W:1083,1531:2983:3137]******Bush Mortgage Bubble FAQs

Conservative said:

Please by all means keep posting to show others just how poorly informed liberals are. The yearly budget has nothing to do with the debt? Where does the debt come from? AS for the budget and deficit, I gave you the link to the bank account of the United States where you can see the deficit and or surplus by day and thus by fiscal year. Please show me the Clinton surplus?

The Obama policies that added to the debt? Hmmm, how about a stimulus program that took employment from 142 million in January 2009 to 139 million in January. How much tax revenue wasn't generated by those 3 million fewer employed people?

Click to expand...

JonK said:

Investopedia



DEFINITION of 'Budget Surplus'

A situation in which income exceeds expenditures




BREAKING DOWN 'Budget Surplus'

When spending exceeds income, the result is a budget deficit, which must be financed by borrowing money and paying interest on the borrowed funds, much like an individual spending more than he can afford and carrying a balance on a credit card. A balanced budget occurs when spending equals income. The U.S. government has only had a budget surplus in a few years since 1950. The Clinton administration (1993-2001) famously cured a large budget deficit and created a surplus in the late 1990s.




DEFINITION of 'Budget Deficit'

A status of financial health in which expenditures exceed revenue. The term "budget deficit" is most commonly used to refer to government spending rather than business or individual spending. When referring to accrued federal government deficits, the term "national debt” is used.

The opposite of a budget deficit is a budget surplus, and when inflows equal outflows, the budget is said to be balanced.


Budget Surplus Definition | Investopedia

You asking why a too small, $787 billion stimulus, 40% tax cuts to ATTEMPT to get the GOP on board, didn't dig US out of the hole Dubya/GOP policy put US in faster? REALLY? After 8 years of failed GOP policy? Why didn't the Dems fix the GOP problems faster? GAWWDD Reminds me of right wingers and the Harding/Coolidge great depression! "We broke it, by why aren't you Dems fixing it faster"

Click to expand...

Conservative said:

Bush's tax cuts stimulated economic growth taking the GDP from 10.2 trillion in 2000 to 14.7 trillion in 2008. Obama has taken GDP from 14.7 trillion to 17.5 trillion.

You look at headlines and pass them off as fact. From January 2001 to January 2008, Bush created over 9 million jobs and that includes the recession of March 2001 and 9/11. Stop buying the rhetoric and learn how to do research

Click to expand...

Conservative said:

No, you stimulate economic activity and that activity is what creates new taxpayers. Light bulb go off yet?

Click to expand...

Conservative said:

You are really good at posting information now learn to understand it and compare it to actual results using our bank account data. You think the Treasury Dept showing a deficit each and every year of the Clinton Administration is lying?

Click to expand...

Mr Person said:

What some people desperately need to understand is that tax cuts cannot possibly stimulate economic activity unless the people targeted by the tax cut spend money in productive ways, which money they would not have spent but for the tax cut.

And that's why cutting taxes on the well off never does anything.

If we're talking about a successful business, well, that business is only going to increase investments where those investments will allow them to meet demand that they are not meeting. They're going to do that regardless of whether or not they are looking at a tax cut. And if there isn't increasing demand for their products or services, then they aren't going to invest extra profits resulting from a tax cut.

As for rich individuals, are we expecting them to buy a second yacht simply because of a tax cut? They're already rich enough to buy all the yachts they want. Giving them a tax cut doesn't result in some flurry of economic activity.

If you want a tax cut to have any hope of generating activity, you give it to a group that has to spend the money at some point anyway. Maybe on food, maybe on a car repair, etc.



Taxation levels should only be about generating the amount of revenue needed to fund the spending agreed upon by the parties.

Click to expand...

JonK said:

The Economic Blue Screen of Death


Let's look at a graph I used two years ago, from work done by James Kennedy and Alan Greenspan, on the effect of mortgage equity withdrawals (MEWs) on the growth of the US economy.

Notice that in both 2001 and 2002, the US economy continued to grow on an annual basis (the "technical" recession was just a few quarters). Their work suggests that this growth was entirely due to MEWs. In fact, MEWs contributed over 3% to GDP growth in 2004 and 2005, and 2% in 2006. Without US homeowners using their homes as an ATM, the economy would have been very sluggish indeed, averaging much less than 1% for the six years of the Bush presidency. Indeed, as a side observation, without home equity withdrawals the economy would have been so bad it would have been almost impossible for Bush to have won a second term.


The Economic Blue Screen of Death | Thoughts from the Frontline Investment Newsletter | Mauldin Economics


Total private JOBS US



Jan 2001 - 111,861,000

Jan 2008 - 115,977,000 (DUBYA'S PEAK, 4 MILLION PRIVATE SECTOR JOBS)

Jan 2009 - 111,398,000 (LESS PRIVATE SECTOR JOBS THAN CLINTON HAD)

Feb 2010- (effects of Dubya's governance ends) 107,173,00 PRIVATE sector jobs

Sept 2015 - 120,342,000 PRIVATE sector jobs



Bureau of Labor Statistics Data

UNLIKE RIGHT WINGERS, I DON'T GO BY EMOTIONS, AND SOURCE MY FACTS

Click to expand...

JonK said:

CBO DATA, 1998-2001 F/Y SURPLUSES BUBS


https://www.cbo.gov/sites/default/files/111th-congress-2009-2010/reports/historicaltables_0.pdf

Debt is accumulation of deficits/surpluses. Budgets are a yearly thing. BJ Bill the best conservative Prez since Ikj, had 4 F/Y surpluses Bubs

Click to expand...

JonK said:

BINGO

Click to expand...

Conservative said:

Come on, jonk, this is getting ridiculous. I use official data from Treasury and BEA.gov. Yours is nothing more than partisan bs. What is it about liberalism that creates this kind of loyalty

There are many charts in BLS.gov and the one I use is the one used to calculate the OFFICIAL unemployment numbers. You want to focus on things the Federal govt. doesn't control, state employment which is part of public employment numbers. Giving Obama credit for cutting state employment is quite a tribute to the destruction of the economy by Obama economic policies. States cannot print monye

Click to expand...

Conservative said:

So CBO data trumps the bank account of the United States? Interesting. What is it about liberalism that creates this kind of loyalty?

Click to expand...

JonK said:

MORE right wing projection and ad homs from con boy? Shocking

I USED OFFICIAL BLS SITE FOR PRIVATE SECTOR JOBS BUBS (you want to include Gov't employees BECAUSE Dubya/Ronnie grew Gov't SOOOOOO much)

Yep, Dubya's policies REALLY hurt the states. We agree

Click to expand...

Conservative said:

Whether people spend the money, pay down debt, invest the money, or save it, all benefit the economy and thus create economic activity

Click to expand...

Conservative said:

LOL, yes, you use private sector data but don't understand it. What is included in that private sector data and what is eliminated?

Click to expand...

Conservative said:

Whether people spend the money, pay down debt, invest the money, or save it, all benefit the economy and thus create economic activity

Click to expand...

JonK said:

Sure, proved under Ronnie/Dubya right? NOT


PRIVATE sector jobs


Carter 9+ million in 4 years

Ronnie 14 million in 8 years

Clinton 19 million in 8 years

Dubya LOST jobs

Bureau of Labor Statistics Data


BUT PLEASE tell me more about trickle down economics???

Click to expand...

JonK said:

You mean the CBO looks at ACTUAL GOV'T DATA whereas you use right wing memes, distortions and lies? Hmm which one to trust?

Click to expand...

Conservative said:

Spoken like that good little liberal soldier that doesn't understand the information you even post.

How is Obama working out for you?


It serves no purpose trying to educate a dedicated liberal who buys rhetoric and ignores actual data. One of these days that light bulb is going to go off and you are going to wonder why you allowed liberalism to make you look foolish

Click to expand...

JonK said:

Gov't employees the GOP LOVES to whine about but grow their numbers when they get in office?

Click to expand...

Conservative said:

So you telling me that Treasury is lying? You have no idea what CBO is, does, and where it gets its information. Treasury is the bank account of the United States. I gave you a link and asked you to show me the Clinton surplus. Your silence is deafening but accurate

Click to expand...

JonK said:

YOUR projection noted Bubs

Click to expand...

conservative said:

when the gop is in office the gdp explodes requiring more state employees to provide the services the taxpayers are paying for

Click to expand...

JonK said:

Cool, PERHAPS post a link from Treasury showing YEARLY BUDGETS (since debts are NOT a yearly budget)?

Click to expand...

Conservative said:

Too bad you don't notice the actual data posted as well. Research isn't a strength of yours either

Click to expand...