Federal Budget Deficit Falls

[GaryC 7]

Federal Budget Deficit Falls

By THE ASSOCIATED PRESS

Published: October 12, 2007

The Bush administration reported that the federal budget deficit fell to $162.8 billion in the budget year just ended, the lowest amount of red ink in five years. The administration credited the president’s tax cuts for helping generate record-breaking revenues but warned of an approaching “fiscal train wreck” unless Congress dealt with unsustainable growth in Social Security, Medicare and Medicaid spending. The deficit for the 2007 budget year, which ended Sept. 30, was 34.4 percent lower than the $248.2 billion deficit recorded in 2006. It was $81 billion lower than the administration had projected in February.

http://www.nytimes.com/2007/10/12/washingt...brfs-money.html

[Jasman0717 9]

But red ink is still red ink

[Mr. Big Dog 10,747]

Before we start uncorking the champaigne, let's reflect on two things:

1) Monday, October 1, 2007

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday night. The House of Representatives has already signed off on the plan, without a direct vote.

That’s $9,815,000,000,000.00.

2) That debt was less than 6 trillion when Bush II took office, it is not close to 10 trillion and it is still getting larger.

I fail to see the reason to celebrate.

[Pinocchio Liberal 268]

Before we start uncorking the champaigne, let's reflect on two things:

1) Monday, October 1, 2007

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday night. The House of Representatives has already signed off on the plan, without a direct vote.

That’s $9,815,000,000,000.00.

2) That debt was less than 6 trillion when Bush II took office, it is not close to 10 trillion and it is still getting larger.

I fail to see the reason to celebrate.

I see 25 years of the same upward movement. Funny how Bush is the only one mentioned in your comment.

[GaryC 7]

Before we start uncorking the champaign, let's reflect on two things:

1) Monday, October 1, 2007

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday night. The House of Representatives has already signed off on the plan, without a direct vote.

That’s $9,815,000,000,000.00.

2) That debt was less than 6 trillion when Bush II took office, it is not close to 10 trillion and it is still getting larger.

I fail to see the reason to celebrate.

This story was about the Budget Deficit, not the national debt. But the first step in reducing the rate of increase of the national debt is to reduce the debt we incur in the budget. The tax cuts have seemed to have done what was wanted and increased the incoming revenue. The problem is the spending.

I may also point out that the congress is the only government agency that can spend money. We need to get the tax and spend dems and the total idiot phony reps out of congress this next year and put people in there that have a brain. There is no excuse for this.

[Mr. Big Dog 10,747]

Before we start uncorking the champaigne, let's reflect on two things:

1) Monday, October 1, 2007

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday night. The House of Representatives has already signed off on the plan, without a direct vote.

That’s $9,815,000,000,000.00.

2) That debt was less than 6 trillion when Bush II took office, it is not close to 10 trillion and it is still getting larger.

I fail to see the reason to celebrate.

I see 25 years of the same upward movement. Funny how Bush is the only one mentioned in your comment.

Actually, during the 4 years prior to Bush taking office, there was no upward movement. Debt was actually being paid down - for the first time in 70 years. Bush changed that trend right quick and amassed a debt like no other. That is why he is worth being singled out.

[Jasman0717 9]

Before we start uncorking the champaigne, let's reflect on two things:

1) Monday, October 1, 2007

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday night. The House of Representatives has already signed off on the plan, without a direct vote.

That's $9,815,000,000,000.00.

2) That debt was less than 6 trillion when Bush II took office, it is not close to 10 trillion and it is still getting larger.

I fail to see the reason to celebrate.

My little pea brain can't even comprehend the amounts they are loosely throwing around here

[Dan J 277]

Before we start uncorking the champaigne, let's reflect on two things:

1) Monday, October 1, 2007

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday night. The House of Representatives has already signed off on the plan, without a direct vote.

That’s $9,815,000,000,000.00.

2) That debt was less than 6 trillion when Bush II took office, it is not close to 10 trillion and it is still getting larger.

I fail to see the reason to celebrate.

I see 25 years of the same upward movement. Funny how Bush is the only one mentioned in your comment.

Actually, during the 4 years prior to Bush taking office, there was no upward movement. Debt was actually being paid down - for the first time in 70 years. Bush changed that trend right quick and amassed a debt like no other. That is why he is worth being singled out.

Yup The only time in the last 25 years where the budget was balanced and debt was actually going down, was when a democrat was in office. Maybe the label of fiscal conservatives is on the wrong party.

[Ban Hammer 13,342]

My little pea brain can't even comprehend the amounts they are loosely throwing around here

let's put it this way - claudeth could not spend it all shopping no matter what

[almaty 19]

Before we start uncorking the champaigne, let's reflect on two things:

1) Monday, October 1, 2007

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday night. The House of Representatives has already signed off on the plan, without a direct vote.

That’s $9,815,000,000,000.00.

2) That debt was less than 6 trillion when Bush II took office, it is not close to 10 trillion and it is still getting larger.

I fail to see the reason to celebrate.

I see 25 years of the same upward movement. Funny how Bush is the only one mentioned in your comment.

Actually, during the 4 years prior to Bush taking office, there was no upward movement. Debt was actually being paid down - for the first time in 70 years. Bush changed that trend right quick and amassed a debt like no other. That is why he is worth being singled out.

Yup The only time in the last 25 years where the budget was balanced and debt was actually going down, was when a democrat was in office. Maybe the label of fiscal conservatives is on the wrong party.

good point and true..under clinton..there was progress..bush f##ked it up..with his dirty little war

[Jasman0717 9]

My little pea brain can't even comprehend the amounts they are loosely throwing around here

let's put it this way - claudeth could not spend it all shopping no matter what

I sure wouldn't bet against her