White House: 2014 deficit to drop $100B

White House: 2014 deficit to drop $100B

There are 39 comments on the The Modesto Bee story from Jul 11, 2014, titled White House: 2014 deficit to drop $100B. In it, The Modesto Bee reports that:

Last year's deficit was $680 billion. The latest update from the White House budget office is also $66 billion less than the administration predicted earlier this year when releasing the president's budget.

Join the discussion below, or Read more at The Modesto Bee.

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Since: Oct 12

Location hidden

#1 Jul 11, 2014
Just working hard to drop GW's....er, the Deficit.....
bite me

San Francisco, CA

#2 Jul 11, 2014
Oh, looky, Obama dropped to one knee and picked up a dime! So we're now going bankrupt at a rate whose increase has dropped somewhere between a smidgen and a gnat's ass.

It's as if you paid double the minimum required payment on your credit card for one whole month, paying $20, even though you owe $100,000 on it!

WE'RE SAVED!

Since: Mar 09

The Left Coast

#4 Jul 11, 2014
This is progressive math. If you planned on spending $600billion more than you earned, but you only spent $500billion over, progressively, you actually made $100billion.
whiffer

San Francisco, CA

#5 Jul 11, 2014
RustyS wrote:
This is progressive math. If you planned on spending $600billion more than you earned, but you only spent $500billion over, progressively, you actually made $100billion.
LOL! That's a good one. By that reasoning my dirtbag cousin Dave is the richest guy I know. He always plans to spend more than he earns and never saves a dime. But since the credit card companies no longer extend him credit, he's "saved" tons by not being in debt as much as he'd be on his own.

I never knew Dave was such a progressive thinker! I always thought he was just an idiot.(Is there a difference?)
Kim Chi Un

Tempe, AZ

#6 Jul 11, 2014
RustyS wrote:
This is progressive math. If you planned on spending $600billion more than you earned, but you only spent $500billion over, progressively, you actually made $100billion.
;) it"s a Deaf+fee+sit=Deficit;-00h, remember Sirplus Bill? just add the DOW, Nasduck, & S+P!!! U"ll C;-00

Since: Aug 12

Buffalo, NY

#7 Jul 12, 2014
RustyS wrote:
This is progressive math. If you planned on spending $600billion more than you earned, but you only spent $500billion over, progressively, you actually made $100billion.
And regressive math forgets the start point..Obama had to nurse a crippled economy back to health. We are not saying the economic recovery is "Mission accomplished"... Even a guy like you has to be truthful on two things...The economy W. handed to Obama was a train wreck and less debt is a good thing....

Since: Mar 09

The Left Coast

#8 Jul 12, 2014
Buffalo Bull wrote:
<quoted text>
And regressive math forgets the start point..Obama had to nurse a crippled economy back to health. We are not saying the economic recovery is "Mission accomplished"... Even a guy like you has to be truthful on two things...The economy W. handed to Obama was a train wreck and less debt is a good thing....
I can agree the economy is tough and less debt is a good thing. Wish we weren't heading down the road we are with inflation creeping forward. Obama has added over $7TRILLION to our debt.'Economic recovery' is easier if the government subsidizes it. The fact is we are $17TRILLION in debt and spending (borrowing) money at record speed. We are now using our Visa card to pay the minimum on our maxed out Master card and making plans to get another credit card so we're not so broke. Time will tell if we can spend out way out of debt.

Since: Aug 12

Buffalo, NY

#9 Jul 12, 2014
RustyS wrote:
<quoted text>
I can agree the economy is tough and less debt is a good thing. Wish we weren't heading down the road we are with inflation creeping forward. Obama has added over $7TRILLION to our debt.'Economic recovery' is easier if the government subsidizes it. The fact is we are $17TRILLION in debt and spending (borrowing) money at record speed. We are now using our Visa card to pay the minimum on our maxed out Master card and making plans to get another credit card so we're not so broke. Time will tell if we can spend out way out of debt.
Eventually what you spend and bring in have to come to at lest a rough balance..some debt is in no way toxic. So you would have taken a different path than the President has, lets see if you can outline for me a plan that would have taken W.'s train wreck and balanced the budget within his 8 years without taking a deep recession and turning it into a depression. By propping up spending in his first term the President had preserved a nice chunk of the tax base. A shrinking tax base leads to debt as sure as spending. The bailouts (W.'S idea) have been more or less re-paid and those portions of the tax base have remained intact. Debt is on a downwards track...About all one could achieve with a obstructionist house, in 6 years..
So please Rusty outline a program of spending cuts only.. that would first pass the Senate.. and actually would have balanced the budget. Without a greater risk of depression in the first couple years.
Not mission accomplished.. But the sinking ship the president inherited made it to port and is near repaired... not too bad I would say

Since: Mar 09

The Left Coast

#10 Jul 12, 2014
Tell you what BB, give me $250K/yr for life, the best medical care for free, a lifetime security detail, free 6 star room & board, use of AF1,$100million vacations and unlimited access to 'investment opportunities' and I'll put together a plan for you.

Just for the record $7trillion in 5 years should go a long ways to, as you say, prop up the economy. The rich have gotten richer and working people are paying more for gas, food, housing and health care. But if you say we need to continue borrowing more and more money to solve the problem, progressives are in control, so it's your call.

The current national debt is $17.6TRILLION or $55,000 for every man, woman and child in the United States. Maybe we should be making a plan how we'll pay that off.

Since: Oct 12

Location hidden

#11 Jul 13, 2014
How much of that $7 Trillion was from both of the Wars, GW started and never paid for?......That's always conveniently forgotten....

Since: Aug 12

Buffalo, NY

#12 Jul 13, 2014
RustyS wrote:
Tell you what BB, give me $250K/yr for life, the best medical care for free, a lifetime security detail, free 6 star room & board, use of AF1,$100million vacations and unlimited access to 'investment opportunities' and I'll put together a plan for you.
Just for the record $7trillion in 5 years should go a long ways to, as you say, prop up the economy. The rich have gotten richer and working people are paying more for gas, food, housing and health care. But if you say we need to continue borrowing more and more money to solve the problem, progressives are in control, so it's your call.
The current national debt is $17.6TRILLION or $55,000 for every man, woman and child in the United States. Maybe we should be making a plan how we'll pay that off.
so you say......"Tell you what BB, give me $250K/yr for life".......give you? "The Give it to me I am entitled" rap.... by golly if i had it... i did the work .
You seemed to be a bit better than to just rely on anger as a reply we get enough of that from both camps... answers... far fewer.
Some of what we face is systemic....
I don't see a easy way out.. You are right about the rich getting richer...That is an feature of the greatest wealth generating economics system mankind has devised...Capitalism... when we let the business men and women loose armed with preferable tax treatment (Romney's 15% effective rate) and expect them to invest it in job generating schemes...they being human make sure their bread is buttered first.. two ways to curb it in a Capitalist economy...tax their bread and buttter or regulate their activities...either one would theoreticaly spread the wealth and slow the economy... you endorsing either?... have a third idea?

Since: Aug 12

Buffalo, NY

#13 Jul 13, 2014
Go Blue Forever wrote:
How much of that $7 Trillion was from both of the Wars, GW started and never paid for?......That's always conveniently forgotten....
True....
The W. Presidency was by no measure fiscally responsible...
kuda

Cincinnati, OH

#14 Jul 13, 2014
<<White House: 2014 deficit to drop $100B>>

What terrible news for tea partiers who hold President Obama responsible for the deficit he inherited. How're they going to try to explain this? I suppose they'll just have to ignore the subject.
foster

Ashburn, VA

#15 Jul 13, 2014
RustyS wrote:
<quoted text>
I can agree the economy is tough and less debt is a good thing. Wish we weren't heading down the road we are with inflation creeping forward. Obama has added over $7TRILLION to our debt.'Economic recovery' is easier if the government subsidizes it. The fact is we are $17TRILLION in debt and spending (borrowing) money at record speed. We are now using our Visa card to pay the minimum on our maxed out Master card and making plans to get another credit card so we're not so broke. Time will tell if we can spend out way out of debt.
Republicans in Congress dont agree. They just passed a $278 Bil Corp Tax Cut but refused $35 Bil for the VA
foster

Ashburn, VA

#16 Jul 13, 2014
RustyS wrote:
Tell you what BB, give me $250K/yr for life, the best medical care for free, a lifetime security detail, free 6 star room & board, use of AF1,$100million vacations and unlimited access to 'investment opportunities' and I'll put together a plan for you.
Just for the record $7trillion in 5 years should go a long ways to, as you say, prop up the economy. The rich have gotten richer and working people are paying more for gas, food, housing and health care. But if you say we need to continue borrowing more and more money to solve the problem, progressives are in control, so it's your call.
The current national debt is $17.6TRILLION or $55,000 for every man, woman and child in the United States. Maybe we should be making a plan how we'll pay that off.
Manage the debt by keeping Republicans on the sidelines. They have never reduced deficits. Obama is on record pace in eliminating W's debts

Since: Oct 12

Location hidden

#17 Jul 13, 2014
foster wrote:
<quoted text>
Republicans in Congress dont agree. They just passed a $278 Bil Corp Tax Cut but refused $35 Bil for the VA
Brutal, isn't it?.....American's are gonna remember, what ass's the teaparty House republicans were to this President and the American people....especially after GW.....
foster

Ashburn, VA

#18 Jul 13, 2014
Go Blue Forever wrote:
How much of that $7 Trillion was from both of the Wars, GW started and never paid for?......That's always conveniently forgotten....
Wars & Tax Cuts. Last week the House voted to add $285 Bil in deficit spending Tax Cuts to the $17 Tri debt. But failed the Veterans again for VA help of $35 Bill
foster

Ashburn, VA

#19 Jul 13, 2014
Go Blue Forever wrote:
<quoted text> Brutal, isn't it?.....American's are gonna remember, what ass's the teaparty House republicans were to this President and the American people....especially after GW.....
Thats GOP SOP, get your attention with phony scandals while picking the pockets of social security with tax cut spending for a few. Skunk politics
Freedom First

North York, Canada

#20 Jul 13, 2014
foster wrote:
<quoted text>
Manage the debt by keeping Republicans on the sidelines. They have never reduced deficits. Obama is on record pace in eliminating W's debts
If we only had GW's debt instead of the huge debt Obama has created. The only reason I can think of that debt has recently declined is the Obama's and their entire families have slacked off on going on vacations every other week. It costs a fortune for protection for every distant family member on these overseas escursions and is a waste of taxpayer money. I suggest since it is all borrowed at the expense of our grandchildren that we require the president and family to pay for their vacations like we do. We elected the president to do a job (keep some of those promises he made) not to be the vacation president.

Since: Mar 09

The Left Coast

#21 Jul 13, 2014
Buffalo Bull wrote:
<quoted text>
so you say......"Tell you what BB, give me $250K/yr for life".......give you? "The Give it to me I am entitled" rap.... by golly if i had it... i did the work .
You seemed to be a bit better than to just rely on anger as a reply we get enough of that from both camps... answers... far fewer.
Some of what we face is systemic....
I don't see a easy way out.. You are right about the rich getting richer...That is an feature of the greatest wealth generating economics system mankind has devised...Capitalism... when we let the business men and women loose armed with preferable tax treatment (Romney's 15% effective rate) and expect them to invest it in job generating schemes...they being human make sure their bread is buttered first.. two ways to curb it in a Capitalist economy...tax their bread and buttter or regulate their activities...either one would theoreticaly spread the wealth and slow the economy... you endorsing either?... have a third idea?
As a matter of fact I do. We vote ALL incumbent congressmen out of office. We institute term limits. We eliminate all congressional retirement programs. If there is no measurable progress after 4years, we do it again.

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