CBO projections

Revenues, by Category
Receipts from individual income taxes rise over the next three years, primarily because of scheduled increases in most tax rates, and then roughly stabilize as a share of GDP.

Revise revenues down!

The net outcome is still a larger deficit.

I'm not a fan of tax cuts without equal cuts to spending

Give him (Trump) time, can't do it all at once.


With some courts now being overturned, more of his cuts will go into effect.

CBO is terrible. What they project and what reality is are seldom close. They're scoring can be cheated quite a lot when it comes to spending and they don't use dynamic scoring IIRC so tax cuts count against projected revenues .Tax cuts generally increase revenue thanks to increased economic activity.

This
"economists have predicted 9 of the last 5 recessions"

Plus they're extremely biased.

Remember the CBO saying Biden's spending wouldn't cause inflation or if so it'd be transatory?



https://www.presidency.ucsb.edu/doc...omic-plan-working-economy-booming-growth

The Laffer Curve. Not a fan of that theory

In a sane world it works to a point. I fear that we're well past it now. Trump certainly believes that we can grow our way out of the debt problem. Works in the business world but there just no way the government can triple ira revenue without runaway inflation.

I believe the Laffer curve worked when tax rates were high. When they are at historic lows and they lower them I think mostly you just get lower revenue. The Laffer curve is a kind of a Bell curve. CBO usually is off in projecting deficits. You see any housing crashes and pandemics or wars in their projections?

"A 2025 analysis highlighted a broader trend, noting that CBO's projections for the cumulative 10-year deficit have typically been about half the actual value, raising concerns about the agency's ability to accurately forecast long-term fiscal challenges"

"For example, in 2014 the CBO projected a cumulative 10-year deficit of less than $7 trillion, yet the 10-year deficit was almost $13 trillion. Similarly, in 2015 the CBO forecast a cumulative deficit of almost $8 trillion and the actual 10-year deficit was over $14 trillion."

"The story is much the same for the entire ten-year period covered by CBO’s 2001 projection. In January 2001, CBO projected a cumulative $5.6 trillion surplus for 2002-2011. Now, CBO’s new report suggests the nation will amass a cumulative deficit of $3.8 trillion over that same period, marking a $9.4 trillion deterioration."

We aren't at historic lows. Unless we're talking since Reagan.

Do people have the Moxi to put up with spending cuts if enough can be found to cut?

I saw folks on here whining when DOGE cut some of the park service's funding, lol.

Gonna have to grow our way out of debt or tighten the belt until you're sweating bullets.

Why does the Park Service have a Funding? I thought this Federal land made money? You know, like the U.S. Postal Service.

Eventually the people aren't going to have a choice

Dirt brought forth some very good facts. Typically deficit projections come in lower than reality.

In a debt backed system the Laffer Curve only works because of money supply expansion imho

Besides the entitlements issues, the biggest or id the federal government is one of if not the largest employers in the country . 3 million plus employees or counting active military.. almost every business the biggest expense is payroll. The. The fact those employees make for a big voting bloc

So nothing ever gets done and supposed conservatives accept that.

We have put ourselves in a precarious position with that thought process.

Again it's the people. We had a major revolt politically with the tea party elections in 2010, somehow ended up with. Mittens as the next GOP nominee, and has a decent win 2014. Then we just gave up. 2016 election was the lowest turnout election in decades. If you look at the scoring of gop politicians, the worst scoring gop members are all from states that democrats can't win in. In 2016 trump has an F/D grade by similar conservative groups. So the people are happy with failing apparently.

None of these budgets last 10 years. It's only good for next year. Next year they will come out with a new 10 year budget with all the savings In the last nine years. Congress never cuts a penny from any budget. When I went to school back in the 60's a if next years budget was bigger then this year's budget there were no DECREASES in spending. Doesn't appear to be that way anymore. Bottom line is THERE ARE NO CUTS!

baseline budgeting needs abolished/banned

It’s not about to change until those holding the debt call it in and Washington declares bankruptcy! Then the economy will tank and a recession will make the Great Depression look like a church picnic!

Those in Washington believe that We The People are an endless supply of money, a virtual ATM! The budget process is a joke! The budget should be based on collected gross tax revenue from the previous fiscal year! No borrowing, no kicking the can down the road! And every proposed bill should be one item with no amendments! If it can’t stand alone to pass, no adding it to a bill that is known will pass! It won’t stop until this country is bankrupt!