Thread: Deficit/ Debt

current national debt for the US $ 8,684,479,419,996.76

I've heard that the US has approx. 4 trillion dinar and Bush said in the State of the Union he would cut the national debt in half in the next 5 years... coincidence?

Originally Posted by nventr

I am not an American so I may not know your national economic position properly. However, I believe we need to differentiate between deficit and debt. Deficits refer to the annual deficiencies of revenues as compared with expenditures whereas debt is the total indebtedness that exists. I would be inclined to believe that 4 trillion USD would be your debt. I don't know what your current annual deficit is.
In Canada the debt of the country is less than 500 000.00 CAD and we have been having annual surplusses of 10-30 billion CAD.
As a Canadian I do applaud G. W. for his resolve in the face of an 'all out' left wing media assault. I see him generally doing the right thing because it is the right thing to do. Our current prime minister is cast in the same mold, a very welcome relief from years political management of our predecessor government.

NVENTR,

I applaud this post. Good to hear a knowledgeable reply. Yes, GW has already reduced our deficit by half since he entered office and I believe he will achieve his renewed goal. You never hear of the good he does cause the media is definitely left wing except for most of FOX and so many believe what is fed them by the media. Doing the right thing for the right reasons.....gotta love it.

Monica

Originally Posted by Vipor

Didn't he mention eliminating the deficit in 5 years (or something like that) in his speech a couple of days ago?

oooh, major accomplishment, eliminating a deficit in five years! sheesh... not that he was the greatest president our nation has ever seen or anything, (and fyi im libertarian) but at least Bill knew how to run a surplus budget.

Originally Posted by crave681

oooh, major accomplishment, eliminating a deficit in five years! sheesh... not that he was the greatest president our nation has ever seen or anything, (and fyi im libertarian) but at least Bill knew how to run a surplus budget.

Yeah its called HIGHER TAXES! I paid through the nose when your bill was president.

Originally Posted by lndmn_01

current national debt for the US $ 8,684,479,419,996.76

I've heard that the US has approx. 4 trillion dinar and Bush said in the State of the Union he would cut the national debt in half in the next 5 years... coincidence?

Did he say the national debt or the deficit....? Big difference, if he said debt... meaning the US has agreed to hold those nid for five years... kinda doubt its that cut and dried but we ll see.

Originally Posted by Elfwizard

Yeah its called HIGHER TAXES! I paid through the nose when your bill was president.

wait til you see what your taxes do when Dubya's bills for this obscenity come due. He'll be handily out of office I daresay.

Originally Posted by ourhouse37

wait til you see what your taxes do when Dubya's bills for this obscenity come due. He'll be handily out of office I daresay.

Didn't Congress have something to say? or was it really all Mr. Bush?

and hasn't Mr. Bush cut taxes?

Originally Posted by crave681

Did he say the national debt or the deficit....? Big difference, if he said debt... meaning the US has agreed to hold those nid for five years... kinda doubt its that cut and dried but we ll see.

First, we must balance the federal budget. We can do so without raising taxes. What we need to do is impose spending discipline in Washington, D.C. We set a goal of cutting the deficit in half by 2009 — and met that goal three years ahead of schedule. Now let us take the next step. In the coming weeks, I will submit a budget that eliminates the federal deficit within the next five years. I ask you to make the same commitment. Together, we can restrain the spending appetite of the federal government, and balance the federal budget.

Originally Posted by Alphamystic

I don't know. I didn't get to see it and haven't looked to read it yet. I find it very interesting that he says he can eliminate a 4 Trillion plus deficit in only 5 years.

if you had seen the picture of the palettes of dinar in the u.s. treasury, that i had seen in 2005 on the internet, that mysteriously disappeared from the web, you wouldnt be a bit surprised by that statement.

Originally Posted by lndmn_01

current national debt for the US $ 8,684,479,419,996.76

I've heard that the US has approx. 4 trillion dinar and Bush said in the State of the Union he would cut the national debt in half in the next 5 years... coincidence?

not a bit. he has taken a lesson from clinton (re: kuwait) on this subject, lol.