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I really doubt we have taken in more money than we have spent.
We haven't. They just have more than they thought they did. They include what they are borrowing in the budget. What it is is a slowing if the need to borrow not having more than we need. It's more than we need if we borrow what we normally do.
lets be honest.. The drop in the deficit is taking place for lots of reasons including increased revenues, lower expenses, the sequester, reaching the deficit ceiling, and yes, even an economy rebound..
One can argue about why this is taking place, but its hard to dispute that its happening, albeit slowly. Economies turn around and always have.
All of those are true. The one-time transfer is smoke and mirrors and is discussed by the GAO. Regardless, we are certainly better off than we were at $1.2 trillion deficits. The improvement is only relative to the worst deficits in history.
Yes, things are improving. Relative to the total expended with the stated purpose of fixing the economy it was an abject failure. The deficit is still too high. Interest rates are artificially low. The money supply is artificially high. UE is barely under 8% and the participation rate is worse.
Record food stamps, disability claims, trade surplus issues, and Obamcare issues still dog the horizon. Housing would not be in recovery mode if the fed wasn't pumping of the GSE's and holding rates low.
I've stated that Obama isn't entirely to blame: things started going really bad 50 years ago. Much of it just came due on his watch. He didn't help anything.
LMAO The gold standard lengthened the Great Depression???? The gold standard that FDR manipulated? How can you not know FDR set the price of Gold.
If you want to know about the affect gold had on the Depression look up Greshams Law. Maybe you'll learn something.
Since when is deflation bad?
The gold standard created deflation. Why is deflation bad? Let me count the ways.
When people expect falling prices, they become less willing to spend. This buts a drag on the economy as sales fall, leading to more unemployment and more deflation.
Another effect is that deflation increases the burden of debts. This was particularly the case with farmers. They all had mortgages on their farms, which were fixed. However, the prices on their crops kept falling, to the point where they couldn't earn enough to pay the mortgages.
Third, since deflation causes unemployment, it puts downward pressure on wages too. So, we end up with downward price and wage pressure, while debts remain fixed resulting in a deflationary spiral with high unemployment.
No it isn't. Government revenue is bouncing back faster than expected and the projection now is for a deficit of $642 billion - less than half of what it was 4 years ago and roughly $200 billion less than what it was expected to be in February. We'll know the final number is just a couple of months - the fiscal year ends at the end of September.
The deficit is falling fast.
The anticipated deficit for 2013 is $850 billion. Liberals celebrate this deficit (which is double the average Bush deficit) as "progress", as it is under $1 trillion for the first time in the Obama admin.
The anticipated deficit for 2013 is $850 billion. Liberals celebrate this deficit (which is double the average Bush deficit) as "progress", as it is under $1 trillion for the first time in the Obama admin.
Definition of liberal: Someone so open minded their brain fell out.
I don't get how liberals celebrate this while ignoring the ever growing debt. Talk about not seeing the forest for the trees.
No it isn't. Government revenue is bouncing back faster than expected and the projection now is for a deficit of $642 billion - less than half of what it was 4 years ago and roughly $200 billion less than what it was expected to be in February. We'll know the final number is just a couple of months - the fiscal year ends at the end of September.
The deficit is falling fast.
The anticipated deficit for 2013 is $850 billion. Liberals celebrate this deficit (which is double the average Bush deficit) as "progress", as it is under $1 trillion for the first time in the Obama admin.
...
What’s really remarkable at this point, however, is the persistence of the deficit fixation in the face of rapidly changing facts. People still talk as if the deficit were exploding, as if the United States budget were on an unsustainable path; in fact, the deficit is falling more rapidly than it has for generations, it is already down to sustainable levels, and it is too small given the state of the economy.
...
But after peaking in 2009 at $1.4 trillion, the deficit began coming down. The Congressional Budget Office expects the deficit for fiscal 2013 (which began in October and is almost half over) to be $845 billion. That may still sound like a big number, but given the state of the economy it really isn’t.
Bear in mind that the budget doesn’t have to be balanced to put us on a fiscally sustainable path; all we need is a deficit small enough that debt grows more slowly than the economy. To take the classic example, America never did pay off the debt from World War II — in fact, our debt doubled in the 30 years that followed the war. But debt as a percentage of G.D.P. fell by three-quarters over the same period.
...
The anticipated deficit for 2013 is $850 billion. Liberals celebrate this deficit (which is double the average Bush deficit) as "progress", as it is under $1 trillion for the first time in the Obama admin.
According to the article you linked "With three months to go in the fiscal year, we’re on track to log a $759 billion deficit for the fiscal year"
Average deficit is an meaningless number. The deficit when Obama came into office was on its way to 1.4 Trillion. If we hit the $759 number then the annual deficits have roughly been halved. It was unlikely that we were going to go from 1.4 Trillion deficits to something like 200 Billion in a short period of time given the state of the economy.
According to the article you linked "With three months to go in the fiscal year, we’re on track to log a $759 billion deficit for the fiscal year"
Average deficit is an meaningless number. The deficit when Obama came into office was on its way to 1.4 Trillion. If we hit the $759 number then the annual deficits have roughly been halved. It was unlikely that we were going to go from 1.4 Trillion deficits to something like 200 Billion in a short period of time given the state of the economy.
That deficit included $800 billion in TARP which was repaid.
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Definition of liberal: Someone so open minded their brain fell out.
