From that interview.

PAULSON: The progress on the deficit is a huge positive.

And when I look at the hand that I have been dealt, coming down here as treasury secretary, one of the strongest hands I have been dealt is a very healthy economy, and an economy that is growing, and where revenues are coming in way ahead of forecasts.

CAVUTO: But maybe you came in at a top.

PAULSON: Our deficit is now 1.9 percent of our GDP. That is well below the — the average we have had for the last 40 years, and that despite the — the cost of the war and two hurricanes.

So, the concern about the deficit is not the — the present budget deficit. It is looking ahead a few years at — at the big structural deficit we are going to have, if we are unable to — to move quickly to reform our entitlement programs.

I didn't read anything about him saying a financial disaster was looming. Once again you use false and misleading scare tactics to blame Bush. Pathetic.

And what is the democrats plan to solve this? You once again exaggerated something into a scare tactic. Can you seriously exist without blaming Bush and writing countless articles on the same bs over and over?

I didn't say the democrats caused it. I asked what the democratic plan is. Democrats would add more entitlements, especially to illegal aliens.

I pointed out that once again you exaggerate the issue and use scare tactics for your so-called articles.

IslandDog

My article is not a scare tactic unless that is what you think the Secretary of the Treasury was doing on Fox News. It is a dose of reality. The very same issue is behind the statements of the Comptroller General's statement last December that I quoted.


The Democrats support a BALANCED BUDGET something that was the Republican concept before Bush and the current GOP leadership.

They also support meeting the promises made to the baby Boomers with regard to Social Security and Medicare. That will require added funding as the number of people employed paying taxes drop compared with each retired. Today that is about 3.5 working to one retired. That is producing a SURPLUS for both Social Security and Medicare. As the number working drops below 3 toward two added funding for both programs will be required. That is a fact that Bush and the GOP have not come to grips with.

Your article addresses the annual budget deficit being reduced. It does not address the fact that to date the National Debt has gone from $5.7Trillion to$ 8.5 Trillion and even with the SLOWING of the annual deficit the increase in the interest will take place. The interest has already gone from 230 Billion in 2000 to about 380 billion in 2006. That amount will continue to increase as the National debt increases.

The key word is REDUCED. That shows that progress is being made, does it not?

This blog has NOTHING to do with terrorism and the Democrats are just as interested in protecting this country as the Republicans. The people that we are holding must to be tried and if found guilty be punished. They can not be held without a trial. That goes against the most basic principals of our country.

What is being reduced is the RATE of the annual deficit. The National debt is increasing every day and so is the interest we are paying. Until we have BALANCED the Budget and begin repaying all the debt bush added we have NOT SOLVED THE PROBLEM!

Hmmm, yes. I realize that, and you know what....the lower the INCREASE rate...the CLOSER we get to being able reverse it. It is one of many options.

DER!

If Bush is successful in cutting the annual deficit in half he we will still be about $200 Billion per year deficit and we will be over $9 Trillion in debt overall. That is the problem. Bush has increased the national debt more than anyone and will leave office with the budget out of balance. Now he wants to make the tax cuts permanent which the Brookings Institute estimates would add yet another $2.4 Trillion dollars to the debt by 2014. The GOP and Bush have caused a serious fiscal problem that we will be paying for by MUCH higher interest payments that will take the money we will need to fund Social Security and Medicare for the Baby Boomers.

BUT, he's cut it. Correct? Are you unable to give him credit for getting it that far? No, I do not think you are.

NO! He has added about $4 Trillion dollars to the overall debt which will drive the annual interest to $ 500 Billion per year. I will give him credit when he balances the budget and pays down the debt to the $5.7 Trillion that it was when he took office. Until the debt is REPAID we MUST pay the added interest EVERY YEAR and 40% of that interest is paid to foreign bond holders which means the money leaves our country! For a President with an MBA he is a disgrace!

Sorry but I call "foul" here! It has been "your" opinion over and over again that "Slick Willie" left office with a "balanced budget" AND a surplus. How in god's name can you have a surplus with a 5.7 trillion dollar debt?

Drmiler;

I found the exact number from the dept of the Treasusy ( The U.S. Treasury is not a liberal organization):

09/29/2006 $8,506,973,899,215.23

Drmiler

I take it you finally understand about the national debt.