25-11-2003 02:26									#1
	U.S. budget deficit "out of control" Enter the AD-FREE zone

Goldman Sachs has issued a warning.

Bush is running a deficit of a a quarter of a trillion dollars with no end in sight.

That will be good for the global economy (not).

Didn't George Bush 1 lose control of the budget too?

	25-11-2003 03:51									#2
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Dont all republicans lose control of the budget?

	25-11-2003 03:52									#3
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Yes, its what fiscal responsibility means: some one ends up being responsible for the fiscal mess.

	25-11-2003 03:55									#4
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Goldman Sachs is raining on my parade.

	25-11-2003 04:14									#5
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Yep.

It's a bit of laugh when the Republicans warn about "tax and spend" Democrats.

	25-11-2003 04:16									#6
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Oh, but see, the Republicans don;t spend..they just don;t have the guts to slash everything they would need to after their tax cutting shcemes..after all, Americans want lower taxes and government services, you know.

	25-11-2003 04:20									#7
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There must be some sort of viscious circle going on here where the Republicans cut taxes and run up huge deficits and then the Democrats have to raise taxes when they get into office to repay Republican debt.

That's mad.

	25-11-2003 04:24									#8
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Don't try to figure out US politics, it is all madness.

Just think of this: the Rich states (that is, the ones with high per capita incomes, most liekly to benefit form Bush) generally vote Democrat (they are the ones paying for the welfare state-like NYC, which exports 11 billions a year in taxes), while the poor states (the ones that get money from the Feds well beyond their own tax rates), like Mississippi and Alabama vote hand over foot for the anti-gov reps. Go figure.

	25-11-2003 04:27									#9
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Only recently for the South going Republican. Mississippi still sends plenty of Dems to the statehouse and Congress. Their last and present governor are both Democrats, IIRC.

	25-11-2003 04:29									#10
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quote: Bush is running a deficit of a a quarter of a trillion dollars with no end in sight.

ITYM half a trillion dollars?

I'm not happy about it at all. The only consolation is that economic growth should be fast next year in part because of it.

	25-11-2003 04:31									#11
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Devaluation of debt over time reduces the real cost of the deficit. Keynes stated that we needed a deficit during recission...the problem is that we need a tax increase during expansion (not enough to stifle growth, but enough to keep inflationary trends under control.) The problem is that the moneterist keep getting involved and screw everything up. Of course, this is probably necessary since few have the political will for a tax increase simply for economic policy.

	25-11-2003 04:34									#12
	Re: U.S. budget deficit "out of control" Support Apolyton, buy Call to Power 2

quote: Originally posted by Alexander's Horse Bush is running a deficit of a a quarter of a trillion dollars with no end in sight.

Actually using an internationally comparable measure (net lending by the government sector) the deficit is well over half a trillion dollars ($600bn to be exact)

quote: Originally posted by GePap Oh, but see, the Republicans don;t spend..they just don;t have the guts to slash everything they would need to after their tax cutting shcemes..after all, Americans want lower taxes and government services, you know.

Actually GWB has presided over a large rise in government spending, both military and civilian (both of them are up by around 1% of GDP)

	25-11-2003 04:35									#13
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quote: Originally posted by Imran Siddiqui Only recently for the South going Republican. Mississippi still sends plenty of Dems to the statehouse and Congress. Their last and present governor are both Democrats, IIRC.

Yes, conservative Dems. that complaint about NYC welfare mothers..went it is NYC paying for thier subsidies and roads!

	25-11-2003 04:37									#14
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quote: Yes, conservative Dems

But not Republicans... which was the point .

	25-11-2003 04:37									#15
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quote: Actually using an internationally comparable measure (net lending by the government sector) the deficit is well over half a trillion dollars ($600bn to be exact)

Just to make clear, that also includes state and local governments, which spend a lot of money in our system, and which make spending decisions independent of the federal government and whatever Bush can come up with.

	25-11-2003 04:38									#16
	Re: Re: U.S. budget deficit "out of control" Support Apolyton, buy Call to Power 2

quote: Originally posted by el freako Actually GWB has presided over a large rise in government spending, both military and civilian (both of them are up by around 1% of GDP)

Oh, but "that kind of increase is acceptable". Don't all economist know that?

	25-11-2003 04:39									#17
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quote: Originally posted by Imran Siddiqui quote: Yes, conservative Dems But not Republicans... which was the point .

Letter of the law to defeat spirit of the law, and all that..

Hmm, from georgia..WHERE IS MY MONEY! (unless you are in Jersey, which means you were stealing from yourself for a while).

	25-11-2003 04:40									#18
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quote: Originally posted by GePap Oh, but "that kind of increase is acceptable". Don't all economist know that?

No...We don't. The military is understandable, but domestic spending was already out of control and then now...I guess I just don't understand.

	25-11-2003 04:44									#19
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quote: Hmm, from georgia..WHERE IS MY MONEY! (unless you are in Jersey, which means you were stealing from yourself for a while).

We stole it fair and square so deal .

	25-11-2003 04:52									#20
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Our federal government is running a large surplus.

	25-11-2003 04:56									#21
	Re: Re: Re: Re: U.S. budget deficit "out of control" Support Apolyton, buy Alpha Centauri

quote: Originally posted by PLATO The military is understandable

Why? The US's current enemies are a few hundred nutcases with perhaps a billion dollars between them.

Neither the terrorists or the insurgents in Iraq and Afganistan warrant the billions of extra dollars which are being spent on buying new weapons. If Bush had any idea of fiscal disipline, those purchases would be put on the backburner untill the deficit calms down.

Incidently, did anybody else read the article in The Economist on this a few weeks ago? You've got to worry when conservative magazines like that one state that the US is on the road to fiscal ruin.

	25-11-2003 05:07									#22
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Well he has to make profits for Haliburton and other campaign contributors somehow.

	25-11-2003 05:19									#23
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It's usually typical for countries at war to run large deficits.

	25-11-2003 05:24									#24
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Another consolation is that we we're nowhere near as bad off as France and Germany. In 2003, we will run a deficit of 4% or 4.5% of our economy and will have economic growth of 3%. Germany and France will run deficits of 3.5% or 4% and have no economic growth to show for it.

	25-11-2003 05:30									#25
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quote: Our federal government is running a large surplus.

Can we have it until we kick the current jackass out of office?

Bush - Spend more, tax less. Surely the kind of wise fiscal care that Repugnantcans want to show.

	25-11-2003 05:55									#26
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quote: Our federal government is running a large surplus.

Good for you.

On the other hand, you didn't have a recession in 2001 like we did, so I guess it's understandable.

	25-11-2003 06:16									#27
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quote: Originally posted by Alexander's Horse Our federal government is running a large surplus.

So is ours, and has been for 6 years straight.

	25-11-2003 06:30									#28
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That's because your debt was insanely high and you needed to reduce it.

	25-11-2003 06:38									#29
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Of course if this was a Democrat Administration some of the apologists on this thread would be screaming blue murder - you know who you are.

	25-11-2003 06:49									#30
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Vote Lib, the only party which will never run a deficit.