New Richard Dawkins Documentary: "The Enemies of Reason"

Become a part of the TranceAddict community!

Frequently Asked Questions - Please read this if you haven't

TranceAddict Forums > Other > Political Discussion / Debate > Federal Deficit Decreasing

Pages (2): [1] 2 »

Last Thread Next Thread

Author

Thread

Yoepus
Neo-condimist

Registered: Jan 2002
Location: Ketchup fields, Texas

Federal Deficit Decreasing

quote:

http://news.yahoo.com/s/ap/20070811...wyEPsKIxDib.HQA

Federal deficit down to $157.3 billion

AP

WASHINGTON - The federal deficit so far this budget year is running sharply lower, driven by record revenues pouring into government coffers.
ADVERTISEMENT

The Treasury Department reported on Friday that the government produced a deficit of $157.3 billion for the budget year that began last Oct. 1. That's a substantial improvement from the red ink figure of $239.6 billion produced for the corresponding 10-month period last year.

The lower year-to-date deficit was the result of a record of $2.12 trillion in revenues. Spending, however, was higher — $2.27 trillion, which also marked an all-time high.

The White House predicts that the deficit this year drop to $205 billion.

But the nonpartisan Congressional Budget Office predicts the government will produce even less red ink this year. It recently said the deficit will be "toward the lower end" of a $150 billion to $200 billion range.

Democrats and the Bush administration have been at odds over the nation's fiscal situation. Democrats believe the shrinking deficits won't last. President Bush, meanwhile, has called on the Democratic-controlled Congress to show some restraint in its spending.

So far this budget year, the biggest spending categories are programs from the Health and Human Services Department, including Medicare and Medicaid, $560.2 billion; Social Security, $516.1 billion; military, $437.7 billion, and interest on the public debt, $385.1 billion.

For July, the government produced a deficit of $36.3 billion, up from $33.2 billion for the same month last year.

Revenues in July came to $170.4 billion, while spending outpaced that at $206.8 billion. Both revenue and spending were records for the month.

Hmmm...

Good news afterall, perhaps democrats should stay away from changing over taxing... especially messing with the capital gains tax.

___________________
SAVE ZIONIST MUSTARD: BUY ZIONIST KETCHUP!

Click here to support the free mustard alliance.

Aug-11-2007 15:42 Israel

Click here to Send Yoepus a Private Message

Arbiter
Naked Power Organ

Registered: May 2002
Location:

For some reason, I have difficulty getting excited about falling further behind at a marginally slower rate.

Aug-12-2007 03:52

Click here to Send Arbiter a Private Message

Spirit5
Nobody

Registered: Jun 2005
Location:

Well the stock market is not doing so well..noteably the Dow....hmmm and the deficit is decreasing? I have thought that there would be less money going into the government with Bush's tax cuts, as well as all the money we have spent in Iraq. Most of the money we are getting is from China, Japan and a few other countries. There is still a large trade deficit..we still owe them a lot of $$$.

Aug-12-2007 03:57 United States

Click here to Send Spirit5 a Private Message

spiflicated
tranceaddict

Registered: Mar 2007
Location: California

Re: Federal Deficit Decreasing

quote:
Originally posted by Yoepus
Hmmm...

Good news afterall, perhaps democrats should stay away from changing over taxing... especially messing with the capital gains tax.

and I thought the point of raising taxes was to pay for those couple of billion dollars that are being spent for which there is NO revenue

Aug-12-2007 17:24 United States

Click here to Send spiflicated a Private Message

cronodevir
Me.

Registered: Jul 2006
Location: Bum Fuck Nowhere

Welcome to capitalism. And more specificly, the use of usery.

___________________
i'm the alchemist without the cyst without a doubt out of the mist
dig out the grout expose the pest to take it out without the rest

they will attest my patients restorations from the best

i'm from the west i'm not an acmeist only the alchemist

Aug-12-2007 17:43 United States

Click here to Send cronodevir a Private Message

venomX
ISO salty whenches

Registered: Apr 2001
Location: Vancouver, Canada

How is this a good thing? This hasn't come to be due to anything the administration has made. The only reason there is a decrease in the deficit is from record income. If you read what you posted there was also record spending. So no real decrease has happened in spending, which is what is driving the deficit to begin with.

___________________
Poetry>Byron//Blog>TheMean

quote:
Orbax
At that point you kind of crossed the rubicon and you might as well lay siege to Rome

Aug-12-2007 20:48 Dominican Republic

Click here to Send venomX a Private Message

Q5echo
asymetrical scepticism

Registered: Feb 2004
Location: Dallas

quote:
Originally posted by venomX
The only reason there is a decrease in the deficit is from record income.

and Federal revenue has little to do with Federal taxes, right?

Aug-12-2007 22:12 United States

Click here to Send Q5echo a Private Message

venomX
ISO salty whenches

Registered: Apr 2001
Location: Vancouver, Canada

quote:
Originally posted by Q5echo
and Federal revenue has little to do with Federal taxes, right?

There are 2 ways to decrease the deficit. One is to increase revenue, which is something like what happened. The other is to decrease spending, which has not happened. The best alternative is to do both at the same time. My point was that the increase in revenue was not due to any policy implemented by this administration, it has been circumstance. Therefore, there is not much to celebrate, because the government hasn't really done anything to improve the condition of the deficit.

___________________
Poetry>Byron//Blog>TheMean

quote:
Orbax
At that point you kind of crossed the rubicon and you might as well lay siege to Rome

Aug-12-2007 22:23 Dominican Republic

Yoepus
Neo-condimist

Registered: Jan 2002
Location: Ketchup fields, Texas

The Federal government under Bush increased revenues by decreasing taxes, this is important to note - as it is a substantiates economic theory.

Spending increased, and no one likes that - but right now the House who controls most spending legislation is in the hands of democrats...

Regardless most Federal spending is on four things: Defense, Health, Social Security, and paying down debt. And no one has offered any new ideas on how to change spending in those fields.

___________________
SAVE ZIONIST MUSTARD: BUY ZIONIST KETCHUP!

Click here to support the free mustard alliance.

Aug-13-2007 00:34 Israel

Q5echo
asymetrical scepticism

Registered: Feb 2004
Location: Dallas

quote:
Originally posted by venomX
There are 2 ways to decrease the deficit.

right it's simple math.

quote:
One is to increase revenue, which is something like what happened.

that's exactly what happened.

quote:
My point was that the increase in revenue was not due to any policy implemented by this administration, it has been circumstance.

that's where you are wrong.

you raise taxes/revenue by cutting the marginal rate of taxation, not by increasing it.
though not completely constrained to that fact, if you want to talk about direct corrolations, only one person and roomful of Legislators was responsible for it.

Aug-13-2007 00:52 United States

occrider
Traveladdict

Registered: Oct 2000
Location: New York

quote:
Originally posted by Q5echo

you raise taxes/revenue by cutting the marginal rate of taxation, not by increasing it.
though not completely constrained to that fact, if you want to talk about direct corrolations, only one person and roomful of Legislators was responsible for it.

What? Heh please elaborate such that it's applicable to the current economic situation.

___________________
Retro ...