US deficit is shrinking, for now

[ylexot]

Despite the ongoing costs of US military campaigns in Iraq and Afghanistan, the outlook for the federal budget has grown substantially brighter.

Tax revenues are rising much faster than spending, according to Treasury Department numbers released last week. The recent trend is strong enough that, were it to continue, the budget could move into surplus in barely a year, one economist calculates.

Damn you George W. Bush!

 

[huntr1]

It's all Bush's fault!!!!!!!!

No, wait! This is just a resurgence of the Clinton Economy, never fear, GWB will mess it up somehow since he's an evil Republican.

 

[PsyOps]

Just when Bush starts getting control over it the dems take over.

Crap!!!!!!!!!!!!!!!

 

[vraiblonde]

Tax revenues are rising much faster than spending, according to Treasury Department numbers released last week. The recent trend is strong enough that, were it to continue, the budget could move into surplus in barely a year, one economist calculates.

Trickle-down works, baby!

Okay, so this explains why the libby media was making a big terrible deal out of people spending money and not tucking into their mattresses for safekeeping. People spending money = sales tax revenues + higher employment = more income tax collected = lower deficit = looks good for Bush.

I could be a friggin' economist.

I actually had a conversation the other day with a guy who insisted that rich people do not spend their money and put it back into the economy. I said, "What do you think they do with it? Stick it in a mattress?" He replied (basically), "Yes!"

 

[PsyOps]

Trust me, this is all soon going to come to an end. There are new spenders in town with BIG spending ideas.

 

[huntr1]

Trickle-down works, baby!

Okay, so this explains why the libby media was making a big terrible deal out of people spending money and not tucking into their mattresses for safekeeping. People spending money = sales tax revenues + higher employment = more income tax collected = lower deficit = looks good for Bush.

I could be a friggin' economist.

I actually had a conversation the other day with a guy who insisted that rich people do not spend their money and put it back into the economy. I said, "What do you think they do with it? Stick it in a mattress?" He replied (basically), "Yes!"

So it's all poor people riding around in limos and Rolls', buying $1000 jeans and $6,000,000 houses?

 

[Lugnut]

So it's all poor people riding around in limos and Rolls', buying $1000 jeans and $6,000,000 houses?

:shrug: Welfare pays good these days...

 

[hvp05]

Trust me, this is all soon going to come to an end. There are new spenders in town with BIG spending ideas.

Ah, but they will be doing something positive by not blowing away anymore money in Iraq.

 

[SerenitStables]

Let's see... We have Ms. Nancy Pelosi wanting a new "bigger plane" obviously size does matter...

We have the new leadership who wants better oversight of the FDA's food packing plant inspections "Read Big Government" Yada Yada Yada... The good news won't last for long.....

As far as not spending money on the war.... Gee... Let's just cut off all the support for the troops over there so we can have more money to throw at democratic designs... "Read socialism". Yeah that would go over good...

 

[forestal]

Yeh, well the trend looked pretty good during the latter Clinton years (when we actually DID have a surplus), and look what Bush did: tax cuts, tax cuts, and more tax cuts. What did that give us? Deficits, deficits, deficits. Any balanced budget we see will be the result of a Democratic congress and Republican White House keeping each other in check.

Hoping an upward trend lasts depends on Cutting and Running from Iraq, and getting rid of the tax cuts set to expire soon.. Those are two things that Bush will never let happen.

Despite the ongoing costs of US military campaigns in Iraq and Afghanistan, the outlook for the federal budget has grown substantially brighter. Damn you George W. Bush!