Economic News

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ChileG said:
We have to base it on what actually happens.
MAGA (and others) desperately wanted to give credit to Trump for the DOGE savings and tariff revenue, but the true metric is - did the deficit increase or decrease?
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I may be wrong, but I believe the deficit actually went down slightly for FY 2025. Perhaps tariffs helped a bit?
 
Us old codgers are getting a 2.8% increase in our monthly checks next year. However, I read that the Medicare part B premium increase will be $21/month next year.
 
ChileG said:
This is why I said when Trump was elected that we can’t count Trump victories based on claims he makes. We have to base it on what actually happens.
MAGA (and others) desperately wanted to give credit to Trump for the DOGE savings and tariff revenue, but the true metric is - did the deficit increase or decrease?
We killed a bunch of needed programs and still went deeper into debt because any savings or revenue gains were more than offset by tax breaks for those that don’t need them.
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Well I'm sure that his methods work for everyone.

I'm sure the average person can cut their Netflix subscription to fix the issue with not having enough money to pay the mortgage, right?
 
BlueSmoke said:
I may be wrong, but I believe the deficit actually went down slightly for FY 2025. Perhaps tariffs helped a bit?
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They definitely did. Trump's massive tax increase on working class Americans more than offset the higher spending from 2024 to 2025.

www.americanactionforum.org

U.S. Treasury: FY 2025 Deficit Totaled $1.8 Trillion - AAF

The U.S. Treasury released its final Monthly Treasury Statement for FY 2025, estimating a $1.8 trillion deficit for the year. The deficit was the net effect of $7.0 trillion of spending and $5.2 trillion of revenue collections.
www.americanactionforum.org www.americanactionforum.org

The $41 billion reduction in the deficit between FY 2024 and FY 2025 was the result of $186 billion higher mandatory and discretionary spending and $89 billion higher interest payments on the national debt that was more than offset by $317 billion in greater revenue collections.

Revenue collections increased by $317 billion between FY 2024 and FY 2025, growing from $4.9 trillion (17.1 percent of GDP) to $5.2 trillion (17.0 percent of GDP). Individual income tax revenue increased by $230 billion (9 percent), from $2.4 trillion to $2.7 trillion. Payroll tax revenue – which primarily comes from the 12.4 percent Social Security payroll tax and the 2.9 percent Medicare payroll tax – increased by $39 billion (2 percent) to $1.7 trillion. Specifically, Social Security payroll tax revenue grew by $24 billion (2 percent) to $1.3 trillion, while Medicare payroll tax revenue increased by $8 billion (2 percent), from $387 billion to $395 billion. Other payroll tax revenue grew by $7 billion (11 percent), from $62 billion to $69 billion. Estate and gift tax revenue fell by $2 billion (7 percent), from $32 billion to $29 billion.

Corporate income tax revenue declined by $78 billion (15 percent), from $530 billion to $452 billion, driven in part by a provision in the One Big Beautiful Bill that allowed businesses to take larger tax deductions for certain investments in 2025. In addition, a delay in tax payments for corporations located in areas affected by natural disasters shifted corporate income taxes that would’ve been collected in FY 2023 into FY 2024, thus inflating the amount of corporate income tax revenue collected in FY 2024.

Excise tax revenue grew by $5 billion (4 percent), from $101 billion to $106 billion. Customs duties surged by $118 billion (153 percent), from $77 billion to $195 billion, because of the Trump Administration’s tariffs. Revenue from other sources grew by $5 billion (11 percent), from $43 billion to $48 billion. Specifically, remittances from the Federal Reserve to the U.S. Treasury grew by $2 billion (75 percent), from $3 billion to $5 billion.
 
lawtig02 said:
They definitely did. Trump's massive tax increase on working class Americans more than offset the higher spending from 2024 to 2025.

www.americanactionforum.org

U.S. Treasury: FY 2025 Deficit Totaled $1.8 Trillion - AAF

The U.S. Treasury released its final Monthly Treasury Statement for FY 2025, estimating a $1.8 trillion deficit for the year. The deficit was the net effect of $7.0 trillion of spending and $5.2 trillion of revenue collections.
www.americanactionforum.org www.americanactionforum.org

The $41 billion reduction in the deficit between FY 2024 and FY 2025 was the result of $186 billion higher mandatory and discretionary spending and $89 billion higher interest payments on the national debt that was more than offset by $317 billion in greater revenue collections.

Revenue collections increased by $317 billion between FY 2024 and FY 2025, growing from $4.9 trillion (17.1 percent of GDP) to $5.2 trillion (17.0 percent of GDP). Individual income tax revenue increased by $230 billion (9 percent), from $2.4 trillion to $2.7 trillion. Payroll tax revenue – which primarily comes from the 12.4 percent Social Security payroll tax and the 2.9 percent Medicare payroll tax – increased by $39 billion (2 percent) to $1.7 trillion. Specifically, Social Security payroll tax revenue grew by $24 billion (2 percent) to $1.3 trillion, while Medicare payroll tax revenue increased by $8 billion (2 percent), from $387 billion to $395 billion. Other payroll tax revenue grew by $7 billion (11 percent), from $62 billion to $69 billion. Estate and gift tax revenue fell by $2 billion (7 percent), from $32 billion to $29 billion.

Corporate income tax revenue declined by $78 billion (15 percent), from $530 billion to $452 billion, driven in part by a provision in the One Big Beautiful Bill that allowed businesses to take larger tax deductions for certain investments in 2025. In addition, a delay in tax payments for corporations located in areas affected by natural disasters shifted corporate income taxes that would’ve been collected in FY 2023 into FY 2024, thus inflating the amount of corporate income tax revenue collected in FY 2024.

Excise tax revenue grew by $5 billion (4 percent), from $101 billion to $106 billion. Customs duties surged by $118 billion (153 percent), from $77 billion to $195 billion, because of the Trump Administration’s tariffs. Revenue from other sources grew by $5 billion (11 percent), from $43 billion to $48 billion. Specifically, remittances from the Federal Reserve to the U.S. Treasury grew by $2 billion (75 percent), from $3 billion to $5 billion.
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So raising taxes can reduce the deficit?

Imagine that. Maybe had he not lowered taxes on the billionaires he could have done even better.

I can also see how the DOGE cuts really impacted those numbers, the deficit might have been .001% higher without all those people being fired and the aid money withheld.
 
UNCatTech said:
So raising taxes can reduce the deficit?

Imagine that. Maybe had he not lowered taxes on the billionaires he could have done even better.

I can also see how the DOGE cuts really impacted those numbers, the deficit might have been .001% higher without all those people being fired and the aid money withheld.
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Yeah, for all its bluster, DOGE was a pimple on the ass of our national finances. It made no material impact on the debt or deficit. It was highly effective, though, at ruining federal employees' lives, crippling our ability to function as a government, and killing off tens of thousands of black and brown foreigners through starvation.
 
BlueSmoke said:
I may be wrong, but I believe the deficit actually went down slightly for FY 2025. Perhaps tariffs helped a bit?
Click to expand...
It’s not that you “may” be wrong… you ARE wrong. Dead wrong. Tariffs haven’t done squat to help the bottom line for 99% of American households. The deficit may have gone down slightly, but at the expense of taxpayers. The cost of living has gone up, not down since trump 2.0
 
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