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Bush raves about the deficit, only $300 billion this year!!





diverden
WASHINGTON (CNN) -- President Bush hailed new budget figures released this morning that shows the deficit is $127 billion less than what he predicted earlier this year.

Bush credited the revised number to his economic policies including tax cuts, efforts to rein in federal spending as well as his pro-growth policies.

"This good news is no accident," he said in a short speech from the White House. "It is the result of the hard work of the American people and sound policies in Washington, D.C."

Is he nuts? He thinks this is good news, really in touch with people who have to work for a living!

If our policy is to stay the course, give tax cuts to the wealthiest 2% so it will trickle down to the working class, and damn the oil prices as long as the oil companies are making money for political contributions, then we seem to be headed in the wrong direction.

This debt clock is maintained by Ed Hall (edhall@brillig.com). It was last calibrated using information obtained from the U.S. Department of the Treasury dated 7 July 2006. Population figures are derived from the U.S. Bureau of the Census' Population Clock.

The Outstanding Public Debt as of 12 Jul 2006 at 12:10:24 AM GMT is:
$ 8 , 4 1 7 , 8 2 7 , 0 1 2 , 5 4 7 . 1 4

The estimated population of the United States is 299,084,213
so each citizen's share of this debt is $28,145.34.

The National Debt has continued to increase an average of
$1.71 billion per day since September 30, 2005! Obviously the tax cuts and the jobs that have been created for people in the services industry are really helping the economy.


Morning Edition, March 16, 2006 · Faced with a potential government shutdown, the Senate votes to raise the nation's debt limit for the fourth time in five years. The bill passed by a 52-48 vote, increasing the ceiling to $9 trillion. President Bush will sign the bill later this week.

The debt now stands at more than $8.2 trillion.

Like many cash-strapped Americans who have maxed-out credit cards, the federal government has hit its limit for borrowing funds to keep operating. If the limit isn't raised, the government likely will run out of borrowing authority within days, risking a shutdown.

When President Bush took office five years ago, the national debt was at $5.6 trillion; since then, big budget surpluses have collapsed into huge deficits, and the debt has shot up nearly 50 percent.

(CBS/AP) WASHINGTON, Nov. 19, 2004 President Bush signed legislation on Friday raising the government's debt limit by $800 billion and clearing the way for Congress to send him an overdue $388 billion spending bill to finance most federal agencies.

The new federal borrowing cap is $8.18 trillion; that's 70 percent the size of the entire U.S. economy, and more than $2.4 trillion higher than the debt Mr. Bush inherited upon taking office in 2001.

WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.
crdowner
It costs money to fund a war. Do not get me wrong, I am not saying that Mr. Bush has done a good job. I also admit that I do not know enough about recent policies to really say what has happened in the way of tax breaks. I definitely understand your point about oil companies getting rich. I do not believe for a minute that the cost or demand for oil has gone up enough to account for the change in prices. The oil companies say the "profits" are being used for research and development. Who really knows. I think the world and especially the US needs to aggressively pursue other options for fuel. We use a huge percentage of the world's gas. With China beginning to consume large amounts, demand is only going to get higher.

On somewhat of a related topic, I think until the US does something about skyrocketing CEO salaries, prices across the board are only going to get higher. It is ridiculous for a CEO to make hundred times more than his employees. I think we need some kind of cap. For example, a CEO can only make 100 times more than the lowest paid employee. That should include bonuses and options. Companies can not pay such salaries without passing the cost on to its customers.

Sorry for rambling.
S3nd K3ys
diverden wrote:
WASHINGTON (CNN) -- President Bush hailed new budget figures released this morning that shows the deficit is $127 billion less than what he predicted earlier this year.

Bush credited the revised number to his economic policies including tax cuts, efforts to rein in federal spending as well as his pro-growth policies.

"This good news is no accident," he said in a short speech from the White House. "It is the result of the hard work of the American people and sound policies in Washington, D.C."

Is he nuts? He thinks this is good news, really in touch with people who have to work for a living!

If our policy is to stay the course, give tax cuts to the wealthiest 2% so it will trickle down to the working class, and damn the oil prices as long as the oil companies are making money for political contributions, then we seem to be headed in the wrong direction.

This debt clock is maintained by Ed Hall (edhall@brillig.com). It was last calibrated using information obtained from the U.S. Department of the Treasury dated 7 July 2006. Population figures are derived from the U.S. Bureau of the Census' Population Clock.

The Outstanding Public Debt as of 12 Jul 2006 at 12:10:24 AM GMT is:
$ 8 , 4 1 7 , 8 2 7 , 0 1 2 , 5 4 7 . 1 4

The estimated population of the United States is 299,084,213
so each citizen's share of this debt is $28,145.34.

The National Debt has continued to increase an average of
$1.71 billion per day since September 30, 2005! Obviously the tax cuts and the jobs that have been created for people in the services industry are really helping the economy.


Morning Edition, March 16, 2006 · Faced with a potential government shutdown, the Senate votes to raise the nation's debt limit for the fourth time in five years. The bill passed by a 52-48 vote, increasing the ceiling to $9 trillion. President Bush will sign the bill later this week.

The debt now stands at more than $8.2 trillion.

Like many cash-strapped Americans who have maxed-out credit cards, the federal government has hit its limit for borrowing funds to keep operating. If the limit isn't raised, the government likely will run out of borrowing authority within days, risking a shutdown.

When President Bush took office five years ago, the national debt was at $5.6 trillion; since then, big budget surpluses have collapsed into huge deficits, and the debt has shot up nearly 50 percent.

(CBS/AP) WASHINGTON, Nov. 19, 2004 President Bush signed legislation on Friday raising the government's debt limit by $800 billion and clearing the way for Congress to send him an overdue $388 billion spending bill to finance most federal agencies.

The new federal borrowing cap is $8.18 trillion; that's 70 percent the size of the entire U.S. economy, and more than $2.4 trillion higher than the debt Mr. Bush inherited upon taking office in 2001.

WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.


1) You should know by now you need to use quote tags.

2) You should know by now you need to use sources.

3) You should know by now the US economy is the strongest, most admired economy in the world.

4) You should know by now the US has one of the lowest unemployment rates we've had in a LONG time.

5) You should know by now the US should, by all rights, be in a depression after the catastrophies and terror attack, but we're not. Wink
horseatingweeds
When will people understand? National dept isn’t like a person and their credit card. It is part of economic cycles.

As for CEO salaries, the reason they make so much is because they supposedly know what they are doing and if they don’t they get canned quick. For example, if you had a company with an annual revenue of 10 billion and you hire a new CEO that increases it by 1/2% and stops some waste and inefficiency, assuming the company is already profitable, there is at least 50 million in profit. How much is that CEO worth now?
S3nd K3ys
Quote:
The estimated population of the United States is 299,084,213
so each citizen's share of this debt is $28,145.34.


LoL! I missed that the first time around..

1) I spend half that much each year on gas, alcohol and smoke! Laughing Laughing Laughing

2) Add up the 12-20 million illegals (who we know damn well won't pay their fair share), and it's even funnier.

lyndonray
I don't think I have come across anyone with such as a distaste for illegals as much as you KEYS. I bet if you could have it your way each one of them would be nuked!!!

but to the matter at hand, I think the Shrub, oops, Bush Administration (my bad!) has reached the point where any news that is not very very very bad news is good news. When 300 billion in debt is something to be proud of, that's when we know we have a real problem! The situation is worrisome because America is living way beyond its means and eventually that is going to catch up with it.
horseatingweeds
lyndonray,

What do you think money is?
schudder
S3nd K3ys wrote:

3) You should know by now the US economy is the strongest, most admired economy in the world.

5) You should know by now the US should, by all rights, be in a depression after the catastrophies and terror attack, but we're not. Wink


3) You're kidding me right? Most admired economy? Seriously? Every time the US presents its budget, it's mentioned on the news here and almost made fun of. And it's not nearly as strong as you might believe.

5) Oh, you're not in a real depression yet, but you've come really really close several times over the past years and I'm pretty sure it's all going to go to hell within the next year or so.
horseatingweeds
schudder,

Your so wrong. What do YOU think money is?
Soulfire
Um, yes it is good if it's $127 billion better than we thought it would be. Duh? Brick wall
James007
No quote tags? Close.
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