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Originally posted by mattguy404
Conservatives prefer a free market solution to almost everything. If that is the case, why is the US government lending billions upon billions to juggernaut lenders - that seems like some drastic tampering with the free market if I ever did see one.
Why, one could call it 'socialized' banking.
Originally posted by TheInformer
Thank you President Bush for the flourishing economy and low deficit.
Factors behind the deficit increase include the cost of the war in Iraq and problems in the housing market that prompted a wider economic slowdown.
WASHINGTON -- The U.S. government's budget deficit nearly tripled in July from a year earlier, pushed in part by aftershocks from failed financial institutions.
The Treasury Department on Tuesday said the government ran a monthly deficit of $102.77 billion in July, up 182% from $36.45 billion in July 2007.
Originally posted by mattguy404
Originally posted by TheInformer
Thank you President Bush for the flourishing economy and low deficit.
US budget deficit soars to $US103b
news.theage.com.au...
US budget deficit to reach $440b
www.abc.net.au...
U.S. Budget Deficit Hit $102.77 Billion in July
WASHINGTON -- The U.S. government's budget deficit nearly tripled in July from a year earlier, pushed in part by aftershocks from failed financial institutions.
The Treasury Department on Tuesday said the government ran a monthly deficit of $102.77 billion in July, up 182% from $36.45 billion in July 2007.
online.wsj.com...
...eh?
1. Pay Down the Federal Debt
With the advent of surpluses, the United States has begun to make real progress in paying down its debt. During 1998–2000, debt held by the public fell from $3.8 trillion to $3.4 trillion—a $363 billion drop. By the end of this year, more than $200 billion in additional reduction is due to be achieved.
The President's plan will accelerate this trend to record rates by retiring an historic $2 trillion in debt over the next 10 years. Under the President's budget, the national debt will be only seven percent of Gross Domestic Product (GDP) in 2011, its lowest share in more than 80 years. (See Chart 1–1.)
Originally posted by Cool Hand Luke
Source
Originally posted by mattguy404
Well, I wouldn't have used the White House's own figures to prove a point - that seems a tad biased.
GDP is just one way of measuring a country's economy, and it can be used to prove almost anything a government wants.
GDP doesn't measure the sustainability of growth - growth has obviously been slowing in the US.
If everything was as peachy as the GDP indicates, why on earth is there the stimulus package?
Are you saying that the three separate sources I've used are liberal biased media?
If so, I would imagine that using the White House's own figures are biased as well.
Originally posted by mattguy404
Yes, thanks George. Thanks for being on my favourite 'pull my finger' t shirt. Thanks for all the golden moments where you could hardly form a sentence and have given us all a great laugh while we thought "hey, this guy is the most powerful person on the planet..."
But most of all... Thanks for keeping the oil flowing and highly profitable! We could not have done it without having almost 100,000 people killed in bloody violence and having millions of people displaced from Iraq.
Not to mention the 4,000 or so young Americans that have been sacrificed in the process.
But hey, I guess that's where having been an oil boss and having almost everyone on your team coming from an oil background helps.
[edit on 13-8-2008 by mattguy404]
Originally posted by ~Lucidity
i'm typically not this rude, and you're certainly entitled to your opinion based on your frame of reference, experience, education, and general observational and analytical powers. but to be perfectly honest, my visceral reaction to this was to throw up a little in my mouth.