Deficit reduction from 2009 to 2010.

Sallow

The Big Bad Wolf.
Oct 4, 2010
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Looks like it's going down..

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Email Comments 466 WASHINGTON — The Obama administration is set to report Friday that the federal budget deficit exceeded $1 trillion for the second straight year, providing critics of government spending with fresh ammunition ahead of the midterm congressional elections.

The Congressional Budget Office is projecting that the deficit for the 2010 budget year that ended Sept. 30 will total $1.29 trillion. That's down by $125 billion from the $1.4 trillion in 2009 - the highest deficit on record.

Deficit Report: 2010 Federal Budget Deficit Over $1 Trillion

Print Back to story Budget Deficit in U.S. Narrows 13% to $90.5 Billion on Rising Tax Receipts
By Bob Willis - Sep 13, 2010 The U.S. government posted a smaller budget deficit in August compared with the same month last year, helped by rising tax receipts.

The excess of spending over revenue totaled $90.5 billion last month, smaller than the median forecast of economists surveyed by Bloomberg News and down 13 percent from $103.6 billion in August 2009, according to a Treasury Department report issued today in Washington. The gap for the fiscal year that started in October was $1.26 trillion compared with $1.37 trillion last year at the same time.

The economic recovery has helped generate more tax revenue for the Treasury, even as the Congressional Budget Office forecasts the deficit this fiscal year will reach $1.34 trillion, the second-largest on record. The Obama administration faces the challenge of trying to limit the shortfall while stimulating an economy with joblessness close to 10 percent.

“We’re seeing the revenue coming back,” said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida.
Budget Deficit in U.S. Narrows 13% to $90.5 Billion on Rising Tax Receipts - Bloomberg

All this while the Average Joe saw taxes go down.

The old adage is true: If you want to live like a Republican..Vote Democrat.
 
Prediction: First GOP'er to post will say it's still too much money spent and still too much taxation.
 
Prediction: First GOP'er to post will say it's still too much money spent and still too much taxation.

Well they could.

But taxes have gone down.

And the number of people on the federal payroll has shrunk.

Along with the fact we are extracting ourselves from Iraq..
 
The other thing people may want to look at is the stock market..and recent profit reports of major corporations.

Both have been doing well.
 
Anyone who can realize income in 2011 and pay taxes on it that year, instead of 2012 will do that..normally.

What's the point being made?
 
Democrats should run on this! How many Democrats are campaigning on this great news?

We only ran up a monthly deficit of $90 Billion and 1.3*10^12 for the year!

Keep it Going!
 
The other thing people may want to look at is the stock market..and recent profit reports of major corporations.

Both have been doing well.

Is this where someone asks what that does for "main street?"

The Fed is giving free money to banks, who are using it to buy stocks.

40% of the stimulus package came in the form of tax breaks for small business, or "Boutique" tax cuts..as Indiana Congressman Mike Spence referred to them as..
 
Anyone who can realize income in 2011 and pay taxes on it that year, instead of 2012 will do that..normally.

What's the point being made?

Income is artificially high, and hence tax revenue, because nobody wants ot pay 2011 rates.

Get back to us this time next year.

Seriously..where was the right when Bush dropped interest rates to zero?

That wasn't artificial?
 
Record foreclosures with no end in sight, record unemployment with no end in sight, record bankruptcies with no end in sight, record poverty, record numbers of people on food stamps.

Who the hell is "recovering" anyway?
 
Was allowing Lehman Brothers to collapse and it's assets bought out by a foreign company good for America?
 
Prediction: First GOP'er to post will say it's still too much money spent and still too much taxation.
It's still too much money spent and it's still too much taxation.

Social Security is nearly insolvent.
National Health care will bankrupt us.
The amount of borrowing we're doing will cripple our economy for decades to come.
10% unemployment
Economy in the shitter
Deficits as far as anyone can see (I can see the deficits from my house!)

And how is the gubamint gonna' pay for all this? "Quantitative Easing" which means "Print More Money and Cause Massive Inflation". But your only concern is what some "GOPer" will say on a message board. :cuckoo:

It's still too much spending and it's still too much taxation.
 
Looks like it's going down..

Get Politics Alerts

Email Comments 466 WASHINGTON — The Obama administration is set to report Friday that the federal budget deficit exceeded $1 trillion for the second straight year, providing critics of government spending with fresh ammunition ahead of the midterm congressional elections.

The Congressional Budget Office is projecting that the deficit for the 2010 budget year that ended Sept. 30 will total $1.29 trillion. That's down by $125 billion from the $1.4 trillion in 2009 - the highest deficit on record.

Deficit Report: 2010 Federal Budget Deficit Over $1 Trillion

Print Back to story Budget Deficit in U.S. Narrows 13% to $90.5 Billion on Rising Tax Receipts
By Bob Willis - Sep 13, 2010 The U.S. government posted a smaller budget deficit in August compared with the same month last year, helped by rising tax receipts.

The excess of spending over revenue totaled $90.5 billion last month, smaller than the median forecast of economists surveyed by Bloomberg News and down 13 percent from $103.6 billion in August 2009, according to a Treasury Department report issued today in Washington. The gap for the fiscal year that started in October was $1.26 trillion compared with $1.37 trillion last year at the same time.

The economic recovery has helped generate more tax revenue for the Treasury, even as the Congressional Budget Office forecasts the deficit this fiscal year will reach $1.34 trillion, the second-largest on record. The Obama administration faces the challenge of trying to limit the shortfall while stimulating an economy with joblessness close to 10 percent.

“We’re seeing the revenue coming back,” said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida.
Budget Deficit in U.S. Narrows 13% to $90.5 Billion on Rising Tax Receipts - Bloomberg

All this while the Average Joe saw taxes go down.

The old adage is true: If you want to live like a Republican..Vote Democrat.

Defecit Reduction from '09 to '10...Looks like it's going down?

The '10 budget deficit was smaller than the '09 budget deficit, $1.29T vs. $1.4T. But that doesn't reduce our overall deficit. We simply added another $1.29T to our deficit, on top of the $1.4T we added last year. And they're estimating another $1.34T being added to it from this fiscal year. That's $4.03T additional deficit in the span of just 3 fiscal years!!!
 
Republican response to anything: Not enough *blank*, Good but could've been better, More efficient *blank*.

They are like Goldilocks who never find the bowl of "just right" porridge
 
Republican response to anything: Not enough *blank*, Good but could've been better, More efficient *blank*.

They are like Goldilocks who never find the bowl of "just right" porridge

You're right, as usual.

How many Democrats are running on this stunning economic record you've described?
 

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