Budget Deficit Drops to $250 Billion
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From: NH
Budget Deficit Drops to $250 Billion
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{SARCASM} Damn those Bush tax cuts!! {/SARCASM}
A $173 Billion drop over the original forecast. I would say that the Bush tax cuts are doing a great job for the economy. Now if we could cut back on pork barrel and entitlement spending that deficit would be lower.
The federal budget estimate for the fiscal year just completed dropped to $250 billion, congressional estimators said Friday, as the economy continues to fuel impressive tax revenues.
The Congressional Budget Office's latest estimate is $10 billion below CBO predictions issued in August and well below a July White House prediction of $296 billion.
The improving deficit picture _ Bush predicted a $423 billion deficit in his February budget _ has been driven by better-than-expected tax receipts, especially from corporate profits, CBO said.
The Congressional Budget Office's latest estimate is $10 billion below CBO predictions issued in August and well below a July White House prediction of $296 billion.
The improving deficit picture _ Bush predicted a $423 billion deficit in his February budget _ has been driven by better-than-expected tax receipts, especially from corporate profits, CBO said.
A $173 Billion drop over the original forecast. I would say that the Bush tax cuts are doing a great job for the economy. Now if we could cut back on pork barrel and entitlement spending that deficit would be lower.
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I need sleep...
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From: NH
I agree, pork barrel spending has gotten way out of control and President Bush has not used his veto to curb it. Couple that with the entitlement spending that is mandatory and a retiring baby boom generation the deficits will be tougher to control for the next couple of decades. If Democrats raise taxes and increase spending then the deficits will get even more out of control.
lots and lots of fail
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From: Deeeeeeeeeeeeeeetroit
I agree, pork barrel spending has gotten way out of control and President Bush has not used his veto to curb it. Couple that with the entitlement spending that is mandatory and a retiring baby boom generation the deficits will be tougher to control for the next couple of decades. If Democrats raise taxes and increase spending then the deficits will get even more out of control.
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The problem is that Republicans routinely have to let Dems put in pork barrel leg in order to get their legislation passed and and Reps. just put it in their own bills when they know the Dems won't object. I really, really hate Congress. Both parties are to blame, and the president isn't doing shit. But who will? It's really hard to tell.
lots and lots of fail
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From: Deeeeeeeeeeeeeeetroit
lots and lots of fail
Joined: Dec 1999
Posts: 23,004
Likes: 1
From: Deeeeeeeeeeeeeeetroit
I read the other day that before FDR the federal government (sans post office and military) was smaller (by employees) than the 6 largest corporations in America...and after WWII it was larger than the 6 largest corporations combined.