LAX: Trump's tax cuts bring huge debt and future financial crisis

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3 total messages Started by hanc... Tue, 26 Jun 2018 20:04

#624610

Author: hanc...
Date: Tue, 26 Jun 2018 20:04

14 lines
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excerpt

The nonpartisan Congressional Budget Office said the tax cuts 
championed by President Trump are helping push the nation 
toward an unprecedented level of debt, and heightening the risk 
of another financial crisis.  The CBO projected soaring
deficits in the coming years, with debt ultimately peaking at more
than 152% of the nation’s gross domestic product.  Last year’s 
tax cut. It is estimated to increase the deficit by more than 
$2.3 trillion over the decade.

very detailed full article at:

http://www.latimes.com/politics/la-na-pol-tax-cuts-debt-20180626-story.html

Re: LAX: Trump's tax cuts bring huge debt and future financial crisis

#624612

Author: Andrew Swallow
Date: Tue, 26 Jun 2018 20:09

22 lines
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On 26/06/2018 21:04, hanc...@bbs.cpcn.com wrote:
> excerpt
> 
> The nonpartisan Congressional Budget Office said the tax cuts
> championed by President Trump are helping push the nation
> toward an unprecedented level of debt, and heightening the risk
> of another financial crisis.  The CBO projected soaring
> deficits in the coming years, with debt ultimately peaking at more
> than 152% of the nation’s gross domestic product.  Last year’s
> tax cut. It is estimated to increase the deficit by more than
> $2.3 trillion over the decade.
> 
> very detailed full article at:
> 
> http://www.latimes.com/politics/la-na-pol-tax-cuts-debt-20180626-story.html
> 
> 
> 

When a country borrows to pay the interest on its loads a small increase 
in interest rates produces a feedback loop causing the money to go out 
of control.

Re: LAX: Trump's tax cuts bring huge debt and future financial crisis

#624611

Author: hanc...
Date: Tue, 26 Jun 2018 20:22

1 lines
1456 bytes

oops--sorry, please disregard.

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