REAL WORLD EVENT DISCUSSIONS

Someone Tell Cantor: The Deficit Is Shrinking

POSTED BY: NIKI2
UPDATED: Thursday, August 15, 2013 15:52
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Thursday, August 15, 2013 8:23 AM

NIKI2

Gettin' old, but still a hippie at heart...


Quote:

On Fox News Sunday, Chris Wallace asked Eric Cantor, the House Majority Leader, for a preview of what will happen the next time Congress needs to raise the debt ceiling. It was a remarkable exchange, in part because Mr. Cantor made a remarkable error.
Quote:

.....And all the while keeping our eye focused on trying to deal with the ultimate problem, which is this growing deficit.[/quote[


Mr. Cantor appeared to be defending his party’s shenanigans by arguing that the “ultimate problem” is the “growing deficit.” The thing is, the deficit is not growing. It is shrinking.

The White House budget office announced in July that the federal budget deficit will fall to $759 billion this fiscal year. That’s equivalent to 4.7 percent of the gross domestic product, down from 10 percent four years ago. As Jonathan Weisman reported in The Times, “the annual midsession review from the White House Office of Management and Budget was largely in line with a recent forecast from the Congressional Budget Office. Both see a rapid decline in deficits expressed as a percentage of the economy, the fastest since the years following World War II.” ( http://thecaucus.blogs.nytimes.com/2013/07/08/projections-show-u-s-bud
get-deficit-will-shrink/?gwh=9A19C522434DA97988F7B928A01DB835
)

Did Mr. Cantor miss the memo? Did he mix up the debt and the deficit? Or did he figure his position would sound more reasonable if he strayed from the truth? http://takingnote.blogs.nytimes.com/2013/08/05/someone-tell-cantor-the
-deficit-is-shrinking/
]


ETA: It's not just shrinking, it's shrinking "At Fastest Pace Since WWII", and that was BEFORE the infamous "fiscal cliff"... ( http://news.investors.com/blogs-capital-hill/112012-634082-federal-def
icit-falling-fastest-since-world-war-ii.htm
)

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Thursday, August 15, 2013 9:49 AM

AURAPTOR

America loves a winner!



Has it been cut in half, as Obama promised it would ?

Nope.

Is it anywhere near 1/2 ? Nope.

How about that debt ? Over 16.9 trillion $, and still growing.





Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen

Resident USA Freedom Fundie

" AU, that was great, LOL!! " - Chrisisall

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Thursday, August 15, 2013 10:04 AM

STORYMARK


Doing better than *any President in the last 70 years* (including W and his holiness Ronny "Alzheimer's" Reagan) isn't good enough to the idiot zealot.

Granted, nothing ever is to those driven by ideology over fact.

You want to talk about the debt, kiddo? How about we discuss how much of it was racked up by Bush - with fuckwads like you cheering the whole time?




Excuse me while I soak in all these sweet, sweet conservative tears.

"We will never have the elite, smart people on our side." -- Rick "Frothy" Santorum

"Goram it kid, let's frak this thing and go home! Engage!"

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Thursday, August 15, 2013 11:12 AM

M52NICKERSON

DALEK!


Quote:

Originally posted by AURaptor:

Has it been cut in half, as Obama promised it would ?

Nope.

Is it anywhere near 1/2 ? Nope.



As far as measured in % of GDP very close down to 5.3% of GDP as opposed to 10.1% when he took office.

I do not fear God, I fear the ignorance of man.

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Thursday, August 15, 2013 2:24 PM

NIKI2

Gettin' old, but still a hippie at heart...


Until enough of us choose to ignore Rap's IMMEDIATE almost uniformly negative responses to virtually anything I put up, he will continue to win his "gotcha game".

I believe it states 4.7%, down from 10%...that is less than half, right? Which is irrelevant, Rap will always find some way to diss any good news, and everyone knows it. I note he has nothing to say about Cantor's remarks...which are the point of the post.


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Thursday, August 15, 2013 3:52 PM

MAL4PREZ


I have two reactions to this thread:

1) Cantor is a moron

2) Rappy is a moron

Neither is new news. So I guess I have nothing to add.

*---------------------------------------*
The French Revolution would have never happened if Marie Antoinette had just given every peasant an iPhone.

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