Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Bush Says '06 deficit Was $248B -- But National Debt Grew $574B (Chirolas)

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007) Donate to DU
 
Tace Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-30-06 09:04 PM
Original message
Bush Says '06 deficit Was $248B -- But National Debt Grew $574B (Chirolas)
William Chirolas -- World News Trust

Oct. 31, 2006 -- Does anyone care that the real 06 Federal deficit -- the increase in the National Debt -- was $574 billion, and not Bush's claimed $248 billion?

When will the media learn that The Bush Whitehouse "deficit" is very different from realty, and that reality is the increase in the National Debt from year to year?

The Bush folks tell us -- and the media repeats without comment or analysis, that the Bush cut the deficit for last year down to $248 billion -- but they never mention that the Bush announced number is after a con job of accounting games.

more

http://www.worldnewstrust.com/index.php?option=com_cont...
Printer Friendly | Permalink |  | Top
tblue Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-30-06 09:05 PM
Response to Original message
1. I guarantee you if you asked him what's the diff between the deficit & the debt
he would have no idea.
Printer Friendly | Permalink |  | Top
 
Tace Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-30-06 10:53 PM
Response to Reply #1
2. It's Just Somebody Else's Problem
Printer Friendly | Permalink |  | Top
 
MiniMe Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-30-06 11:59 PM
Response to Original message
3. There is interest on that debt
It adds up big time.
Printer Friendly | Permalink |  | Top
 
Selatius Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-31-06 12:08 AM
Response to Original message
4. Doesn't the "national debt" also include private/consumer debt?
Would that explain the discrepancy? Not all debt incurred in one year is incurred by the government?
Printer Friendly | Permalink |  | Top
 
papau Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-31-06 09:43 PM
Response to Reply #4
7. No - Nat'l debt is just debt of Federal Gov - there is no private/consumer
Edited on Tue Oct-31-06 10:05 PM by papau
debt in that number.

The difference between the two is the fact that Bush uses the Social Security Surplus as a reduction to his deficit (about 180B - other trust funds buy about $100B
Medicare does not have a surplus, there is $2 B surplus from the post office, and then there seems to be a bit of "off budget" items like student loans. http://www.cbo.gov/budget/budproj.pdf )

The use of the SS surplus in this way (called a "unified Budget presentation" and begun around the time of Saint Reagan) makes a little bit of sense since removing SS surplus gives a resulting number that is the amount for which he has to go to the private capital markets to borrow the funds (sell bonds) - so this is the amount of "crowding out" the funding of our government through debt is causing folks that want to borrow from the capital markets have to put up with.

Printer Friendly | Permalink |  | Top
 
dtotire Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-31-06 03:05 PM
Response to Original message
5. Bush Says '06 deficit Was $248B -- But National Debt Grew $574B
The reason for the discrepancy is the amount that was funded by the trust funds--like Social Security, Medicare, and other trust funds.
Printer Friendly | Permalink |  | Top
 
papau Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-31-06 10:02 PM
Response to Reply #5
8. Mostly trust funds - SS Surplus is under 180B - other trust funds buy about $100B
Medicare does not have a surplus, there is $2 B surplus from the post office, and then there seems to be a bit of "off budget" items like student loans.

http://www.cbo.gov/budget/budproj.pdf
Printer Friendly | Permalink |  | Top
 
Jeffersons Ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Oct-31-06 03:27 PM
Response to Original message
6. K&R. this was moving off the board too fast. good OP
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Thu Jul 31st 2014, 11:38 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC