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The deficit is down
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WASHINGTON (Reuters) -- A falling U.S. budget deficit brought some solace Friday to Republicans beset by a Washington sex scandal, violence in Iraq and possible political setbacks in the November congressional elections.
The latest bit of good news came from the nonpartisan Congressional Budget Office, which said the fiscal 2006 budget deficit totaled about $250 billion in fiscal 2006, down from the previous year's $318 billion.
Republicans seized on the lower deficit number - and a jobs report showing the unemployment rate fell to 4.6 percent - at the end of a week dominated by political problems stemming from a Republican ex-congressman's improper contacts with House pages.
Hehe... money.cnn.com...
Folks, compare that to the Truman times when Truman had to cut the deficit and lower the debt by cutting military spending. Bush can do that WITHOUT lowering the expenditures on the military.
For those who don't understand what this means....
This means the GWB has only exceeded the budget that he wrote last year by $250,000,000,000($250 Billion). The budget that he wrote last year allowed for him to spend $1 TRILLION. This means that he actually spent $1.25 Trillion. This article is boasting that the expenditures this year are going to be about $1.25 Trillion rather than last month's estimated $1.26 Trillion. Republicans are actually throwing a party over this.
Now to get on to the real issue, let's look at the national debt. Clinton may have been a lot of things, but he was good with the budget (Writing a budget is half of the job of the President...the other half is as Commander-in-Chief). Clinton in his 8 years in office managed to reduce government spending and nearly balanced the budget. The proof of this can be found at....
www.publicdebt.treas.gov...
This is the government website where you can track our debt, that is our national debt. If you click the link that shows from 1950-2005, then you can see how each president and congress has been responsible in spending. The years when the debt went up most is when we had a President in office that did not know how to control spending. Years when the debt went up least demonstrates a president that was fiscally responsible.
Carter was responsible for the budgets from December 1977 to Sept 1981. He increased our debt from $719 Billion to $1.029 Trillion, a TOTAL of $320 Billion in 4 years.
Reagan -- Dec 1981 to Sept 1989 Increased debt a TOTAL of $1.828 Trillion in 8 years.
Bush Sr -- Sept 1989 to Sept 1993 Increased debt a TOTAL of $1.554 Trillion in 4 years.
Clinton -- Sept 1993 to Sept 2001. Increased debt a TOTAL of $1.396 Trillion in 8 years.
Bush Jr -- Sept 2001 until present. Increased debt a TOTAL of $2.700 Trillion in 5 years.
As of Oct 5th our national debt is at $8,545,048,487,560.99 ($8.545 Trillion).
These are numbers that we, the American People, must pay back someway or another. This currently amounts to about $70,000 for each and every taxpaying American in this country. This is $70,000 on your Uncle Sam MasterCard that accrues interest and must be paid back someday. There is no bankruptcy to be filed on this. To file bankruptcy is to basically say that every dollar in your pocket or bank account is only worth the paper it is printed on.
This administration has increased our national debt by nearly 50% in it's first 5 years and is on track to nearly double it by the time it is through. That is your and my debt that they are increasing and profiting from.
What is more....the Republican controlled House and Senate have approved every penny that this Administration has budgeted. They have not vetoed a single spending bill presented by Bush in 5 years.
It's your money. You decide when you've had enough charges on your Uncle Sam MasterCard.
It's my money too, but that is why I'm making this post. I'm voting to make a change. How about you?
.
This means the GWB has only exceeded the budget that he wrote last year by $250,000,000,000($250 Billion). The budget that he wrote last year allowed for him to spend $1 TRILLION. This means that he actually spent $1.25 Trillion. This article is boasting that the expenditures this year are going to be about $1.25 Trillion rather than last month's estimated $1.26 Trillion. Republicans are actually throwing a party over this.
Now to get on to the real issue, let's look at the national debt. Clinton may have been a lot of things, but he was good with the budget (Writing a budget is half of the job of the President...the other half is as Commander-in-Chief). Clinton in his 8 years in office managed to reduce government spending and nearly balanced the budget. The proof of this can be found at....
www.publicdebt.treas.gov...
This is the government website where you can track our debt, that is our national debt. If you click the link that shows from 1950-2005, then you can see how each president and congress has been responsible in spending. The years when the debt went up most is when we had a President in office that did not know how to control spending. Years when the debt went up least demonstrates a president that was fiscally responsible.
Carter was responsible for the budgets from December 1977 to Sept 1981. He increased our debt from $719 Billion to $1.029 Trillion, a TOTAL of $320 Billion in 4 years.
Reagan -- Dec 1981 to Sept 1989 Increased debt a TOTAL of $1.828 Trillion in 8 years.
Bush Sr -- Sept 1989 to Sept 1993 Increased debt a TOTAL of $1.554 Trillion in 4 years.
Clinton -- Sept 1993 to Sept 2001. Increased debt a TOTAL of $1.396 Trillion in 8 years.
Bush Jr -- Sept 2001 until present. Increased debt a TOTAL of $2.700 Trillion in 5 years.
As of Oct 5th our national debt is at $8,545,048,487,560.99 ($8.545 Trillion).
These are numbers that we, the American People, must pay back someway or another. This currently amounts to about $70,000 for each and every taxpaying American in this country. This is $70,000 on your Uncle Sam MasterCard that accrues interest and must be paid back someday. There is no bankruptcy to be filed on this. To file bankruptcy is to basically say that every dollar in your pocket or bank account is only worth the paper it is printed on.
This administration has increased our national debt by nearly 50% in it's first 5 years and is on track to nearly double it by the time it is through. That is your and my debt that they are increasing and profiting from.
What is more....the Republican controlled House and Senate have approved every penny that this Administration has budgeted. They have not vetoed a single spending bill presented by Bush in 5 years.
It's your money. You decide when you've had enough charges on your Uncle Sam MasterCard.
It's my money too, but that is why I'm making this post. I'm voting to make a change. How about you?
.
Many are ignorant of this fact, but the government actually produces two sets of numbers.
One for public consumption, in other words the figures provided, and one not for public consumption.
The second set of numbers is the audited figures and include such things as Social Security liabilities and more.
The debt of the US is not going down, period. With the Medicare Prescription Drug plan we have established neverending future liabilities that stagger the imagination.
One for public consumption, in other words the figures provided, and one not for public consumption.
The second set of numbers is the audited figures and include such things as Social Security liabilities and more.
The debt of the US is not going down, period. With the Medicare Prescription Drug plan we have established neverending future liabilities that stagger the imagination.
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