Huge Drop In Deficit Stronger Than Expected

Discussion in 'Politics' started by red states rule, Jul 11, 2007.

  1. red states rule
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    red states rule Senior Member

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    More bad news for the left. Once again more proof tax cuts work. Will Dems admit it or push for their $400 billion tax INCREASE


    Budget deficit narrows to $205 billion
    7/11/2007, 9:58 a.m. EDT
    By ANDREW TAYLOR
    The Associated Press

    WASHINGTON (AP) — The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004, according to new White House estimates.

    It's also a gain over the $244 billion predicted by President Bush in February, but not as great an improvement as anticipated by other forecasters.

    Bush planned to discuss the figures in an afternoon appearance as the White House's Office of Management and Budget as part of its midyear update of the budget picture.

    http://www.mlive.com/newsflash/wash...-10/1184158749191210.xml&storylist=washington
     
  2. red states rule
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    red states rule Senior Member

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    I wonder if libs will blame Bush
     
  3. red states rule
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    red states rule Senior Member

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    WashPost Notes Deficit's Drop, But Reuters Gives More Context
    Posted by Ken Shepherd on July 11, 2007 - 14:59.
    The Washington Post today reported how the White House expects the federal budget deficit to shrink, but placed it in a five-paragraph story below the fold on page A6. Yet a Reuters story on the same development noted something that the Washington Post's Lori Montgomery left out of her story. The new White House figure of $205 billion "is still higher than many private forecasts, which have pegged the deficit at around $150 billion."

    What's more, Post reporter Montgomery included a reference to President Bush crediting his tax cuts with the revenue surge, but added "that has been challenged by many economists." Montgomery failed to name any such economist, much less his/her rationale. After all, if tax revenue is growing at unexpected rates following tax cuts, are there many economists who actually expect tax revenues to roll in at a faster pace when levied at their pre-Bush tax cut levels?

    http://newsbusters.org/node/14021
     
  4. ReillyT
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    ReillyT Senior Member

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    I think it may be a stretch to say that only a $205 billion deficit means that the tax cuts work.
     
  5. actsnoblemartin
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    actsnoblemartin I love Andrea & April

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    democratic talking points.

    1. america bad
    2. americas fault
    3. lets give the terrorits a hug
    4. bush bad
    5. bush bad
    6. bush bad
    7. anyone who disagree is a nazi and our enemy and we must shout him down, and/or physically assault him.



     
  6. red states rule
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    red states rule Senior Member

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    Libs can't undersatnd how LOWER taxes can INCREASE revenues to the government
     
  7. ReillyT
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    ReillyT Senior Member

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    That is pretty obviously a silly statement. I don't think anyone questions that certain tax cuts at certain times for certain people can increase tax revenue. I do think that there are plenty of people who question what is the right tax cut? When do you provide the tax cut? To whom do you provide the tax cut?


    At least attempt to maintain a veneer of rationality.
     
  8. actsnoblemartin
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    actsnoblemartin I love Andrea & April

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    The government does NOT have the right to raise taxes, just cause it feels like it, it needs a reason. although im not an economist so ill shut up now.

     
  9. Angel Heart
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    Angel Heart Conservative Hippie

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    Yet, how many times over have we shown them it works.

    Stock market is at all time highs, the unemployment rate is low, the deficit is lower, yet they don't see. They tend to be the blind leading the blind.
     
  10. red states rule
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    red states rule Senior Member

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    But to libs, the economy sucks since a Republican is President
     

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