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I wrote deficit. Oerdin wrote deficit. I think we're on the same page.
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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 -
oops, i meant debt."Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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check out these interesting graphs from cato
i especially like the one what shows bush's cumulative non defense spending increases in his first term increase by 25%, the second greatest increase in the history of the US govt.
and check out the last graph, growth of outlays under republicans. that ones my favorite (1995 - 2005) so much for you guys being responsible with out money eh?"Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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Originally posted by Lawrence of Arabia
CBO predicts that the unemployment rate remains constant at 5.2 % through 2006. it seems that they believe that 5.2% is the natural rate of unemployment.
Remember, these numbers are misleading.
Unemployment figures only count those people who are out looking for work. They do not count those who have given up or the U.S.'s exploding prison population. Functionally, unemployment is usually around 12%. That's quite an anchor for the economy to pull.
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Dan: Ok, It wold be more favorable to me to talk about total debt but I said deficit so I won't go back on it. We are are talking about apples here now all we need to agree on is the type of apple. In inflation adjusted dollars the fiscal year deficit for year 2005 must be larger in absolute dollars then the fiscal year 2004 deficit. Would you be willing to accept that bet?Try http://wordforge.net/index.php for discussion and debate.Comment
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OK. That sounds about right for a proper bet. By current estimates, it is a shade in your favor. The number to beat is about $420 billion. Bookmark this post.
To be clear, this is the federal fiscal year ending September 30, 2005, not the calendar year ending December 31, 2005. Also, the measure of inflation that we use will be the Gross Domestic Product Implicit Price Deflator, which is slightly in your favor. The measure of the deficit will be the line items released by the Treasury (the one with which we're all familiar), not the "net lending" number released by the Bureau of Economic Analysis.
I wouldn't be surprised to see the deficit at less than $400 billion, but we shall see.Last edited by DanS; February 15, 2005, 13:16.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, 1891Comment
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Why wouldn't it be net lending? We we talk about the total deficit we're talking about the total amount of money borrowed, right?
Terms: The winner get to decide the avatar for the loser and the loser must continue to use that avatar for 30 days. Of course no pornographic avatars would be allowed and the avatar must comply with all of poly's rules. Other then that it is fair game. Agreed?
BTW The total deficit for the fiscal year will also take in all borrowing which is down in supplimental bills, sound fair?Try http://wordforge.net/index.php for discussion and debate.Comment
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Not precisely, but for our purposes here there isn't much difference -- just as long as we are consistent in the number we use for each year.Why wouldn't it be net lending? We we talk about the total deficit we're talking about the total amount of money borrowed, right?
Sure.Other then that it is fair game. Agreed?
Sure. Whatever shows up in the Treasury number of actual dollars spent and dollars received.BTW The total deficit for the fiscal year will also take in all borrowing which is down in supplimental bills, sound fair?
The deficit numbers are released every month on the 8th business day. The fiscal year 2004 federal deficit was $412.28 billion. Assuming 2% inflation, the deficit number to beat is $420.53 billion.
Last edited by DanS; February 15, 2005, 13:57.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, 1891Comment
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Where is all this spending going to come from again?I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Originally posted by DanS
Farm subsidies, weapons programs, the space shuttle, the space station. I've got plenty of ideas with billions of dollars beside each one.
Though I think it's like dieting. You can reduce how much you eat and you can burn of some calories, but for any serious weight loss, you have to do both. Cut the programs above and the Bush tax cuts, and you have a sensible system. It doesn't even need to balance, but it shouldn't be over $400 billion a year away from it.Smile
For though he was master of the world, he was not quite sure what to do next
But he would think of something
"Hm. I suppose I should get my waffle a santa hat." - KuciwalkerComment
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nah, he should push through more tax cuts, especially for those who make the median and under ($33,000=median)"Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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I think Oerdin is making a bad bet, but I have no avatar to bet.
1) Social Security won't start costing anymore this year, because it won't take into effect until next year or something. And this is if it passes.
2) The war shouldn't cost more this year than last.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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I think he should push through the tax cuts you are talking about, but I still think the top 1% tax cuts need to be rolled back.Originally posted by Lawrence of Arabia
nah, he should push through more tax cuts, especially for those who make the median and under ($33,000=median)To us, it is the BEAST.Comment
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The tax cuts are important to keep because the marginal tax rates impact the willingness of people to work to a great degree.Cut the programs above and the Bush tax cuts, and you have a sensible system.
I agree with this. The acceptable proxy would be to allow everyone to put a portion of their payroll taxes into private retirement accounts. Research indicates that this forced savings for retirement would not be viewed as a tax and would therefore increase the willingness of people to work.nah, he should push through more tax cuts, especially for those who make the median and under ($33,000=median)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, 1891Comment
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Now why would you think the CBO is incorrect in its forecasts?I think Oerdin is making a bad bet
Surely, you're nothing more than a Bush apologist.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, 1891Comment
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