Gov Walker to Give $800 Million Surplus Back to the People

[SwimExpert]

I goggled it and the left wing sites talk about a deficit and the right wing sites point to a surplus. The only mainstream report is an AP report on a local page suggesting a surplus. Since there are no NYT, CBS, ABC, NBC links it must be a surplus.

Deficits and debt are not the same.

That I am totally aware of that as opposed to many democrats. What does that have to do with a reported surplus?

A reported surplus is the opposite of a deficit. It does not, however, mean that there is no debt. I said Wisconsin has debt.

 

[RoshawnMarkwees]

I goggled it and the left wing sites talk about a deficit and the right wing sites point to a surplus. The only mainstream report is an AP report on a local page suggesting a surplus. Since there are no NYT, CBS, ABC, NBC links it must be a surplus.

Deficits and debt are not the same.

That I am totally aware of that as opposed to many democrats. What does that have to do with a reported surplus?

A reported surplus is the opposite of a deficit. It does not, however, mean that there is no debt. I said Wisconsin has debt.

But the point I was making was regarding the reporting. A surplus with lingering debt is way different from a deficit and debt. No MSM report on the former and only the latter with no mention of surplus. Interesting that MSM sites can report on deficit reduction like its a good thing but quickly differentiate between debt and deficit when it is convenient to the agenda.

 

[ClosedCaption]

It should be interesting what cuts Walker will have to make to accomplish his $800 million giveaway, considering a 1.8 billion projected shortfall.
Wisconsin state budget shortfall projected at nearly $1.8 billion
Madison — The expected shortfall for the next two-year state budget starting in July has risen to nearly $1.8 billion, or about half of what it was when Gov. Scott Walker took office in January 2011.
Meanwhile, the state's projected gap in its current budget ending June has risen to $396 million — or about 1.2% of the spending planned for the 2013-'15 budget.
The Republican governor resolved a more than $3 billion budget shortfall in the months after taking office, but the latest projections show the state is running through the resulting surplus. The state is again facing a gap in the 2015-'17 budget because of tax cuts enacted by Walker and lawmakers and lagging growth in other state taxes in recent months.
The projected weakness in the state budget matters because it eventually could lead to cuts in spending on priorities such as schools or increases in state taxes or fees.
The latest estimates by the Legislature's nonpartisan budget office jumped by more than $1.1 billion over the previous estimate of a $642 million gap released in May. The projections from the Legislative Fiscal Bureau were released Monday for the budget beginning in July 2015 and ending in June 2017.
Wisconsin state budget shortfall projected at nearly 1.8 billion

In other news, I didn't know that Joe the Plummer had a website? Thanks to the OP, I learned something today. If you're looking for something fair and balanced,,,,,,,,,
Joe For America

The usual lib talking point: if we cut anything children will go without education and criminals will proceed with impunity.
How did that work out for Detroit?

How can that be a typical lib talking point?

Do you typically come up short on your budget projections? Or now miscalculations are ok? 57 states?

 

[Political Junky]

Good for him. Hopefully it works out for Wisconsin and what happened to Virginia in the 90's doesn't happen there. Where another republican governor slashed taxes and spiraled us into massive debt and Mark Warner had to come in and turn things around.

It's part of Warner's run for president, purely political.

 

[NYcarbineer]

Wisconsin has billions in long term debt and is paying millions in interest on that debt. That's where the surplus belongs,

paying down the debt. Walker is making exactly the same error GW Bush made in 2001. Not surprisingly.

Fuck you. You dont give a shit about deficits, debt or anything else. Walker is a Republican. Therefore whatever he wants you oppose. Becuase he's on the other team from you. No other reason.

No need to go epileptic, just because you don't have an intelligent response.

'Giving back' surpluses guarantees perpetual debt, because surpluses are the only means to pay down the debt.

It's not that complicated.

 

[g5000]

Sez the guy who cant read a chart to save his life.
There is no deficiit, moron. You'd have to be able to read an article to find the truth. That is clearly as beyond you as reading a graph.
Despite news of 1.8 billion shortfall Alberta Darling says Wisconsin has 443 million surplus PolitiFact Wisconsin

From your own link:

It shows the entire $443 million surplus being swallowed up and the state facing a "revenue shortfall" of nearly $116 million -- since revised to $396 million -- by the end of the fiscal year -- June 30, 2015. That's because tax collections have been lower than expected.

So the "surplus" is bogus. It is like having $1500 in your checking account two days before your $2500 mortgage is due, and saying you have a surplus.

Scott is doubling down on the retard by proposing to give away all the the money in the checking account the day before the mortgage is due.

 

[The Rabbi]

Wisconsin has billions in long term debt and is paying millions in interest on that debt. That's where the surplus belongs,

paying down the debt. Walker is making exactly the same error GW Bush made in 2001. Not surprisingly.

Fuck you. You dont give a shit about deficits, debt or anything else. Walker is a Republican. Therefore whatever he wants you oppose. Becuase he's on the other team from you. No other reason.

No need to go epileptic, just because you don't have an intelligent response.

'Giving back' surpluses guarantees perpetual debt, because surpluses are the only means to pay down the debt.

It's not that complicated.

Obviously too complcated for you though.
There is no need to repay debt as the debt is rolled over term to term. As long as debt isnt increasing at an unsustainable rate it doesnt matter.

 

[The Rabbi]

Sez the guy who cant read a chart to save his life.
There is no deficiit, moron. You'd have to be able to read an article to find the truth. That is clearly as beyond you as reading a graph.
Despite news of 1.8 billion shortfall Alberta Darling says Wisconsin has 443 million surplus PolitiFact Wisconsin

From your own link:

It shows the entire $443 million surplus being swallowed up and the state facing a "revenue shortfall" of nearly $116 million -- since revised to $396 million -- by the end of the fiscal year -- June 30, 2015. That's because tax collections have been lower than expected.

So the "surplus" is bogus. It is like having $1500 in your checking account two days before your $2500 mortgage is due, and saying you have a surplus.

Scott is doubling down on the retard by proposing to give away all the the money in the checking account the day before the mortgage is due.

Its nothing like that. I'd explain it to you but you're a dolt.

 

[g5000]

Sez the guy who cant read a chart to save his life.
There is no deficiit, moron. You'd have to be able to read an article to find the truth. That is clearly as beyond you as reading a graph.
Despite news of 1.8 billion shortfall Alberta Darling says Wisconsin has 443 million surplus PolitiFact Wisconsin

From your own link:

It shows the entire $443 million surplus being swallowed up and the state facing a "revenue shortfall" of nearly $116 million -- since revised to $396 million -- by the end of the fiscal year -- June 30, 2015. That's because tax collections have been lower than expected.

So the "surplus" is bogus. It is like having $1500 in your checking account two days before your $2500 mortgage is due, and saying you have a surplus.

Scott is doubling down on the retard by proposing to give away all the the money in the checking account the day before the mortgage is due.

Its nothing like that. I'd explain it to you but you're a dolt.

Oh, please explain it. This should be fun! Your own link backs me up and contradicts you.

 

[NoTeaPartyPleez]

Sez the guy who cant read a chart to save his life.
There is no deficiit, moron. You'd have to be able to read an article to find the truth. That is clearly as beyond you as reading a graph.
Despite news of 1.8 billion shortfall Alberta Darling says Wisconsin has 443 million surplus PolitiFact Wisconsin

From your own link:

It shows the entire $443 million surplus being swallowed up and the state facing a "revenue shortfall" of nearly $116 million -- since revised to $396 million -- by the end of the fiscal year -- June 30, 2015. That's because tax collections have been lower than expected.

So the "surplus" is bogus. It is like having $1500 in your checking account two days before your $2500 mortgage is due, and saying you have a surplus.

Scott is doubling down on the retard by proposing to give away all the the money in the checking account the day before the mortgage is due.

Its nothing like that. I'd explain it to you but you're a dolt.

Oh, please explain it. This should be fun! Your own link backs me up and contradicts you.

Ain't enough popcorn in the world for this one....

 

[NYcarbineer]

Wisconsin has billions in long term debt and is paying millions in interest on that debt. That's where the surplus belongs,

paying down the debt. Walker is making exactly the same error GW Bush made in 2001. Not surprisingly.

Fuck you. You dont give a shit about deficits, debt or anything else. Walker is a Republican. Therefore whatever he wants you oppose. Becuase he's on the other team from you. No other reason.

No need to go epileptic, just because you don't have an intelligent response.

'Giving back' surpluses guarantees perpetual debt, because surpluses are the only means to pay down the debt.

It's not that complicated.

Obviously too complcated for you though.
There is no need to repay debt as the debt is rolled over term to term. As long as debt isnt increasing at an unsustainable rate it doesnt matter.

So it doesn't matter that the US government pays 400 billion a year in interest on the national debt?

Tell how big that number would have to be before you'd say it did matter.

 

[The Rabbi]

Sez the guy who cant read a chart to save his life.
There is no deficiit, moron. You'd have to be able to read an article to find the truth. That is clearly as beyond you as reading a graph.
Despite news of 1.8 billion shortfall Alberta Darling says Wisconsin has 443 million surplus PolitiFact Wisconsin

From your own link:

It shows the entire $443 million surplus being swallowed up and the state facing a "revenue shortfall" of nearly $116 million -- since revised to $396 million -- by the end of the fiscal year -- June 30, 2015. That's because tax collections have been lower than expected.

So the "surplus" is bogus. It is like having $1500 in your checking account two days before your $2500 mortgage is due, and saying you have a surplus.

Scott is doubling down on the retard by proposing to give away all the the money in the checking account the day before the mortgage is due.

Its nothing like that. I'd explain it to you but you're a dolt.

Oh, please explain it. This should be fun! Your own link backs me up and contradicts you.

You shuld try reading so you dont waste people's time.

What drew the headlines was the fiscal bureau’s projection that the state’s "out-year commitment" -- often referred to as a shortfall or a "structural" deficit -- is $1.8 billion for the next budget period, 2015-’17.

That's an estimate of how much the next biennial budget --if there are no changes in revenue or spending -- would be out of balance. In other words, the shortfall isn't actual red ink.

 

[The Rabbi]

Wisconsin has billions in long term debt and is paying millions in interest on that debt. That's where the surplus belongs,

paying down the debt. Walker is making exactly the same error GW Bush made in 2001. Not surprisingly.

Fuck you. You dont give a shit about deficits, debt or anything else. Walker is a Republican. Therefore whatever he wants you oppose. Becuase he's on the other team from you. No other reason.

No need to go epileptic, just because you don't have an intelligent response.

'Giving back' surpluses guarantees perpetual debt, because surpluses are the only means to pay down the debt.

It's not that complicated.

Obviously too complcated for you though.
There is no need to repay debt as the debt is rolled over term to term. As long as debt isnt increasing at an unsustainable rate it doesnt matter.

So it doesn't matter that the US government pays 400 billion a year in interest on the national debt?

Tell how big that number would have to be before you'd say it did matter.

Not necesarily, no.
It would have to be big enough that the US could not service its debt anymore.

 

[g5000]

Rabbi, you said this:

There is no deficiit, moron.

Then you linked to this:

Despite news of 1.8 billion shortfall Alberta Darling says Wisconsin has 443 million surplus PolitiFact Wisconsin

Which says this:

It shows the entire $443 million surplus being swallowed up and the state facing a "revenue shortfall" of nearly $116 million -- since revised to $396 million -- by the end of the fiscal year -- June 30, 2015.

So the budget most certainly does have a deficit.

 

[2aguy]

While across their border to the south...

Illinois taxpayers paying billions to manage state debt

Please....don't remind me.....

 

[g5000]

So what kind of maniac would empty out his bank account the day before a mortgage payment was due?

That is effectively what Scott is doing. Between now and June, he is going to come up $396 million short. If he gives away the $443 million that is currently in his account, he will come up $839 million short.

 

[g5000]

Wisconsin has billions in long term debt and is paying millions in interest on that debt. That's where the surplus belongs,

paying down the debt. Walker is making exactly the same error GW Bush made in 2001. Not surprisingly.

Fuck you. You dont give a shit about deficits, debt or anything else. Walker is a Republican. Therefore whatever he wants you oppose. Becuase he's on the other team from you. No other reason.

No need to go epileptic, just because you don't have an intelligent response.

'Giving back' surpluses guarantees perpetual debt, because surpluses are the only means to pay down the debt.

It's not that complicated.

Obviously too complcated for you though.
There is no need to repay debt as the debt is rolled over term to term. As long as debt isnt increasing at an unsustainable rate it doesnt matter.

So it doesn't matter that the US government pays 400 billion a year in interest on the national debt?

Tell how big that number would have to be before you'd say it did matter.

Not necesarily, no.
It would have to be big enough that the US could not service its debt anymore.

When bondholders start demanding a percentage point or two increase in the interest rate, you suddenly have a meltdown.

 

[g5000]

Wisconsin is not allowed to go in the red in the state budget. So unless revenue unexpectedly increases between now and June, they will have to pass a repair bill.

So again, just how stupid do you have to be to give away $443 million when you will need every cent of that between now and June and will probably still come up short?

 

[The Rabbi]

Wisconsin is not allowed to go in the red in the state budget. So unless revenue unexpectedly increases between now and June, they will have to pass a repair bill.

So again, just how stupid do you have to be to give away $443 million when you will need every cent of that between now and June and will probably still come up short?

Now you're just making shit up.

 

[The Rabbi]

Fuck you. You dont give a shit about deficits, debt or anything else. Walker is a Republican. Therefore whatever he wants you oppose. Becuase he's on the other team from you. No other reason.

No need to go epileptic, just because you don't have an intelligent response.

'Giving back' surpluses guarantees perpetual debt, because surpluses are the only means to pay down the debt.

It's not that complicated.

Obviously too complcated for you though.
There is no need to repay debt as the debt is rolled over term to term. As long as debt isnt increasing at an unsustainable rate it doesnt matter.

So it doesn't matter that the US government pays 400 billion a year in interest on the national debt?

Tell how big that number would have to be before you'd say it did matter.

Not necesarily, no.
It would have to be big enough that the US could not service its debt anymore.

When bondholders start demanding a percentage point or two increase in the interest rate, you suddenly have a meltdown.

Nope.