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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Budget Deficit Is Shrinking Rapidly And Most Americans Don’t Know It
Last year the government spent $973.8 billion more than it took in for the first 10 months of the budget year. The deficit for the same period this year is $607.4. This years deficit is projected to be $670 billion.
As a share of gross domestic product, the deficit was recently as high as 10.1 percent in 2009, when the deficit was $1.4 trillion. It is around 4 percent of GDP, which means the deficit has been cut by more than half since then, in both actual dollars and as a share of GDP.
A poll in February found that only 6 percent of Americans were aware the deficit was shrinking. The new survey finds that a little over 17 percent of those polled know the deficit is shrinking, with only 8.3 percent giving the correct answer: that it has decreased by a lot.
THE REST:
http://www.nationalmemo.com/deficit-down-by-37-6-percent-this-year-but-most-americans-think-its-growing/
And a little note for Paul ("Lyin" Ryan and the rest of the GOP idiots out there about BUDGETS and Republicans:
House of Roberts
(5,122 posts)If Eric Cantor had said 'debt' the other day, instead of 'deficit' his statement would have been entirely correct, and most people would have thought he said the same thing.
Triana
(22,666 posts)The data show otherwise. And they have been for months. Which is why we have dubbed this the Golden Age of Deficit Reduction.
...
Two months remain in fiscal 2013. In September, the government typically runs a surplusits another one of the months when companies and individuals make big quarterly payments. If current trends remain intact, the government will essentially break even over the next two months, and the deficit for the full year will wind up somewhere close to where it was through the first 10 months.
So as you listen to people complaining about the annual deficit, remember that it is melting away. The miracle cure for deficits, it turns out, isnt ripping up the social safety net, or a grand bargain. Its growth, combined with some fiscal restraint, and higher taxes. Compared with a year ago, there are about 2.2 million more people working today, at slightly higher wages, paying slightly higher taxes. The combination of those forces pushes collections higher. Meanwhile, spending on anti-poverty programs like unemployment benefits falls as unemployment claims decline. Winding down the wars in Iraq and Afghanistan has reduced the Pentagon budget. And the sequester has taken a bite out of the budget of many agencies. The combination of those forces pushes spending lower. The latest update on this years fiscal situation confirms that each of these trends is fully intact.
MORE...
http://www.thedailybeast.com/articles/2013/08/12/treasury-monthly-statement-shows-the-u-s-deficit-is-melting-away.print.html
Frustratedlady
(16,254 posts)We are so bad about tooting our own horn.
Why doesn't the media (at least those on our side) hammer this message home? Get off the social, Weiner-type garbage and state the facts.
The Democrats don't refute the garbage coming out of the Republicans' 24/7 mouthpieces, but let the run off the head with their propaganda. Good grief, get some backbone, show the public the facts and deprogram the people.
Same with Obamacare. Get out there and sell it, don't let the Republicans' accusations have time to sink in the brains of their followers.
Triana
(22,666 posts)to defy their corprat overlords but Dems ought to be SCREAMING this stuff from rooftops. Do they even OFFER to appear on programs to talk about this stuff? No one knows.
NuclearDem
(16,184 posts)All this would be useful for is appealing to Republicans and conservatives, and no amount of appeasement is going to get them on the president's side.
Triana
(22,666 posts)1. It's blatantly obvious that the GOP is lying again/still.
2. Their goddamned propaganda works and idiots believe it, causing aforementioned idiots to continue to vote against their own and everyone else's best interests (everyone except the very wealthy and Wall St.
Bottom line: their lies need to be exposed. People need to grok a clue.
MFrohike
(1,980 posts)A giant fiscal contraction in a time of high employment and worsening income inequality. Now there's a cause for celebration!
Triana
(22,666 posts)... just pointing out GOP LIES.
MFrohike
(1,980 posts)All it shows is that Obama has been more effective than them at pursuing their disastrous policies. It's a political own goal in terms of Democratic philosophy.
bigapple123
(23 posts)(1) Sequester
(2) Fannie and Freddie returning dividends to the Treasury (but the government is still out at least $100b on what they injected)
(3) Temporary tax gains due to people taking advantage of last year's lower capital gains tax rates?
Bandit
(21,475 posts)Let History be our guide. Every Republican President since Reagan has increased both Deficit spending and increased National Debt. Clinton actually decreased the National Debt and created surpluses for his last two years in Office. Obama was left with the biggest financial mess since the one Republicans left Roosevelt with. He is doing what Democrats historically have done. Limited spending on wasteful projects and increased spending on projects that have a great return. Democrats always seem to get our financial house in order until the next Republican comes along to blow it all on give-aways for the wealthy.
quinnox
(20,600 posts)ever since Obama took office. When Bush left office the National debt was at 10.5 trillion. And we are now getting close to 17 trillion. So Obama has added almost 7 trillion to our overall debt. That is somewhat breath-taking.
It is good the yearly deficit is getting lower, but that still means we are spending more than we take in every year. This graph shows the alarming trends of this.
http://www.usdebtclock.org/
tblue37
(64,982 posts)budget, so we know we are spending that money. We were spending it under Bush, of course, but he had the cost hidden from the budget.
Triana
(22,666 posts)quinnox
(20,600 posts)has gone up so dramatically, that is a big counterweight to a good news story like this one, in terms of the overall picture and climate of how people will perceive something like this.
It is great Obama has slashed the yearly deficit this time, but we still have a long way to go. We should be running a surplus every year if we want to start paying this gargantuan debt off, not putting ever more billions and trillions onto the credit card.
tblue37
(64,982 posts)Republicans have a major advantage in that the MSM favors their narrative, but Dems could spend more time getting the message out.
Triana
(22,666 posts)And Dems don't even bother anymore with exception of Sanders and Grayson. It should be considered part of their job.