US Budget Deficit for 2009 Projected to Be $482 Billion - Political Ravings Forum

WiseOne · #1 07.29.2008

Quote:

WASHINGTON — The White House on Monday reported a projection for a $482 billion budget deficit for the budget year ending in September 2009, a number that would be the highest number recorded.

The budget office predicts the economy will grow at a rate of 1.6 percent this year and will rebound to a 2.2 percent growth rate next year. That's a half percentage point more than predicted but also the widely cited "blue chip" consensus of leading economists. The administration also sees inflation averaging 3.8 percent this year, but easing to 2.3 percent next year — better than the 3.0 percent seen by the blue chip panel.

Read More Here >> Fox News

WiseOne's Comments, take a WILD guess what that means? That's right, better get ready for some serious tax hikes next year!!!

Antiochus · #2 10.01.2008

This is old news. The Bush presidency failed because of its tax cut programs linked with its very interventionist policies.

Lets just be objective. In 2000, the government had a revenue of 1004 billions a year with income tax. Added to its lower spendings (compared to the current administration), the last Clinton year had a surplus of more than 230 billions.

But by 2004, the Bush administration managed to reduce the revenue on the income tax to 800 billions while significantly augmenting the government spendings. It took them years to rise it back to 1000 billions, but it has crippled the economy and the increase in the spendings is still too dramatic for the economy to actually support it. We now count an increase of 60% in the general spendings (90% in the military). This policy is downright dumb after tax cuts and the Neo-Con philosophy has shown its incapacity to be in power.

wdp · #3 10.04.2008

"Spending like a Republician" takes on new meaning.

Bush43 has taken care of his rich and politcally connected friends to the point that our economy is on the verge of collapse.

Bush43 is the first leader of a nationstate that went to war and cut taxes. It is obvious to me that a MBA from Harvard is vastly overrated.

There are a couple of notes that will follow Bush43's legacy. 1. Borrow and spend 2. Apparently, God did not pick him for President. If God did, in fact, pick Bush43 to be our 43rd president, then it is obvious that the God that did pick Bush43 was the "False Profit". 3. Bush43 has lost all credability in America and the rest of the world. The US went from the most respected nation in the world to the most feared.

WiseOne · #4 10.04.2008

Quote:

Bush43 has lost all credability in America and the rest of the world. The US went from the most respected nation in the world to the most feared.

Now, that is the DEFINITE truth if I ever heard it. He sure has done that to be sure. I have NEVER seen a Republican President spend like W. has! I voted for him twice and I can't wait for him to get OUT. I don't think America will EVER get out of this hole we are in now. I truly fear for the future of America as I think this all is too far gone.

metermaidbf1 · #5 10.06.2008

Damn Democrat Congress unlaeashed ,going on vacation.

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