US debt is growing faster than the economy: Maya MacGuineas
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- Опубліковано 20 вер 2024
- American Action Forum Fiscal director Gordon Gray and Committee for a Responsible Federal Budget President Maya MacGuineas on how President Trump’s tax cuts increased the national debt.
wow fox isnt as bias this time?
Yeah, that's amazing.
Bullshit.
Fox reports you decide. They are not CNN MSNBC.
peter Cost of living is cheaper in Republican states.
@peter You sir are very misinformed. What happens when people are employed? What happens when there are more jobs then people to fill them? Pretty simple economics,
You can cut social services because employed people get health insurance as part of their wages.
Employers have to offer better packages to get employees which in turn adds to the revenue generated from taxes.
Trump has put people back into the work force and off of social benefits.
Trump is working to stop illegals from collecting SS so that it does not go bankrupt.
Now it's up to you to set up a retirement account so that you don't have to depend on the government when you retire. That's what I have done because I know the government will not lift a finger to help me,you or anyone. And if you think the Democrats give a shit about you then you deserve what you vote for. And that will be nothing, especially if you are a white male ..
Why do programs like social security and Medicare, that people pay into for retirement, have to be cut? Why not spending in the unbelievably bloated military budget? Otherwise, tax corporations and stop subsidizing them. That's not capitalism.
newbranday with the world's instability, with the middle east the stupidest thing you can do is cut military, you could stop supporting illegal immigration WHICH COST THE COUNTRY 136 BILLION A YEAR
@@scherylcrouch3056 I pay for Medicare, corporate and military don't pay crap, and don't dare say the military protects USA that's the biggest lie
Are you crazy? The world is very scary. I sleep with a knife under my pillow. I am scared. Home of the brave
Scheryl Crouch bullshit. There is no way to calculate how much.
Aron Toulouse Aron Toulouse dude it was a sarcasm lol. I don’t even own a gun and don’t think the world is dangerous but I do bring a knife then I hike in Malibu,Big Sur or Oregon
So how's the tax cuts working for you? Did your salary increased? That's what you get when you elect a guy who bankrupts all his companies.
Considering the fact the wage growth of 4.2% as of January 2019, safe to say that their salaries did increase.
The Middle class got tax breaks as well dipshit, recently they were made permanent.
So cry more, Americans are relatively better off now.
-Sincerly, a person who really isn't that much of a Trump supporter.
Declan Newton-Maharaj can you provide some resource .... not from foxnews nor cnn
The tax cut should have been given to the middle class...
Trump couldn't run a casino without bankrupting it, that would be like not being able to sell snow tires in Canada.
hahaha, of course, you will blame it on the glorious president. You do realise that the national debt existed before he came into office right? Obama added the most amount to the debt and you all want to push it on him.
@Mastodon1976
Who's the fat f*ck?
Bernie Sanders?
Make politicians telecommute. No need to be in D.C. when nothing gets done.
lol
Elect a clown, expect the financial circus.
America elected a clown 11 years ago.
Since the banks are doing so well they should pay back the taxpayers that bailed them out in 2009.
You know Trumpets don't care about anything other than a "Wall"..Crazy!!
I'm surprised Fox let these people on here... they're actually telling the real truth.
the US debt thing has never been a partisan issue, it's just carelessness, and it's very dangerous.
And Obama doubled debt in 8 horrible years
It's thieves!
Obama doubled the amount of money in the economy in 8 years = Obama doubled debt in 8 yrs
ua-cam.com/video/9BYhoMILwR4/v-deo.html US "debt" is not an issue.
The Debt of the US Govt is the income of the economy. When the US Govt deficit spends lets say 1 trillion the economy net gains. So why is that a dangerous thing according to God lol
Why don't we get the money back from the bailouts that should help?
Most of it has been paid back, with some of it actually making the government money
In times of no recession, you're supposed to pay off debts and not cut taxes and increase spending.
The tax cuts benefits would fade by 2020 and then it's time to pay the piper. 😋
@ Unicorn Blood The White House is controlled by Wallstreet. Now you know why.
Cutting taxes *without* cutting spending is grossly irresponsible. We cannot borrow our way into prosperity. It will end badly. We already spend 8% of the budget on interest payments with no hope of ever paying back the principle.
Everyone knows the stock market is in a bubble, that is why I took out all my money before the February crash, and look what happened in the last two days, all the gains since February were lost in two days
Due to rising interest rates which are due to a stronger economy. Low fixed equity returns are just as damaging as stock market losses and by the way the market has "plunged" up 7000 points since the day Trump was elected
Not everyone knows it is a bubble. President Trump seems to look at it as a reason to congratulate himself again.
The fact is the US needs to raise rates but can't because they can't satisfy the interest on their Bonds. Not to mention private individuals around the US are so leveraged they wont be able to satisfy the interest either. This is not the sign of a strong economy this is a ticking time bomb.
which ain't good.....are you saying steroids are good for 3 yrs? how drinking two gallons of black coffee and eating two pounds of candy bars?
Buy gold
You've all been duped by this fool of a president
I can’t believe it! It’s almost like cutting taxes doesn’t increase revenue! Paul Ryan said it would! He never lies
USA doesn't need to pay the debt.
Thanks President Trump for adding so much to the National Debt. Thought the Republicans were about fiscal responsibility. CRAZY! Guess the Democrats will have to step up.
Covert Puppytwo - Covert Puppytwo your “man” has added massively to the debt. Borrowing from the future for short term gain. Irresponsible! I’d rather see universal health care than this fiscal mismanagement.
Covert Puppytwo - hi covert, I don’t know what you mean. I am not a Democrat and any Republican who believes in real Republican principles would seek to reduce debt. Trump isn’t a Republican he is a Republicans nightmare. Better to have Democrats in power than this fake Republican pretender who is destroying the US.
Covert Puppytwo - well better than this destructive and dysfunctional administration - with no real fiscal capacity. And I know you’ll point to a “booming economy”. This is a fallacy - as I say borrowed debt from the future and reduced income due to tax cuts - spells major trouble in the future.
Nope we borrowed from non Americans ( China ).....I knew racists were low IQ.
You mean like the great depression and 2008? low IQ moron.
Under TRUMP? no way! is this Fox Business or CNN Business?
Translation: The Empire is going broke!!
Take Trump's family off of the payroll .
Debt doesn't matter at this point in time. The grave has already been dug, who cares if you add another inch to its depth? Might as well spend spend spend and then default on it later. It isn't a matter of if but when.
A Fox News video I can agree on! Washington can hardly keep the government open, let alone achieve a budget surplus.
8 years of Obama can't be wiped out in 2 years.
Raya
"Wiped Out"?!?!
The deficit is growing; not shrinking!!!
#ClueLess
NO but they can be made much worse in two years. 1 trillion $ dollar yearly deficit is making it much worse not better.
@@michelbeauregard7326 You have to factor in the trillion as a ratio of the economy.
@@saint6563 The defecit has to be considered as a ratio of the economy.
@@naddirpatel yes it is 5.1% of GDP, the highest of the G7 countries, by far.
"We are running bankrupt and Mexico will pay for it" the next trump's prhase......
This isn't news, this is the way it's been.
WTF!! People want to buy our debt that means they own us.
The US has always taken an average of 16% of the countries GDP, only question is from where. So they are cut some from corporations. corporations have always had some of the lowest tax rates after exemptions and subsides mixed in with other legal "loop holes". The highest come form the every day upper middle class working people.
Working will pay taxes
your completely right man 35 % percent might be what the law says but after all the loop holes and swopp de woops its more 25 if that
Everyone should thanks trump. He make america greatest debt ever in the history.
That's why you cut spending
TheHealthPhysicist No need, the tax cuts HAVE increased revenue
remulsive That is true. Spending needs to be cut, that spending bill that was passed earlier was a disaster.
It doesn't help when you have to bail out the farmers to the tune of 12 billion because you are trying to be smart and add 1.5 trillion to the national debt in 19 months
@@jackdeegan3617 12 billion is nothing in the grand scheme of things. And if our country had not been mismanaged for so long then maybe Trump would be able to avoid running up a deficit. It is not his fault. Unless you are suggesting we do not fund the US military?
@@Nathangoldstein2 the US spends nearly $900 billions a year on the military now and have wasted trillions on needless wars.. yet you also have the most costly healthcare system..
21 trillion is about $40,000 a minute for 1000 years. Taking money from all of us to give it to a business you own should be criminal.
Sad fact and shows the need for more tax revenue.... I’m hoping that there’s a new tax on religion! Yes the money is there and not being managed properly by the irs
You are an epic DUMBASS....
Michael Vialpando why the fuck should these mega churches pay zero tax when they are building and growing all over the country?
Tax revenue must increase or say hello to the next Superpower, China
If a religious organization is a for profit corporation it should be fucking taxed.
Why should GOP care about the national debt. US has unlimited credit. Let guy in office 10 years worry about.
AUDIT THE FEDS PROBLEM SOLVED
Like they audited kavanaugh? Audit the orange clown in Chief.....
Solved the problem how? Are the deb going to disappear? If yes I am for it.
How do we go from one day everything’s great to oh shit, we broke and full of debt???
Cut military spending in half or shut up.
The Grin Reaper : The Democratic party does not have a coherent answer to this situation.
Cut the free abortion clinics
Cut the benefits for illegal immigrants
Spending 52 billion plus on illegal immigrants every year. A wall is half that
Cut the bs programs that waste our funding like foreign aid to our enemies. And students from abroad.
Cut the Obama care vs and that will save us billions
Why is it we cannot build a wall to protect us but Dems can send us trillions in debt to under insure us? Obamacare is an abomination just as he is and was.
Obama increased the US debt by 8 trillion dollars, let in millions of immigrants and encouraged people to get on welfare, Obamacare = free babies = more freebies etc.and did nothing for the economy and people. Just look at Chicago etc.
Die America die
Why? Many Americans are innocent and hardworking, blame the greedy rich.
We'll take the whole world with us. Good bye global trade. Hope you like regional wars, food and energy price spikes!
god gona destroy usa for million Civilians killings
@@okhanuludag You know what? It is countries like GERMANY that made the US this way..How many innocent Jews, Romas,Poles , Jehovah's whiteness did Germany systematically execute??..And after the USA,Russia,France Great Britain came in to Clean up the mess The Germans made , We flipped the bill to rebuild your Country...And we protected your country(for free) to keep the Russians out through the cold war...smh
American government, not people. The people did nothing to us.
Tax cuts. How's Trump going to pay for that?
Immagine if even Fox can't turn this around.
Reduce expenditures. Close all foreign bases bring all the troops back, save the money to pay the National debt. Stop playing policeman of the world.
We already pay over 600 billion dollars towards our military. Our interest payments is over $500 billion. Its estimated that by next year we looking at 1 trillion dollars in interest.
GDP grows! So as prices! That is inflation; growth is a myth. This is a very critical moment when the US dollar, global trade currency, is no longer accountable for stability.
Thanks to Obama he increased it by 8 trillion and nothing to show for the American people. Let in millions of immigrants and encouraged them to get on welfare. Stop all the welfare and freebies. Illegals are living better at the border than the American people and then given freebies when they are let go.
Heaven forbid the Government spend 2% less per year and balance the budget in less than 10 years.
If the US wants to stand up to China in the Asia Pacific theatre. Sorry, you’ll need to ask taxpayers for money. Military isn’t free, something Americans seem to have forgotten since wars were financed through borrowed money for sometime now.
Trump would say "Fake News,wait is that Fox News"??????
What happens when they don't want our cash for out debt . After all it's just pieces of paper. Smh
Trump supporters here on Fox News said 2 months ago, they can take it all the way. This is not even the head of the monster yet. This is just a finger. I wish only his supporters and Fox could pay for that.
THANK YOU! It is so important that people understand this. Since the economy is doing better, this is the time to cut spending and get the deficit down.
America is based on a superficial economy! It’s sad that they are raising the interest rates knowing all too well that this will push the economy into recession. Why? America is at the cusp of decline, like many empires before it, it too will decline because of greed.
Obama. Day 1 $8 trillion in debt. Trump day 1 $21 trillion in debt. I rest my case.
I honestly thought I was watching CNN...🤣🤣🤣🤣 Wait CNN is not fake news then??? 🤔
Remember, it isn't us who will pay. It's every politician, official and anyone else in government that wasted money or chose to add debt. Their responsibility.
Meanwhile other countries are letting go of the dollar. Saudi Arabia seems to be the only country holding the value of the dollar by not selling oil in other currencies but how long is that gonna last?
SHES RIGHT!!! ABSOLUTELY!!!
Billionaires are taking all the money to their banks. instead of helping the country , and paying more to their poor employees
Irresponsible Politicians create rhe US debt by spending too much. They’ve created a welfare state (to buy votes) and promised more forever into the future. Congress won’t even enact a budget because they don’t want to be hampered by any limitations on spending. Worst, they insist on borrowing the money from their nyc banker buddies (Federal Reserve) and have to pay interest on what they borrowed. All this is completely unnecessary since sovereign nations can coin their own money with no need to borrow any. But politicians don’t care; they know taxpayers will pay the interest, even if it’s a trillion a year.
Cut the entitlements Medicare and social security. Remember folks vote Republican so we can cut the entitlements.
Hope a majority of Americans have seen this before the mid-terms. Oh, too late!
Goodness can’t the Government understand cutting taxes without stopping the spending equals disaster.
Can’t believe I enjoyed this non bias segment
No country Ever paid their Debts as such ,never paid at all. This is the new money
if you add Trump's costs of tariffs, it will be deeper in debt
Very good question that she asked: wasn’t the trillion dollar tax cut supposed to pay for itself? That was the rallying cry of the president and just about every republican senator and congressmen/congresswomen.
"The upper class: keeps all of the money, pays none of the taxes. The middle class: pays all of the taxes, does all of the work. The poor are there...just to scare the shit out of the middle class."George Carlin
Hey, if the U.S. is broke, let's have our friends and allies like Japan, Canada and Europe buy our paper! They love us and our President because we treat them with such respect and fairness! Oh, yeah, right.....
slidy slidy slippery slidy, america goes down the pan! not a tear was shed.
In 1952, corporations paid 33% of all taxes. By 2013, that had dropped to 10% of all taxes paid.
Who do you think is paying the missing 23% of taxes?
Keep in mind, I'm not talking about budget, but taxes that have been paid. So SOMEONE has paid that money, just not corporations.
At it's root this is all because of private money being allowed in US elections.
For the first time in awhile they didn't blame Obama ( that been getting old and tired)
Isn’t it weird that the only news company that talks about our national debt as something urgent is Fox. Everyone else ignores it and focuses on shit talking Trump
End the fucking federal reserve!!
Age old wisdom, "Live within your means"
I'm honestly amazed a fox channel will admit the us economy is going to implode.
But, but, these are a result of the brilliant economics policies that were created by the founder of Trump University so leave him alone...All alone in Russia would be excellent
We have over 7 million open jobs currently if those jobs can’t be filled the tax cuts can end up being a negative.
For 8 years duringthe presidency Hannity went on and on about the debt. Notice how he never brings it up now.
It is refreshing to know FOX can tell the truth sometime.And be honest.I thought only Shepherd and Wallace was decent.Thank
Ok. Its time to bring back the ketchup and pickles as veggies for the school lunch program.
December 8 is the spending cut? Which means no more social security and medicare? Is this a warning?
Wow ,fox telling the truth.
The lender is just as liable. Never forget that.
Time to start printing money. If the government just printed 5 trillion just to pay down debt it would be very smart, but drop the value of the dollar a lot. In fact why not just pay it all off at once. Deal with the major drop in the dollar for a few years until it comes back again.
Don't trade in dollars any longer...
If the economy is good. Those tax dollars should be rolling in right? The national dept should be coming down not going up. Trump needs to put the cell phone down and start doing his job.
If this doesn't alarm MAGA guys, nothing will!
Trumps tax cuts are the main reason for this situation- along without a change in America's spending habits.
I don't need to tell you what happens when a country goes bankrupt- we have a prime example in Venezuela.
God help us!
guess what happens when lending stops...
We who have nothing will lose nothing and smirk as you lose it all.
CUT SPENDING NOW!!!
With over half of the U.S. population claiming that they are only one pay check away from not being able to meet their debt obligations, is it any wonder that the country is in debt? It's democracy in action....the politicians are just reflecting the policy of the people. The general public has no problem taking on debt, so why should the government?
Now, finally. The government IS FORCED TO SHRINK. Maybe thats the point here.
It doesn't sound good for the Americans. I hope they can sort it out.
MDGA- Make the Debt Great Again.
The founding fathers wrote the Constitution so that the federal government was funded by taxes on interstate commerce not taxes on my labor.
Remember: a vote in America is a vote for making the rich richer and everyone else stagnates. You can't vote for anything else bc that's what both parties are for. So smile and love it and call yourself 'free'.
Thanks to Trump🤷♂️🤦♂️
Economist: "The US debt is unserviceable!"
American: "The China is on the brink of collapse."
Economist: "The disaster is coming soon!"
American: "The world is taking advantage of us, we have to sanction them!"
Economist: "We have to cut spending!"
American: "America is booming! We have low unemployment rate. We are on the right track."
American never listen...
damn it be a bummer if trump cut out food stamps then his supporters will have to buy dentures to eat wood and coal cookies🤣😂🤣😂