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Thread: Federal Deficit Hits October Record of $176 Billion

  1. #21
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    Re: Federal Deficit Hits October Record of $176 Billion

    Quote Originally Posted by The Prof View Post
    the dollar is gonna collapse

    ask govener paterson of new york
    Probably not. But we will have a sure increase in exports
    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

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    Re: Federal Deficit Hits October Record of $176 Billion

    not even that, it appears

    Trade Deficit in U.S. Increases by Most Since 1999 (Update2) - Bloomberg.com

    foreign autos, in spite of (or thanks to) clunkers

    this prez can't do a single thing right

    you probably hear the above claim as political spin

    it's not, he's that bad

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    Re: Federal Deficit Hits October Record of $176 Billion

    deficits in excess of 10% of gdp are suicide

    ask keynes

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    Re: Federal Deficit Hits October Record of $176 Billion

    Quote Originally Posted by The Prof View Post
    not even that, it appears

    Trade Deficit in U.S. Increases by Most Since 1999 (Update2) - Bloomberg.com

    foreign autos, in spite of (or thanks to) clunkers

    this prez can't do a single thing right

    you probably hear the above claim as political spin

    it's not, he's that bad
    That is a suspicious way of trying to manipulate numbers to contend my reply. The article you put forth only describes volatility and an improved sentiment of the US consumer. Please keep in mind the demand shocks last year that sent oil from $140 --> $30.

    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

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    Re: Federal Deficit Hits October Record of $176 Billion

    Quote Originally Posted by The Prof View Post
    One must wonder if you can read. From your article:

    "Exports rose 2.9 percent to $132 billion, the most this year, propelled by sales of civilian aircraft, industrial machines and petroleum products"

    An increasing trade deficit does not equate to diminishing exports.
    If imports rise at 5%, but exports at 2% compared to last year's spread of 1%, the trade deficit has grown but exports have also grown.

    Please read your articles in addition to actually understanding the concepts before posting. Kthxbye.
    Last edited by obvious Child; 11-14-09 at 08:50 PM.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Federal Deficit Hits October Record of $176 Billion

    oh, i read it, thanks, took notes, indeed

    unfortunately, the headline pretty much says it all

    politics persistently prevail

    our poor president

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    Re: Federal Deficit Hits October Record of $176 Billion

    Quote Originally Posted by Strucky View Post
    Federal Deficit Hits October Record of $176 Billion

    Government Starts New Fiscal Year Deeply in the Red

    By MATTHEW JAFFE
    Nov. 12, 2009

    The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced today.

    During the month, the government racked up $311 billion in outlays compared with $135 billion in receipts.

    The October numbers mark the first month for the new fiscal year after the U.S. wrapped up the 2009 fiscal year that ended on September 30 with a record-high $1.4 trillion budget deficit due to increased government spending to stop the recession and the financial crisis. The final deficit for the 2009 fiscal year was equal to 10 percent of the nation's GDP, the highest shortfall relative to GDP since 1945, the final year of World War II.

    ----------
    I KNOW I KNOW.
    I have an idea!

    Why doesn't the government take it's money - that it borrowed - for the Tarp funding and put it towards bailing out its own self!

    Yes, that would help reduce the deficit.

    A screaming comes across the sky.
    It has happened before, but there is nothing to compare it to now.
    Pynchon - Gravity's Rainbow

  8. #28
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    Re: Federal Deficit Hits October Record of $176 Billion

    a little more copy for my econ-craving cronies

    from The pointedly, specifically political Prof

    concerning the trade deficit, the value of the dollar, exports, imports:

    Weak dollar no quick fix for narrowing trade gap - Yahoo! News

    pay especial attention to the passages pertaining to:

    the 18% growth in the trade deficit in a month

    the sudden drop in the dollar accomplished by these disappointing tidings

    the deficit's growth 15% in excess of expectations

    geithner's observation that asia is leading the world to recovery

    the 1.3B in cars imported from mexico and canada, what's that mean?

    united states J-O-B-S

    the cash crop of the south koreans', hyundai, another clunkers client

    the dollar down 12% since spring

    still imports' increase is twice exports'

    41.7B deficit, were one to hold the dollar steady vs accounting

    treasury compelled to revise downward last quarter's pretty 3.5% gdp---ouch

    the repeated arguments explaining whatever "benefits" derive from our broken dollar in terms of international trade are a long way off

    exports down 20% in a year

    indicating less domestic production last quarter, hence the smaller than 3.5

    more than half of which increase came in car sales

    play it or parse it, either way, it adds up to one crappy headline

    politically speaking
    Last edited by The Prof; 11-15-09 at 01:24 AM.

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    Re: Federal Deficit Hits October Record of $176 Billion

    Quote Originally Posted by The Prof View Post
    oh, i read it, thanks, took notes, indeed
    So much so you cited an article you claimed showed exports decreased but proved you entirely wrong.

    Furthermore, you totally bungled the concept of what an trade deficit is.

    Perhaps you read it. You clearly do not understand it.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Federal Deficit Hits October Record of $176 Billion

    I'd like to thanks Bush for the failed $700 billion financial bailout and Obama for his failed addition of $700 billion economic stimulus program.

    All you politicians need to stay the hell away from my money.
    "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
    - Warren Buffett

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