Shhh! Don't tell the Democrats! The federal deficit is shrinking...

Discussion in 'Business & Economics' started by OliverJ, Aug 11, 2005.

  1. OliverJ Banned Banned

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    July's federal deficit falls to $52.8 billion
    U.S. revenues up 13.7% so far in 2005; outlays up 6.1%


    By Rex Nutting, MarketWatch
    Last Update: 2:12 PM ET Aug. 10, 2005



    WASHINGTON (MarketWatch) -- The U.S. budget deficit shrank to $52.8 billion in July from $69 billion a year ago, the Treasury Department said Wednesday.


    The federal deficit was about $5 billion less than the $58 billion estimated by the Congressional Budget Office a week ago. Receipts came in $1 billion more than expected, while outlays were $4 billion less than CBO projected.

    Through the first 10 months of the government's fiscal year, the federal deficit has totaled $302.6 billion, $110.3 billion less than at this time in 2004. Read the full report.

    For all of 2005, the CBO currently expects a deficit of less than $350 billion, with the agency scheduled to make public an updated forecast next Monday. The White House forecast a deficit of $333 billion.

    The July deficit was the lowest for the month since 2002. Receipts were $142.1 billion, a record for the month, up about 6% from last July.

    Receipts are up 13.7% in the year to date at $1.75 trillion. Individual income taxes are up 15.1% to $756.1 billion, while corporate income taxes are up 41.7% to $205.9 billion.

    Outlays are up about 6.1% at $2.05 trillion for the year to date.
     
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  3. Baron Max Registered Senior Member

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    Oh, don't worry ....any good news is followed by: "Well, it might be okay now, but just you wait a little while!!!" And any bad news is followed by: "See? Ddin't we tell you it'd happen!?!"

    See? Ya' can't win ...no matter what happens, anyone can "see" the bad if they chose to look. Ditto for the good, I suppose.

    But none of that shit means much to me.

    Baron Max
     
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  5. spidergoat pubic diorama Valued Senior Member

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    It's still not a surplus.
     
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  7. Clockwood You Forgot Poland Registered Senior Member

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    Spidergoat:
    Hey, good news! Your cancer has gone into remission!
    Bah. Who cares. I'm still not cured.
     
  8. Cottontop3000 Death Beckoned Registered Senior Member

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    OliverJ, I'm just curious, but who controls what the CBO spews?
     
  9. TruthSeeker Fancy Virtual Reality Monkey Valued Senior Member

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    There's no surplus, there is just less expenditures, which reduces the rate of expansion of the deficit. You can make it look good, like CBO did...

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    Meanwhile, expenditure in military might be up, while expenditure in better areas like education a health care might be down. Take a look in the US. Is teh ehalth care system worse? Is the educational system worse? Where are the cuts, that creates the illusion of surplus, being made?

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  10. Cottontop3000 Death Beckoned Registered Senior Member

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    Hell, TruthSeeker, it's not even really the illusion of a surplus. It's exactly as OliverJ and the CBO said: it's a reduction in the extremity of the DEFICIT! The deficit is only $52.8 billion. How much is the war in Iraq costing us by the way? OliverJ said: "July's federal deficit falls to $52.8 billion." WTF is this "falls" crap? Just because we were only short $52.8 billion this MONTH instead of the $58 Billion projected by the CBO "one week ago," we are supposed to be HAPPY!!!!!????? WTF REPUBS? At least Clinton could balance his god-damned checkbook. And I don't/didn't like Clinton!! You are deluded or you have an ulterior motvie OliverJ to post this crap. Same thing for the CBO and those who control what they "project."
     
  11. Baron Max Registered Senior Member

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    What's interesting is all of that was repeated somewhat the same during World War I, World War II, the Korean War and Vietnam War, yet .....here we are, still rockin' along fat, dumb, rich and happy. How can you actually argue with that success????

    Baron Max
     
  12. TruthSeeker Fancy Virtual Reality Monkey Valued Senior Member

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    Well, it's very easy to manipulate economics to one's own benefit...

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  13. kmguru Staff Member

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    You mean like creative book keeping the way companies do??? Like if you lost goods on theft, you still can double scan during inventory to show that you made money or will make money and no one is wiser. I know a few retailers do that. One rental company even makes up revenue when none is there by manipulating the data transfer process. The auditors would not know...they are not programmers...I wonder if same thing goes on in the government too???
     
  14. TruthSeeker Fancy Virtual Reality Monkey Valued Senior Member

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    Well, I suppose this kind of manipulation is fairly common, if it is that easy (or at least you make it sound easy)...

    I was talking about making something sound good...
     
  15. kmguru Staff Member

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    11,757
    Some are easy...some are not...but when there is a will (or need)...like Enron, Worldcom...for every one that gets caught, hundred get away...

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  16. Cottontop3000 Death Beckoned Registered Senior Member

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    True. So god-damned mother-fucking true!
     
  17. Baron Max Registered Senior Member

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    Do you have any facts or evidence to back up that allegation? Or is it just an idle accusation without any justification?

    Baron Max
     
  18. Cottontop3000 Death Beckoned Registered Senior Member

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    How can we get the proof, mofo, when the "Cheney's" of the world keep so many god-damned mother-fucking secrets? Give me the minutes of "Cheney's" meetings with big oil execs., when He was formulating our "Energy Policy," and I'll give you a god-damned mother-fucking mouthful. Are you on the "inside" track? Can you get me the minutes of this meeting? Please?!
     
  19. kmguru Staff Member

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    11,757
    Since I know a few what they did, and I have signed confidential non-disclosure agreement, you cough up at least 50 million dollars, (so that when they sue me, I will be ready) I will tell you how and where to find the proof from their books.

    But some are hard to prove. Such as, if you accuse the retailer for counting inventory wrong, they will say, Oh! it is that manager that did that, we did not tell him, where is the memo? Some employees could vouche for it, but will be afraid to...then you have to prove, it is company wide.

    It is like saying there is no proof that most people go over sevety miles an hour on interstate roads, from just a few speeding tickets. We know the truth, don't we?
     
  20. Cottontop3000 Death Beckoned Registered Senior Member

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    Yes, we know the truth. I call it the "pussification" of America. People like the Baron. Afraid to admit when they are so god-damned wrong, for fear of being wrong.
     
  21. Baron Max Registered Senior Member

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    No, absolutely not! We ONLY know that those who were caught did over seventy miles per hour ......we still don't know anything about "most people", do we?

    One of the sad things about "freedom" is how we feel so free with our incessant and unfounded accusations of wrong-doing. Practically our entire nation is founded on the laws of the land and the fact that we're innocent until proven guilty of any crime .......YET we're the first ones to feel righteous and elitist by making those unfounded accusations! Sad, very, very sad.

    You can't sign any legal agreement to put yourself above the law! If you know of a crime and don't report it, you're guilty of conspiracy to commit that crime and are as guilty of the crime as those who are doing it.

    Baron Max
     
  22. kmguru Staff Member

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    11,757
    So, how many times you have reported people passing you over 70 miles an hour to the highway patrol or any law enforcement agency? California has a right to work law and yet, people have to sign employment contracts everyday. Microsoft is suing someguy that went to work for Google.

    What planet are you living on? Rather than trying to kill the messenger, why don't you investigate? Or, is that your genetic trait? Do you know how many local, state, federal laws are in the books in just USA alone, not to mention International laws that we also have to abide by?

    By the way, I did not say, I know of a "Crime".


    Just because you are ignorant, please do not add us to that group. There is no need to reply to my post. I can not match your hyper intellect.
     
  23. TruthSeeker Fancy Virtual Reality Monkey Valued Senior Member

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