Skip to comments.Deficit as of September 2 blew away 2003 and is second only to the deficit of 2004.
Posted on 09/07/2005 5:11:18 AM PDT by babylontoday
As of 9-2-05 the U.S. deficit totaled over 7 trillion, 940 billion which is within 35 billion of the record deficit of 2004 and more than 10 billion more than the deficit of 2003. And cheerleaders like Larry Kudlow write "Psst the deficit is shrinking"!?!
You're confusing the debt with the deficit.
Don't let facts get in the way of this guy being a moron.
The deficit is shrinking.
Thank you for the correction. Yes indeed I meant to say that as of 9-2 our deficit so far this year is 561 billion which is more than 10 billion over 2003 and within 35 billion of our historical deficit of 2004. Thanks for the correction. Chart of annual deficits below.
Hate to bust your bubble coop. Get info and dodge spin.
"Don't let facts get in the way of this guy being a moron."
Thank you beholdapalehorse. Every forum needs at least one.
(must be jonesin' for site hit-deficit)
My bubble is doing quite well, thank you.
We're oversupplied with morons in this world relative to demand, and you're further increasing the supply.
"My bubble is doing quite well, thank you"
That's the problem with petty partisanship. Why don't you try to break it?
Get the facts instead of CBO spin. It is understandable that many tend to seize on articles that reinforce their hope, but it is not too productive. My chart http://www.babylontoday.com/index.htm#monthly_deficit comes directly from Treasury numbers http://www.publicdebt.treas.gov/opd/opdpdodt.htm . The deficit, or what the government refers to as the "on budget deficit" is exactly what my chart represents and so far this fiscal year is 561 billion. Or try Webster: Deficit - A shortage in amount, esp. of money. You folks seem to be pretty propagandized.
If you want to get an idea as to how distorted CBO numbers can get just look at what they did to the Prescription Drug so-called Benefit projections.
"Nice posting of pure HOR$E$$$$$$HIT!!"
xcamel I don't suppose you would care to be more specific now would you?
"We're oversupplied with morons in this world relative to demand, and you're further increasing the supply."
And you went and did it again in spite of the facts. I don't suppose you would like to be a little more specific regarding the FACTS would you? No I suppose not.
deficit so far this year 561 billion
deficit 2003 555 billion
deficit 2004 596 billion
This is the amount of money that our government has come up short of being able to pay its bills in these 3 years.
Webster: Deficit - A shortage in amount, esp. of money.
A simple google search proves you wrong by about 4000 hits, and going right to the real treasury report puts a final nail in your bull.
You selling gold on the side or something?
Why don't you try telling me what party I belong to?
Change it to BALONYTODAY.
The Congressional Budget Office (CBO) projects the following Total Deficit (-) or Surplus as a Percentage of GDP 2005 -3.0, 2006 -2.1, 2007 -2.0, 2008 -2.0 2009 -1.8, 2010 -1.7 2011 -1.0, 2012 -0.1, 2013-0.1, 2014 0.1, 2005 to 2009 -2.2, 2005 - 2014 -1.3
You can Babble On Today and all the way to 2014 but the facts are the deficit as a GDP percentage will continue to shrink.
Xcamel again you avoid specifics. I am selling nothing but a view of what our children and their children are going to suffer and no amount of cheerleading by you or Kudlow http://www.babylontoday.com/deficit_2005.htm will change that. I know simple subtraction is a difficult process for some of us so I will further attempt to demonstrate the source.
On the TREASURY site for "Debt to the penny and who holds it"
http://www.publicdebt.treas.gov/opd/opdpdodt.htm we find that debt as of 9-2-05 is 7,940 billion. Now subtracting the debt on fiscal year (9-30) end of 04 of 7,379 we find that the U.S. is behind in paying its bills SO FAR this fiscal year by 561 billion. Now subtracting the fiscal year debt for 03 of 6,783 billion from 04s 7,379 we find that the on budget deficit for 04 was 596 billion. Now subtracting the total debt for 02 of 6,228 from 03s 6783 we get 555 billion for 03s deficit. The reason I linked to my own chart of these treasury figures on a monthly basis is because I had to generate it because I could not find it elsewhere to link to.
Please refer to FACTS in reply.
For comparison of annual deficits presented with a view of total historical annual debt I would refer you to this chart which I generated directly from the Treasury link
A bit more interesting is when you take Microsoft Excel and project the debt forward based on the last 54 years. http://www.babylontoday.com/index.htm#debt_trend Don't blame me, I didn't write the software.
Hey hflynn why don't you try getting information from sources like the GAO U.S. Financial Statement. Did it ever occur to you that the CBO might be just a teensy bit partisan? http://www.babylontoday.com/index.htm#gao_financial It gets better: http://www.babylontoday.com/index.htm#debt_burden and then the drug "benefit" spending that has yet to kick in: http://www.babylontoday.com/prescription_drug_benefit.htm
Right, anything that disagrees with you is partisan, while anything that agrees with you is fact. Fact is the economy is expanding and the deficit as a percentage of GDP is shrinking and you know it.
Right, and tax cuts don't work.
(just another f* troll)
Katrina could cost 400,000 jobs -- CBO
Congressional Budget Office says storm could also knock up to 1 percent off economic growth.
September 7, 2005: 10:56 AM EDT
What's important is the DEBT as a percentage of GDP. It is the debt, not the deficit, that we and our children will have to pay interest on forever. The following graph shows the latest CBO projections for the debt as a percentage of GDP:
The actual numbers and sources can be seen at http://home.att.net/~rdavis2/cbobud05.html. If the tax cuts and the fix of the AMT (Alternate Minimum Tax) are extended, the debt is projected to increase from the current 64 percent of GDP to 81 percent of GDP by 2015. Then the Boomers start to retire and our finances really get interesting (see http://home.att.net/~rdavis2/pro2006.html.
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