Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It is not a taking point, it is not new, and not from the left. You manage to be wrong with everything you said. Congratulations.
bull, it was a few short years ago the left was whining that the economy crashed because Bush turned the Clinton surpluses into a Deficit of a few hundred billion..
bull, it was a few short years ago the left was whining that the economy crashed because Bush turned the Clinton surpluses into a Deficit of a few hundred billion..
Again, it is not a taking point, it is not new, and not from the left. Did you get it this time? People (other than you) have always understood it is ok to have debt as long as you can afford it.
Last edited by Finn_Jarber; 10-09-2014 at 06:32 AM..
Again, it is not a taking point, it is not new, and not from the left. Did you get it this time? People (other than) have always understood it is ok to have debt as long as you can afford it.
And yet the left suggested Bush caused the economic collapse because he had deficits averaging 1/3rd our current ones..
You can ignore the facts all you want and suggest you guys werent whining non stop about it, but that doesnt mean they werent.
The federal budget deficit just keeps getting smaller.
It fell sharply in 2014 -- its fifth consecutive annual decline.
That's according to an estimate Wednesday by the Congressional Budget Office. The deficit for fiscal year 2014, which ended on Sept. 30, will come in at roughly $486 billion, the CBO said. The Treasury Department will report the official number in a few weeks.
The 2014 number is $195 billion less than a year earlier. And as a share of the economy, the deficit dropped to 2.8% of GDP from 4.1% last year.
The deficit is the gap between how much the government spends and how much it takes in over the year. It borrows to make up the difference.
The biggest reason for the slide: An improving economy, higher taxes, and continued spending restraint.
Revenue grew by 9% over the prior year, or by $239 billion. That growth was fueled largely by a 7% jump in income and payroll tax receipts combined. Corporate tax revenue rose by 18%.
Looks like deficits are down about 65% from the peak.
Well looky there............................................. ............ the 2014 deficit is still HIGHER than the 2008 deficit. And the libs celebrate this? This, of course, is after advancing the debt to $17.8 trillion. Being a liberal must be very confusing and difficult these days when one attempts to rationalize abject failure.
Well looky there............................................. ............ the 2014 deficit is still HIGHER than the 2008 deficit. And the libs celebrate this? This, of course, is after advancing the debt to $17.8 trillion. Being a liberal must be very confusing and difficult these days when one attempts to rationalize abject failure.
Its like a bank robber telling the judge,
Well the first bank I robbed I took $1M Then the second, I only took $500K And the last bank, I only took $400K
no judge, I dont think I'm a bad person, please dont send me to prison..
And yet the left suggested Bush caused the economic collapse because he had deficits averaging 1/3rd our current ones..
You can ignore the facts all you want and suggest you guys werent whining non stop about it, but that doesnt mean they werent.
I understand the reason why the point flies a mile over your head. As long as you focus 100% on Bush, Obama, the left, the right and other posters, it will be impossible for you to comprehend it. Same goes for 'hawkeye2009".
Its not really correct to say that the federal deficit drops. It is still growing by 1/2 a Trillion Dollars per year. But it is still good news. But, its not like everything is rosy and nice. The long term look is not good. The US still has a problem with a decreasing percentage of its citizens working, and the average houshold income is still about 8% what it was 5 years ago. The bottom line is that all this really means is that we are being taxed even more than we were 5 years ago. That's not good news, unless you're living off the govt.(The hard work of others) Then you don't care.
Excellent news. I will be happier when we are paying it down, but hearing it is going in the right direction is always good news.
That is good news given the alternative, but this is still higher than Bush's 2008 deficit which was his highest before he got help from Obama in 2009.
Meanwhile, workforce participation, youth and black unemployment, household income and the buying power of the dollar are all disasters.
Are we better off today than we were four years ago?
Its not really correct to say that the federal deficit drops. It is still growing by 1/2 a Trillion Dollars per year.
I assume you mean debt. Yes, it is still growing.
Quote:
But it is still good news. But, its not like everything is rosy and nice. The long term look is not good. The US still has a problem with a decreasing percentage of its citizens working
Yes, this will be the fact of life for the next 20-30 years. In Europe, the labor force is even smaller (as a %) since their elderly are already retired. Same in Japan. We knew the boomers were going to get old one day, so it is not a surprise.
Quote:
and the average houshold income is still about 8% what it was 5 years ago.
The less people work, the lower the average will be.
Quote:
The bottom line is that all this really means is that we are being taxed even more than we were 5 years ago. That's not good news, unless you're living off the govt.(The hard work of others) Then you don't care.
Actually government workers pay tax too. Ask anyone in the military for example.
Are we better off today than we were four years ago?
Four years ago the deficit was 1.4 trillion and unemployment about 10%. We still have a long way to go, but to argue that we were better off four years ago than today does not make any sense.
I don't know why people see these numbers as some kind of "celebration" (as someone else said). The numbers are what they are. I don't see why they cannot be discussed without all the hissing and spitting.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
