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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (10365)	2/25/2012 8:01:37 AM
From: Bearcatbob	1 Recommendation Respond to of 85487

"I think it must be selective memory. I know the older I become the fuzzier mine is but I remember that period quite well. Hopefully I learned a couple of lessons from it." It was easy. It is common hard left dogma that the deficits are all the result of the Bush tax cuts. I have run into that dogmatic response repeatedly. I swear there must be some site called Loony Left Dogma Dot Com where they all go for their talking points. It is a religion that they must believe or they are thrown out of the cult. If they believe the problems are all the result of the Bush tax cuts they can simply let them expire on Jan 1 and all will be fine. Another loony dogma is that tax rates were high in the '50s and we had great growth so we can return to those rate. This is an absolute article of faith. The fact the rest of the world was in ruin is irrelevant. It is amazing how they walk in lock step together. All the while they will purport to care about science and logic - but dogma rules. It is an amazing thing to see and watch. However, we must give Mary credit - she usually dwells in the land of the protected where they sing Kumbaya together all day long. Bob

To: Logain Ablar who wrote (10365)	2/25/2012 9:25:16 AM
From: Wharf Rat	Read Replies (2) \| Respond to of 85487

"The percieved surplus was well over by the time President Bush took office. " Nice try ... 2001 (Jan-Apr) Surplus $71B The surplus for the first four months of fiscal year 2001 was $71 billion, CBO estimates, $29 billion more than for the same period last year. After adjusting for the shift of certain payments from October into September 2000 (because October 1 fell on a weekend), the improvement in the surplus so far this year was about $22 billion. Even with a slowdown in economic growth, CBO projects a total surplus of $281 billion for fiscal year 2001. CBO Page 2001 Surplus $127B Fiscal year 2001 ended with a total budget surplus of $127 billion. This marks the fifth consecutive year in which the federal government has run a surplus. The surplus, however, was $110 billion less than the amount recorded in 2000—marking the end of eight consecutive years of improvement in the government's bottom line. The off-budget surplus, which encompasses transactions of the Social Security trust funds and the Postal Service, continued to grow, reaching $161 billion, but the government's on-budget accounts recorded a deficit of $34 billion, after showing surpluses for the past two years. CBO Page 2002 Deficit $-159B The federal government recorded a total budget deficit of $159 billion in fiscal year 2002, marking the end of five consecutive years of budget surpluses. The on-budget deficit of $318 billion was $285 billion larger than the on-budget deficit recorded in 2001 while the $160 billion off-budget surplus, which encompasses transactions of the Social Security trust funds and the Postal Service, was about $1 billion less than the corresponding figure for 2001. proudprimate.com WTF happened to cause this? Tax cuts $1.35 trillion tax cut becomes law CHILD TAX CREDIT articles.cnn.com