The headline: href="http://www.washingtonpost.com/wp-dyn/content/article/2007/08/10/AR2007081001204.html">Federal
Deficit Sharply Lower.
The text: The lower year-to-date
deficit was the
result of a record of $2.12 trillion in revenues. Spending, however,
was higher -- $2.27 trillion, which also marked an all-time high.
So we spent more than we brought in, but the deficit is lower?
No,
the rate of increase in the deficit is lower.
The deficit is still getting bigger. Last year the
deficit went up $239 billion. This year it is
was projected to be "only" $205 billion. I say was
projected, because the projection was made before
the stock market went into the tank. Now the bean counters
are going to have to find some more beans.
Of course, I don't actually believe any of those numbers, anyway, so I
don't know why I bothered to post this.
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I think you might be confused. The deficit is the yearly measure of the balance of spending and revenue. The debt is the total amount of money the government owes. So even if the deficit goes down, the debt still goes up.
Revenues & expenditures were both higher, but the gap was lower. America is still financially worse off than last year, but not as worse as if you'd had another year like last year.
The best part of this article was when 'Bush urged spending restraint'. It sounds like the tail end of a joke.
I am going to leave this country ( almost certainly to a country that provides national health care) because of our national debt.
A true accounting projects something like 20-50 trillion dollars in the not too distant future (no - I do not feel Social Security has anything to do with this) pretty much thanks to our current pResident.
We are at, what, now - 5-7 trillion ?, and the world markets are getting very scary. I want to get out while I can still get more than $25.00 for my house. :(