Don’t Let Anyone Know, But the Deficit is Shrinking
The media is soft pedaling this story because it does not promote their agenda that all things Bush is bad, but the deficit is going down. Yep, we are fighting a war and with all the extra expenses involved our deficit is still going down.
Not to shabby, but lets keep this between ourselves, no need to let the American public be informed of this seditious news. They might forget what miserable failures the Republicans are.
The new budget year, which began in October 2006 reveals a deficit of $42.2 billion for the period, which is 57.2 percent lower compared to the same period last year.
However, government spending reportedly hit a record high in the same period – $876.3 billion.
According to a forecast by the U.S. Congressional Budget Office, the total federal deficit for the year is estimated to drop to $200 billion versus the $247.7 billion from a year earlier. via All Headline News
Posted February 13, 2007 by Scared Monkeys
Business, Economy, Politics | 7 comments
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7 Responses to “Don’t Let Anyone Know, But the Deficit is Shrinking”
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Shhhhhhhhhhhh!! The Dems will have your head for letting the cat out of the bag
Stands to reason…good old George was working on reducing the percentage of government spending, while the pseudo liberalists were working on increasing Dixie Chicks’ total votes.
Why is it automatically assumed that the Democrats will win after eight years of Republican control? Why should there be a “gag” order put in place, when all the American people really care about is that the best man win, with little regard to what party affiliation he or she has?
We deserve to be kept informed of all the vital issues that effect our lives… Thanks, Scared Monkeys, for bringing this matter to our attention.
I would be much more comfortable with the starve-the-beast strategy of the Bush administration if that huge deficit spending was going toward investment in public infrastructure, education and research in energy, science, technology, and medicine rather than toward a war in Iraq, which may or may not have been unwarranted and may or may not achieve the objectives toward stability in the Middle East and our goals in search of security.
The same article with some interesting facts that might prompt you to do some research on economics before you conclude this is good news:
-Government spending also set a record for the period, but the growth was a slower 2.1 percent, pushing the total to $876.3 billion for the first four months of the current budget year.
-The continued strong growth in revenues reflects the record profits corporations have been recording in recent years and low levels of unemployment, which means more Americans are working and paying taxes.
-Thebudget it sent Congress last week, the administration was less optimistic than CBO about the current budget year, forecasting a deficit of $244.2 billion. However, the administration’s February forecasts have in recent years overshot the actual deficit, allowing the administration to take credit for better-than-expected results.
The deficit is the amount of revenues minus expenses for one year; the US spent 247.7 Billion more than it earned and that amount is added to the cumulative debt of 8 Trillion + dollars. This money has to be borrowed and interest paid. Each American’s share is $825 more than last year bringing the amount to $27,825. Your article is factual incorrect – the numbers don’t lie.
Thanks Leslie, for the balancing information.
Record levels of profit? Isn’t that what business is supposed to be, make profits? Does anyone get it that Tyco, Enron, et. al. actually happened under the Clinton administration? Tell D.Koslowski and M. Swartz that they ran free under Bush -
Isn’t unemployment being low a good thing? Or should we be like France and rioting in the streets?
How about the fact that part of the deficet is money we spend in aid to other countries? Where is the outrage about that?