Deficit and revenues, both set record.....

Jun 2013
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"For the October to June period, government receipts have totaled $2.61 trillion while spending totaled $3.36 trillion, both record amounts for the first nine months of a budget year."
US budget deficit jumps 23% through June

I'm not so much against deficit spending as long as there is the capacity to pay back any money needed beyond revenues to pay for legitimate and/or temporary needs and without unduly burdening the future with expenses tax cuts caused currently.

For quite a while now, it has been popular for neo-republicans to call Democrats "tax and spenders" and call them such, in a derogatory way, but not only have Democrats, but some long time Republicans, noted the "cut revenue and spend more" practices of the neo-republican party, all the while they claim to be fiscally responsible and haters of debt and deficits. How can this be so? If one heads back to the word "hypocrisy" they will find it appears to be associated with a lot going on in this day and age and in recent decades.

Here is an open letter, from Pete Peterson about this from way back in 2003.
THE WAY WE LIVE NOW: 6-8-03; Deficits and Dysfunction


I can see how after generations or half centuries pass, there is the possibility that some people might forget that part of the past which were something wise to avoid in the present or future, because they led to things that were negatives, not positives, but how is it we are engaging in the same things that Pete Peterson wrote about, all over again, by someone and those like him, in Congress, who not only criticized the deficit spending and debt of their political opposition, but ran their own campaigns on getting rid of or reducing the nation's debt?

Why was the extra expense on July 4th necessary, when one claims they would like to reduce the amounts of money this nation owes? in a relative sense, taxing for the amount one is spending seems preferable to spending more than one is collecting in revenue, then having to borrow the money to pay for the shortfall, which only increases the original expense, because of having to pay interest. It also seems worse to run a political campaign that suggests deficit spending is bad and what the opposition does, then do the very thing you disparaged when others did it and when you were looking for votes.

Pay as you go is not always possible, but it when it is possible, it seems a logical way to go. A "progressive" tax is progressive because it in essence says someone who makes 10 million dollars does not struggle to make ends meet on 5 million dollars, whereas someone who makes minimum wage and works 2 or 3 jobs at minimum wage, would be forced into poverty with a 50% tax rate.

There are very wealthy people who see their good fortune as something to be grateful for and put to work helping those who are not so fortunate, then there are the very wealthy people who are greedy as hell and won't recognize any circumstances or people (clients/customers) that were a part of what led to their great wealth. It is up to Americans to decide what sort of character they wish to pursue and have a reputation for in the grand scheme of right and wrong as it is related to humanity and being humane, the one thing all humans are, for any and all other differences.
 

Jets

Moderator
Feb 2011
23,866
14,845
New York
Deficit reduction and fiscal conservatism are catch phrases used as campaign fodder for the minority party to harangue the majority.

The GOP should just come out and say they object because they are not running up the tab themselves.
 
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Jun 2013
18,938
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Here
The Dow Jones is also at an unprecedented high. Unemployment is down.

The economy should be considered robust, but I feel we are in a bubble and moments away from it bursting.
When one considered what the DJIA did from its lowest point under Obama to what it was when the WH was handed to DJT, what has occurred since under Trump, is only a continuation of that, not something that is any more "exceptional" considering comparison of the lowest points in the DJIA and employment Trump has had to deal with vs, what Obama had to deal with.

Most people know that if you blow up a balloon too fast, it may not even make it to its maximum capacity before it POPS!. If one blows it up more slowly and carefully and recognizes what it's maximum capacity to stay structurally sound there is less worry about it popping.

It's the difference between sustainability and what happens when greedy people want to get rich quick and throw caution to the wind about the overall economy, racing all the other greedy people to getting rich quick, before the bubble bursts and hoping they don't get left holding the bag.

Not sure why some people seem to think the regulations that come into existence after major bust, that are intended to reduce another major bust, need to be removed, unless they are part of the greedy sector that wants to suck the wealth out of the nation and into their pockets so they can sail off into some tropical island paradise sunset and sip
Piña coladas at the expense of all those they left behind, with a ruined economy.
 
Last edited:
Jun 2013
18,938
17,037
Here
Deficit reduction and fiscal conservatism are catch phrases used as campaign fodder for the minority party to harangue the majority.

The GOP should just come out and say they object because they are not running up the tab themselves.
They're not running it up themselves? You're funny. Full of BS (unless I am misunderstanding you), but funny. Who is it that the republican party (no longer a GOP) supports? By supporting DJT, do they not support his spending?

How the US public was defrauded by the hidden cost of the Iraq war | Michael Boyle

Trump Pledged to Eliminate the Debt. Instead He Will Add $8.3 Trillion
 
Last edited:
Jan 2014
19,004
5,542
California
"For the October to June period, government receipts have totaled $2.61 trillion while spending totaled $3.36 trillion, both record amounts for the first nine months of a budget year."
US budget deficit jumps 23% through June

I'm not so much against deficit spending as long as there is the capacity to pay back any money needed beyond revenues to pay for legitimate and/or temporary needs and without unduly burdening the future with expenses tax cuts caused currently.

For quite a while now, it has been popular for neo-republicans to call Democrats "tax and spenders" and call them such, in a derogatory way, but not only have Democrats, but some long time Republicans, noted the "cut revenue and spend more" practices of the neo-republican party, all the while they claim to be fiscally responsible and haters of debt and deficits. How can this be so? If one heads back to the word "hypocrisy" they will find it appears to be associated with a lot going on in this day and age and in recent decades.

Here is an open letter, from Pete Peterson about this from way back in 2003.
THE WAY WE LIVE NOW: 6-8-03; Deficits and Dysfunction


I can see how after generations or half centuries pass, there is the possibility that some people might forget that part of the past which were something wise to avoid in the present or future, because they led to things that were negatives, not positives, but how is it we are engaging in the same things that Pete Peterson wrote about, all over again, by someone and those like him, in Congress, who not only criticized the deficit spending and debt of their political opposition, but ran their own campaigns on getting rid of or reducing the nation's debt?

Why was the extra expense on July 4th necessary, when one claims they would like to reduce the amounts of money this nation owes? in a relative sense, taxing for the amount one is spending seems preferable to spending more than one is collecting in revenue, then having to borrow the money to pay for the shortfall, which only increases the original expense, because of having to pay interest. It also seems worse to run a political campaign that suggests deficit spending is bad and what the opposition does, then do the very thing you disparaged when others did it and when you were looking for votes.

Pay as you go is not always possible, but it when it is possible, it seems a logical way to go. A "progressive" tax is progressive because it in essence says someone who makes 10 million dollars does not struggle to make ends meet on 5 million dollars, whereas someone who makes minimum wage and works 2 or 3 jobs at minimum wage, would be forced into poverty with a 50% tax rate.

There are very wealthy people who see their good fortune as something to be grateful for and put to work helping those who are not so fortunate, then there are the very wealthy people who are greedy as hell and won't recognize any circumstances or people (clients/customers) that were a part of what led to their great wealth. It is up to Americans to decide what sort of character they wish to pursue and have a reputation for in the grand scheme of right and wrong as it is related to humanity and being humane, the one thing all humans are, for any and all other differences.
Mr. Frayed,

One thing to look at is that $120B of the $202B increase in outlays over last year are items that are beyond the control of government, i.e., increases in SSI, Medicare, and Medicaid, and increases in debt service because of increased interest rates.
 
Last edited:
Feb 2011
19,327
14,329
The formerly great golden state
Deficit reduction and fiscal conservatism are catch phrases used as campaign fodder for the minority party to harangue the majority.

The GOP should just come out and say they object because they are not running up the tab themselves.
But, currently at least, they are the ones running up the tab.

There is no fiscally conservative party. The only real difference is that the Republicans used to make mouth noises about cutting government spending, while the Democrats were more open about profligate spending. Since Trump took over the Republican Party, they don't even make those mouth noises any more. Both parties are parties of spend, spend, spend. There is no fiscal restraint in Washington, just disagreement over how the borrowed dollars should be spend,.
 

Jets

Moderator
Feb 2011
23,866
14,845
New York
They're not running it up themselves? You're funny. Full of BS (unless I am misunderstanding you), but funny. Who is it that the republican party (no longer a GOP) supports? By supporting DJT, do they not support his spending?

How the US public was defrauded by the hidden cost of the Iraq war | Michael Boyle

Trump Pledged to Eliminate the Debt. Instead He Will Add $8.3 Trillion
You are misunderstanding me. The GOP gets mad at the Democratic Party because they (the GOP) can not run it up themselves when they are out of power. Hope that is more clear.