$5. President Donald Trump speaks during his campaign event at The Villages Polo Club, Oct. 23, 2020, in The Villages, Fla. President Donald Trump speaks at a campaign rally at North Coast Air aeronautical services at Erie International Airport on Oct. 20, 2020, in Erie, Pa. Democratic presidential nominee Joe Biden speaks while President Donald Trump, shown in reflection, listens during the final presidential debate at Belmont University on Oct. 22, 2020, in Nashville, Tenn. President Donald Trump waves at the end of a Make America Great Again rally as he campaigns in Gastonia, N.C., Oct. 21, 2020. Obligatory links: Newsletter. During the Bush presidency, federal spending rose from 17.7% to 20.2% of GDP, while revenues fell from 20.0% to 17.1% (although this compares the earlier revenue bubble with a later deep recession). The Trump campaign itself only had $43 million entering the final three weeks of the presidential election. The smaller future deficits also reflect the dubious assumption that Congress will allow taxes to rise substantially for lower- and middle-class families when much of the 2017 tax cuts are set to expire at the end of 2025. "Especially a NEW car," answered one. The CBO-projected budget deficits for the final half of the 20172027 period did improve under President Trumps watch, but these savings may prove illusory because they are based on economic and technical re-estimates rather than legislation. start buying! Tom Brady Is a Rickety Old Man Still Chasing the Dragon. Those factors saved $400 billion over the decade under President Obama and $3.9 trillion over the decade for President Trump. 2023 Vox Media, LLC. Sell Buy Book. Trump's latest FEC filing shows that an outsized portion of his campaign expenditures in July$8.4 million out of $18.5 millionwent to Giles-Parscale, a small web services outfit in San . You can track Donald Trump's spending at SpendingTracker.org. Critics say political spending at Trump properties, including that from the president's own campaign, is a conflict of interest, but the campaign and the Republican Party have maintained that there's nothing wrong with the practice since they pay market rates for venues and report the expenditures as required by law. Saving and Making Money 'I halved the weekly food bill for my family - and now save 200 a month'. [19] Over the previous two presidencies, the vast majority of new deficit-expanding bills has been enthusiastically bipartisan. Why There (Probably) Wont Be a Recession This Year. These included $3.9 trillion in economic and technical budget savings over the decade, declining defense costs, a soaring economy, and a Republican Congress that had long promoted deficit reduction. We have concerts that are doing a lot better than this, a source told the website, noting that Bad Bunny and Kane Brown concerts at the same venue in Orlando have already sold out. The Administration cites the need to restrain spending as its way to address our unsustainable debt trajectory. Olivia Nuzzi, New Yorks Washington correspondent, said that she has received 19 fundraising texts in the last seven days. Yet Trump instead enacted $7.8 trillion in new initiatives, pushing the debt steeply upward. In 2019, he signed the "Bipartisan Budget Agreement," which raised statutory budget caps by roughly $320 billion. Former President . It's a straight-up DEPRECIATING asset! Another $21 million was spent on fundraising consulting. One complication is that the mandatory and revenue changes in CBOs year-end report did not always match the sum totals included in the CBO baseline updates. Bidens Document Blunder Is Nothing Like Trumps Crime. Take full advantage of our site features by enabling JavaScript. The federal government's cap on the amount it can borrow to meet funding needs is approaching fast. $99 . Etsy uses cookies and similar technologies to give you a better experience, enabling things like: Detailed information can be found in Etsys Cookies & Similar Technologies Policy and our Privacy Policy. Per Politico, the Trump-OReilly dynamic duo are struggling to fill seats. "Trump declared his 2020 candidacy on his first day of office and has been raising money ever since," said Brendan Fischer, the director of federal reform at Campaign Legal Center, a Washington-based nonpartisan group. What would you spend it on? He also served as a director of budget and spending policy for Marco Rubios presidential campaign and was the lead architect of the ten-year deficit-reduction plan for Mitt Romneys presidential campaign. But his retail skills against a master like Trump are unproven. They came on the same day, Feb. 22, for a total $130,000piddling compared to the nearly $70 million the committee transferred to Trump just three days prior. Thus, all analyzed presidents are measured under the same 10-year methodology. This analysis of President Trumps fiscal record begins with the January 2017 Congressional Budget Office (CBO) budget baseline that the president inherited. Donald Trump and his family. You can change your preferences any time in your Privacy Settings. Social Security and Medicare shortfalls drive virtually the entire $112 trillion projected deficit over the next three decades. Hes also soliciting donations to this PAC via text message and email. President Trumps Regulatory Relief Helps All Americans, This Is How Much Overregulation Would Cost Your Family Each Year, Text of a Letter to the Speaker of the House of Representatives and the President of the Senate, Executive Order on Adjustments of Certain Rates of Pay, Letter from the President to the Speaker of the House of Representatives and the President of the Senate, Presidential Veto Message to the House of Representatives for H.R. Its not dissimilar to the fake credit card that came with your toy cash register you loved to play with when you were a kid. These gold-lettered red pieces of plastic will go for $20-$50 a pop. Plus, nobody gives a second thought to what you drive!". This adds up fast from January 20 to April 30, the Secret Service spent over $40,000 at his Florida club. The statistics for the entirety of Donald Trump's time in office are nearly all compiled. The Pentagon Will Start Looking Back in Time for UFOs. Kevin McCarthy Pays Off Marjorie Taylor Greene and Paul Gosar. This includes more than $600,000 -- or more than $24,000 a month -- to RNC Chairwoman Ronna McDaniel and $372,000 -- or roughly $20,000 monthly -- to Trump campaign communications director Tim Murtaugh. If interest rates continue risingor if the post-pandemic economic recovery is slower than expectedthose trillions of dollars in projected savings could vanish. This provides the 10-year (20172027) default projection of spending and revenues against which to measure his record. AirPods Pro USD 249 Sell 0 Buy Nintendo Switch USD 299 Hes still solid at 45, but Monday nights debacle in Dallas was hard to watch and a sign of things to come. Mr. Trump is taking hits for his switcheroo last week on self-funding his campaign. Despite the discounted asking price for the St. Martin estate, Trump has been struggling to find a buyer. American Made Media Consultants, which was set up and run by campaign leadership in 2018, is the single biggest recipient of the Trump reelection effort's money, receiving much of the massive advertising and paid media expenditures -- a whopping $453 million over the last two years, mostly for media placement and advertising, including $68 million in just the first two weeks of October. Even with modest interest rates, interest is projected to become the largest expenditure in the federal budget and consume half of all tax revenues within three decades.[26]. Former president Donald Trump is always running several cash-generating schemes. Etsys 100% renewable electricity commitment includes the electricity used by the data centers that host Etsy.com, the Sell on Etsy app, and the Etsy app, as well as the electricity that powers Etsys global offices and employees working remotely from home in the US. 1/16/2023 war in ukraine President Donald Trump pardons former Congressman Duncan Hunter, who spent campaign money on personal expenses, including video games. The Administration cites the need to restrain spending as its way to address our unsustainable debt trajectory. What would you do with 100 billion dollars? Previously, he worked for six years as chief economist to Senator Rob Portman (R-OH) and as staff director of the Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth. In January 2001, President Bush inherited a projected $5.9 trillion budget surplus over the 20012011 period. The vast majority of the money spent during that time -- nearly $45 million -- went to television and online advertising, according to the latest disclosure report filed to the Federal Election Commission, as Biden and pro-Biden efforts ramped up his ad spending. Brian Riedl is a senior fellow at the Manhattan Institute, focusing on budget, tax, and economic policy. Legislation cost $6,908 billion, while economic and technical changes cost the remaining $3,378 billion:[31]. Etsy is powered by 100% renewable electricity. "It's one of the worst investments ever. $12. The only post-TCJA concerns over fiscal issues arose when two-thirds of House Republicans voted against the 2019 legislation again raising the discretionary spending caps, mostly due to deficit concerns. Much of the payments are shrouded in secrecy by a host of obscure LLCs that are hard to connect to specific individuals that receive payments under general descriptions like "consulting," "services" or "research," which is common among many campaigns and groups across the aisle. Adams Says New York Cannot Take More Asylum Seekers. Incredibly, its not the only time he proposed attacking another country, then pretending it wasnt him. And like other recent presidents, President Bush (despite prioritizing Social Security reform) was not able to put entitlements on a sustainable long-term path. In 2019 alone, the Trump Administration surpassed its promise of removing two existing regulations for each new regulation added, issuing 150 deregulatory actions alongside just 35 new significant regulatory actions. Perhaps most importantly, four more years were lost by failing to enact Social Security and Medicare solvency reforms just as more of the 74 million baby boomers retired into those systems. And during the Trump presidency, much of the $8 trillion in enacted legislation was passed by overwhelmingly bipartisan Congressional majorities. Under President Trump, Congress passed the first overhaul of the United States tax code in more than 30 years, putting money into the pockets of millions of American families. This method ensured that every bill (and line-item) could have an interest cost assigned to it and that each year would have its own uniform interest rate. Turning off the personalized advertising setting wont stop you from seeing Etsy ads or impact Etsy's own personalization technologies, but it may make the ads you see less relevant or more repetitive. Nearly all proposed savings came from repealing and replacing Obamacare, as well as vague promises to cut domestic discretionary spending nearly in half. Stabilizing the national debt as a share of the economy without reforming Social Security and Medicare would eventually require choosing between options such as a 33% payroll tax rate or a 34% value-added tax. Refusing to reform Social Security and Medicare over these four years will eventually make the inevitable reforms more expensive and painful. John Kelly was forced to deal with 'fights' between Melania and Ivanka Trump as they competed for influence, NYT journalist says. In fact, each of the eight bills passed the Senate with the majority support of both Republicans and Democrats. (For example, these inherited 10-year baseline projections have ranged from a $6 trillion surplus for President George W. Bush to an incoming $10 trillion deficit for President Trump.) Another significant chunk -- $208 million -- has gone to the campaign and the Republican Party's direct mail operation, a more traditional form of advertising. The Speaker has forgiven the violent remarks of Paul Gosar and Marjorie Taylor Greene. Then on Monday night, he couldn't hit anything. 6395, Signed the Tax Cuts and Jobs Actthe largest tax reform package in history, More than 6 million American workers received wage increases, bonuses, and increased benefits thanks to tax cuts, A typical family of four earning $75,000 received an income tax cut of more than $2,000slashing their tax bill in half, Doubled the standard deductionmaking the first $24,000 earned by a married couple completely tax-free, Virtually eliminated the unfair Estate Tax, or Death Tax, Cut the business tax rate from 35 percentthe highest in the developed worldall the way down to 21 percent, Small businesses can now deduct 20 percent of their business income, Businesses can now deduct 100 percent of the cost of their capital investments in the year the investment is made, Since the passage of tax cuts, the share of total wealth held by the bottom half of households has increased, while the share held by the top 1 percent has decreased, Over 400 companies have announced bonuses, wage increases, new hires, or new investments in the United States, Over $1.4 trillion was repatriated into the United States from overseas, Lower investment cost and higher capital returns led to faster growth for the middle class, higher real wages, and stronger international competitiveness, Created nearly 9,000 Opportunity Zones where capital gains on long-term investments are taxed at zero, Opportunity Zone designations have increased property values within them by 1.1 percent, creating an estimated $11 billion in wealth for the nearly half of Opportunity Zone residents who own their own home, Opportunity Zones have attracted $75 billion in funds and driven $52 billion of new investment in economically distressed communities, creating at least 500,000 new jobs, Approximately 1 million Americans will be lifted from poverty as a result of these new investments, Private equity investments into businesses in Opportunity Zones were nearly 30 percent higher than investments into businesses in similar areas that were not designated Opportunity Zones, Instead of a 2-for-1 ratio of deregulatory to regulatory actions, the Trump Administration eliminated 8 old regulations for every new regulation adopted, These actions provided the average American household with an extra $3,100 every year, Reduced the direct cost of regulatory compliance by $50 billion and were projected to reduce costs by an additional $50 billion in FY 2020 alone, Removed nearly 25,000 pages from the Federal Registermore than any other president. 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