What Happens If a Deficit Falls and Almost No One Reports It?

[glockmail]

Yep - if you're in certain portions of the market - it's all roses, but don't try to tell that to some folks over at Chrysler when their pink slips come.

Wake me up when the surplus reaches the level it was in December of 2000.

Hello? Aren't they owned by a German company? Hello?

Besides, that's just one company in one sector of the economy. Overall the economy is doing quite well.

 

[red states rule]

We don't need the line item veto. All a Prez has to do is announce to Congress, that if they pass a bill with any unrelated crap in it it will get vetoed. After that happens a few times Congress will stop bundling bills.

Oh, we need a line item veto. It would be so much easier to kill the pork from both sides

 

[glockmail]

Oh, we need a line item veto. It would be so much easier to kill the pork from both sides

I agree that it would be nice to have, but it has always been constitutionally questionable and the alternative solution is easy, so why bother?

 

[red states rule]

I agree that it would be nice to have, but it has always been constitutionally questionable and the alternative solution is easy, so why bother?

You forget about the recent additions to the SC. I think it will pass this time

 

[glockmail]

You forget about the recent additions to the SC. I think it will pass this time

Maybe it will, but maybe the law of unitended consequences will rear its ugly head too.

 

[red states rule]

Maybe it will, but maybe the law of unitended consequences will rear its ugly head too.

Like what? I see only pork being taken out of bills

 

[glockmail]

Like what? I see only pork being taken out of bills

What about a Democrat Prez vetoing only GOP pork? Or picking out specific miliatry provisions the she don't understand?

I'd rather see effort done on the Fair Tax of the Flat Tax, as this would remove a lot of incentive to corruption and the power of special interests.

 

[red states rule]

What about a Democrat Prez vetoing only GOP pork? Or picking out specific miliatry provisions the she don't understand?

I'd rather see effort done on the Fair Tax of the Flat Tax, as this would remove a lot of incentive to corruption and the power of special interests.

The political winds would keep any partisan vetos in check.

I like the Fair Tax as well and perhaps it will gain strength and become law

 

[Darwins Friend]

Hello? Aren't they owned by a German company? Hello?

Besides, that's just one company in one sector of the economy. Overall the economy is doing quite well.

Yep - but dem be American folks that are going to get canned - just like Ford.

Again, Wake me up when the surplus reaches the level it was in December of 2000.

 

[Annie]

Yep - but dem be American folks that are going to get canned - just like Ford.

Again, Wake me up when the surplus reaches the level it was in December of 2000.

And where was that, according to the GAO?

 

[glockmail]

Yep - but dem be American folks that are going to get canned - just like Ford.

Again, Wake me up when the surplus reaches the level it was in December of 2000.

Chrysler and Ford workers will just have to get jobs doing something else. It's the union's fault, as they've been bleeding those companies dry for decades. Now's time to pay the piper.

 

[Darwins Friend]

And where was that, according to the GAO?

www.gao.gov/cgi-bin/getrpt?GAO-02-30

 

[Annie]

www.gao.gov/cgi-bin/getrpt?GAO-02-30

Maybe I'm missing something here, but why a report on the census variances?

 

[Darwins Friend]

Maybe I'm missing something here, but why a report on the census variances?

My Bad:

In 1998, the Federal budget reported its first surplus ($69 billion) since 1969. In 1999, the surplus nearly doubled to $125 billion, and then again in 2000 to $236 billion.

As a result of these surpluses, Federal debt held by the public has been reduced from $3.8 trillion at the end of 1997 to $3.4 trillion at the end of 2000 and to an estimated $3.2 trillion in 2001.

With continued prudent fiscal policies, the budget can remain in surplus for many years. Under the President's budget proposals, $2.0 trillion in Federal debt held by the public will be retired over the next 10 years—all of the debt that can responsibly be retired.

http://www.whitehouse.gov/omb/budget/fy2002/guide04.html

 

[Delbert]

The story is in the headline
"Federal deficit shrinks due to record tax collections"

The economy is booming due to massive increases in liquidity.
As long as we keep increasing M3 at a 11% pace, all is well, (except
for the value of the dollar) But who cares about that.

When the economy takes a turn for the worse, and it will, tax revenues will
decrease, and the deficits will once again balloon.

The so called balanced budgets of the Clinton era were the same thing.
Tax revenues were increased due to ballooning stock markets.
The bubble burst, and revenue went down. Deficits re-emerged.

Not to mention the theft of the ss trust

"Let me know how your 401K has done in the last five years. The economic numbers are equal to, or better then, Clinton"

In dollar terms, my 401k has done well in the last 5 years.
In gold, silver, oil, corn , wheat, etc terms, it has done quite poorly.
The power of the dollar is eroding at an alarming rate.

 

[red states rule]

The story is in the headline
"Federal deficit shrinks due to record tax collections"

The economy is booming due to massive increases in liquidity.
As long as we keep increasing M3 at a 11% pace, all is well, (except
for the value of the dollar) But who cares about that.

When the economy takes a turn for the worse, and it will, tax revenues will
decrease, and the deficits will once again balloon.

The so called balanced budgets of the Clinton era were the same thing.
Tax revenues were increased due to ballooning stock markets.
The bubble burst, and revenue went down. Deficits re-emerged.

Not to mention the theft of the ss trust

"Let me know how your 401K has done in the last five years. The economic numbers are equal to, or better then, Clinton"

In dollar terms, my 401k has done well in the last 5 years.
In gold, silver, oil, corn , wheat, etc terms, it has done quite poorly.
The power of the dollar is eroding at an alarming rate.

Libs will always look for a dark cloud in a silver lining - if a Republican is President

 

[glockmail]

The story is in the headline
"Federal deficit shrinks due to record tax collections" .....

Libs will always look for a dark cloud in a silver lining - if a Republican is President

And just how did the feds collect all those taxes? By lowering rates and letting private enterprise boom. Works every time, but Libs can't fathom that.

 

[red states rule]

And just how did the feds collect all those taxes? By lowering rates and letting private enterprise boom. Works every time, but Libs can't fathom that.

The Dow hit ANOTHER record yesterday, inflation, unemployment, and interest rates are low, and yet libs continue to rant how bad the economy is

 

[glockmail]

The Dow hit ANOTHER record yesterday, inflation, unemployment, and interest rates are low, and yet libs continue to rant how bad the economy is

It appears that their goals are different.

 

[red states rule]

It appears that their goals are different.

Libs believe all money is their money - and libs can spend your money more thoughtfully and efficently then you can