Setting records

BigComfy · 07-28-2008, 08:37 AM

https://news.yahoo.com/s/ap/20080728/...budget_deficit

By ANDREW TAYLOR, Associated Press Writer
1 hour, 4 minutes ago

WASHINGTON - A senior Bush administration official says the budget deficit for this year will set a record in dollar terms, approaching $490 billion.

The official said Monday the deficit was being driven to record levels by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession. A deficit approaching $490 billion would easily surpass the current record deficit of $413 billion set in 2004.

The official spoke on condition of anonymity because the new deficit estimate had not been formally released. Bush administration officials were scheduled to do that at a news conference later Monday.

Scotsman · 07-28-2008, 08:41 AM

I'm not defending Bush.
However, let's not lose sight of the fact though that we have and have had a majority Democrat congress for a while as well.
The blame needs to be applied evenly.

BigComfy · 07-28-2008, 08:47 AM

Quote:

Originally Posted by Scotsman

I'm not defending Bush.
However, let's not lose sight of the fact though that we have and have had a majority Democrat congress for a while as well.
The blame needs to be applied evenly.

I concur we are dealing with 2 groups that know how to spend money at record setting paces

txferrari · 07-28-2008, 08:53 AM

.

logan5 · 07-28-2008, 08:55 AM

I remember when the Dems to control and everything was supposed to turn around ... Dems or Repubs ... it's pretty much all the same as far as progress goes.

Scotsman · 07-28-2008, 09:42 AM

Quote:

Originally Posted by txferrari

Yawn...old news. Bush is almost out of here so who cares anymore.
Look forward to the future!!!!

I filled up at $3.50 a gallon on Saturday. I'm good.

The future is not bright from my point of view.

There's a LOT of issues that this country needs to address that keep getting swept under the rug, and Joe Average doesn't seem to care.
As long as they can buy their $5.00 Starbucks, drive their gas guzzling SUV and buy their plasma T.V. so they can watch American Idol and keep their head in the sand / up their .

The government knows this and will try to keep the sheep content as long as they can until they find themselves enslaved.

Enjoy the $3.50 gas while you can, it's going to do nothing but increase.

Moody · 07-28-2008, 10:21 AM

My projections for the rise of gas where to see close to $5 at the pump by Labor day. At my suprise they went for the throat a lot faster by pushing those prices by the 4th of July. This is a scary picture for those who understand the realities of how things work.

Anybody else here ever been shark fishing? Understand where I am going with this?

Thermalser · 07-28-2008, 03:14 PM

Asians nations are buying Treasury debt and thereby keeping U.S. interest rates lower than would be the case if they stopped buying. At some point, they will stop buying: private investors, central banks, and commercial banks. At that point, the Treasury will have to find replacement buyers. It is unlikely that the Treasury will be able to persuade new buyers of its debt to do so at the low rates that prevailed before Asians politely bowed out.

The vast majority of Americans know nothing about this. They are not aware of the relationship between U.S. government debt, mortgage interest rates, the economy, and Asian central banks. They do not spend time thinking about possible scenarios that might result if Asian central banks cease buying dollar-denominated debt, including Treasury debt. They assume that someone is taking care of this. But nobody is.

NorthHoustonGSXR · 03:20 PM

my fiance must be running congress...she spends $ like that. lol

All kidding aside...Congress and the house and such should be populated with those individuals who are middle class making an average income. In order for the general public to be represented fairly, when should be governed by peers of equal wealth and educational backgrounds. Some one making a few hundred thousand a year cannot completely understand what it is like for a family of four making a combined income of $40,000 and share the same views and spending habits of those less priveldged. IMO

Faylaricia · 07-28-2008, 03:29 PM

Good luck with middle class, I think most politicians in Congress or the Texas Legislature are lawyers.

Quote:

Originally Posted by NorthHoustonCBR

Congress and the house and such should be populated with those individuals who are middle class making an average income. In order for the general public to be represented fairly, when should be governed by peers of equal wealth and educational backgrounds. Some one making a few hundred thousand a year cannot completely understand what it is like for a family of four making a combined income of $40,000 and share the same views and spending habits of those less priveldged. IMO

07-28-2008, 08:37 AM	#1
BigComfy Senior Member Join Date: Jun 2005 Location: under a rock Feedback Rating: (3) Posts: 24,849 Experience: 1-3 months Trackdays: 9 Bike(s): Missing: Naked SV650, FZ1, Night Hawk Best Upgrade:Sv650 Suspension full credit (Motorcycles Unlimited)	Setting records https://news.yahoo.com/s/ap/20080728/...budget_deficit By ANDREW TAYLOR, Associated Press Writer 1 hour, 4 minutes ago WASHINGTON - A senior Bush administration official says the budget deficit for this year will set a record in dollar terms, approaching $490 billion. The official said Monday the deficit was being driven to record levels by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession. A deficit approaching $490 billion would easily surpass the current record deficit of $413 billion set in 2004. The official spoke on condition of anonymity because the new deficit estimate had not been formally released. Bush administration officials were scheduled to do that at a news conference later Monday.
	__________________ "I haven't seen the crash, but I think Marc needs to be penalized for two or three seasons! Until I stop racing!"-VR46

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07-28-2008, 08:41 AM	#2
Scotsman Moderator Join Date: Jan 2000 Feedback Rating: (0) Posts: 1,354	I'm not defending Bush. However, let's not lose sight of the fact though that we have and have had a majority Democrat congress for a while as well. The blame needs to be applied evenly.
	__________________ www.havefunwithyourmouseIhavegoneriding.com

07-28-2008, 08:53 AM	#4
txferrari Banned Join Date: Nov 2006 Location: Katy Feedback Rating: (2) Posts: 10,090 Experience: 10+ years	User is banned .

07-28-2008, 08:55 AM	#5
logan5 Senior Member Join Date: Feb 2007 Location: Friendswood Feedback Rating: (5) Posts: 5,847 Bike(s): 2001 SV 650 (my track ), 2005 SV 650s	I remember when the Dems to control and everything was supposed to turn around ... Dems or Repubs ... it's pretty much all the same as far as progress goes.
	__________________ Ben Franklin once told us that “The Constitution only gives people the right to pursue happiness. You have to catch it yourself.” "Blessed are the young for they shall inherit the national debt" Herbert Hoover

07-28-2008, 10:21 AM	#7
Moody Holy Smokes! Join Date: Apr 2005 Feedback Rating: (4) Posts: 14,594 Bike(s): 281	My projections for the rise of gas where to see close to $5 at the pump by Labor day. At my suprise they went for the throat a lot faster by pushing those prices by the 4th of July. This is a scary picture for those who understand the realities of how things work. Anybody else here ever been shark fishing? Understand where I am going with this?
	__________________ Open your eyes and reclaim the freedom you were born with. - Moody

07-28-2008, 03:14 PM	#8
Thermalser Senior Member Join Date: Oct 2006 Location: Houston, TX Feedback Rating: (1) Posts: 2,085 Bike(s): FZ1, GSXR 750	Asians nations are buying Treasury debt and thereby keeping U.S. interest rates lower than would be the case if they stopped buying. At some point, they will stop buying: private investors, central banks, and commercial banks. At that point, the Treasury will have to find replacement buyers. It is unlikely that the Treasury will be able to persuade new buyers of its debt to do so at the low rates that prevailed before Asians politely bowed out. The vast majority of Americans know nothing about this. They are not aware of the relationship between U.S. government debt, mortgage interest rates, the economy, and Asian central banks. They do not spend time thinking about possible scenarios that might result if Asian central banks cease buying dollar-denominated debt, including Treasury debt. They assume that someone is taking care of this. But nobody is.
	__________________ Stuart Dimension Capital Advisors

07-28-2008, 03:15 PM	#9
NorthHoustonGSXR Yes I do. Join Date: Jun 2007 Location: Kingwood Texas Feedback Rating: (5) Posts: 3,993 Bike(s): 2006 GSX 600R mystery bike 2000 CBR600F4 track only (SOLD)	my fiance must be running congress...she spends $ like that. lol All kidding aside...Congress and the house and such should be populated with those individuals who are middle class making an average income. In order for the general public to be represented fairly, when should be governed by peers of equal wealth and educational backgrounds. Some one making a few hundred thousand a year cannot completely understand what it is like for a family of four making a combined income of $40,000 and share the same views and spending habits of those less priveldged. IMO
	__________________ GOVERNMENT IS THE REAL MIDDLE MAN. COMMON BUSINESS PRACTICE IS TO ELIMINATE THE MIDDLE MAN. Last edited by NorthHoustonGSXR; 07-28-2008 at 03:20 PM.