Even by Trump’s standards, this year’s budget stands out for dishonesty

Dec 2006
26,297
11,377
New Haven, CT
#1
Even by Trump’s standards, this year’s budget stands out for dishonesty
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THE BEST that can be said for President Trump’s $4.75 trillion budget plan for fiscal 2020 is that it has no chance of becoming law. This is almost always true of presidential budgets, because ultimately Congress does the nitty-gritty work on spending legislation. Even by the standards of previous nonstarter White House blueprints, however, Mr. Trump’s effort this year stands out for dishonesty and warped priorities.

First, dishonesty. There is, to be sure, a smidgen of candor in the fact that the plan does not purport to balance the federal budget within the next decade, though it does suggest that balance may be achieved by 2034; so much for the pretense that growth sparked by the 2017 tax cuts will solve the United States’ fiscal problem. The budget claims instead that trillion-dollar annual deficits over the next three years will taper off thereafter, such that overall national debt will decline from 78 percent of gross domestic product today to 71 percent in 2029. However, it reaches that modest achievement for fiscal responsibility by projecting 3 percent growth through 2024 and near-3 percent growth thereafter. More realistic forecasts produce an estimated debt of 87 percent of GDP by 2029, according to the Center for a Responsible Federal Budget, a Washington think tank on fiscal issues.

Second, warped priorities. Such budgetary savings as Mr. Trump does claim to achieve over the next decade come disproportionately from domestic programs, including those targeted at the neediest people in our society. It adds work requirements — difficult to administer and sometimes counterproductive — to key safety-net programs such as Medicaid, housing assistance and food stamps. At a time when evidence of dangerous harm from climate change is mounting, the budget proposes to gut the Environmental Protection Agency, to the tune of a 31 percent cut in its budget next year. Defense comes in for a 5 percent increase, meanwhile, which might indeed be necessary — but which the president would achieve by invoking a special uncapped warfighting account, an obvious gimmick Congress won’t countenance.

There’s more: cuts to refugee assistance while asking $8.6 billion for a border wall; decreasing scientific research while freezing the maximum Pell Grant for low-income college students. Here and there, the Trump budget proposes valid reforms to expensive programs, such as its suggestion for “site-neutral” Medicare payments (i.e., similar fees for services either performed in a hospital or not), which the Obama administration also backed. But you get the picture. This is a document whose good ideas can’t get traction because its bad ones simply swamp them.

https://www.washingtonpost.com/opin...512a6fe3439_story.html?utm_term=.963efbb296ea

Well, this is about the best, concise, completely honest and realistic account of the fat orange turd Dear Bleater's budget I've read in two days - and I've read a lot.
I don't hear his cult members grumbling about his golden solemn promise to balance the budge within ten years going down the shitter. But, they don't seem to care about whether he lies or not.
 
Nov 2012
40,418
11,668
Lebanon, TN
#2
I am sorry that we can cut domesic spending since ~4,000,000 people no longer need welfare than in 2016....

I thought you wanted to cut the deficit, if you cut spending you cut the deficit.

BITCH BITCH BITCH TRUMP IS A DEFICIT MONGER.

NOW YOU BITCH BITCH BITCH BECASE HE IS FINDING PLACES TO CUT THE DEFICIT.

(IMO he should cut the spending across the board 1 penny on every dollar each of the next 5 years.) I know that would effect my Social Security benefits when I retire, and would effect Mrs. Volunteers since she has retired.
 
Dec 2018
941
565
Unionville Indiana
#3
I am sorry that we can cut domesic spending since ~4,000,000 people no longer need welfare than in 2016....

I thought you wanted to cut the deficit, if you cut spending you cut the deficit.

BITCH BITCH BITCH TRUMP IS A DEFICIT MONGER.

NOW YOU BITCH BITCH BITCH BECASE HE IS FINDING PLACES TO CUT THE DEFICIT.

(IMO he should cut the spending across the board 1 penny on every dollar each of the next 5 years.) I know that would effect my Social Security benefits when I retire, and would effect Mrs. Volunteers since she has retired.
When you exclude all military spending in the discretionary budget, there is not enough left to cut to make much difference.
 
Dec 2018
941
565
Unionville Indiana
#4
(IMO he should cut the spending across the board 1 penny on every dollar each of the next 5 years.) I know that would effect my Social Security benefits when I retire, and would effect Mrs. Volunteers since she has retired.
Guess what? Social Security has never added to the deficit. The Feds have been borrowing from its surplus for years to cover the tax cuts and Bush's war.
 
Likes: imaginethat
Dec 2018
941
565
Unionville Indiana
#6
Misleading RW propaganda from the Washington Times. Social Security has been a program the RW has wanted to strangle since the days of FDR. Its trust fund has been paying for tax cuts for those in the top income brackets and Bush's war for years.



What the 2018 Trustees’ Report Shows About Social Security


Social Security can pay full benefits for 16 more years, the trustees’ latest annual report shows, but will then face a significant, though manageable, funding shortfall.[1] Several key points emerge from the report:

  • The trustees estimate that, if policymakers take no further action, Social Security’s combined Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust fund reserves will be depleted in 2034 — the same as last year’s report.
  • After 2034, Social Security could still pay three-fourths of scheduled benefits using its tax income even if policymakers took no steps to shore up the program. Those who claim that Social Security won’t be around at all when today’s young adults retire and that young workers will receive no benefits either misunderstand or misrepresent the trustees’ projections.
  • The program’s shortfall amounts to 1 percent of gross domestic product (GDP) over the next 75 years (and about 1.5 percent of GDP in the 75th year).
  • The trustees project that the DI trust fund reserves will last through 2032 — four years later than in last year’s report — because of lower-than-expected applications for, and awards of, DI benefits. The number of DI beneficiaries has declined over the past several years as demographic and economic pressures on the program have eased, and the trustees project that the share of Americans receiving DI will remain stable in the coming decades. ...
 
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Likes: imaginethat
Nov 2012
40,418
11,668
Lebanon, TN
#7
Misleading RW propaganda from the Washington Times. Social Security has been a program the RW has wanted to strangle since the days of FDR. Its trust fund has been paying for tax cuts for those in the top income brackets and Bush's war for years.



What the 2018 Trustees’ Report Shows About Social Security


Social Security can pay full benefits for 16 more years, the trustees’ latest annual report shows, but will then face a significant, though manageable, funding shortfall.[1] Several key points emerge from the report:

  • The trustees estimate that, if policymakers take no further action, Social Security’s combined Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust fund reserves will be depleted in 2034 — the same as last year’s report.
  • After 2034, Social Security could still pay three-fourths of scheduled benefits using its tax income even if policymakers took no steps to shore up the program. Those who claim that Social Security won’t be around at all when today’s young adults retire and that young workers will receive no benefits either misunderstand or misrepresent the trustees’ projections.
  • The program’s shortfall amounts to 1 percent of gross domestic product (GDP) over the next 75 years (and about 1.5 percent of GDP in the 75th year).
  • The trustees project that the DI trust fund reserves will last through 2032 — four years later than in last year’s report — because of lower-than-expected applications for, and awards of, DI benefits. The number of DI beneficiaries has declined over the past several years as demographic and economic pressures on the program have eased, and the trustees project that the share of Americans receiving DI will remain stable in the coming decades. ...
IN 2010 SS added to the deficit.. as noted in Post #5.... It paid out more in benefits than in revenue collected by the payroll taxes.
 
Dec 2018
941
565
Unionville Indiana
#10
nope, SS was in the Red in 2010 that is why the GOP Congress passed a bill to fix the problem in 2011
Wrong again. From MarketWatch:

How likely is it that Social Security will go broke?


...The bottom line, according to Landis: The doom and gloomers notwithstanding, the Social Security system is not in crisis. Changes eventually will have to be made, but we’ve known that for decades.

Landis also took issue with those who argue that, far from the Social Security system running out of money in 2034, it is broke now. Those who make that argument point out that the much-vaunted Social Security trust fund of nearly $3 trillion doesn’t really exist—the money was deposited with the U.S. Treasury where it was long ago spent.

Landis responds that “of course” the Social Security Administration deposited its surplus with the U.S. Treasury, since it is required by law to purchase U.S. Treasury bonds with its surplus. And “of course” the U.S. Treasury has spent the proceeds of the bonds it sold.

But the same could be said of any bond. When you purchase a bond from a company, for example, it’s with the full expectation that the firm will use those proceeds rather than stuff them in a mattress. Landis therefore made the following offer to those who insist that the U.S. Treasury bonds purchased by the Social Security Administration are worthless: He would be happy to take off their hands the allegedly “worthless” government bonds that they own. ...