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Thread: Govt. borrows 46 cents of every dollar it spends

  1. #161
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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by H. Lee White View Post
    I see you cannot muster the intellectual honesty to admit you were wrong when you stated that Congress voted unanimously to pass the defense appropriations bill.
    Speaks volumes.
    Show me the vote count of Congressional Republicans that voted against the $600 billion dollar spending bill.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Bronson View Post
    Again Bill Clinton used money from SOCIAL SECURITY TO PAY DOWN THE PUBLIC DEBT. NOT THE NATIONAL DEBT.
    Well, according to Factcheck.org Clinton would've had a budget surplus without counting social security, it just would have been smaller....

    FactCheck.org : The Budget and Deficit Under Clinton

    The PUBLIC DEBT IS THE NATIONAL DEBT.....

    national debtn
    (Economics) the total outstanding borrowings of a nation's central government Also called (esp US) public debt
    national debt - definition of national debt by the Free Online Dictionary, Thesaurus and Encyclopedia.


    national debt: the total financial obligations of the central government of a nation usu. in the form of interest-bearing government bonds called also public debt
    National debt - Definition and More from the Free Merriam-Webster Dictionary


    HE HAD DEFICITS EVERY YEAR HE WAS IN OFFICE
    THE GOVERNMENT BORROWED MONEY FROM ITSELF TO PAY DOWN PUBLIC DEBT
    Sorry, but you're wrong. The DEFICIT is not the same thing as the PUBLIC DEBT.

    Go ahead. Check for yourself. Look at intergovernmental holdings for every single year Clinton was office. It went up every year because he was borrowing money from the Government to pay down PUBLIC DEBT which is not the same thing as NATIONAL DEBT
    Recession Puts a Major Strain On Social Security Trust Fund
    See the definition of national debt above. I don't think anyone here is saying Clinton didn't have a debt, only that he lowered it and had a budget surplus when he left office.


    Have a nice day
    Okie dokey

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by H. Lee White View Post
    This is true for 2 years, totalled under $90B, and was not when he left office.

    FY Revenue Outlay Deficit/surplus
    1992 1,091.2 1,381.5 -340.4
    1993 1,154.3 1,409.4 -300.4
    1994 1,258.6 1,461.8 -258.8
    1995 1,351.8 1,515.7 -226.4
    1996 1,453.1 1,560.5 -174.0
    1997 1,579.2 1,601.1 -103.2
    1998 1,721.7 1,652.5 -29.9
    1999 1,827.5 1,701.8 1.9
    2000 2,025.2 1,789.0 86.4
    2001 1,991.1 1,862.8 -32.4

    http://www.google.com/url?sa=t&rct=j...54675689,d.aWc
    I'm finding a discrepency in the chart you posted above. I can see in the link that it might come from the CBO but my internet explorer says it's a risk to open the link so I can't be sure without undue risk to my computer. But this chart below also says it comes from the CBO and as you can see the 2001 budget had a surplus not a deficit......




    From everything I've read I'm getting a consensus that Clinton did have a surplus for his last three budget years. If you disagree then I'd love to see what else you have up your sleeve.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by H. Lee White View Post


    So... did you fail US Government, or have you just not made it that far in school?
    The SENATE, not CONGRESS, voted 98-0.

    So, again, when Congress unanimously votes to continue military spending almost as much as the rest of the world combined - please let me know.

    I don't mean to be nit picky but technically both the senate and the house of representatives are the congress. It's just easier in layman terms to distinguish the two by calling the lower house the congress and the upper house the senate.



    "The United States Congress is the bicameral legislature of the federal government of the United States, consisting of the Senate, its upper house, and the House of Representatives, its lower house. Congress meets in the Capitol in Washington, D.C....."
    United States Congress - Wikipedia, the free encyclopedia

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Fisher View Post
    Not really since he intends to spend that money on different things.....

    FACT CHECK: Obama and the phantom peace dividend - News - Boston.com


    OBAMA: ‘‘I'll use the money we’re no longer spending on war to pay down our debt and put more people back to work — rebuilding roads and bridges, schools and runways. After two wars that have cost us thousands of lives and over a trillion dollars, it’s time to do some nation-building right here at home.’’

    THE FACTS: The idea of taking war savings to pay for other programs is budgetary sleight of hand, given that the wars were paid for with increased debt. Obama can essentially ‘‘pay down our debt,’’ as he said, by borrowing less now that war is ending. But he still must borrow to do the extra ‘‘nation-building’’ he envisions.
    The odd and disturbing thing is that people like you didn't bat an eye when we borrowed billions rebuilding Iraq after we borrowed billions destroying it. But when it comes to spending 50 or 100 billion on rebuilding our bridges and schools here in America we suddenly can't afford it Even when it would help employ 10's of thousands of construction workers idle because of the Bush Housing bubble and collapse.
    Don't you at least have a tiny bit of pride left in your country that you would want to keep it strong? It seems you have lost you way.
    Maybe you can find a home in the Bagdad Embassy complex. It's got plenty of room, it's as big as the Vatican. It cost over $750 Million and it sits nearly empty. It costs $3.5 billion annually for the 16,000 "contractors" needed to secure and staff it. Surely you would be more comfortable there.

    Last edited by iguanaman; 12-12-12 at 03:02 AM.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by iguanaman View Post
    The odd and disturbing thing is that people like you didn't bat an eye when we borrowed billions rebuilding Iraq after we borrowed billions destroying it. But when it comes to spending 50 or 100 billion on rebuilding our bridges and schools here in America we suddenly can't afford it Even when it would help employ 10's of thousands of construction workers idle because of the Bush Housing bubble and collapse.
    Don't you at least have a tiny bit of pride left in your country that you would want to keep it strong? It seems you have lost you way.
    Maybe you can find a home in the Bagdad Embassy complex. It's got plenty of room, it's as big as the Vatican. It cost over $750 Million and it sits nearly empty. It costs $3.5 billion annually for the 16,000 "contractors" needed to secure and staff it. Surely you would be more comfortable there.

    Interesting that you know so much about what "people like" me think, particularly when I did not support the War in Iraq even though most Americans, including binders full of democrats, were for the war before they were against the war.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Catawba View Post
    That's why we voted for him! We have problems here at home we need to address.
    Then do not support claims he isn't spending the money and therefore is saving it. Proudly wave the Bank of China Visa Card logo if that is your thing.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by zimmer View Post
    Spending is the problem.

    The Marx School of PONZI Schemes is the problem.

    Parasite Nation is the problem.

    Denying reality is the problem.

    Ignorance is the problem.


    Hail to Parasite Nation... Hail!
    No, creating two wars and a pharmaceutical giveaway which costs taxpayers billions and NOT funding these is what has us in debt.
    Alex Carey:

    ... the 20th century has been characterized by three developments of great political importance: The growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy.

    Australian social scientist, quoted by Noam Chomsky in World Orders Old and New

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Hairytic View Post
    Rebuilding our infrastructure would create jobs, which would generate more tax money. That new tax revenue will go in to pay down the debt. It's real simple economics. You spend money in a way that will give you a return on your investment, and then you take that return to pay on debt. If we don't spend money that creates jobs, then all we have is a little less debt with no new revenue.
    I see it as wise to invest in American workers. History shows us that this path is one that works well and creates a boom in the economy. It also generates more tax money for state and local governments. It's a win win really.
    Actually recent history seems to show that every dollar of debt we take on only creates about 25 cents in growth, so it is hardly a boom; and paving roads really does not create a huge amount of economic activity as it is something we already have. A lot of things need to be done, but don't believe that it is somehow saving us money or generating piles of cash. Those simple economics, however, is why we will be going onto $20T debt and the national debt interest only payments will exceed what we spend on our big old bloated military in fairly short order, so it is more like the economics of Christmas shopping at a rent to own store to some people.

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    Re: Govt. borrows 46 cents of every dollar it spends

    Quote Originally Posted by Fisher View Post
    Actually recent history seems to show that every dollar of debt we take on only creates about 25 cents in growth, so it is hardly a boom; and paving roads really does not create a huge amount of economic activity as it is something we already have. A lot of things need to be done, but don't believe that it is somehow saving us money or generating piles of cash. Those simple economics, however, is why we will be going onto $20T debt and the national debt interest only payments will exceed what we spend on our big old bloated military in fairly short order, so it is more like the economics of Christmas shopping at a rent to own store to some people.
    JOBS create a boon in the economy, as it means more people are spending. You need government jobs at good wages to make an impact on this local economy. More good jobs, more things people buy and they eat out and the need for more employees increases in those areas to meet the demands.
    Alex Carey:

    ... the 20th century has been characterized by three developments of great political importance: The growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy.

    Australian social scientist, quoted by Noam Chomsky in World Orders Old and New

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