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US budget deficit tops $1 trillion as government spending increases


GO BACK TO THE CLINTON ADMINISTRATION. LET’S GET THE READ AGAIN FROM OUR PANELISTS. HAROLD FORWARD JR HAROLD FORDARD JR HAROLD FORD RD JR HAROLD FORD JR JR HAROLD FORD JR.,R HAROLD FORD JR., LEE CARTER, CHARLIE GASPARINO. I’M LOOKING AT THESE CROSS-CURRENTS AND SAYING NOWHERE IS THIS IN THE TOP TEN LIST FOR VOTERS. IT’S DEAD, THE DEFICIT. IT’S A BIG DEAL FOR ME BECAUSE I HAVE BEEN FOCUSED ON IT FOR SO MANY YEARS, WE TEND TO NOT HAVE ANY PROBLEM WITH THIS.>>SINCE THE ’08 CRISIS, EVERYDAY AMERICANS, THE PROBLEMS WITH THE ECONOMY, THE HOUSING CRISIS, WE WILL TALK ABOUT THE DEBT WHEN WE GET BACK ON OUR FEET. TRUMP AND THE CAMPAIGN IN 2016 MADE IT CLEAR HE WAS NOT GOING TO CUT MEDICARE, SOCIAL SECURITY, MEDICAID. HE STOOD FIRM BY THAT. NEIL: HAD HE DONE THAT, HE PROBABLY WOULD NOT HAVE BEEN ELECTED.>>RIGHT. ALSO, HE WOULD BE FACING A BIG, BIG NUMBER. THE REAL TRAGEDY OF THE NUMBERS, WE AREN’T LOOKING AND SAYING WE INVESTED HEAVILY INTO INFRASTRUCTURE, IN NEW SCHOOLS, NEW BROADBAND SO WE WILL SEE IT PAY OFF OVER THE NEXT 10, 15 YEARS. NEIL: HOW ARE OUR DEFICIT ANY WORSE THAN BARACK OBAMA?>>I’M NOT MAKING THIS PART STAND. NEIL: TOO BAD.>>THE TRUTH IS, THAT’S A PROBLEM. NOW, DONALD TRUMP WILL HAVE TO ANSWER THESE QUESTIONS. HE WILL NOT HAVE REPUBLICANS RAISING IT. HE WILL HAVE DEMOCRATS WHO WILL HAVE A HARDER TIME BECAUSE LIBERALS WANT TO GROW THIS THING MORE.>>THAT’S RIGHT.>>HE WILL SAY CONGRESS DIDN’T CUT THE BUDGET ENOUGH, WE NOW HAVE A DIVIDED CONGRESS. I KNOW HE AT FIRST HAD REPUBLICANS IN THERE. HE WILL ALSO SAY THERE WAS A PAYOFF TO THIS. WE SPENT MONEY, THIS WAS KEYNESIAN, WE CUT TAXES AND UNEMPLOYMENT IS NOW 3.5%. REMEMBER THERE WAS A PAYOFF HERE. YOU GOT A DECENT ECONOMY THROUGH SPENDING AND IT WAS CONGRESS’S FAULT THEY DIDN’T COME BACK WITH MY BUDGETS THAT HAD LOTS OF CUTS TO GO THROUGH — TO GO THROUGH. NEIL: HE DIDN’T HAVE LOTS OF CUTS TO GO THROUGH.>>HE WILL SAY HE DID. NEIL: BUT HE DIDN’T. YOU HAVE TO BE VERY CAREFUL, CHARLIE.>>I AGREE WITH YOU. NEIL: I’M JUST SAYING THAT WE LIVE, DIRECT TO YOUR BOOK, RIGHT, PERSUASION VERSUS THE FACTS HERE. THE FACTS ARE THAT HE LET IT ALL HAPPEN. NOW, HE ALSO RAILED AGAINST THIS UNDER BARACK OBAMA, WHO ALSO RAILED AGAINST THIS UNDER GEORGE BUSH, AND THE LAST PRESIDENT TO EFFECTIVELY DEAL WITH IT, NOT ENTIRELY ON HIS OWN, BUT GOT TO GIVE HIM CREDIT, BILL CLINTON WORKING WITH NEWT GINGRICH. I DON’T SEE ANY OF THAT TODAY.>>THE PROBLEM IS NOBODY CARES. PEOPLE WILL TACKLE THE ISSUE — NEIL: I CARE.>>I KNOW, BUT REALLY, YOU PUT IT ON PEOPLE’S TOP ISSUES, IT WILL BE THE ECONOMY, HEALTH CARE, TRADE. NEIL: CHARLIE AND I ARE SAFE. WE WILL GET THE SOCIAL SECURITY. BUT I HAVE A VERY YOUNG CREW. YOU COULD ADD UP THEIR AGES ALL TOGETHER AND THEY ARE STILL HALF MY AGE.>>GOING BACK TO PERSUASION, WE HAVE TO MAKE PEOPLE CARE ABOUT THIS. BECAUSE IT’S GOING TO TAKE THAT. WE’RE NOT GOING TO BE ABLE TO GET ALL THE THINGS WE WANT AND IT’S HARD. NEIL: IT TOUTS THE VIRTUE OF JUST LYING.>>NO, IT DOES NOT. NEIL: YES IT DOES, IN THE FACE OF FACTS.>>ONE OF THE PROBLEMS WITH MAKING THE DEFICIT AN ISSUE IS THAT FROM THE ACADEMIC ECONOMIC STANDPOINT, IT’S NOT. THERE IS AN ECONOMIC — ACADEMIC STRAIN IN THE DEMOCRATIC PARTY THAT SAYS DEFICITS DON’T MATTER. THE FED COULD BUY ALL THE DEBT. I DON’T REMEMBER THE NAME OF THAT TERM. THERE’S THIS WHOLE NEW SCHOOL OF LIBERAL PROGRESSIVE — NEIL: WELL, TO YOUR POINT, WITH THE STRONG ECONOMY –>>LARRY KUDLOW WILL COME BACK TO YOU AND SAY WE ARE GOING TO CUT TAXES MORE AND THAT WILL GROW THE ECONOMY. NEIL: THERE WAS A TIME WHEN LARRY KUDLOW WAS WORRIED ABOUT DEFICITS.>>I KNOW THAT. NONE OF THEM — NO ONE IS WORRIED ABOUT IT, TO LEE’S POINT. THIS IS SOMETHING EVERYONE IS GOING TO LET GO. FRANKLY, IF YOU WERE A CYNIC, YOU WOULD SAY MR. PRESIDENT, YOU HAVE A TRILLION DOLLAR DEBT BUT YOU DIDN’T GET A WALL. HOW DID YOU NOT GET A WALL AND SPEND A LITTLE MORE MONEY WITH ALL THAT MONEY BEING SPENT?>>EXACTLY.>>THE NUMBERS ARE SO BIG AND PEOPLE HAVE BEEN HEARING ABOUT THIS FOR SO LONG, IT’S LIKE THE BOY WHO CRIED WOLF. LIKE I DON’T KNOW WHAT THAT MEANS. IT’S A LOT OF MONEY. I DON’T CARE. NOTHING BAD’S HAPPENED YET. WHEN SOMETHING BAD HAPPENS, I’LL WORRY. NEIL: WE OWE THIS MONEY TO OURSELVES. WE’RE NOT PAYING.>>IT’S LIKE MONOPOLY MONEY.>>THAT’S EXACTLY THE POINT. NEIL: ALL RIGHT. I DO WANT TO ASK YOU ALSO ON THIS TRADE ISSUE ABOUT HOW THIS COMES INTO PLAY BECAUSE THAT IS THE PRESIDENT’S ARGUMENT FOR GOOSING THE ECONOMY, THEN THAT’S GOING TO HELP THE DEBT. I DON’T KNOW HOW THAT ALL SORTS OUT BUT THAT’S EXACTLY WHAT WE ARE GOING TO EXPLORE AFTER THIS QUICK BREAK.

Stephen Childs

100 Comments

  1. Wasnt the Democratic party the only party in the last 50 years to balance the budget and had surplus under their watch but the gop says that they are the true fiscally responsible party what a joke

  2. gop we hate you obama for adding 10 trillion to the debt wait until we get in now we are going to out spend you in just two years you gotta love this

  3. The debt is a huge deal. Republicans in eight years under Obama, desperately told the minions they wanted a balanced budget amendment. Three years under Trump, not a peep. Bushes recession will be peanuts, compared too the damage Trump is causing. Why do you think so many congressmen are jumping ship.

  4. For eveyone information obama didnt bail out wallstreet that was gop president named george w bush in 2008 for everyone in this comment selection blaming the 2007 great recession on obama idiots

  5. To be honest here… we now have more Working Americans Paying Taxes than ever before in History, if the FED goes to Zero and Tax Cuts by next summer come through… we will start paying back what we owe… to do this we First need Voter ID's so that NO Democrat can get Elected EVER AGAIN!

  6. Pay back foreign bankers who "stoled" our money" nope" just crash world economy give them nothing ! Not going to happen
    It's just a rolling unstoppable number for politicians.

  7. WHY Worry ??? 😂🤣😂 DemoCracks & Congress Voted on 💰💰💰💰💰
    An they Don't Care !!! FACT !!! An they Want More !!! 😂🤣😂
    SUCKER'S 😂🤣😂. They also want ILEGAL'S to take OVER your JOB'S 😂🤣😂
    AntiChrist Obama 🔥 👹🔥 took Congress for a Dirty Ride !!! 💰💰💰💰💰💰💰💰💰He Took From US 💀🇺🇸💀😥😥😥

  8. NASA budget just for 2019. 21.5 Billion. While democrats want to raise tax to pay Social Security. We can not afford NASA anymore. We can not afford democrats anymore.

  9. There are 22 Trillion missing from the pentagon when President Trump took office. Explain that? Obarry gutted the military. What happened? He also raised the deficit 10 trillion in 8 years.

  10. Our money is based on the governments promise to bond buyers to tax you in order to make the bonds good. That’s what backs US currency.

  11. US can't stop spending more than earns. And there is one reason. Being global empire is a costy thing. The only way to get the trade and budget deficit lesser is to lose status and influence overseas. Current US establishment is not ready for this.

  12. US budget deficit tops $1 trillion as government spending increases
    Now if Obama did it? Well, we all know the answer to that…don't we now.
    Fiscal conservative seems to be taking one for the team…
    Either that…or they have been sold a pup.
    A democrat in sheep's clothing

    When will anyone get it….' it's a rigged system.
    It's only an illusion of choice…
    What?, you think a 'real' republican would do a 'deal' with a communists…No, not unless it's unconditional surrender.
    This farce will end, sooner or later…the Republican party will recover from this 'psychosis'

  13. They only care when it's a fight for power just remember ppl hes only been in for four years not 12 or 16 lol TRUMP 2020

  14. WE HAVE NO DEBT SINCE FIAT MONEY IS FAKE, IMBECILE CAVUTO!! FAKE DEBT WIPED WITH A DEFAULT, CLUELESS!! ALL FAKE: FED RESERVE, IRS, TAXES, LOANS, CB, BANKS, ETC!! IF YOU FOLLOWED HIS POSTS, YOU'D BE MORE INFORMED, DUMBO!!

  15. how is paying for a wall to keep out rattlesnakes and owls coming in from mexico supposed to help?

  16. Think about the guy that wants to give everyone 1,000 dollars a month, that’s going to be good for the deficit?

  17. How can the GOP still support this President with this economic mayhem. This $1,000,000,000,000 yearly deficit is when the economy is booming.

  18. Hey slime ball Cavuto. Why don't you show a graphic of Exactly how much Deficit went up while your boy Obama was in office?

  19. If the Dems would have worked with Trump instead of playing all or games the deficit would probably be half of what it is

  20. All these illegals! Illegal immigration is wrong on so many levels! When you have over a 100,000 poor people many illegally enter your country EACH MONTH what did you think was going to happen to the deficit🤔they are a drain on money and resources a very big drain! It will only get worse. Oh but now we only have 64,000 coming through🙄and who is paying all these illegals healthcare who are here with these debilitating diseases that claim they too sick to leave?

  21. This should be a bipartisan issue. It’s time to start tackling this issue. American voters have to be willing to support the cuts that need to be made.

  22. "I don't know how that all works out". Really? You seriously dont understand how getting fair trade with the nation that owns our debt fixes the debt? Is this your first day dealing with economics?

    My finger creeps closer and closer to that unsubscribe button every single day. Fox is nearly indistinguishable MSNBS now.

  23. billion 10 to the 9th power of ten
    TRILLION 10 to the 12th power of ten
    quadrillion 10 to the 15th power of ten
    quintillion 10 to the 18th power of ten
    sextillion 10 to the 21st power of ten
    septillion 10 to the 24th power of ten
    octillion 10 to the 27th power of ten
    nonillion 10 to the 30th power of ten
    decillion 10 to the 33rd power of ten
    undecillion 10 to the 36th power of ten
    duodecillion 10 to the 39th power of ten
    tredicillion 10 to the 42nd power of ten
    quattuordecillion 10 to the 45th power of ten
    quindeclilion 10 to the 48th power of ten
    sexdecillion 10 to the 51st power of ten
    septendecillion 10 to the 54th power of ten
    octodecillion 10 to the 57th power of ten
    novemdecillion 10 to the 60th power of ten
    vigintillion 10 to the 63rd power of ten
    centillion 10 to the 303rd power of ten
    …what was that about a dictionary ceiling ???…

  24. Barack Obama's deficit was due to walking into the White House and the US was in a recession you have to spend to come out of that recession the budget is supposed to been the greatest ever right now at least that's their story but the deficit is still spiraling out of control

  25. LOL,..of course because Trump is an idiot. He's good at pretending he's rich while being bankrupt. He's doing the same for the country.

  26. L G you're a typical pay for nothing republican. Just let your children and grandchildren pay for your mistakes. The next ten generations in my family will be paying taxes for the Trump family spending alone.

  27. No one mentions the fact that how much interest the Trump administration is paying because of the Obama's administration.

  28. So be it. When a family falls upon hard times, the parents don't say "kids we're going to make you live in the car until I can pay down my debts." No! Good parents will do all it takes to make sure their kids keep having good quality of life, creditors be damned! The national debt is always a secondary issue for normal citizens. It only scares the elites who have nothing else to worry about that could hurt them. The People will go down from a thousand more pressing crises the elites will never feel long before the national debt gets us. The distant, unlikely possibility of the national debt taking everyone down is the only risk the elites suffer and they can't handle even that.

  29. Since last October, increased military spending, rising interest rates on government debt, and weak revenues earlier in the year have all caused the deficit to rise by 19%, to $1.07 trillion—compared with $898 billion a year earlier, according to data released on Thursday by the Treasury Department. Government spending rose 7% to $4.1 trillion, eclipsing federal tax receipts, which only grew 3% to $3.1 trillion.  Trump stated Balancing the budget is easy.

  30. ''Soylent Green Is People'' @Youtube w a t c h ? v = 6 z A F A – h a m Z 0

  31. Obama added $10 trillion to the debt, but it looks like Trump (if he gets a second term) will add another $10 trillion. I'm sure he'll find some way to blame Obama for this.

  32. You know you’re screwed when you have to borrow money to pay the interest on the money you already owe.

  33. People asking about tea party, that is "taxed enough already" not tax more to pay deficit. We need to realize debt won't be paid and will accelerate. China, Europe, Canada all in process of endless debt. We will all soon match Venezuela.

    The dollar value is too high, to decrease means print more, cut borrowing costs/taxes. In devaluing we get more exports which brings in money and jobs.

  34. People won't care about the deficit until we're in a depression and there's austerity across the social services.

  35. You elected trump, what else did you expect ? It's going to grow even more, don't worry.

  36. Weren't the Democrat's in House passed heavy budget bills and raised hour rate? And still sanctuary cities filled with homelessness tent's, condom's, needle's.
    Even after such STUPID spending by Democrat's, the KING President did NOT stop building Border wall and ALLOCATED funds from Pentagon & FEMA. That's a SMART way of Presidency.

    So $22,000,000,000,000 deficit isn't from 2016 and deficit increased since Bushes-Clinton's-Obama's. Why these aren't questioned?

    To recover trillions of deficit the trade tariff's are must and those thief nations must have to pay to USA. And these thieves will have to pay and there is no other option left for them.

  37. And probably half of it spent has been waste like what Congress has been doing for the last two and a half years with Russian collusion and investigations that have not helped one single American person the country and so on but no matter what happens they just keep pushing the stupidity it has been non stop since January 2016 and still on going

  38. Well this is what happens when politicians waste and steal it faster than they collect it and it keeps growing and growing if half the political politicians in DC were gone fired it's not like they would be missed and less work would be done tell me what has Congress accomplish in the last 2.5 years nothing we could have had that with out any of them being there and being payed really I'm not kidding think about it they have turned a job that suppose to be working for the people completely upside down were the people are working to pay them for absolutely nothing in return this is exactly what's going on and they expect the American public to not be upset about it and praise them you don't need a college degree to see exactly what's going on here it's treason plain and simple bleeding the people for absolutely nothing in return that's why we have this unbelievable debt and it's so bad there is no light at the end of the tunnel sit back and watch these thiefs line there pockets while the whole country goes broke

  39. America has no idea how bad things could get if we don't reel in our spending. Greece has a 20% unemployment rate going on 8 years.

  40. The taxation ponzi scheme created by the politicians and the elite is crashing and will be the biggest mistake of Americas history. You cant keep spending more than you put in and expect to pay any of it back. All we are doing is creating an infinite debt for our future generations. Pure greed and corruption.

  41. The pentagon will need another couple trillion for Afghanistan and Iran and another trillion or two to compete with Russia and China by next year.

  42. The younger generation should be worried, but the baby boomers brainwashed alot of them. Also their liberal teachers.

  43. And we r the richest country in world smh lies lies this government is useless we need a civil war asap

  44. National debt is 105% of GDP and growing at 6% per year while GDP is growing at 2% roughly. Basically what that means is if we had a balanced budget, we would have been in a recession for the past 3 years. It annoys me to no end when these analysts talk about how great the economy is when really it's just deficit based growth. Borrowing your way to prosperity doesn't last forever but unfortunately both parties don't seem to care at all and seem intent on letting our country become the next Greece.

  45. The world's going to end in 12 years anyway according to AOC. There is not enough time to fix the debt.

  46. you news people are second guessing everything and seriously I do not care for you all slamming the only good that has happened to us normal americans in a long time. Obamas and clintons and even bush took from americans. trumps has helped americans more then anyone. your negative comments will come back to you later. TRUMP 2020

  47. We need to do the penny plan where 1 cent of every dollar we spend goes to paying Down the debt. Very simple way to address it without rocking the country

  48. How much are we spending on the illegals???? I think democrats are wanting to give them free healthcare, free college, and free housing as well.

  49. When people say jobs are growing and the economy is growing think back when Trump told his apprentice employees to lie about his ratings. He told everyone to say his rating were of the roof.

  50. America is in trouble because of debt.Small steps to pay it off.Everything should be on the table.

  51. This is what happens when you don't raise taxes. You make money in the bank less valuable, and money put into assets resilient.

  52. Funny how Fox doesnt even mention the tax cuts, as if they payed for themselves.
    Never change Faux, never change.

  53. Bitcoin? So far it looks like a pyramid scheme like only Americans and no one else can build. One day, Bitcoin will be worth zero (0), and then, you'll pick up a pitch fork but realize that there is no one and nothing behind it. Not even a government promise. Could turn Monopoly money on a dime.

  54. I still think that if we evict all the illegals and their anchor babies, than we won't need as much money for schools, lesser pollution, better quality neighbors, full employment, lower rents, all good.

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