U.S. deficit estimated at $250 billion "Several rounds of tax cuts, including Bush's signature $1.35 trillion 2001 tax cut, also contributed to the return to deficits in 2002 after four years of budget surpluses. The national debt has risen to $9.2 trillion. "This guy will come close to doubling the debt of the country during his period of presidency," Conrad said. " Is there any more morons left that support BUSH?
250 million dollars?!! but i thought we had the strongest economy in the world!? alright guys i think it's time to bury our heads in the sand again, see yall later
This is a budgetary deficit, it does not include discretionary spending, or transfer of balance liabilities. Anyone care to confirm?
It's actually $160,460,000,000 Down 35% from last year.. Thanks to the tax cuts... Try sticking with facts.. making things up does nothing but pull support away from the RP crowd. Source, US Dept of the Treasury. I love how you mention 2001 and 2002. The Tax cuts we put in place in 2003 and have been kept in place each year there after... BTW, total revenues increased 7% this year, and have increased every year since the tax cuts were enacted in 2003. Nice try warping reality.. Is this what Ron Paul really stands for?
I am not sure if I know how to put it, GDP/GNP measures the output of an economy. Take for eg if you own a house at $1000 000, you rent it to others at $100 000 per year but you spend $150 000. You have a deficit of $50 000, which is 50% more than your income. Every year you do the same things, what will be left of your house?
It doesn't include alot of what we actually spend, every time I bring it up though I get accused of 'conspiracy' theories Some people just like living in fantasy land.
Here you go again Mia with your fuzzy math. You want facts? I give you facts. 1. Start here (so you learn a thing or two about what this mambo jumbo means): http://en.wikipedia.org/wiki/United_States_public_debt 2. Then go here (for a breakdown of the spending) http://www.federalbudget.com/ and here http://www.treasurydirect.gov/NP/BPDLogin?application=np Do your math again and come back here with your results. P.S. Mia, wisdomtool simplified it above for your benefit so you may start grasping it bit by bit. Do you know how to balance a budget? You know basic stuff? How much you earn vs how much you spend, debt to income ratio and all of that?
Thanks GRIM. It's funny but if you post a short and sweet truth, few people will acknowledge it, in fact continuing to argue the contrary. @Mia, you have repeatedly avoided opportunities to reply to me re: deficit spending (inc. discretionary) stimulus increasing tax revenues. Forget monetary inflation, for which we could also make a strong issue of. When we discretionary spend for military for example, we increase the wage base, either through (sic) defense purchases, staff hirings, soldier wages and special pay. I am a firm believer that lower taxes stimulates an economy, and increase tax revenues marginally. But nominally, you can't easily explain a 7% gain + recouping the lost tax revenue from the lower rate just by economic stimulus alone. There aren't a lot of people out there seeing a 10%+ wage increase annually. It would be interesting to see a detailed breakdown on where the actual increase in tax returns is coming. Is it strictly income tax, or does it include other taxes (corporate tax, tax on SS, etc.)
Well, just as the person above said, that you don't have to care about the debt of US in foreign countries that's true for now. The issue is that it might come to an end some day
The later you service it, the more it becomes it is cumulative and every second does count if you look at the staggering fitures.