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Budget Deficit decrease, confused.....

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Budget Deficit decrease, confused.....

Old 07-13-2007, 05:08 AM
  #1  
Nontypical Buck
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Default Budget Deficit decrease, confused.....

U.S. Budget Deficit Will Fall To $205 Billion []

7/11/2007 12:08:13 PM The latest White House estimates show that the United States' budget deficit in the current financial year will reduce to $205 billion.

The new figure is less than half of the $413 billion deficit in 2004, when it was at its peak, and considerably smaller than estimated originally.

President Bush will discuss the figures in an afternoon appearance on Wednesday.

The White House predicted in February that budget deficit would touch $244 billion in the fiscal year, which ends in September. Stronger-than-expected revenue collections were attributed to the estimated figure. The deficit was $248 billion last year.



Someone help me out here, I'm confused, not being political savy, doesn't this just mean that imports are being reduced into our country? This isn't, don't know how do I say this, "something that we can blame as Bush's fault?" Bush doesn't control the imports of goods that companies here import does he? That's all related to demand of that particular product or goods being imported? I realize that goods imported can be anything from tennis shoes sold in Walmart made in China, to oil from Saudi Arabia. I guess I look at it as we (as a nation) are spending more on goods coming from other countries, than what we are selling to other countries. But isn't that what makes a good economy? Spending? Everyone benifits from that dont they? Or do I got that wrong. Where as we should not be spending, but saving, like in selling more goods than we import. I guess I l'm looking at this article as something not good to see for the economy. Somebody chime in here and give me your opinion.

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Old 07-13-2007, 05:20 AM
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Default RE: Budget Deficit decrease, confused.....

No this has to do with the money our country steals from us at gun point. The economy is booming right now. People are making more and more money, therefore the goverment is raking in the money out of our pockets at an all time record rate (and they say tax cuts reduce the money coming into the goverment). If we could get those idiots in DC to stop spending so much we wouldn't have a deficit.

Think about it 2.9 trillion vs 209 billion in over expenditure. We can't cut that and not notice it?
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Old 07-13-2007, 05:42 AM
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Default RE: Budget Deficit decrease, confused.....

ORIGINAL: Fieldmouse


Think about it 2.9 trillion vs 209 billion in over expenditure. We can't cut that and not notice it?

Your making me even more confused, where did the 2.9 trillion come from? the article I pasted above said "The deficit was $248 billion last year. " The article didn't get it wrongdid it?
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Old 07-13-2007, 05:50 AM
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Default RE: Budget Deficit decrease, confused.....

The total budget is $2.9 trillion (actually I think it's $2.8 trillion this year and next year's proposed budget is $2.9).
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Old 07-13-2007, 05:50 AM
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Default RE: Budget Deficit decrease, confused.....

I'm sorry, the 2.9 trillion is what congress want to spend next year, ie the Federal Budget. This year we over spent 208 billion. Why can't we cut across the board 2.8 billion?
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Old 07-13-2007, 06:08 AM
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Default RE: Budget Deficit decrease, confused.....

Because, at the very moment, Democrats don't want to cut the pork. Just like the Republicans didn't want to cut the pork before them. Democrats ran on the notion that Republican spending was out of control. Then their first budget projects across-the-board increases. Neither party is too interested in America's indebtedness, so long as they get their particular spending projects across.

The Bush White House figures project a surplus within a few years if we can get the Democrats to leave those tax cuts alone that they're so eager to bite into.
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Old 07-13-2007, 07:07 AM
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Default RE: Budget Deficit decrease, confused.....

Stop spending 10 Billion each month in Iraq and our budget would soon be balanced. If we actually need to stay there for the benefit of the "new Democracy" then let them pay us the 10 Billion plus interest per month. Might as well make some money on our rebuild of that pile of sand. We are a capitalistic society and where is our payback again? Are they still pumping oil and who is getting the profits? Time for some cha-ching George.
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Old 07-13-2007, 07:25 AM
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Default RE: Budget Deficit decrease, confused.....

God help me, I think Im about to agree with Fieldmouse on something

10 billion a month is 120 billion a year, theyre overspending by twice that amount and Ive got a funny feeling if they werent pumping that money into Iraq theyd be spending it somewhere else anyway.Id just as soon see the money spent keeping our miliatry safe while theyre deployed as see it being spent on someones pet projects that dont benefit anyone but a few people.Im not a fan of the war but as long as were there Id rather not short change the troops in things they need in an effort to cut the deficit.
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Old 07-13-2007, 07:57 AM
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Default RE: Budget Deficit decrease, confused.....

Mast... You're confusing trade deficit with budget deficit.

A budget deficit occurs when the government takes in $2.7 Trillion in taxes, and then spends $2.9 Trillion. Kinda like turning the wife loose in Macy's with a credit card...

A trade deficit occurs when we import $500 Billion worth of goods, and onlyexport $400 Billion.
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Old 07-13-2007, 08:42 AM
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Default RE: Budget Deficit decrease, confused.....

ORIGINAL: ipscshooter

Mast... You're confusing trade deficit with budget deficit.

I give up! Either I read the dang article wrong or I don't understand what the article is trying to say. If you read my original post is said " The deficit was $248 billion last year. " Yet fieldmouse and others above give 2.9 trillion as a figure. somehow my mind has a large gap in it. I've tried to find the article, but to no avail I cant' find it. but did look at several others including Bloomberg, and Ruetgers, and both have similar figures. they make this stuff so hard to understand, simple folk like myself can't make heads or tails out of it. Time to find a hole in the ground and live off the grid!!![:'(]
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