i'm fine with saying that the iraq and afghan wars were not in the regular budget process for the Defense budget but were added as supplemental spending.Do not include war spending? that lie still going around
lets look at the numbers
United States Department of Defense - Wikipedia, the free encyclopedia
$548.8 billion 2007 total
Much of the costs of the Iraq war and the Afghanistan war until FY2008 have been funded through supplemental appropriations or emergency supplemental appropriations, which are treated differently than regular appropriations bills. Senior congressional leaders have contended that those war costs, as much as possible, should go through the regular budget process, which provides for greater transparency. Determining the costs of the wars in Iraq and Afghanistan is complex. CBO has estimated that "war-related defense activities" in 2007 were "roughly $115 billion." (CBO, The Budget and Economic Outlook: An Update, August 2007, Box 1-1, available at <http://www.cbo.gov/ftpdoc.cfm?index=8565&type=0>) See Below for total defense spending.
2007 United States federal budget - Wikipedia, the free encyclopedia
Now one can assume different reasons why GWB did this. Defending this country is a constitutional mandate
Well fare is not
same year we spent $294.0 billion in well fare and UE (UE is funded and have a bigger issue with it being put with well fare)
thats our deficit X 2 for the year
Ue is funded by employers in 2007....it was not until 2009 that the money collected from employers ran out...you are showing what was spent on UE in 2007 JR but you are not including what the employers gave the federal gvt to pay for it.
National debt added in 2007 was $554 billion
beginning National Debt 09/29/2006 8,506,973,899,215.23
ending National Debt 10/01/2007 9,062,552,400,356.63
Debt to the Penny (Daily History Search Application)
your defict says 161 billion for 2007 on your link yet we added $550 BILLION to the National Debt.
PLEASE EXPLAIN THAT!
How do we grade a presidents policy if you look at total debt vs budget deficits?
It took 2.73 trillion to run our country in 2007, we took in 2.57 for the year. That is all that congress and the president for that year can control, for the year that is what it took to run the federal govt
Debt
The United States public debt is the money borrowed by the federal government of the United States at any one time through the issue of securities by the Treasury and other federal government agencies. The US national public debt consists of two components:
Debt held by the public comprises securities held by investors outside the federal government, including that held by investors, the Federal Reserve System and foreign, state and local governments.[1]
Intragovernment debt comprises Treasury securities held in accounts administered by the federal government, such as the Social Security Trust Fund.
Public debt increases or decreases as a result of the annual unified budget deficit or surplus. The federal government budget deficit or surplus is the cash difference between government receipts and spending, ignoring intra-governmental transfers. However, there is certain spending (supplemental appropriations) that add to the debt but are excluded from the deficit. The deficit is presented on a cash rather than an accruals basis, although the accrual basis may provide more information on the longer-term implications of the government's annual operations.[2]
The public debt has increased by over $500 billion each year since fiscal year (FY) 2003, with increases of $1 trillion in FY2008, $1.9 trillion in FY2009, and $1.7 trillion in FY2010.[3] As of October 22, 2011, the gross debt was $14.94 trillion, of which $10.20 trillion was held by the public and $4.74 trillion was intragovernmental holdings.[4] The annual gross domestic product (GDP) to the end of June 2011 was $15.003 trillion (July 29, 2011 estimate),[5] with total public debt outstanding at a ratio of 99.6% of GDP, and debt held by the public at 68% of GDP.
In the United States, there continues to be disagreement between Democrats and Republicans regarding the United States debt. On August 2, 2011, President Barack Obama signed into law the Budget Control Act of 2011, averting a possible financial default. During June 2011, the Congressional Budget Office called for "...large and rapid policy changes to put the nation on a sustainable fiscal course."[6]
United States public debt - Wikipedia, the free encyclopedia
from the Washington post
UPDATE: Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers above. Also, some Obama defenders are claiming the graphic above represents biased Heritage Foundation numbers. While we stand behind the numbers we put out 100%, the numbers, and the graphic itself, above are from the Washington Post. We originally left out the link to WaPo. It has now been added.
The Truth about Obama's Budget Deficits, in Pictures
what i have a problem with is the 550 trillion added to the national debt that year.....
yet the budget deficit SAYS it was only $161 billion and you guys acting like this is something great......... the Bush Budget for 2007 collected nearly 350 billion in social security surplus money that helped that budget look so GOOOOOOD, but in reality, this money was spent and borrowed in the budget process bringing our national debt higher and higher.....
I agree that under Obama, deficits/national debt has gotten worse....but I do not give the bush administration any kind of pass or applause for what they did, during the good economic times of this country....adding over $6 trillion to our national debt, is NOT something to praise or defend.....imho.
Your deficit numbers DO NOT TELL the whole picture, and you know it...especially now that you have posted what the national debt really is....you should know it.
the federal gvt did not spend only 2.7 trillion to run our country in 2007
they spent 3.25 trillion in 2007 when you add what had to be borrowed to run our gvt.....