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Good Gawd! -- FY '03 Deficit of $450 Billion

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  • #1

    Good Gawd! -- FY '03 Deficit of $450 Billion

    Riiiiiip. Ouch.

    http://www.washingtonpost.com/wp-dyn/articles/A56224-2003Jul14.html?nav=hptop_tb


    (This does include some stuff that has been proposed, but not yet inacted, such as prescription drugs.)

    Also out, the administration is settling into a 3.5% of GDP military budget rather than 4%. This is a rather huge change.
    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891
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  • #2
    How do they make up shortfall when the government runs a deficit?

    Do they sell bonds or print money or what?
    "Wait a minute..this isn''t FAUX dive, it's just a DIVE!"
    "...Mangy dog staggering about, looking vainly for a place to die."
    "sauna stories? There are no 'sauna stories'.. I mean.. sauna is sauna. You do by the laws of sauna." -P.

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    • #3
      Sell bonds.
      I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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      • #4
        [The deficit] underscores the continuing deterioration of the government's fortunes since 2000, when the Treasury posted a $236 billion surplus. That represents a fiscal reversal exceeding $680 billion.
        Way to go, W!

        Sell bonds.
        Isn't it now a bad time to sell bonds, due to a bond market bubble?

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        • #5
          Bond market bubble? Why give in to hystrionics? It's just a cyclical peak in prices.
          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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          • #6
            Bond market bubble? Why give in to hystrionics? It's just a cyclical peak in prices.
            Maybe so, but I can't see answer to my question in that post of yours. I don't want to give any impression that you should answer to every question considering basic economics, but since you're almost the only one currently around in this thread...

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            • #7
              Sten would be able to give you a real answer. I would just be pulling stuff out of my ass. Ask him.
              I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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              • #8
                what really irks me is that my family didn't really get much of the tax cut which will exacerbate this situation.

                sucks to be a government employee (teacher) with a (relatively) low salary, mm? especially when you're being hounded by parents who think they have perfect little demon angels, and when the government's breathing down your neck to avoid anything remotely creating liability while simultaneously expecting that no child be left behind.

                way to go, bush.
                B♭3

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                • #9
                  Its not to bad.
                  Until Foreign Countries demand Payment in Euro's :=)
                  Curse your sudden but inevitable betrayal!

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                  • #10
                    Is there anything about Bush that isn't ending up being a total disaster?

                    Didn't think so...
                    Tutto nel mondo è burla

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                    • #11
                      With interest rates so low, savings bond return rates are lower. Massive deficits and debt are economy killers.
                      To us, it is the BEAST.

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                      • #12
                        Originally posted by Tuomerehu

                        Isn't it now a bad time to sell bonds, due to a bond market bubble?
                        If the bond market is in a bubble is a bad time to BUY bonds, not to sell them!

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                        • #13
                          How big is it including states and local governments? 600 - 700 billion $?

                          Nice work.
                          “Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)

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                          • #14
                            I guess the Dem's are a shoe-in next year.
                            Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...

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                            • #15
                              How big is it including states and local governments? 600 - 700 billion $?

                              Don't know. Do you have any figures?
                              I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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