Dollars and Sense

The federal deficit is running sharply lower through the first eight months of this budget year as growth in revenues continues to outpace growth in spending.

Hmm.

Compared to the same period a year ago revenue gains are up 8 percent while federal spending is up at a slower pace of 2.5 percent.

Hang on a second. Hold the phone.

The gumbmint is spending only 2.5 percent more this year when compared to last year? Hell, that’s *less* than the inflation rate. That’s also based, you know, on the prior Congress’ budget plan.

Does Lou Dobbs know about that? Do the Internet’s spending activists know about that? Um, do *any* of those people actually work for a living???

The federal budget was in surplus for four years from 1998 through 2001.

Waaaaait a minute. We had deficits all the way through 1998?

Did the media know about that? Hell, when Clinton ran for re-election I was so hypnotized by the media’s rhythmic chanting about how great the economy was I actually believed free money and candy were falling from the clear blue skies.

Seriously.

In the budget President Bush sent to Congress for fiscal 2008 the White House projected the government can return to a surplus by 2012 even if all the GOP’s first-term tax cuts are made permanent.

Ah, yes. But keep in mind conservatives committed political suicide last November.

Although media/Democrats are not stupid enough to let all those tax cuts expire — people who participate in our democracy tend to get upset when their taxes are raised — there’s no chance that all of those various tax breaks will be extended, much less made permanent.

No chance in hell.

Source: This AP article.

Double dipping for double dips
The Sopranos' Final Scene
  • jim

    The budget figures utterly ignore the largest current expenditure: the occupation of Iraq.

    Listen to your own GOP candidate Ron Paul, as he breaks it down:
    http://www.antiwar.com/paul/?articleid=10423

    “The Pentagon recently reported that it now spends roughly $8.4 billion per month waging the war in Iraq, while the additional cost of our engagement in Afghanistan brings the monthly total to a staggering $10 billion. Since 2001, Congress has spent more than $500 billion on specific appropriations for Iraq. This sum is not reflected in official budget and deficit figures. Congress has funded the war by passing a series of so-called “supplemental” spending bills, which are passed outside of the normal appropriations process and thus deemed off-budget.”

    In fact, as the Christian Science Monitor also relates:
    http://www.csmonitor.com/2006/0110/dailyUpdate.html

    “Report: Iraq war costs could top $2 trillion”

    Add in the real figures, and the budget looks quite a bit different. Just sayin’.

  • kim

    9/11 was a trillion dollar economic hit. Care for more?
    ================================

  • Rory

    OK-what the heck-your stuff keeps getting buried.

    I think the time stamp “publishes” when you originally started writing the piece-not when you actually go to publish.

    Or else there is something hokey with wizbang and it posts you at Eastern time.

    I don’t know how you would fix it-heck maybe set your computer to east coast time?

    I would say save it in Word and then cut and paste but even on comment boards that does some funky things with how things are read and translated. Qoutations turn into question marks, yadda , yadda.