The US budget deficit fell to 2.8 percent of the economy's output in fiscal year 2014, as government revenues rose sharply, official data showed Wednesday.
The federal government's deficit was $486 billion in the fiscal year that ended on September 30, down from $680 billion, or 4.1 percent of gross domestic product, in fiscal year 2013, the Congressional Budget Office said in a preliminary estimate.
A blog by a "sucker" and a "loser" who served her country in the Navy.
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Thursday, October 9, 2014
3 comments:
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Oh goody! We're slowing the rate at which the current is taking us down shit creek! So this year we only outspent the TOTAL ECONOMIC OUTPUT of the united states by 2.8%.
ReplyDelete"How are our finances this year, honey?"
"looking strong! We spent $100,000 on our household while earning $30,000 from working. That's ok though, because if everybody on our block worked as hard as they could and gave all their money to us, we could bring in $97,200 and have only increased our half-million personal debt by $500!"
And lets see how this miraculous thrift was accomplished: "nine percent increase in receipts, mostly taxes, offset by a modest 1.0 percent rise in spending". So we're spending more money that we don't have than ever, but we're screwing the middle class even harder than before. The poor don't pay taxes (losing some of the free money handed to you is not taxation) and the rich know how to avoid them. What else are we doing to save money? "unemployment benefits tumbled 34 percent as an emergency jobless compensation program expired at the end of December 2013". Interesting how you're cheering on the end of aid to the new permanently unemployed class. Very compassionate of you!
I know numbers are scary and math doesn't obey your crackpot Gramscian-Marxist groupthink, but mouse on over to the US debt clock and look at the "unfunded liabilities per taxpayer" and "debt per taxpayer" fields. We're on the hook for over a million dollars PER TAXPAYER, that number is increasing constantly, and even that horrible figure is dependent upon ZIRP. Now that Helicopter Ben's Wild Inflationary Ride is coming to an end, what happens to that liability and debt when interest rates revert to market-driven standards?
I'd rather hear crickets than bleating.
Do you understand percentages? Are you, perhaps, on drugs?
ReplyDeleteThe GDP (total economic output) of the United States is about $17 trillion dollars.
Comrade, I'd decided that Andrew's vivid Faux News driven pipe dreams are no longer worth responding to. I started typing, but then realized I was being drawn offside. Unfortunately, it's your sandbox to defend, so please don't let a cranky/crazy/deluded loon make you give up on it. It's a shame that if you ignored him too, you'd be taken for acceptng his ignorance.
ReplyDeleteOn the plus side, it saves us having to visit Faux News or World Nut Daily for the latest. My apologies if my take on this is considered a personal attack on said loon, and thus a violation.