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CBO: Deficit thru 3 quarters $251B vs. $327B year ago
MarketWatch.com (by Dow Jones) ^ | 7-7-05 | Staff???

Posted on 07/07/2005 2:54:27 PM PDT by SierraWasp

5:34 CBO: Deficit thru 3 quarters $251B vs. $327B year ago

5:32 CBO: Federal deficit could fall to $325B this year


TOPICS: Business/Economy; Extended News; Government; News/Current Events
KEYWORDS: deficit; wgids
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I just didn't want to see this shocking news not qualify as news in view of terrorism covering everything up!!! These bulletins just scrolled by on the BigCharts.com site... Amazing!!!
1 posted on 07/07/2005 2:54:30 PM PDT by SierraWasp
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To: Grampa Dave; Dog Gone; Ernest_at_the_Beach; tubebender; BOBTHENAILER

Surprise shrinking deficit ping in view of massive spending!!!


2 posted on 07/07/2005 2:56:50 PM PDT by SierraWasp (What other nation could spear a comet in deep space on independence holiday? God Bless America!!!)
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To: SierraWasp

you beat me to that thought. - Massive spending and still down 75 billion. talk about a good economy. Where is all the money coming from?


3 posted on 07/07/2005 2:59:59 PM PDT by q_an_a
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To: SierraWasp

Heading in the right direction, anyway...


4 posted on 07/07/2005 3:00:11 PM PDT by RockinRight (Democrats - Trying to make an a$$ out of America since 1933)
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To: SierraWasp

Reduce the taxes and make Harry "wimper" Reed concerned


5 posted on 07/07/2005 3:00:47 PM PDT by spokeshave (Strategery + Schardenfreude = Stratenschardenfreudery)
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To: SierraWasp

Gee. Tax cuts work?


6 posted on 07/07/2005 3:03:27 PM PDT by grobdriver (Let the embeds check the bodies!)
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To: q_an_a

Tax rates go down, revenues go up!

Next, get rid of the estate tax!


7 posted on 07/07/2005 3:03:49 PM PDT by HonestConservative (Bless our Servicemen!)
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To: SierraWasp

Good news bump!


8 posted on 07/07/2005 3:04:34 PM PDT by Ernest_at_the_Beach (History is soon Forgotten,)
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To: HonestConservative

>>>Tax rates go down, revenues go up!

Revenues are still down relative to the last year of the high tax Clinton presidency. Spending on the other hand is up considerably.


9 posted on 07/07/2005 3:11:52 PM PDT by NC28203
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To: SierraWasp

Can we do it by '08?
'03-'04: $420 Billion
'04-'05: $325 Billion.
'05-'06: $225 Billion
'06-'07: $110 Billion
'07-'08: surplus

If Bush gets us to a budget surplus by 2008, we get to keep the White House for another 4 years.


10 posted on 07/07/2005 3:13:36 PM PDT by dangus
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To: SierraWasp; Willie Green

Willie Green is deeply saddened


11 posted on 07/07/2005 3:16:28 PM PDT by John O (God Save America (Please))
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To: SierraWasp

Bush's fault.


12 posted on 07/07/2005 3:16:58 PM PDT by John O (God Save America (Please))
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To: SierraWasp

So we are screwed in 20 years as opposed to 15

Whoo-Hoo


13 posted on 07/07/2005 3:17:05 PM PDT by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
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To: SierraWasp

Don't you belive it.

This is under the department of figures never lie, but liars always figure. The increase in the public debt between June 30, 2004 and June 30, 2005 is: 562 billion

Total Public Debt outstanding:
2005: 7,836,496 million
2004: 7,274,335 million

2004:
http://www.publicdebt.treas.gov/opd/opds062004.htm

2005: http://www.publicdebt.treas.gov/opd/opds062005.htm

The difference between the 562 billion actually borrowed, and the 251 billion debt listed or admitted, is that half the debt, including the Iraq war is 'off the books' which means the President and the Congress do not have to account for that borrowing. Our kids will.

BJ Clinton did the same trick for the year that he claimed a balanced budget. Sure the budget was balanced, by borrowing money 'off the books'.

Creative accounting. We sent the bozos from Enron to jail for less. Far less.


14 posted on 07/07/2005 3:19:35 PM PDT by garyb
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To: SierraWasp

Laffer Curve and supply-side Reaganomics win again despite gross spending.


15 posted on 07/07/2005 3:19:49 PM PDT by RedOhio
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To: dangus

Here are the figures, presuming that receipts grow 5.3% faster than outlays:

'03-'04: -$412 Billion. (I was $8B off last post)
'04-'05: -$325 Billion.
'05-'06: -$227 Billion.
'06-'07: -$116 Billion.
'07-'08: +7 Billion.


16 posted on 07/07/2005 3:20:28 PM PDT by dangus
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To: garyb

Uh, no... This is reporting 3/4ths of a year, and you are calling it a lie because its figures are smaller than your fill-year figures. The actual distortion caused by social security, etc. is about 1/2 what you are calling it, but still huge.


17 posted on 07/07/2005 3:22:05 PM PDT by dangus
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To: RedOhio; NormsRevenge; Carry_Okie; tubebender; hedgetrimmer; forester; calcowgirl; Amerigomag; ...
DING! DING! DING! YOU ARE THE WINNER!!!

"Laffer Curve and supply-side Reaganomics win again despite gross spending."

Now if only the pseudo Republican Governor of CA could have figured this out!!!

18 posted on 07/07/2005 3:25:21 PM PDT by SierraWasp (What other nation could spear a comet in deep space on independence holiday? God Bless America!!!)
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To: dangus

I doubt it. With "projected savings" out comes the spend-a-holics to ask for more $$.


19 posted on 07/07/2005 3:29:08 PM PDT by IllumiNaughtyByNature (Forget about Terrorism Fool! My pug has the master plan!)
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To: q_an_a

"Where is all the money coming from?"

The DNC and George Soros. Gotta love the libs contributing to the economy. They give it to their ACLU attorneys who then buy great toys that keep those companies running.





20 posted on 07/07/2005 3:34:22 PM PDT by EQAndyBuzz (Liberal Talking Point - Bush = Hitler ... Republican Talking Point - Let the Liberals Talk)
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