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The government reported the federal deficit for just the month of February was $223-billion dollars. That’s the largest one month deficit ever…and larger than the entire annual deficit just four years ago in 2007***...

Just sayin'...

***the mention of 2007 is for contrast, please don't construe as some sort of endorsment or even the 160 billion or whatever it was as an accurate number

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The Constitution. Every Issue, Every time. No Exceptions, No Excuses.

 

"When the people fear the government, there is tyranny. When the government fears the people, there is liberty."---Thomas Jefferson

 

"That's what governments are for... get in a man's way."---Mal Reynolds Capt. of Serenity, "Firefly-Class" spaceship

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quote:
One point to remember, in 2007 we were fighting 2 wars that were not on the books. One thing Obama did was put the cost of our wars on the books.
Looks bad, but then , hell, it is, so it should look bad, not hidden.


The actual deficit for the year 2007 was $500 billion including borrowed Social Security funds. The numbers can be found here:
http://www.treasurydirect.gov/.../histdebt_histo5.htm

Actually the wars were included in the budget:
quote:
Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish.
http://blog.heritage.org/2009/...deficit-in-pictures/

Likewise there was no Clinton surplus because Clinton borrowed money from Social Security. The numbers can also be found at the same website as above with a proper discussion of this facts here: http://www.craigsteiner.us/articles/16

Also note:
quote:

How Clinton managed to claim a surplus was that while the general operating budgets ran deficits but Clinton borrowed from numerous off budget funds to make the on budget fund a surplus.

For example, in 2000, Clinton claimed a $230B surplus, but Clinton borrowed
$152.3B from Social Security
$30.9B from Civil Service Retirement Fund
$18.5B from Federal Supplementary Medical insurance Trust Fund
$15.0B from Federal Hospital Insurance Trust Fund
$9.0B from the Federal Unemployment Trust Fund
$8.2B from Military Retirement Fund
$3.8B from Transportation Trust Funds
$1.8B from Employee Life Insurance & Retirement fund
$7.0B from others

Total borrowed from off budget funds $246.5B, meaning that his $230B surplus is actually a $16.5B deficit.
($246.5B borrowed - $230B claimed surplus = $16.5B actual deficit).

If there is ever a true surplus, then the national debt will go down.

http://open.salon.com/blog/bru...nton_balanced_budget


Obama also doesn't mind cooking the books either:
http://www.craigsteiner.us/comments/166
quote:
Originally posted by Mr.Dittohead:
Universal default.

The USA can just declare all public debt to be void. They can just write it off. Then, we can start anew with a balanced budget.


It's not that simple, you cannot bankrupt without paying a price. The default of US treasuries would in fact be a domino effect of the collapse of entire economies. The effect would be cataSTROPHIC, worse than the 1930's.

That is precisely why the world banking systems are putting together a new reserve currency called the SDR. When the crap hits the fan, we will be left to collapse into our own filth while the rest of the world moves on, no one will come to our aid. Can you say third world status?
quote:
Originally posted by Ronnie P.:
By 2035 entitlements will make up the entire federal budget. Our children will pay 1 trillion per year in interest alone which is almost twice our national defense budget. One senator said a balanced budget isn't even possible for 15 years.


It will never reach that point. We will collapse and the U.N. will take over. Our resources will be confiscatewd to pay our debts and we will become slaves to the NWO. Gone will be the Constitution, guns, and individual rights along with about 90% of the population.
quote:
Originally posted by 73RangerXLT:
quote:
Originally posted by Ronnie P.:
By 2035 entitlements will make up the entire federal budget. Our children will pay 1 trillion per year in interest alone which is almost twice our national defense budget. One senator said a balanced budget isn't even possible for 15 years.


It will never reach that point. We will collapse and the U.N. will take over. Our resources will be confiscatewd to pay our debts and we will become slaves to the NWO. Gone will be the Constitution, guns, and individual rights along with about 90% of the population.


NWO? Diddle, is that you? LOL

The UN can't find it's own rear, much less 'take over' anything. Using 'infowars' and 'prison planet' as sources will rot what's left of your brain.
quote:
Originally posted by 73RangerXLT:
quote:
Originally posted by Mr.Dittohead:
Universal default.

The USA can just declare all public debt to be void. They can just write it off. Then, we can start anew with a balanced budget.


It's not that simple, you cannot bankrupt without paying a price. The default of US treasuries would in fact be a domino effect of the collapse of entire economies. The effect would be cataSTROPHIC, worse than the 1930's.

That is precisely why the world banking systems are putting together a new reserve currency called the SDR. When the crap hits the fan, we will be left to collapse into our own filth while the rest of the world moves on, no one will come to our aid. Can you say third world status?


I don't agree with you often but this is one of those times. The difference being that the world currency change is not in case our economy fails. The world currency change will probably happen within the next year to two years. This will happen because of our debt and the fact that we are printing money to pay these debts. The world has caught on to our little gig. When this happens look for prices on everything we buy to go through the roof because our dollar will be worth very little.

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