SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: jttmab who wrote (50944)6/24/2005 8:40:36 PM
From: bearshark  Read Replies (2) of 173976
 
>>>See Table 1<<<

Probably, the best way to look at the figures in Table 1 is to take the dollar column entitled "On Budget" and deduct (Postal Service). So, for FY 1999, the unspent revenues were $.9 billion and not the "Total;" column of $125.5 billion which includes the SSA surplus. In FY 2000, the unspent revenues were $84.3 billion--excluding the SSA surplus.

In subsequent years, you can just use column 3 since, even the Postal surplus was used to cover some of the deficit. In Table 2, columns 2 and 3 are instructive since they represent percentages of GDP. By FY 2000, which ended in September 2000, revenues were safely above spending as a percent of GDP. In the Fall of 2000, Congress was prepared to send Mr. Clinton a $650 billion (about) tax cut for him to sign. That might have covered the discrepancy between revenue and outlay as a percent of GDP. However, Congress did not send that tax cut forward because Mr. Bush--who had promised larger tax cuts--was declared the victor in the presidential election. Anyone can compare the later years and see what happened.

Some people believe that revenue was severely harmed by a "near depression" after September 11, 2001. The following table from the St. Louis Fed shows the last year where our GDP declined on an annual basis.

research.stlouisfed.org
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News