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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: d[-_-]b who wrote (692542)	1/12/2013 12:47:03 PM
From: bentway	1 Recommendation Read Replies (9) \| Respond to of 1578181

The success of Obama after Bush really enrages you guys, doesn't it?

To: d[-_-]b who wrote (692542)	1/12/2013 12:50:36 PM
From: FJB	Read Replies (1) \| Respond to of 1578181

Monthly deficits fluctuate widely based on the timing of revenues and payments. You would have to have complete shit for brains to think this is some kind of fiscal turnaround.

To: d[-_-]b who wrote (692542)	1/12/2013 12:53:59 PM
From: FJB	Respond to of 1578181

Notice December is always a low deficit month, because of timing. You can see how widely the fluctuate here: As US Rakes Largest Monthly Deficit In History, 2012 Tax Revenues Net Of Refunds Trail 2011 Submitted by Tyler Durden on 03/12/2012 15:00 -0400 A few days ago we noted that based on preliminary data, the February budget deficit would hit $229 billion (yes, nearly one quarter of a trillion in one month, about where real Greek GDP is these days) - the largest single monthly deficit in history. Unfortunately, this number was low: the final February deficit was just released and the actual print is $231.7 billion. It also means that in the first 5 months of the fiscal year, the US has raked up $580 billion in deficits, oddly matched by $727 billion in new debt issuance, 25% more new debt issued than needed to fund deficits... And that in itself would not be horrible - February is traditionally the worst month for deficits as the Treasury sees a surge in tax refund issuance - if it wasn't for something even more troubling. As the second chart below shows, through last Friday, and net of tax refunds, total US tax revenues were actually lower in the fiscal 2012 year to date period than compared to 2011, by just under $2 billion, at $625.5 billion. Which is the weakest link for any argument that the US is actually growing: what is growing is America's debt (now almost exponentially), while its revenues are at best unchanged. And the scariest: annualizing net tax revenues brings the number to $1.5 trillion. Which is just 50% more where total US debt interest will be in 2014 when debt is $20 trillion, assuming interest rates are somehow allowed to go back up... to the astronomical level of 5%. Monthly deficits:

To: d[-_-]b who wrote (692542)	1/12/2013 1:02:14 PM
From: THE WATSONYOUTH	Respond to of 1578181

funny thing.....no mention of November's deficit in December's report........what's up with that?? Deficit hit $172B in November, with US on path for fifth straight year topping $1 trillion Published December 12, 2012 FoxNews.com The U.S. budget deficit unexpectedly increased in November, to $172 billion for the month -- pushing the country one step closer to the limit on government borrowing. The Treasury said Wednesday the deficit last month was $22 billion more than the October mark and up from $137 billion in November 2011. The numbers paint a gloomy picture of the country’s fiscal health and could complicate already delicate negotiations in Washington over tax rates and spending cuts with a deadline looming to to avert a fiscal crisis. The Treasury said the unexpired jump was the result of a calendar quirk that pulled into November about $33 billion in benefits payments slated for December. The new number could puts the country on pace to notch its fifth-straight annual deficit over $1 trillion. The government finished the 2012 budget year, which ends Sept. 30, with a deficit of $1.1 trillion. With the economy and hiring improving a bit, the government is receiving more tax receipts. Overall tax revenue increased 10 percent in the first two months of the budget year to $346 billion. But spending has increased faster, up $87 billion or 16 percent. The deficit, in simplest terms, is the amount of money the government has to borrow when revenues fall short of expenses. Last year's deficit was lower than the previous year but still painfully high by historical standards. Obama's presidency has coincided with four straight $1 trillion-plus deficits -- the first in history and a record he had to vigorously defend during his re-election campaign. He had promised in February 2009 to cut the deficit in half by the end of this first term. This year's deficit is closely tied to what happens with the looming fiscal crisis. Some economists fear that the $671 billion in higher taxes and spending cuts that would start January would, if left in place, push the economy into a recession. The president and congressional Republicans have traded proposals for an alternative budget deal. Obama has called for $1.4 trillion in new revenue over 10 years, partly by raising taxes on the wealthiest two percent of taxpayers. He has also recommended $400 billion in spending cuts over a decade. House Speaker John Boehner, a Republican from Ohio, has offered $800 billion in new revenue and is calling for $1.2 trillion in spending cuts. House Republicans want to raise the revenue by closing loopholes rather than raising tax rates, as Obama is demanding. The government has run annual deficits for more than a decade and hit a record $1.41 trillion in 2009, Obama's first year in office. That was largely because of the worst recession since the Great Depression. Tax revenue plummeted during the downturn, while the government spent more on stimulus programs. The budget gaps in 2010 and 2011 were slightly lower than the 2009 deficit as a gradually strengthening economy generated more tax revenue. President George W. Bush also ran annual deficits through most of his two terms in office after he won approval for broad tax cuts and launched wars in Afghanistan and Iraq. The last time the government ran an annual surplus was in 2001. The Associated Press contributed to this report. Read more: foxnews.com