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Thread: Federal Deficit Highest Since 1940s

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    Federal Deficit Highest Since 1940s

    Federal Deficit Highest Since 1940s - Washington Whispers (usnews.com)



    The federal deficit is higher than it has been since the 1940s, in the years immediately after World War II.

    A new visual from the "Face the Facts USA," a non-partisan election project from George Washington University, shows the federal deficit has risen significantly under President Barack Obama, and that the government is increasingly spending money it doesn't have.

    In every second of 2011, for example, the government spent $114,253—even though it was only taking in $73,043 in revenue. According to Face the Facts, that means the federal government spent $41,210 every second that it didn't actually have.

    The deficit this year, however, looks as if it will be lower than it was the day President Obama assumed office.

    Using data from the Office of Management and Budget, the visual also points out that the only time in recent history the deficit has approached this level was during the 1980s recession.
    We need to stop the spending.
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    Re: Federal Deficit Highest Since 1940s

    Quote Originally Posted by American View Post

    We need to stop the spending.
    There are much better solutions than that.
    “Most people do not listen with the intent to understand; they listen with the intent to reply.”
    Stephen R. Covey


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    Re: Federal Deficit Highest Since 1940s

    Quote Originally Posted by American View Post
    All of it!?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Federal Deficit Highest Since 1940s

    We are so screwing over our children.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: Federal Deficit Highest Since 1940s

    Quote Originally Posted by American View Post

    We need to stop the spending.
    my preference is that once the economy is recovering, we cut spending in some areas and increase tax rates.

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    Re: Federal Deficit Highest Since 1940s

    Time to invade Germany.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Federal Deficit Highest Since 1940s

    In every second of 2011, for example, the government spent $114,253—even though it was only taking in $73,043 in revenue. According to Face the Facts, that means the federal government spent $41,210 every second that it didn't actually have.
    So what???
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: Federal Deficit Highest Since 1940s

    What purpose does this serve? We all know the deficit is high right now.

    A lot of things contribute to this, including defense spending, Bush tax cuts, and the "entitlement" or welfare programs. Conservatives have been succeeding in making the deficit problem and the spending problem identical in the public consciousness. There are many ways to go about cutting the deficit and all of them have serious downsides.

    It really is a remarkable propaganda campaign the conservatives have kept up the last few years. They don't only act as though revenue approaches to fixing the deficit are ineffective, but as if they are illegitimate or cheap. They have made it a blaspheme to talk about things like revenues or defense spending.

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    Re: Federal Deficit Highest Since 1940s

    Quote Originally Posted by E-M View Post
    What purpose does this serve? We all know the deficit is high right now.

    A lot of things contribute to this, including defense spending, Bush tax cuts, and the "entitlement" or welfare programs. Conservatives have been succeeding in making the deficit problem and the spending problem identical in the public consciousness. There are many ways to go about cutting the deficit and all of them have serious downsides.

    It really is a remarkable propaganda campaign the conservatives have kept up the last few years. They don't only act as though revenue approaches to fixing the deficit are ineffective, but as if they are illegitimate or cheap. They have made it a blaspheme to talk about things like revenues or defense spending.
    I'm a conservative and I want defense spending cut in half. What else you wanna cut? Oh, and I'm not talking about the cuts to projected increases (Orwellian cuts), I'm talking actual cuts.

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    Re: Federal Deficit Highest Since 1940s

    increasing revenues, stopping waste and abuse, and increasing the number of tax payers is the better way to go. No need to cut any programs if we did that things.
    “Most people do not listen with the intent to understand; they listen with the intent to reply.”
    Stephen R. Covey


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