Budget deficit widens to 6-yr high
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Started by pj - Oct. 15, 2018, 6:48 p.m.

What a shock... not. https://tinyurl.com/ybsvn2n5

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By cfdr - Oct. 15, 2018, 10:18 p.m.
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Yes, not surprising.  I keep coming back to the thought that, without an economy that strengthens and remains strong for some time, there are any number of problems that will probably sink us.

The economy finally looks promising.  It even looks like fundamentals are in place to actually bring some jobs back into the country.  The president appears to have reversed the investment psychology and money is finally flowing into the country.

Let's hope it continues.  If it doesn't, we probably have no hope.  At some point - down the road - hopefully the deficit can be addressed.

By MarkB - Oct. 16, 2018, 2:33 a.m.
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The government deficit needs to be addressed. Mostly in the DoD. It's not that I don't know and acknowledge the blanket coverage by the DoD of the many certain intelligence agencies that are included in the DoD budget. It's that they are so willing to hide the reality from the US citizens.



By TimNew - Oct. 16, 2018, 4:06 a.m.
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It's the 1st year of the tax cut.   Revenues were up slightly, spending up significantly and we gained a few points of deficit vs GDP,  the only meaningful measure.


We had a surplus of 119 billion for September and we really won't have a full picture until April of '19 when personal tax receipts are finalized. Should be interesting with a lot more people paying a little less. 


Of note,  the final number for the '18 deficit is 779 billion...   Well below the gloom/doom trillion+ deficits we've been hearing. 


In the final,  while there is no question the deficit is up,  it's still too early to pass judgment on the tax cut as it relates to the budget.  I don't think there is any question of it's effect of the economy.

By patrick - Oct. 16, 2018, 9:06 a.m.
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A lot of the fiscal year was under pre-TCJA law, but corporate tax was still down $92 billion. Things are going pretty well now & the FY19 deficit looks to hit a trillion. What happens when we hit a bump?

The CBO summary is at https://www.cbo.gov/publication/54551#section0