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Where did the mammoth US budget deficits come from?
September 29, 2012
5:53 pm
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En-Lugal
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Where did the mammoth US budget deficits come from?

By Peter Grier | Christian Science Monitor – 18 hrs ago

Let's go back about a decade, when budget surpluses were predicted for the foreseeable future. Somehow, the math went terribly wrong, by trillions of dollars. Here's an accounting of what happened.

What’s the cause of the federal government’s huge budget deficits? That’s a question that is harder to answer in the particular than you might think. The general problem is obvious: Uncle Sam has been spending more money than he takes in. The specific reasons as to why this state of affairs exists are a mix of human decisions, economic circumstance, and the cumulative effect of time.

Context is important here. So let’s start with 2001. That year, the Congressional Budget Office looked out over the decade to come and saw ahead nothing but blue skies and black ink. It predicted that between 2001 and 2011 the US would run budget surpluses totaling $5.6 trillion.

That didn’t happen. Instead, the US racked up $6.1 trillion in deficits over that period. CBO’s prediction was a whopping $11.7 trillion off the mark. How did things go so wrong?

Source

It's interesting how people that tow party lines can read this and see completely different things. Most notably, they see ammunition to support their claim that the other side is to blame. Nothing changes, does it? Laugh Read and see what you think. I don't want to effect the outcome of anyone's opinion with my own. I do think the problem is blatantly obvious though.

The modern definition of ‘racist’ is someone who’s winning an argument with a liberal.

October 1, 2012
10:09 pm
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The military industrial complex and pharmaceutical health "care"companies have stolen it all.

October 1, 2012
10:32 pm
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greeney2
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Wrong---Welfare and giving foriegn aid to every nation on earth we don't have to give. People have their hands out for every program from food stamps to anything else free. We also allow 10 million illegals to enroll their kids in our schools for free, and use the country hospitals. God know how many never pay a dime in taxes.

March 8, 2013
5:55 pm
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AMBASSADOR_OF_KOLOB
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"esecallum" wrote: The military industrial complex and pharmaceutical health "care"companies have stolen it all.

I will only say this about the problem of governmental deficits created by the leaders in power! I suspect that if they really wanted to they could "pay off the national debt" in a heart beat, but that would make it less likely for the average person on the street to "get the idea" this is really a problem not for the kings who can "print as much money as they want" but for the pauper who has barely enough money to make ends meet!

So the issue is not really "how deep in debt" we are, but rather how "RICH AND POWERFUL" the kings are that have "taken this money" whenever they felt like it, because after all they can "keep both murder and treason a secret" so WHY NOT BANK ROBBERY as well?

I cannot say where you might be able to find more information about that, FOR GREENIE just swore me to "secrecy about that" and I am not "permitted to disclose it" but I can tell you where you can find it in history, check out the 2nd Bank of the United States of America and "find out exactly" what happened to that bank and why!

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