2015 Deficit projected 20% higher despite new records in revenue

[UCFKnight85]

I eagerly await chemmie to tell us how awesome the White House continues to perform with managing deficits.


" The data that the White House published with President Obama's fiscal 2016 budget proposal yesterday indicate that the federal deficit will increase by 20 percent during this fiscal year (2015) even though the administration predicts the Treasury will bring in record revenue during the year.


According to Table S-1 in the "Summary Tables" appendix to the Obama budget, the deficit was $485 billion in fiscal 2014 and will be $583 billion in fiscal 2015-an increase of $98 billion, or 20.2 percent.


The federal fiscal year begins on Oct. 1 and ends on Sept. 30.


In fiscal year 2015, according to the Obama budget tables, the federal government will take in $3.176 trillion in tax revenue and spend $3.759 trillion.


The $3.176 trillion in tax revenues the White House estimates the federal government will bring in this year is a record in both current and inflation-adjusted dollars."

http://www.cnsnews.com/news/article/terence-p-jeffrey/white-house-deficit-will-increase-20-year-despite-record-tax-revenue

 

[chemmie]

You mean the budget that hasn't been debated, changed, compromised, voted on, or even implemented yet?

Why didn't you post a couple weeks ago when the CBO projected the deficit to decline more than their last estimate?

Alas, I don't care about projections like you do. I care about results. And results show the deficit is a third of what it was when Obama took over from a Republican.
...this is similar to what happened when Clinton took over after two Republicans.

 

[UCFKnight85]

Originally posted by chemmie:
You mean the budget that hasn't been debated, changed, compromised, voted on, or even implemented yet?

Why didn't you post a couple weeks ago when the CBO projected the deficit to decline more than their last estimate?

Alas, I don't care about projections like you do. I care about results. And results show the deficit is a third of what it was when Obama took over from a Republican.
...this is similar to what happened when Clinton took over after two Republicans.

What a hilariously predictable reply. "I don't care about these realities, I only care about my manufactured talking point!"

Yes, our deficit is 1/3 of what it was in 2009. And yet we're still running historical record deficits and they're only set to get worse and worse over the next 10 years. And doing so at a time when this country has record setting tax revenues.

We did not have an inflation adjusted deficit larger than $500B until 2009; now we are projected to go below this threshold just twice in the next 10 years before deficits balloon to $1T once again.

You're the master of advancing a very narrow, biased viewpoint.

 

[UCFWayne]

You two are prefect for each other.

 

[chemmie]

Actual data that has already happened = "manufactured talking point"

Projections in a budget which has yet to be debated, compromised, changed, voted on, signed, or implemented = "reality"


You're a moron.

 

[UCFKnight85]

Originally posted by chemmie:
Actual data that has already happened = "manufactured talking point"

Projections in a budget which has yet to be debated, compromised, changed, voted on, signed, or implemented = "reality"


You're a moron.

Actually the CBO made their projections using established law from last year and updated their projections based upon the new budget just submitted. It's in the f*cking established law- that's what they're using.

It's amazing how utterly shitty your knowledge of actual political matters are; and yet you continue attempting to debate anyways.