimal impact in his first year or two in office. Timing on when a President starts their term also plays into the “results.”
One area that a President can have an immediate impact is changing the tax laws, which have a direct impact on the government’s revenues, either up or down. As seen in President Trump’s tax bill, there has been a fairly sizable reduction in corporate tax receipts, which negatively impacted the deficit in fiscal 2018 and the first three months of fiscal 2019.
Trump will break the record
When you take into account how the economy is doing it shows that President Trump’s budget deficits as a percentage of GDP will exceed any other President’s during a time of economic expansion. From the Committee for a Responsible Federal Budget or CFRB, the chart’s blue line shows the deficit as a percentage of GDP. At the projected 4.6% for fiscal 2019 it will the be largest in a non-recession year and is expected to stay above this level in the future.
And the red line shows that it will only be worse if the 2017 tax cuts that are scheduled to expire for individuals and the increased 2018 discretionary spending caps are extended.
Obama had to navigate the Great Recession
When President Obama entered office the economy was in a free fall. The deficit hit 9.8% in fiscal 2009 but that was directly related to the Great Recession. As can be seen in the durable goods orders and housing charts below, they fell dramatically and bottomed just after Obama became President.
This led to much lower tax revenue (2.4% of GDP per the CFRB) as people were laid off and companies made less money or even had losses. It also created higher spending (2.9% of GDP) for programs such as unemployment and food stamps.
Trump’s deficit will increase even as the economy grows
Multiple organizations ranging from the Congressional Budget Office to the Committee for a Responsible Federal Budget are projecting that the Federal deficit will increase even as the economy grows. Their projections are for it to increase less in 2019 than 2018, but still have many years of growth even though the current economic expansion is about to hit a decade.
The scary thing is if the economy stumbles and growth slows more than expected or enters a recession, the deficit will increase even more than what the chart shows. Unfortunately, the Shutdown will only add to the budget deficit this year as it negatively impacts the economy. Tariffs will have a positive impact on the government’s receipts but these are really a hidden tax on consumers and corporations.
Trump seems to believe (or at least that is what he says and his advisors have told him) that reducing taxes and cutting regulations will grow the economy enough to solve the debt problem. Stephen Moore from the Heritage Foundation and Larry Kudlow, Trump’s Director of the National Economic Council, are two proponents. Unfortunately, in the first year of the tax cuts, the deficit increased from $666 billion in fiscal 2017 to $779 billion in fiscal 2018, an increase of $113 billion or 17%. It looks like they are on a path to $1 trillion or more as far as the eye can see.
While it will take a few years to play out it appears that the tax cuts gave the economy an initial boost in the June quarter but that it may have fallen off in the September and December quarters. If this trend continues it does not look like Trump will get close to the 6% growth he touted and the deficits will swell.
The following articles provide information about:
Why Trump and Republican’s have gone radio silent on GDP growth,
How much Trump’s tariffs are impacting consumers and corporations,
His freezing federal wages saves less than the Wall,
Three surveys show plummeting confidence in the economy,
How China could be taking advantage of Trump in trade negotiations and
I provide independent research of technology companies and was previously one of two analysts that determined the
...U.S. Federal Debt by President / Political Party
Jury orders egg suppliers to pay $17.7 million in damages for price gouging in 2000s
HOW STUPID OR LAZY DO YOU HAVE TO BE TO BELIEVE FOX NEWS = FAKE NEWS LIARS? ENERGY LIES!
SHARING FOX NEWS = FAKE NEWS LIARS SIMPLY DUE TO STUPIDITY!
BRAIN DEAD RICK PERRY was appointed by the IGNORANT BOOB in the WHITE HOUSE
appointed to the ENERGY COMMISSION...preceded by 2 NUCLEAR PHYSICISTS - one a
NOBEL PRIZE WINNER....
FOX NEWS = FAKE NEWS LIARS:
BRAIN DEAD Former Texas Gov. Rick Perry discusses oil companies on BLEACH BLOND DIM WIT'S ‘Maria Bartiromo’s Wall Street’....
The US is producing record amounts of OIL that ill-informed FAUX viewers would know if they looked it up. Prices are high due to REPUBLICAN PRICE FIXING....look it up from CREDIBLE SOURCES
FOX NEWS = FAKE NEWS LIARS! FOX NEWS LIARS: Thank you for protecting your DISINFORMATION reputation! IF YOU WANT TO WHINE & COMPLAIN ABOUT GAS PRICES, READ THIS: excerpt: The majority leader ranks fourth among all House lawmakers in 2023-24 campaign contributions from oil and gas interests, according to the watchdog OpenSecrets. His $325,833 in Big Oil contributions trails only Rep. August Pfluger (R-Texas), who took $572,421; former House Speaker Kevin McCarthy (R-Calif.), who received $335,399; and House Speaker Mike Johnson (R-La.), who got $328,019. https://www.commondreams.org/news/big-oil-political-contributions?utm_source=Common+Dreams&utm_campaign=c2aedf9a6f-Top+News%3A+Tue.+6%2F4%2F24&utm_medium=email&utm_term=0_-3b949b3e19-%5BLIST_EMAIL_ID%5D
"R" voters refuse to inform themselves with FACTS that are readily available. https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php
BIG OIL PRICE FIXING: Tell the DOJ to Prosecute Big Oil STOP THE CORRUPTION!
PRESIDENT BIDEN NOMINATED ANTITRUST ADVOCATES &
PROVOKED WIDESPREAD OPPOSITION - WERE YOU PAYING
ATTENTION? AMERICAN CONSUMERS ARE BEING CHEATED
BY CORRUPT INDUSTRIES!
THESE CORRUPT COMPANIES ARE USING THEIR OUTRAGEOUS
PROFITS FOR STOCK BUYBACKS
PRESIDENT BIDEN PROPOSED A PENALTY FOR STOCK BUYBACKS
REPUBLICANS OPPOSED THOSE PENALTIES!
PROTECT YOUR $$$$ !
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BOUGHT & PAID FOR! LOUISIANA MAGA Scalise Took $40K in Campaign Cash From PAC of CEO Accused of Oil Price Rigging
U.S. House Majority Leader Steve Scalise received a $40,000 campaign donation from the political action committee of a Big Oil CEO who allegedly colluded with the Organization of Petroleum Exporting Countries to drive up energy prices, the watchdog Accountable.US noted Monday.
Scalise (R-La.)—who has made opposing efforts to protect public lands from fossil fuel drilling a top legislative priority—took the money from the Williams Companies PAC, whose board includes Pioneer Natural Resources CEO Scott Sheffield, who was accused last month by the U.S. Federal Trade Commission (FTC) of holding private conversations with the OPEC cartel in which he allegedly assured members that his company would throttle production, creating an artificial scarcity in a bid to boost oil prices.
The majority leader ranks fourth among all House lawmakers in 2023-24 campaign contributions from oil and gas interests, according to the watchdog OpenSecrets. His $325,833 in Big Oil contributions trails only Rep. August Pfluger (R-Texas), who took $572,421; former House Speaker Kevin McCarthy (R-Calif.), who received $335,399; and House Speaker Mike Johnson (R-La.), who got $328,019.
"If Congressman Scalise wants to protect American consumers he should start by holding accountable Big Oil price gougers."
"Big Oil CEOs are out for themselves and the politicians who support their quest to drill for profit at the expense of the American people," Accountable.US spokesperson Chris Marshall said in a statement Monday. "So if Congressman Scalise wants to protect American consumers he should start by holding accountable Big Oil price gougers."
The FTC alleges in a complaint that "Sheffield has, through public statements and private communications, attempted to collude with the representatives of [OPEC] and a related cartel of other oil-producing countries known as OPEC+ to reduce output of oil and gas, which would result in Americans paying higher prices at the pump, to inflate profits for his company."
The regulator subsequently barred Sheffield from joining the board of ExxonMobil, which bought Pioneer, over the alleged collusion.
"Mr. Sheffield's past conduct makes it crystal clear that he should be nowhere near Exxon's boardroom," FTC Bureau of Competition Deputy Director Kyle Mach said in a statement last month. "American consumers shouldn't pay unfair prices at the pump simply to pad a corporate executive's pocketbook."
Senate Majority Leader Chuck Schumer took to the upper chamber's floor Monday to reiterate his call for the U.S. Department of Justice (DOJ) to investigate Big Oil collusion and price fixing.
"It's not hard to feel the frustration—the sheer exasperation—felt by millions when America's biggest oil companies rake in record profits but still raise prices at the pump. It is deeply, deeply unfair—and now we have reason to believe that in some cases it may be unlawful," the senator said.
Schumer called the FTC allegations against Sheffield "very, very troubling."
"This is what frustrates Americans so much about Big Oil: Even when they're making money hand over fist they'll keep raising prices on us, they will keep squeezing us for everything we've got," he said. "And now they may—may—have crossed the line into unlawful behavior."
"So the DOJ needs to step in and determine if any laws against collusion or price-fixing have been broken," Schumer added. "At minimum, the American people deserve to know if Big Oil executives are conspiring with each other or with OPEC behind our backs to illegally raise prices at the pump."
Did you notice that President Biden bailed out Americans from that FIASCO?
Concentration in U.S. Meatpacking Industry and How It Affects Competition and Cattle Prices
USDA
Look up the potential of that merger, as well as KROGER'S PRICING SCAM!
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