muck Posted June 13, 2007 Share Posted June 13, 2007 (edited) ...from some private research I get...no link...emphasis mine... "The Federal deficit has been falling precipitously over the last eight months as revenues have been outpacing expenditures. Both revenue and spending continue to be at record levels but the spending side has been positively impacted by the absense of any large scale outlays on natural disasters such as Hurricane Katrina. The increase in revenues has been attributed primarily to the improved corporate performance over the last year and the near record levels of employment which has led to higher corporate tax and income tax revenue. The projected deficit for 2007 will be around $177 billion and that will put it about 28% below last year's deficit of $248 billion. Last year's numbers were the lowest in four years. The budget hasn't been in balance since 2001 but the White House projects that it will return to equilibrium by 2011 -- even if the current tax cuts are left intact. The Democrats are angling to rescind the tax cuts on the basis of deficit concerns but as these latest numbers demonstrate, the best way to reduce a deficit is to reduce government spending and stimulate the business community to grow faster. The idea of raising taxes to fend off a deficit has been rejected before but many have apparently not been paying attention." Edited June 13, 2007 by muck Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted June 13, 2007 Share Posted June 13, 2007 How do revenues outpace revenues? Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted June 13, 2007 Share Posted June 13, 2007 Oh yeah, thank you Nancy Pelosi! Quote Link to comment Share on other sites More sharing options...
yo mama Posted June 13, 2007 Share Posted June 13, 2007 How do revenues outpace revenues? You get there on a net-net basis. Quote Link to comment Share on other sites More sharing options...
muck Posted June 13, 2007 Author Share Posted June 13, 2007 How do revenues outpace revenues? By me not paying attention when re-typing the missive... Quote Link to comment Share on other sites More sharing options...
untateve Posted June 13, 2007 Share Posted June 13, 2007 I :heart: nancy pelosi. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted June 14, 2007 Share Posted June 14, 2007 Ok, so that I'm sure I understand... When you say "The projected deficit for 2007 will be around $177 billion", that means that we are adding 177 billion dollars to the Federal deficit this year... correct? So... the Federal deficit is actually 8-9 Trillion dollars and still getting larger? I don't see how that can possibly be characterized as being "down". It's up... by 177 billion dollars. Quote Link to comment Share on other sites More sharing options...
Pope Flick Posted June 14, 2007 Share Posted June 14, 2007 Ok, so that I'm sure I understand... When you say "The projected deficit for 2007 will be around $177 billion", that means that we are adding 177 billion dollars to the Federal debt this year... correct? So... the Federal debt is actually 8-9 Trillion dollars and still getting larger? I don't see how that can possibly be characterized as being "down". It's up... by 177 billion dollars. Fixado. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted June 14, 2007 Share Posted June 14, 2007 Fixado. Thank you. Above all I strive for accuracy. Maybe that's why I'm always confused about these claims. Quote Link to comment Share on other sites More sharing options...
yo mama Posted June 14, 2007 Share Posted June 14, 2007 (edited) I don't see how that can possibly be characterized as being "down". Total debt is not down: its up higher than last year. We just didn't create as much new debt as last year. "I know I keep losin' your money, baby. But I promise: four or five poker games from now I'm bound to start breakin' even." Edited June 14, 2007 by yo mama Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted June 14, 2007 Share Posted June 14, 2007 I was thinking of the net-net. Quote Link to comment Share on other sites More sharing options...
untateve Posted June 14, 2007 Share Posted June 14, 2007 Total debt is not down: its up higher than last year. We just didn't create as much new debt as last year. "I know I keep losin' your money, baby. But I promise: four or five poker games from now I'm bound to start breakin' even." Thank you, Nancy Pelosi Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.