Comments on: CBO Projected Deficit, by Source

By: Deficit confusion, augmented by Steele « Later On

Deficit confusion, augmented by Steele « Later On — Sat, 18 Jul 2009 20:23:03 +0000

[...] last month, the New York Times published the results of an examination from the non-partisan Congressional Budget Office. The report, which examined federal spending stretching back almost a decade, found that Obama [...]

By: links for 2009-07-17 « Overton’s Arrow

links for 2009-07-17 « Overton’s Arrow — Sat, 18 Jul 2009 00:36:20 +0000

[...] CBO Projected Deficit, by Source | The Big Picture (tags: CBO government deficit year data graph) [...]

By: Mark E Hoffer

Mark E Hoffer — Thu, 16 Jul 2009 22:35:44 +0000

and, differently, if one cared to Understand the Powers, as they were divided, granted by The Constitution, they’s Understand, everything, about the Fact of Gingrich’s (R) -revolution in ’94..

seriously, suck on that (D), deluded, demagogues..
http://www.thefreedictionary.com/demagogue

By: Mark E Hoffer

Mark E Hoffer — Thu, 16 Jul 2009 22:30:22 +0000

Pat G. Says: July 16th, 2009 at 3:54 pm
You need to find out what those guys in the CBO are smoking. Those “projected” budget deficit numbers are a pipe dream.
~~

yes, exactly, the CBO’s, own, Books are Cooked–so, that they’ll not even Fork, yet are Forked.
~~

Past that, w/this: ” But those who point out the surplus have to be more honest and realize that was not sustainable, as it was built on a bubble. That’s all.”– OfT, above..
~~

though, if they were fixin’ to speak the *Truth, they’d, vociferously, proclaim that, much like Dukakis’ Massachueets Mirage, WJC’s “feel good” ’90′s, was built on a set of circumstances, respectively: Tax Rates–the Higher, the Better–re: MA, and Debt Levels–then Lower, now NOT, that Neither would EVER see, the Tolerance for, or the Ability to re-Create, again..
~~

thx, cv, FOR the inspiration.. (:

By: nenmoonia

nenmoonia — Thu, 16 Jul 2009 22:29:27 +0000

A good portion of Bush’s term was also built on a bubble, a housing/credit bubble that was basically unprecedented in modern times. Yet he still had a huge deficit.

Give credit where credit is due, Clinton’s surplus is stuff you can only dream of nowadays.

By: James

James — Thu, 16 Jul 2009 19:56:53 +0000

But those who point out the surplus have to be more honest and realize that was not sustainable, as it was built on a bubble. That’s all.

———–

See:

http://spreadsheets.google.com/pub?key=pZNIryBhrE7mxE7u8tk2GNw&gid=1

The chart is based on data from the GPO:

http://www.gpoaccess.gov/usbudget/fy05/hist.html

These are fiscal years (so, 2000 runs from Oct 1, 1999 to Sep 30, 2000) during Clinton’s terms and into Bush’s far enough to capture the impact of the bubble burst and 911.

Blue: revenue from individual taxes
Red: revenue from corporate taxes
Yellow: Budget deficit
Green: Budget deficit with Social Security surplus stripped out (the
true deficit)

The Nasdaq peaked in March of 2000, of course. Income tax revenue got a big boost from capital gains.

By: Pat G.

Pat G. — Thu, 16 Jul 2009 19:54:13 +0000

You need to find out what those guys in the CBO are smoking. Those “projected” budget deficit numbers are a pipe dream.

@MA

I agree with your “blowing” pun. With the exception of Hillary, who cares what Clinton was doing in the oval office?

By: Onlooker from Troy

Onlooker from Troy — Thu, 16 Jul 2009 19:29:19 +0000

Agreed MA. I don’t want to get into a long what if argument that is worthless. But those who point out the surplus have to be more honest and realize that was not sustainable, as it was built on a bubble. That’s all.

By: bruerr

bruerr — Thu, 16 Jul 2009 18:37:12 +0000

@super_trooper agree with alfred, nice recollection, appreciate the reflection.

@alfred, … “And the trickle down went where?” appreciate the wry humor sir.

Barry, another good chart.

Perot, thanks. Nice work.

By: Marcus Aurelius

Marcus Aurelius — Thu, 16 Jul 2009 18:21:24 +0000

Certain people should feel like complete idiots for blowing (forgive the pun) Bill Clinton’s sexual peccadillos into crimes against the Republic. Obviously, the man was the best manager and executive we’ve had in decades. What would have happened under Gore? Who knows? We do know the results of faux conservatism.

Reminds me of the old “What If” skits on SNL. My favorite was “What if Eleanor Roosevelt would have been able to fly?” which was followed by various pundits claiming everything from the avoidance of WWII to the Axis powers taking over the world.

To quote Rumsfield: There are things we know we know.