05-30-2016, 09:34 PM
(05-30-2016, 03:21 PM)HairOfTheDog Wrote: I don't even understand what you're getting at, Mags.
You can find sources for the deficit reduction everywhere. I've read many.
My post to which you responded was not an opinion, or manipulation of numbers, or attempt to differentiate 'debt' from 'defiticit' or anything like that. It was just a statement of fact.
Anyway, here are a few sources verifying for you that today's deficit is the lowest since 2007:
http://www.wsj.com/articles/u-s-treasury...1421176136
http://www.msnbc.com/rachel-maddow-show/...-obama-era
http://money.cnn.com/2015/10/15/news/eco...t-deficit/
http://www.thefiscaltimes.com/2015/10/15...evels-2008
Deficit and debt are two separate things. I have acknowledged that. Are you saying they are the same? Just wondering.
The deficit is the difference between what the U.S. Government takes in from taxes and other revenues, called receipts, and the amount of money it spends, called outlays. The items included in the deficit are considered either on-budget or off-budget.
You can think of the total debt as accumulated deficits plus accumulated off-budget surpluses. The on-budget deficits require the U.S. Treasury to borrow money to raise cash needed to keep the government operating. It borrows the money by selling securities to the public.
The Treasury securities issued to the public and to the Government Trust Funds then become part of the total debt.
A favorite source for some.
My sin was confusing debt with deficit. I will now trim my toenails as a sacrificial offering for penance. I'm glad you agree with everything else though.
He ain't heavy, he's my brother.