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so where is the lower revenue causing 6 trillion in debt???
On average tax receipts increased by 26% from Clinton to Bush. They have increased under 1% from Bush to Obama. Receipts were heavily depressed for years. Historical Federal Receipt and Outlay Summary
Federal tax receipts are only barely above pre-recession levels.
Last edited by A Common Anomaly; 01-30-2013 at 12:44 PM..
so where is the lower revenue causing 6 trillion in debt???
You are mixing up debt and deficits. Deficits are the diff between spending and revenue on an annual basis. Debt is an accumulation of annual deficits and surpluses.
By your own figures, revenue dropped from 2.6 trillion in 2007 to 2.1 trillion in 2009. $500 billion is not significant to a $1.2 trillion deficit? Remember, the federal deficit was already $458.55 billion in 2008, before Obama was President. Subtract $500 billion in revenue from that and the deficit is already at a trillion dollars. Add a few hundred billion for stimulus and that's the deficit for 2009.
2013 revenue is expected to be $2,901.96 trillion. That's why the 2013 deficit is expected to fall by over $400 billion. The narrative that our deficits have exploded because Pres. Obama went on a spending spree is a zombie lie.
I was just using Greece as the poster child. I did say austerity doesn't work like spending doesn't work.
Iceland is the only one who truly recovered. 4 years and they now have a surplus.
Compare that to 4 years of austerity or 4 years of spending. These have resulted in just more debt.
Iceland has a population of about 320,000 and is not far removed from a fish based economy.
Iceland also has a Nordic Welfare System and Universal Health Care for all.
What they don't have is defence, a military or crime.
Iceland's population is about 200K short of the least populated U.S. state and we sure don't rely on fish for the economy.
You are mixing up debt and deficits. Deficits are the diff between spending and revenue on an annual basis. Debt is an accumulation of annual deficits and surpluses.
By your own figures, revenue dropped from 2.6 trillion in 2007 to 2.1 trillion in 2009. $500 billion is not significant to a $1.2 trillion deficit? Remember, the federal deficit was already $458.55 billion in 2008, before Obama was President. Subtract $500 billion in revenue from that and the deficit is already at a trillion dollars. Add a few hundred billion for stimulus and that's the deficit for 2009.
I am not mixing up anything...you are just spinning
REVENUE for 2012..... 2.5 trillion.......spending for 2012 3.8 trillion....deficit.....1.3 trillion....total debt at the end of 2012(dec31) 16.4 trillion
fact bush spend quite heavily...and obusha has spent even more
fact debt when bush took over 5.87 trillion...when he was done...10.6 trillion (just under 5 trillion)almost double.....and now obusha has nearly doubled it again..adding 6 trillion in 4 years...with 4 more to go..........................is that your idea of utopia....22 trillion dollars of debt by 2016???????
Investing into education, health care, public safety, and infrastructure not only improves the quality of lives of people, but it helps economic growth.
This idea that public teachers, health workers, cops, roads, bridges, etc. harms the economy or does nothing is nonsense. It is not based on any reasoning at all - it pure unsubstantiated, sophomoric opinion.
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Come on, not even you believe this. It's all on the news. The plan the Dem's are currently promoting is to not make the agreed to cuts and address the deficit with new taxes.
I seriously believe that you should move to Somalia if you want a stateless society. You are the one claiming that public employment is parasitic.
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There is nothing free.
And? I never said otherwise. Either you are going to start adding something of value to this conversation or it is over.
Last edited by A Common Anomaly; 01-30-2013 at 12:52 PM..
2013 revenue is expected to be $2,901.96 trillion. That's why the 2013 deficit is expected to fall by over $400 billion. The narrative that our deficits have exploded because Pres. Obama went on a spending spree is a zombie lie.
1. yes the """EXPECTED""" revenue is supposed to about 2.9 trillion.....I am sure we will see the usualy """UNEXPECTED""'
the economy just shrank...ss overdepelted (puts out more than bringing in)...medicare/medicad hitting 900 billion,,, unemployment extended again....you really think the deficit will fall??? if so I have a bridge to sell you
I am not mixing up anything...you are just spinning
REVENUE for 2012..... 2.5 trillion.......spending for 2012 3.8 trillion....deficit.....1.3 trillion....total debt at the end of 2012(dec31) 16.4 trillion
fact bush spend quite heavily...and obusha has spent even more
fact debt when bush took over 5.87 trillion...when he was done...10.6 trillion (just under 5 trillion)almost double.....and now obusha has nearly doubled it again..adding 6 trillion in 4 years...with 4 more to go..........................is that your idea of utopia....22 trillion dollars of debt by 2016???????
The 2009, $1.3 trillion deficit you attribute to Pres. Obama. however, that was Bush's budget and two weeks before Mr. Obama was inaugurated the CBO was already projecting that deficit.
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CBO projects record $1.2 trillion deficit - Jan. 7, 2009
That revenue decline, in turn, is the biggest reason for the worsening outlook over the next decade, said Diane Lim Rogers, chief economist at the Concord Coalition, a deficit watchdog group. "The revenue effect is huge."
Tell me, how did Obama cause the 2009 deficit when it was projected two weeks before he was President?
Its amazing how people do not understand that Gov't spending in the private sector helps create private sector Jobs. Watch and learn
With all the spending going on, why isn't the unemployment rate lower? Oh yeah, cause it's a bunch of bull.
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