Acceptable registrations in the queue through March 16 at 11:00a ET have now been activated. Enjoy! -M.W.

Terms of Use have been amended effective October 6, 2019. Make sure you are aware of the new rules! Please visit this thread for details: https://www.mibuzzboard.com/phpBB3/view ... 16&t=48619

Economic Data Thread

Debate and discussion of current events and political issues across the U.S. and throughout the World. Be forewarned -- this forum is NOT for the intellectually weak or those of you with thin skins. Don't come crying to me if you become the subject of ridicule. **Board Administrator reserves the right to revoke posting privileges based on my sole discretion**
User avatar
Rate This
Posts: 13968
Joined: Wed Jan 08, 2020 12:17 am

Re: Economic Data Thread

Post by Rate This » Mon Feb 10, 2020 9:21 pm

Bryce wrote:
Mon Feb 10, 2020 8:59 pm
Rate This wrote:
Mon Feb 10, 2020 8:56 pm
Bryce wrote:
Mon Feb 10, 2020 8:47 pm
Rate This wrote:
Mon Feb 10, 2020 8:37 pm
in the meantime the deficit has exploded because tax cuts do not lead to increased revenues.
Bullshit.

The U.S. treasury collected the largest amount of revenue ever last year.
This is from late 2018 but I doubt the story is much different... you have to look at percentage gains and not dollar amounts... treasury actually had 3 years with more revenue gains — double digits no less— under Obama than the small gains under Trump... so you’re not really all that on target if you care to read...

https://www.politifact.com/factchecks/2 ... ax-cuts-s/
You said "increased revenues" not percentage. We had tax cuts. Revenues did go up. Your statement was wrong. There were increased revenues.

Cuts are what are needed. The new Trump budget addresses those.


Federal tax revenues rose during the 2019 fiscal year as the economy grew, but spending increased by over $200 billion more, which is why the country ended up running a deficit approaching $1 trillion, according to Congressional Budget Office data released Thursday.

We were on pace to run a surplus within 5 years until we had the tax cuts... we now have a budget that gets us back there ... in 15 years. We used a tool that’s usually reserved for recessions in the middle of an expansion. Now if we do get a recession (which is inevitable) we don’t have that arrow in the quiver anymore. The revenues were increasing already anyways. They usually do absent a recession. That’s why the percentage is a more meaningful number than revenues. Supply side economics doesn’t really work. That’s why the effects of the tax cut are worn off already. It produced a temporary 6 or 7 quarter spike in GDP which has returned to “the new normal”... but it’s no longer juicing the economy... this is part of why some began to call for yet another tax cut...



User avatar
Rate This
Posts: 13968
Joined: Wed Jan 08, 2020 12:17 am

Re: Economic Data Thread

Post by Rate This » Thu Feb 13, 2020 1:15 am

Small business owners more optimistic at the start of 2020, the NFIB says:
https://www.marketwatch.com/story/small ... mic-report

Job openings in the U.S. fall to a 2-year low - ‘not a good trend’:
https://www.marketwatch.com/story/job-o ... mic-report

U.S. Runs $32.6 Billion January budget deficit, treasury says:
https://www.marketwatch.com/story/us-ru ... mic-report



Post Reply Previous topicNext topic