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Bush's deficits and the coming crunch.

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  • #31
    Here is a good snapshot on our true short-term fiscal circumstances at the federal level. Receipts are growing healthily, driven by high growth in corporate income taxes (they now have income to tax). The government just needs to stop spending so much. This can be done easily enough even considering the continuing war costs.

    So far this fiscal year, we are $25 billion ahead of last fiscal year.

    Briefing.com
    http://www.briefing.com/schwab2/ecdata/budget.htm
    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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    • #32
      Originally posted by Odin



      Exactly, Taxes must be raised, but if you tell ignorant Joe American the truth about the need to raise taxes you'll be like Mondale in '84.

      People want thier government programs but don't want to pay for them because TEH REAGAN SAID TAXES ARE TEH EVIL AND THE REAGAN IS NEVER WRONG!!!
      Taxes don't need to be raised to 25% however.Reagan had taxes at ~18% and spending at ~20% which was quite manageable. Under Clinton taxes were raised, but the republicans held the line on spending so it was 20% vs 18.5%. however today we are at ~16 and ~24. merely holding the line on spending isn't going to cut it.

      Comment

      • #33
        however today we are at ~16 and ~24
        More like ~16 and ~20.
        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

        Comment

        • #34
          When the revolution comes, angry Americans will be able to hunt down and beat the DanS's of this world.

          "DanS" that buddy!!!
          Only feebs vote.

          Comment

          • #35
            When the revolution comes
            Not going anywhere for a while?
            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

            Comment

            • #36
              When the revolution comes, the people DanS you.
              Only feebs vote.

              Comment

              • #37
                So far this fiscal year, we are $25 billion ahead of last fiscal year.
                $25 billion? thats pocket change. THE DEBT GROWS AT $1.86 BILLION A DAY.

                thats like saying that a thief stole all your property, but its ok, cuz he left $20 for you at the doorway.
                "Everything for the State, nothing against the State, nothing outside the State" - Benito Mussolini

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                • #38
                  Originally posted by DanS


                  More like ~16 and ~20.
                  2.57 T / 11T = 23.4%

                  ah I stand corrected, The money supply has inflated so that our economy grew a trillion dollars in the past 4 years. So it is really around ~21.5% then. bea puts us at 11T in 2000 dollars, just under 12T in today's cash.

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                  • #39
                    Yeh, but it won't be 11T. More like 12.5T, depending on the time period. It's was running at a 12T rate in Q4 2004.
                    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

                    Comment

                    • #40
                      THE DEBT GROWS AT $1.86 BILLION A DAY.
                      No it doesn't. Where are you getting this crap math from? That would be $680 billion a year.
                      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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                      • #41
                        I probably can't edit that post anymore(without the warning showing up), so I'm forced to concede ground .

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                        • #42
                          Originally posted by DanS


                          No it doesn't. Where are you getting this crap math from? That would be $680 billion a year.
                          probably from the fact that they have to pay back what they raid from SS.

                          Comment

                          • #43
                            I probably can't edit that post anymore(without the warning showing up), so I'm forced to concede ground
                            Oh well. Worse things have happened.
                            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

                            Comment

                            • #44

                              No it doesn't. Where are you getting this crap math from? That would be $680 billion a year.


                              403 Forbidden
                              http://www.brillig.com/debt_clock/
                              "Everything for the State, nothing against the State, nothing outside the State" - Benito Mussolini

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                              • #45
                                Misleading statistic to make things appear worse than they are. It increases $1.86 billion every business day. Apparently for him, even the debt takes the weekends and holidays off.
                                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

                                Comment

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