Defecit Could be Gone

[NeverWill]

Make sure you read it until the end

Kind of tells you how it got here

http://nbcpolitics.msnbc.msn.com/_ne...to-11-trillion

[Fieldmouse]

Oh, so taking more money out of the economy equals jobs growth? You really failed econ101 didn't you? Besides that, even Obama didn't want to end the tax cuts.

What's wrong with cutting the ridiculous spending spree Obama put us on that is causing the trillion dollar deficits?

[CalHunter]

I'm thinking you should pay more attention to the middle of the article and reread it carefully (see below partial quote from your original referenced article).

If you add the figures in YOUR article, they add up to over $4T added to the deficit in the last 3 years and this year is supposed to be $1.1T in additional deficit. That's over $5T in 4 years if Obama stays on the spending track predicted by this article.

Exactly how do you think that the "Defecit Could be Gone?" (sic)

If the CBO estimate for this year's deficit proves accurate, fiscal year 2012 would be the fourth consecutive year of federal budget deficits topping $1 trillion. The shortfall registered $1.3 trillion in fiscal 2011, up from $1.29 trillion in 2010. It reached $1.42 trillion in 2009, the highest ever.

The report is yet another reminder of the perilous fiscal situation the government is in, but it is commonly assumed that little will be accomplished on the deficit issue during an election year.

[NeverWill]

Read the article closely. The group that did it is not liberal and they agree that if we stopped the VERY WEALTHY tax cuts in 5 years we would start getting close again. Think if we never let it happen in the first place back in 2002-2003.

The compounding of that revenue loss(bush tax Cuts) along with the sharp increase in SS, medicare, military and other stuff built into our society caused the problem. Then on top of that millions losing their jobs with nothing in sight starting in 2006 and there you have it.

Simple math.

[BigBuck22]

Originally Posted by Fieldmouse

Oh, so taking more money out of the economy equals jobs growth? You really failed econ101 didn't you? Besides that, even Obama didn't want to end the tax cuts.

What's wrong with cutting the ridiculous spending spree Obama put us on that is causing the trillion dollar deficits?

http://en.wikipedia.org/wiki/Fiscal_multiplier

"The multipliers showed that any form of increased government spending would have more of a multiplier effect than any form of tax cuts. The most effective policy, a temporary increase in food stamps, had an estimated multiplier of 1.73.[...] Making the Bush tax cuts permanent had the second-lowest multiplier, 0.29."

[Fieldmouse]

Originally Posted by BigBuck22

http://en.wikipedia.org/wiki/Fiscal_multiplier

"The multipliers showed that any form of increased government spending would have more of a multiplier effect than any form of tax cuts. The most effective policy, a temporary increase in food stamps, had an estimated multiplier of 1.73.[...] Making the Bush tax cuts permanent had the second-lowest multiplier, 0.29."

Bogus, where can the government get it's money? A, take out of the private sector in the form of taxes, B, take it out of the private sector by borrowing and competing with investment dollars or C, print money reducing the value of the dollar in the private sector. Either way, just like friction, you can't have a net positive return. Second, who is best at investing the money? The person who earned it or the person who stole it?

Now Willpa, just how much revenue do you think you would bring in by allowing the top bush taxes to expire? This was calculated during the debate to be 30 billion. You can't close the trillion dollar deficits that Obama has given us with 30 billion.

[bergall]

demoKrat math.... arithmetic for idiots.

[NeverWill]

Hate to do this, but here are some quick facts


http://www.washingtonpost.com/blogs/...FtbG_blog.html


Of course the debate guys showed 10% of the real cost to you me and the other 99% of americans that don't benefit.

I did forget to mention about all of the jobs he promised it would save. HAHAHAHAHAHALOLOLOLOL. Snowed again by the Republicans and VoooDooo Economics.

[BigBuck22]

Bogus, where can the government get it's money? A, take out of the private sector in the form of taxes, B, take it out of the private sector by borrowing and competing with investment dollars or C, print money reducing the value of the dollar in the private sector. Either way, just like friction, you can't have a net positive return.

Reaganomics doesn't work. They'll flat-out tell you that in college.

Second, who is best at investing the money? The person who earned it or the person who stole it?

C). The consumer

Now Willpa, just how much revenue do you think you would bring in by allowing the top bush taxes to expire? This was calculated during the debate to be 30 billion. You can't close the trillion dollar deficits that Obama has given us with 30 billion.

I read that removing the tax break from people earning over $250,000 would bring in $700-800 billion in a decade.

[Fieldmouse]

Those aren't facts, they were pipe dreams. There was never a 5 trillion dollar surpluses. Those were Rosie numbers if nothing changed. However, things did change, Bill Clinton's policies put us into a recession( if you make the claim about bush) before Bush took office. Bush didn't get his first budget passed until 2002 because congress followed the law and passed budgets on time. Obama got his budgets (spending) unblocked and pushed right thru on day one. Dems delayed everything until then. 9/11 caused a 1 trillion dollar drop in GDP over night.

And what followed under Bush? Record revenues into the treasury. Record employment in the US. Rising incomes with more people rising up from the lower class and finding themselves in higher income brackets. In fact, the very top income bracket was the ones who found themselves lower. Those are facts Willpa.