The Incredible Shrinking Budget Deficit

[Tsing Tao]

Quote from Ricter:

"Yeah, but the debt..." Snore. This is how you tackle debt, by getting deficits under control.

WB, AK. Where ya been?

It is certainly a start, we shall see if it holds. I remember a certain dope (AK) posting how California was under control as well, but that didn't turn out as well as he planned it.

 

[pspr]

Quote from AK Forty Seven:

3.5 trillion was spent in 2009,The budget Bush submitted had 3.1 trillion in spending

But Bush didn't spend all that money. Obama took over in January, started spending and also passed another $800 billion stimulus.

This isn't an argument you can win AK. You should pick a different fight.

 

[Ricter]

It's helpful to remember that these enormous deficits are a product of non-discretionary spending, i.e. counter-cyclical spending, plus reduced revenues, thanks to the Great Recession. So deficit reduction can continue so long as the economy continues its recovery, and the gamblers do not bring us down again. I'll also mention, in anticipation of another fight to come, that the debt situation can be improving even as the debt ceiling is reached.

 

[AK Forty Seven]

Quote from pspr:

But Bush didn't spend all that money. Obama took over in January, started spending and also passed another $800 billion stimulus.

This isn't an argument you can win AK. You should pick a different fight.

Bush spent all but 400 billion of it.Obamas stimulus was spread out into multiple years ,only 185 billion of Obamas stimulus was added to Bushs 2009 budget


http://useconomy.about.com/od/candidatesandtheeconomy/a/Obama_Stimulus.htm


The package was designed to be spent over ten years. However, to give maximum impact, $720 billion, or 91.5%, was budgeted for the first three fiscal years: $185 billion in FY 2009, $400 billion in FY 2010 and $135 billion in FY 2011.

 

[Lucrum]

Quote from AK Forty Seven:

...The problem with a republican congress is they never put pressure on a republican president to balance the budget

Without looking it up. Seems to me most the time we have a republican congress, we don't have a republican president.