CBO estimates 2013 deficit at $642 billion [W:383]

[Vern]

"The budget office now predicts a 2013 budget deficit of $642 billion, more than $200 billion below its February estimate. This year's shortfall would register at 4 percent of the economy, far less than the 10.1 percent experienced in 2009 when the government ran a record $1.4 trillion deficit."

Thank you President Obama for your prudent deficit reduction while maintaining positive growth. Your leadership was instrumental in avoiding the Bush Double Dip recession. It was bad enough republicans destroyed the economy in the first place but their active agenda to fight you and push an agenda even they knew was wrong (but they know their base doesn't) and keep the deficit higher longer borders on treason.

 

[penn1954]

Re: CBO estimates 2013 deficit at $642 billion

"The budget office now predicts a 2013 budget deficit of $642 billion, more than $200 billion below its February estimate. This year's shortfall would register at 4 percent of the economy, far less than the 10.1 percent experienced in 2009 when the government ran a record $1.4 trillion deficit."

Thank you President Obama for your prudent deficit reduction while maintaining positive growth. Your leadership was instrumental in avoiding the Bush Double Dip recession. It was bad enough republicans destroyed the economy in the first place but their active agenda to fight you and push an agenda even they knew was wrong (but they know their base doesn't) and keep the deficit higher longer borders on treason.

Horsehockey!! The last word in the first sentence says it all.

ESTIMATE! They haven't been right for years,why would they be right now?

I'm hoping for the economy to get better so people can get to work,

but deficits dont help that at all.

 

[AlabamaPaul]

Re: CBO estimates 2013 deficit at $642 billion

Horsehockey!! The last word in the first sentence says it all.

ESTIMATE! They haven't been right for years,why would they be right now?

I'm hoping for the economy to get better so people can get to work,

but deficits dont help that at all.

It's probably close to accurate, but I wouldn't credit Obama. My credit would go to Congress for not passing a new budget in four years and funding the spending through continuing resolutions...

 

[Fisher]

Re: CBO estimates 2013 deficit at $642 billion

So the side that blames Congress for killing jobs by not authorizing more spending have everything to do with there being less deficit spending? Interesting concept, at least in the Land of Pedantic Analysis.

 

[AlabamaPaul]

Re: CBO estimates 2013 deficit at $642 billion

So the side that blames Congress for killing jobs by not authorizing more spending have everything to do with there being less deficit spending? Interesting concept, at least in the Land of Pedantic Analysis.

If you're replying to my post, you obviously didn't understand it at all, or you're simply a partisan poster...

 

[Fisher]

Re: CBO estimates 2013 deficit at $642 billion

If you're replying to my post, you obviously didn't understand it at all, or you're simply a partisan poster...

I was referencing the OP.

 

[Slyfox696]

Re: CBO estimates 2013 deficit at $642 billion

So the side that blames Congress for killing jobs by not authorizing more spending have everything to do with there being less deficit spending? Interesting concept, at least in the Land of Pedantic Analysis.

The way I see it, this comes down to political parties.

Republicans, who criticized Obama for years for the deficit, will now take credit for reducing it. Democrats, who blamed Republicans for ballooning it, will now give Obama credit for its reduction. Both justify their hypocrisy because of the other's hypocrisy


The real answer is it's a combination of factors, most notably the improvement in the economy and additional tax revenue from the tax rates that increased at the beginning of the year (both the end of the payroll tax holiday and the raising of taxes on higher earners).

 

[AlabamaPaul]

Re: CBO estimates 2013 deficit at $642 billion

I was referencing the OP.

Fair enough. I wasn't aware...

 

[CanadaJohn]

Re: CBO estimates 2013 deficit at $642 billion

This, if true, will be an excellent accomplishment, however, it will be accomplished in spite of President Obama, not because of him. Well done Congress, particularly the House, for telling Obama to shove his tax and spend agenda and for sticking with the sequestration and looking for more.

 

[Slyfox696]

Re: CBO estimates 2013 deficit at $642 billion

The way I see it, this comes down to political parties.

Republicans, who criticized Obama for years for the deficit, will now take credit for reducing it. Democrats, who blamed Republicans for ballooning it, will now give Obama credit for its reduction. Both justify their hypocrisy because of the other's hypocrisy

Like I said...

Thank you President Obama for your prudent deficit reduction while maintaining positive growth. Your leadership was instrumental in avoiding the Bush Double Dip recession. It was bad enough republicans destroyed the economy in the first place but their active agenda to fight you and push an agenda even they knew was wrong (but they know their base doesn't) and keep the deficit higher longer borders on treason.

This, if true, will be an excellent accomplishment, however, it will be accomplished in spite of President Obama, not because of him. Well done Congress, particularly the House, for telling Obama to shove his tax and spend agenda and for sticking with the sequestration and looking for more.

I'd like to give myself a pat on the back for this, but even I cannot argue it was some kind of special insight.

 

[mtm1963]

Re: CBO estimates 2013 deficit at $642 billion

"The budget office now predicts a 2013 budget deficit of $642 billion, more than $200 billion below its February estimate. This year's shortfall would register at 4 percent of the economy, far less than the 10.1 percent experienced in 2009 when the government ran a record $1.4 trillion deficit."

Thank you President Obama for your prudent deficit reduction while maintaining positive growth. Your leadership was instrumental in avoiding the Bush Double Dip recession. It was bad enough republicans destroyed the economy in the first place but their active agenda to fight you and push an agenda even they knew was wrong (but they know their base doesn't) and keep the deficit higher longer borders on treason.

this is great news.

where's the link?

 

[head of joaquin]

Re: CBO estimates 2013 deficit at $642 billion

Keynes is vindicated again. Increasing aggregate demand through public expenditures during bad times results in quicker, stronger recoveries under the circumstances. Just ask the UK and its austerity double dip recession and falling revenues.

 

[CanadaJohn]

Re: CBO estimates 2013 deficit at $642 billion

Like I said...


I'd like to give myself a pat on the back for this, but even I cannot argue it was some kind of special insight.

Say what you like, facts don't lie - what are the two most consequential reasons for the deficit reduction? The sequestration and the end of the payroll tax holiday. Which one of those did Obama support?

 

[head of joaquin]

Re: CBO estimates 2013 deficit at $642 billion

Say what you like, facts don't lie - what are the two most consequential reasons for the deficit reduction? The sequestration and the end of the payroll tax holiday. Which one of those did Obama support?

The increase of taxes on the top bracket, which you conveniently left out.

 

[Slyfox696]

Re: CBO estimates 2013 deficit at $642 billion

Say what you like, facts don't lie - what are the two most consequential reasons for the deficit reduction? The sequestration and the end of the payroll tax holiday. Which one of those did Obama support?

According to Republicans when it's convenient to blame him...both? "The sequester was Obama's idea in the first place". "People ignore Obama raised the payroll tax".

I've heard those two expressions, or some variation thereof, plenty of times. Of course, the biggest change in the deficit is the improving economy. But if sequestration and payroll tax holiday are also to credit for reducing deficits (as well as higher rates on higher income earners), then I guess Republicans should be praising Obama for them. :shrug:

 

[AlabamaPaul]

Re: CBO estimates 2013 deficit at $642 billion

According to Republicans when it's convenient to blame him...both? "The sequester was Obama's idea in the first place". "People ignore Obama raised the payroll tax".

I've heard those two expressions, or some variation thereof, plenty of times. Of course, the biggest change in the deficit is the improving economy. But if sequestration and payroll tax holiday are also to credit for reducing deficits (as well as higher rates on higher income earners), then I guess Republicans should be praising Obama for them. :shrug:

Actually, it just supports the idea that political gridlock is good for the economy. Neither party is interested in working with the other. They're always looking to the next election to seek support for re-election and hopefully gain single party control over budgetary matters...

 

[CanadaJohn]

Re: CBO estimates 2013 deficit at $642 billion

According to Republicans when it's convenient to blame him...both? "The sequester was Obama's idea in the first place". "People ignore Obama raised the payroll tax".

I've heard those two expressions, or some variation thereof, plenty of times. Of course, the biggest change in the deficit is the improving economy. But if sequestration and payroll tax holiday are also to credit for reducing deficits (as well as higher rates on higher income earners), then I guess Republicans should be praising Obama for them. :shrug:

Republicans should praise Obama for sequestration?? Where can I get some of what you're smoking?? Is this the same Obama who went on a campaign style tour of the country claiming that sequestration had to be stopped and was the next apocalypse and the streets would be littered with the dead and dying and planes would fall from the skies?

 

[Slyfox696]

Re: CBO estimates 2013 deficit at $642 billion

Actually, it just supports the idea that political gridlock is good for the economy.

I wouldn't go that far. Yes, there are times where gridlock is beneficial. But in matters of emergencies, decisive action sometimes needs to be taken.

But the truth is, what's best for our country is usually not what Republicans want and not what Democrats want, but some place in the middle. The problem is, the middle just doesn't buy enough votes.

 

[AlabamaPaul]

Re: CBO estimates 2013 deficit at $642 billion

Republicans should praise Obama for sequestration?? Where can I get some of what you're smoking?? Is this the same Obama who went on a campaign style tour of the country claiming that sequestration had to be stopped and was the next apocalypse and the streets would be littered with the dead and dying and planes would fall from the skies?

Please, you know facts can cause headaches. Good afternoon jcj...

 

[CanadaJohn]

Re: CBO estimates 2013 deficit at $642 billion

Please, you know facts can cause headaches. Good afternoon jcj...

Good afternoon V1.1 - hope all is good

 

[mtm1963]

Re: CBO estimates 2013 deficit at $642 billion

this is great news.

where's the link?

and i'll add, clueless lefties as to why this is happening.

 

[Vern]

Re: CBO estimates 2013 deficit at $642 billion

It's probably close to accurate, but I wouldn't credit Obama. My credit would go to Congress for not passing a new budget in four years and funding the spending through continuing resolutions...

the problem with that false narrative is first you dont understand the budget process and its not the official false republican narrative. The official false republican narrative is "spending is out of control". Besides if "not passing a budget" was the reason, why did republicans wait 4 years to start giving that issue 'credit'. Its just more nonsense the "conservative entertainment complex" spews after the fact.

So the side that blames Congress for killing jobs by not authorizing more spending have everything to do with there being less deficit spending? Interesting concept, at least in the Land of Pedantic Analysis.

who blames congress for not authorizing more spending? You're just confusing your 'talking points'. I personally bring up the fact that republicans killed President Obama's job bill when republicans complain about UE. They claim the deficit was the most important issue so they made a choice that reducing the deficit was more important that helping average Americans.

 

[AlabamaPaul]

Re: CBO estimates 2013 deficit at $642 billion

I wouldn't go that far. Yes, there are times where gridlock is beneficial. But in matters of emergencies, decisive action sometimes needs to be taken.

But the truth is, what's best for our country is usually not what Republicans want and not what Democrats want, but some place in the middle. The problem is, the middle just doesn't buy enough votes.

In reality, it used to be principles that won elections, but now, it has become more of a popularity contest...

 

[Vern]

Re: CBO estimates 2013 deficit at $642 billion

The way I see it, this comes down to political parties.

Republicans, who criticized Obama for years for the deficit, will now take credit for reducing it. Democrats, who blamed Republicans for ballooning it, will now give Obama credit for its reduction. Both justify their hypocrisy because of the other's hypocrisy


The real answer is it's a combination of factors, most notably the improvement in the economy and additional tax revenue from the tax rates that increased at the beginning of the year (both the end of the payroll tax holiday and the raising of taxes on higher earners).

I only see republican hypocrisy in your statements. Republicans blamed President Obama for creating it which is false. The deficits are direct result of the Great Bush Recession and that was a direct result of the Bush Mortgage Bubble and Bush letting Lehman fail. And President Obama did reduce the deficts he was handed. Remember, republicans are not complaining he's not reducing it fast enough. they are pretending he caused it and doing nothing about it.

 

[AlabamaPaul]

Re: CBO estimates 2013 deficit at $642 billion

the problem with that false narrative is first you dont understand the budget process and its not the official false republican narrative. The official false republican narrative is "spending is out of control". Besides if "not passing a budget" was the reason, why did republicans wait 4 years to start saying it. Its just more nonsense the "conservative entertainment complex" spews after the fact.

Oh, I understand it all too well. If you believe the narrative to be false, feel to demonstrate how so through your vast subject matter expertise. I'm not interested in partisan rants, and if this is all you've got, I'd suggest not responding to my posts as I won't be responding unless you want to engage in a reasonable discussion...