Bush Tax Cuts working, Federal Deficit shrinking

More bad news for the liberals....

"Despite the ongoing costs of US military campaigns in Iraq and Afghanistan, the outlook for the federal budget has grown substantially brighter.

Already, the federal deficit is shrinking toward about half the size that it has averaged since 1970, when analyzed as a percentage of gross domestic product."

Link

 

This good news (continued good news) will infuriate gworld. There is nothing that gets him angrier than good news for America.

Based upon his history, he will first claim that you are not an economist and that you don't understand anything about economies, then he will try to dig out some old GDP numbers to try and make good look like bad.

Then he will call you stupid, dumb and the US sucks and talk about how terrorists are really great guys and then talk about how money in Iraq is lost.

Pretty much sums it up! There ya go, gworld, saved you half a day of running text through your content generator

Oh, great news, btw! Our economy is kicking and federal receipts continue to reduce the deficit yearly. If Clinton were in charge, the media and democrats would hail it a huge success!

 

if clinton were in charge, we would still have a billion dollar surplus! Instead of a trillion dollar deficit! Yeah!

 

At this point, I am looking forward to the next election. I haven' begun my full on research yet, but I will likely change my registration from independent when I get my next driver's license.

 

With all the years of disasters under the Bush Administration this is really good news.

 

I know this is not an Economy forum but I had like to ask those who are rambling on Federal deficit - how does it affect you as an individual?

 

The economy is doign great for me...interest rates on my savings are making great earnings, while my loan payments are down...I can't be happier (until I pay off my loan, which is not that far away!!)

 

Okay, If the budget deficit is higher, Bush will probably not compromise and the government will borrow more money, which will increase federal debt, which will eventually result in a tax hike, or shutting down of certain governmment programs, or scaling them back.

What I described is greatly exaggerated, so that you could get the idea

 

The higher the federal deficit, the more interest the country has to pay on those debts. The higher the debts, the more we will eventually have to pay in taxes to cover the national debt. It's a fiscal responsibility thing. I've been able to keep myself out of debt and in the black, except for a short period of a few months where I had been out of work for several months in a row. During my first few months on the job, most of each paycheck went into paying off that debt. Once I was in the black again I finally allowed myself to buy a few books I wanted. Then when I had saved MORE than enough (so I still had some emergency money) I allowed myself to splurge on a new computer.

Staying out of debt is generally a simple part of fiscal responsibility.

 

Clinton got out just as the bubble burst. Comparing Clinton's time in office to Bush's doesn't make any sense. Still, it is nice to see Bush's economic policy bear fruit even though he does spend like a liberal.

 

agreed, he does spend like a liberal...but I remind you of something..."balancing the budget" as clinton did, is not really balancing the budget..

few reads on this topic:

http://www.cato.org/dailys/10-08-98.html
http://thephantomrepublican.blogspot.com/2006/04/did-bill-clinton-really-create-budget.html
http://www.theatlantic.com/politics/decision/budget2.htm
http://www.theatlantic.com/politics/decision/budget2.htm

 

There never was a surplus. It was a paper prediction surplus. What little he did cut, he did so by gutting our military and treating repeated terrorist attacks on our country and interests abroad with little more than contempt.

 

^ Correct. Stole that page straight from the Carter Administration.

Hard to attend to international affairs when your "domestic affairs" keep you busy.

 

It would be nice if he cut more spending, though.

Government's too big.

 

Very much agreed. Would be nice if he (or democrats, or anyone for that matter) did something about illegal immigration too.

 

putting up a large steel pole every 3 feet is not going to do it either...that may stop cars, but not people....we need a fence.

 

If you have a fence, you will piss of Mexico, and their government will start paying people to come here
I guess you don't like strawberries very much

 

you don't think they don't already pay people to come here? The US supports the mexican economy...without the US, all they would have is cancun...they want more and more illegals in the US, which means more money for them.

 

You are just too naive mate.

You will not need a fence soon.

http://www.youtube.com/watch?v=-vda1KRF75M&eurl=

I can hear them Mexicans getting ready for the USA, expect them in your towns and taking your jobs sooner than you think.

You need to wake up to what the neocons like Chertoff, Rice, Bush and Gonzalez are planning for your country mate instead of stupidly defending these lunatics.

 

The farming industry for fruit picking is heading toward mechanization, because they truely can't keep a hold on illegal immigrants. I mean...if you can get a job...would you get a construction job that pays $15-25/hour or something that pays $7/hour?

There's a shift in where jobs are going, since workplace enforcement is almost non-existant.

-----------
I think part of our reasoning could be based-off Mexico's oil. Not really sure, but I'm thinking that gives us some credence.

Then again, Mexicans oil is their functioning government. They don't grow that or the rest of their economy....they fall once again.