U.S. Budget Deficit Tumbles, Congressional Analysts Say

AP ^ | Jul 7, 2005 | Andrew Taylor

[rock58seg]

By holding so many of our bonds, China has great economic leverage over us.

Just as we have great leverage over the many nations that owe us money. Africa and South America come to mind quite easily.

In my younger days, I spent some time as bill collector. The slow payers would say, "Hey! You better be nice, I owe you money."

[Arthur Wildfire! March]

"This cannot be repeated enough because most people don't grasp it the first twenty times."

economists say the more significant measure is against the size of the economy.

economists say the more significant measure is against the size of the economy.

[repeat, repeat....]

[Arthur Wildfire! March]

"I also have to keep repeating to everyone that you have to put things in relation to the size of the economy. Same with increases in government size honestly."

Maybe so, but it never hurts to clamp down on domestic spending.

[Willie Green]

economists say the more significant measure is against the size of the economy.
[repeat, repeat....]

No matter how often you repeat a lie, Arthur, it's not going to make it true.

Comparing the budget deficit to GDP is mixing apples and oranges.
The budget deficit is a accounting measurement of government's fiscal irresponsibility, NOT a measure of our nation's overall economic health. It is grossly misleading to compare these figures since it completely ignores the amount of debt already accrued by the government, not to mention all the state, local and private sector debt that must also be serviced by our economy.

So you can "repeat, repeat, repeat...." all you want, Arthur"
All that does is make you a shill for the irresponsible Big Government spendthrifts who squander taxpayer dollars.

"I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."

-- President Andrew Jackson - (1824)

[Willie Green]

Maybe so, but it never hurts to clamp down on domestic spending.

But you're not opposed to spending it offshore, are you?
Anything goes to prop up the Third World by sacrificing the American Middle Class?

[expat_panama]

Strange.  I would have felt that the economic focus was "the money could have been better used somewhere else",  ---and the statement "we need the government to keep going so we don't have anarchy" was the moral claim.

[aquila48]

The average European doesn't get that you have to put these numbers in context... they just hear a gigantic number and think 'ooh it sucks to be them'.

Unfortunately it is not limited to just the average european. Our MSM has an easy time manipulating our home grown ignorami into thinking we have a huge problem.

[bayourod]

Life is good.

[Moonman62]

The claim that the government needs to go into debt or overspend in order to prevent anarchy isn't logical. It sounds like something a big government Democrat would say.

[listenhillary]

Love your tagline and your theory about government and taxes.

[jpsb]

How is spending doing? Taxes are up but is spending down? I mean we have a GOV government so spending is down big time right?

[jpsb]

"f Clinton were in there we would here: the budget deficit will be eliminated"

And it was, there was a budget surplus at the end of the Clinton years.

[listenhillary]

What did they do with the surplus?

[expat_panama]

Life is good.

It really is, and I'm cautiously optimistic in the belief that more and more people are coming around to this fact.  Sure self pity, depression, and  covetousness are seductive emotions, but they're also extremely self destructive.  I'm afraid we live in a world where "survival of the happy" is law.

 

[expat_panama]

..claim that the government needs to go into debt or overspend in order to prevent anarchy isn't logical...

You must be aware that anarchy exists when governments don't and that anarchy is bad.  You've also got to know that for thousands of years governments in crisis have borrowed money as necessary for survival.  I don't know what you're missing.  

[Preachin']

Bookmark...

[listenhillary]

Did they stick it in their pocket when the left?

[RightWhale]

What did they do with the surplus?

They stored it in the basement of the World Trade Center.

[Arthur Wildfire! March]

"But you're not opposed to spending it offshore, are you?
Anything goes to prop up the Third World by sacrificing the American Middle Class?"

[Steam rolling out of ears, nostrils, and mouth.] Charity comes from the heart, NOT from the IRS! HOW DARE THEY give away other peoples' money! If I want to give them money, if you want to give them money, FINE! Do it. Knock yourself out! Leave other peoples' money alone.

[infocats]

The deficit for the current budget year, which runs through Sept. 30, should be "significantly less than $350 billion, perhaps below $325 billion," according to the Congressional Budget Office. The agency produces nonpartisan estimates for Congress and will put out a full update Aug. 15.

Don't fall for this numbers "shell game". As usual, our Congress and their agents are wildly spinning the truth to make themselves look better and not appear to be the irresponsible fiscal profligates that they are. Go to G.A.O. and read the whole (albeit unpleasant) truth.