U.S. posts another budget deficit as tax revenues sag

[DonViejo]

Source: Reuters



FEBRUARY 13, 2019 / 2:13 PM / UPDATED 44 MINUTES AGO

2 MIN READ

WASHINGTON (Reuters) - The U.S. federal government ran a $14 billion budget deficit in December as revenues sagged following last year’s tax cuts even as the economy appeared strong, Treasury Department data showed on Wednesday.

Analysts polled by Reuters had expected an $11 billion deficit for the month and the gap was the latest sign of deterioration in the government’s fiscal position.

A strong U.S. job market has appeared to power economic growth this year, an economic setting that tends to help fiscal revenues. Economists suspect some of the economic strength draws from tax cuts that came into effect at the beginning of 2018.

But Washington’s accounts have run $319 billion into the red since the fiscal year began in October, compared to a $225 billion deficit over the same period a year earlier.

Read more: https://www.reuters.com/article/us-usa-economy-budget/us-posts-another-budget-deficit-as-tax-revenues-sag-idUSKCN1Q22L2

[guillaumeb]

1. A debt driven bubble economy.

Now where have we seen that before?

[ffr]

10. Debt expensed $1.1 - $1.5T. Economy grew $700B. Someone made off with $400B.

[guillaumeb]

13. Indeed.

I will guess that it might have been the top 1% of the top 1%.

[IronLionZion]

2. They'll solve this problem with more tax cuts

and invest in important things like defense and a border wall.

Watch them cut benefits down to a draconian level real soon. Or they'll wait until we have a Dem president and then start wailing 24/7 about the debt is destroying our economy.

[turbinetree]

3. Tax the rich..........................repeal the 1.5 trillion tax scam..............................

[Owl]

11. Yes!

[crazytown]

4. The Art of the Steal

Moscow Mitch : Trump's First Year Was 'Best One for Conservatives' Since I've Been in Senate.

Read: The Best ever year for robbing working people.

[hedda_foil]

5. No one could have known....

SS Trumptanic

[Achilleaze]

6. republicans are trashing America's finances

And then the lie and claim they are "conservatives"

republicans are radical financial whackdoodles, as everyone can see.

[groundloop]

7. SO.... I'm paying significantly more this year and the deficit is still growing ?!?!?!?!?!

Gee, how can that be?

I'd hope that a few more folks will wake up and realize that the repub tax giveaway for the wealthiest Americans is a huge scam to transfer wealth from working people to the rich.

[progree]

8. "Washington collected nearly $900 billion less than it spent in the 2018 calendar year"

up is good, down is bad



up is good, down is bad

both from the OP's linked article

[Marcuse]

9. Reagan/Bush spent the rest of their careers raising taxes.

[Rebl2]

12. Gosh

I wonder why this could be-hummmmmmmm