Comments on: Tight budgets ahead?

By: Brad

Brad — Fri, 26 Jan 2007 03:11:24 +0000

“Finally, someone actaully admits Clinton never had an actual surplus.”

It’s always interesting to see how domestic economic news and reporting on Federal deficits changes when a President from the Democratic party is in office.

Boy do I remember the harping on ‘phony accounting’ and the looming collapse of the nation due to entitlement spending during the run up to the 1992 election. But strangely enough phony accounting was perfectly acceptable eight years later as the media started to celebrate a budget surplus! And compare the reporting on the record high stock market and low unemployment in 1998 (just before the stock crash) to the reporting of the same facts in 2006! Funny how that works, isn’t it?

By: null

null — Thu, 25 Jan 2007 14:58:11 +0000

“Does that factor in the lowered revenues caused by the recession in the second half of 2007?”

You mean the same recession that has been predicted since 2003? Yes, that included in the calculations.

“The actual shortfall not reported is still around $497 billion.”

Finally, someone actaully admits Clinton never had an actual surplus.

By: .

Thu, 25 Jan 2007 07:30:48 +0000

Does that factor in the lowered revenues caused by the recession in the second half of 2007?

By: Stephen L. Rush

Stephen L. Rush — Thu, 25 Jan 2007 05:48:43 +0000

Do not be fooled by government projections that inflate projections using Enron-like accounting. As a business strategist and CFO, it is difficult to ascertain how the government’s borrowed figures are not represented alongside incomes and expenditures. The actual shortfall not reported is still around $497 billion.

By: Mike Puckett

Mike Puckett — Wed, 24 Jan 2007 22:11:08 +0000

Considering the projected deficit for FY07 just came in at $175BN, taking five years to eliminate it is a pretty loping pace.

“CBO, Congress’ nonpartisan budget analyst, said in its updated budget and economic outlook that the fiscal 2007 deficit will fall to $172 billion and the government could go into surplus by 2012.

The new estimate for the fiscal 2007 deficit was significantly below the $247.7 billion budget shortfall registered last year and CBO’s August forecast of a $286 billion deficit this year.”