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  1. #1
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    Deficit increases, spending out of control.

    CBO revises estimate showing a deficit increase to around 1.6 trillion:

    "The federal deficit will soar to nearly $1.6 trillion this year, miring the nation in the deepest pool of red ink since the end of World War II, the nonpartisan Congressional Budget Office and the White House reported Tuesday."

    Link: http://www.washingtonpost.com/wp-dyn...082501309.html

    New Budget Estimates Show Unsustainable Spending and Debt:

    "Driven by this spending, America will run its first ever trillion-dollar budget deficit this year. Even worse, the President's budget would borrow an additional $9 trillion over the next decade, more than doubling the national debt. By 2019, America will be spending nearly $800 billion on net interest to service this large debt."

    Link: http://www.heritage.org/Research/Budget/wm2595.cfm
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  2. #2
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    Re: Deficit increases, spending out of control.

    "Obama says deficit is falling at the fastest rate in 60 years"


    http://www.politifact.com/truth-o-me...rate-60-years/


    "In 2009, the first year of Obama’s presidency, after tax cuts and new spending, the deficit was 10.1 percent of GDP. In 2012, the deficit declined to 7 percent of GDP. So that’s a decline of 3.1 percentage points.

    You have to go back 63 years to the period between 1946 and 1949 to find a bigger four-year drop than what the country saw between 2009 and 2012. Right after World War II ended, the U.S. deficit stood at 7.2 percent of GDP. By 1949, America had a surplus of 0.2 percent. So that’s a decline of 7.4 percentage points.

    We downloaded data from the Office of Management and Budget that shows the deficit as a percent of GDP all the way back to 1930. When we ran the numbers, we found, as Obama said, you need to go back to 1946 to find a larger change."
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  3. #3
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    Re: Deficit increases, spending out of control.

    The words, "Obama says" hold absolutely no weight with me and shouldnt with anyone else. I will believe the CBO, who uses actual facts and offers references, over Obama's word.
    I will no longer be replying to any post from a Liberal going forward. I will continue, as normal, to discuss topics and engage in intellectual exchanges with non-leftist

  4. #4
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    Re: Deficit increases, spending out of control.

    "We downloaded data from the Office of Management and Budget that shows the deficit as a percent of GDP all the way back to 1930. When we ran the numbers, we found, as Obama said, you need to go back to 1946 to find a larger change." Post 2
    "Real Boys Kiss Boys" -M.L.

  5. #5
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    Re: Deficit increases, spending out of control.

    The problem is, no matter how you crunch the numbers, the money allocated to every member of American society as the amount of their burden, keeps increasing. It is currently over $55,000. http://www.dailymail.co.uk/news/arti...lar-bills.html
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  6. #6
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    Re: Deficit increases, spending out of control.

    So you agree that being a borrow and spend conservative isn't working.
    "Real Boys Kiss Boys" -M.L.

  7. #7
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    Re: Deficit increases, spending out of control.

    Quote Originally Posted by CowboyX View Post
    So you agree that being a borrow and spend conservative isn't working.
    I agree that being a borrow and spend Liberal isnt working.
    I will no longer be replying to any post from a Liberal going forward. I will continue, as normal, to discuss topics and engage in intellectual exchanges with non-leftist

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  9. #8
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    Re: Deficit increases, spending out of control.

    That's why liberals are for taxation, progressive taxation, specifically.
    "Real Boys Kiss Boys" -M.L.

  10. #9
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    Re: Deficit increases, spending out of control.

    Quote Originally Posted by CowboyX View Post
    That's why liberals are for taxation, progressive taxation, specifically.
    Which is absolutely no better and by many counts, horribly worst. Tax companies out of business. Tax people into poverty. Yeah, that sounds like economic planning.
    I will no longer be replying to any post from a Liberal going forward. I will continue, as normal, to discuss topics and engage in intellectual exchanges with non-leftist

  11. #10
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    Re: Deficit increases, spending out of control.

    I suppose that is possible (into poverty, really?). I live in Taxachusetts and do pay quite a bit, nothing I'd gripe about though. Especially considering the value I get in return.
    "Real Boys Kiss Boys" -M.L.

  12. #11
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    Re: Deficit increases, spending out of control.

    http://www.huffingtonpost.com/2013/0...n_3581160.html
    WASHINGTON -- The federal government on Thursday reported a rare surplus of $116.5 billion in June, the largest for a single month in five years. The gain kept the nation on track for its lowest annual deficit in five years.

    The June surplus was due in part to $66.3 billion in dividend payments from Fannie Mae and Freddie Mac. The mortgage giants were taken over by the government at the height of the 2008 financial crisis and are now repaying taxpayers for the support they received.

    Through the first eight months of the budget year, the deficit has totaled $509.8 billion, according to the Treasury. That's nearly $400 billion lower than the same period last year.

    The Congressional Budget Office forecasts the annual deficit will be $670 billion when the budget year ends on Sept. 30. If correct, that would be well below last year's deficit of $1.09 trillion and the lowest since President Barack Obama took office. It would still be the fifth-largest deficit in U.S. history.

    A far cry from Clinton's surpluses, but at least drifting in the right direction. Mostly because tax receipts are up, some of the bailout money is coming back, and the economy, tepid though it is, continues to grow slowly.

    The fact is, to get a balance we need less spending and more taxation. you won't ever balance the budget if you ramp up spending or ramp down taxation. The democrats tend to at least only do one of those two things as where republicans do both. The tea party types at least claim to be for lower spending, but still have the problem of wanting to also drop taxation.

    What you need for the deficit is to have a rising economy, modest tax hikes, and good spending discipline with at least some cuts. The trick is that kind of policy tends to hamper growth, which is why you need to do it when the economy is generally doing well.
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  13. #12
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    Re: Deficit increases, spending out of control.

    Quote Originally Posted by Sigfried View Post
    http://www.huffingtonpost.com/2013/0...n_3581160.html
    WASHINGTON -- The federal government on Thursday reported a rare surplus of $116.5 billion in June, the largest for a single month in five years. The gain kept the nation on track for its lowest annual deficit in five years.

    The June surplus was due in part to $66.3 billion in dividend payments from Fannie Mae and Freddie Mac. The mortgage giants were taken over by the government at the height of the 2008 financial crisis and are now repaying taxpayers for the support they received.

    Through the first eight months of the budget year, the deficit has totaled $509.8 billion, according to the Treasury. That's nearly $400 billion lower than the same period last year.

    The Congressional Budget Office forecasts the annual deficit will be $670 billion when the budget year ends on Sept. 30. If correct, that would be well below last year's deficit of $1.09 trillion and the lowest since President Barack Obama took office. It would still be the fifth-largest deficit in U.S. history.

    A far cry from Clinton's surpluses, but at least drifting in the right direction. Mostly because tax receipts are up, some of the bailout money is coming back, and the economy, tepid though it is, continues to grow slowly.

    The fact is, to get a balance we need less spending and more taxation. you won't ever balance the budget if you ramp up spending or ramp down taxation. The democrats tend to at least only do one of those two things as where republicans do both. The tea party types at least claim to be for lower spending, but still have the problem of wanting to also drop taxation.

    What you need for the deficit is to have a rising economy, modest tax hikes, and good spending discipline with at least some cuts. The trick is that kind of policy tends to hamper growth, which is why you need to do it when the economy is generally doing well.
    Is the part I put in bold a failed attempt at a joke? The fact is both parties love to spend. Just on different things. However the biggest cuts of which I am aware in recent history have come out of a Republican-controlled congress and Democrats just love to give Clinton credit for it.

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