... when the Congressional Budget Office says it won't be erased until around 2012, and only if the Bush tax cut's expire in 2010? Are those tin foil hats amplifying the Faux and hate radio spin?
http://www.iht.com/articles/2007/01/25/business/deficit.php
2007-03-08 07:39:25 · 15 answers · asked by Anonymous in Politics & Government ➔ Politics
I really haven't heard anyone suggest that the deficit would be erased next year. I have heard people say that the deficit would be reduced. Our government needs to get a handle on spending or we are going to be in lot of trouble in twenty or thirty years, when we start having to pay off all this debt.
Note on this topic: The terms deficit and debt are commonly confused. Argle looks like he has a good handle on them to just to make sure everyone is well informed. Budget deficit or national deficit refers to the amount that our government is spending over the amount collected in taxes in a given year. Deficit is how much we charge on the country's credit card and don't pay off in a year. National debt is the total amount of money we owe as a nation.
2007-03-08 07:54:22 · answer #1 · answered by msi_cord 7 · 1⤊ 0⤋
The real downside to that article you linked to is the fact that increased tax revenue is expected from bigger corporate taxes and capital gains from stock sales. It would have been great news if there was an unexpected increase in personal income tax revenue.
The fact that corporate income is on the rise and personal income is not is a major problem.
And, only people who believe in voodoo economics could think the deficit would disappear next year. I don't know what conservatives you are refering to, but I certainly don't believe that.
2007-03-08 15:57:16 · answer #2 · answered by .... . .-.. .-.. --- 4 · 0⤊ 0⤋
The Congressional Budget Office under the Leadership of the Tax n Spend Democrats? What the heck else did you expect from that bunch? The whole thing that the loopy left can't seem to squeeze into their little pea-sized brains is that by cutting taxes, the tax revenue was increased. It's been proven to work. The bozos on the left get their way and the economy will take a nose-dive and we'll be smack in the middle of a recession and they'll be scratching their heads wondering what happened. Stupid libs should not be allowed to govern.
2007-03-08 15:48:06 · answer #3 · answered by Anonymous · 3⤊ 3⤋
In theory, any time a budget is signed it could be put into balance. In reality, there are way too many issues to list. For us to put the budget into balance next year would mean eliminating almost all government spending OR national defense. Neither are a very good idea.
2007-03-08 15:48:53 · answer #4 · answered by mykll42 2 · 0⤊ 1⤋
The Cons will never admit when they are wrong.
The Bush Administration's impact on our economy has been devastating. Whereas Clinton was able to wipe-out the deficit and incur a surplus of funds; Bush has forced us into hundreds of billions of dollars into the red.
Are Cons so delusional as to believe that erasing the deficit will quickly occur without increasing taxes?
2007-03-08 15:53:58 · answer #5 · answered by MenifeeManiac 7 · 0⤊ 5⤋
What would convicts care about the budget? YOU'RE a top contributor? How telling.
2007-03-08 15:44:58 · answer #6 · answered by Anonymous · 2⤊ 0⤋
deficits have been forever and the economy keeps rolling along!!
2007-03-08 15:51:36 · answer #7 · answered by Anonymous · 3⤊ 0⤋
did you say "Congressional Budget Office" ...
Yes, you did. There's a credible source.
2007-03-08 15:43:33 · answer #8 · answered by Anonymous · 5⤊ 2⤋
they live in a make believe world.
2007-03-08 16:04:48 · answer #9 · answered by Anonymous · 0⤊ 0⤋
wishful thinking
2007-03-08 15:46:16 · answer #10 · answered by sydb1967 6 · 2⤊ 2⤋