Dismiss Notice
Join Physics Forums Today!
The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

Psssttt, the deficit's shrinking

  1. Jan 21, 2005 #1

    I know this won't be popular here. I know my source will be attacked, but the numbers are there for you to view...
  2. jcsd
  3. Jan 21, 2005 #2
    US DEBT: $7,618,664,432,856.82
    and climbing

    The National Debt has continued to increase an average of
    $2.12 billion per day since September 30, 2004!


    The following graph shows how the National Debt has grown year by year since 1940 in actual dollar amounts, uncorrected for inflation:
  4. Jan 21, 2005 #3
    Lets just hope it continues to shrink.
  5. Jan 21, 2005 #4

    Absolutely. A debt pay down is needed eventually, but this must all be done at a moderate pace. I am glad to see things going in the right direction, although, I'm high dissapointed in some of the pork barrel occuring at this date and time.
  6. Jan 21, 2005 #5
    Is this supposed to refute my post or something? Please add some opinion so I know your point.
  7. Jan 21, 2005 #6
    I have a hard time getting too excited over one month change in net deficit, after years of growing deficits. The republicans who cost us $500+ billion dollars due to a repulsive medicare package are still in office, and hearing they are going to refuse inflationary increases in veterans benefits and science programs somehow doesn't make me feel any better. I'd rather have my $'s going to scientifc research than pharmaceutical companies any day.

    It's just pathetic that all we have to be proud of is that, if one month's changes continue, we'll be under $400 billion dollars deficit in a year.

    Of course, the OP's statements about how you won't see this in the news are a good point too. If it were Kerry they were swearing in the other day, the media would be flaunting this news as proof of his wisdom and righteousness.
  8. Jan 21, 2005 #7


    User Avatar
    Staff Emeritus
    Gold Member
    Dearly Missed

    The deficit is the size of this month's bill. It may be smaller than last month's, but it's still big. And it still gets added to the overall debt, which therefore still grows. Capisce?
  9. Jan 21, 2005 #8
  10. Jan 21, 2005 #9
    Phatmonky, praythee; at this rate, when will we have a surplus again? Will it be by the end of Bush's Presidency?
  11. Jan 22, 2005 #10


    User Avatar
    Staff Emeritus
    Science Advisor
    Gold Member

    Yes, that's what I made also of this first post. US deficit is none of my business, but it reminds me of a famous statement of a Belgian prime minister in the beginning of the 1980ies: "the increase of the increase of the deficit is lowering" :rofl: (for connaisseurs: it was PM Wilfried Martens).

    This really struck me: politicians were discovering the conceptual meaning of "second derivative" :rofl:
    Last edited: Jan 22, 2005
  12. Jan 22, 2005 #11


    User Avatar
    Staff Emeritus
    Gold Member
    Dearly Missed

    Yeah, economists call it the margin of the margin. Anything for a mystique.
  13. Jan 22, 2005 #12
    [sarcasm]Wow, $11 billion, that's ever-so-rapidly decreasing.[/sarcasm]

    Also remember that this is after bush's huge deficit increases. A decrease is the least that we could hope for.
  14. Jan 22, 2005 #13


    User Avatar
    Staff Emeritus
    Science Advisor
    Gold Member

    Well, I'm glad something's turning around at last ! It's been high time, wot ?

    (I can only imagine the sheer joy Mr. Kudlow must have been experiencing during this announcement ! :rolleyes: - not an attack, okay ?)
  15. Jan 22, 2005 #14
    Wait untill usa/israel attacks Iran or Syria,deficit then will soar to the new heights.
  16. Jan 22, 2005 #15


    User Avatar
    Staff Emeritus
    Gold Member

    According to the numbers up top, the deficit is currently at $355 billion, shrinking at a rate of $44 billion per year. If it continued shrinking at exactly that rate, it would take 8 1/2 years to see a surplus. However, if federal spending continues to decrease as the economy improves and tax revenues increase, it would happen much sooner. It wouldn't be impossible to see a surplus by the end of Bush's term. I wouldn't exactly expect it, though, based on a very short-term trend alone.
  17. Jan 22, 2005 #16
    What would you expect the budget defecit to be by the end of Bush's term? Would you care to at least wager if it'll be more or less than it was when he started his second term?
  18. Jan 23, 2005 #17


    User Avatar
    Staff Emeritus
    Gold Member
    Dearly Missed

    I'm going to start a poll on this.
  19. Jan 23, 2005 #18

    I'm aware of that, and that has nothing to do with refuting my post, which is why I asked for clarification, that I'm still not getting.
  20. Jan 23, 2005 #19
    Your point is correct, the defecit is shrinking. The points others have been making, however, is that it isn't that big of a deal, since we're still running a HUGE budget defecit and have massive debt regardless.
  21. Jan 25, 2005 #20


    User Avatar

    Staff: Mentor

    Hey, Yo! The budget deficit is NOT shrinking afterall!

    Heard a report this morning that the White House is asking for $80 billion for this year on top of what they have already requested. So there goes the $11 billion decrease. The official numbers will not be available until the president releases the formal budget request, which is supposed to happen on February 7.

    AND, the current deficit projections do not include a request to repeal the estate tax - which would greatly increase the loss of revenue to the Treasury.

    For information - see Congressional Budget Office
    Last edited: Jan 25, 2005
Know someone interested in this topic? Share this thread via Reddit, Google+, Twitter, or Facebook

Have something to add?

Similar Discussions: Psssttt, the deficit's shrinking