BULLETIN >> U.S. FEDERAL DEFICIT SHRINKS TO $53 BLN IN JULY

Dow Jones Big Charts.MarketWatch.com ^ | 8/10/05 | Rex Nutting, MarketWatch

[SierraWasp]

BULLETIN >> U.S. FEDERAL DEFICIT SHRINKS TO $53 BLN IN JULY

[Ernest_at_the_Beach]

I want on your good news ping list....not those other ping lists though!

[Ernest_at_the_Beach]

Groouch!!!

[Huck]

Bush is being conservative. He doesn't like to get too far out in front.

When it comes to budgets, he has no teeth at all. He's totally ineffective.

[Huck]

Titanic First Mate: Sir, there's a large iceberg up ahead. I recommend a course correction.

Titanic Captain: Grouch!

[tanknetter]

If you have better numbers, feel free. At least I'm posting numbers. I think it looks close to our current situation.

I'm not sure I need to. From the looks of that chart it projected a deficit of (roughly) $415 billion for FY2005. From the article, it now looks like the annual deficit will be $350 billion. That's a $65 billion difference between reality and what that chart is showing.

[SierraWasp]

Naw... I've got nothing! Not even a valid argument in the face of such monumental wisdom as you possess and I can't possible articulate it as well as you have done because I'm shallow and must capitulate to the true wisdom you profer. To do otherwise would be as you said and be completely reliant on my feelings which are also shallow and fed by my lying eyes that keep observing things in a historical perspective, based on human nature.

I'm so danged dumb and emotional that Harry Dent is my Guru and has made an incurable optimist out of me, as did Ronald Reagan and anyother "leaders" that even begin to approach their optimism!!! So I am forced to admit... I'm hopelessly enslaved to optimism and love my optimistic country and despise what the negativistas keep trying to do to it!!! (especially enviro-socialistas)

[Huck]

What it shows is that the chart accurately reflects what the CBO estimated. We now know it is (so far this year) off a bit. But the chart was meant to show the overall direction, because a poster said that, not the real numbers, is what matters. We are not going in the right direction.

[Huck]

I've got nothing

Something we can agree on.

[SierraWasp]

See!!! You can only agree with someone waiving a negative white flag of surrender/failure!!!

That's sad...

[rdb3]

When it comes to budgets, he has no teeth at all. He's totally ineffective.

I guess that explains your constant, constant negativity. You may want to say you're being "objective." Okay. But that doesn't explain away your negativity. Will you be honest and admit that you just don't like this administration at all?

[tanknetter]

That was the only halfway readable chart I could find googling. If you have a better one, feel free. Point is, clearly, the deficit has been going in the wrong direction for about as long as GW has been in office.

Your chart, showing a ~$415 deficit for FY2005 is clearly inaccurate by $65 billion. The deficit for FY2004 was $412 billion (according to this article (which also shows just how off the projections have been). That equates to a decrease of $62 billion from 2004 to 2005.

I'm not sure that you're claiming a decreasing Federal deficit is "going in the wrong direction" ... are you?

[Huck]

I guess that explains your constant, constant negativity. You may want to say you're being "objective." Okay. But that doesn't explain away your negativity. Will you be honest and admit that you just don't like this administration at all?

I don't find very much to like, that's for sure. But again, I don't see that as negativity. After all, I voted for him in 04 after having not voted for him in 00. Given my ambivelance towards him, I don't see that as negative. The negative thing to do would have been to stay home.

If someone hands me a crap sandwich, and I take a bite, am I being negative for saying I don't much like eating it? I don't think so. So really we just disagree on our assessment of the current political scene. It isn't just this administration. If someone asked you to rate your satisfaction with your federal government, 1 meaning you hate it, 5 meaning you love it, what rating would you give it? I give it very low marks. Sorry that rubs you wrong. I don't have an emotional need to believe that there is one good party, one bad party.

[CyberAnt]

Hmmmm?? Probably because all those corporations closed their books for the fiscal year ending in July .. and paying their taxes.

[Huck]

So far it looks like a decrease this year. The chart is intended to address the trend. The chart shows an expected lowering of the deficit (not sure why) followed by more increase. I guess we'll just have to wait and see.

[SierraWasp]

Here's your next thread, I'll bet!

[So Cal Rocket]

Receipts are up 13.7% in the year to date at $1.75 trillion. Individual income taxes are up 15.1% to $756.1 billion, while corporate income taxes are up 41.7% to $205.9 billion.

"How ya gonna pay for that tax cut for the rich Mr. President", sayeth JFKerry and all other RATS.

I'm proud to say that Art Laffer was my Economics Professor when I was in Business School.

[mhx]

It has to pass through 53 on its way down to 0, somehow.

[Huck]

I saw it. I didn't really buy what they are trying to say. I am not convinced that business service jobs are all that bad as the author suggests, seeing as how I have one that pays me real good. See? There's that same analytical "negativity", as you call it, causing me to question the information in front of me and draw my own conclusion. In the case of the jobs story, it's not the conclusion you expect because you don't get where I'm coming from. But that's fine. To each his own.

[Huck]

That is true. So fine, it's good news. Just seems a bit obscene to celebrate 53 billion down the sewer in ONE MONTH. but that's the state we're in.

[SierraWasp]

This'll be my next thread!