U.S. budget deficit jumps to $779 billion

[UpInArms]

Source: Marketwatch

The numbers: The U.S. recorded a $779 billion deficit in the fiscal year ending Sept. 30, an increase of $113 billion, as spending climbed while revenue remained nearly flat, the Treasury Department announced Monday.

Outlays grew by $127 billion, or 3.2%, while government receipts rose 0.4%, or $14 billion.

...snip...

What happened: Interest on the public debt shot up by $65 billion, or 14%, in part because the Treasury had to increase the principal on its inflation-protected securities. Rising interest rates and a bigger debt also played a role.

...snip...

On the revenue side, corporate taxes dropped by 22%, or $76 billion, as companies enjoyed a smaller rate of tax as well as the ability to immediately deduct the full value of equipment purchases, both byproducts of the Tax Cuts and Jobs Act. Individual income taxes edged up by 1%, or $23 billion, as increased employment and higher wages were offset by the lower withholdings, as the Treasury published a modified withholding table.

Read more: https://www.marketwatch.com/story/us-budget-deficit-jumps-to-779-billion-2018-10-15

[Botany]

1. We are gonna wins much that you may even get tired of winning

[duforsure]

2. just another reason we'll see

The markets crash , and create another trickle down recession , and possibly much worse than when W Bush did the same thing. They know it'll do this , and its about them paying off their donors for their campaign backing bribes donors paid for , then threatened them the funds would dry up if they didn't give them huge tax windfalls yearly, forever, and they did it.

[Dawson Leery]

3. Supply Side Economics in all it's horror.

[Johnny2X2X]

4. In a strong economy

Insanity. Wait until the recession hits, this could double then.

[Roland99]

5. $65 billion increase in interest alone as treasury rates rise

and the deficit will continue to grow due to Twitler's (and the Repuke's) continued supply-side bullshit.

[Bernardo de La Paz]

6. Economic terrorism to justify "strangling government in a bathtub"; death of SocSec & Medicare

I want my friends to understand that "staying out of politics" or being "sick of politics" is privilege in action. Your privilege allows you to live a non-political existence. Your wealth, your race, your abilities or your gender allows you to live a life in which you likely will not be a target of bigotry, attacks, deportation, or genocide. You don't want to get political, you don't want to fight because your life and safety are not at stake.

It is hard and exhausting to bring up issues of oppression ( aka "get political" ). The fighting is tiring. I get it. Self-care is essential. But if you find politics annoying and you just want everyone to be nice, please know that people are literally fighting for their lives and safety. You might not see it, but that's what privilege does.

Kristen Tea, http://motherwiselife.org

[Achilleaze]

7. "We are fully to blame us for this ugly mess." - republicans

"Please unthinkingly consume our Latest Republican Lies (via Fox) to fully misunderstand how we are screwing over you proles, just as we have always screwed you over and then suckered you with more lies." - republicans

[Vinca]

8. There was an "economist" on TV the other day claiming the treasury would actually take in more money

from corporations because they are so grateful for the lowered tax rate they'll ignore legal loopholes to pay even less. And he said it with a straight face.

[LiberalArkie]

9. We have to stop with all the give-a-ways like Social Security, Snap, Medicare etc

Otherwise out great nation will have to stop blowing up peoples.

[The Liberal Lion]

10. As if Kansas wasn't proof enough

but once again we see the failure of Laffer curve economics is once again apparent.

[7962]

12. The Laffer curve rates would actually bring in a ton more money, but we're below those rates.

And far too much income is never taxed. Which is another story....

[7962]

11. Must be fake news because Trump said he was going to fix the deficit problem.

So theres no way he'd lie to us........

[riversedge]

14. oink

[jpak]

13. So much winning!

Fucking GOP liars and hypocrites.

[riversedge]

15. sure.

[Midnight Writer]

16. Where is our Tea Party? Where are our deficit hawks? Where are the Koch Bros. outrage?

[UpInArms]

17. Crickets

[llmart]

18. Yes, that would be my question.

I want to hear what all the Tea Partiers have to say about this. What? No comment? Why not? You all were such economic experts in your hey day.

[redstateblues]

19. Paging Paul Ryan

Wasn't the deficit what his whole career was based on? What an Effin loser!