Why is no one cheering the falling deficit?

[Sallow]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

 

[deltex1]

It's supposed to rise?

 

[The T]

When the DEBT, and UNFUNDED MANDATES start dropping? YOU let us know?

OP? Yer an idiot partisan.

 

[ScienceRocks]

On the backs of infrastructure, science and r&d development. Free shit and the inefficacy haven't exactly been fixed.

The right in this country are dumber then dog shit.

 

[Jughead]

Why is no one cheering the falling deficit?

This is why:

...and rising

U.S. Debt Clock - Worldometers

 

[Mac1958]

.

A falling deficit is always good news, always.

We obviously still have a mess on our hands and we need clear budgets and tax policy going forward, we need to create far clearer fiscal priorities to make better sense of the ramifications of a falling deficit, but this is one helluva lot better than the alternative. We take what we can get.

.

 

[Missouri_Mike]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

Because most of us are smart enough to know that reducing the deficit still adds to the debt.

We've been trying to teach the rest of you this simple mathematical concept but apparently to no avail.

 

[Dont Taz Me Bro]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

Rather than being stuck at 8 percent of GDP, the Congressional Budget Office is now projecting the deficit to fall to 2.8 percent of GDP this year, or $492 billion. That's down 32 percent from last year and next year, the shortfall is projected to shrink further, to $469 billion. The CBO is, however, forecasting a return to trillion-dollar annual deficits by 2022.

There goes that "big spending" argument..

How so? You think spending $4 trillion a year is small potatoes? What's being done about all the unfunded mandates that are going to start catching up with us over the next decade?

 

[Meister]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

Just wait until the interest rates rise from the federal reserve, Sal.

 

[Rozman]

Why is no one cheering the falling deficit?

This is why:

...and rising

U.S. Debt Clock - Worldometers

When this number starts dropping big time then I will have a better feeling about things.

 

[The T]

Oppies..

Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.

It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.

Read More › CBO estimates lower deficits as health subsidies fall

The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.

And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.

Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:


"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts … The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.


Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!

There goes that "big spending" argument..

Just wait until the interest rates rise from the federal reserve, Sal.

And wait until Wall Street gets a wiff of that...

 

[Missouri_Mike]

Oppies..

There goes that "big spending" argument..

Just wait until the interest rates rise from the federal reserve, Sal.

And wait until Wall Street gets a wiff of that...

That will be some good times right there. The Great Depression will look like a blip on the radar.

 

[The T]

Just wait until the interest rates rise from the federal reserve, Sal.

And wait until Wall Street gets a wiff of that...

That will be some good times right there. The Great Depression will look like a blip on the radar.

Indeed...the sheep...sleep...for now...NOT a question of IF...but WHEN...

 

[Rozman]

We are paying billions evey month just to cover the interest payments on the debt.
What will happen if / when the interest rate goes up..

 

[JimH52]

The GOP does not want anyone to know that. They love the deficit. The larger, the better for the challenged GOP.

 

[pvsi]

Oppies..
Why is no one cheering the falling deficit?

If this is about Obama, then it's probably because people are busy cheering his peace prize achievements in places such as Syria, Libya, Afghanistan, Ukraine, Turkey, Egypt etc.

 

[norwegen]

When the deficit is as low as it was in FY2008, the last full year of the Bush Administration, we'll take note. When the government is actually spending less than it is taking in, then we'll cheer.

 

[Missouri_Mike]

The GOP does not want anyone to know that. They love the deficit. The larger, the better for the challenged GOP.

And another left wing idiot that doesn't understand the deference between a budget deficit and our debt.

For fuck sakes please get at least a basic understanding of the correct terminology and their correlating accounting mathematics before you post again. Only then can we have a decent discussion on the facts we face and the cause and effect of both the deficit and the debt on our economy and the well being of the country.

 

[Moonglow]

Oppies..
Why is no one cheering the falling deficit?

If this is about Obama, then it's probably because people are busy cheering his peace prize achievements in places such as Syria, Libya, Afghanistan, Ukraine, Turkey, Egypt etc.

Yes we all know those places always have yearned for peace...

 

[Sallow]

The GOP does not want anyone to know that. They love the deficit. The larger, the better for the challenged GOP.

Along with the debt?


The deficit goes skyward when a Conservative is in the white house.