Anyone who believes that the Republican Party is conservative, especially in the area of federal spending, is seriously deluded. I have said for years: The only difference between Democrats and Republicans is Democrats want to tax and spend, and Republicans want to borrow and spend; but both parties want to SPEND. And Donald Trump is no exception.
It's Huuuuuge: US Budget Deficit Under Trump Rises 21%, Widest Gap in Six Years
The US is headed toward its largest annual deficit in six years, according to reports, and new facts released by the Fed point to Trump's tax laws and heavy military spending as the reason for the spiraling vortex of national debt.
The Trump White House sharply altered its current US deficit estimates up — way up — last week, now projecting that the annual deficit will rise above $1 trillion for the first time since 2013, even as the Fed noted a $76.9 billion deficit for July alone, primarily a result of increased military and government spending as well as deep tax cuts to corporations and the wealthy.
The US Treasury Department — headed by Steve Mnuchin, a Trump pick that many in Congress have dubbed the 'foreclosure king' — has observed that in just the first 10 months of the 2018 fiscal year, the US deficit totaled $684 billion, a startling 20.8 percent rise over the same period in 2017.
US government revenue is up just 1 percent in 2018 to date, according to the Fed, as a big drop in corporate tax payments at the hands of the Trump administration has seen tax earnings for the Fed drop significantly.
Total government spending — particularly by the US military — has risen 4.4 percent, according to reports, after Congress boosted corporate-friendly programs and now suffers under the rapidly rising cost of financing an enormous debt, cited by Marketwatch.com.
As interest payments on US national debt jumped an astonishing 41 percent in July, many are wondering whether the system can sustain — nevermind correct — itself, according to Marketwatch.com.
US congressional budget analysts have estimated that the 2018 deficit will be some 19 percent larger than that for 2017.
Republican-authored tax laws and spending boosts approved by a Republican-controlled US Congress are noted to be the drivers of the rapidly increasing national debt, as the Congressional Budget Office (CBO) has now predicted that trillion-dollar US deficits will return by 2020 at the latest.
A government spending spree of potentially historic proportions will play out over the final seven weeks of fiscal 2018, as federal agencies look to spend $140 billion more than they thought they'd get before Congress passed and President Trump signed the omnibus spending bill.
Without a budget agreement in place, agencies spent cautiously through the first two quarters of fiscal 2018 before the omnibus—signed six months late in March—obligated an additional $80 billion for defense and $63 billion for civilian agencies.
Federal agencies, now flush with cash, must obligate that money before the fiscal year ends on Sept. 30 or lose it to the Treasury Department. Analysts believe the federal market will see a monumental effort among procurement officials to spend as much on contracts as possible.
"If agencies are going to spend the extra money in fiscal 2018, it's going to have to be at a much higher percentage in the fourth quarter than it has been historically," David Berteau, president of the Professional Services Council, told Nextgov.
And, of course, President Trump just signed the 2019 National Defense Authorization Act (NDAA) into law that approves a $717 billion budget for so-called defense-spending. According to CNBC,
The 2019 National Defense Authorization Act, or NDAA, includes $616.9 billion for the Pentagon's base budget, $69 billion for overseas contingency operations.
"Overseas contingency operations" means America's ongoing "War on Terror," otherwise known as "Wars For The New World Order" or "Wars For Globalists" or "Wars For The Deep State" or "Wars For Israel." For all intents and purposes, the terms "New World Order," "Globalists," Deep State," etc., all include the same entity: the Zionist State of Israel.
Speaking of the "War on Terror," if you have not ordered Christopher Bollyn's blockbuster new book The War On Terror: The Plot To Rule The Middle East, I encourage you to do so quickly. This book dispels the myths and destroys the lies about who and what was behind the 9/11 attacks and what America's "War on Terror" is really all about. Bollyn is a researcher and investigative journalist who has dared to expose the lies that have cost trillions of dollars and millions of lives—lies that are still the basis of America's foreign policy and ongoing "War on Terror." This book is MUST-READING.
And while we are on the subject, the American taxpayers continue to shell out billions of dollars for Benjamin Netanyahu's Apartheid State.Stephen Lendman reports:
Israel is Washington's largest recipient of foreign aid. It's mostly for militarism and belligerence – billions of dollars annually, far more than to any other nation.
The Jewish state's imperial wars, occupation harshness, and apartheid high crimes don't matter – nor its flagrant violations of international law, not even its abusive spying on US military and other operations.
The CIA earlier called Israel its main regional spy threat. The FBI once uncovered a large-scale US-based Israeli spy ring – still active the agency believes.
The Pentagon accused Israel of "actively engag(ing) in military and industrial espionage in the United States."
Israel tries stealing everything it can get its hands on, including US military and industrial secrets, its main ally and benefactor.
The FY 2019 National Defense Authorization Act (NDAA) includes $500 million for US-Israel missile defense cooperation, $50 million more for the Jewish state's war on Gaza's tunnel economy, wanting vital goods it supplies cut off, further strangling its beleaguered people.
The measure authorizes an additional billion dollars to stockpile US weapons in Israel – available for its killing machine, used to terrorize Palestinians, to terror-bomb Gaza and Syria, to partner in Washington's imperial aggression.
Like America, Israel's only enemies are invented ones, no others. Both nations wage endless wars without declaring them.
For the first time, the FY 2019 NDAA establishes a cooperative US/Israeli R&D program to enhance countering unmanned aerial vehicles.
On August 1, Senate members passed S. 2497: United States-Israel Security Assistance Authorization Act of 2018 – unanimously without a roll call vote. Rubber-stamp House passage is certain.
The measure amends the 1961 Foreign Assistance Act and Arms Export Control Act. It authorizes additional funding for Israel's killing machine, "and for other purposes" related to militarism and warmaking.
Congressional support for Israel is virtually unanimous. Both countries partner in each other's high crimes.
New US funding for the Jewish state's killing machine increases the Obama regime's 2016 $38 billion package through 2026 – $3.8 billion annually, up from $3.1 billion a year earlier.
Most often, whatever Israel wants it gets – from the pockets of US taxpayers.
They're largely unaware how their taxes are misused – for militarism, war-making and corporate handouts at the expense of other vital homeland needs.
All of Trump's talk about draining the swamp and reining in the federal government is just that: TALK. Trump is spending money like a drunken sailor. No, that's not really true. A drunken sailor spends his own money—money he has; Trump and his fellow miscreants in Washington, D.C., (from both parties) are spending OUR money—and it is money we don't have.
Even the way Trump enacts tariffs is dishonest. After levying tariffs on foreign imports—ostensibly to balance the playing field in order to protect American trade interests—Trump turns around and gives billions of dollars to U.S. farmers that are hurt by those tariffs. Where do those billions of dollars come from? The U.S. taxpayers, that's who. This is nothing more than old fashioned Crony Capitalism.
I'm telling you, Donald Trump doesn't have an honest bone in his entire body. Like every other statist politician in Washington, D.C., Trump is bankrupting America to finance his Big-Government, Militaristic, Police State, Zionist agenda—all of his outsider, conservative rhetoric notwithstanding.
And still Republicans love him, and evangelical Christians adore him. Go figure.
Truly, no one can get by with out-of-control federal spending like Republicans. No one! Republicans in DC spend money the way Democrats talk about spending money.
As I said, the only difference between Democrats and Republicans is that Democrats want to tax and spend, and Republicans want to borrow and spend. And borrow and spend is exactly what Donald Trump and the Republicans in Washington, D.C. are doing—like there is no tomorrow.
P.S. I, again, urge readers to get Christopher Bollyn's new blockbuster book The War On Terror: The Plot To Rule The Middle East.
Christopher Bollyn—along with Professor Steven Jones and others—is one of the foremost investigative researchers of the 9/11 attacks whose findings have decimated the official story that 19 Muslim terrorists attacked the Pentagon and took down the Twin Towers in New York City.
In his book The War On Terror, Bollyn shows that the 9/11 attacks were actually part of a much larger international conspiracy and the culprits were not al-Qaeda, Osama bin Laden or militant Muslims in general. Bollyn's book proves who the real culprits were and also shows how these conspirators have masterminded a perpetual "War on Terror" that is serving several nefarious purposes, including the destruction of America's liberties.
From the book's back cover:
The government and media have misled us about 9/11 in order to compel public opinion to support the War on Terror.
Why have we gone along with it? Do we accept endless war as normal? Are we numb to the suffering caused by our military interventions?
No. We have simply been propagandized into submission. We have been deceived into thinking that the War on Terror is a good thing, a valiant struggle against terrorists who intend to attack us as we were on 9/11.
Behind the War on Terror is a strategic plan crafted decades in advance to redraw the map of the Middle East. 9/11 was a false-flag operation blamed on Muslims in order to start the military operations for that strategic plan. Recognizing the origin of the plan is crucial to understanding the deception that has changed our world.
If you don't read any other book in 2018, read Christopher Bollyn's new book The War On Terror: The Plot To Rule The Middle East. Order it here:
© Chuck Baldwin
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