Federal Deficit Down 56% Year-to-Date

RASTAMAN · #11 (**permalink**) 05-12-2007, 01:11 AM

Quote:

Originally Posted by Mom_Adams

Gee Rastaman, all this economic fear mongering is based on what again?

An "estimate by Columbia University economist Joseph E. Stiglitz and Harvard lecturer Linda Bilmes"

Well, I'm certainly going to lose sleep over that one.

By the way Gix... thanks for the good news. Apparently the Treasury Department forgot to share that news with the "hacks" over at Columbia University and Harvard.

Gee Mom, don't you know when the books are being cooked!!!

Gix still hasn't explained when or how the Iraq war will be paid for since you Republicans are charging the cost of the war on a CREDIT CARD!!!!!

Its not fear mongering.......Bush is charging the cost of the Iraq war to the tune 100's of billions of dollars.....the payment will come due much sooner than later, and cost will go towards the DEFICIT..........so kiss the 56% decline BYE-BYE!!!!!

So let's see you and GIX spin this one!!! The true screw up of the Bush fiscal out of control spending will come to light by July 2009!!! Surely, you don't expect any bad news while BUSHY IS in the OVAL OFFICE!

CougFan23 · #12 (**permalink**) 05-12-2007, 03:17 AM

Quote:

Originally Posted by gixaholic

Federal Deficit Down 56% Year-to-Date

You won't see the headline in your newspaper. Nor will you see the story on network news, even though it is the likely the biggest economic news of the week.

Through the first seven months of the fiscal year the federal budget deficit is 56%, or about $100 billion, below the deficit of just one year ago, which itself was the lowest in five years.

Federal receipts were up 11%, while spending rose 3%.

It must be a coincidence that revenues increased after the "Bush tax cuts."

I find it pitiful that we consider a $100 billion dollar deficit a sucess. I won't challenge the effectiveness of the tax cuts, because they've obviously worked fairly well. But we can't control spending so why even bother when the government defeats its own plan.

George O Well · #13 (**permalink**) 05-12-2007, 11:36 AM

ANY moron can reduce the deficit by borrowing. When are you Repukes going to wake the fuck up and figure that out?

seeker · #14 (**permalink**) 05-12-2007, 12:35 PM

I'm curious about this: how much of the conservative increased revenue claims are because of tax cuts and how much are from spending growth, and if you do both at the same time how can you tell?

CougFan23 · #15 (**permalink**) 05-12-2007, 03:41 PM

Quote:

Originally Posted by seeker

I'm curious about this: how much of the conservative increased revenue claims are because of tax cuts and how much are from spending growth, and if you do both at the same time how can you tell?

I don't that anyone has ever attempted to calculate that statistic. I do know it is a self defeating habit to run up deficits and debt. There is a day of reckoning when the taxpayers pick up the tab w/ interest tacked on. If the current deficit spending continues count on less government services in the future.

seeker · #16 (**permalink**) 05-12-2007, 04:01 PM

Quote:

Originally Posted by CougFan23

If the current deficit spending continues count on less government services in the future.

That Republicans are counting on. Bankrupt the government so we have to cut the government programs. Replace them with private programs so the well connected can skim off of the spending. Imagine, the ire of insurance companies where doctors get rich off of medicare but insurance companies are out of the loop in that trillion dollar baby.

CougFan23 · #17 (**permalink**) 05-12-2007, 04:12 PM

Quote:

Originally Posted by seeker

That Republicans are counting on. Bankrupt the government so we have to cut the government programs. Replace them with private programs so the well connected can skim off of the spending. Imagine, the ire of insurance companies where doctors get rich off of medicare but insurance companies are out of the loop in that trillion dollar baby.

Then we only have two option right now to fix the problem. 1) cut federal spending 2) raise taxes. The first seems like the best option to me.

noneof yourbusiness · #18 (**permalink**) 05-12-2007, 08:24 PM

Quote:

Originally Posted by gixaholic

Federal Deficit Down 56% Year-to-Date

You won't see the headline in your newspaper. Nor will you see the story on network news, even though it is the likely the biggest economic news of the week.

Through the first seven months of the fiscal year the federal budget deficit is 56%, or about $100 billion, below the deficit of just one year ago, which itself was the lowest in five years.

Federal receipts were up 11%, while spending rose 3%.

It must be a coincidence that revenues increased after the "Bush tax cuts."

Its not in the headlines cause its bullshit. This liberal media shit is just a means of denying bad news.

gixaholic · #19 (**permalink**) 05-13-2007, 09:08 AM

Quote:

Originally Posted by seeker

That Republicans are counting on. Bankrupt the government so we have to cut the government programs. Replace them with private programs so the well connected can skim off of the spending. Imagine, the ire of insurance companies where doctors get rich off of medicare but insurance companies are out of the loop in that trillion dollar baby.

yea ok there... like skimming doesn't happen now.....