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White House projects record deficit for 2009
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atl_tony
Jul 28, 08 13:34
Post #1 of 19 (254 views)
White House projects record deficit for 2009
Can't Post
http://edition.cnn.com/...9.deficit/index.html
...but projects a surplus in 2012. How long have we been told there will be a surplus down the road? Every year it seems, and every year the deficit grows. Didn't Clinton project the US would be out of debt by 2050? Seems like a long time ago. I don't expect to see us out of debt, or with a surplus, in my lifetime. I'm 32.
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OE Gear
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Discount prices on Suunto, High Gear, Brunton and more.
ike
Jul 28, 08 13:58
Post #2 of 19 (241 views)
Re: White House projects record deficit for 2009 [atl_tony]
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Yes, it's not entirely clear why continuing the same policies that brought huge deficits is somehow going to bring the budget back into balance.
Old and Haggard
Jul 28, 08 13:59
Post #3 of 19 (240 views)
Re: White House projects record deficit for 2009 [atl_tony]
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Hey, let's be fair. That deficit projection doesn't include the $80 billion in war spending. Oh, wait, never mind.
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Ken Lehner
"reread klenher [sic] and pretty much skip the rest." - desert dude 5/25/2008
Andrewmc
Jul 28, 08 14:25
Post #4 of 19 (225 views)
Re: White House projects record deficit for 2009 [ike]
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whats that saying.........."the first sign of madness is to do the same thing twice and expect a different result" (I paraphrase)
ajfranke
Jul 28, 08 14:29
Post #5 of 19 (221 views)
Re: White House projects record deficit for 2009 [atl_tony]
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Both parties are in total collapse on this issue. This year we had the $150 billion tax "rebate" for no particular reason. Just money given away. Nothing gotten in return, like say roads and bridges, and no economic incentives. Just today we had the Real Estate bailout bill that is going to be a total, bipartisan disaster.
These are gloomy times for a small government conservative like me.
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This forum is going to be a place of civil discourse, and those who wish to foment hate and discord are no longer welcome here. -- slowman 11/8/04
Art Franke
atl_tony
Jul 28, 08 14:30
Post #6 of 19 (221 views)
Re: White House projects record deficit for 2009 [Andrewmc]
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x2
Aren't there some states proposing a balanced budget constitutional amendment? I haven't heard much about this but it seems like the right way to go...
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OE Gear
SLOWTWITCH25 for 25% discount
Discount prices on Suunto, High Gear, Brunton and more.
elund
Jul 28, 08 14:39
Post #7 of 19 (212 views)
Re: White House projects record deficit for 2009 [atl_tony]
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BUT Clinton...oh, wait, nevermind
MattinSF
Jul 28, 08 14:41
Post #8 of 19 (209 views)
Re: White House projects record deficit for 2009 [atl_tony]
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In Reply To
http://edition.cnn.com/...9.deficit/index.html
...but projects a surplus in 2012. How long have we been told there will be a surplus down the road? Every year it seems, and every year the deficit grows. Didn't Clinton project the US would be out of debt by 2050? Seems like a long time ago. I don't expect to see us out of debt, or with a surplus, in my lifetime. I'm 32.
And Clinton was right on course for an end to debt by 2050, he just didn't figure on 8 years of Dubya the drunken sailor.
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HOPE is a plan that worked. CHANGE is a plan that worked. BELIEVE is a plan that worked.
ike
Jul 28, 08 14:57
Post #9 of 19 (202 views)
Re: White House projects record deficit for 2009 [ajfranke]
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Yep, the election year raid on the cookie jar is fully on.
MattinSF
Jul 28, 08 15:00
Post #10 of 19 (195 views)
Re: White House projects record deficit for 2009 [ajfranke]
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These are gloomy times for a small government conservative like me.
HAHAHAHAHAHAHAHAHA...the last guy in America supporting the trillion dollar Iraq boondoggle has the nuts to call himself a small government conservative! HAHAHAHAHAHAHAHAHA
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HOPE is a plan that worked. CHANGE is a plan that worked. BELIEVE is a plan that worked.
YaHey
Jul 28, 08 15:45
Post #11 of 19 (179 views)
Re: White House projects record deficit for 2009 [atl_tony]
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The democrats are the party that is going to spend and raise taxes, and increase the size of your government, and manage the economy, let trade go to hell, and can't manage a war, and ...
Woops, wrong year.
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Fleck
Jul 28, 08 16:16
Post #12 of 19 (167 views)
Re: White House projects record deficit for 2009 [ajfranke]
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These are gloomy times for a small government conservative like me.
Art,
In another thread, you were saying that all is good in the U.S.. That somehow, me and many others have been duped by the liberal leaning media, that things are not so good. What changed?
I am no economic wizard, but you don't have to know much about economics to know that running up the size of debt that the U.S. is right now, is not the best thing.
Steve Fleck
steve@nineteenwetsuits.com
http://www.nineteenwetsuits.com
http://stevefleck.blogspot.com
ajfranke
Jul 28, 08 17:51
Post #13 of 19 (143 views)
Re: White House projects record deficit for 2009 [Fleck]
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The well being of a country is not determined by the cash flow of its government.
That is not to say irresponsible government spending isn't a drag on the country and its economy. It is.
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This forum is going to be a place of civil discourse, and those who wish to foment hate and discord are no longer welcome here. -- slowman 11/8/04
Art Franke
tridexter
Jul 28, 08 19:05
Post #14 of 19 (129 views)
Re: White House projects record deficit for 2009 [atl_tony]
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In fairness, the President submits a budget to Congress. The next step is the drafting of a budget resolution. The House and the Senate budget committees both are responsible for drafting budget resolutions. Following the traditional calendar, by early April both committees finalize their drafts and submit it to the respective floors for consideration and adoption.
A budget resolution, which is one form of a concurrent resolution, binds Congress, but is not a law, and so does not require the President's signature. The budget resolution serves as a blueprint for the actual appropriation process, and provides Congress with some control over the appropriations process. No new spending authority, however, is provided until Appropriation bills are enacted.
Once both houses pass the resolution, selected Members of the Senate and the House typically negotiate a conference report to reconcile differences between the House and the Senate versions. The conference report, in order to become binding, must be approved by both the House and Senate. Both the Republican executive branch and the Democrat controlled Congress are part of the process.
So, in words we can all understand: We're screwed.
(assist from Wikipedia).
atl_tony
Jul 29, 08 5:48
Post #15 of 19 (97 views)
Re: White House projects record deficit for 2009 [tridexter]
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I agree.
As an independent I can't stand all the political games. It just seems mind boggling that the political leaders who are responsible for the macro well being of the country would be so firmly entrenched in partisan politics that they would let the country get this far into debt. How hard is don't spend more than you make and save for a rainy day?
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OE Gear
SLOWTWITCH25 for 25% discount
Discount prices on Suunto, High Gear, Brunton and more.
dew66245
Jul 29, 08 6:29
Post #16 of 19 (79 views)
Re: White House projects record deficit for 2009 [atl_tony]
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"I'm shocked to learn there's gambling going on in here"
erichollins
Jul 29, 08 7:25
Post #17 of 19 (65 views)
Re: White House projects record deficit for 2009 [ajfranke]
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I'm a fan of Obama but I rolled my eyes when he mentioned the words "another economic stimulus package" on the news this morning.
--
Patience isn't a virtue. Patience is a waste of my time.
http://trainingoferic.blogspot.com/
ajfranke
Jul 29, 08 7:39
Post #18 of 19 (62 views)
Re: White House projects record deficit for 2009 [erichollins]
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What is really depressing is if such a package were to get rolling, the Republicans in Congress would mostly support it and Bush would likely sign it.
Tom Coburn, please move up the ranks.
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This forum is going to be a place of civil discourse, and those who wish to foment hate and discord are no longer welcome here. -- slowman 11/8/04
Art Franke
MattinSF
Jul 29, 08 8:39
Post #19 of 19 (42 views)
Re: White House projects record deficit for 2009 [ajfranke]
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here's your deficit Art...and when I say I say
your
I mean
your.
http://zfacts.com/p/447.html
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HOPE is a plan that worked. CHANGE is a plan that worked. BELIEVE is a plan that worked.
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