As reported by Andrew Taylor of the AP, the just completed federal budget estimate for the fiscal year dropped to $250 billion, congressional estimators said , as the economy continues to fuel impressive tax revenues.
This is well below a July White House prediction of $296 billion.
Bush predicted a $423 billion deficit in his February budget. The improving deficit picture has been driven by better-than-expected tax receipts, especially from corporate profits, Congressional Budget Office said.
This is good news!!! Why do I keep hearing from liberals that the economy is in the tank? Bush tax cuts are working. Face the truth liberals.
2006-10-06 11:00:51 · 6 answers · asked by babe 2 in Politics & Government ➔ Politics
this is very good and surprising news.
BUT, the defict needs to be zero. So I won't celebrate too soon.
2006-10-06 11:02:21 · answer #1 · answered by Villain 6 · 0⤊ 0⤋
A deficit is still a deficit. If someone went out to kill 100 people and only killed 10, would that be a good thing, too?
A $296 billion deficit for 1 year is greater than the total deficits from 1960-1975 - the entire time period of the Viet Nam War. And we are supposed to feel good about this?
From 9/30/2000 through 9/30/2005, BushCo has added a total of $2,258,531,451,837 to the federal debt. We should be happy he's only adding another $296 billion?
Of couse, these "good deficits" do not include the cost for the Iraq War, which is "off budget".
2006-10-06 18:09:16 · answer #2 · answered by john_stolworthy 6 · 1⤊ 0⤋
The reason is because the best experts say these numbers are temporary and they expect the deficit to rise to even higher record levels in the near future. The other reason is because we shouldn't be happy about a $250 Billion deficit. Until 2002 we had 4 straight years of surplus, in the few short years after we went to around $400 Billion. For President Bush a $250 Billion deficit may be good, but we shouldn't be cheering about it. As it is pointed out in that article that $250 Billion deficit is still one of the largest in the History of our Country.
2006-10-06 18:10:29 · answer #3 · answered by Alex 3 · 0⤊ 0⤋
And why are the corps making so much more profit? Who is getting the short end of the stick?
2006-10-06 18:06:01 · answer #4 · answered by notme 5 · 1⤊ 0⤋
hey, what happened to Clinton's surplus?!\
BTW, it is easier to take, if you over estimate, and then have some good news come out just in time for the elections...
Are we allowed to criticize the Iraq war, since it is not working? Please email me a list of things I am allowed to talk about.
2006-10-06 18:07:12 · answer #5 · answered by hichefheidi 6 · 1⤊ 0⤋
thank you---depends on which spread sheet they wanna show
2006-10-06 18:06:36 · answer #6 · answered by phyllis_neel 5 · 0⤊ 0⤋