2006-10-07 14:10:34 · 24 answers · asked by Anonymous in Politics & Government ➔ Politics
We evidently cut 50 billion from our 300 billion dollar deficit.
How can the first answerer say Democrat? We have a Republican Administration and a Republican Congress. It is all on them.
Incidental, the cost of the war is not in the budget. That is beyond the stated deficit.
For the people that are answering without understanding:
Deficit = this years revenue shortfall (300 billion)
Debt = aggregate debt from years of deficits (8.5 trillion)
Bush says his tax cuts will cut the deficit in half by 2010. That means the debt will grow more slowly. He has never indicated that his tax cuts will balance the budget (budget with 0 deficit or a surplus)
The answer is more democrats. Clinton balanced the budget. People that refer to tax and spend Democrats should adopt the phrase borrow and spend Republicans.
For Andrew D:
Treasury bonds are debt instruments like any other bond. When they mature the government must pay the holder the face value of the bond or default (bankruptcy). If China sells their bonds, the US government must still pay whoever they sell them to. The danger is if world markets stop buying Treasury instruments, our government will have to pay higher interest to attract buyers. That causes the national debt to grow faster.
2006-10-07 14:14:14 · answer #1 · answered by imnogeniusbutt 4 · 3⤊ 1⤋
Our government and it's self proclaimed leader have spent so much of our money in the Middle East that it's enough to give every citizen in this country, over 18 yrs. old, One Million Dollars. That's correct, we would all have a new car paid for, and a comfortable home free & clear! Now that's living. Your tax dollars are being spent on not 12, but 13 U.S. Air Bases, in Iraq alone Camp Anaconda is located about 26 miles S.W. of Bagdad. It is 14 miles square and it's landing and take off traffic makes it the 2nd busiest airport in the world! It also has movie theatres, bowling allys, in door swimming pools, boutique shops, restaurants, shopping centers and more ! It has accomidations for 40,000 visiting contractors, sub contractors, etc. in addition to it's military installations. . Anaconda is just one of the 13, that's how we got here. That's why things are still going to get alot worse, and the US credit card has been overdrawn for quite some time now! Ya Hoo!
2006-10-07 21:43:12 · answer #2 · answered by Anonymous · 1⤊ 0⤋
So little as that?
The answer is: look around you. When Americans come to the realization that buying cheap Chinese trinkets and foreign cars has made them a nation dependent on other people's goods, and put their next-door neighbours out of work for it, then it may change. But not until.
There's an OLD saying in business - and it's true: 'As goes Detroit, so goes the nation'. Then again, if you live in Michigan, you already knew that.
2006-10-07 21:22:27 · answer #3 · answered by DBG 2 · 1⤊ 1⤋
Spending more than the government makes through taxes. It is ludicrous to cut taxes, while spending 2 billion per week on the Iraq war, buying (importing) more than we sell (exporting), and then having an economy that isn't generating more taxes through new jobs, businesses, etc.
2006-10-07 21:19:22 · answer #4 · answered by greg j. 6 · 1⤊ 0⤋
tax cuts for the rich + war=250 billion deficit. We should throw up another star on the flag and call Iraq our 51st state, or they could replace Louisiana, cuz Lord knows Iraq got more money than my peeps in Nawlins
2006-10-07 21:15:02 · answer #5 · answered by Mike Honcho 5 · 2⤊ 1⤋
I know this may sound shocking but the US is fighting two wars in the middle east and it actually cost hunderds of billions of dollars to fight them. Oh and 9/11 cost us about $500 billion.
But since China buys hundreds of billion of dollars in Treasury bonds the US isn't really $250 Billion in the hole. However, if China were to pull all their money out of Treasury bonds we'd be screwed.
2006-10-07 21:16:45 · answer #6 · answered by Anonymous · 1⤊ 2⤋
9-11 destroyed the economy. We were in the beginnings of a recession at the end of Clinton's second term because stocks of tech companies were way overvalued and needed to correct.
It does not help the situation that Republicans spend like liberals.
2006-10-07 21:20:18 · answer #7 · answered by Chainsaw 6 · 0⤊ 1⤋
#1) A Texas-retardo stole the presidential election in 2000 and 2004!
#2 A Texas-retardo stole the presidential election in 2000 and 2004!
AND...here's the final answer...
#3 A Texas-retardo stole the presidential election in 2000 and 2004!
2006-10-07 21:27:47 · answer #8 · answered by Anonymous · 2⤊ 1⤋
Spending more money than we bring in.. The budget last year was almost 3900 billion dollars btw..
2006-10-07 21:12:52 · answer #9 · answered by Black Sabbath 6 · 4⤊ 0⤋
Previous administrations. Thank God Bush has the deficit dropping.
2006-10-07 21:15:38 · answer #10 · answered by Anonymous · 0⤊ 3⤋