Federal Deficit Sharply Lower on Growing Revenue

[eldermike]

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

http://www.foxnews.com/story/0,2933,289128,00.html

 

[SimplyMe]

http://http://www.foxnews.com/story/0,2933,289128,00.html

I'm sorry, the link is broken on your article. If it says what I expect, however, it is misleading. The deficit is not lower, as in the amount of money the government is spending, rather the rate that debt is growing has decreased but is still growing extremely fast -- over $1 billion per day.

Edit: Link is now working -- and the amount the debt is growing has shrunk to only about $700 million per day this fiscal year.

 

[eldermike]

I'm sorry, the link is broken on your article. If it says what I expect, however, it is misleading. The deficit is not lower, as in the amount of money the government is spending, rather the rate that debt is growing has decreased but is still growing extremely fast -- over $1 billion per day.

Edit: Link is now working -- and the amount the debt is growing has shrunk to only about $700 million per day this fiscal year.

I just tried the link and it's working for me?

 

[SimplyMe]

I just tried the link and it's working for me?

Not sure why it didn't work before, maybe some glitch at Fox. As I mentioned in my edit, the link did work when I tried several minutes later.

 

[eldermike]

I'm sorry, the link is broken on your article. If it says what I expect, however, it is misleading. The deficit is not lower, as in the amount of money the government is spending, rather the rate that debt is growing has decreased but is still growing extremely fast -- over $1 billion per day.

Edit: Link is now working -- and the amount the debt is growing has shrunk to only about $700 million per day this fiscal year.

With the June surplus, the total deficit through the first nine months of the budget year, which began Oct. 1, is $121 billion, down 41.4 percent from the same period a year ago, when the deficit totaled $206.5 billion.

Can you show me where this is wrong?

 

[SimplyMe]

Can you show me where this is wrong?

Show where what is wrong? I already admitted that the rate of deficit spending is decreased. I mentioned that the article is misleading, however, and it is. For the year the deficit is still projected to be $205 billion as compared to $206.5 billion last year (both numbers from the article). Simply because federal spending falls in the early summer months and revenues have improved does not correspond to the "Federal Deficit Sharply Lower". Not to mention that every day the federal debt sets new records for largest ever.

 

[eldermike]

Show where what is wrong? I already admitted that the rate of deficit spending is decreased. I mentioned that the article is misleading, however, and it is. For the year the deficit is still projected to be $205 billion as compared to $206.5 billion last year (both numbers from the article). Simply because federal spending falls in the early summer months and revenues have improved does not correspond to the "Federal Deficit Sharply Lower". Not to mention that every day the federal debt sets new records for largest ever.

I don't think it's trying to mislead. What's it showing is that revenue growth is outpacing spending growth. That's the only way to solve the issue of deficits. That's good news.

 

[Billnew]

I tried to find this story, but couldn't. Well, something similar, I wanted the revenue listing.

It's easier to show revenue growth, before and after, tax cuts. Then to argue about debt and spending.

Even back when we had billions in "surplus", we were still increasing the national debt. Politicians will show people the silver lining in everything.

We need tax cuts to be permanent, but we need spending control. The reduction in taxes spawn growth,
which reduces unemployment, and increases productivity. And with more people working, more money being spent, more money comes in.
It is less effective during normal economics times, but lower taxes(to a point) will put more money back into the economy, as long as this money is being spent, it will be taxed.