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Deficit shrunk by $200 billion

poweRob

poweRob

USMC 1988-1996
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CBO numbers... And linked to the CBO Monthly Budget Review


The federal government’s fiscal year 2012 has come to a close, and CBO estimates that the federal budget deficit for the year was about $1.1 trillion, approximately $200 billion lower than the shortfall recorded in 2011. The 2012 deficit was equal to 7.0 percent of gross domestic product, CBO estimates, down from 8.7 percent in 2011, 9.0 percent in 2010, and 10.1 percent in 2009, but greater than in any other year since 1947. CBO’s deficit estimate is based on data from the Daily Treasury Statements; the Treasury Department will report the actual deficit for fiscal year 2012 later this month.

The estimated deficit is $38 billion below what CBO projected in its August Budget and Economic Outlook because revenues were higher and outlays were lower than expected near the end of the fiscal year.​


Enter the cries those that wish, pray and hope ill befalls America when their party isn't in the whitehouse.
 
Did you read the rest of the memo?

$83 Billion of that was from less spending on Medicaid, Education and Unemployment....all things that the GOP in the house has been widely castigated for supporting. In fact, I seem to recall that they have been "obstructionist" when it comes to Democrat attempts to increase spending in these areas.

$69 Billion was from increased income tax collections. Strangely enough, when you cut off someone's UI benefits they mysteriously find a way to get a job.

This change happened (rather obviously) in spite of Democrat policy rather than due to it.
 
I estimate that the Republicans are making at least a little bit of headway toward a less-spending government...despite those obstructionist Democrats.
 
Lutherf said:
Did you read the rest of the memo?

$83 Billion of that was from less spending on Medicaid, Education and Unemployment....all things that the GOP in the house has been widely castigated for supporting. In fact, I seem to recall that they have been "obstructionist" when it comes to Democrat attempts to increase spending in these areas.

$69 Billion was from increased income tax collections. Strangely enough, when you cut off someone's UI benefits they mysteriously find a way to get a job.

This change happened (rather obviously) in spite of Democrat policy rather than due to it.
Click to expand...

You don't seem to understand the difference between cutting Medicaid and Unemployment benefits and just spending less on them because fewer people need them.

But you know what? I am absolutely thrilled that you, a conservative, made this point. You might be the rare conservative who is finally starting to figure out that not every cent of deficit is directly attributable to the sitting president.
 
Lutherf said:
$69 Billion was from increased income tax collections. Strangely enough, when you cut off someone's UI benefits they mysteriously find a way to get a job.
Click to expand...

Wait wait wait...thats what you get out of that statistic? :lamo :lamo :lamo :lamo
 
poweRob said:
CBO numbers... And linked to the CBO Monthly Budget Review


The federal government’s fiscal year 2012 has come to a close, and CBO estimates that the federal budget deficit for the year was about $1.1 trillion, approximately $200 billion lower than the shortfall recorded in 2011. The 2012 deficit was equal to 7.0 percent of gross domestic product, CBO estimates, down from 8.7 percent in 2011, 9.0 percent in 2010, and 10.1 percent in 2009, but greater than in any other year since 1947. CBO’s deficit estimate is based on data from the Daily Treasury Statements; the Treasury Department will report the actual deficit for fiscal year 2012 later this month.

The estimated deficit is $38 billion below what CBO projected in its August Budget and Economic Outlook because revenues were higher and outlays were lower than expected near the end of the fiscal year.​


Enter the cries those that wish, pray and hope ill befalls America when their party isn't in the whitehouse.
Click to expand...

Let me see if I got this straight, what you are saying is that this administration, got the deficit down to 1.1 trillion dollars ….. That is the lowest it’s been since taking office. …. But it’s still higher then any deficit since 1947??
Are you honestly bragging about this??? … shakes head …. Yep only a liberal would be “proud” of such a thing.
 
Lutherf said:
Did you read the rest of the memo?

$83 Billion of that was from less spending on Medicaid, Education and Unemployment....all things that the GOP in the house has been widely castigated for supporting. In fact, I seem to recall that they have been "obstructionist" when it comes to Democrat attempts to increase spending in these areas.

$69 Billion was from increased income tax collections. Strangely enough, when you cut off someone's UI benefits they mysteriously find a way to get a job.

This change happened (rather obviously) in spite of Democrat policy rather than due to it.
Click to expand...

You mean how the republicans are so happy that Obama introduced $716 billion in medicare savings that Romney wants to undo and reintroduce $716 billion back into medicare in part of Romney's fiscally insane way of balancing the budget? lol
 
The Barbarian said:
Let me see if I got this straight, what you are saying is that this administration, got the deficit down to 1.1 trillion dollars ….. That is the lowest it’s been since taking office. …. But it’s still higher then any deficit since 1947??
Are you honestly bragging about this??? … shakes head …. Yep only a liberal would be “proud” of such a thing.
Click to expand...

Do you want the deficit to increase or decrease? It's decreasing now and you are unhappy about that. Why?
 
Lower deficit is a great thing! Lower spending is awesome.

This gets us about 9% of the reduction needed to near sanity again. Progress is progress.
 
Deuce said:
You don't seem to understand the difference between cutting Medicaid and Unemployment benefits and just spending less on them because fewer people need them.

But you know what? I am absolutely thrilled that you, a conservative, made this point. You might be the rare conservative who is finally starting to figure out that not every cent of deficit is directly attributable to the sitting president.
Click to expand...

I seem to remember a big dustup over whether to extend unemployment benefits or not....Hmmm...oh yeah! - Payroll Deadline Nears as Democrats Focus on Jobless Benefits and Reid Offers New Democratic Plan to Pay for Payroll-Tax Cut. From that second article note -
President Obama also spoke publicly Monday to urge Democrats to extend the payroll tax cut, as well as federal unemployment benefits. “Keep your word to the American people and don’t raise taxes on them right now,” Obama said.
Click to expand...

Like I said..."in spite of"
 
poweRob said:
If only he could have introduced legislation from the executive branch, perhaps we might have seen if his plan would've worked. Or atleast how the GOP would have accepted it.
Click to expand...

AH...so he made a promise he couldn't fulfill...why should one believe what he says now?

And to clarify are you espousing that the executive branch has no influence in legislation?...Really?
 
Dickieboy said:
AH...so he made a promise he couldn't fulfill...why should one believe what he says now?
Click to expand...

Because he's not a dictator and doesn't get everything he wishes. "I have a plan" =/= "I have instituted my plan".

I have beef with the guy but economically, unemployment is going down, and the deficit spending is going down. To me, these are pretty damn huge things.
 
poweRob said:
If only he could have introduced legislation from the executive branch, perhaps we might have seen if his plan would've worked. Or atleast how the GOP would have accepted it.
Click to expand...

He has tried.....His budget was shot down in the senate 99-0.
 
Navy Pride said:
He has tried.....His budget was shot down in the senate 99-0.
Click to expand...

They didn't vote on Obama's budget as it was presented. It's called a poison pill amendment that was introduced into the legislation by Rep. Mick Mulvaney (R South Carolina) did that killed it. Why? so they and their sheep can go on and on about how Obama's budgets don't get passed.
 
The deficit isn't lower!!! This report (if correct) merely states that the deficit spending for the current year is not as much as at first ESTIMATED. All that means is the US Government didn't spend as much (we think) as we thought we were going to (we think). We still spent more than we took in (of that we are positive).
 
Lutherf said:
Did you read the rest of the memo?

$83 Billion of that was from less spending on Medicaid, Education and Unemployment....all things that the GOP in the house has been widely castigated for supporting. In fact, I seem to recall that they have been "obstructionist" when it comes to Democrat attempts to increase spending in these areas.

$69 Billion was from increased income tax collections. Strangely enough, when you cut off someone's UI benefits they mysteriously find a way to get a job.

This change happened (rather obviously) in spite of Democrat policy rather than due to it.
Click to expand...

I'll take "in spite of" any day of the week.
 
Navy Pride said:
He has tried.....His budget was shot down in the senate 99-0.
Click to expand...

Yep...for the second time. The other went down 97-0.

Good thing the guy's a rock star because he damned sure doesn't have much success at being president.
 
The Barbarian said:
Let me see if I got this straight, what you are saying is that this administration, got the deficit down to 1.1 trillion dollars ….. That is the lowest it’s been since taking office. …. But it’s still higher then any deficit since 1947??
Are you honestly bragging about this??? … shakes head …. Yep only a liberal would be “proud” of such a thing.
Click to expand...

Bush never cut the defict, neither did dad Bush, or Ronald Reagan. During the last 30 years or so the ONLY presidents to be able to reduce the deficit were both DEMOCRATS. Thats odd me having to point that out for you - because I'm NOT a democrat, I have only voted for republicans or libertarians (although sometimes I have cast a blank ballet). Please stop with your partisan hackery.
 
poweRob said:
Do you want the deficit to increase or decrease? It's decreasing now and you are unhappy about that. Why?
Click to expand...

In very simple terms .. because it's still way to high .. . adding a trillion dollars of debt to a debt of over 15 trillion, isn't my idea of much of an improvement.
 
The Barbarian said:
In very simple terms .. because it's still way to high .. . adding a trillion dollars of debt to a debt of over 15 trillion, isn't my idea of much of an improvement.
Click to expand...

So you are giving no credit here because it is what you want but just not enough of it? Come on man...
 
imagep said:
Bush never cut the defict, neither did dad Bush, or Ronald Reagan. During the last 30 years or so the ONLY presidents to be able to reduce the deficit were both DEMOCRATS. Thats odd me having to point that out for you - because I'm NOT a democrat, I have only voted for republicans or libertarians (although sometimes I have cast a blank ballet). Please stop with your partisan hackery.
Click to expand...

There is no partisan hackery... I was one of the few conservatives that complained about our rising debt during the Bush administration as well, I'm not saying Republicans have been conservative in their views on spending in the last 20 years ... . I just don't see a single thing to brag about when this administration has added nearly 6 trillion dollars to the debt in 4 years ... and I certainly don't see any bragging room .. in saying oh look we only went 1.1 trillion dollars in debt rather then 1.3 trillion .. . but to each their own . . you must be happy with our spending practices .
 
poweRob said:
So you are giving no credit here because it is what you want but just not enough of it? Come on man...
Click to expand...

it's not even close to what I want .. . sheeez .. if you are happy with it .. then in my opinion you are nuts .. our countries debt is crushing us, 20 cents out of every dollar taken in goes to play just the interest on our debt .. Do you believe that 1.1 trillion in additional debt is helpful ?? When do we finally get back to balanced ? 10 years ? 20 years ? What is our total debt going to be then ?? How much debt do we put on the back of our children and their children before we say it's enough ?
 
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