$102.8 billion deficit ... no not a year ... just July

http://www.msnbc.msn.com/id/26162435/

But, cutting taxes produces higher tax revenue. That's what we've been told for 7 years since a $200 billion surplus was squandered.

The federal budget deficit soared in July, pushed higher by economic stimulus payments and $15 billion in outlays to protect depositors at failed banks.

The Treasury Department reported that the deficit for July totaled $102.8 billion, nearly triple the $36.4 billion deficit recorded in July 2007.


Sorry to the guy who replaces W - you've got a mess only the Saudi Princes could fix. Wonder if W will ask his boys to bail us out the way they did when he failed to tap oil in Texas.

What a sham. Republicans defend. Please.

I'd understaned that kind of deficit if we had universal health care or affordable college tuition.

 

I figured this thread would be about Tribune.

 

I wonder if part of that is a portion of the Fannie Mae/Freddie Mac debt. Becuase that debt, which the federal government assumed when it took them over, was, I believe greater than our annual national debt. So that figure could really mess up deficit numbers for times to come.

BUT, I don't know if that's in the number in the story or not.

 

Yeah, stories about national debt are boring. that's why incumbant politicians keep office. they rely on an ignorant and apathetic electorate.

 

It's the trickle-down economic theory: When they get done with their term, all that's left is a trickle of money!

 

For years and years, from the 1960s to the 1980s, Democrats turned out deficit budgets and basically just accepted deficits as a fact of life. The last President for 25+ years to turn out a balanced budget was LBJ in 65 or 66 or so. The Republicans howled and screamed incessantly about the need for a balanced budget.

Nobody screamed louder about balanced budgets than Ronald Reagan. When he became president, of course, he blew the budget deficit beyond all limits ever previously imagined.

During the Clinton years of course, the Republicans returned to the constant wailing over balancing the budget. Bill Blowjob Clinton did balance the budget (not really, but he came light-years closer than any other Prez in the last 40 years). In comes GWB, a spiritual heir of Uncle Ronnie, and once again the deficit gets blown to the moon.

 

Cutting taxes and holding spending works.

Spending isn't exactly being held any more than a hot potato.

 

Wait for it.... Mutant Scrotum is surely working up another "Yawwwwwwwwwnnnnnnn...." response

 

only christians were stupid enough to vote for this guy ... twice.

 

What is yawn-worthy about this topic?

 

Mutant Scrotum. There's one I haven't heard.