Why is no one cheering the falling deficit?

[The T]

horray for the falling deficit!!!

DEBT has almost tripled under obama; so hes working on reducing his own record pace of debt accumulation?


wow; big effin deal

And a reminder of Unfunded Mandates...$200+ Trillion.

 

[Meister]

Foreign faith in & purchases of US dollar treasuries have been on fire under the Obama administration.

Bush sent gold price from $275 to $1920 per ounce. Today it's $1295 & falling.

Nice try, but the federal reserve has a lot to do with the gold prices...that's what happens when you keep diluting the dollar year after year after year.true story
Also, we are in big trouble when those interests rates come back to a normal rate.
Yeah, Obama is wonderful......

Yeah a "diluted" dollar leads to a fall in gold prices..

What FOX program did you learn that little economic gem on?

Interest rates and infusion created what happened since 2009. Lower interest rates created a demand for gold.
Kissmy blamed it all on Bush, which was just a partisan bias on his behalf.
Having said that, when interest rates rise (and they will), our debt will skyrocket.

 

[RKMBrown]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

Let me get this straight. The dumbocrats win both houses of congress on promises to end the ME wars, yeah they lied. Check. The dumbocrats roll up some 10trillion in debt the four years they ran both houses of congress. Check. The dumbocrats loose the house to a republican crew that promised to stop the dumbocrat spending. Check. The DUMBOCRATS SCREAM FOR 4YEARS THAT THE republicans are stopping them from spending at every turn. Check.

Now the dumbocrats want to take credit for spending less. ROFL you just can't make this shit up.

 

[CrusaderFrank]

The sequester is working

Sent from smartphone using my wits and Taptalk

 

[Sallow]

Nice try, but the federal reserve has a lot to do with the gold prices...that's what happens when you keep diluting the dollar year after year after year.true story
Also, we are in big trouble when those interests rates come back to a normal rate.
Yeah, Obama is wonderful......

Yeah a "diluted" dollar leads to a fall in gold prices..

What FOX program did you learn that little economic gem on?

Interest rates and infusion created what happened since 2009. Lower interest rates created a demand for gold.
Kissmy blamed it all on Bush, which was just a partisan bias on his behalf.
Having said that, when interest rates rise (and they will), our debt will skyrocket.

Wait what?

Just who the **** lowered the interest rates to zero?

Give ya a hint.

George W. Bus...

 

[The Rabbi]

Yeah a "diluted" dollar leads to a fall in gold prices..

What FOX program did you learn that little economic gem on?

Interest rates and infusion created what happened since 2009. Lower interest rates created a demand for gold.
Kissmy blamed it all on Bush, which was just a partisan bias on his behalf.
Having said that, when interest rates rise (and they will), our debt will skyrocket.

Wait what?

Just who the **** lowered the interest rates to zero?

Give ya a hint.

George W. Bus...

Bush didnt control interest rates. No president does.
/fail.

 

[Meister]

Yeah a "diluted" dollar leads to a fall in gold prices..

What FOX program did you learn that little economic gem on?

Interest rates and infusion created what happened since 2009. Lower interest rates created a demand for gold.
Kissmy blamed it all on Bush, which was just a partisan bias on his behalf.
Having said that, when interest rates rise (and they will), our debt will skyrocket.

Wait what?

Just who the **** lowered the interest rates to zero?

Give ya a hint.

George W. Bus...

I'll give you a hint, Sallow....the federal reserve contols monetary policy.
The president's board is only part of the equation, 12 banks are involved.

From what you're saying....Obama can and could have raised the rates at any time....that's not the case, the rates are extremely low, If Bush owned his end of this, Obama owns the last 5 years, Sallow.

 

[Sallow]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

Let me get this straight. The dumbocrats win both houses of congress on promises to end the ME wars, yeah they lied. Check. The dumbocrats roll up some 10trillion in debt the four years they ran both houses of congress. Check. The dumbocrats loose the house to a republican crew that promised to stop the dumbocrat spending. Check. The DUMBOCRATS SCREAM FOR 4YEARS THAT THE republicans are stopping them from spending at every turn. Check.

Now the dumbocrats want to take credit for spending less. ROFL you just can't make this shit up.

Well..yeah they did spend less.

And without having to cut the shit out of everything.

The Sequester caused a heck of a lot of misery. So much so, that Republicans ran away from it and basically ignored it..until it started hitting the Military industrial complex.

Then..like magic..we had a deal.

 

[Sallow]

Interest rates and infusion created what happened since 2009. Lower interest rates created a demand for gold.
Kissmy blamed it all on Bush, which was just a partisan bias on his behalf.
Having said that, when interest rates rise (and they will), our debt will skyrocket.

Wait what?

Just who the **** lowered the interest rates to zero?

Give ya a hint.

George W. Bus...

I'll give you a hint, Sallow....the federal reserve contols monetary policy.
The president's board is only part of the equation, 12 banks are involved.

From what you're saying....Obama can and could have raised the rates at any time....that's not the case, the rates are extremely low, If Bush owned his end of this, Obama owns the last 5 years, Sallow.

Seriously.

Do you know what you are talking about?

Raise interest rates during the worst economic calamity in the history of the United States?

Holy crap.

 

[Meister]

Wait what?

Just who the **** lowered the interest rates to zero?

Give ya a hint.

George W. Bus...

I'll give you a hint, Sallow....the federal reserve contols monetary policy.
The president's board is only part of the equation, 12 banks are involved.

From what you're saying....Obama can and could have raised the rates at any time....that's not the case, the rates are extremely low, If Bush owned his end of this, Obama owns the last 5 years, Sallow.

Seriously.

Do you know what you are talking about?

Raise interest rates during the worst economic calamity in the history of the United States?

Holy crap.

"Worst economic calamity in history"? Really?
I know what I'm talking about, not so sure about you.

You think that the president sets interest rates.....

 

[RandallFlagg]

Foreign faith in & purchases of US dollar treasuries have been on fire under the Obama administration.

Bush sent gold price from $275 to $1920 per ounce. Today it's $1295 & falling.

Nice try, but the federal reserve has a lot to do with the gold prices...that's what happens when you keep diluting the dollar year after year after year.true story
Also, we are in big trouble when those interests rates come back to a normal rate.
Yeah, Obama is wonderful......

All I have to say is ALL of us had better start stocking up and prepare when the bottom falls out. It will make the 'Great Depression' look like a walk in the park and NO WPA programs a-la FDR will save us. WE will be ripe for the picking from our enemies.

Indeed. It's coming. And it's coming sooner, rather than later and it is NOT going to be pleasant.

 

[Gadawg73]

Let us look at the facts instead of partisan hack ideologue spin:
Per CBO on deficits:
2014 514 billion deficit at a minimum

2015 500 billion

2016 500 billion

And CBO projects massive growth in the deficit from 2017-2014 because of what?
NO SPENDING CUTS
"CBO projects that under current laws, outlays will grow faster than THE ECONOMY DURING THE NEXT DECADE. Net interest payments on the Federal debt will grow rapidly from 1.3 % of GNP to 3.3 % of GNP by 2024."

Only a dumb ass believes the deficit is going down LONG TERM.
We have a growing moocher class.

All projections are bullshit. Economic activity, earnings, profits, laws, taxes, trade, regulations, etc are always in flux. Massive surpluses were projected until the Bush administration & rubber-stamp congress destroyed that, the US dollar, created massive debt, job loss, & economic implosion. Effective management of the presiding people in charge brings down deficits. The current administration has done an excellent job of cutting the deficit, restoring global faith in the US dollar & managing the government.

"effective management of the presiding people in charge brings down deficits"

No, spending less brings down deficits or growing the erconomy.
Neither of which is going on now.
The current administration has done nothing to cut the deficit. The Congress has done the deficit cutting and it would be a hell of a lot less if the Senate got out of the way.
The Congress is Republican.
But you are right about these CBO projections as many of them over the last 20 years have been wrong. Deficits have been much higher than predicted.
Not ONE has been lower than they predicted.
Obviously you have no clue about the ticking time bomb Medicare which will double in costs the next 8 years.
Now I know all of this is over your head but if interest rates go up 1% that almost doubles the net interest we pay on the debt. And the interest payments are part of the deficit each year.
But hey, that is what I am here for. Econ 101.
This administration can not even get a web site to work correctly and you claim they do a good job "presiding over people"
Thanks man, I needed a good laugh!!

 

[Gadawg73]

Economic growth is what stimulates the economy and ends deficits.
This administration stifles growth as the only growth they have is food stamp recipients and the moocher class.
Lowest labor participation rate in 70 years.
An administration that encourages people to file for social security disability is not a free market capitalism supporting gang.
They are anti productivity and anti economic achievement and independence.
This administration and their supporters gauge success on how many people become dependent on government.

 

[Gadawg73]

Good one. Kissmy. I thought you were being serious until I saw just how ludicrous your post was, then I knew you were joking.

Just have to look at the interest of the borrowing and see that we're in trouble the deficit and debt.

Foreign faith in & purchases of US dollar treasuries have been on fire under the Obama administration.

Bush sent gold price from $275 to $1920 per ounce. Today it's $1295 & falling.

Nice try, but the federal reserve has a lot to do with the gold prices...that's what happens when you keep diluting the dollar year after year after year.true story
Also, we are in big trouble when those interests rates come back to a normal rate.
Yeah, Obama is wonderful......

Yes, there is ONLY ONE WAY for interest rates to go as the FED has artificially set them for how many years now?
5 or 6?
And when they do come back, and they will, the interest on the debt will double or more overnight.
But this type of thing is far over their head.

 

[bedowin62]

Why?

gee i dont know genius; maybe it's because despite the record profits on Wall Street not that many average Americans feel things are going as well as the White House talking points or george soros say they are?

 

[Listening]

Of course it's a threat, asshole.

Not in any way shape or form....dickweed.

English isn't your first language..I see.

You can't see your way to the bathroom.

Moron.

If it was a threat...report it.

 

[thereisnospoon]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

First, this is an opinion piece with a little bit of factual material sprinkled in to make it look like a news article.
However, if what this writer states it's true , I guess we can blame those God damned republican obstructionists.
You libs are so desperate. So all over the place.
Before this stuff came out you people were in 100% support of deficit spending. That so your pet programs could continue to be fed.
Ya know what? Shut up....Your side is wearing out it's welcome.

 

[thereisnospoon]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

BTW, one out of SEVENTEEN?!!!!! You're having a foam at the mouth moment over that?
Guess what? In any other occupation, if one goes 1 for 17, their ass is FIRED.
"Your son/daughter has failed 94% of the time. How proud you must be"

 

[thereisnospoon]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

Just wait until the interest rates rise from the federal reserve, Sal.

Interest rates have been kept artificially low for the purpose of political expediency.
I believe this economy has not been permitted to go through its complete cycle and bottomed out yet. The Fed has done its level best to save the sitting president from being known as presiding over the worst economy since not only Carter but quite possibly the Great Depression.
Yes, home prices are rising again, but only because once again the administration has cut fannie/freddie loose and has encouraged banks to re ramp the sub prime mortgage sector.
Demand for homes has increased and of course this is driving prices in certain markets.
The other factor is that housing starts are still lagging.
Once the federal reserve is forced to take interest rates to where the marketplace believes they should be, our economy will take another turn south. However, our economy if permitted to cycle, rarely stays down for long.
We will all have to endure some economic pain. The new president will get lambasted in the press, especially if the Republican party holds the WH....Come years two and three of the next administration, should that president do the right thing and let the economy fix itself, that president should become the third consecutive incumbent president to win reelection.
And I will state right here that no matter the party of the next president, if they correctly administer the economy into real recovery and put forth a common sense approach to our domestic energy policy, that person will have my support.
I don't give a damn if the next president is a member of the Mr Bigglesworth Party.
Quite frankly I have had it with elected leaders who are almost tunnel vision focused on social issues and being socially conscious. That is NOT the president's job.
Presidential Protocol does not include weighing in and commenting on every little event no matter how trivial, just because it appeared on the news.
So who gives a rats ass if a guy that owns a NBA team who is old enough to fart dust and needs a conveyor belt to feed himself a constant supply of Viagra, has to say? Perhaps it is news to the avg basketball fan. But the POTUS have to comment? Really?
Imagine this. The President is sitting in a meeting discussing economic events and strategy. Jay Carney walks in and excuses himself and asks to speak to the POTUS....The room is cleared. Carney says "Mr. President, there is a story about an owner of an NBA team making a racially insensitive comment. I think you should make a statement.
POTUS....Ahh yeah, Jay. Write up something for me. I will be in the briefing room in 15 ( 25 mins, this president is late to everything)"
Carney: Yes sir
POTUS exits conference room. Sees economy people waiting in ante room.
POTUS:" Oh, sorry guys we'll have to reschedule. I gotta make a statement about this guy that owns the Clippers"..

 

[thereisnospoon]

We are paying billions evey month just to cover the interest payments on the debt.
What will happen if / when the interest rate goes up..

Those billions will turn into hundreds of billions