Why is no one cheering the falling deficit?

[Zander]

The deficit was falling very well under Bush. Then the financial crisis hit. Spending went through the roof! It should have lasted one year- to paper over the emergency.
But it didn't. Democrats refused to pass a budget and now - 5 years later the deficit is still WAY higher than it was in 2008.

That's how Democrats manage a "crisis" - they make it permanent.....

 

[OKTexas]

They are still borrowing a trillion plus per year, let me know when they include all government spending the numbers and it's still going down, I might be impressed. The CBO only includes numbers they are told to include.

 

[Darkwind]

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..

Has the deficit been reduced due to spending cuts or an additional fleecing of Americans?

I'd cheer the former, while decrying the latter.

 

[C_Clayton_Jones]

Why is no one cheering the falling deficit?

For those on the partisan right, it’s because it’s happening during a democratic administration.

 

[Luddly Neddite]

Some still don't know the difference between the deficit and the debt.

... sigh ...

 

[Darkwind]

Why is no one cheering the falling deficit?

For those on the partisan right, it’s because it’s happening during a democratic administration.

Nope. Nice try though.


Reducing the deficit by spending cuts is desirable and a good thing, I don't really care who is in office.

Reducing the deficit by fleecing Americans is NOT desirable and I would decry it as bad policy and practice.

 

[Luddly Neddite]

 

[elektra]

Why is no one cheering the falling deficit?

This is why:

...and rising

U.S. Debt Clock - Worldometers

You figure is wrong, the Debt is

17,372,954,500,100

 

[Luddly Neddite]

 

[Luddly Neddite]

Why is no one cheering the falling deficit?

This is why:

...and rising

U.S. Debt Clock - Worldometers

You figure is wrong, the Debt is

17,372,954,500,100

Some still don't know the difference between the deficit and the debt.



.........................................

 

[The T]

AGAIN? TALK to US about the DEBT, The Unfunded MANDATES?

MORON

 

[Missouri_Mike]

Some still don't know the difference between the deficit and the debt.

... sigh ...

You are obviously at the top of that list.

 

[The T]

This is why:

...and rising

U.S. Debt Clock - Worldometers

You figure is wrong, the Debt is

17,372,954,500,100

Some still don't know the difference between the deficit and the debt.



.........................................

Neither do YOU.

 

[Toro]

Because deficits never come down when taxes are raised.

Duh!

 

[Jughead]

Why is no one cheering the falling deficit?

This is why:

...and rising

U.S. Debt Clock - Worldometers

You figure is wrong, the Debt is

17,372,954,500,100

 

[The T]

Why is no one cheering the falling deficit?

This is why:

...and rising

U.S. Debt Clock - Worldometers

You figure is wrong, the Debt is

17,372,954,500,100

Snapshot...wonder what it is at this instant?

 

[Jughead]

The only real effective way to start getting the national debt to start reversing trend and coming down, is for the government to eliminate the deficit entirely, and actually start having surpluses (like the 307 billion surplus we had in 2000).

 

[Missouri_Mike]

The only real effective way to start getting the national debt to start reversing trend and coming down, is for the government to eliminate the deficit entirely, and actually start having surpluses (like the 307 billion surplus we had in 2000).

Divide that 307 billion by the 17 trillion and climbing debt and how many years to pay this off? Holy shit. We need like 2 trillion in surpluses to pay this off.

 

[Jughead]

Why is no one cheering the falling deficit?

This is why:

...and rising

U.S. Debt Clock - Worldometers

You figure is wrong, the Debt is

17,372,954,500,100

These figures are astounding. In the two hours that elapsed between the two snapshots, we've added roughly 150 million dollars to the national debt.

 

[elektra]

How about 1 second's worth of Debt

US Government Budget Visualized: Tax Revenue & Deficit stacked in $100 bills

US Budget in 1 Second: $121,067
For the year 2011:

The US Government spends $121,067 per second (both portions)
Of the total money shown above, the US Government borrows
$52,162 each second-- the right portion of the money.

The stack of money on the right is also the amount the debt ceiling is increased every second (on average).