The budget is a mess even with the cost of the nationbuilding excluded.
State of the Union Thread
- Thread starter DNK
- Start date
ravensfire
Member of the Opposition
Completely agree with Integral. Look at the challenges for balancing the budget - a down economy, balance of trade issues, environmental issues, Iraq, Afghanistan, rebuild/requip the military, homeland security expenses. Add into that heath care issues and the continual debates on taxes and social security and education. Ouch - difficult job ahead.
-- Ravensfire
-- Ravensfire
Well, those predictions are made using the forecasting models at the BEA, CEA, and Fed. So he has to be making some progress or the models won't show any improvement.
The result? He's cut the deficit from $400 billion in 2004 to $250 billion in 2007. Then again, the new stimulus package is exactly $150 billion, which nulifies all the progress we made in the last three years.
But yes, the hard part will be reducing the deficit in the next four years, with a weakened Fed and shaky economy. The next guy has his work cut out for him.
Aren't those forecasts based on the "sunset" of the tax cuts that are due to expire around 2010?
And the new deficit figures, do they take into account all those lovely supplemental bills that the President and Congress somehow leave out of the original budget?
Integral
Can't you hear it?
Bush wants to double Federal funding in the sciences.
Mmmm...funding...
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I know the Congressional models are based on the tax cuts being repealed in 2010. I am unsure if the Fed and BEA follow the same practice.
And the deficit thing is my own calculation; I just find it funny that Bush managed to reduce the deficit by $150 billion and now wants to turn around and spend that $150 billion on fiscal stimulus.
In general, the deficit figures at the beginning of the year do not take into account the $180b supplemental packages that go to Iraq and Afghanistan.
Mmmm...funding...
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Yankee said:
I know the Congressional models are based on the tax cuts being repealed in 2010. I am unsure if the Fed and BEA follow the same practice.
And the deficit thing is my own calculation; I just find it funny that Bush managed to reduce the deficit by $150 billion and now wants to turn around and spend that $150 billion on fiscal stimulus.
In general, the deficit figures at the beginning of the year do not take into account the $180b supplemental packages that go to Iraq and Afghanistan.
amadeus
rad thibodeaux-xs
$500 billion Mediscare programs and $22 billion for No Child Left Behind (for fiscal year 2007) isn't helping the situation much. We're spending addicts, except there's nobody around to cut up the credit cards and no repo men that can haul the Congress away.
Up or down votes coming in February 2009.
Charities don't pay taxes, but Bush wants them on the federal take.
cubsfan6506
Got u
Why the hell do all these people stand up for things they don't support.
Respect for the President. Or at least the office of the President.
Bush singing the same doom and gloom social security song he was singing as a drunk back in the late 70's.
amadeus
rad thibodeaux-xs
Just wait until the penis contest starts and Ted Kennedy wants to triple funding, Harry Reid pops another vein in his head attacks Rush Limbaugh for some unknown reason, and weenies like Olympia Snowe and Richard Lugar will go along with it mindlessly like they always do.Bush wants to double Federal funding in the sciences.
Mmmm...funding...
Comprehensive Immigration Reform - Freerepublic just blew up.
What book is Pelosi reading? Is that the speech?
cubsfan6506
Got u
More welfare projects for Iraq
Congress isn't childish enough?
Seems to be. Everyone's got a copy.
amadeus
rad thibodeaux-xs
It's probably the new Capitol menu. Mondays is snow leopard served with a side of the Hope diamond.
Integral
Can't you hear it?
After the speech:
Bush: Speaker Pelosi, what do you think about the policies I outlined?
Pelosi: You were speaking? Sorry, but I was reading Harry Potter and couldn't hear a word you said...
