I heard "Lil Bush" say this and I don't see how it's possible! How can the economy be growing, and the deficit be shrinking when we have a huge amount of debt hanging over our heads. Does China really own our house? If so, why is that ok with anyone!!! How can we be the most powerful country in the world when we don't own it??
I'm listening to him speak right now, and as far as Iraq questions, the man is a master of obfuscation! There are no periods in his sentences, it's like he gets lost in the rhetoric and can't find his way out until he just runs out of steam!
To be fair, he has made sense on other topics like Guantanamo, and Transportation tax dollars.
2007-08-09 04:12:26 · 5 answers · asked by Havasoo 4 in Politics & Government ➔ Politics
R8derMike - So we can just ignore that we have this debt because it's not in the budget? It should be in the budget!
2007-08-09 04:20:18 · update #1
regerugged - Sorry I didn't mean to cheat. The other questions were more rhetorical, than questions.
2007-08-09 04:30:47 · update #2
He doesn't calculate the cost of the war in the budget.
All Iraq funding has been through "supplemental funding" designed for emergency, non-forseeable situations. It also has the convenient effect of not showing up on future deficit calculations.
Add to this the fact that Bush is doing what all recent presidents have done, which is count the annual social security surplus as regular revenue.
Finally, it's important to remember that there was NO deficit when Bush took office. After all, "deficit" merely refers to a single year's budget shortfall. There is still an enormous (and rising) national debt. In fact, the interest we pay every year on this conservative debt (created almost entirely under Republican presidents) is about four times what we pay for all "welfare" programs.
2007-08-09 04:15:17 · answer #1 · answered by Steve 6 · 3⤊ 2⤋
You are cheating. You are supposed to ask one question and get 5 points deducted.
The deficit means Congress is spending more than the government is taking in, in taxes. When the economy does well, the total dollar amount of taxes increase. With more money coming in than ever before, it is possible to reduce the deficit if Congress can control themselves on spending...which ain't likely.
The deficit and national debt are two different things.
China owns a lot of paper issued by the US. A safe full of paper is not much good unless you do something with it. The only way China can keep from losing big time on their investments is buy goods and services from the US.
2007-08-09 11:24:38 · answer #2 · answered by regerugged 7 · 0⤊ 0⤋
Because Tax revenue is growing.
How can deficit shrik while we have the debt ? The debt is the total of each years deficit added together.
Does China own our house. Nope, China only owns 321 billion in US Treasury Bonds. Far less than most people assume..
Who owns US Debt:
US government - 3.5 trillion dollars
US Citizens - 2.8 trillion dollars
Foreign interest - 2 trillion dollars
Actually Britian has been the leading purchaser of US Treasury Bonds lately.
In last 6 months Britian has bought 83 billion, while China has only bought 15 billion in US Treasury Bonds.
2007-08-09 11:38:56 · answer #3 · answered by jeeper_peeper321 7 · 1⤊ 0⤋
Simple- Since Bill Clinton signed the 1993 free trade agreement with China that has cost us over 300 billion and over a million jobs.
2007-08-09 11:22:03 · answer #4 · answered by $1,539,684,631,121 Clinton Debt 6 · 0⤊ 1⤋
The war in Iraq is not included in his budget.
Edit:
Hey, I agree with you.
I am not to big on "fuzzy math" either.
2007-08-09 11:16:18 · answer #5 · answered by R8derMike 6 · 1⤊ 1⤋