Thread: Deficit/ Debt

Hi Gang,

When I was standing in line at Starbucks waiting to order my Grande mocha with no whip
I glanced down and started to read the front page of the NY Times.

There was an article with a pic of "W" and Shotgun Dick with a headline that read:

Budget Office Forecasts Drop in U.S. Deficit


So I went home to see if I could find the article. And here it is:

http://www.nytimes.com/2007/01/25/wa...er&oref=slogin

Originally Posted by Alphamystic

Hi Gang,

When I was standing in line at Starbucks waiting to order my Grande mocha with no whip
I glanced down and started to read the front page of the NY Times.

There was an article with a pic of "W" and Shotgun Dick with a headline that read:

Budget Office Forecasts Drop in U.S. Deficit


So I went home to see if I could find the article. And here it is:

http://www.nytimes.com/2007/01/25/wa...er&oref=slogin

Didn't he mention eliminating the deficit in 5 years (or something like that) in his speech a couple of days ago?

Originally Posted by Vipor

Didn't he mention eliminating the deficit in 5 years (or something like that) in his speech a couple of days ago?

I don't know. I didn't get to see it and haven't looked to read it yet. I find it very interesting that he says he can eliminate a 4 Trillion plus deficit in only 5 years.

Originally Posted by Alphamystic

I don't know. I didn't get to see it and haven't looked to read it yet. I find it very interesting that he says he can eliminate a 4 Trillion plus deficit in only 5 years.

I am hoping that he can do it in a week.....

Originally Posted by Alphamystic

I don't know. I didn't get to see it and haven't looked to read it yet. I find it very interesting that he says he can eliminate a 4 Trillion plus deficit in only 5 years.

funny what a little ole 1:1 reval could do for you...and your polictical party

Originally Posted by Alphamystic

I don't know. I didn't get to see it and haven't looked to read it yet. I find it very interesting that he says he can eliminate a 4 Trillion plus deficit in only 5 years.

I think it's awesome that there's the possibility of having the deficit eliminated, however, and according to the article, it will come at the expense of eliminating tax cuts that have already been allowed. In any way you want to look at it, the elimination of a tax cut is equivalent to a tax increase, and on its face is detrimental.

Originally Posted by boomcreek

I think it's awesome that there's the possibility of having the deficit eliminated, however, and according to the article, it will come at the expense of eliminating tax cuts that have already been allowed. In any way you want to look at it, the elimination of a tax cut is equivalent to a tax increase, and on its face is detrimental.

I hope this isn't the capital gains tax cut! - then all currency conversions would be taxed at 35% in the US instead of the 15% if held over one year.

Originally Posted by Pegasus

I hope this isn't the capital gains tax cut! - then all currency conversions would be taxed at 35% in the US instead of the 15% if held over one year.

If so, maybe its a good thing for our country if the ultimate goal is for the IQD to help eliminate national debt. Then when everyone cashes in the country can take a piece of that aswell and help eliminate the debt even more.

Originally Posted by Alphamystic

Hi Gang,

When I was standing in line at Starbucks waiting to order my Grande mocha with no whip
I glanced down and started to read the front page of the NY Times.

There was an article with a pic of "W" and Shotgun Dick with a headline that read:

Budget Office Forecasts Drop in U.S. Deficit


So I went home to see if I could find the article. And here it is:

http://www.nytimes.com/2007/01/25/wa...er&oref=slogin

GOOD EYE!!!

ALSO LETS NOT FORGET THE CRATES OF IRAQ DINAR ARE SITTING IN THE U.S. VAULTS!! BUSH WILL CASH IN THAT DINAR JUST TO HAVE A BALANCE BUDGET BEFORE HE LEAVES OFFICE - HE DOESN'T WANT THAT ON HIS RECORDER THAT HE TRASH OUR ECONOMY!

Originally Posted by Alphamystic

I don't know. I didn't get to see it and haven't looked to read it yet. I find it very interesting that he says he can eliminate a 4 Trillion plus deficit in only 5 years.

I am not an American so I may not know your national economic position properly. However, I believe we need to differentiate between deficit and debt. Deficits refer to the annual deficiencies of revenues as compared with expenditures whereas debt is the total indebtedness that exists. I would be inclined to believe that 4 trillion USD would be your debt. I don't know what your current annual deficit is.
In Canada the debt of the country is less than 500 000 000.00 CAD and we have been having annual surpluses of 10-30 billion CAD.
As a Canadian I do applaud G. W. for his resolve in the face of an 'all out' left wing media assault. I see him generally doing the right thing because it is the right thing to do. Our current prime minister is cast in the same mold, a very welcome relief from years political management of our predecessor government.