Berkeley CSUA MOTD:Entry 34623
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2025/07/12 [General] UID:1000 Activity:popular
7/12    

2004/11/3 [Politics/Domestic/California, Politics/Domestic/President/Bush] UID:34623 Activity:moderate
11/3    If the deficit continues at the current rate, what would it imply?
        I mean, what does all the deficit really means?
        \_ Deficit/surplus as a percentage of GDP:
           1976, -4.2%
           1983, -6%
           1992, -4.7%
           2003, -3.5%
           http://www.cbo.gov/showdoc.cfm?index=1821&sequence=0#table2
           \_ Any figures for national debt as % of GDP?
           \_ Looks like we'll have to raise taxes to get out it.
              \_ Taxes were coming regardless of who won the election.  The
                 question is who is going to get taxed.  Kerry would have taxed
                 the rich.  Bush will likely gut the EITC among other things.
                 \_ One of the problems with taxing the rich that
                    raising taxes often just makes them put their money
                    in shelters, which doesn't help the economy OR tax
                    revenues.  Notice how Kerry's wife only pays 15% of
                    her income in taxes?
                    \_ Shhh... We're not supposed to talk about Teresa.
              \_ Raise taxes or pray for the economy to get hot, but
                 unfortunately the current bunch in Washington is religious.
                 However, we've clearly been here before, and the chicken
                 littles are likely overstating their case.
              \_ Nah, we'll just keep borrowing until total collapse.
2025/07/12 [General] UID:1000 Activity:popular
7/12    

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Cache (1341 bytes)
www.cbo.gov/showdoc.cfm?index=1821&sequence=0#table2
a From 1962 through 1988, the Postal Service was on-budget. a From 1962 through 1988, the Postal Service was on-budget. a Includes unemployment compensation, Supplemental Security Income, the refundable portion of the earned income and child tax credits, Food Stam ps, family support, child nutrition, and foster care. a Includes unemployment compensation, Supplemental Security Income, the refundable portion of the earned income and child tax credits, Food Stam ps, family support, child nutrition, and foster care. a Excludes deposit insurance, receipts from auctions of licenses to use the electromagnetic spectrum, timing adjustments, and contributions from allied nations for Operation Desert Storm (which were received in 1991 and 1992). b CBO calculated fiscal year numbers from quarterly national income and product account data from the Bureau of Economic Analysis. a Consists of deposit insurance, receipts from auctions of licenses to u se the electromagnetic spectrum, timing adjustments, and contributions f rom allied nations for Operation Desert Storm (which were received in 19 91 and 1992). a Consists of deposit insurance, receipts from auctions of licenses to u se the electromagnetic spectrum, timing adjustments, and contributions f rom allied nations for Operation Desert Storm (which were received in 19 91 and 1992).