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How the Deficit Got This Big???? - 9/14/2011 1:08:20 PM   
Lucylastic


Posts: 40310
Status: offline 		Very interested in this piece
http://www.nytimes.com/2011/07/24/opinion/sunday/24sun4.html?_r=1
With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here — from healthy surpluses at the end of the Clinton era, and the promise of future surpluses, to nine straight years of deficits, including the $1.3 trillion shortfall in 2010. The answer is largely the Bush-era tax cuts, war spending in Iraq and Afghanistan, and recessions.
Despite what antigovernment conservatives say, non-
defense discretionary spending on areas like foreign aid, education and food safety was not a driving factor in creating the deficits. In fact, such spending, accounting for only 15 percent of the budget, has been basically flat as a share of the economy for decades. Cutting it simply will not fill the deficit hole.......


and this were part of the article/opinion





any thoughts????????..please if you are going to call it a piece of shit leftist rag and the figures unlikely, feel free to come up with something that backs up your argument, like another source with different figures.....

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RE: How the Deficit Got This Big???? - 9/14/2011 1:10:41 PM   
Moonhead


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quote:

ORIGINAL: Lucylastic
please if you are going to call it a piece of shit leftist rag and the figures unlikely, feel free to come up with something that backs up your argument, like another source with different figures.....

Oh, like that's going to happen...

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RE: How the Deficit Got This Big???? - 9/14/2011 1:17:54 PM   
MileHighM


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Status: offline 		No arguement that Bush Laid a turd, but that graph isn't very comforting for Obama either.

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RE: How the Deficit Got This Big???? - 9/14/2011 1:27:27 PM   
joether


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quote:

ORIGINAL: Moonhead
quote:

ORIGINAL: Lucylastic
please if you are going to call it a piece of shit leftist rag and the figures unlikely, feel free to come up with something that backs up your argument, like another source with different figures.....

Oh, like that's going to happen...


Never underestimate the conservative's ability to ignore reality for a total fantasy.

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RE: How the Deficit Got This Big???? - 9/14/2011 1:36:47 PM   
Lucylastic


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Status: offline 		LOL well I thought I would try.
To me it goes a long way to the reason its taking a lot longer to get out of the mess than it was for companies, businesses and people affected to get into hard times. It didnt happen over night and it certainly is stupid to expect it to rebound fast, and why they arent serious about getting back into power to be responsible for putting the country to rights, they know its a herculean task and they have nothing in mind but cutting taxes.Which didnt work for them in the previous years, why should it work now.Greed is deeply entrenched more than it has ever been.
The divide is even wider than ever , yet people still blaming the poor.
And Cheney was "ashamed for his country when the downgrade happened".Its a freakin shame his priorities are warfare and not giving a shit about the realities of what his warmongering did in the long term.


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RE: How the Deficit Got This Big???? - 9/14/2011 2:18:07 PM   
Iamsemisweet


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Status: offline 		Not surprising.  And yet, both parties act like the wars are not even happening, when discussing fiscal realities.  We lost, we need to get out of Iraq and Afghanistan.  Now.

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RE: How the Deficit Got This Big???? - 9/14/2011 2:56:53 PM   
Raiikun


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Status: offline 		Well one quibble with the charts...it showing a surplus in the Clintion years, when in fact, the US's debt increased those same years. (Source, the US Treasury website).

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RE: How the Deficit Got This Big???? - 9/14/2011 2:58:17 PM   
tazzygirl


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Status: offline 		Toss up the source.

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RE: How the Deficit Got This Big???? - 9/14/2011 3:03:15 PM   
Raiikun


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Status: offline 		http://www.treasurydirect.gov/NP/BPDLogin?application=np

Found through http://www.ustreas.gov/ and going through the Bureau of the Public Debt links.

You'll get these numbers:

Fiscal
Year. . . Ending . . . National Debt. . . . .Deficit
FY1993 09/30/1993 $4.411488 trillion
FY1994 09/30/1994 $4.692749 trillion $281.26 billion
FY1995 09/29/1995 $4.973982 trillion $281.23 billion
FY1996 09/30/1996 $5.224810 trillion $250.83 billion
FY1997 09/30/1997 $5.413146 trillion $188.34 billion
FY1998 09/30/1998 $5.526193 trillion $113.05 billion
FY1999 09/30/1999 $5.656270 trillion $130.08 billion
FY2000 09/29/2000 $5.674178 trillion $17.91 billion
FY2001 09/28/2001 $5.807463 trillion $133.29 billion

Now, of course, a 17 billion deficit is closer to getting back into the red that anyone's gotten since.

(Edit: Lined up chart better, hopefully)

< Message edited by Raiikun -- 9/14/2011 3:08:58 PM >

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RE: How the Deficit Got This Big???? - 9/14/2011 3:09:48 PM   
Lucylastic


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Status: offline 		soooo apart from the one figure back at the beginning...(why was there such a big jump down to 17 billion to 130 billion?? anyone?))
do youhave anything to dispute???
Thankyou for supplying sources...!!!!

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RE: How the Deficit Got This Big???? - 9/14/2011 3:11:38 PM   
tazzygirl


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Status: offline 		Q: During the Clinton administration was the federal budget balanced? Was the federal deficit erased?
A: Yes to both questions, whether you count Social Security or not.

http://factcheck.org/2008/02/the-budget-and-deficit-under-clinton/

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RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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RE: How the Deficit Got This Big???? - 9/14/2011 3:17:37 PM   
Raiikun


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Status: offline 		Did the country add to it's debt? Yes.

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RE: How the Deficit Got This Big???? - 9/14/2011 3:19:48 PM   
Raiikun


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quote:

ORIGINAL: Lucylastic

(why was there such a big jump down to 17 billion to 130 billion?? anyone?))
do youhave anything to dispute???


Because he cut the deficit by 113 billion that year leaving only a 17 billion deficit. ;) Despite some other disagreements with him, he was serious about getting the deficit down, and in another couple of years probably could have turned it into a surplus, and IMO we need Clintion's kind of fiscal responsibility now more than about anything else.





< Message edited by Raiikun -- 9/14/2011 3:21:31 PM >

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RE: How the Deficit Got This Big???? - 9/14/2011 3:25:36 PM   
tolovetolaugh


Posts: 648
Joined: 4/30/2008
Status: offline 		I miss Clinton. Me and my grams would watch his speeches together.
She always said he sucked as a man, and needed a swift kick in the balls, but other than that he was a great president.

She was also always calling Monica a dirty hoe for keeping a dress with semen stains on it for so long.
*sigh* I miss her.

I also miss having a president the country can be proud of, and a congress that worries more about the countries welfare then screwing over the other side.


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RE: How the Deficit Got This Big???? - 9/14/2011 3:28:25 PM   
tazzygirl


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Status: offline 		The claim is that the deficit was erased.. and it was in those years.

Do I need to explain the difference to you?

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RE: How the Deficit Got This Big???? - 9/14/2011 3:32:13 PM   
Raiikun


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quote:

ORIGINAL: tazzygirl

The claim is that the deficit was erased.. and it was in those years.

Do I need to explain the difference to you?


"Both Democrats and Republicans are all running this year and next and saying surplus, surplus. Look what we have done. It is false. The actual figures show that from the beginning of the fiscal year until now we had to borrow $127,800,000,000."

- Democratic Senator Ernest Hollings, October 28, 1999

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RE: How the Deficit Got This Big???? - 9/14/2011 3:33:10 PM   
MileHighM


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Status: offline 		Well the treasury said they took on debt. The CBO in the fact check reference says there's a surplus. That is probably a discrepency between the budget and actual expendatures.

HOwever, I would think the Treasury knows whether it took on debt or not.

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RE: How the Deficit Got This Big???? - 9/14/2011 3:35:38 PM   
Lucylastic


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quote:

ORIGINAL: Raiikun

quote:

ORIGINAL: Lucylastic

(why was there such a big jump down to 17 billion to 130 billion?? anyone?))
do youhave anything to dispute???


Because he cut the deficit by 113 billion that year leaving only a 17 billion deficit. ;)



Smart arse!!!!!!
WRT CLinton, I was living in the UK at the time and I thought he was the bees knees as an american and as apresident.I was pissed, PISSSSSSSSED when he decided to lie and wouldnt just admit to it. whoever told him that lying would do him any good should have been hung!

< Message edited by Lucylastic -- 9/14/2011 3:39:55 PM >

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RE: How the Deficit Got This Big???? - 9/14/2011 3:35:44 PM   
tazzygirl


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Status: offline 		A government budget deficit is the amount by which some measure of government revenues falls short of some measure of government spending.

Government debt (also known as public debt, national debt, sovereign debt)[1][2] is money (or credit) owed by a central government. In the US, "government debt" may also refer to the debt of a municipal or local government. By contrast, annual "government deficit" refers to the difference between government receipts and spending in a single year, that is, the increase of debt over a particular year.

Its simple definitions.

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Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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RE: How the Deficit Got This Big???? - 9/14/2011 3:39:31 PM   
MileHighM


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Status: offline 		Ok so they didn't budget for a deficit, but they had one, because they took on debt to balance the checkbook. That's by your definitions, I don't see how that varies from what I said.

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