transporter
Well-Known Member
So here is a poll question for the day...which of these Trump advisors is worse at his job: Rudy Gulliani or Larry Kudlow??
The information below is the kind of bs reserved for people who play economists on TV but have no actual economic background....
Trump adviser eyes entitlement cuts to plug U.S. budget gaps
(That's $1t kiddies...and that level of deficit will last well beyond the next one or two years.)
...
The equation is simple: Spending - Revenue = surplus or deficit.
Our inept President, with the more inept Kudlow at his side, signed off on Higher spending and LOWER revenue. The stupidity of either of those in an economy running at/near capacity is stupendous....doing both in an at/near capacity economy is damn near criminal.
...
It's not a catastrophe??? When we ran $1t deficits coming out of the worst recession this country had experienced in 80 years, Kuldow and crew were besides themselves. They were apoplectic. This is when large deficits were called for.
Now that they aren't needed, its "not a catastrophe". This guy is perfect for a Trump admin...just as inept, incompetent and unfit as the President.
...
We had a 4.2% annualized GDP in Q2...the deficit widened. We look to be tracking a mid to high 3% GDP for Q3...the deficit is still growing. Once again, the ignorance of "lower taxes leads to higher revenue" is on full display for all to see it for what it is: a bald faced lie (Gilligan and the rest of the ignorati will still claim it works though!!)
The information below is the kind of bs reserved for people who play economists on TV but have no actual economic background....
Trump adviser eyes entitlement cuts to plug U.S. budget gaps
NEW YORK (Reuters) - A top economic adviser to President Donald Trump said on Monday he expects U.S. budget deficits of about 4 percent to 5 percent of the country’s economic output for the next one to two years, adding that there would likely be an effort in 2019 to cut spending on entitlement programs.
(That's $1t kiddies...and that level of deficit will last well beyond the next one or two years.)
...
“We have to be tougher on spending,” White House economic adviser Larry Kudlow said in remarks to the Economic Club of New York, adding that government spending was the reason for the wider budget deficits, not the Republican-led tax cuts activated this year.
The equation is simple: Spending - Revenue = surplus or deficit.
Our inept President, with the more inept Kudlow at his side, signed off on Higher spending and LOWER revenue. The stupidity of either of those in an economy running at/near capacity is stupendous....doing both in an at/near capacity economy is damn near criminal.
...
“We’re going to run deficits of about 4 to 5 percent of GDP for the next year or two, OK. I’d rather they were lower but it’s not a catastrophe,” Kudlow said. “Going down the road, of course we’d like to slim that down as much as possible and we’ll work at it.”
It's not a catastrophe??? When we ran $1t deficits coming out of the worst recession this country had experienced in 80 years, Kuldow and crew were besides themselves. They were apoplectic. This is when large deficits were called for.
Now that they aren't needed, its "not a catastrophe". This guy is perfect for a Trump admin...just as inept, incompetent and unfit as the President.
...
He stated that the biggest factor for revenue was economic growth rate. A quicker pace of growth will bring in more revenue, Kudlow said, and that President Donald Trump’s economic policies were aimed at boosting the U.S. growth rate.
We had a 4.2% annualized GDP in Q2...the deficit widened. We look to be tracking a mid to high 3% GDP for Q3...the deficit is still growing. Once again, the ignorance of "lower taxes leads to higher revenue" is on full display for all to see it for what it is: a bald faced lie (Gilligan and the rest of the ignorati will still claim it works though!!)