Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 -- Ignore unavailable to you. Want to Upgrade?

To: Peter O'Brien who wrote (102979)	7/14/2007 4:26:15 PM
From: JBTFD	Read Replies (1) \| Respond to of 173976

$8,399,337,620,229.53 7/3/2006 $8,870,458,009,723.60 7/3/2007 treasurydirect.gov

To: Peter O'Brien who wrote (102979)	7/14/2007 5:05:58 PM
From: Dan3	Read Replies (2) \| Respond to of 173976

Re: it is in the 200 billion range, and it is coming down. You're confused, but it's not your fault - the data are intentionally presented in a very confusing manner. What decreased a bit is the rate at which the money is being borrowed by the Federal government, from about $400,000,000,000 in 2005 down to about $200,000,000,000 borrowed per year (for 2007 - if things keep going as they have so far this year). That means that Bush is putting every household in the US about $2,000 deeper into debt, this year. Granted, that's a lot better than putting each of our families $4,000 deeper into debt this year, but it's hardly wonderful news. Under Clinton, we were paying off debt (by the rules under which Bush is claiming victory). We were actually still borrowing some from social security under Clinton, and things are actually much worse than reported - as bad it already sounds - under Bush.

To: Peter O'Brien who wrote (102979)	7/14/2007 5:20:50 PM
From: Steve Dietrich	Respond to of 173976

Bush getting the deficit down to where it was in 2002? I guess we won't get back to how things were before Bush took office until he leaves... To realize what a colossal fiscal failure Bush has been we just have to take a trip down memory lane: My budget has funded a responsible increase in our ongoing operations, it has funded our Nation's important priorities, it has protected Social Security and Medicare, and our surpluses are big enough that there is still money left over. Many of you have talked about the need to pay down our national debt. I have listened, and I agree. My budget proposal pays down an unprecedented amount of public debt. We owe it to our children and grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years. At the end of those 10 years, we will have paid down all the debt that is available to retire. That is more debt repaid more quickly than has ever been repaid by any nation at any time in history. We should also prepare for the unexpected, for the uncertainties of the future. We should approach our Nation's budget as any prudent family would, with a contingency fund for emergencies or additional spending needs. For example, after a strategic review, we may need to increase defense spending, we may need additional money for our farmers, or additional money to reform Medicare And so my budget sets aside almost a trillion dollars over 10 years for additional needs -- that is one trillion additional reasons you can feel comfortable supporting this budget. We have increased our budget at a responsible 4 percent, we have funded our priorities, we have paid down all the available debt, we have prepared for contingencies -- and we still have money left over. SD