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U.S. Deficit Falls Faster Than Expected

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  • U.S. Deficit Falls Faster Than Expected

    http://finance.yahoo.com/blogs/daily...0198.html?vp=1

    "Relative to the size of the economy, the deficit this year—at 4.0 percent of gross domestic product (GDP)—will be less than half as large as the shortfall in 2009, which was 10.1 percent of GDP."


    Here's an excerpt from the CBO's discussion of what changed since the February projection:

    The decline in the projected deficit for 2013 stems largely from a boost in estimated revenues as well as from expected payments to the Treasury by Fannie Mae and Freddie Mac. The changes in CBO’s baseline for the 2014–2023 period result mainly from lower projections of outlays (primarily for Social Security, Medicare, and Medicaid). As a result of those changes, CBO now projects that, under current law, debt held by the public will total 74 percent of GDP in 2023, down from the 77 percent the agency projected in February.

  • #2
    Re: U.S. Deficit Falls Faster Than Expected

    With the FED continuing to create out of thin air, $85 billion / month, we'll see.

    From SAT's quote above:

    The decline in the projected deficit for 2013 stems largely from a boost in estimated revenues ...
    Of course, the deficit will go down if spending stays the same (it won't; it will increase) and taxes (revenue) are boosted. Clinton pulled the same stunt in the 90's as did Carter in the latter part of the 70's. Republican's tend to keep taxes down by borrowing more, thereby placing the future tax burden on the not-yet-born. But when the dems raise taxes, that is money that may have been passed on to the not-yet-born, that can't be passed on because the government took it. Bottom line, either way, as each generation lives beyond it's means, it burdens the next generation .. or in the case of the U.S. now, multiple generations.

    Note: There is NOT a cut in spending and there IS an increase; a huge increase in the not to distant future.

    Rest assured, the masses will get poorer and the elitist's economic games will cause them to get richer. Poor souls that the scoundrels are, their richness is less than a vapor. So much suffering imposed for nothing.


    Proverbs 17:
    1
    Better is a dry morsel, and quietness therewith, than an house full of sacrifices with strife.

    Their (white) house is full of strife.

    Proverbs 16:
    16
    How much better is it to get wisdom than gold! and to get understanding rather to be chosen than silver!

    Issachar .. just ramblin' about ...
    The church is on Earth to save souls from a lost world, not to save the world from lost souls.

    Man learns about history, not from history. To learn from history requires wisdom. Cut off from God, he has none, so history repeats; no new thing under the sun.

    I saw ten thousand talkers whose tongues were all broken - dylan

    Psalms 122:8 For my brethren and companions' sakes, I will now say, Peace be within thee.

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    • #3
      Re: U.S. Deficit Falls Faster Than Expected

      The dow is too high right now, due to them relying on the fed and them printing money. But when that stops, it may come down like a house of cards for sure. The things they have faith in are not good at all.

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