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The Obama administration is projecting that the deficit for the 2011 budget year, which began on Oct. 1, will climb to $1.4 trillion. Over the next decade, it will total $8.47 trillion. Deficits of that size will constrain the administration's agenda over the next two years and will certainly be an issue in the 2012 presidential race.
From your source by the adminstration's own hand.
The Treasury will report the actual figures later this month. These are estimates. Keep your fingers crossed.
By no means should anyone be popping champagne bottles over this news. But it does show that the trend is at least going in the right direction.
Nothing "market based" about government forcing people to buy something with requirements set forth by government.
Prediction: First GOP'er to post will say it's still too much money spent and still too much taxation.
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?
Was allowing Lehman Brothers to collapse and it's assets bought out by a foreign company good for America?
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
But your only concern is what some "GOPer" will say on a message board.
GOP'ers had little concerns for these issues when Bush was running up debate, mortgaging our future to China, and passing the massive unfunded black hole that was the Medicare Prescription Drug plan.
As such, I have nothing for disdain for the partisan hacks when they complain now.
Yeah, what a joke. No Democrats are singing "happy days are here again."
Of course not.
There's still a great deal of work to do to correct the massive damage caused by Republicans.
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?
That's funny because last night Hannity said that Dashle couldnt name 3 dems running on their record of healthcare. Then when Dashle provided the 3 he said:
"You cant name anyone running on healthcare besides those 3"
Nothing is never enough
Kind of empty, isn't it?
Not really. There's a tough challenge ahead and it's not helpful to constantly knock down people trying to rectify the situation.
It's like the old saying.
How do you eat an elephant?
One bite at a time.
Nothing "market based" about government forcing people to buy something with requirements set forth by government.
this statement is nonsense. what about a mandate excludes a market?
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.
Were 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.
Ame®icano;2850614 said: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.
Were 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.
All I see here is a liberal spin on the fact that government borrowed less this year then the last.
Nothing "market based" about government forcing people to buy something with requirements set forth by government.
this statement is nonsense. what about a mandate excludes a market?
The first decision in any purchase is whether or not to make the purchase. In the case of healthcare insurance, deciding to make that purchase, if it were like other purchases, would have those that are healthy but run over in the street without insurance literally dying in the street.
Then we have the problem of Road Kill Clean Up and who will pay for that. Sounds like a separate lower cost policy to me.
In many ways, insurance is a product. In many ways, healthcare is a product. In many ways, the combination of both is a civil service.
This debate is NOT about healthcare but about insurance. One of the myriad problems with this debate is that nobody knows what we're talking about.
People are debating healthcare and voting on insurance. It's nuts.