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you are flat out effing nuts....seriously....
Clinton left Bush a $250 billion SURPLUS
Bush left Obama a $1.4 trillion DEFICIT
Thanks a lot ....
And yet Obama would absolutely relish and hint of an economy as good as Bush's. He's just that incompetent.
Though the economy is growing steadily, Americans are being hampered by weak pay, higher taxes and tepid hiring. Sluggish overseas economies are also slowing sales for U.S. retailers. It's a picture the Federal Reserve will weigh in deciding whether to scale back its bond purchases as soon as next month.
Seems you are finally getting to understand the wreckage Bush and the Republicans left our country in.
Only "steady" recovery is possible from this wreckage - there is no quick fix for the damage Bush and Republicans did to the economy.
Cisco has had a problem for 15 years - I think they are the next Research In Motion.
In this strong, recovering economy, there are 1,000 strong performers to every Cisco.
Home building, Auto, and retail sales are off the charts!
stop being a sheep- think for yourself, just once a month? try???
the monies assigned to be spent and the forecast of revenue, equal deficit spending if the out is bigger than the in...get that?
the assigned monies scheduled to go out the door, IF they don't, OR we take in more than was forecast, the deficit only 'goes down' in that we didn't spend the 1 trillion forecast.....right now, the deficit, IF the assigned $$ is spent and we are hit par on collections, is $759 from 1 trillion...read asterism's post again, very slowly.....verrrrry slowly.....
Falling like a stone?
FY 2014*: $744 billion
FY 2013*: $973 billion
FY 2012: $1,087 billion
FY 2011: $1,300 billion
FY 2010: $1,294 billion
FY 2009: $1,413 billion
FY 2008: $458 billion
FY 2007: $161 billion
US Federal Deficit Definition - plus charts and analysis
A 50% reduction from what Bush and Republicans handed Obama, is certainly "dropping like a rock"
But those who created the $1.4 trillion debacle are convinced they could reduce it much faster.
Of course .....
Reminds me of all the German generals who advised us how we could run over the Soviet Union after WWII.
you are flat out effing nuts....seriously....
Clinton left Bush a $250 billion SURPLUS
Bush left Obama a $1.4 trillion DEFICIT
Thanks a lot ....
That surplus under Clinton had negative consequences for the private sector. It resulted in the the first recession of the 21st century. The surplus caused the domestic private sector to accrue more indebtedness to finance consumption which created instability in the private sector.
Liberals ended the Republican recession in the U.S.
And Liberals ended the Conservative recession in Europe.
Thankfully ....
Though the economy is growing steadily, Americans are being hampered by weak pay, higher taxes and tepid hiring. Sluggish overseas economies are also slowing sales for U.S. retailers. It's a picture the Federal Reserve will weigh in deciding whether to scale back its bond purchases as soon as next month.
Seems you are finally getting to understand the wreckage Bush and the Republicans left our country in.
Only "steady" recovery is possible from this wreckage - there is no quick fix for the damage Bush and Republicans did to the economy.
Clinton left Bush a $250 billion SURPLUS
Bush left Obama a $1.4 trillion DEFICIT
Thanks a lot ....
That surplus under Clinton had negative consequences for the private sector. It resulted in the the first recession of the 21st century. The surplus caused the domestic private sector to accrue more indebtedness to finance consumption which created instability in the private sector.
Where did you get THAT right wing pearl of wisdom?
Deficit is going down.
Catch up.
stop being a sheep- think for yourself, just once a month? try???
the monies assigned to be spent and the forecast of revenue, equal deficit spending if the out is bigger than the in...get that?
the assigned monies scheduled to go out the door, IF they don't, OR we take in more than was forecast, the deficit only 'goes down' in that we didn't spend the 1 trillion forecast.....right now, the deficit, IF the assigned $$ is spent and we are hit par on collections, is $759 from 1 trillion...read asterism's post again, very slowly.....verrrrry slowly.....
Read what?
The OP is correct no matter how you slice it. Deficit is going down, and fast.
Faster than if Simpson/Bowles was implemented.
And you guys are STILL BITCHING.
Gotta love it.
Obvious HACK is Obvious.
meanwhile, back in reality....
August 16, 2013, 10:09 AM
Economists cut their expectations for 2013 U.S. economic growth but lifted hiring forecasts for the rest of the year, according to a survey of forecasts released Friday.
The third-quarter survey of 41 forecasters done by the Federal Reserve Bank of Philadelphia shows the consensus view on gross domestic product expects growth of 1.5% for all of this year, down significantly from 2.0% expected when the survey was last done in May.
and lets remember these are the same blokes who this time last year, forecast 2.7% for q4 of 2012, it came in at- .1...thats POINT 1% as in one tenth......
q1 2013?- 1.8% downgraded by a full third to 1.3%.....q2 2013?- 1.7%....
Clinton left Bush a $250 billion SURPLUS
Bush left Obama a $1.4 trillion DEFICIT
Thanks a lot ....
And yet Obama would absolutely relish and hint of an economy as good as Bush's. He's just that incompetent.
Well maybe he should do what Bush did. Drop interest rates to zero and start 2 wars..
Oh wait.
A third round of quantitative easing, QE3, was announced on 13 September 2012. In an 111 vote, the Federal Reserve decided to launch a new $40 billion per month, open-ended bond purchasing program of agency mortgage-backed securities. Additionally, the Federal Open Market Committee (FOMC) announced that it would likely maintain the federal funds rate near zero "at least through 2015."[44][45] According to NASDAQ.com, this is effectively a stimulus program that allows the Federal Reserve to relieve $40 billion per month of commercial housing market debt risk.[46] Because of its open-ended nature, QE3 has earned the popular nickname of "QE-Infinity."[47] On 12 December 2012, the FOMC announced an increase in the amount of open-ended purchases from $40 billion to $85 billion per month.
On June 19, 2013, Ben Bernanke announced a "tapering" of some of its QE policies contingent upon continued positive economic data. Specifically, he said that the Fed would scale back its bond purchases from $85 billion to $65 billion a month during the upcoming September 2013 policy meeting.[49] He also suggested that the bond buying program could wrap up by mid-2014.[50] While Bernanke did not announce an interest rate hike, he suggested that if inflation follows a 2% target rate and unemployment decreases to 6.5%, the Fed would likely start raising rates. The stock markets dropped approximately 4.3% over the three trading days following Bernanke's announcement, with the Dow Jones dropping 659 points between June 19 and 24, closing at 14,660 at the end of the day on June 24
Bartending and waiting jobs PT are not indicators of a strong economy. Means tons of unemployed people scraping together money to go eat and drown in their sorrows.
meanwhile, back in reality....
August 16, 2013, 10:09 AM
Economists cut their expectations for 2013 U.S. economic growth but lifted hiring forecasts for the rest of the year, according to a survey of forecasts released Friday.
The third-quarter survey of 41 forecasters done by the Federal Reserve Bank of Philadelphia shows the consensus view on gross domestic product expects growth of 1.5% for all of this year, down significantly from 2.0% expected when the survey was last done in May.
and lets remember these are the same blokes who this time last year, forecast 2.7% for q4 of 2012, it came in at- .1...thats POINT 1% as in one tenth......
q1 2013?- 1.8% downgraded by a full third to 1.3%.....q2 2013?- 1.7%....
OK, a few points here. The Philly Fed survey is of econometric forecasting firms, not individual economists. In another string a poster made some snide remarks about economists in ivory towers who are not accountable for their "ideas". If you don't think forecasting firms live and die by their track records, I have a bridge you should be interested in.
Back in the early sixties an econometrician promulgated Fiedler's Four Rules of Forecasting:
1. It's very difficult to predict, especially the future.
2. Every time you make a prediction, you know you are wrong. You just don't know in which direction.
3. He who lives by the crystal ball learns to eat ground glass.
4. If you ever hit it on the button, never let them forget it!
Quarter-by-quarter forecasting is incredibly volatile and often wrong, but it's the best that can be done with the state of the art. They really try to get it right, and if anybody can do it better I am sure they will gain market share fast.
A large part of the problem is that there are lags between when things happen and when we find out they happen. This was most painfully apparent in early 2009 when the economy was tanking far faster than anyone thought even possible. The whole "with stimulus the unemployment rate will top out at only 8%" debacle was the result. Forecasters have to guess what is happening that they don't even know about and assume that players are going to do what they traditionally have done in similar circumstances. If you were a forecaster today, would you assume that the debt ceiling will be raised or not? It makes a difference. Fiedler's crystal ball seems like good imagery.
So don't read too much into these results and certainly don't bet the farm on them.
What's gonna happen when that stops?
Bartending and waiting jobs PT are not indicators of a strong economy. Means tons of unemployed people scraping together money to go eat and drown in their sorrows.
That surplus under Clinton had negative consequences for the private sector. It resulted in the the first recession of the 21st century. The surplus caused the domestic private sector to accrue more indebtedness to finance consumption which created instability in the private sector.
Where did you get THAT right wing pearl of wisdom?
I got into more detail here:
http://www.usmessageboard.com/economy/308191-krugman-obama-has-deficit-dropping-like-a-rock-but-who-knows-this-4.html#post7694268
