Well... it's Trump... again. #47, here we go.

[TV and credit cards]

Markets are reacting poorly to bond auction and reducing demand for US Bonds as apparently everyone else is wondering how America is going to manage their finances in the near future. While the issue of debt is part of the problem, one has to wonder how much the foreign investors are not thinking the US is in a viable long-term strategy under Trump, as Trump's tax cuts which added trillions to the deficit are being EXPANDED by Congress.

Add in the issue of the tariffs and the gross uncertainty on its impact on the US economy, shit appears to be getting real right now.

No one is reporting on it or suggesting it, but I have to wonder whether bond investors are wondering whether they can trust Trump not to default on bond payments itself.

The debt is rolling over to the new rates. So interest and debt payments will go up. The extra $175 billion for defense will put Defense above $1Trillion/year. SS/Medicare/Debt payment/Military will absorb a large majority of US taxes. I bet they eventually go after SS/medicare. Definately starting to look at Medicad, SNAP, etc.

25-30% of the debt rolls over to the new rate (needs to be refinanced). The rest is locked in until their maturity date.

I expect more irresponsible posts from Trump questioning the amount owed and necessity of payments on the debt.

 

[Jimmy Higgins]

GOP House passes bill by one vote. Leader of the Freedom Caucus fecklessly voted present. Wow... that was taking a stand. The bill is projected to increase the deficit an additional $4 trillion, on top of the probably $20 to $25 trillion of so it is already projected to increase over that time. And that is the rosy scenario. The Medicaid cuts are in theory only and they include the typical rosy projections of the growth rarely seen when these cuts are enacted.

The GOP has railed on deficit spending... and this bill does nothing to address deficit spending at all. They only things they cut were to be able to financially clear a hurdle on deficit spending to get this reconciliation bill passed. So now, instead of $20 to $25 trillion in the next ten years, it'll be $24 to $33 trillion in deficit spending.

 

[Swammerdami]

... The GOP has railed on deficit spending... and this bill does nothing to address deficit spending at all.

In the olden days, CBO and OMB were the relatively non-partisan offices charged with estimating future deficits, etc. Now Trump's fascists have infested all government offices with blatant liars. But even the MAGATs now admit that by 2035 the total federal debt will be in excess of Sixty Trillion Dollars! That's about $400,000 per household -- money effectively taken from ordinary citizens to enrich the corporations and billionaires already reeking of caviar and super-yachts.

Is there anybody even the slightest bit surprised by this? The consistency with which Trump and the entire QOP prevaricate should teach sensible people to INVERT anything these despicable scumbags say.

What does MAGAT guinea pig @RVonse think of this? Is he still filled with awe and admiration for the "cost-cutting" efforts of Musk's merry band of teeny-boppers? How much was saved by firing 31% of IRS auditors?

 

[James Brown]

Seen online...

Politics is the only place where people can be convinced to trade their umbrella for sunscreen in the middle of a storm.

 

[ZiprHead]

So @RVonse . Deficit INCREASING by 4 trillion.

How many times did we warn you this would be the result? The only times deficit spending increased revenue was when those deficits were used to create incentives. Never without incentives and especially never by just giving it to billionaires.

It's trickle down bullshit all over again.

 

[Elixir]

The obvious is … obvious. Obviously.

 

[ZiprHead]

Yup. They lied and @RVonse believed them, again.

Why do you continue to be made a fool of by these people and just keep going back for more?

This is exactly the opposite of what you were wanting, RVonse. When the country goes into recession or worse depression do you really think big business is going to build factories here with no one to buy the now more expensive products they produce when they have no money?

 

[crazyfingers]

Do you ever wonder what you'd do if you were stopped by ICE? How many times would you call then asswipes? Tell then to fuck off. Tell they they are working for a Fascist slimebucked and if they had any decency they'd quit their jobs?

 

[Patooka]

Yup. They lied and @RVonse believed them, again.

Why do you continue to be made a fool of by these people and just keep going back for more?

This is exactly the opposite of what you were wanting, RVonse. When the country goes into recession or worse depression do you really think big business is going to build factories here with no one to buy the now more expensive products they produce when they have no money?

...but, but increasing the deficit is better than doing nothing, remember?

 

[Jimmy Higgins]

I remember the First Trump Admin being exhausting. The second one is one ironman after the other. link

“Our discussions with them are going nowhere!” Trump posted on Truth Social. “Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States.”

That post had been preceded by a threat of import taxes against Apple. Apple now joins Amazon, Walmart and other major U.S. companies in the White House's crosshairs as they try to respond to the uncertainty and inflationary pressures unleashed by his tariffs.

“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.”

The bond market is on edge. The deficit hawks passed a deficit expanding tax cut bill in the House. And this fucker is again threatening to throw our economy into a recession, with inflation.

 

[Shadowy Man]

“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.”

I thought that Trump always said that the other countries pay the tariffs. What is this “paid by Apple” statement??

 

[Jimmy Higgins]

“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.”

I thought that Trump always said that the other countries pay the tariffs. What is this “paid by Apple” statement??

He just says shit. It never needs to make sense, be accurate. The Red Hats will nod and wave. Yeah, Apple should pay a tariff!

Then when the bill comes in and the iPhone is $1500, Trump will relent that Americans don't need as many phones in a household. And the Red Hats will nod and wave.

 

[Elixir]

I thought that Trump always said that the other countries pay the tariffs. What is this “paid by Apple” statement??

When will we stop dwelling on the nonsensical, idiotic nature of the shit Trump spews?
We never seem to tire of expecting trumpsuckers to respond rationally to the specter of a stupid, demented megalomaniac contradicting himself and lying his contorted face off.

THEY DONT CARE.

There’s no possible act so heinous that it cannot be placed in a positive light when compared to the pure invented evil assigned to those who oppose him.

 

[TV and credit cards]

The investor is dead. Long live the trader.
Seriously, you could be buying and selling index funds like a trader based on what comes spewing out of Dickhead’s mouth at any given moment.

 

[Swammerdami]

So @RVonse . Deficit INCREASING by 4 trillion.

Note the "increasing." The 4 trillion prediction is above and beyond the deficits already predicted.

One must be careful with such numbers. Are they single-year numbers, or aggregated over 5 years? 10 years? What assumptions do they make? Different propaganda biases lead to divergent hypotheses.

And of course, even Congress can't be sure what is contained in the Great Big Beautiful Bill. IIUC, the 1000-page Bill was still being edited while the House of Reps made their up-down vote on it.

Big increases in defense spending are proposed, roughly offset by huge cuts to Medicaid, SNAP, education and all other social programs. It is the tax cuts that will jack up the deficit hugely. Beware of QOP deficit estimates: They may be assuming gargantuan tariff revenue that will not materialize.

The claim I hear from relatively respected commentators is that, if BBB or something similar is enacted, the total federal debt (now $36 T) will rise to $60 T (or even more) by 2035. Yes, that's SIXTY Trillion dollars.

And what about interest payments on Treasury debt? This already runs at about a Trillion dollars per year. At current interest rates this will double in a few years and triple by 2035. Deteriorating respect for the Dollar may hike interest rates further; I don't think this is considered in most future deficit estimates. China and some other countries are reducing their holdings, as is FedRes. Who will step up to buy the trillions of new bonds being issued?

How many times did we warn you this would be the result? The only times deficit spending increased revenue was when those deficits were used to create incentives. Never without incentives and especially never by just giving it to billionaires.

It's trickle down bullshit all over again.

Much of the Trumpist mayhem will be very hard to reverse, even if rational thinkers retake control. Those who thought Trump would REDUCE the deficit are rapidly turning into laughing-stocks.

 

[unapologetic]

We are stuck with the bitter Vance pill. He'll be even worse, though maybe he'll stop with the tariff shit.

Would Vance get the same loyality as Rump?

 

[Shadowy Man]

We are stuck with the bitter Vance pill. He'll be even worse, though maybe he'll stop with the tariff shit.

Would Vance get the same loyality as Rump?

Can’t wait for the Vance gold watch and the Vance crypto coin.

 

[RVonse]

So @RVonse . Deficit INCREASING by 4 trillion.

Note the "increasing." The 4 trillion prediction is above and beyond the deficits already predicted.

One must be careful with such numbers. Are they single-year numbers, or aggregated over 5 years? 10 years? What assumptions do they make? Different propaganda biases lead to divergent hypotheses.

And of course, even Congress can't be sure what is contained in the Great Big Beautiful Bill. IIUC, the 1000-page Bill was still being edited while the House of Reps made their up-down vote on it.

Big increases in defense spending are proposed, roughly offset by huge cuts to Medicaid, SNAP, education and all other social programs. It is the tax cuts that will jack up the deficit hugely. Beware of QOP deficit estimates: They may be assuming gargantuan tariff revenue that will not materialize.

The claim I hear from relatively respected commentators is that, if BBB or something similar is enacted, the total federal debt (now $36 T) will rise to $60 T (or even more) by 2035. Yes, that's SIXTY Trillion dollars.

And what about interest payments on Treasury debt? This already runs at about a Trillion dollars per year. At current interest rates this will double in a few years and triple by 2035. Deteriorating respect for the Dollar may hike interest rates further; I don't think this is considered in most future deficit estimates. China and some other countries are reducing their holdings, as is FedRes. Who will step up to buy the trillions of new bonds being issued?

How many times did we warn you this would be the result? The only times deficit spending increased revenue was when those deficits were used to create incentives. Never without incentives and especially never by just giving it to billionaires.

It's trickle down bullshit all over again.

Much of the Trumpist mayhem will be very hard to reverse, even if rational thinkers retake control. Those who thought Trump would REDUCE the deficit are rapidly turning into laughing-stocks.

If Trump can't or doesn't fix the deficit his whole administration will be an absolute failure no argument from me. Even the small amount of good done with border control is insignificant if our deficit can not be brought under control. This isn't good.

 

[unapologetic]

if our deficit can not be brought under control.

It never could. Not in just 4 years. You should have seen that.
Rump will say anything, with complete disregard for what the truth is.
He doesn't know or care what he is saying.
The Big Brother Bill doesn't even try to ballence the budget. It is not a start either, to fulfilling that promise.

 

[bilby]

If Trump can't or doesn't fix the deficit

He can't. And he is making it FAR worse, not in any way better.

his whole administration will be an absolute failure no argument from me.

Welcome aboard. What kept you?

Even the small amount of good done with border control

No good whatsoever has been done with border control.

is insignificant if our deficit can not be brought under control.

It can't. Not without reversing all of the tax cuts enacted since Clinton was in office.

The US budget deficit cannot be addressed on the spending side without fucking up the country - almost none of that spending was or is unnecessary or wasteful in any way, and cutting it by any significant amount will crash (is crashing) the economy.

The only sane way to address the deficit is by taxation. It needn't even be particularly high taxation - just the same levels as were in place very recently would suffice.

The US isn't broke because it plans to buy too much, nor because it cannot afford to pay. The US is broke because it refuses to pay, through taxation, for stuff it has already bought.

Tax cuts, in an economy with no budget surplus, are morally equivalent to running out of a restaurant after your meal, instead of paying.

This isn't good.

No shit, Sherlock.