Getbig Bodybuilding, Figure and Fitness Forums
November 28, 2014, 09:04:48 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
 
   Home   Help Login Register  
Pages: [1] 2   Go Down
  Print  
Author Topic: Deficit projected to shrink considerably  (Read 819 times)
Hawk
Time Out
Getbig II
*
Gender: Male
Posts: 180


Django vonShaft, Ready For Revolution!


WWW
« on: February 05, 2013, 01:23:00 PM »

Deficit projected to shrink considerably
By Steve Benen -  Tue Feb 5, 2013



We won't know for sure what this year's federal budget deficit is going to be until the end of the fiscal year, but if the projections are accurate, a whole lot of talking points are going to need revisions.

The federal budget deficit in 2013 is projected to be $845 billion, the first time the non-partisan Congressional Budget Office has forecast a deficit below $1 trillion under President Obama.

The reduction in the budget deficit comes after Congress approved higher tax rates on households with annual income above $450,000.

The CBO also projects the deficit will shrink again next year to $430 billion.

Why is this politically significant? For one thing, congressional Republicans said raising taxes on the wealthy would not improve the nation's finances, and it appears we now have even more evidence to the contrary. They also seem to enjoy complaining about "trillion-dollar deficits every year," and will have to drop the line from their repertoire.

What's more, it appears the deficit will have been cut nearly in half -- both in real terms and as a percentage of GDP -- since President Obama inherited a massive budget shortfall from the Bush/Cheney administration.

Of course, there's also the matter of the fiscal debate -- as GOP lawmakers continue to insist Washington take the deficit seriously, and adopt austerity measures intended to close the budget shortfall in a hurry, we're reminded today that the deficit is already shrinking.


--------------------------------------------------------------------------------

For the record, I still think it's a mistake to assume that shrinking deficits are good news. There's a competing school of thought -- which I'm sympathetic to -- that suggests the deficit is currently too small, and that given economic conditions, interest rates, and the current yield of Treasuries, we should be borrowing far more and investing that money in job creation.

But at least as far as the establishment conversation goes, we should at least have a fiscal debate based on facts -- and the facts are that the deficit is shrinking in a hurry.
Report to moderator   Logged
Mattyh7688
Getbig IV
****
Posts: 1226



« Reply #1 on: February 05, 2013, 01:24:54 PM »

Don't worry mom I only put $8,000 on the credit card, NOT $10,000.. LETS CELEBRATE!!!!!!!
Report to moderator   Logged
Coach is Back!
Competitors
Getbig V
*****
Gender: Male
Posts: 25122


He won by a "landslide" lol


WWW
« Reply #2 on: February 05, 2013, 01:37:29 PM »

Source...a Maddow graph. Hahahaha.
Report to moderator   Logged
Soul Crusher
Competitors
Getbig V
*****
Posts: 10127


Doesnt lie about lifting.


« Reply #3 on: February 05, 2013, 01:38:37 PM »

GDP growth at 3.4 %   Huh?   LMFAO!!!
Report to moderator   Logged
Roger Bacon
Getbig V
*****
Posts: 21015


Roger Bacon tries to be witty and fails


« Reply #4 on: February 05, 2013, 01:41:53 PM »

Notice the smiley face icon next to the subject?  Only Benny B does that.  Grin
Report to moderator   Logged

Wiggs
Getbig V
*****
Gender: Male
Posts: 31777


Child of Y'srael


« Reply #5 on: February 05, 2013, 01:43:22 PM »

Notice the smiley face icon next to the subject?  Only Benny B does that.  Grin

lol outed. He can't get enough of this place.
Report to moderator   Logged

7
Necrosis
Getbig V
*****
Posts: 8596


« Reply #6 on: February 05, 2013, 01:46:20 PM »

is this data correct?
Report to moderator   Logged
Soul Crusher
Competitors
Getbig V
*****
Posts: 10127


Doesnt lie about lifting.


« Reply #7 on: February 05, 2013, 01:47:47 PM »

is this data correct?

No - its a guess based on bullshit assumptions - just like everything else the CBO does 
Report to moderator   Logged
calfzilla
Getbig V
*****
Posts: 12340


RIP little Halo


« Reply #8 on: February 05, 2013, 01:48:34 PM »

Amazing what can happen when you end these bullshit wars.
Report to moderator   Logged
Roger Bacon
Getbig V
*****
Posts: 21015


Roger Bacon tries to be witty and fails


« Reply #9 on: February 05, 2013, 01:50:42 PM »

Amazing what can happen when you end these bullshit wars.

I wouldn't have as much of a problem with the wars if we were open about what the mission really was.  Undecided
Report to moderator   Logged

calfzilla
Getbig V
*****
Posts: 12340


RIP little Halo


« Reply #10 on: February 05, 2013, 01:54:00 PM »

I still have no idea what the mission was.
Report to moderator   Logged
nicorulez
Getbig IV
****
Posts: 1233

Getbig!


« Reply #11 on: February 05, 2013, 01:56:41 PM »

Really, and the US economy actually shrunk last quarter. Interesting how the liberal, do nothings always espouse the benefits of higher taxes on those who actually innovate and keep America strong. LMAO, what a complete load of BS. Stop getting your info from the Huffington Post and Daily Kos. 8.5 million Americans not even in the workforce is more concerning. Guess we need another stimulus to keep us going Barack Hussein  Roll Eyes
Report to moderator   Logged
nicorulez
Getbig IV
****
Posts: 1233

Getbig!


« Reply #12 on: February 05, 2013, 01:58:57 PM »

Deficit projected to shrink considerably
By Steve Benen -  Tue Feb 5, 2013



We won't know for sure what this year's federal budget deficit is going to be until the end of the fiscal year, but if the projections are accurate, a whole lot of talking points are going to need revisions.

The federal budget deficit in 2013 is projected to be $845 billion, the first time the non-partisan Congressional Budget Office has forecast a deficit below $1 trillion under President Obama.

The reduction in the budget deficit comes after Congress approved higher tax rates on households with annual income above $450,000.

The CBO also projects the deficit will shrink again next year to $430 billion.

Why is this politically significant? For one thing, congressional Republicans said raising taxes on the wealthy would not improve the nation's finances, and it appears we now have even more evidence to the contrary. They also seem to enjoy complaining about "trillion-dollar deficits every year," and will have to drop the line from their repertoire.

What's more, it appears the deficit will have been cut nearly in half -- both in real terms and as a percentage of GDP -- since President Obama inherited a massive budget shortfall from the Bush/Cheney administration.

Of course, there's also the matter of the fiscal debate -- as GOP lawmakers continue to insist Washington take the deficit seriously, and adopt austerity measures intended to close the budget shortfall in a hurry, we're reminded today that the deficit is already shrinking.


--------------------------------------------------------------------------------

For the record, I still think it's a mistake to assume that shrinking deficits are good news. There's a competing school of thought -- which I'm sympathetic to -- that suggests the deficit is currently too small, and that given economic conditions, interest rates, and the current yield of Treasuries, we should be borrowing far more and investing that money in job creation.

But at least as far as the establishment conversation goes, we should at least have a fiscal debate based on facts -- and the facts are that the deficit is shrinking in a hurry.


BTW, where the fuck did you get the moniker "Hawk"; whipping boy or Dove is far more appropriate. GTFO of this site and go to TMZ and the Huffington Post where you belong you pencil neck.
Report to moderator   Logged
Coach is Back!
Competitors
Getbig V
*****
Gender: Male
Posts: 25122


He won by a "landslide" lol


WWW
« Reply #13 on: February 05, 2013, 02:00:04 PM »

is this data correct?

LOL...Maddow. You tell me. haha
Report to moderator   Logged
OneMoreRep
Getbig V
*****
Gender: Male
Posts: 9391



« Reply #14 on: February 05, 2013, 02:01:29 PM »

BTW, where the fuck did you get the moniker "Hawk"; whipping boy or Dove is far more appropriate. GTFO of this site and go to TMZ and the Huffington Post where you belong you pencil neck.

"Hawk" is Benny B's alternate gimmick.

"1"
Report to moderator   Logged
snx
Getbig IV
****
Posts: 2140


« Reply #15 on: February 05, 2013, 02:01:55 PM »

Really, and the US economy actually shrunk last quarter. Interesting how the liberal, do nothings always espouse the benefits of higher taxes on those who actually innovate and keep America strong. LMAO, what a complete load of BS. Stop getting your info from the Huffington Post and Daily Kos. 8.5 million Americans not even in the workforce is more concerning. Guess we need another stimulus to keep us going Barack Hussein  Roll Eyes

Trickle down economics. Meh...
Report to moderator   Logged
_bruce_
Getbig V
*****
Posts: 16670


Anus Rising


« Reply #16 on: February 05, 2013, 02:06:19 PM »

Notice the smiley face icon next to the subject?  Only Benny B does that.  Grin

x2 - what a sad person.
Report to moderator   Logged

[
dario73
Getbig V
*****
Posts: 6335


Getbig!


« Reply #17 on: February 05, 2013, 02:08:39 PM »

Trickle down economics. Meh...

Wealth distribution. Meh...
Report to moderator   Logged
nicorulez
Getbig IV
****
Posts: 1233

Getbig!


« Reply #18 on: February 05, 2013, 02:14:21 PM »

Trickle down economics. Meh...
[/quote

SNX, I don't believe in trickle down economics. What I do believe in is working your ass off to achieve the most you can possibly attain with what God gave you. The problem with America is the laziness and entitled mentality we spew. Look at MSNBC. Any person who is successful stole it from the poor  Roll Eyes Roll Eyes. The President knows that in order to maintain power and his base, he preaches class warfare. Not everyone can be a millionaire, but the system as it is now is broken and with the mentality of liberals it will only get worse. Sorry you feel like I or any other working stiff owe you something  Roll Eyes
Report to moderator   Logged
Roger Bacon
Getbig V
*****
Posts: 21015


Roger Bacon tries to be witty and fails


« Reply #19 on: February 05, 2013, 02:17:35 PM »

I still have no idea what the mission was.

I'm pretty sure it had something to do with resources and strategic positioning.  We did it on behalf of the entire first world, yet we take all the blame.
Report to moderator   Logged

HockeyFightFan
Getbig IV
****
Posts: 3656



« Reply #20 on: February 05, 2013, 02:20:49 PM »

Not a chance in hell that projection is even remotely accurate.

Let's see the projection for 2014 when Leechcare Obamacare goes into effect.
Report to moderator   Logged
snx
Getbig IV
****
Posts: 2140


« Reply #21 on: February 05, 2013, 02:51:55 PM »

Trickle down economics. Meh...
[/quote

SNX, I don't believe in trickle down economics. What I do believe in is working your ass off to achieve the most you can possibly attain with what God gave you. The problem with America is the laziness and entitled mentality we spew. Look at MSNBC. Any person who is successful stole it from the poor  Roll Eyes Roll Eyes. The President knows that in order to maintain power and his base, he preaches class warfare. Not everyone can be a millionaire, but the system as it is now is broken and with the mentality of liberals it will only get worse. Sorry you feel like I or any other working stiff owe you something  Roll Eyes

I agree that taxing the rich to support a poorly run government with asinine agendas is stupid.

I agree that wealth distribution as meted out by a government is stupid.

The government is not in a position to gauge free market economic forces. It's impossible to do so. As a result, their re-distribution of wealth will come a day late and a buck short to help Americans.

Rather, the government, were it to run intelligently, would invest as much of the money as possible into education. To free the American populace from having to work low-paying jobs. In this case, I would support a taxation of the rich, if money were invested properly in educating the next generation of Americans. But we won't do that. We'll continue to attract off-shore foreign direct investment with a depressed dollar in the hopes of landing poorly paying manufacturing jobs and low-hanging-fruit labor positions. Spare me.

What do I believe in? Comparative advantage.

Trickle down economic theory is bogus. We all know that. Freeing up money for the wealthy by not taxing them will not create more opportunity for Americans. The rich will simply get richer, and work to outsource whatever capital investments to countries with a comparative advantage for that specific utility. Rich Americans know that continuing to in-source in America is losing proposition, for low paying labor. America should focus on what it can be competitive at. Innovation and education and managing developing economies and the outsourced work being fed into those countries.

But no, the government will tax the wealthy and waste the money.

I don't buy into the fact that taxing the rich will hurt the economy. I also don't buy into the fact that taxing the rich and letting the US gov't redistribute the wealth will be good either.

It's all bullshit. And poorly done at that.

The strategy is sound. The tactical execution of that strategy is where it all breaks down. The money will be used to bloat up an already bloated government.

That's why I'm keeping my guns, as a segue.
Report to moderator   Logged
Coach is Back!
Competitors
Getbig V
*****
Gender: Male
Posts: 25122


He won by a "landslide" lol


WWW
« Reply #22 on: February 05, 2013, 02:55:41 PM »

Maddow and anyone who actually believes this shit are in for a seriously rude awakening. These idiots don't look to the future AT ALL. Will it be a temporary fix, maybe, but in the long run we're fucked.  
Report to moderator   Logged
Straw Man
Getbig V
*****
Posts: 25593


one dwells in nirvana


« Reply #23 on: February 05, 2013, 03:27:08 PM »

No - its a guess based on bullshit assumptions - just like everything else the CBO does 

didn't you just post a article on the politics board based on "bullshit assumptions" by the CBO

Report to moderator   Logged
Fury
Getbig V
*****
Posts: 21030


All aboard the USS Leverage


« Reply #24 on: February 05, 2013, 03:48:41 PM »

Notice the smiley face icon next to the subject?  Only Benny B does that.  Grin

Yet another give away. Read the way he insults people and you'll see it's pretty much word-for-word how Benny does it.


He's probably got close to half a dozen gimmicks on here.
Report to moderator   Logged
Pages: [1] 2   Go Up
  Print  
 
Jump to:  

Theme created by Egad Community. Powered by MySQL Powered by PHP Powered by SMF 1.1.20 | SMF © 2013, Simple Machines Valid XHTML 1.0! Valid CSS!