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US debt jumps a record $328 Billion

I am confused. Largely because I am a simple guy, and when we get in to the weeds, I need to be helped along a bit, sorry for that.

Understandable (and my apologies as well). However, i believe you would achieve better understanding if you were to view things in an objective manner as you do below.

Part of the problem in this, and it isn't necessarily a current administration invention, or problem, but part of the problem is that many of these indices have been manipulated over time to make each concurring administration look better, and have cover for real numbers not being favorable...So, maybe it is just me, but I am highly skeptical of anything at this point.

You have to keep in mind that these updated calculations are put in place to improve accuracy. In the case of including input costs that produce intellectual property, measuring of output is that much more accurate.
 
Understandable (and my apologies as well). However, i believe you would achieve better understanding if you were to view things in an objective manner as you do below.



You have to keep in mind that these updated calculations are put in place to improve accuracy. In the case of including input costs that produce intellectual property, measuring of output is that much more accurate.

Thanks for the thoughtful response, I know it can be hard when all we do many times is yell past each other...

Just as a questions of curiosity though, what gives you such confidence that the measures we are talking about are put in there for accuracy? Couldn't they just as easily be manipulated for other reasons?
 
No, it did not. Not even close. Day to day revenue barely covers mandatory spending items. Discretionary spending would have to get axed almost entirely. This includes:

-Roughly 90% of the DOD budget. Yes, we'd have to cut 90% of our military spending.
-NASA. All of it.
-Air Traffic Control
-The EPA
-Veterans affairs

And so on. None of these programs would function.

NASA was shut down, EPA was shut down. Some of veterens affairs was shut down. Look at the daily treasury reports. Enough revenue was coming in to pay for mandatory spending. And simply because a dept is appropriated money doesnt mean it has to. THats a cap. NASA could CHOOSE to spend less if it wanted to, so long as its following the laws.
 
Well, you are not in a position to offer such expertise; it's subjective conjecture on your part.

The recession did hit! No need to regulate private mortgage securitization.

You mean, ITS MY OPINION. Duh.
 
On a related note, take a look at the CBO predictions for the next 11 years:

2012
Mandatory - $2,031b
Discretionary - $1,285b
Net Interest - $220b

2023
Mandatory - $3,617b (+78%)
Discretionary - $1,415b (+10%)
Net Interest - $823b (+274%)


They have US deficit in 2013 running about $850 billion, but their assumption is that discretionary spending will only grow at 1% annually rate. So anyone hear believe that congress will only grow discretionary spending by 1% annually? Yeah, me either. One this is for sure, that debt is going to kill us.

You mean 2023. The CBO baseline has us borrowing almost another ten trillion within the next decade.
 
Yeah, that is a typo. 2023.
 
Just as a questions of curiosity though, what gives you such confidence that the measures we are talking about are put in there for accuracy? Couldn't they just as easily be manipulated for other reasons?

Changes in the calculation process emerge in the academic setting which is dictated by the empirical research regarding said calculations. It would be fairly easy to identify manipulation for the sake of political gain.
 
Changes in the calculation process emerge in the academic setting which is dictated by the empirical research regarding said calculations. It would be fairly easy to identify manipulation for the sake of political gain.

Maybe for you it is easy, but for people like me, I just glaze over, and get lost...And I think that is what most do, that don't understand it on your level...but thanks for tryin' at least...
 
What party would that be?

Again, your opinion carries little weight because it lacks support and a valid econometric underpinning. Therefore, it is taken with a grain of salt.
 
Maybe for you it is easy, but for people like me, I just glaze over, and get lost...And I think that is what most do, that don't understand it on your level...but thanks for tryin' at least...

Not for me. Do you actually think right-wing economists like Gary Becker or Robert Lucas would sit idle if the research teams at the BLS or BEA were even suspected of manipulating data?
 
Not for me. Do you actually think right-wing economists like Gary Becker or Robert Lucas would sit idle if the research teams at the BLS or BEA were even suspected of manipulating data?

No, probably not...Unless there was something in it for them to lose....Maybe I am too conspiratorial.
 
Although a small amount pretty soon all the small amounts of waste, fraud, and abuse add up to some real money. We have Medicare Fraud, SS Fraud, Food Stamp Fraud all contributing to the debt so what do liberals do, propose another entitlement program that will generate more opportunities for fraud with the ACA program? We see how success the role out is of the 300 million dollar website

Obamacare glitches: Gov't contract for troubled site has swelled; GOP targets Sebelius - U.S. News

Now we have this

Craigslist makes turning food stamps into cash a SNAP | Fox News

This is just another example of book smart street stupid people supporting a massive central govt. that is bloated, inefficient, and full of waste, fraud, and abuse of someone else's money.
 
Stop the policy riders!!
Why did Boehner have to pull his own Farm bill and Transportation bill??
Why was Boehner unable to get a CR out of his own caucus ?
 
Reid would not even let it come to the floor for a vote.

Yeah, then blames the resulting hold up on repubs...Nah, demo's like the honorable "land transaction fraud" Reid would never be that dishonest.....:lamo
 
Are you going to discuss the topic or me?

You made silly error by claiming the CBO projected a surplus in 2008, and then doubled down on the misinformation by reclassifying it as your opinion. Perhaps you expect to make foolish comments and not have to take responsibility for said comments. If so, you have much to learn.
 
Stop the policy riders!!
Why did Boehner have to pull his own Farm bill and Transportation bill??
Why was Boehner unable to get a CR out of his own caucus ?

Becuase they want something in return, obviously.
 
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