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November Deficit Highest on Record

Shooterman

Shooterman

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

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

in europe they call it austerity
 
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.
 
Deuce said:
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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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.
 
ptif219 said:
Not tax cuts but all the pork the democrats are now adding like ethanol subsidies
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I'm guessing it was an oversight on your part or you merely stopped reading before you got to this paragraph.

Article said:
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.
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Deuce said:
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.
Click to expand...

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?
 
CriticalThought said:
Who cares about deficits? What is important that Paris Hilton gets her tax cut.
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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.
 
BWG said:
I'm guessing it was an oversight on your part or you merely stopped reading before you got to this paragraph.
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Supports it did not add it Obama and the democrats added it. All this pork is Obama bribing democrats. More debt we can not afford because the Democrats want to hold unemployment and the middle class hostage.
 
ptif219 said:
Supports it did not add it Obama and the democrats added it. All this pork is Obama bribing democrats. More debt we can not afford because the Democrats want to hold unemployment and the middle class hostage.
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Somehow raising taxes on the rich is going to put 16 million plus Americans back to work. Typical radical leftists whose ultimate goal is massive redistribution of wealth and their definition of social justice meaning complete power. What is frustrating is that most of the people who support the left agenda are going to be left out in the cold and don't realize it!
 
Conservative said:
Somehow raising taxes on the rich is going to put 16 million plus Americans back to work. Typical radical leftists whose ultimate goal is massive redistribution of wealth and their definition of social justice meaning complete power. What is frustrating is that most of the people who support the left agenda are going to be left out in the cold and don't realize it!
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If it will create jobs that tells me they should be made permanent
 
ptif219 said:
If it will create jobs that tells me they should be made permanent
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As has been stated many times, we have a spending problem, not a revenue problem. Notice that those with a leftist agenda never really address the spending and always call for more revenue from those evil rich people. I am NOT rich but have no problem with anyone keeping more of what they earn. When the rich have more money so do charities which actually help people instead of a govt. that wastes the money.
 
Conservative said:
As has been stated many times, we have a spending problem, not a revenue problem. Notice that those with a leftist agenda never really address the spending and always call for more revenue from those evil rich people. I am NOT rich but have no problem with anyone keeping more of what they earn. When the rich have more money so do charities which actually help people instead of a govt. that wastes the money.
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As has been stated many times, there are two sides to a budget. Notice that those with a right wing agenda only want to focus on cutting spending and never focus on raising more revenue combined with proper cuts.
 
haymarket said:
As has been stated many times, there are two sides to a budget. Notice that those with a right wing agenda only want to focus on cutting spending and never focus on raising more revenue combined with proper cuts.
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Cutting tax rates by JFK, Reagan, and GW Bush did increase govt. revenue. So here you are, same tired old rhetoric on a different thread. Go to revenue and expenses at the attached non partisan site and check out income tax revenue AFTER the Bush and Reagan Tax cuts.

I know this is hard for you to understand but if you would apply your own personal financial decisions to that of the Federal Govt. you would get it. When your revenue goes down(tax increases cutting take home pay) you spend less unless you are the Federal Govt. where as you blame lack of revenue for the problem. We don't have a revenue problem we have a spending problem.

BEA links GDP and Receipts/Expense

U.S. Department of Commerce. Bureau of Economic Analysis
 
Conservative said:
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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It's both. How hard is this for people to understand? Surplus = Revenue - Spending. Spending needs to come down and revenue needs to come up.
 
Deuce said:
It's both. How hard is this for people to understand? Surplus = Revenue - Spending. Spending needs to come down and revenue needs to come up.
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And revenue will grow when the 16 plus million unemployed Americans get back to work and raising taxes does nothing to make that happen.
 
haymarket said:
As has been stated many times, there are two sides to a budget. Notice that those with a right wing agenda only want to focus on cutting spending and never focus on raising more revenue combined with proper cuts.
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Controlled spending would stop the out of control increasing debt. The democrats can not just have a tax extension bill they have to load it with pork to buy votes
 
Deuce said:
It's both. How hard is this for people to understand? Surplus = Revenue - Spending. Spending needs to come down and revenue needs to come up.
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That's for providing the secret formula :roll:. What has the Obama Administration done since it came into office to make you think its serious about cutting spending ? Appointed a debt commission ? Whooo Hoooo ! Even their final recommendation formula was 75% cuts to 25% tax increases. But I only see Obama and the liberals here wanting to raise taxes on "the evil rich".

As others have noted, the fix from the revenue side will only come when we get mroe people back to work in private sector jobs. It'll never happen otherwise. This current "deal", while it is now getting its pork attachments, goes much further to that end than the original Stimulus. It certainly will be far better received by the job creators than teh first Stumus fiasco.
 
haymarket said:
As has been stated many times, there are two sides to a budget. Notice that those with a right wing agenda only want to focus on cutting spending and never focus on raising more revenue combined with proper cuts.
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Notice that the left's "raising revenue" solution is always to take more money from the other guy :)

36 months of funemployment isn't being too thrifty either ;)
 
Eighty Deuce said:
Notice that the left's "raising revenue" solution is always to take more money from the other guy :)

36 months of funemployment isn't being too thrifty either ;)
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I don't see any of the left answering the question as to how much "extra" money they are sending to the govt. to help them with that debt? You are right, it is always someone else's responsibility to pay for their irresponsible spending. Highest deficit on record is the result. Where is the TARP repayment and unused Stimulus money?
 
Conservative said:
I don't see any of the left answering the question as to how much "extra" money they are sending to the govt. to help them with that debt? You are right, it is always someone else's responsibility to pay for their irresponsible spending. Highest deficit on record is the result. Where is the TARP repayment and unused Stimulus money?
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Those of us on the left have provided that answer. We want to send the extra 3% increase on the wealthiest 2% of Americans to help the government. How could you have missed that one?
 
haymarket said:
Those of us on the left have provided that answer. We want to send the extra 3% increase on the wealthiest 2% of Americans to help the government. How could you have missed that one?
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How does sending someone else's money to the govt. help the govt? Help them do what? Why don't you send more of your money to "help" the govt?
 
haymarket said:
Those of us on the left have provided that answer. We want to send the extra 3% increase on the wealthiest 2% of Americans to help the government. How could you have missed that one?
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How about we make it voluntary and see how much rich democrats send. Like Kerry and Rockafeller and Pelosi and Boxer and Reid and Obama.
 
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