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Thread: November Deficit Highest on Record

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    November Deficit Highest on Record

    Does anybody have any idea how we're going to pay for this crap? Or will it be business as usual?

    November federal budget deficit highest on record - Yahoo! News

    The federal budget deficit rose to $150.4 billion last month, the largest November gap on record. And the government's deficits are set to climb higher if Congress passes a tax-cut plan that's estimated to cost $855 billion over two years.

    The Treasury Department says November's budget gap was 25 percent more than the deficit in November 2009. Much of last month's jump, though, was due to a quirk of the calendar determining when benefit checks are mailed.
    Last edited by Shooterman; 12-10-10 at 05:00 PM.
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    Re: November Deficit Highest on Record

    You read that last sentence, right?

    The high deficits for 2009/2010 were expected due to stimulus spending. You're right that deficits will go even higher with the tax cut extensions, though. Just don't tell that to Republicans, though, because they'll tell you that tax cuts don't increase deficits.
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    Re: November Deficit Highest on Record

    Who cares about deficits? What is important that Paris Hilton gets her tax cut.

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    Re: November Deficit Highest on Record

    the prescription here is growth

    clinton/obama/mcconnell/boehner---if you're not aboard, you're a splinter

    in europe they call it austerity

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    Re: November Deficit Highest on Record

    We should defund all stimulus projects, cut back on federal employment and make it efficient, reduce defense spending make cuts in other areas. The government should be forced to live within their means and not overtax the wealthy to pay for parasitic projects.
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    Re: November Deficit Highest on Record

    We should let Europe defend itself.
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    Re: November Deficit Highest on Record

    Quote Originally Posted by Deuce View Post
    You read that last sentence, right?

    The high deficits for 2009/2010 were expected due to stimulus spending. You're right that deficits will go even higher with the tax cut extensions, though. Just don't tell that to Republicans, though, because they'll tell you that tax cuts don't increase deficits.
    Not tax cuts but all the pork the democrats are now adding like ethanol subsidies

    Add-ons turn tax cut bill into 'Christmas tree' - Yahoo! News

    The add-ons were being attached behind the scenes.

    Almost $5 billion in subsidies for corn-based ethanol and a continuing tariff to protect against ethanol imports were wrapped up and placed on the tree Thursday night for farm-state lawmakers and agribusiness lobbyists. Environmentalists won more grants for developers of renewable energy, like wind and solar.

    For urban lawmakers, there's a continuation of about-to-expire tax breaks that could save commuters who use mass transit about $1,000 a year. Other popular tax provisions aimed at increasing production of hybrid automobiles, biodiesel fuel, coal and energy-efficient household appliances would be extended through the end of 2011 under the new add-ons.

    The package also includes an extension of two Gulf Coast tax incentive programs enacted after Hurricane Katrina to spur economic development in Mississippi, Louisiana and Alabama.

    The ethanol money was added despite a growing congressional opposition to subsidizing the fuel after decades of government support. Last month, 17 Republican and Democratic senators wrote to leaders calling the tax breaks "fiscally indefensible," since there's already a law in place that requires ethanol be blended into gasoline.

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    Re: November Deficit Highest on Record

    Quote Originally Posted by ptif219 View Post
    Not tax cuts but all the pork the democrats are now adding like ethanol subsidies
    I'm guessing it was an oversight on your part or you merely stopped reading before you got to this paragraph.

    Quote Originally Posted by Article
    But ethanol still has powerful supporters on Capitol Hill, including Iowa Sen. Charles Grassley, the top Republican on the Senate Finance Committee and a key negotiator on the Senate tax bill. Adding the ethanol tax breaks was designed to help shore up the votes of many rural Democratic as well as Republican senators.
    “We just simply don’t know how to govern” - Rep. Steve Womack (R-AR) a member of the House Budget Committee

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    Re: November Deficit Highest on Record

    Quote Originally Posted by Deuce View Post
    You read that last sentence, right?

    The high deficits for 2009/2010 were expected due to stimulus spending. You're right that deficits will go even higher with the tax cut extensions, though. Just don't tell that to Republicans, though, because they'll tell you that tax cuts don't increase deficits.
    How much extra of YOUR money are you sending to the Govt? We don't have a revenue problem, we have a spending problem? Where did repayment of the TARP spending go? How about the unused Stimulus funds? Why is it that you and others always focus on the taxpayers to bailout out failures of liberal spending?

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    Re: November Deficit Highest on Record

    Quote Originally Posted by CriticalThought View Post
    Who cares about deficits? What is important that Paris Hilton gets her tax cut.
    you mean Paris Hilton keeping more of HER money? You don't seem to have as much of a concern as to how tax dollars are spent but instead focus on taking more money from individuals who earned it?

    Over the past few months I have posted the line items out of the Federal Budget and every time I have done that it is ignored by "radicals" who don't want the facts but instead want to promote class warfare.

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