U.S. will cut deficit by 50% by 2013

[GeezerMan]

It's gonna be OK. Looks like the U.S. will cut the deficit in half, by 2013. Wow, that's great.
I'm sure it will happen...

"Advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016," G-20 leaders said in a communique following the two-day summit."



http://online.wsj.com/article/BT-CO-20100627-704321.html

 

[Siddhartha]

Right now I am more concerned about deflation and the economy going into a 1930's type depression.

 

[Genx87]

Yeah it is a nice little trick. 5-7x the deficit then cut that in half. Kind of like having a store double their prices then give you 30% off.

 

[GeezerMan]

Smoke and mirrors, Cash for Clunkers II, Home Buyer Tax Credit II, will save the day....We no longer need job creation in small businesses, we will have Stimulus II if needed.

 

[nageov3t]

and Guantanamo Bay will be closed by the end of Obama's first year in office.

 

[RedCOMET]

I call Shens!

 

[Patranus]

So Obama triples it and then cuts it in half.

LOL.

 

[khon]

So Obama triples it and then cuts it in half.

LOL.

You need to work on your math, or maybe just your civics knowledge.

Obamas first budget is FY2010 which isn't over yet. But if you want to go by projections it will have a deficit slightly larger than FY2009, maybe 10% or so. A 10% increase is not a tripling ....

 

[pcgeek11]

It's gonna be OK. Looks like the U.S. will cut the deficit in half, by 2013. Wow, that's great.
I'm sure it will happen...

"Advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016," G-20 leaders said in a communique following the two-day summit."



http://online.wsj.com/article/BT-CO-20100627-704321.html

Sure it will. I mean Obama has kept all the other promises so far ....... Oh wait, never mind.

Not going to happen unless we throw out the trash in November.

 

[Patranus]

You need to work on your math, or maybe just your civics knowledge.

Obamas first budget is FY2010 which isn't over yet. But if you want to go by projections it will have a deficit slightly larger than FY2009, maybe 10% or so. A 10% increase is not a tripling ....

-500 Billion to -1.5 trillion.
Ya, it didn't triple.

 

[nick1985]

Thanks for the laugh!

 

[Moonbeam]

If he wants to half the deficite by 2013, the Republicans will try to block it.

 

[spidey07]

I'm confused. At first Obama was defending stimulus as a means to combat this "crisis" just a few days ago, telling Europe that cutting debt is the wrong way to go. Then he totally changes course?

 

[nick1985]

If he wants to half the deficite by 2013, the Republicans will try to block it.

LOL...I hope you dont really think he does. I know you are fucking batshit crazy, but you cant really be fucking retarded batshit crazy.

 

[rudder]

You need to work on your math, or maybe just your civics knowledge.

Obamas first budget is FY2010 which isn't over yet. But if you want to go by projections it will have a deficit slightly larger than FY2009, maybe 10% or so. A 10% increase is not a tripling ....

Do you work for the obama administration?

 

[drebo]

He's not going to cut spending. He's going to introduce a 20% VAT while at the same time doubling income tax rates on those who make between $75k and $150k, cause they make enough already. Then he's going to give a tax break to anyone who makes more than $1m because he's got to keep his cronies happy.

To a democrat, reducing the deficit means hiking up taxes, not cutting spending. He's got to find a way to raise a trillion dollars...he'll just take it from the middle class.

 

[heyheybooboo]

I don't have anything to add to this Circle Jerk --- other than ...

-500 Billion to -1.5 trillion.
Ya, it didn't triple.

In the last year of the Bush Presidency, Federal debt increased $1.44 trillion according to the U S Treasury Department


Oh, and if anyone is interested in actual information from a budget document last Summer ...

--

 

[theeedude]

I hope it's shens, otherwise, Great Depression 2.0 here we come.

 

[Jaskalas]

It's gonna be OK. Looks like the U.S. will cut the deficit in half, by 2013. Wow, that's great.
I'm sure it will happen...

2013 is a long ways away. Lots of reasons to spend between now and then. Particularly given economic and welfare excuses. OTOH, I'm sure we'll slash the military in half by 2013... if we ever pull out of foreign nations.

 

[Patranus]

In the last year of the Bush Presidency, Federal debt increased $1.44 trillion according to the U S Treasury Department

I thought we were talking about the budget deficit.

 

[piasabird]

I dont think this is possible. They might cut the budget by that much but it will take a real effort to cut the deficeit.

Hope you like higher taxes???

So tell Tarp to repay the money, so we can send that money to China to pay off the loan!

Even Bush cut back on the military. Him and Cheney went with a leaner meaner Military. There is not much left to cut back on. Half or our military is all NG and Resrve troops. We cant even defend the southern border of the USA without using National Guard troops (NG).

If we did away with some of the Income Tax exemptions maybe more people would actually pay some taxes.

 

[rudder]

I don't have anything to add to this Circle Jerk --- other than ...



In the last year of the Bush Presidency, Federal debt increased $1.44 trillion according to the U S Treasury Department


Oh, and if anyone is interested in actual information from a budget document last Summer ...

Deleted for brevity.

--

Yes it was Dubya's fault for signing the bill.... which came out of a congress controlled by the democrats.

 

[Munky]

I hope it's shens, otherwise, Great Depression 2.0 here we come.

I don't see how the federal "spend and pretend" policy is averting a second depression. In fact, they're hiding the facts that we're already in a depression, and are only setting us up for an even bigger crash. The economic bubble we were used to living in is unsustainable, only idiocy would try to sustain and stabilize that which is unstable and unsustainable.

 

[Jaskalas]

I don't see how the federal "spend and pretend" policy is averting a second depression. In fact, they're hiding the facts that we're already in a depression, and are only setting us up for an even bigger crash. The economic bubble we were used to living in is unsustainable, only idiocy would try to sustain and stabilize that which is unstable and unsustainable.

They wish to prolong it as much as humanly possible.

 

[SlowSpyder]

I don't have anything to add to this Circle Jerk --- other than ...



In the last year of the Bush Presidency, Federal debt increased $1.44 trillion according to the U S Treasury Department


Oh, and if anyone is interested in actual information from a budget document last Summer ...


--

I thought this was a good link: http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

I have no idea how objective they are, but the numbers tell a story...