US Deficit is Shrinking, For Now (Balanced Budget by Next Year?)

Christian Science Monitor ^ | Februrary 21, 2007 | Mark Trumbull

[princess leah]

Yes, and when Hillary said that Bush wasn't doing anything for our economy, she should have been given a pie in the face and told what a bald faced liar she is!

[do the dhue]

bookmark

[HOYA97]

Here's the obligatory, "IT'S ALL BUSH'S FAULT"

[EagleUSA]

...she should have been given a pie in the face and told what a bald faced liar she is!
----
It runs in the Clinton family. LIARS ALL. It is their profession and life blood, the parasites that they are.

[snowsislander]

Excellent news.

Cutting tax rates increases tax revenues --- I just hope (though I rate it very unlikely) that the Democrats will finally realize this and not let the tax rate cuts expire.

[pissant]

This DESPITE a world war against the islamo scum. Now if the GOP had any spine and helped Bush reform SS, instead of tucking tail like the pussies they were, we'd be alot farther ahead.

[Ben Mugged]

Whatever happened to the dire predictions that China was buying up our debt and would use it to cause economic havoc?

[Brilliant]

They could have balanced the budget last year if they'd wanted to. I don't think they will want to any more next year than they did last year.

[OldFriend]

The true facts with regard to the economy will never be allowed to get in the way of dem lies.

[jdsteel]

You got that right!

[Parmenio]

The Chinese are still buying up our debt. The real problem has never been the budget deficit but the merchandise trade deficit.

This is potentially a very serious long term problem.

[God luvs America]

yes....and plan on sticking it in the rats face...

[JLGALT]

"The real problem has never been the budget deficit but the merchandise trade deficit.
This is potentially a very serious long term problem."

The only time we had a long term trade surplus was in the 1930's! Things weren't so good then!

[Recovering_Democrat]

THANKS TO A REPUBLICAN CONGRESS & PRESIDENT!

[Ben Mugged]

The Chinese are still buying up our debt.

The trade deficit is not subject to Chinese ownership. You cannot "buy-up" trade because there is nothing to own. Trade deficit is excess of imports over exports or of exports over imports. Budget deficit is when the Government must borrow money to pay it's operating expenses and this creates a budget deficit. The Chinese Government was buying up this debt paper to place the US in a vulnerable position.

[11th Commandment]

People on Free Republic complain about RINOs, yet there is a lot a celebration about a "balanced budget". I submit that a true conservative is more concerned about the size of government and less about a balanced budget. The Federal Government will spend $3.0 trillion dollars in FY2008, yet only a small fraction of those dollars are actually spent on constitutionally mandated responsibilities of the government. I see no victory in this news.

[ElectricStrawberry]

HA HA!!! Balanced budget......good one......

[EvilOverlord]

THANKS TO A REPUBLICAN CONGRESS & PRESIDENT!

Not anymore.

The Democrats are in power now, so they'll get all the credit :(

[Parmenio]

You are correct to point out that the owner of the debt is irrelevant. But that is not my point. We are buying more than we are selling and creating money to pay for it. This is potentially inflationary.