Let’s have a permanent sequester of at least 10% in reduced federal agency budgets and employment and watch that deficit melt. It’s really as simple as subtracting a dime from every dollar that was budgeted by the spendthrifts in Congress.
I like how revenue has gone up due to rebounding economy and not because of tax increases. Go figure
Sequestration worked..
so Obama bailed on it..
hiked taxes..
yet will get credit..
half a trillion in the hole
will be cheered as a step Forward.
bizarre twisted world
But still a higher annual deficit than any other President in history.
Budget? What Budget? I thought they hadn’t posted a budget in the last 6 years?
Color me very skeptical.
Remember several biggies have been moved to “off the books”, Fannie & Freddie for example. That’s worth over $300 billion a year right there. Don’t forget SS funds are placed in the general fund to lower the deficit.
Rule of thumb, due to Federal accounting practices (which would put organized crime to shame), the real deficit is going to be *at least* 50% greater than the reported one. In this instance, it is probably double.
Also, if unfunded liabilities were to be included in the manner corporations are REQUIRED to do, the deficit would be more in the range of $6 trillion last year.
Who you gonna believe? The CBO or your lying eyes?
I know the difference between rain and a Commie pi**ing on my leg.
Scouts Out! Cavalry Ho!
What an upside down world the Congressional Budget (snort, budget) Office lives in.
“Rebounding economy.” What is this, some kind of sick joke?
Garbage in, garbage out. The Gelded OLD Pansies are part of this fiasco.
More “fun with numbers.”
SUPER COOL!!
This means there's no reason the raise the debt ceiling. Right?
In a word: Sequester!
That's worth celebrating < /sarc>
Half a trillion seems like such a small number anymore.
The FY 2013 “deficit” is $680 Billion ONLY if you do some interesting budget accounting.
The debt ceiling was reached in May 2013, and all borrowing thereafter was ‘under the table’ - In May 2013, the FY2013 deficit was about $670 Billion.
USE THIS WEB SITE: http://www.treasurydirect.gov/NP/debt/current
Select date of 11/08/2013 – total public debt outstanding is $17,151.627 Billion
Input the date in the field below the current day debt….and select several dates to see what changed -
OCT 15, 2013 $16,747.370 Billion
OCT 16, 2013 $16,747.360 Billion
OCT 17, 2013 $17,075.590 Billion
OCT 18, 2013 $17,074.260 Billion
Between Oct 16 & 17 – the debt jumped up $328.23 Billion in ONE DAY.
NOTE – go back to May 16, 2013 – the debt was $16,734.808 Billion …..so consider that in 5 months, with the debt precariously close to the debt ceiling of $16,394 Billion, the debt appears to increase less than $14 Billion …but then in 1 day – it jumps up $328 Billion. If that $328 Billion was spread out over the 5 months…then the fiscal year end deficit would have exceeded $1 Trillion for FY 2013, and Obama would go down as having 5 years in a row of deficits greater than $1 Trillion, and the lies about how he has markedly shrunk the deficit, year after year –would be clearly disproved.
SO - here is the thing - if FY 13 had a deficit of $680 Billion - in late October - during the start of FY 14, they added about $328 Billion...so how will they keep from adding less than $172 Billion for the rest of the year - when they are ‘printing’ about $65 Billion to $85 Billion PER MONTH during FY 14? CORRUPT ACCOUNTING!!
And one crappy GDP quarterly report from a recession. Not that Obamas Brown Shirts will allow the true GDP to be reported come July.