Government Spending and Debt

[UpInArms]

http://story.news.yahoo.com/news?tmpl=story&cid=513&ncid=703&e=9&u=/ap/20040901/ap_on_go_ot/gov_finances

WASHINGTON -

Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30.

Total public debt subject to limit Aug. 31 7,305,531

Statutory debt limit 7,384,000

Total public debt outstanding Aug. 31 7,350,950

Operating balance Aug. 31 2,514

Interest fiscal 2004 thru July 290,046

Interest same period 2003 288,803

Deficit fiscal 2004 thru July 395,777

...more...

looks like the assets and liabilities are ass-backward :wow:

[Bandit]

1. Debt Clock

http://www.worldnewsstand.net/history/your_debt.htm

[snippy]

2. Republicans have completely bullshitted the American people about

which party is responsible for run away federal spending. Since 1960 the federal government has run an annual deficit which exceeced 3% of GDP 14 times. Every single time it was under a republican president. In that time, accumulated deficits have added up to about $3.6 trillion. Of that total, around $3.3 trillion was accumulated under republican presidents and around $300 billion under democratic presidents.

Interest expense is now the fifth highest expenditure in the federal budget. It likely will become the third highest expenditure within a few years, passing defense and something else which I forget right now.

[leftyandproud]

3. deficit spending is ALWAYS bad...UNLESS....

we do it ;)