Bush deficit = $427B ..... BUT he is "borrowing" $114B from Soc Sec Fund

[cthrumatrix]

The real deficit is $541B !!!!

I found this interesting tidbit at the Washington Post site. Click on this link...and go to the defict part and press play. It walks you thru the numbers submitted and how bush is "stealing our soc sec" money to make the budget...AGAIN!

http://www.washingtonpost.com/wp-srv/politics/interactives/budget101/

[cthrumatrix]

1. everyone should be aware of this !!!!!!!!!!!! They are still stealing our

$$$$$$$$$$$$$$$$$$$$$$$$$$$

[spunky]

2. Didn't he say something in the SOTU about not

borrowing from SS? Or did I just dream that out of wishful thinking?

[OneBlueSky]

3. correct me if I'm wrong, but a $541 billion deficit . . .

(including the Social Security "borrowing") on a $2.57 trillion budget equals deficit spending of over 20%! . . . and that's not including the war costs . . . I thought Republicans were for fiscal discipline . . .

[cthrumatrix]

4. where is MSM asking about using $114B from soc sec...?

[Igel]

5. Been done many times.

And he probably won't be the last, unless there's a balanced budget amendment.

That trust fund for SS is full of good ol' IOUs.

[cthrumatrix]

6. so has robbing a bank --- doesn't mean it's right

[Igel]

7. Agreed.

But it's to be assumed when there's a deficit. FICA taxes are taxes. I'm not even sure that the $2.56 trillion excludes FICA and other "dedicated" funds. I'm guessing tomorrow's newspapers will contain a bit more info.

[NVMojo]

8. I asked this question a few weeks back, if it was about * raiding SS

for his own wish list ...seems it is true ...we should have known sooner...the liars just don't quit.

[Strelnikov_]

9. The Reported Deficit Is Lower Than The Growth In Debt

It seems that the reported deficit is $180-280bn lower annually than the growth in debt which reflects borrowing from the Social Security trust fund (amoung other sources?). As far as I am concerned, the deficit should reflect this transfer and be reported per column (2) below.

I know at my house, the difference in what I own at the beginning and at the end of the year is the deficit I have run up.

(1) Debt at end of fiscal year (Oct-Sep FY)
http://www.publicdebt.treas.gov/opd/opdpenny.htm

(2) FY debt growth (Diff. between begin and end FY debt)

(3) Reported Deficit
http://www.cbo.gov/showdoc.cfm?index=1821&sequence=0#table11

2004 Deficit - http://www.msnbc.msn.com/id/6249895/

All in $bn

..........(1)..............(2)..........(3)
FY 04 $ 7,379 .......$ 596 .......$412
FY 03 $ 6,783 .......$ 555 .......$375
FY 02 $ 6,228 .......$ 421 ...... $158
FY 01 $ 5,807 .......$ 133 .....(+)$127
FY 00 $ 5,674 ........$ 18 .....(+)$233
FY 99 $ 5,656