REAL WORLD EVENT DISCUSSIONS

Current deficit plunges 32%

POSTED BY: NIKI2
UPDATED: Sunday, May 12, 2013 05:46
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Saturday, May 11, 2013 7:41 AM

NIKI2

Gettin' old, but still a hippie at heart...


A teeny slice o good news for the day:
Quote:

While the country has still racked up an estimated $489 billion deficit in the first seven months of this year, that's about a third less than the $720 billion recorded for the same period last year.

Later this month, the CBO is expected to publish its revised estimates for spending, taxes and deficits over the next 10 years. Earlier this year, it estimated an annual deficit for 2013 of $845 billion, but some budget observers have said they expect the deficit for this year will come in lower than that.Excerpts from http://www.localnews8.com/lifestyle/money/Current-deficit-plunges-32/-
/461672/20053352/-/4lsu4r/-/index.html


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Saturday, May 11, 2013 8:02 AM

AURAPTOR

America loves a winner!



Proof that sequestration and TEA Party economic ideas work.

Spend less, shrink the size of govt, and our deficit will come down.



Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen

Resident USA Freedom Fundie

" AU, that was great, LOL!! " - Chrisisall

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Saturday, May 11, 2013 8:29 AM

NIKI2

Gettin' old, but still a hippie at heart...


No, tiny little pea-sized brain, you should have read the article; the reason was a BALANCED APPROACH, both increased revenue AND less spending:
Quote:

A major reason: A big jump in tax revenue.

Tax collections rose by $220 billion -- or 16% -- between the start of the fiscal year on Oct. 1 through April 30. Individual and payroll taxes accounted for $184 billion of that increase.

The tax haul rose sharply because wages and salaries were higher, the payroll tax cut of the past two years expired on Jan. 1 and the fiscal cliff deal brokered over New Year's raised tax rates on high earners.

Spending, meanwhile, fell 1.9% year over year, the CBO estimated.

The biggest percentage drop occurred in the payment of unemployment benefits, which were down nearly 25%, or $15 billion. Defense spending fell 5.3%, or $20 billion, and "other activities" -- primarily spending on nondefense programs -- fell 8.6%, or $58 billion.

Less was spent, for instance, on housing assistance, energy programs and international assistance, along with the TARP bank bailout and on mortgage giants Fannie Mae and Freddie Mac. Same article



In other words, $93 billion less was spent, $220 billion more was taken in...twice as much increased revenue.


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Sunday, May 12, 2013 4:59 AM

AURAPTOR

America loves a winner!



Quote:

The tax haul rose sharply because wages and salaries were higher, the payroll tax cut of the past two years expired on Jan. 1 and the fiscal cliff deal brokered over New Year's raised tax rates on high earners.


I know you love to insult those with which you disagree, but honey, you're wrong.

Tax revenue increased greatly ... why? Because wages and salaries were higher, and unemployment, while still absurdly high, is inching down, putting more folks in the work force, resulting in more folks paying taxes.

No need to raise taxes on the evil rich, as an improving economy lifts us all.

And cutting spending allows for us to not waste so much of that tax revenue, cutting the deficit, which is exactly the OPPOSITE of what Obama claimed would happen, in his doom / gloom mantra about how sequestration would put a lid on the recovery. It's doing what needs to be done, put a muzzle on the BIG GOV feeding frenzy.

All we REALLY need to do is cap spending, or better yet, go back to Clinton era spending levels, and then help grow the economy.


Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen

Resident USA Freedom Fundie

" AU, that was great, LOL!! " - Chrisisall

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Sunday, May 12, 2013 5:15 AM

JONGSSTRAW


The national debt is nearing $ 17 Trillion. It was $ 10 Trillion when Obama took office. Celebrating a reduction in the annual deficit, which will still net a huge yearly deficit, is like celebrating Jodi Arias for only stabbing her boyfriend 27 times instead of 28 times.

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Sunday, May 12, 2013 5:17 AM

AURAPTOR

America loves a winner!


Quote:

Originally posted by Jongsstraw:
The national debt is nearing $ 17 Trillion. It was $ 10 Trillion when Obama took office. Celebrating a reduction in the annual deficit is like celebrating Jodi Arias for only stabbing her boyfriend 27 times instead of 28 times.




Any morsel the Left can use to celebrate His ONENESS, is all it takes.

Rejoice, and be glad!

Yeah, right.

Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen

Resident USA Freedom Fundie

" AU, that was great, LOL!! " - Chrisisall

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Sunday, May 12, 2013 5:37 AM

6IXSTRINGJACK


Wow! Taxes went up and payroll taxes went up too!

There's ZERO chance that was a coincidence?



I'm sure if there isn't Niki or Co. will tell us about it.

If it "went up" for the year, it's only because we're still on the up-tick. The more we pay, the more we pay.

Quote:

Less was spent, for instance, on housing assistance, energy programs and international assistance, along with the TARP bank bailout and on mortgage giants Fannie Mae and Freddie Mac.


i thought this was an interesting part of all of it, especially considering the source. 75% of these things were what "the other side" was fighting for 8 years ago....

I don't even hear any arguments about the weather anymore.

Seems to me like most of the arguments agree about jobs outside of the elite today.

Mother-Nature or "God" be damned....

this is like good TV you can be a part of....

The only way I'm going broke is if you all go broke. I know you won't let that happen....

i'd write a book, but nobody would read it...

i'm sure whatever is on Animal Planet this very second, even that Geico Commercial is more important than this.

These are not the Droids you're looking for....


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Sunday, May 12, 2013 5:46 AM

JONGSSTRAW


Quote:

Originally posted by AURaptor:
Quote:

Originally posted by Jongsstraw:
The national debt is nearing $ 17 Trillion. It was $ 10 Trillion when Obama took office. Celebrating a reduction in the annual deficit is like celebrating Jodi Arias for only stabbing her boyfriend 27 times instead of 28 times.




Any morsel the Left can use to celebrate His ONENESS, is all it takes.

Rejoice, and be glad!

Yeah, right.



Here's a classic clip. Start at 21:50 and imagine Ralph is Obama, and he's explaining to Alice, the American Taxpayer, how he bankrupted the country and destroyed our economy.





"So what if got into a little trouble. I had it and I went with it. It came easy and it went just as fast. If anybody found out I had it, they could have it. It's my nature to spend."



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