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Thread: 2014 will mark smallest deficit since 1980

  1. #1

    2014 will mark smallest deficit since 1980

    Lowest gdp to deficit ratio since 1980.
    http://online.wsj.com/article/BT-CO-...14-710455.html



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  3. #2
    This looks like it is a pretty big deal! You should contact a mod and request it be put on the front page.

  4. #3
    Well, you could believe the OP or read the WSJ article. The actual 4/14 press release from the CBO reads differently from the spin presented.

    http://www.cbo.gov/publication/45229

    XNN
    "They sell us the president the same way they sell us our clothes and our cars. They sell us every thing from youth to religion the same time they sell us our wars. I want to know who the men in the shadows are. I want to hear somebody asking them why. They can be counted on to tell us who our enemies are but theyre never the ones to fight or to die." - Jackson Browne Lives In The Balance

  5. #4
    OP, do you consider that a good thing? If so, don't you have to consider the partisan gridlock in Washington, with Republicans obstructing everything the Democrats want to do, a good thing too?

  6. #5
    Quote Originally Posted by XNavyNuke View Post
    Well, you could believe the OP or read the WSJ article. The actual 4/14 press release from the CBO reads differently from the spin presented.

    http://www.cbo.gov/publication/45229

    XNN
    Yeah, the decrease in the deficit is unsustainable. Entitlements are going to make it balloon soon. But that was already looming.

    I don't think there's really any question that the federal government has grown a lot more slowly under Obama than it would have under McCain or Romney, which is why people who favor more spending (of all kinds) should have preferred that they win, while people who favor less spending (of all kinds) should have preferred that Obama win.

    I wonder what 56ktarget preferred in those elections.

  7. #6
    Quote Originally Posted by 56ktarget View Post
    Lowest gdp to deficit ratio since 1980.
    http://online.wsj.com/article/BT-CO-...14-710455.html
    I would very much applaud President Obama and the Congress for their work on this matter. If the decline in the deficit was not expected to be temporary. Seeing as it will be temporary, I won't.

  8. #7
    Chester Copperpot
    Member

    this is just more bull$#@!..

    smalled deficit since 1980 im aware of was about $17 billion during one of the clinton years..

    anytime you see something based on GDP ratio or on some rolling 10 year plan its a sure sign its a load of chicken$#@!

  9. #8
    Quote Originally Posted by Mike Mitrosky View Post
    this is just more bull$#@!..

    smalled deficit since 1980 im aware of was about $17 billion during one of the clinton years..

    anytime you see something based on GDP ratio or on some rolling 10 year plan its a sure sign its a load of chicken$#@!
    "There are liars, damned liars and statisticians." - Mark Twain
    "The Patriarch"



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  11. #9
    Quote Originally Posted by Mike Mitrosky View Post
    this is just more bull$#@!..

    smalled deficit since 1980 im aware of was about $17 billion during one of the clinton years..

    anytime you see something based on GDP ratio or on some rolling 10 year plan its a sure sign its a load of chicken$#@!
    Yeah, the OP misread the article. It doesn't say it's the smallest deficit/GDP ratio since 1980. It says it's the smallest since 2007. 56kt saw the date 1980 mentioned for something else in the article and didn't understand what he was reading.

  12. #10
    Quote Originally Posted by erowe1 View Post
    Yeah, the OP misread the article. It doesn't say it's the smallest deficit/GDP ratio since 1980. It says it's the smallest since 2007. 56kt saw the date 1980 mentioned for something else in the article and didn't understand what he was reading.
    Guys, he couldn't be a more obvious troll if he was hanging out under a bridge demanding payment for passage.

  13. #11
    How can you have a deficit if you can't have a budget? How many years now?

  14. #12
    Quote Originally Posted by erowe1 View Post
    Yeah, the OP misread the article. It doesn't say it's the smallest deficit/GDP ratio since 1980. It says it's the smallest since 2007. 56kt saw the date 1980 mentioned for something else in the article and didn't understand what he was reading.

    That reading deficit may be the cause for the logic deficit.
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  15. #13
    Liberty is lost through complacency and a subservient mindset. When we accept or even welcome automobile checkpoints, random searches, mandatory identification cards, and paramilitary police in our streets, we have lost a vital part of our American heritage. America was born of protest, revolution, and mistrust of government. Subservient societies neither maintain nor deserve freedom for long.
    Ron Paul 2004

    Registered Ron Paul supporter # 2202
    It's all about Freedom

  16. #14
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    Did you read the fine print?

    The CBO said it expects the government will spend $3.523 trillion in 2014, representing 20.4% of GDP. Two-thirds of the spending is directed to military-related programs and benefits for Medicare, Social Security and Medicaid. It said the government will bring in $3.032 trillion in revenue, a figure that represents 17.6% of GDP. Most of that comes from individual income taxes and payroll taxes.
    They haven't really cut anything of substance, but they have increased taxes. In comparison to 2013, when the federal government took home approximately $2.7 trillion in tax revenue.
    Last edited by AuH20; 04-17-2014 at 09:40 AM.

  17. #15
    INFLATION 4 tha WIN!
    FLIP THOSE FLAGS, THE NATION IS IN DISTRESS!


    why I should worship the state (who apparently is the only party that can possess guns without question).
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    At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?

  18. #16
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    Quote Originally Posted by Ronin Truth View Post
    How can you have a deficit if you can't have a budget? How many years now?
    A deficit is the numerical difference between total tax revenue and federal outlays in a calendar year. All they did was increase tax revenue and then passed it off as efficiency & cost savings.

    Last edited by AuH20; 04-17-2014 at 09:48 AM.



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  20. #17
    Quote Originally Posted by AuH20 View Post
    Did you read the fine print?



    They haven't really cut anything of substance, but they have increased taxes. In comparison to 2013, when the federal government took home approximately $2.7 trillion in tax revenue.
    BUt that's the fundamental difference between us and the OP. He wants taxes to be higher. He does not want anything to be private. The higher the taxes, the more people depend on government, and the less private capital is in play.

  21. #18
    Quote Originally Posted by erowe1 View Post
    Yeah, the OP misread the article. It doesn't say it's the smallest deficit/GDP ratio since 1980. It says it's the smallest since 2007. 56kt saw the date 1980 mentioned for something else in the article and didn't understand what he was reading.

    Which is why liberals should never be trusted with money. There's a reason they are poor, and it isn't racism. They just do not understand money, finance and economics. The Republicans do. Granted, they tend to use that knowledge for evil instead of good but at least they understand what they're doing.


    CBO's adjustments come as the government's debt ratio sits at historically high levels, representing 73.8% of GDP. Debt rose sharply in the past six years when revenue plummeted and spending expanded as a result of the financial crisis and policy response.


    Dumb assery.
    Last edited by angelatc; 04-17-2014 at 10:20 AM.

  22. #19
    So the Laffer curve is horse manure, I guess.

  23. #20
    Quote Originally Posted by Boshembechle View Post
    So the Laffer curve is horse manure, I guess.
    You really don't serve yourself well by trying to participate in economics threads. The Laffer curve represents a theory about how taxable income reacts to changes in taxation. It has nothing to do with deficit spending, except perhaps as a tool when developing a plan to try to pay down the debt.

  24. #21
    Quote Originally Posted by Boshembechle View Post
    So the Laffer curve is horse manure, I guess.
    It is. Not only has Laffer been convicted of fraud, but the base assumption behind the Laffer curve - that the goal of taxation is to maximize government revenue - is inimical to a free society.

  25. #22
    Quote Originally Posted by thoughtomator View Post
    It is. Not only has Laffer been convicted of fraud, but the base assumption behind the Laffer curve - that the goal of taxation is to maximize government revenue - is inimical to a free society.
    I don't think he was convicted for fraud, although he was sued when a business venture went bust. The liberals yammered about it...

    ANd he didn't actually invent the Laffer curve. It picked up the name during the Ford years because he talked about it.

    And the base assumption isn't that the goal of taxation is to maximize government revenue. The base assumption is that there is a point where the relationship of income to tax will provide a maximum return.

  26. #23
    Quote Originally Posted by Boshembechle View Post
    So the Laffer curve is horse manure, I guess.
    Yeah, so?

  27. #24
    This thread is another laffer for an OP who keeps getting run out of his own threads. Laffing out loud.



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  29. #25
    Where is Zippy? I'm sure he will have the real answers...
    "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
    —Charles Mackay

    "god i fucking wanna rip his balls off and offer them to the gods"
    -Anonymous

  30. #26
    Quote Originally Posted by kathy88 View Post
    Where is Zippy? I'm sure he will have the real answers...

    I respect Zippy, he actually tries to make valid points.
    The OP on the other hand, he read a few big words and now repeats them without knowing the meaning.
    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler



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