It’s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama’s - See more at: htt

[Freewill]

This and the liberals are more worried about Global Warming.

It?s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama?s 1st Term | CNS News


Congressional Budget Office last week released updated historical budget data for the federal government, reporting a deficit of $1.087 trillion in fiscal 2012. 2012 marked the fourth straight year—and the only four years in the history of the nation--when the federal government’s deficit topped $1 trillion. - See more at: It?s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama?s 1st Term | CNS News

 

[Duped]

The debt is the 800lb Gorilla in the closet!

 

[CrusaderFrank]

And the Democrats never passed a single budget

 

[waltky]

More tax revenue comin' in but no reduction in deficit - somebody got dey's hand inna till...

$2,472,542,000,000: Record Taxation Through August; Deficit Still $755B
September 13, 2013 -- The federal government raked in a record of approximately $2,472,542,000,000 in tax revenues through the first eleven months of fiscal 2013, which ran from Oct. 1, 2012 through the end of August, according to the Monthly Treasury Statement for August.

That is up about $285 billion from the approximately $2,187,527,000,000 in taxes the government took in through August of fiscal 2012. Despite these record tax revenues, the federal government still accumulated a $755 billion deficit in the first eleven months of fiscal 2013. Totally federal spending through the first eleven months of the fiscal year was $3.228 trillion.

At the end of last year, the president struck a deal with Republicans in Congress at the to enact legislation that increased taxes. This included pushing the top income tax rate from 35 percent to 39.6 percent, increasing the top tax rate on dividends and capital gains from 15 percent to 20 percent, and phasing out personal exemptions and deductions starting at an annual income level of $250,000. An additional 3.8 percent tax on dividends, interests, capital gains and royalties--that was embedded in the Obamacare law--also took effect this year.

The record of $2,472,542,000,000 in federal tax revenues through August is in non-inflation-adjusted dollars. However, even when adjusted for inflation, the $2,472,542,000,000 brought in through federal taxes in the first eleven months of fiscal 2013 exceeds the real federal tax revenue in any of the last 16 years except for 2007, when federal tax revenues were approximately $2,282,318,000,000 in 2007 dollars and $2,571,309,020,000 in 2013 dollars.

- See more at: $2,472,542,000,000: Record Taxation Through August; Deficit Still $755B | CNS News

 

[Freewill]

More tax revenue comin' in but no reduction in deficit - somebody got dey's hand inna till...

$2,472,542,000,000: Record Taxation Through August; Deficit Still $755B
September 13, 2013 -- The federal government raked in a record of approximately $2,472,542,000,000 in tax revenues through the first eleven months of fiscal 2013, which ran from Oct. 1, 2012 through the end of August, according to the Monthly Treasury Statement for August.

That is up about $285 billion from the approximately $2,187,527,000,000 in taxes the government took in through August of fiscal 2012. Despite these record tax revenues, the federal government still accumulated a $755 billion deficit in the first eleven months of fiscal 2013. Totally federal spending through the first eleven months of the fiscal year was $3.228 trillion.

At the end of last year, the president struck a deal with Republicans in Congress at the to enact legislation that increased taxes. This included pushing the top income tax rate from 35 percent to 39.6 percent, increasing the top tax rate on dividends and capital gains from 15 percent to 20 percent, and phasing out personal exemptions and deductions starting at an annual income level of $250,000. An additional 3.8 percent tax on dividends, interests, capital gains and royalties--that was embedded in the Obamacare law--also took effect this year.

The record of $2,472,542,000,000 in federal tax revenues through August is in non-inflation-adjusted dollars. However, even when adjusted for inflation, the $2,472,542,000,000 brought in through federal taxes in the first eleven months of fiscal 2013 exceeds the real federal tax revenue in any of the last 16 years except for 2007, when federal tax revenues were approximately $2,282,318,000,000 in 2007 dollars and $2,571,309,020,000 in 2013 dollars.

- See more at: $2,472,542,000,000: Record Taxation Through August; Deficit Still $755B | CNS News

This can not be true. There was just a post on this board about how Obama spends less then every Republican President before him.

We hear everyday how the working man and woman, those who actually do pay taxes rich or poor, are not paying enough. But as you have shown there will never be enough. I am getting out of the work force soon so I too can get my share before it is too late and I will get nothing.

 

[eagle1462010]

Hey, wake up people.

This is gonna save us money and will be debt free...............

LOL

CBO: Obamacare to Cost $1.930 Trillion, Leave 30 Million Uninsured | The Weekly Standard

 

[Rozman]

It's never Obama's fault...

 

[zeke]

What did Obama spend all that money on? How did Obama get all those spending bills through Congress?
And isn't it Congress that decides how to spend the money. And votes for that spending? DAMN that Obama is a POWERFUL dude.

 

[NYcarbineer]

This and the liberals are more worried about Global Warming.

It?s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama?s 1st Term | CNS News


Congressional Budget Office last week released updated historical budget data for the federal government, reporting a deficit of $1.087 trillion in fiscal 2012. 2012 marked the fourth straight year—and the only four years in the history of the nation--when the federal government’s deficit topped $1 trillion. - See more at: It?s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama?s 1st Term | CNS News

1.6 trillion of the spending of the last 4 years was interest on the debt.

 

[editec]

This problem started fourty years ago and it only going to get worse until no amount of keynsian spending (or keynesian tax cutting which is merely Keynesian spending by another name) can keep the USD afloat.

BOTH left leaning AND right leaning economy smart people agree on this.

Extra points for anyone who can identify which POTUS made this THEFT BY MONETARY MANIPULATION possible and how they did it.

Does anyone know or I am the only person here who actually gives a fuck about reality economics?

 

[rightwinger]

And the Democrats never passed a single budget

Democrats are authorized to pass a budget?

 

[Redfish]

This and the liberals are more worried about Global Warming.

It?s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama?s 1st Term | CNS News


Congressional Budget Office last week released updated historical budget data for the federal government, reporting a deficit of $1.087 trillion in fiscal 2012. 2012 marked the fourth straight year—and the only four years in the history of the nation--when the federal government’s deficit topped $1 trillion. - See more at: It?s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama?s 1st Term | CNS News

1.6 trillion of the spending of the last 4 years was interest on the debt.

right, and as the debt gets larger the interest payments get larger. you do realize that we are ONLY paying the interest on the debt, nothing on the principal, right?

Do you libs think this can go on forever? Every time congress increases the debt ceiling, the problem gets worse. Why do you dem/libs support increasing the debt ceiling?

 

[Redfish]

And the Democrats never passed a single budget

Democrats are authorized to pass a budget?

The GOP controlled house has passed several budget bills, Reid has not let a single one come to the floor of the senate for debate or a vote-----------dems control the senate RW.

So yes, the dems are responsible for the US having no budget for the last 5 years.

 

[Redfish]

What did Obama spend all that money on? How did Obama get all those spending bills through Congress?
And isn't it Congress that decides how to spend the money. And votes for that spending? DAMN that Obama is a POWERFUL dude.

because the dem controlled senate has not allowed a single budget bill to come up for a vote, the govt has been operating on CR's (continuing resolutions) to keep funding flowing to govt agencies. This is not the way to run a business or the government

 

[rightwinger]

And the Democrats never passed a single budget

Democrats are authorized to pass a budget?

The GOP controlled house has passed several budget bills, Reid has not let a single one come to the floor of the senate for debate or a vote-----------dems control the senate RW.

So yes, the dems are responsible for the US having no budget for the last 5 years.

The GOP House passes budgets without any Democratic input that contain poison pills making them dead in the water
Starting your budget with "Repeal Obamacare" is not a workable budget
Reid is under no obligation to consider a budget that is a waste of the Senates time

 

[Redfish]

Democrats are authorized to pass a budget?

The GOP controlled house has passed several budget bills, Reid has not let a single one come to the floor of the senate for debate or a vote-----------dems control the senate RW.

So yes, the dems are responsible for the US having no budget for the last 5 years.

The GOP House passes budgets without any Democratic input that contain poison pills making them dead in the water
Starting your budget with "Repeal Obamacare" is not a workable budget
Reid is under no obligation to consider a budget that is a waste of the Senates time

Bullshit. Thats why they have a conference committee, to work out the differences and come up with a bill that both sides agree on-------its been working that way since 1776.

Why hasn't Reid allowed a vote on any house passed budget? Was he afraid one might pass?

your argument has no merit. A huge senage vote against a house budget bill would be a victory for the dems and obama. But no, Reid has not allowed any votes, why?

 

[Papageorgio]

This problem started fourty years ago and it only going to get worse until no amount of keynsian spending (or keynesian tax cutting which is merely Keynesian spending by another name) can keep the USD afloat.

BOTH left leaning AND right leaning economy smart people agree on this.

Extra points for anyone who can identify which POTUS made this THEFT BY MONETARY MANIPULATION possible and how they did it.

Does anyone know or I am the only person here who actually gives a fuck about reality economics?

That is what I find amusing with people on this board. We have been out of control for economically for over 80 years. Government spending, consumer spending, corporation spending, this country has been living from bubble to bubble.

No control, no limits. Neither party has controlled spending, both parties are to blame, however if the people just blame the other party, then that allows government from ever controlling what they spend.

 

[Redfish]

This problem started fourty years ago and it only going to get worse until no amount of keynsian spending (or keynesian tax cutting which is merely Keynesian spending by another name) can keep the USD afloat.

BOTH left leaning AND right leaning economy smart people agree on this.

Extra points for anyone who can identify which POTUS made this THEFT BY MONETARY MANIPULATION possible and how they did it.

Does anyone know or I am the only person here who actually gives a fuck about reality economics?

That is what I find amusing with people on this board. We have been out of control for economically for over 80 years. Government spending, consumer spending, corporation spending, this country has been living from bubble to bubble.

No control, no limits. Neither party has controlled spending, both parties are to blame, however if the people just blame the other party, then that allows government from ever controlling what they spend.

Yes, historically both parties are to blame. But we are talking in the present. Today the dems are the ones that refuse to address deficits and ever increasing debt, and their only solution is "tax the evil rich", even though they could tax the rich at 100% and it would be a drop in the bucket.

 

[Wildman]

U.S. National Debt Clock : Real Time

check this out !

 

[Redfish]

U.S. National Debt Clock : Real Time

check this out !

all the dem/libs are looking the other way and