Due to Bush's superior leadership, Deficit Falls to Lowest Level in 4 Years - Mercedes-Benz Forum

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post #1 of 97 (permalink) Old 01-14-2007, 08:09 AM Thread Starter
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Due to Bush's superior leadership, Deficit Falls to Lowest Level in 4 Years

Deficit Falls to Lowest Level in 4 Years

Jan 12 2:33 PM US/Eastern

WASHINGTON (AP) -- The federal deficit has improved significantly in the first three months of the new budget year, helped by a continued surge in tax revenues.

In its monthly budget report, the Treasury Department said Friday that the deficit from October through December totaled $80.4 billion, the smallest imbalance for the first three months of a budget year since The budget year ends Sept. 30.
Tax collections are running 8.2 percent higher than a year ago while government spending is up by just 0.7 percent from a year ago. Last year's spending totals were boosted by significant payments to help the victims of the Gulf Coast hurricanes.
The Treasury said for December, the government actually ran a surplus of $44.5 billion, the largest surplus ever recorded in December and a gain that reflected a big jump in quarterly corporate tax payments.
The $80.4 billion deficit for the first three months of the current budget year was down 32.6 percent from the imbalance for the same period a year ago of $119.4 billion.
For the year, analysts are still forecasting that the deficit will worsen from last year's total of $248.2 billion, which had been the lowest in four years.
The Congressional Budget Office is forecasting that the deficit for the 2007 budget year will rise to $286 billion, an increase of 15.2 percent from last year, but that figure could be lowered when the CBO releases its revised estimate later this month.
The Bush administration is currently even more pessimistic, predicting a deficit for 2007 of $339.2 billion, but that figure will also be revised when the administration releases its new budget request to Congress on Feb. 5.
Bush, who took office while the country was running record surpluses, saw the deficit hit an all-time high in dollar terms of $413 billion in 2004.
President Bush has said his new budget will outline a path to eliminate the deficit completely by 2012. For the first three months of the current budget year, revenues total $573.5 billion, an increase of 8.2 percent from tax collections in the same period a year ago. Outlays totaled $653.9 billion, up 0.7 percent from a year ago.

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post #2 of 97 (permalink) Old 01-14-2007, 08:15 AM
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post #3 of 97 (permalink) Old 01-14-2007, 09:01 AM
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mr. bush plans to completely eliminate the deficit by 2012.
can you say horseshit?
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post #4 of 97 (permalink) Old 01-14-2007, 09:30 AM
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post #5 of 97 (permalink) Old 01-14-2007, 09:43 AM
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No-no-no-no-no-no-no-no-no-no-no-no!!

The deficit has dropped since the Democrats took over Congress.

Jeez, you guys!

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post #6 of 97 (permalink) Old 01-14-2007, 09:44 AM
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If you do not like it, don't click on it. Simple stuff.
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post #7 of 97 (permalink) Old 01-14-2007, 10:10 AM
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How much was the deficit when Bush took office?

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #8 of 97 (permalink) Old 01-14-2007, 10:17 AM
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How much was the deficit when Bush took office?
From memory he managed to turn a record surplus into one of the largest deficts. However, when asked in 2000 if there would ever be a reason for the country to go into debt he stated only in even of: War, economic downturn or a national crisis. Seems like during his two terms you've had all three.
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post #9 of 97 (permalink) Old 01-14-2007, 10:20 AM
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What is the price tag to not have arab terrorist blowing things up in
this great country of the United States of America?
Be it money or human life.

Obsession

Last edited by guage; 01-14-2007 at 10:48 AM.
post #10 of 97 (permalink) Old 01-14-2007, 10:48 AM
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The price tag should be decent leadership and the application of common sense, not invasion, occupation, and nation building.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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