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"Within hours, the action was challenged in a lawsuit filed on behalf of three Texas landowners, saying that Trump’s declaration violates the U.S. Constitution and that the planned wall would infringe on their property rights." The Trump Administration plans to divert $3.5 billion in defense department funds towards the wall through this national emergency and $8 billion in total funds from a variety of sources. The $8 billion also includes $1.4 billion from the recent budget deal to reopen the government (after the longest shutdown in history) and approximately $600 million from a treasury department asset forfeiture fund. Illegal immigration from Mexico is at a 46 year low and has been steadily declining, and 650 miles of border wall already exist along the U.S. Mexico border, with natural barriers along much of the rest. [post_title] => President Trump Declares National Emergency To Fund New Sections Of Border Wall With Mexico [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => president-trump-declares-national-emergency-to-fund-new-sections-of-border-wall-with-mexico [to_ping] => [pinged] => [post_modified] => 2019-02-23 15:45:26 [post_modified_gmt] => 2019-02-23 15:45:26 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2756 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [1] => WP_Post Object ( [ID] => 2744 [post_author] => 1 [post_date] => 2019-02-10 13:12:58 [post_date_gmt] => 2019-02-10 13:12:58 [post_content] => The third government shutdown under President Trump ended on January 25, 2019 after 35 days, making it the longest government shutdown in history. "The U.S. economy lost at least $6 billion during the partial shutdown of the federal government due to lost productivity from furloughed workers and economic activity lost to outside business, S&P Global Ratings said on Friday [January 25, 2019]." The bill to reopen the government only lasts until February 15th, but it does contain provisions for retroactive pay for employees that did not receive paychecks during the shutdown. [post_title] => Third Government Shutdown Under Trump Is Longest Ever, Cost U.S. Economy $6 Billion [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => third-government-shutdown-trump-longest-ever-cost-u-s-economy-6-billion [to_ping] => [pinged] => [post_modified] => 2019-02-10 13:12:58 [post_modified_gmt] => 2019-02-10 13:12:58 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2744 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 2748 [post_author] => 1 [post_date] => 2019-02-09 15:03:38 [post_date_gmt] => 2019-02-09 15:03:38 [post_content] => The Congressional Budget Office, a non-partisan group employed by Congress to provide budget and economy forecasts and analysis.  Their 2019 Economic Outlook Report provides a detailed analysis on government spending and economic growth in the United States.  Key points in this report include:
  • "The federal budget deficit is about $900 billion in 2019 and exceeds $1 trillion each year beginning in 2022. Over the coming decade, deficits...fluctuate between 4.1 percent and 4.7 percent of gross domestic product (GDP), well above the average over the past 50 years."
  • "Because of persistently large deficits, federal debt held by the public is projected to grow steadily, reaching 93 percent of GDP in 2029 (its highest level since just after World War II) and about 150 percent of GDP in 2049—far higher than it has ever been."
  • "Federal outlays...are projected to climb from 20.8 percent of GDP in 2019 to 23.0 percent in 2029. The aging of the population and the rising cost of health care contribute significantly to the growth in spending for major benefit programs, such as Social Security and Medicare."
  • After 2019, annual economic growth is projected to slow to between 1.7 and 1.8 percent until 2029, below the potential growth levels projected by the CBO.
  [caption id="attachment_2749" align="aligncenter" width="787"] SOURCE: Congressional Budget Office (See Below Citations)[/caption] [post_title] => Congressional Budget Office 2019 Economic Outlook Report: Budget Deficit Over $1 Trillion Per Year, Well Above Average; Debt Projected To Be 93% Of GDP (Highest Since WWII); Government Spending Increasing; Economic Growth Projected To Slow To 1.7% Through 2023 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => congressional-budget-office-2019-economic-outlook-report-budget-deficit-1-trillion-per-year-well-average-debt-projected-93-gdp-highest-since-wwii-government-spending-increas [to_ping] => [pinged] => [post_modified] => 2019-02-09 15:24:27 [post_modified_gmt] => 2019-02-09 15:24:27 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2748 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 2747 [post_author] => 1 [post_date] => 2019-02-09 14:42:56 [post_date_gmt] => 2019-02-09 14:42:56 [post_content] => 1 year after the Republican "Tax Cut And Jobs Act" took effect, "The National Association of Business Economics' quarterly business conditions poll, published on Monday [January 28, 2019], found that while some companies reported accelerating investments because of lower corporate taxes, 84 percent of respondents said they had not changed plans [for capital investments or new hiring]."   "The lower tax rates, however, had an impact in the goods producing sector, with 50 percent of respondents from that sector reporting increased investments at their companies, and 20 percent saying they redirected hiring and investments to the United States from abroad." [post_title] => 84% Of Businesses Report No Change To Capital Investments Or Hiring Because Of Republican Tax Cut Plan, According To National Association Of Business Economics Poll [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => 84-businesses-report-no-change-capital-investments-hiring-republican-tax-cut-plan-according-national-association-business-economics-poll [to_ping] => [pinged] => [post_modified] => 2019-02-09 14:42:56 [post_modified_gmt] => 2019-02-09 14:42:56 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2747 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [4] => WP_Post Object ( [ID] => 2719 [post_author] => 1 [post_date] => 2018-12-23 13:13:09 [post_date_gmt] => 2018-12-23 13:13:09 [post_content] => The third government shutdown of Trump's Presidency took effect on Saturday December 22, 2018 "after the House and Senate failed to reach a compromise on a short-term funding plan to keep the government running through early next year. The key stumbling block: Senate Democrats opposed President Donald Trump’s $5.7 billion request for building a wall on the southern border." While this is the 20th government shutdown since the Budget Act of 1974, "no other administration...has overseen a government shutdown that included federal employees being furloughed." "There have been shutdowns where one party has controlled all three parts of the government, all under President Jimmy Carter in the 1970s. But during those shutdowns, no government employees were sent home without pay, known as being on furlough." One shutdown occurred during Obama's Presidency, but Democrats controlled the Presidency and the House, with Republicans controlling the Senate. [post_title] => Federal Government Shutdown On December 22, 2018 For Third Time Under President Trump, 20th Time Ever; 3 Shutdowns Under Trump First Time Government Employees Furloughed When 1 Party Controls House, Senate, And Presidency [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => federal-government-shutdown-december-22-2018-third-time-president-trump-20th-time-ever-3-shutdowns-trump-first-time-government-employees-furloughed-1-party-controls-house-s [to_ping] => [pinged] => [post_modified] => 2018-12-23 13:15:19 [post_modified_gmt] => 2018-12-23 13:15:19 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2719 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [5] => WP_Post Object ( [ID] => 2673 [post_author] => 1 [post_date] => 2018-10-13 12:29:21 [post_date_gmt] => 2018-10-13 12:29:21 [post_content] => Ford CEO Jim Hackett has noted Trump's tariffs on aluminum and steel "took about $1 billion in profit from us -- and the irony is we source most of that in the U.S. today anyways.” Ford announced it would be making layoffs as a result, but the total number of jobs to be cut is unknown. [post_title] => Trump Metal Tariffs Have Cost Ford Automotive $1 Billion And Will Result In Layoffs [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => trump-metal-tariffs-cost-ford-automotive-1-billion-will-result-layoffs [to_ping] => [pinged] => [post_modified] => 2018-10-13 12:29:21 [post_modified_gmt] => 2018-10-13 12:29:21 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2673 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [6] => WP_Post Object ( [ID] => 2631 [post_author] => 1 [post_date] => 2018-07-27 16:40:38 [post_date_gmt] => 2018-07-27 16:40:38 [post_content] => "The Office of Management and Budget said this month that it had revised its forecasts from earlier this year to account for nearly $1 trillion of additional debt over the next decade — on average, almost $100 billion more a year in deficits." "The reason is President Trump’s tax cuts. The law introduced a standard corporate rate of 21 percent, down from a high of 35 percent, and allowed companies to immediately deduct many new investments. As companies operate with lower taxes and a greater ability to reduce what they owe, the federal government is receiving far less than it would have before the overhaul." On February 12, 2018 the White House released a proposed budget with a budget deficit that grows to $987 billion by 2020, according to budget projections within the budget document.   [post_title] => Federal Budget Forecasts Revised To Add Nearly $1 Trillion Of Additional Debt Over The Next 10 Years Because Of New Tax Laws [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => federal-budget-forecasts-revised-add-nearly-1-trillion-additional-debt-next-10-years-new-tax-laws [to_ping] => [pinged] => [post_modified] => 2018-07-27 16:42:26 [post_modified_gmt] => 2018-07-27 16:42:26 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2631 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [7] => WP_Post Object ( [ID] => 2580 [post_author] => 1 [post_date] => 2018-04-27 10:26:18 [post_date_gmt] => 2018-04-27 10:26:18 [post_content] => On February 12, 2018 the White House released a proposed budget with a budget deficit that grows to $987 billion by 2020, according to budget projections within the budget document.
"Trump's budget anticipates deficits throughout the next 10 years even if Congress were to approve some $3 trillion in cuts over that same time period that he's proposing for a wide range of federal programs."  Trump has not found support for many of the proposed cuts. The budget also projects 3% yearly GDP growth, much higher than other independent projections.  If GDP growth is below 3% the deficit will grow even larger. Under President Obama (during the economic recession), the federal budget deficit reached $1.413 trillion.
 

U.S. Federal Budget Deficits (USD billions)

[caption id="attachment_2592" align="aligncenter" width="1334"] SOURCE: FRED (See Below Citations)[/caption]
[post_title] => Trump Budget Grows Annual Budget Deficit To $987 Billion By 2020; Deficit Under Obama Reached $1.4 Trillion [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => trump-budget-grows-annual-budget-deficit-987-billion-2020 [to_ping] => [pinged] => [post_modified] => 2018-05-20 13:08:38 [post_modified_gmt] => 2018-05-20 13:08:38 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2580 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [8] => WP_Post Object ( [ID] => 2576 [post_author] => 1 [post_date] => 2018-04-22 09:47:33 [post_date_gmt] => 2018-04-22 09:47:33 [post_content] => On Friday April 20, 2018, Wells Fargo was fined $1 billion ($500 million by the Consumer Financial Protection Bureau [CFPB] and $500 million by the Office of the Comptroller of the Currency) for "charging as many as 570,000 clients for car insurance they didn't need" and for inappropriately charging mortgage borrowers for "missing a deadline to lock in promised interest rates, even though the delays were Wells Fargo's fault." In addition, "an internal review by Wells Fargo found that about 20,000 of those [car insurance] customers may have defaulted on their car loans and had their vehicles repossessed in part because of those unnecessary insurance costs." Wells Fargo was also fined $185 million in 2016 for "secretly opening unauthorized deposit and credit card accounts." The Republican tax cut will save Wells Fargo an estimated $3.7 billion this year alone due to the significantly lower corporate tax rate it will pay. [post_title] => Wells Fargo Fined $1 Billion By U.S. Government For Inappropriate Charges And Fees But Will Save $3.7 Billion In Taxes Due To New Republican Tax Plan [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => wells-fargo-fined-1-billion-u-s-government-inappropriate-charges-fees-will-save-3-7-billion-taxes-due-new-republican-tax-plan [to_ping] => [pinged] => [post_modified] => 2018-04-22 09:53:29 [post_modified_gmt] => 2018-04-22 09:53:29 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2576 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [9] => WP_Post Object ( [ID] => 2566 [post_author] => 1 [post_date] => 2018-04-01 13:17:13 [post_date_gmt] => 2018-04-01 13:17:13 [post_content] => "On Feb. 12, the Trump administration released its 2019 budget proposal for changes to make to the federal government’s spending." The $4.4 trillion budget proposal calls for "drastic reductions in environmental, research and diplomatic programs [President Trump has] long derided as wasteful: a 27 percent cut to the State Department; 25 percent to the Environmental Protection Agency; cost-cutting overhauls to Medicare and other social safety-net programs. That money would be partially diverted toward building a wall on the Mexican border and boosting defense spending." The budget deficit in this proposed budget increases to $984 billion. [caption id="attachment_2567" align="aligncenter" width="645"] SOURCE: Washington Post (See Below Citations)[/caption] "Any president’s budget proposal is customarily dismissed by Congress -- which controls the government’s purse strings, under the Constitution -- as a dead-on-arrival wish list. That’s especially true with this year’s document." View the full budget proposal here. [post_title] => Trump Administration Releases Proposed 2019 Budget That Increases Funding For The Military And Constructing Additional Border Wall Sections By Cutting Service And Research Programs; Budget Deficit Increases To $984 Billion [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => trump-administration-releases-proposed-2019-budget-increases-funding-military-constructing-additional-border-wall-sections-cutting-service-research-programs-budget-deficit-inc [to_ping] => [pinged] => [post_modified] => 2018-04-01 13:17:13 [post_modified_gmt] => 2018-04-01 13:17:13 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2566 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) ) [post_count] => 10 [current_post] => -1 [in_the_loop] => [post] => WP_Post Object ( [ID] => 2756 [post_author] => 1 [post_date] => 2019-02-23 15:45:26 [post_date_gmt] => 2019-02-23 15:45:26 [post_content] => "President Donald Trump on Friday [February 15, 2019] declared a national emergency in a bid to fund his promised wall at the U.S.-Mexico border without congressional approval, an action Democrats vowed to challenge as a violation of the U.S. Constitution." "Within hours, the action was challenged in a lawsuit filed on behalf of three Texas landowners, saying that Trump’s declaration violates the U.S. Constitution and that the planned wall would infringe on their property rights." The Trump Administration plans to divert $3.5 billion in defense department funds towards the wall through this national emergency and $8 billion in total funds from a variety of sources. The $8 billion also includes $1.4 billion from the recent budget deal to reopen the government (after the longest shutdown in history) and approximately $600 million from a treasury department asset forfeiture fund. Illegal immigration from Mexico is at a 46 year low and has been steadily declining, and 650 miles of border wall already exist along the U.S. Mexico border, with natural barriers along much of the rest. [post_title] => President Trump Declares National Emergency To Fund New Sections Of Border Wall With Mexico [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => president-trump-declares-national-emergency-to-fund-new-sections-of-border-wall-with-mexico [to_ping] => [pinged] => [post_modified] => 2019-02-23 15:45:26 [post_modified_gmt] => 2019-02-23 15:45:26 [post_content_filtered] => [post_parent] => 0 [guid] => http://factualuprising.com/?p=2756 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [comment_count] => 0 [current_comment] => -1 [found_posts] => 21 [max_num_pages] => 3 [max_num_comment_pages] => 0 [is_single] => [is_preview] => [is_page] => [is_archive] => 1 [is_date] => [is_year] => [is_month] => [is_day] => [is_time] => [is_author] => [is_category] => 1 [is_tag] => [is_tax] => [is_search] => [is_feed] => [is_comment_feed] => [is_trackback] => [is_home] => [is_404] => [is_embed] => [is_paged] => [is_admin] => [is_attachment] => [is_singular] => [is_robots] => [is_posts_page] => [is_post_type_archive] => [query_vars_hash:WP_Query:private] => 322862ccf8dc8cf2233742b6ff048919 [query_vars_changed:WP_Query:private] => [thumbnails_cached] => [stopwords:WP_Query:private] => [compat_fields:WP_Query:private] => Array ( [0] => query_vars_hash [1] => query_vars_changed ) [compat_methods:WP_Query:private] => Array ( [0] => init_query_flags [1] => parse_tax_query ) ) [paged] => 1 )
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