Holy F***king Shit, Deficit hits $374.22 Billion!

bokmeow · Oct 20, 2003

Gov. red ink hits record in 2003

Fiscal deficit reaches $374.22B, as officials warn it may be even higher in 2004 budget year.
October 20, 2003: 3:34 PM EDT

WASHINGTON (Reuters) - The U.S. government posted its largest budget gap in history in the just-ended 2003 fiscal year, $374.22 billion in red ink, the Treasury Department said Monday.

That broke the previous record of more than $290 billion posted in fiscal year 1992. As a percentage of the economy, the deficit totaled 3.5 percent, the largest since 1993. In its final monthly budget statement for fiscal 2003, the Treasury also said the government posted a $26.38 billion surplus in September, the final month in FY03.

Administration officials warned the deficit, which they blame on sluggish government revenues and rising expenses related to the war on terrorism, may be even larger in the current 2004 budget year, which began Oct. 1.

"Although the deficit is still projected to increase in 2004, and will likely exceed $500 billion even with a strengthening economy, we can put the deficit on a responsible downward path if we continue pro-growth economic policies and exercise responsible spending restraint," said Joshua Bolten, who heads the White House's Office of Management and Budget, in a statement issued with the budget figures.

Treasury Secretary John Snow said a rebounding economy should help the budget going forward. "As the economy grows, government revenues will go up, which will help keep the deficit under control," he said in a statement.

The September numbers, while well below the administration's official forecast for a $455 billion budget gap, were close to Wall Street and Congressional Budget Office projections. A Reuters survey of Wall Street analysts found an average forecast of a $25 billion September surplus. The CBO, Congress' nonpartisan budget watchdog agency, on Oct. 9 had projected last year's $374 billion figure precisely.

The record gap will likely fuel political bickering over the deficit. The previous record deficit was posted by President Bush's father, and was a major issue in his losing bid for reelection in 1992. In 2000, the government posted a record surplus of $236.92 billion.

Bolten said it was "an encouraging sign" that the budget picture had improved since the administration's $455 billion forecast made last summer.

"There's nothing here to cheer about," countered Tom Kahn, Democratic staff director for the House of Representatives Budget Committee. "It's still by far the biggest deficit in American history."

gunrock46 · Oct 20, 2003

Do whatever the fuck you can and get all the retards outta office. That includes Bush and Co. Also get as many old men outta congress you can as soon as the elections. I'm all ready to start voting for the crazy fringe tree huggers just to see how different of a change they can make. Anything they bring can be better than the fuck-offs in office now.

genjiglove · Oct 20, 2003

Is that alot?

Force · Oct 20, 2003

Woohoo. Hooray for tax cuts!

Matt

striderpunk · Oct 20, 2003

Force said:
Woohoo. Hooray for tax cuts!

Matt

hooray for higher taxes through your county

wow that's sig material :eye:

c.t.h · Oct 20, 2003

Remember boys and girls, FDR made deficit spending normal :P

NeoSneth · Oct 20, 2003

who cares about a deficit.

do you pay on it
?

do we pay on it?

do people come to collect on it?

Loopz · Oct 20, 2003

Remember boys and girls, FDR made deficit spending normal :P

Yeah, he kinda had his hands full, trying to win a war against Nazi Germany and Japan. Dumbfuck. Meanwhile, Reagan and GWB both managed to explode deficits to record levels.

Liberals may tax and spend...but what's worse? Spending money you have on things that benefit the nation, or spending money you don't have on nation-building experiments that may or may not work ($87B for Iraq)? Can anyone explain why this administration has $15B earmarked for a healthcare system for Iraqis, yet refuses to spend a nickel on the millions of uninsured children in America? Indefensible, irresponsible, completely without a fucking clue or proper priorities. Then again, what else can you expect from an administration who made it a priority under request of the Saudi Arabian government to have all of Osama bin Laden's relatives flown safely out of the country for fear of reprisal, despite the FBI's fervent desire to interrogate them. The Bush administration is crooked as fuck, and only in it to fatten the wallets of those involved in their criminal activities.

X · Oct 20, 2003

Loopz said:
The Bush administration is crooked as fuck, and only in it to fatten the wallets of those involved in their criminal activities.

Prove it.

OrochiEddie · Oct 20, 2003

X said:
Prove it.

I am not going to say that they do crooked things in every action but, honestly do you REALLY think we went to Iraq for the people. Hell no man if don't see that we were there for the oil you're freaking blind.

RabbitTroop · Oct 20, 2003

genjiglove said:
Is that alot?

Agreed... It's gotten to a point none of us can even fathom what that amount of money means... We will never have it; we could never spend it...

It's just some big number that means nothing. Might as well say:

Deficit is now $4923092309290329009233293090293032321 Jillion dollars!

It's all the same at this point... and that is what is keeping us sane. We can't relate, so we can't be angry... Oh wow 375Billion is a lot... right?

-Nick

DangerousK · Oct 20, 2003

Truthfully I cannot defend Bush anymore.

He does nothing to help out the US economy.

Iraq, Iraq...etc.

He is incompetent.

Not saying it is possible to accomplish a lot in office the first four years, but it's better to start the process so people see that you're trying to turn things around.

Military is more of his prime concern.

Funny, almost like Dwight David Eisenhower's farewell speech warning against military buildup is coming true. Then again who knows.

I wonder if we will ever get a President who gives a shit about the country. I have nothing against a focus on foreign affairs, but when the primary focus is always that, I think there is a problem.

So who really was the last great President that accomplished a lot?

FDR.

Kind of sad as seeing nearly 60 years since his death we have not had a President who could match him pound for pound or even come close...well JFK had good ideas...but who knows if he would have been any good if he hadn't been asassinated.

c.t.h · Oct 20, 2003

What did FDR do that you consider so fantastic?

Yes, he was a good wartime leader, but the problem was, the social programs he created to be TEMPORARY fixes were never ended, and it just kept going and going and going...

aria · Oct 21, 2003

FDR started it, but Reagan perfected it

Reagan was the Japan of Deficit Spending

-as for the issue itself, I really don't care enough yet.

Crovax · Oct 21, 2003

c.t.h said:
What did FDR do that you consider so fantastic?

Yes, he was a good wartime leader, but the problem was, the social programs he created to be TEMPORARY fixes were never ended, and it just kept going and going and going...

Oddly enough, I actually agree with you for once, c.t.h. WWII got us out of the depression. historically, FDRs programs did make the people feel better that someone was doing something, but did little or nothing to solve the actual problem. That's the reason American economists were so worried about the aftermath of WWII and decided to pour so much money into rebuilding Western Europe and Japan--to ensure future markets for American goods, and hence avoid a recession or depression.

however, i gotta say that I agree with Bobak even more

Bobak said:
FDR started it, but Reagan perfected it

All along, Bush has done things that made people believe that he was using the Reagan playbook for much of his policy. This deficit now proves it without a doubt. Bush needs to go.

TheBigBB · Oct 21, 2003

They need to sell it on eBay. I'd pay $50 shipped if I didn't already have the rom.

johnroche · Oct 21, 2003

dmhawkmoon said:
They need to sell it on eBay. I'd pay $50 shipped if I didn't already have the rom.

Well, I have the NGF version myself, so blah. :make_fac:

Electroman · Oct 21, 2003

Sometimes I hate this fucking country, sometimes I love it.

But I hate it more often.

Imagine a world not driven by money, and instead it is driven by logic, intellect, and spirituality.

Just imagine... :spock:

RabbitTroop · Oct 21, 2003

Electroman said:
Sometimes I hate this fucking country, sometimes I love it.

But I hate it more often.

Imagine a world not driven by money, and instead it is driven by logic, intellect, and spirituality.

Just imagine...

Nahhh, someone would buy that world and slap a Pepsi logo on it... just so you know...

-Nick

MegaDrive20XX · Oct 21, 2003

Electroman said:
Just imagine...

I'm imagining... imagining... imagining.... ZILCHO! Never going to happen, doesn't matter what country or creed, mankind are essential bastards when it comes to these matters. No one has the right be-all-end-all solution, thus we will continue in a cyclic rate of BLING, BLING minded politicians who spend money they don't have... who press and get the collecitve majority to want to depend on the Federal Government even more than they do now... so those very ppl who are still perpetuating the Temporary fix F.D.R. began, can make it easier for Iron Boot Diplomacy here in about a generation or two... after most are even more femminized and will just go along with anything because it's convient versus having any real reason to have a pulse. *It's all apart of the plan of a (Quote Geroge Bush Sr.) "New World Order"... which has been more or less in our face on the backs of the dollar bill for what it is all along, but since the same slack jawed faggots allow and want more government control... a night of broken glass someday in the USA is inevietable. Of course they'll always be resistance to something that shouldn't be, but the powder keg is being stuffed, and eventually a spark will light it and KABOOM!

Deficit... Foreign Affairs... Oil... Idiotic Politicians... Liberal thinking... "Gimme' Gimme" Slack Jawed faggots... and a generation of men who never had a chance to see real men in action, forever walking in the shadows of greater men. What else did you expect. Prepare yourself mentally man, cause like it or not the famous GWB saying: "Your either with us or against us" will be ringing very true in about 10 to 25 years... and when it does you can remember MD20XX told ya so. Keep your eyes peeled... read between the lines... obey the laws as best you can... question everything, and be ready to stand against the rising of the tide when it comes. OR help perpetuate more "Oh but were safe now" bullshit, ensuring that anyone a hundred years from now (should there be such a thing) could hold a conversation with any one of us, as they'll be too stupid and assimilated to know how.

{MD20XX goes back to imagining the world Electroman mentioned.}

FeelGood · Oct 21, 2003

X said:
Prove it.

you could just save us the time of typing and read the following book:

Fortunate Son: George W. Bush and the Making of an American President by J. H. Hatfield

and of course, my favorite,
http://www.google.com/search?hl=en&ie=UTF-8&oe=UTF-8&q=silverado+bush+bank&btnG=Google+Search

just read through all those links, or at least until you get the idea that enough people relaying similar information can't be a bunch of lyin' varmints.

Hell, even add in the search term coccaine in that string and see what you find.

Good stuff.

dullbuoy · Oct 21, 2003

George junior is just following his dads lead.

try to look like world saviors and start a war while not trying to improve the homeland economy.

sidenote: the Ultramar gas station near my house has recently changed their name to Homeland Petroleum.

Argentina94 · Oct 21, 2003

Didn't the Clinton administration eliminate the deficit during it's second term?

Force · Oct 21, 2003

Argentina94 said:
Didn't the Clinton administration eliminate the deficit during it's second term?

If what I understand is correct, clinton just balanced the budget so the goverment wasn't deficit spending. But he didn't eliminate the 5 trillion dollar deficit or whatever. He just made it so we weren't going further into the hole. Basically he just cleaned up the mess that a few terms of republican leaders created.

Matt

johnroche · Oct 21, 2003

dullbuoy said:
George junior is just following his dads lead.

try to look like world saviors and start a war while not trying to improve the homeland economy.

sidenote: the Ultramar gas station near my house has recently changed their name to Homeland Petroleum.

If anything, he's probably some unholy blend of Reagan and Bush Sr.--trying to be world heroes while ignoring the domestic economy like his dad, and using Reagan's "voodoo economics"--a term which I believe might have been coined by Bush Sr. during a primary debate. :spock:

Holy F***king Shit, Deficit hits $374.22 Billion!

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