October US budget deficit

[ArlJim78]

$176 BILLION!!

Well we're off to a rip roaring start to FY 2010. Right out of the box the deficit in the first month exceeds the total for the whole year in 2007. Receipts were down 18% from a year earlier, but oddly enough outlays were only down 3%.

thank god the stimulus has brought us back from the brink. Time for more taxes and gigantic spending programs. yeah that's the ticket. we're only paying out $18 billion per month in interest. nothing to worry about.
__________________________________________________

WASHINGTON (http://online.wsj.com/article/SB125805524231245829.html) -- The federal government kicked off fiscal year 2010 by posting its widest-ever October budget deficit, the Treasury Department said Thursday.

The $176.36 billion gap is more than $20 billion wider than the shortfall recorded in October 2008, driven up by lower tax receipts, stimulus-related revenue reductions and consistently high government outlays.

[boxcar]

$176 BILLION!!

Well we're off to a rip roaring start to FY 2010. Right out of the box the deficit in the first month exceeds the total for the whole year in 2007. Receipts were down 18% from a year earlier, but oddly enough outlays were only down 3%.

thank god the stimulus has brought us back from the brink. Time for more taxes and gigantic spending programs. yeah that's the ticket. we're only paying out $18 billion per month in interest. nothing to worry about.
__________________________________________________

WASHINGTON (http://online.wsj.com/article/SB125805524231245829.html) -- The federal government kicked off fiscal year 2010 by posting its widest-ever October budget deficit, the Treasury Department said Thursday.

The $176.36 billion gap is more than $20 billion wider than the shortfall recorded in October 2008, driven up by lower tax receipts, stimulus-related revenue reductions and consistently high government outlays.

Ah....don't sweat the small stuff. Not to worry. Next up to bat after HC is cap and trade. But I have some really good news on that according to a good friend of mine: It's only a 1,400+ page bill. Light stuff compared to the stimulus and HC bills. :rolleyes: But I also have some bad, most especially for those of us who are home owners: The bill contains mucho, mucho regulations and rules that will prohibit home owners from selling their homes unless they spend the money to retrofit their homes with all the specified energy-saving gadgets and technology. It will be the existing homeowner's responsibility to get up to snuff, not the new one.

Isn't it great living in a free society? On the one hand, we are told what we must buy under the penalty of stiff fines or imprisonment. And then on the other, we're going to be told what we can sell and under what specific conditions we can sell it. Oh...yeah, and of course, we'll be taxed through the wazoo. But not to fear...'cause in the end, it'll all work out just fine. :rolleyes: BO has it all under control, including The People.

Boxcar
P.S. Someone should ask Pelosi if this bill is constitutional, too? :rolleyes:

[johnhannibalsmith]

Constitutional?

Quuuiiiiiiiiit.......

Shouldn't someone just fix all this pesky mumbo-jumbo slowing down 'progress' by challenging the constitutionality of the Constitution?

[boxcar]

Constitutional?

Quuuiiiiiiiiit.......

Shouldn't someone just fix all this pesky mumbo-jumbo slowing down 'progress' by challenging the constitutionality of the Constitution?

:lol: :lol: You be on a roll today. :lol: :lol:

Boxcar

[NJ Stinks]

$176 BILLION!!













Well we're off to a rip roaring start to FY 2010. Right out of the box the deficit in the first month exceeds the total for the whole year in 2007. Receipts were down 18% from a year earlier, but oddly enough outlays were only down 3%.

thank god the stimulus has brought us back from the brink. Time for more taxes and gigantic spending programs. yeah that's the ticket. we're only paying out $18 billion per month in interest. nothing to worry about.
__________________________________________________

WASHINGTON (http://online.wsj.com/article/SB125805524231245829.html) -- The federal government kicked off fiscal year 2010 by posting its widest-ever October budget deficit, the Treasury Department said Thursday.

The $176.36 billion gap is more than $20 billion wider than the shortfall recorded in October 2008, driven up by lower tax receipts, stimulus-related revenue reductions and consistently high government outlays.

That 2007 figure is horse manure. Over $99B in emergency supplemental appropriations was given to the Dept. of Defense in May 2007 to pay for the Iraq War through the end of the 2007 fiscal year (9-30-2007). Magically, this extra money for Iraq was not considered part of the budget deficit in 2007.

Just another 'inconvenient truth'. :rolleyes:

[ArlJim78]

That 2007 figure is horse manure. Over $99B in emergency supplemental appropriations was given to the Dept. of Defense in May 2007 to pay for the Iraq War through the end of the 2007 fiscal year (9-30-2007). Magically, this extra money for Iraq was not considered part of the budget deficit in 2007.

Just another 'inconvenient truth'. :rolleyes:
that's not true, just like it's not true that blue states are funding red states. get some new material because this stuff has been disproven time and again.

and another thing, the point about the comparison to 2007 is insignificant and avoids the big issue of how the Obama presidency is a fiscal disaster of historic proportions.

[Tom]

Hope....and change.

[johnhannibalsmith]

Hope....and change.

You forgot the most important campaign promise, though subtle in the delivery throughout... fundamental transformation of America into the USA.T.M. -- BO supporters are awaiting their USA.T.M. card and need you to supply the PIN number...

[NJ Stinks]

that's not true, just like it's not true that blue states are funding red states. get some new material because this stuff has been disproven time and again.

and another thing, the point about the comparison to 2007 is insignificant and avoids the big issue of how the Obama presidency is a fiscal disaster of historic proportions.

Not true, Jim. Give me a link. Give me something besides you telling me it's not true.

You guys post some BS, lefties show why it's untrue, and then you still insist it's true while trashing the messenger. I guess that style of debate must work somewhere. :confused:

[Tom]

Trashing? Where?
You seeing things?
Unless presenting facts in an argument is trashing.:lol:

[ArlJim78]

Not true, Jim. Give me a link. Give me something besides you telling me it's not true.

You guys post some BS, lefties show why it's untrue, and then you still insist it's true while trashing the messenger. I guess that style of debate must work somewhere. :confused:
sorry, not this time, i spent too much time on it already with you. you look it up yourself.
I'll summarize;
yes the war funding was done by supplemental appropriation under Bush, it wasn't an item he put in his budget. okay so far?

however this fact means squat in terms of the deficit because those numbers cited DO include all government spending, EVEN the wars.

do you really think that if there was some tricky way to make the deficit smaller by $100 billion (and have nobody notice) that democrats wouldn't be first in line to do it? come on. they're playing fast and loose with the numbers on the heathcare bill like you wouldn't believe, they're using every trick in the book.

[NJ Stinks]

sorry, not this time, i spent too much time on it already with you. you look it up yourself.
I'll summarize;
yes the war funding was done by supplemental appropriation under Bush, it wasn't an item he put in his budget. okay so far?

however this fact means squat in terms of the deficit because those numbers cited DO include all government spending, EVEN the wars.

do you really think that if there was some tricky way to make the deficit smaller by $100 billion (and have nobody notice) that democrats wouldn't be first in line to do it? come on. they're playing fast and loose with the numbers on the heathcare bill like you wouldn't believe, they're using every trick in the book.

OK. I looked it up myself.

I finally found the answer and I must admit it's time to eat humble pie. :blush: The yearly budget deficit does include money spent off budget - such as the supplemental appropriations on the wars. Please accept my humble apology, Jim. I learned something here. :ThmbUp:

It was stated clearly in Document Table 1.1 in the U.S. Office of Management & Budget website. The link is below.

http://www.whitehouse.gov/omb/budget/historicals/