What do we do with the pending budget surplus

[ProfJohn]

As noted in the FY2007 budget thread that by this time next year we could have a month to month budget surplus. Which means by time election seasons kicks into gear in August and September all the candidates will start talking about how to spend this surplus.

So the question for this thread: What do we do with any surplus?

One thing we can be certain of is that they won?t use it to pay down the debt.

Idea one: Tax cuts for the poor, and only the poor. Increase the personal and dependent deductions and perhaps lower the bottom tax rate. This will cause the poor to pay less in taxes while at the same time having very little effect on the ?rich.?

(Yea I know I am jumping a head by talking about a surplus that isn?t not there yet, but it?s a slow night. Plus I want to see what kind of ideas are floating out there.)

 

[LegendKiller]

There won't be any budget surplus. THe assumption used has GDP at 4% annual, its going at far less than that now and won't reverse itself that quickly. We already address this in another thread.

 

[Stunt]

Budget surplus?
HAHAHAHAHA :laugh:

For starts how bout stashing some money aside for SS which will be in a deficit situation at some point. Maybe pay off some of the debt that was racked up in the last few years. Perhaps invest in nuclear power and other major infrastructure to reduce oil dependence and pollution.

 

[jpeyton]

No bid contracts.

 

[Strk]

I'm not sure what we'll do, but I'm sure the adminstration (whatever one we're on at that point) will do what was done with the last one: kill it.

 

[fskimospy]

Originally posted by: Strk
I'm not sure what we'll do, but I'm sure the adminstration (whatever one we're on at that point) will do what was done with the last one: kill it.

Well in all fairness isn't that what they should be doing with a surplus? In a perfect world they would be perfectly flat even, but if you have extra money at the end of the year and you are a government you should be killing it by either lowering taxes or increasing services.

Surpluses seem unlikely if for no other reason then there is usually a good bit of spending that isn't actually written into the budget (Iraq tends to be hugely underrepresented there). If we do get one though I think we should fund education in some way with it... either cheaper college tuitions or whatever. Education is pretty much the best investment a person/government can ever make. (look at what Ireland's done with it!)

 

[LegendKiller]

Originally posted by: eskimospy

Originally posted by: Strk
I'm not sure what we'll do, but I'm sure the adminstration (whatever one we're on at that point) will do what was done with the last one: kill it.

Well in all fairness isn't that what they should be doing with a surplus? In a perfect world they would be perfectly flat even, but if you have extra money at the end of the year and you are a government you should be killing it by either lowering taxes or increasing services.

Surpluses seem unlikely if for no other reason then there is usually a good bit of spending that isn't actually written into the budget (Iraq tends to be hugely underrepresented there). If we do get one though I think we should fund education in some way with it... either cheaper college tuitions or whatever. Education is pretty much the best investment a person/government can ever make. (look at what Ireland's done with it!)

Yeah, if there's a surplus, why pay back the debt that you have taken out...?

 

[umbrella39]

Originally posted by: LegendKiller
There won't be any budget surplus. We already address this in another thread.

Won't stop him from trying to b$ the P&N faithful. Let him go I say, fun to watch. :laugh:

 

[Jhhnn]

The professor has outdone his own trollish tendencies with this thread...

Might as well ask what to do with the flying pigs when they're old enough to market....

 

[Slew Foot]

Invest in printing presses to print more money for the next helicopter drop economic stimulus package.

 

[StageLeft]

Surplus? LOL, good stuff. Comedy never stops.

 

[Dissipate]

Surplus?? There are trillions in unfunded future liabilities. There is no surplus and won't be as far as I can see.

 

[Jaskalas]

There?s never a surplus, just a failure to spend.

 

[Pabster]

One thing is certain. With Democrats in control, they'll spend like drunken sailors until every penny is spent. And then some.

And yes, I know the last 6 years of Republican control in Congress have not been shining examples of fiscal conservatism.

 

[feralkid]

Originally posted by: Pabster
One thing is certain. With Democrats in control, they'll spend like drunken sailors until every penny is spent. And then some.

And yes, I know the last 6 years of Republican control in Congress have not been shining examples of fiscal conservatism.

Hello?
The Democrats are in power, and guess what? They are not giving GWB a blank check.

 

[StageLeft]

Originally posted by: Pabster
One thing is certain. With Democrats in control, they'll spend like drunken sailors until every penny is spent. And then some.

And yes, I know the last 6 years of Republican control in Congress have not been shining examples of fiscal conservatism.

Then stop contradicting yourself so effectively.

 

[Pabster]

Originally posted by: Skoorb
Then stop contradicting yourself so effectively.

How am I "contradicting" myself?

Or are you advocating that two wrongs make a right, as in Democrats spending like drunken sailors is acceptable simply because Republicans have done the same?

What we've seen is exactly what I stated in a previous thread; Meet the new boss, same as the old. The only difference is who gets funded.

 

[WHAMPOM]

Originally posted by: ProfJohn
As noted in the FY2007 budget thread that by this time next year we could have a month to month budget surplus. Which means by time election seasons kicks into gear in August and September all the candidates will start talking about how to spend this surplus.

So the question for this thread: What do we do with any surplus?

One thing we can be certain of is that they won?t use it to pay down the debt.

Idea one: Tax cuts for the poor, and only the poor. Increase the personal and dependent deductions and perhaps lower the bottom tax rate. This will cause the poor to pay less in taxes while at the same time having very little effect on the ?rich.?

(Yea I know I am jumping a head by talking about a surplus that isn?t not there yet, but it?s a slow night. Plus I want to see what kind of ideas are floating out there.)

Just what are you smoking Puffjohn, to dream up a surplus?:laugh:

 

[LegendKiller]

Originally posted by: Pabster

Originally posted by: Skoorb
Then stop contradicting yourself so effectively.

How am I "contradicting" myself?

Or are you advocating that two wrongs make a right, as in Democrats spending like drunken sailors is acceptable simply because Republicans have done the same?

What we've seen is exactly what I stated in a previous thread; Meet the new boss, same as the old. The only difference is who gets funded.

Amazingly, in the last 25 years there was only 8 years of when we had a slower growth in debt and a reduction in the "official" numbers (even in the unofficial numbers he still did much better) and that was during Clinton's admin. Personally, it's not who is in control, it's who is not in control. Having one party in charge of both the executive and the legislative branch is a recipe for disaster, as they are like kids in a candy store. They know they can't be stopped.

 

[toolboxolio]

let our 'commando' and chief spend it on iran's war....

what else?

 

[dyn2nvu]

Hmm give it back to the American people?

 

[kedlav]

If there's a surplus, which I doubt given the incredibly optimistic (R) forecasting, perhaps we should use it to pay back the sums we raid from social security every year so that the program isn't bankrupt halfway through the boomers retirement? More tax breaks for the poor? Or ***PAY OFF THE DEBT SOME, INCREASING THE SURPLUS IN THE FOLLOWING YEARS***

 

[ntdz]

What to do with a budget surplus? Give it back...

 

[Whoozyerdaddy]

Originally posted by: feralkid

Originally posted by: Pabster
One thing is certain. With Democrats in control, they'll spend like drunken sailors until every penny is spent. And then some.

And yes, I know the last 6 years of Republican control in Congress have not been shining examples of fiscal conservatism.

Hello?
The Democrats are in power, and guess what? They are not giving GWB a blank check.

Who said they were going to let Dubbya spend any of it? They're writing their own checks now. The new proposed budget is $2.9 Trillion. That's about $300 Billion more than this year.

Say what you will about the Republicans' spending habits (I think "ZOMG!!! WTF?!?!" covers it nicely) the Dems are pros. They're going to show us all how pissing away tax dollars is really done. Be bold, be shameless... It's all for the kids. Sit back and marvel at it all.

 

[K1052]

Originally posted by: Whoozyerdaddy

Originally posted by: feralkid

Originally posted by: Pabster
One thing is certain. With Democrats in control, they'll spend like drunken sailors until every penny is spent. And then some.

And yes, I know the last 6 years of Republican control in Congress have not been shining examples of fiscal conservatism.

Hello?
The Democrats are in power, and guess what? They are not giving GWB a blank check.

Who said they were going to let Dubbya spend any of it? They're writing their own checks now. The new proposed budget is $2.9 Trillion. That's about $300 Billion more than this year.

Say what you will about the Republicans' spending habits (I think "ZOMG!!! WTF?!?!" covers it nicely) the Dems are pros. They're going to show us all how pissing away tax dollars is really done. Be bold, be shameless... It's all for the kids. Sit back and marvel at it all.

So true. Instead of being shouted down with "You hate freedom/don't support the troops" from the Republicans its going to be old " You hate children/poor/sick people" guilt trip from the Democrats.