US deficit down 9%

[CorvallisBMW]

It's not much, but it's a start

"The US budget deficit shrank by nearly 9 per cent in the last fiscal year, according to government figures published overnight, as spending decreased and revenues rose."

"In terms of the deficit's ratio to economic output, the 2010 budget gap was 8.9 per cent of gross domestic product, down from 10.0 per cent of GDP in fiscal 2009."

http://www.news.com.au/business/us-d...-1225939468563

Interestingly enough, I read the same story on Faux News and all they did was exclaim about how the deficit was "Over 1 Trillion dollars" and "out of control". Funny how they forgot to mention it went down nearly 10%....

[SeriousBusiness]

I really don't have a comment on the deficit, but you read American news from an Aussie news site?

[joshh]

It's not much, but it's a start

"The US budget deficit shrank by nearly 9 per cent in the last fiscal year, according to government figures published overnight, as spending decreased and revenues rose."

"In terms of the deficit's ratio to economic output, the 2010 budget gap was 8.9 per cent of gross domestic product, down from 10.0 per cent of GDP in fiscal 2009."

http://www.news.com.au/business/us-d...-1225939468563

Interestingly enough, I read the same story on Faux News and all they did was exclaim about how the deficit was "Over 1 Trillion dollars" and "out of control". Funny how they forgot to mention it went down nearly 10%....

Oh really....

http://www.foxnews.com/politics/2010/10/15/government-set-announce-second-year-trillion-plus-deficit/

The Congressional Budget Office last week announced the deficit for the 2010 budget year that ended Sept. 30 was $1.29 trillion. That's down by $125 billion from the $1.4 trillion in 2009 -- the highest deficit on record. It attributed money recovered from the Troubled Asset Relief Program for the decrease.

lol

[mrsleeve]

LOL at the OP

[Vedubin01]

[reelop19]

Ahh you guys beat me to it. I really enjoy telling a liberal deuschebag when he's wrong.

[CorvallisBMW]

lulz, good job, you found an article with that mentioned in it.

The article I read, however, didn't have any mention. So I stand be my statement.

[z31maniac]

The DEFICIT is 9% lower, but that still means 1.3 TRILLION was added to the DEBT this year.

That's why I really hate that they break it down that way. Darrin I know that you understand the difference, but most of the general public does not, which is precisely why they represent it in such a manner.


Really good article by Ron Howard on political campaigns on huffingtonpost a few days ago as well.

[CorvallisBMW]

^ very true, I am not arguing that it's anywhere near low enough. But at least the yearly debt increase is coming down. Like I said, It's not much, but it's a start.

[z31maniac]

Was the bailout on this years or last years "budget?"

I dont' remember.

[joshh]

It was the first article I found. Even Shepard Smith talked about it today.


I'm glad it went down. But the future over rides that positive.

[Raxe]

Wonder how much they'd save if they weren't spending a quarter billion a day on war?

[ck_taft325is]

Wonder how much they'd save if they weren't spending a quarter billion a day on war?

Worlds biggest and best army takes a big income. And yeah, I do wonder. But I imagine it's a quater a billion a day. And where does that figure come from?

[Raxe]

It's one of the two commonly accepted average figures, the other being $720 million per day. If you really want some references here's a few:

http://www.washingtonpost.com/wp-dyn...092102074.html says $280 million or $720 million

http://www.msnbc.msn.com/id/11880954/ says $200 million

http://money.cnn.com/2008/06/11/news...ex.htm?cnn=yes says $430 million

[Kansas]

^ very true, I am not arguing that it's anywhere near low enough. But at least the yearly debt increase is coming down. Like I said, It's not much, but it's a start.

Government spending, overall, hasn't really changed much at all in the last 4 years.

Was the bailout on this years or last years "budget?"

Last year's, iirc.