Bush's deficits and the coming crunch.

[Lawrence of Arabia]

ok so lets recalculate. [(1.86*5*50)/52]/7

ok so instead of 1.86 billion its 1.27 Billion. MY point stands. Youre so anxious to defend bush that you find every single small piece of good news, such as 'weve spent $25 billion less at than at this point last year'

in the end it just looks pathetic. face it, bush has ****ed up. even rats leave sinking ships.

[Lawrence of Arabia]

I note that CBO's forecast last year at this time for FY '04 was for a deficit of $477 billion. It ended up at $412 billion, 14% less than forecast.

and now you're arguing over a couple of billion? do you consider this a victory? is $412 billion that much better than $477 billion? a measely 13.5%?

[DanS]

Hey, I never used the CBO figures to make sweeping arguments about Bush's fiscal policies like you did and therefore I don't have to defend them. The math matters in these discussions, since the numbers are so often used to mislead.

My point is that the fiscal situation has turned the corner. To hear some talk of it, quite the opposite would be true.

[Lawrence of Arabia]

Avatar Enlargement: We've got the solution

Hey, I never used the CBO figures to make sweeping arguments about Bush's fiscal policies like you did and therefore I don't have to defend them.

The math matters in these discussions, since the numbers are so often used to mislead.

since the CBO is non partisan group while nearly everyone else has some sort of ax to grind, i think its safe to say that these numbers are accurate. so what if the CBO was off by 13.5%. do you know someone else who was more accurate. or more importantly, do you think that theres a big difference between $477 bn and $412 bn?
what about between $1.86 bn a day and $1.27 bn a day? is $1.27bn a day acceptable to you but not $1.86 bn?

[DanS]

or more importantly, do you think that theres a big difference between $477 bn and $412 bn

Yes, there is a big difference between the two. The favorite rhetorical gambit is to times the number by 10 for a 10-year figure (or $650 billion).

I have no problem with CBO's figures, so far as it goes. However, they are required by law and custom to assume certain things that may or may not come to pass, and to use figures that may or may not be the most up-to-date.

is $1.27bn a day acceptable to you but not $1.86 bn?

No. As I have stated, Bush spent too much money. However, judging the entire fiscal picture by the most unfavorable part of the business cycle likely will mislead you.

[korn469]

I'd like to see a like a 1.27 bn dollar surplus per day that we use to pay off the national debt.

[Harry Tuttle]

LA, weren't you the one who thought that airports were "safe zones" were people could not be arrested? Like it was some sort of neutral outlaw zone?

[Lawrence of Arabia]

LA, weren't you the one who thought that airports were "safe zones" were people could not be arrested? Like it was some sort of neutral outlaw zone?

yep, what about it?

[Lawrence of Arabia]

Yes, there is a big difference between the two. The favorite rhetorical gambit is to times the number by 10 for a 10-year figure (or $650 billion).

$650 billion . . . do you know by how much the economy will grow by in 10 years? lets say a 3.5% average growth rate, we are at 11.3 T right now, P * (1+r)^n, n = number of years, r = percent rate, we arrive at 15.9 T. So US GDP will grow by 4.6 T over the next 10 years.

$650 billion of 4.6 T? well that works out to be just over 14%. so over 10 years, we are off by 14%. that works out to be off by 1.4% per year. thats pretty good forecasting, dont you think?

[Harry Tuttle]

Originally posted by Lawrence of Arabia
yep, what about it?

Just making that little factoid known.

[Lawrence of Arabia]

Just making that little factoid known.

aight, thats chill. what bout bushs budget? do you have anything to say about that?

[Kidlicious]

The deficit is still mostly financed by USians, interest rates are low, and I don't even want to think about where the economy would be without the tax cuts. The tax cuts were a transfer of wealth to the rich. Now Bush wants to cut benefits for the poor and the average USian. Stop all this nonsense about deficit. I don't have a problem with raising taxes, but this BS about the deficit really doesn't help.

[Harry Tuttle]

Originally posted by Lawrence of Arabia


aight, thats chill. what bout bushs budget? do you have anything to say about that?

yeah, cut the pork, keep the tax cuts.

[Ned]

Originally posted by chegitz guevara
Never understimate the role of stupidity and greed in determining world history. The GOP is partying on the Titanic. Their hubris will bring down the whole country.

The solution? Revolution!

Che, Republicans? All I have heard from since Bush proposed reducing the growth rate in spending is from Democrats.

[Lawrence of Arabia]

yeah, cut the pork, keep the tax cuts.

what pork specifically?

All I have heard from since Bush proposed reducing the growth rate in spending is from Democrats.

that shouldnt be a problem since you control both houses. if stuff doesnt happen, its not on the democrats, its on you.