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Originally posted by nomnom
reply to post by TauCetixeta
You do realize a deficit is in the negative, correct?
Look at the numbers carefully. Our debt to GDP ratio is still growing.
These cuts are minimal. The sequester counts for a mere 2.4% of the spending.
It's a joke.
If I'm reading that chart correctly, the cuts ammount to less than 1.1 trillion over a 9 year period. That doesn't even put a dent in the deficit.edit on 7-3-2013 by nomnom because: (no reason given)
Originally posted by jibajaba
'...make it hurt...' potus -
suggestion to potus - give up yer golf and vacations - really get to know yer family.
Originally posted by Severin
reply to post by TauCetixeta
Congratulations. You must all be very proud
How many thousands of years til its paid off again?
Originally posted by Wrabbit2000
reply to post by TauCetixeta
That's the whole problem. I don't see any deficit dropping. Not even a little bit...namely because I've yet to see a deficit figure that properly accounts for things like that 85 billion a month. Going by projections still carried in Government as of December, the deficit BEFORE that was going to be around 1 trillion dollars for fiscal 2013. That's just an estimate, since again, no budget means no lines to stay within either.
Given the "easing" that Bernanke was just, last week, defending on Capital Hill as needed for an indefinite period, it puts the 2013 fiscal shortfall closer to 2 TRILLION dollars. The highest in history, by a long shot and second only to THIS President's other record setting deficit of 1.5 trillion last term. ( By comparison, Bush's worst year, wars included, came a hair over 500 billion...but they had budgets in advance back then too)
I love your optimism, I really do....but the fact is, nothing is really dropping because we don't even see a real balance sheet with all the numbers represented. I don't know that we ever will at this rate. That's where the budget becomes critically important. We're all guessing with half a bucket of facts without one.
Originally posted by MrWendal
reply to post by TauCetixeta
What is truly sad is your lack of understanding in what you are seeing.
The only thing sadder than that, is that many other people will view this as you have.
Originally posted by TauCetixeta
Add the sequester spending reductions and suddenly the USA appears to be financially
responsible.
BTW, have you noticed the stock market lately? 14,300 and rising!
Originally posted by alfa1
Originally posted by TauCetixeta
Add the sequester spending reductions and suddenly the USA appears to be financially
responsible.
Great, so instead of going into a further 1.8 Trillion dollar debt this year, you'll only go into a further 1.79 Trillion dollar debt this year?
Actually..lets see the numbers.
The debt clock page shows the Federal Budget Defecit going down (by my estimate) by about $175000 per minute.
By my calculations, that means you'll have a balanced budget in about 11.3 years from now.
But of course, as each of those years go by the debt owed is still increasing. You'll be up to 20-something trillion owing.
Originally posted by nomnom
reply to post by TauCetixeta
The stock market is not an indicator of the state of the economy. Look at the DOW to GOLD ratio.
The real estate market is another issue. We still have yet to pop the corporate real estate bubble, and it will dwarf the residential real estate bubble of 7 years ago.
Then you have the student loan crisis.
Seriously, you're in lala land here.
Originally posted by micmerci
BTW, have you noticed the stock market lately? 14,300 and rising!
The DJ index was also at a record high in 2007 right before the bubble burst, sending us into the worst recession since the depression.
I can already see the - unexpected - Capital Gains Tax checks arriving at the IRS.
Real Estate Truth: Go to Zillow .com
New Homes are selling as soon as they are built.
Our carpenters , plumbers and electricians are back to work. I think they pay taxes.