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#trump budget – @dragoni on Tumblr
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DragonI

@dragoni

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie", Miyamoto Musashi
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#1 Farm loan delinquencies just hit the highest level that we have seen in 9 years.

#2 We just learned that U.S. exports declined by 4 billion dollars during the month of December.

#3 J.C. Penney just announced that they will be closing another 24 stores.

#4 Victoria’s Secret has just announced plans to close 53 stores.

#5 On Thursday, Gap announced that it will be closing 230 stores over the next two years.

#6 Payless ShoeSource has declared bankruptcy and is closing all 2,100 stores.

#7 Tesla is also closing all of their physical sales locations and will now only sell vehicles online.

#8 PepsiCo has started laying off workers and has committed to “millions of dollars in severance pay”.

#9 The Baltic Dry Index has dropped to the lowest level in more than two years.

#10 This is the worst slump for core U.S. factory orders in three years.

#11 We just witnessed the largest decline in the Philly Fed Business Index in more than 7 years.

#12 In January, sales of existing homes fell 8.9 percent from a year earlier.  That was the third month in a row that we have seen a decline of at least 8 percent.  This is an absolutely catastrophic trend for the real estate industry.

#13 U.S. housing starts were down 11.2 percent in December compared to the previous month.

#14 Compared to a year earlier, home sales in southern California were down 17 percent in January.

#15 In December, home sales in Sacramento County fell a whopping 22.5 percentcompared to a year earlier.

#16 Pending home sales in the United States have now fallen on a year over year basis for 13 months in a row.

#17 More than 166 billion dollars in student loan debt is now “seriously delinquent”.  That is an all-time record.

#18 More than 7 million Americans are behind on their auto loan payments.  That is also a new all-time record, and it is far higher than anything that we witnessed during the last recession.

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reblogged

“Science is supposed to be the basis for nearly everything the EPA does. For example, the Clean Air Act requires the agency to propose and enforce air, water, and climate regulations that adhere to the best available science. Under that law, the EPA found that climate change endangers human health and enacted the Obama administration’s signature regulations on carbon emissions—regulations that the Trump administration is working to undo.

So what if science initiatives are severely underfunded? For the EPA, carrying out even its basic functions will become much more difficult.

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dragoni

Trump, Pruitt and Republicans euthanizing the EPA and America because their God will provide! 

  • funding will be rolled back to the amount the EPA received when it was created in the 1970′s
  • FIRE 3,800 people

Mother Jones has the Environmental Protection Network report. Here’s the PDF.

The newly formed Environmental Protection Network is a coalition made up of retired employees from Republican and Democratic administrations, many of whom have had decades of experience running the day-to-day work at the agency.  
The Environmental Protection Network  will help reporters, activists and policymakers penetrate an administration they accuse of waging an “ideologically driven” battle to cripple core functions of the agency.
And on Monday, this group of lawyers, scientists, and policy wonks released an analysis of the White House budget ahead of congressional testimony that EPA Administrator Scott Pruitt is set to deliver on Thursday. The hearing will be the first time that Pruitt will have to defend the dramatic cuts the administration has proposed for the agency.
Trump’s budget slashes the EPA’s main science programs by 47 percent, according to the former staffers’ analysis. “This area would be the most severely cut, contrary to verbiage in the Budget document acknowledging the important role of science in carrying out EPA’s regulatory, permitting and enforcement responsibilities,” says the report. “The damage is not only to EPA but to scientists across the country.” The budget includes an additional 7.9 percent cut to the Science Advisory Board, which provides expert guidance on the science that underlies EPA rulemaking. 
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pewresearch

President Donald Trump’s first budget request to Congress would make deep cuts to government programs, including Medicaid, the health insurance program for low-income adults and children. Recent polls have found little public support for cuts to Medicaid, but that may not be a surprise: Americans tend not to favor budget cuts when asked about specific areas being affected.

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dragoni

“Rich” Taxpayers First

Trump and GOP Newspeak

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stoweboyd

Trump’s crew is increasingly looking like a gang that can’t shoot straight. Most recent a $2 trillion math error where they count the savings of the miracle tax plan twice:

One of the ways Donald Trump’s budget claims to balance the budget over a decade, without cutting defense or retirement spending, is to assume a $2 trillion increase in revenue through economic growth. This is the magic of the still-to-be-designed Trump tax cuts. But wait — if you recall, the magic of the Trump tax cuts is also supposed to pay for the Trump tax cuts. So the $2 trillion is a double-counting error.
Trump has promised to enact “the biggest tax cut in history.” Trump’s administration has insisted, however, that the largest tax cut in history will not reduce revenue, because it will unleash growth. That is itself a wildly fanciful assumption. But that assumption has already become a baseline of the administration’s budget math. Trump’s budget assumes the historically yuge tax cuts will not lose any revenue for this reason — the added growth it will supposedly generate will make up for all the lost revenue.
But then the budget assumes $2 trillion in higher revenue from growth in order to achieve balance after ten years. So the $2 trillion from higher growth is a double-count. It pays for the Trump cuts, and then it pays again for balancing the budget. Or, alternatively, Trump could be assuming that his tax cuts will not only pay for themselves but generate $2 trillion in higher revenue. But Trump has not claimed his tax cuts will recoup more than 100 percent of their lost revenue, so it’s simply an embarrassing mistake.
It seems difficult to imagine how this administration could figure out how to design and pass a tax cut that could pay for itself when Ronald Reagan and George W. Bush failed to come anywhere close to doing so. If there is a group of economic minds with the special genius to accomplish this historically unprecedented feat, it is probably not the fiscal minds who just made a $2 trillion basic arithmetic error.

If there was any doubt that Trump & Co don’t know what the fuck they are doing, this settles it.

Hilariously, when asked about this glitch, Treasury Secretary Mnuchin responded like this:

Harwood asks Mnuchin about double-counting gimmick: “This is a preliminary document that will be refined” #FiscalSummit
— David Wessel (@davidmwessel) May 23, 2017
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dragoni

Republicans get frazzled when there are too many zeroes. They were just so excited about their trickle down economics for the rich.

Mick Mulvaney and Mnuchin, it’s the 21st century, there are these things called spreadsheets. I hear they’re pretty accurate.

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dragoni

Trump and Poor People ¯\_(ツ)_/¯

“How smart can they be? They're morons.”, Donald Trump

Mick Mulvaney

Meals on Wheels sounds great,” Mulvaney said during the White House news briefing, adding that “we're not going to spend [money] on programs that cannot show that they actually deliver the promises that we’ve made to people.”, Mulvaney: Proposed cuts to Meals on Wheels are compassionate to taxpayers
“We are going to do great things for the American people with Mick Mulvaney leading the Office of Management and Budget,” said President-elect Trump. “Right now we are nearly $20 trillion in debt, but Mick is a very high-energy leader with deep convictions for how to responsibly manage our nation’s finances and save our country from drowning in red ink. With Mick at the head of OMB, my administration is going to make smart choices about America’s budget, bring new accountability to our federal government, and renew the American taxpayer’s trust in how their money is spent.”
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Elmo Being Laid Off Due to Trump Budget Cuts

Man:  "Elmo... It does me no great joy to inform you that due to recent cuts in government funding to PBS, you are no longer employed by Sesame Street Workshop,"
Elmo:  "Just like that?! Elmo's been working at Sesame Street for 32 years!"
Man:  "Elmo, the Trump administration is cutting ALL arts and education funding from the new congressional budget."
Elmo:  "But Elmo's rent just went up!"

Trump, you promised 25 million new jobs NOT unemployment!

#Unite #Resist #TakeAction

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reblogged

Melania is hiding from Trump, so we have to kill the culture of our country.

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dragoni

AND “American taxpayers spend more than $3 million each time Trump heads to the “Winter White House”. Trump has made 5 trips to Mar-a-Lago in his first 2 months as potus. So far that’s $15 million wasted! The total cost for 2017 will be between $90 to $108 million. How hungry people could Meals on Wheels feed???

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