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Thread: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

  1. #171
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by poweRob View Post
    So is the executive branch. The Executive Branch puts forth the budget. The congress then votes on it or modifies it and then votes on it. The budget generally originates in the executive branch with the executive branch putting in a budget request to congress.
    Is there any constitutional requirement (like absolute requirement) that we have a budget? And is this budget supposed to be binding?

    In my business, and in a non-profit that I used to help manage, we always prepared a budget, but never thought of it as binding. To me a budget is just a guideline and projection of future needs. Even if I prepare a personal budget, if something unexpected comes up that I have to pay for, like a medical bill or auto repair bill, well I just have to pay for it, regardless of whether or not I budgeted for it.

    Likewise, I really don't like the idea that if I budget $X for a project, and it turns out that the project can be done under budget, that I then expand the project just to use up the rest of the budgeted funds. Just because $X is budgeted doesn't mean that I should use all the money if it's not needed, nor does it mean that I should abandon a partially completed project just because I maxed out the budget.
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    ...I'm not interested in debating someone who is trolling for an argument....
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    I see a big problem with the idea that whatever the majority wants is OK.

  2. #172
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Do you even realize what the CBO reports and how they get their information. I am waiting for you to give me the valid source that measures "saved" jobs? What Obama did was create a stimulus plan that allowed the states the freedom not to make tough choices. Obama bailed out union contracts and liberals trumpet jobs savings because that is what the liberal elites told you. Reality tells you there is no such measurement and CBO is an instrument of Congress and makes projections based upon Congressional assumptions. You really need a more credible source like BLS
    I knew you'd discount the nonpartisan CBO report. You are an EXTREME partisan and no data that you don't like will suit you no matter the source.

    see-no-evil-300x225.jpg
    Last edited by poweRob; 11-04-14 at 11:53 PM.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

  3. #173
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by imagep View Post
    Is there any constitutional requirement (like absolute requirement) that we have a budget? And is this budget supposed to be binding?

    In my business, and in a non-profit that I used to help manage, we always prepared a budget, but never thought of it as binding. To me a budget is just a guideline and projection of future needs. Even if I prepare a personal budget, if something unexpected comes up that I have to pay for, like a medical bill or auto repair bill, well I just have to pay for it, regardless of whether or not I budgeted for it.

    Likewise, I really don't like the idea that if I budget $X for a project, and it turns out that the project can be done under budget, that I then expand the project just to use up the rest of the budgeted funds. Just because $X is budgeted doesn't mean that I should use all the money if it's not needed, nor does it mean that I should abandon a partially completed project just because I maxed out the budget.
    The binding constitutional thing about the budget is that the congress controls the purse strings. The president puts forth the budget saying, "this is how much money I need to run this government." It becomes constitutionally binding when the congress then votes and puts forth the money for the budget. That vote constitutionally puts the money in there.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

  4. #174
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by poweRob View Post
    I knew you'd discount the nonpartisan CBO report. You are an EXTREME partisan and no data that you don't like will suit you no matter the source.

    see-no-evil-300x225.jpg
    Yes, the CBO data is so correct that Obama has lost 13 percent of his support yet partisans like you still don't get it. What is it about liberalism that creates people like you. The only results that matter are BLS, BEA, and Treasury data, not CBO

  5. #175
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Zyphlin View Post
    What is also a fact is that 2/3rd cut still doesn't put us below the floor of the Fiscal Crisis deficits, established in 2008 at $458 Billion
    Fiscal Crisis? You mean the financial crisis. Using nominal dollars, this is true. But so what?

    What is also a fact is that the average deficit over this administrations time (giving 2009 numbers to GWB) thus far is more than double the average deficit held during the Bush Administration.
    Again, so what? The federal government was forced to deal with a set of rather extraordinary circumstances these past 5 years.

    What is also fact is that the average deficit over this administrations time thus far is nearly 7 times greater than the average deficit levels of the past 20 years.
    Again, so what?

    What is also fact is that the estimated deficit numbers for 2015 are actually slated to increase by just under $100 billion dollars, rather than decrease again. Placing it more than $100 Billion dollars higher than the floor of the fiscal crisis deficit levels.
    Now you want to argue on the basis of projections? The CBO also projected the federal deficit would vanish by 2008 and the current deficit would come in at 3.7% of GDP. So much for using projections as support for your argument!

    But see, that's the tricky part and why you'll enjoy going up and bamboozling someone like Conservative who you feel you can beat one easily. You are pairing an objective FACT with a subjective point of reference, and hoping that people just treat your subjective reference as fact because of the other facts you're tossing around next to it.
    Conservative beats himself. I would much rather clash with likes of a civil and articulate member of the conservative movement. In all honesty, do you think you'll fare any better?
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  6. #176
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    I am waiting for any proof that the jobs created were 10 million and from what base? Did those shovels ever get to their destination from those shovel ready jobs stimulus?
    The labor market bottomed out in Q4 2009. Since then, 9,465,000 jobs have been created. This Friday will provide the requirements for rounding to 10 million.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  7. #177
    Sage

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Tettsuo View Post
    U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn - Bloomberg



    OMG, we need to stop Obama from spending us into ruin!!

    Oh, wait.... the deficit is SHRINKING? Whodathunkit! I guess he's NOT the spender in chief as he's been labeled by the consistent and reliable deficit increasing Republicans.[/FONT][/COLOR]
    The deficit may be shrinking, but spending isnt. Except I blame congress as much as I do Obama. All of them have been blindly passing spending bills, and ignoring entitlements.


    Outlays
    2009 3,517,677
    2010 3,457,079
    2011 3,603,059
    2012 3,537,127
    2013 3,454,605
    2014 estimate 3,650,526
    2015 estimate 3,900,989
    2016 estimate 4,099,078
    2017 estimate 4,268,606
    2018 estimate 4,443,145
    2019 estimate 4,728,791

  8. #178
    Sage
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Kushinator View Post
    The labor market bottomed out in Q4 2009. Since then, 9,465,000 jobs have been created. This Friday will provide the requirements for rounding to 10 million.
    Really? So your basis of judgement is not growing jobs but just replacing the jobs lost and calling that a win? Last nights election should have woken you up but apparently not. Today we have the same number of people working as we had when the recession began. The young and African Americans are hurting and have actually lost jobs, part time workers are on the rise, Obama's ratings are in the tank and still you don't get it. Not surprising

  9. #179
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Really? So your basis of judgement is not growing jobs but just replacing the jobs lost and calling that a win?
    It is not a matter of judgement nor is there a basis for "winning". Job creation is on record. Nothing you can say will negate this reality.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  10. #180
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Kushinator View Post
    It is not a matter of judgement nor is there a basis for "winning". Job creation is on record. Nothing you can say will negate this reality.
    Got it, you can lose jobs and just getting those jobs back is all that matters. Doesn't even matter that 7.5 million long term part time jobs have been created. Please take the tarian out of your name and add al because that is what you are, a liberal, one of low expectations and spin.

    Obama took office claiming he had a solution to the economic problems we faced. Rather than grow jobs the jobs created were the jobs lost with nothing added for population growth. African Americans and the young are suffering under this Administration. Now we have people like you giving him credit for numbers that the electorate doesn't buy. Where is the disconnect on your part?

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