Please explain which tax cuts that came into effect in 2006 or 2007
account for the decrease in the federal budget deficit and the 7
percent increase in revenues. Also, what is so laudable about a 10
month budget deficit of $150 billion, other than its being $81
billion less than the budget deficit in the similar period of 2006?
Could it be that the difference is that the democrats marginally
control Congress in calendar year 2007, rather than that there has
been a change in the tax rates? Or could it just be that revenues
tend to go up when the economy is in a growth cycle?
May I also remind you that the last time there was no budget deficit,
or there was a modest surplus, was when Clinton was President?
Last, I will remind everyone that the budget deficit is a fiscal year
thing. The national debt, on the other hand is a cumulative burden,
and the Bush administration and Republican Congresses have ballooned
that national debt in 6+ years of political control in Washington.
Elliot
On 14 Aug 2007, at 6:23 PM, [EMAIL PROTECTED] wrote:
In a message dated 8/14/2007 6:01:03 P.M. Eastern Daylight Time,
[EMAIL PROTECTED] writes:
Our city's government with inept strategic planning pushes the city
towards further stratification: a privileged predominantly white
upper-class inhabiting choice locations, and impoverished
communities of color, too impoverished to flee to the suburbs,
pushed to the less desirable under-serviced neighborhoods.
More than that. The city government has not been paying attention
to the increases in revenues reported during the past few years,
and the substantial decrease they've caused in the budget deficit
despite higher spending, for the federal government as a direct
consequence of the tax cuts now in effect. Everyone except
Democrats who haven't moved beyond the economics of Grover
Cleveland understands that reducing taxes is an incentive to job
creation, investment, consumer spending, and so forth that turn
money over and result in more tax receipts at a lower tax rate.
I'm not making this up. Check the August Monthly Budget Review put
out by the Congressional Budget Office (CBO) (http://www.cbo.gov/
ftpdocs/85xx/doc8518/MBR_08_2007.pdf). Here's the first paragraph:
The federal budget deficit was about $158 billion for the first 10
months of fiscal year 2007, CBO estimates, $81 billion less than
the shortfall recorded over the same period in 2006. Revenues are
about 7 percent higher than in the same period last year, outpacing
the nearly 3 percent growth in outlays. CBO had previously
indicated that the deficit for the fiscal year would be between
$150 billion and $200 billion; the result is likely to be toward
the lower end of that range.
Please to bring you more information you won't find at
sweetbarkingcheese.com (unless they plagiarize it)
Al Krigman
Get a sneak peek of the all-new AOL.com.
Elliot M. Stern
552 South 48th Street
Philadelphia, PA 19143-2029
United States of America
telephone: 215-747-6204
mobile: 267-240-8418
[EMAIL PROTECTED]
