Give somebody almost $10 trillion of phony money, and even an idiot can keep an economy at status quo.
$10 trillion could have almost bought Japan, Germany and the UK. At the rate Germany and the UK are going, soon the will be sold for pennies on the dollar.
To put it mildly, Obama is a fiscal idiot.
America got nothing for our troubles. And the man who promised to cut the budget in half by the end of his first (and what should have been his only) term, Obama covered America’s problem by spending.
While I admit that I’m not happy with President Trump’s first year budget, what I do like are the results thus far.
Recently, the Treasury reported a surplus. Here’s what TBS wrote recently on that subject:
Tax cuts work. And much to the chagrin of Democrats.
When people get their money back, they tend to spend it on tax-generating actions. And that’s just what’s happened under the Trump tax plan.
According to CNS News,
The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.
January was the first month under the new tax law that President Donald Trump signed in December.
During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.
Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the month with a deficit of approximately $224,955,000,000.
“President Trump has reached an informal deal with Boeing on a fixed-price contract for the new Air Force One Program,” Deputy Press Secretary Hogan Gidley told Reuters. He said the contract will save taxpayers more than $1.4 billion, but those savings could not be independently confirmed.
What I like about President Trump is his attention to the marketing of the details.
During the campaign, Trump has said Boeing’s costs to build replacements for Air Force One aircraft were too high and urged the federal government in a tweet to “Cancel order!” Due to the high-profile nature of Air Force One jets, Trump’s declaration resonated.
Boeing certainly got the message.
“President Trump negotiated a good deal on behalf of the American people,” Boeing said in a news release.
The Left accused President Trump of political theater, much like they decried when Trump saved Carrier.
“There’s no evidence of a discount,” said Richard Aboulafia, vice president of analysis at Teal Group.
I’d call what he said, “political jealousy”.
But President Trump goes further.
Recently, the Trump administration released their annual report to Congress on White House Office Personnel. The report includes the name, status, salary and position title of all 377 White House employees. Keep in mind, Trump’s staff represents 110 less people than Obama’s at this point in their presidencies. Thus, the total annual White House salaries under Trump are $35.8 million vs. $40.9 million under Obama, a savings of $5.1 million.
The First Lady follows suit.
Currently, there are only five staffers dedicated to Melania Trump vs. 24 staffers who served Michelle Obama (FY2009)
Finally, as most people know now, President Trump takes no salary. Instead, he donates his salary to various government agencies. By contrast, Obama used the Fed like his personal piggy bank.
Expect the next economic report to be even better. And these are the results people will remember in November.