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terpfan1980
terpfan1980
Join Date 08/2004
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From Paul Harvey news (radio): Budget deficit down 17 pct.

February 11, 2005 12:35:31 PM from JoeUser ForumsJoeUser Forums
From Paul Harvey news (over radio). You may be able to hear the actual report by visiting the official Paul Harvey website (see headline link).

Paul Harvey.com


Sorry I can't seem to currently find print media (or other web linkable reference) links for this, but in a report in the opening few pages of the Paul Harvey news for 2-11-2005, heard over the radio, there's news that the all important Budget Deficit is looking to be down by 17% as the government continues to take in even more revenue than originally projected.

I'm sure the doom and gloom Clueless Old Liberals (COLs) like Gene will be around soon to pooh-pooh this news and say it's a mistake, deny that it's a fact, demand more linkable references to the information and otherwise pretend the sky is falling.

But... if this news is correct (and I suspect it is), revenues are still climbing DESPITE RECORD TAX CUTS that were supposed to drive the country into bankruptcy, and DEFICITS are going down.

We are nearing the period when we all should be really concerned about whether or not the original Bush tax cuts are extended, as, because of accounting gimmickry, many of the original cuts were only enacted for short periods of time to be "sunsetted" later so that future budgets wouldn't be impacted, and the projections would fit the desired results.

Some of these cuts may need to be addressed, as the entire tax code continues to need simplification, but it is becoming more and more clear that cutting taxes does, in fact, increase revenues and get more and more money flowing in our economy.
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terpfan1980
Gideon MacLeish
Join Date 06/2004
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Reply #1 February 11, 2005 2:15:15 PM
from JoeUser ForumsJoeUser Forums

Deficits ARE going down, yes...IF Bush's budget gets through without a lot of pork added on, which is unlikely. BUT, they need to go down further ($8566 per man, woman and child in this country for this year's budget ALONE...about 20% of that is deficit spending). Pres. Bush, to his credit, does seem to be aware of this and does seem to be working in this direction. His State of the Union speech DID hit all of the fiscally conservative highlights I would like to hear, and to that end, I will give him a chance to try to rectify years of atrocious overspending that long preceded him.

Now, if we could win him over on the PERSONAL LIBERTIES side of things, we'd be doing fine ()

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terpfan1980
kingbee
Join Date 04/2004
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Reply #2 February 13, 2005 4:36:42 AM
from JoeUser ForumsJoeUser Forums
paul harvey is still alive????

paaaaage FOUR.

friends....sure the old car may still look pretty good but has it started using a lot of oil? does your garage floor like prince william sound? does the cloud of smoke following you down the street cause the local firehouse horses to gallop in place? if so, ive got good news from the folks at CASE-ITE MOTOR HONEY.
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terpfan1980
drmiler
Join Date 09/2004
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Reply #3 February 13, 2005 4:40:02 AM
from JoeUser ForumsJoeUser Forums

Deficits ARE going down, yes...


Not according to our resident doom and gloom sayer (COL Gene).
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terpfan1980
kingbee
Join Date 04/2004
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Reply #4 February 13, 2005 7:45:09 AM
from JoeUser ForumsJoeUser Forums
it just occured to me that paul harvey may be talkin bout the 1964 deficit
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terpfan1980
whoman69
Join Date 10/2004
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Reply #5 February 13, 2005 9:37:41 AM
from PoliticalMachine ForumsPoliticalMachine Forums
What does it mean when he says the deficit is going down by 17%. It certainly can't mean that there will acutally be a surplus this year that will drop the deficit. More likely the statement means that it will drop 17% from last year's all time high. That still puts the deficit at nearly $400 billion, so its an empty claim. Its also an empty claim since pork has not been considered in the statement. If the budget as proposed is only 17% lower than last year's all time high, then by the time pork is added in, it may actually be higher.
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terpfan1980
kingbee
Join Date 04/2004
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Reply #6 February 13, 2005 11:12:08 AM
from JoeUser ForumsJoeUser Forums
What does it mean when he says the deficit is going down by 17%.


for whatever it's worth, according to the treasury department's monthly budget report, deficit spending for the four month period from october through january was $109.2 billion--or 17% less than the $131.5 billion spent during those same four months a year ago.

the projected deficit for the budget year that began last oct 1 will increase at least 3.6% to $427 billion over last year's record level of $412 billion. so it looks like bush is gonna be the biggest spender in us history 2 years in a row.
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terpfan1980
kingbee
Join Date 04/2004
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Reply #7 February 13, 2005 11:16:00 AM
from JoeUser ForumsJoeUser Forums
I'm sure the doom and gloom Clueless Old Liberals (COLs) like Gene will be around soon to pooh-pooh this news and say it's a mistake, deny that it's a fact, demand more linkable references to the information and otherwise pretend the sky is falling.


see the comment above this one. while any improvement is welcome, that 17% reduction dont really mean anything.
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