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Deficit shrunk by $200 billion

The Barbarian said:
it's not even close to what I want .. . sheeez .. if you are happy with it .. then in my opinion you are nuts .. our countries debt is crushing us, 20 cents out of every dollar taken in goes to play just the interest on our debt .. Do you believe that 1.1 trillion in additional debt is helpful ?? When do we finally get back to balanced ? 10 years ? 20 years ? What is our total debt going to be then ?? How much debt do we put on the back of our children and their children before we say it's enough ?
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I'm not happy with where it's at... I'm happy with the direction it's going in. If you want instant results from a government designed to fight one another, it's not me whose nuts. I also think it's not that bright to expand the rate deep into the future as if that is a fixed rate and won't change. Could get better, could get worse but it almost definitely won't stay the same. I'm just taking good news as it comes for the good news that it is.
 
poweRob said:
I'm not happy with where it's at... I'm happy with the direction it's going in. If you want instant results from a government designed to fight one another, it's not me whose nuts. I also think it's not that bright to expand the rate deep into the future as if that is a fixed rate and won't change. Could get better, could get worse but it almost definitely won't stay the same. I'm just taking good news as it comes for the good news that it is.
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Then it's just a difference of opinion, the "projected" deficit was going to be 1.3 trillion dollars ... it ended up being 1.1 trillion, to me I don't see much of a difference .. in 2012 we still added over 1 trillion to our debt, and I'm sorry, but I'm not satisfied with that figure ..
 
lol, the deficit is still getting larger. Just not as much as they thought, according to the article.
 
Lutherf said:
Yep...for the second time. The other went down 97-0.

Good thing the guy's a rock star because he damned sure doesn't have much success at being president.
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The funny part is that basically nobody on the right wing bothered to question why that might have been the case. Most of you just straight-up bought the fox-news version.
 
duhu said:
lol, the deficit is still getting larger. Just not as much as they thought, according to the article.
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No, it's actually getting smaller -- just not as fast as we would like.

Sadly, neither candidate has proposed the medicine that we need to get our debt under control. Obama has proposed to allow the top Bush tax cuts to expire, which will help a little. Romney has proposed maintain the status quo as far as revenue goes. In both cases we will continue to run unsustainable deficits for the foreseeable future.

Quite simply, all we need to do restore fiscal sanity is to allow all of the Bush tax cuts to expire. In that scenario deficits fall to a sustainable 3% of GDP in 3-4 years. Personally I would propse ending the top tax cuts immediately and the rest of them in the next two years.
 
Deuce said:
The funny part is that basically nobody on the right wing bothered to question why that might have been the case. Most of you just straight-up bought the fox-news version.
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When 2 budgets in a row go down without so much as a glance from either party it's rather obvious that they did so because they were nothing but an academic exercise....pure politics with zero substance and zero intent of being taken seriously.
 
Lutherf said:
When 2 budgets in a row go down without so much as a glance from either party it's rather obvious that they did so because they were nothing but an academic exercise....pure politics with zero substance and zero intent of being taken seriously.
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I showed you why, poison pill politics. Ignore it if you wish.
 
poweRob said:
I showed you why, poison pill politics. Ignore it if you wish.
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Oh come on!:roll:

The budget committee never even advanced the budget to the floor so it was DOA to begin with.
 
AdamT said:
No, it's actually getting smaller -- just not as fast as we would like.
of GDP in 3-4 years. Personally I would propse ending the top tax cuts immediately and the rest of them in the next two years.
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I don't follow.

"The federal government’s fiscal year 2012 has come to a close, and CBO estimates that the federal budget deficit for the year was about $1.1 trillion, approximately $200 billion lower than the shortfall recorded in 2011."

The deficit isn't decreasing. lol.
 
Good Job everybody.
 
duhu said:
I don't follow.

"The federal government’s fiscal year 2012 has come to a close, and CBO estimates that the federal budget deficit for the year was about $1.1 trillion, approximately $200 billion lower than the shortfall recorded in 2011."

The deficit isn't decreasing. lol.
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Well, are you using the same dictionary as everyone else? Because when the deficit gets smaller every year, as it has been doing, that means it's decreasing.
 
I'm happy to see the deficit making a backtrack from the ridiculously high numbers it was at in pervious years to an extremely high number now. It's the right direction we need to see it move. It's not nearly the extent that we need to see it move, nor the pace that it needs to move at, to actually deal with the DEBT, but it's a good thing regardless.
 
AdamT said:
Well, are you using the same dictionary as everyone else? Because when the deficit gets smaller every year, as it has been doing, that means it's decreasing.
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Oh wait, I was talking about debt, even though everyone else is talking about deficit. Brain fart.
 
I forget... was the FY2008 deficit $2.2T?
It must have been, given that The Obama promise to cut the deficit in half by the end of his first term.
 
poweRob said:
I showed you why, poison pill politics. Ignore it if you wish.
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Why don't you explain the contents of the Obama budget that didn't get a vote? Do you have any idea why?

Further did you even read your own post. Do you know what a CBO ESTIMATE is?
 
Lutherf said:
When 2 budgets in a row go down without so much as a glance from either party it's rather obvious that they did so because they were nothing but an academic exercise....pure politics with zero substance and zero intent of being taken seriously.
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In one case it was because it wasn't actually the president's budget. In the other it was because a different budget had already been agreed upon, with bigger spending cuts.

So, to claim it was some sort of failure of leadership on the president's part is absurd partisan nonsense fed to you by the GOP. Way to buy into it!
 
poweRob said:
CBO numbers... And linked to the CBO Monthly Budget Review


The federal government’s fiscal year 2012 has come to a close, and CBO estimates that the federal budget deficit for the year was about $1.1 trillion, approximately $200 billion lower than the shortfall recorded in 2011. The 2012 deficit was equal to 7.0 percent of gross domestic product, CBO estimates, down from 8.7 percent in 2011, 9.0 percent in 2010, and 10.1 percent in 2009, but greater than in any other year since 1947. CBO’s deficit estimate is based on data from the Daily Treasury Statements; the Treasury Department will report the actual deficit for fiscal year 2012 later this month.

The estimated deficit is $38 billion below what CBO projected in its August Budget and Economic Outlook because revenues were higher and outlays were lower than expected near the end of the fiscal year.​


Enter the cries those that wish, pray and hope ill befalls America when their party isn't in the whitehouse.
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This is laughable. You cultists are getting desperate.

Obama and the Democrats have not passed a budget since before the IPAD was released

2012 Budget Deficit: CBO Estimates Another Trillion-Dollar Deficit On Obama
 
poweRob said:
If only he could have introduced legislation from the executive branch, perhaps we might have seen if his plan would've worked. Or atleast how the GOP would have accepted it.
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Yea let's just let Obama become a dictator or something and do whatever the hell is he wants

What could possibly go wrong?
 
AdamT said:
Well, are you using the same dictionary as everyone else? Because when the deficit gets smaller every year, as it has been doing, that means it's decreasing.
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You are beclowning yourself once again

How many times is that today? I lost count

The deficit went from 1.3 Trillion in 2011 to 1.1 Trillion in 2012 for a total Obamadebt haul of 2.4 Trillion in borrowed/spent/printed money in 2 years

But hey! We're making progress! Hope and Change! Foreward guyz!

images
 
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Deuce said:
In one case it was because it wasn't actually the president's budget. In the other it was because a different budget had already been agreed upon, with bigger spending cuts.

So, to claim it was some sort of failure of leadership on the president's part is absurd partisan nonsense fed to you by the GOP. Way to buy into it!
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Sorry but that simply isn't true, you have no idea what the Obama budget was nor can you explain why it didn't garner at least one Democrat vote. That budget cut NOTHING, so what part of nothing do you not understand? The baseline was the record spending that Obama has right now and proposed tax increases only on those evil rich people. That argument is falling flat because most people understand that 70 billion dollars a year is a drop in the bucket and will not put 22.7 million unemployed/under employed/discouraged workers back to work full time paying taxes.

Far too many people continue to buy the Obama lies but the electorate is waking up. IMO this election isn't going to be nearly as close as many think. I could be wrong but then again I have always had more faith in the American people than any liberal.
 
Bronson said:
You are beclowning yourself once again

How many times is that today? I lost count

The deficit went from 1.3 Trillion in 2011 to 1.1 Trillion in 2012 for a total Obamadebt haul of 2.4 Trillion in borrowed/spent/printed money in 2 years

But hey! We're making progress! Hope and Change!
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Amazing, isn't it, a projection of a 200 billion decrease in the debt is trumpeted as a success. Wonder why Obama supporters have such low standards when it comes to a liberal President. The current debt today is 16.2 trillion dollars, up 5.6 trillion during the Obama term and that is something liberals refuse to recognize.
 
Bronson said:
You are beclowning yourself once again

How many times is that today? I lost count

The deficit went from 1.3 Trillion in 2011 to 1.1 Trillion in 2012 for a total Obamadebt haul of 2.4 Trillion in borrowed/spent/printed money in 2 years

But hey! We're making progress! Hope and Change! Foreward guyz!

images
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I'm sorry, but are you trying to make yourself look good by agreeing with me that the deficit got smaller? Or ... what?
 
AdamT said:
I'm sorry, but are you trying to make yourself look good by agreeing with me that the deficit got smaller? Or ... what?
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Look man no offense but I simply can't take you seriously

Time and again I've had to make an example out of you. You're a pinata.

It's not my problem you refuse to look at the simple math

1.3 trillion + 1.1 Trillion = 2.4 Trillion in new Obamadebt in 2 years
 
Conservative said:
Sorry but that simply isn't true, you have no idea what the Obama budget was nor can you explain why it didn't garner at least one Democrat vote.
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Yes I do and I just did.

Continue burying your head, though, if it makes you feel better.
 
BACotner said:
The deficit isn't lower!!! This report (if correct) merely states that the deficit spending for the current year is not as much as at first ESTIMATED. All that means is the US Government didn't spend as much (we think) as we thought we were going to (we think). We still spent more than we took in (of that we are positive).
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Forget the deficit as a % of GDP metric (even though 9% is ridiculously big). What is the deficit as a percentage of government spending? In other words, of every dollar spent by the federal government, how many cents were borrowed and how many were paid through taxes.

Now all you Obama supporters, think about what would happen to your own personal situation if that happened year after year after year.

Edit: Holy crap. OK, so wikipedia has some graphs from the CBO that indicate 2011 federal revenues of $2.303 trillion and federal government expenditures of $3.598 trillion. What that means is that for every dollar the United States govenrment spent in 2011, 36 cents were borrowed money. Alternatively, for every $1 of tax money raised and spent, the government borrowed and spent another 56 cents.

That anyone could possibly think this is ok or that Obama is doing a good job at being serious about deficit reduction truly boggles my mind. I would say that the US is spending like a drunken sailor at a whore house, but drunken sailors don't have access to that sort of credit.

Romeny was absolutely right, Big Bird "fiasco" or not. With a gap between income and spending like that, every single federal expenditure that cannot be justified should be axed, because every single one of those programs is being paid for with borrowed money.

But sure, the election is about who cares more about Big Bird and mandating that others pay for your birth control pills.
 
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