Home | Community | Message Board


Crestline Sales - MycoPath
Please support our sponsors.

General Interest >> Political Discussion

Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Jump to first unread post. Pages: 1
InvisibleRavus
Not an EggshellWalker
 User Gallery

Registered: 07/18/03
Posts: 7,991
Loc: Cave of the Patriarchs
Another Success for Our Administration
    #3681015 - 01/26/05 01:41 AM (12 years, 3 months ago)

White House: Deficit Will Hit Record $427B
Jan 25, 11:17 PM (ET)

WASHINGTON (AP) - The White House will project that this year's federal deficit will hit $427 billion, a senior administration official said Tuesday, a record amount partly driven by wars in Iraq and Afghanistan.

The official, among three who briefed reporters on condition of anonymity, said the estimate was a conservative one that assumed some higher spending than other analysts use. Last February, the White House projected that the 2004 shortfall would hit $521 billion, only to see it come in at $412 billion.

The official said the figure represented progress because it would be smaller than last year's record $412 billion shortfall when compared to the size of the growing U.S. economy. That ratio is a key measure of the deficit's potency.

"Our projections will show we remain on track to cut the deficit in half by 2009," one of President Bush's budget goals, the official told reporters.

Even so, the number was among a blizzard of figures released Tuesday that illustrated how federal deficits remain a problem that Bush and Congress must reckon with.

The nonpartisan Congressional Budget Office said that thanks to tax cuts and hurricane aid passed since its last calculations in September, the 10-year deficit had worsened since then by $503 billion, not counting war expenditures.

The congressional analysts projected that this year's deficit would hit $368 billion - which would be the third highest ever - excluding war costs. Adding expenditures for Iraq and Afghanistan operations would push this year's red ink to about $400 billion, said Congress' nonpartisan budget analyst.

Underscoring budget pressures hounding lawmakers, senior administration officials invited reporters to the White House to outline their upcoming request for an additional $80 billion, or slightly more, to help pay this year's costs of wars in Iraq and Afghanistan.

"I am grateful that Congress in a strong bipartisan fashion has consistently voted to support our troops, and I urge it to do so again," Bush said in a written statement.

There is little doubt lawmakers will follow Bush's lead, as they have repeatedly since the Sept. 11, 2001, terrorist attacks. The latest proposal would bring war spending so far to about $308 billion, including $25 billion to rebuild Iraq and Afghanistan, according to the Congressional Research Service, which provides reports to lawmakers.

Bush plans to send his 2006 budget to Congress on Feb. 7. It will not include a request for more war funds for that year, the officials said, saving that request for later.

Tuesday's forecast by the Congressional Budget Office was widely awaited at the start of a year when Bush and Republicans are likely to propose tight spending restraints - and battle Democrats and some GOP lawmakers over those plans.

The budget office projected $855 billion in shortfalls for the decade ending in 2015. The office estimated that deficits would gradually fade into slight surpluses by 2012 - but not many were taking that forecast at face value.

In making those estimates, the budget office assumed that current tax and spending laws would be unchanged, as it is required to do by law. The practice is designed to give lawmakers a neutral starting point to work from when crafting legislation.

As a result, the budget office projections omitted war costs and some of Bush's top legislative priorities.

The budget office said assuming U.S. troop strength in Iraq and Afghanistan stays steady through next year and then declines gradually, those wars would add $590 billion to the decade's deficits.

Bush's proposal to prevent his tax cuts from expiring - and easing the impact of the alternative minimum tax on middle-income Americans, a move both parties favor - could add red ink exceeding $2.3 trillion, the budget office said.

The budget office did not say how much Bush's plans to revamp Social Security would cost, but it has been estimated at $1 trillion to $2 trillion.

On the other hand, the budget office assumed most domestic programs would grow at the same rate as inflation. Keeping such spending at about the same level as this year for the entire decade - which Bush may come close to proposing - could reduce deficits by $1.3 trillion over the period, the budget office said.

Republicans used the deficit figures to argue that budget savings must be found this year, including from popular benefit programs.

"If we do nothing, our kids and grandkids will be overwhelmed by the costs of our inaction," said Senate Budget Committee Chairman Judd Gregg, R-N.H.

Democrats blamed Bush and the GOP for the daunting piles of red ink.

"Republicans control the House, the Senate and the White House, but they can't control the budget and they can't escape responsibility for its dismal condition," said Rep. John Spratt of South Carolina, top Democrat on the House Budget Committee.

The administration officials provided little new detail about their war package.

They said of the $80 billion, about $75 billion would be for the Defense Department, with most of it for the Army. They said such spending would include personnel costs, the start of an effort to add at least 17 combat brigades to the Army and replacing worn out equipment.

The rest of the money would largely be for aid the State Department would give to U.S. allies and for other expenses. Included would be money to help new Palestinian leader Mahmoud Abbas, to build an embassy in Baghdad and to aid victims of fighting in Sudan's Darfur province. The cost of the embassy alone has been estimated at $1.5 billion.

They did not state whether the request would include aid for Indian Ocean countries staggered by the tsunami. But one said the United States was spending $5 million daily there, and the administration would seek a "significant request, very generous assistance."

The United States has already committed $350 million to tsunami recovery efforts.
http://apnews.myway.com//article/20050126/D87RHJJ05.html


--------------------
So long as you are praised think only that you are not yet on your own path but on that of another.


Post Extras: Print Post  Remind Me! Notify Moderator
Invisibleblacksabbathrulz
 User Gallery
Registered: 05/22/02
Posts: 2,511
Re: Another Success for Our Administration [Re: Ravus]
    #3681717 - 01/26/05 04:06 AM (12 years, 3 months ago)

"Bush plans to send his 2006 budget to Congress on Feb. 7. It will not include a request for more war funds for that year, the officials said, saving that request for later."

Either this will be changed now, or it will be changed later. Let's hope Israel takes out Iran before Bush decides to spend money doing so.


--------------------
.


Post Extras: Print Post  Remind Me! Notify Moderator
Offlineunbeliever
Yo Daddy!
 User Gallery
Registered: 05/22/04
Posts: 5,158
Loc: Gallifrey
Last seen: 8 years, 1 month
Re: Another Success for Our Administration [Re: blacksabbathrulz]
    #3681776 - 01/26/05 04:26 AM (12 years, 3 months ago)

Quote:

blacksabbathrulz said:
"Bush plans to send his 2006 budget to Congress on Feb. 7. It will not include a request for more war funds for that year, the officials said, saving that request for later."

Either this will be changed now, or it will be changed later. Let's hope Israel takes out Iran before Bush decides to spend money doing so.




The part that really concerns me is that almost anything Bush sends to congress will get passed with the new strong republican control. Just to stem the inevitable, I would feel the same way if it was the democrats in the same position. Again I flog the same poor equine; the polarized two-party system is killing our country.


--------------------
Happiness is a warm gun...


Post Extras: Print Post  Remind Me! Notify Moderator
Invisibleblacksabbathrulz
 User Gallery
Registered: 05/22/02
Posts: 2,511
Re: Another Success for Our Administration [Re: unbeliever]
    #3681826 - 01/26/05 04:56 AM (12 years, 3 months ago)

Quote:

unbeliever said:
Quote:

blacksabbathrulz said:
"Bush plans to send his 2006 budget to Congress on Feb. 7. It will not include a request for more war funds for that year, the officials said, saving that request for later."

Either this will be changed now, or it will be changed later. Let's hope Israel takes out Iran before Bush decides to spend money doing so.




The part that really concerns me is that almost anything Bush sends to congress will get passed with the new strong republican control. Just to stem the inevitable, I would feel the same way if it was the democrats in the same position. Again I flog the same poor equine; the polarized two-party system is killing our country.




It really is killing our country. Both sides are extreme, and although I think Bush is rather moderate on some accounts, regardless of this, there is no compromise from the left, and there is no compromise from the right, regardless of Bush, which results in extreme policies and extreme spending to keep special interest groups happy. We need to seriously change the two party system, however I'm not sure I see that any time soon. :crazy:


--------------------
.


Post Extras: Print Post  Remind Me! Notify Moderator
OfflineGazzBut
Refraction

Registered: 10/15/02
Posts: 4,770
Loc: London UK
Last seen: 2 months, 2 days
Re: Another Success for Our Administration [Re: blacksabbathrulz]
    #3682079 - 01/26/05 08:11 AM (12 years, 3 months ago)

Quote:

Let's hope Israel takes out Iran before Bush decides to spend money doing so.




Do you believe bombing Iran is justified?


--------------------
Always Smi2le


Post Extras: Print Post  Remind Me! Notify Moderator
InvisibleCJay
Dark Stranger
 User Gallery

Registered: 02/02/04
Posts: 931
Loc: Riding a bassline
Re: Another Success for Our Administration [Re: Ravus]
    #3682182 - 01/26/05 09:41 AM (12 years, 3 months ago)

Quote:

Senior administration officials invited reporters to the White House to outline their upcoming request for an additional $80 billion, or slightly more, to help pay this year's war costs.

The latest proposal would bring war spending since the terrorist attacks of Sept. 11, 2001, to about $308 billion, including $25 billion to rebuild Iraq and Afghanistan, according to the Congressional Research Service, which provides reports to lawmakers.




That's approximately 90% smashing things up 10% rebuilding.


Post Extras: Print Post  Remind Me! Notify Moderator
Invisibleblacksabbathrulz
 User Gallery
Registered: 05/22/02
Posts: 2,511
Re: Another Success for Our Administration [Re: GazzBut]
    #3682358 - 01/26/05 11:11 AM (12 years, 3 months ago)

Quote:

GazzBut said:
Quote:

Let's hope Israel takes out Iran before Bush decides to spend money doing so.




Do you believe bombing Iran is justified?




Yes, any country that centrifuges hexaflouride, and continues to do so right up until the UN deadline after stating they wish to nuke israel deserves to get bombed IMO.


--------------------
.


Post Extras: Print Post  Remind Me! Notify Moderator
Offlinezappaisgod
horrid asshole

Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 10 months, 23 days
Re: Another Success for Our Administration [Re: blacksabbathrulz]
    #3682692 - 01/26/05 12:59 PM (12 years, 3 months ago)

Iran has been due a severe bombing since 1980. Us helping Iraq to kill some of them was not enough in my book for their act of war in seizing our embassy and holding those hostages for I believe more than a year. Carter was and is a total cunt (pussy is too kind a word).


--------------------


Post Extras: Print Post  Remind Me! Notify Moderator
InvisibleLe_Canard
Slightly Nutty

Registered: 05/17/03
Posts: 93,962
Loc: Earthfarm 1 Flag
Re: Another Success for Our Administration [Re: Ravus]
    #3682724 - 01/26/05 01:07 PM (12 years, 3 months ago)

What really concerns me about this is that most of this debt is financed by other countries, mostly Japan and China. They could easily pull the proverbial rug from underneath us, leading to an economic collapse....


Post Extras: Print Post  Remind Me! Notify Moderator
OfflineJ4S0N
human
 User Gallery

Registered: 07/29/04
Posts: 284
Last seen: 8 years, 9 months
Re: Another Success for Our Administration [Re: Le_Canard]
    #3682777 - 01/26/05 01:24 PM (12 years, 3 months ago)

Yes, and now the warnings are starting to surface about possible economic collapse in Ameirca.

Doom For The Dollar--And Everything Else:
http://www.forbes.com/economy/2005/01/10/cx_da_0110doomdollar.html

Central banks are starting to shift reserves to the Euro, the dollar is continuously dropping. Alan Greenspan has also been giving out warnings about high interest rates. Things arn't looking good for the economy this year.

**My crazy conspsiracy theory**don't read if you believe in coincidence theory**

This economic collapse is related to the Pan-American union. I heard Rice mention it last time I saw her on TV, and it set off a bell in my head. I think its coming soon, one currency for the America's. With reserves being transfered to Euro's, there will be really no option but to make a similar currency in the America's.


--------------------
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Former Director, CIA


Post Extras: Print Post  Remind Me! Notify Moderator
Jump to top. Pages: 1

General Interest >> Political Discussion

Similar ThreadsPosterViewsRepliesLast post
* Both Parties Decry New Military Budget, Says Will Cut Jobs Madtowntripper 921 13 04/08/09 01:00 PM
by Virus_with_Shoes
* $2.57 Trillion Budget Ravus 2,105 19 05/02/11 10:33 AM
by Phred
* The Deficit. Clean 993 3 02/09/04 10:57 AM
by afoaf
* Communists (Really!) Behind Obama Push To Cut Deficit Madtowntripper 478 4 03/14/09 04:18 PM
by Redstorm
* US Budget Deficit Drops to 5-Year Low Luddite 696 2 10/14/07 10:25 PM
by afoaf
* Pension Agency Reports $22.8B Shortfall lonestar2004 509 6 11/16/05 03:30 AM
by GabbaDj
* Lower taxes, lower deficit phi1618 315 1 09/09/08 05:57 PM
by Phred
* House passes sweeping budget-cut bill lonestar2004 1,158 15 11/19/05 01:27 AM
by RandalFlagg

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: Prisoner#1, Enlil
644 topic views. 0 members, 1 guests and 8 web crawlers are browsing this forum.
[ Toggle Favorite | Print Topic | Stats ]
Search this thread:
Zamnesia.com
Please support our sponsors.

Copyright 1997-2017 Mind Media. Some rights reserved.

Generated in 0.059 seconds spending 0.003 seconds on 14 queries.