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U.S. deficit down in first half 2010: report

Discussion in 'Free Speech Alley' started by LSUMASTERMIND, Apr 13, 2010.

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LSUMASTERMIND Founding Member

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U.S. deficit down in first half 2010: report - Yahoo! News

The U.S. federal budget deficit in the first half of fiscal 2010 is down 8 percent from the same period a year ago, the Washington Post reported on Monday.
Citing senior Obama administration officials, the Washington Post said in an article posted on its website the smaller deficit was due to higher tax revenue and lower than projected spending to bail out the financial system.
The newspaper said if the trend continued for the rest of the year it would mean the annual deficit would be $1.3 trillion -- about $300 billion less than the administration's projection two months ago for 2010.
The Treasury earlier released a statement that showed a cumulative $181 billion of money disbursed to stabilize the financial system had been repaid through March, and noted that estimates for the program's final cost were falling.
"While the positive news is welcome, it is premature and irresponsible to be making deficit projections for the fiscal year as a whole," said Kenneth Baer, spokesman for the White House Office of Management and Budget.
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LSUMASTERMIND, Apr 13, 2010

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PURPLE TIGER HOPE is not a strategy!

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If senior administration officials said so and the Washington Post reported it...it must be true. :hihi:

Key wording: "higher tax revenue"

PURPLE TIGER, Apr 13, 2010

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luvdimtigers Founding Member

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Tax revenue goes up when we come out of a recession. That's one of the big reasons that tax revenues went up when Bush and Reagan cut taxes, revenue would have went up anyway, even without the tax cuts. because we were coming out of a recession.

I'm not knocking Reagan's tax cuts, they were a good deal and needed IMO.

Reagan also raised capital gains taxes also, (a lot) because he thought it wouldn't be fair to cut the top rate and let capital gains taxes stay lowl.

luvdimtigers, Apr 13, 2010

#3

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ok awesome geaux

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We're paying for Reagan's short term fixes today.

ok awesome, Apr 13, 2010

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LSUsupaFan Founding Member

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Awesome. Now the deficit is only not quite triple the highest deficit of all time.

LSUsupaFan, Apr 13, 2010

#5
SabanFan The voice of reason

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In other news, the cost of gas is down to $2.73 from $2.74.

SabanFan, Apr 13, 2010

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LSUMASTERMIND Founding Member

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lol, just about what I expected...(you were right Okie)

gotta start somewhere, still not good enough for some people to admit that this is a positive step.

LSUMASTERMIND, Apr 14, 2010

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PURPLE TIGER HOPE is not a strategy!

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Admiting positive steps is not a problem. Claiming positive steps are a result of failed policies is a problem.

I saw a Democratic strategist on a news program claim the stock market rise is a direct reflection of Obama's leadership. When asked about the all-time high reached during the Bush administration the same strategist said there was no direct link to the administration's policies.

Democrites...you have to love them! :hihi:

I guess a person's opinion of Obama is dependent upon what side of the aisle (strike that)...

I guess it's dependent upon what side of the "Redistribution of Wealth" argument you're on. :thumb:

PURPLE TIGER, Apr 14, 2010

#8
Sourdoughman TigerFan of LSU and the Tigerman

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LSUMASTERMIND said: ↑

lol, just about what I expected...(you were right Okie)
Click to expand...

I don't know what Okie has to do with this?
You guys must have something going on behind the scenes.

LSUMASTERMIND said: ↑

gotta start somewhere, still not good enough for some people to admit that this is a positive step.
Click to expand...

I found it positive that you finally posted a link.:insane:
Its a start!

Sourdoughman, Apr 14, 2010

#9
LSUMASTERMIND Founding Member

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SPIN METER: Congress' pork: advocacy or hypocrisy? - Yahoo! News

lets get the bs conservative spin on this one as well.

Plenty of Democrats bring home the bacon with similar vigor, but none has been simultaneously so critical of government spending.
Cochran, while calling Democratic budgets "dangerous," has grabbed more than $2.5 billion in earmarks over the past three years, according to the nonpartisan Taxpayers for Common Sense. That's more than any other member of Congress, Republican or Democrat, and it's almost as much as the $2.8 billion that Mississippi is receiving from President Barack Obama's much-criticized economic stimulus package. Shelby, who is coasting to re-election in November, isn't far behind with about $1 billion over the past three years.

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Thad Cochran republican senator.

Also watch this video.
Yahoo!

LSUMASTERMIND, Apr 14, 2010

#10

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