U.S. budget deficit down 37.6 percent through July

Government remains on track to post lowest annual budget gap in five years
Associated Press
Aug 12, 2013

 

The government on Monday reported a $97.6 billion deficit for July but remains on track to post its lowest annual budget gap in five years.

July's figure raises the deficit so far for the 2013 budget year to $607.4 billion, the government says. That's 37.6 percent below the $973.8 billion deficit for the first 10 months of the 2012 budget year.

The Congressional Budget Office has forecast that the annual deficit will be $670 billion when the budget year ends Sept. 30, far below last year's $1.09 trillion. It would mark the first year that the gap between spending and revenue has been below $1 trillion since 2008.

Steady economic growth, higher taxes, lower government spending and increased dividends from mortgage giants Fannie Mae and Freddie Mac have helped shrink the deficit.

Still, looming budget fights in Congress are complicating the picture. When lawmakers return from their recess in September, they will need to increase the government's borrowing limit. They will also have to approve a spending plan for the budget year that begins Oct. 1. Republicans and Democrats remain far apart on both measures.

Republicans want President Barack Obama to accept deeper cuts in domestic government programs and in expensive benefit programs such as Medicare and Social Security. Obama has argued that Republicans must be willing to accept higher taxes on the highest-earning Americans.

Conservative House Republicans have signaled a willingness to force a partial government shutdown as a way of defunding Obama's universal health care law, which they oppose.

A possible compromise would be to approve a stopgap budget to keep the government operating after Oct. 1 while both sides seek a permanent solution.

Obama has vowed not to negotiate with Congress over raising the borrowing limit as he did in 2011. But some Republicans want to test the president's resolve even if it rattles financial markets. Investors fear a doomsday scenario in which the country would default on its debt, which it has never done.

Through July, the government collected $2.29 trillion in revenue, up 13.9 percent from the same 10 months last year. Government spending during this period totaled $2.89 trillion, down 2.9 percent from a year ago. That decline reflects, in part, automatic government spending cuts that began taking effect March 1.

Collectively, the government's deficits increase the national debt, now at $16.7 trillion.

 

Comments

looking around

Lets hear the republicans wine.....

shucks

Oh how they love to whine and b!tch and deny reality.

arnmcrmn

Seems like you guys just do not understand why this number is low. Its because the Republicans hold the checkbook in the House and won't let the Dems just spend at will.
Thanks Republicans.

anthras

How do we know that the numbers are correct?? The Obama group advises that the treasury ran a $98 billion deficit in July but the debt stayed $16,699,396,000,000 and it has been that amount for 87 straight days. How do they do it well treasury secretary Lew sent a letter to House Speaker Boehner saying he was beginning a standard set of extraordinary measures to prevent the treasury from exceeding the legal limit. Hope he can stay out of jail with his extraordinary measures

The Hero Zone's picture
The Hero Zone

If I remember correctly if we took everything from everyone in the top 1% (or close to it) that would only fund the Federal government for something like 100 days. Of course it would also kill the golden goose. Eating the rich, as the phrase goes, is a drop in the bucket and won't solve things. Neither will cutting to prosperity. I, for one, am tired of seeing this line repeated in newspapers every six months or so:

"A possible compromise would be to approve a stopgap budget to keep the government operating after [X date] while both sides seek a permanent solution."

It is also schizophrenic for Congress to simultaneously whine and moan about efforts like sequestration that they wrote and the President signed then brag that they didn't hemorrhage as much money as they did last year.

We're almost SEVENTEEN TRILLION in debt with an interest that I imagine is crushing and our leaders are dancing around a few billion in crumbs. Congress should just pass a bill saying that they don't have to operate on a borrowing limit, they never have to pay back any debt incurred, and that the national debt is now and forever declared to be $0 and only an act of Congress must in a super majority be needed to declare it to be anything else even if it is $1 no matter what the CBO or anyone else says.

There's an elephant in the room that nobody is talking about because they are too busy fidgeting the doilies for the tea set every five minutes so the dining room looks perfect for guests who will never ever come over.

The Big Dog's back

Wow hero, you need to address some of those issues you have.

The Hero Zone's picture
The Hero Zone

Which? My being tired of the can being kicked down the road? The bipolar Congress? The fact that we may as well just not actually ever budget or try to live within a budget as a nation? My frustrations are bipartisan and multi-administration. I claim no political Master Race because, well, if anyone does...the context of this sentence speaks much about them.

PyrkinsPyrate

What would be better for our economy than people wasting time on tea cups would be if all the grown men in America got into comic books and fantasy collector cards.

The Hero Zone's picture
The Hero Zone

It would certainly employ a lot of artists and writers. It may teach them sportsmanship and how to create and disseminate an effective message. It would also illustrate rule interactions, mechanics vs. fluff, how to create something attractive, and many other sorely-needed lessons. It would also be a good reminder at how angry people can be when someone ruins something good that otherwise has a positive history.

Bottom Line

Lowest budget gap in five years... And Obama got elected how long ago? Oh yeah.

grumpy

The interest is not as bad as it will be when the fed stops printing money to by more debt. Then the rates will go up and the payment for interest will skyrocket.

Then as to another reason the deficit is down is the sequester. It HASN'T cut the budget. The budget has continued to grow under the sequester. What HAS been cut is the rate of the increase in spending. That has helped cut the budget.

The rest of the budget deficit decrease has been the tax increases on the 1% that Hero Zone has written of... much better and clearer than I would be able to.

Remember when, or if you whine about the sequester that is in effect... the President, or someone in the administration came up with that, and the prez suggested it, even if he did so as a last resort, if you don't like it you know who to blame for coming up with it.

Personally I like the sequester... it takes it out of the children's (the congress's and the president's) hands and will force them to do their jobs. If not we can point at who is to blame, the congress and president.

Wall Street likes the President's sequester idea and like the implementation even more. Obama seems to help those who serve in his cabinet and administration and used to work on Wall Street, till they get tired of politics, and then go back to Wall Street... again.

Maggdi

Sooo........ a $300 Billion deficit is an abomination. And hence we elect Mr. Obama.
But since a $607 Billion deficit is 37% less than a 1.09 Trillion deficit... we're getting somewhere.. After 5 years.
I feel so much better.
HAPPY DAYS ARE HERE AGAIN!

Donegan

The Fed prints 850 billion every 10 months, 85 billion a month. Still saving money?

coasterfan

How interesting. It seems that the policies of the Obama administration are working.

Low interest rates? Check. Improved housing market? Check. Low Inflation? Check. Steadily decreasing unemployment for 4+ years? Check. Obamacare working in states that want it to work? Check. Improved Jobs availability? Slow but steady improvement sure beats the tens of thousands of jobs we were losing each month in 2008. Check.

Republicans, of course, are certain they know how to stop all of the above ("We can't let things improve, that would make Obama look good!). They are counting on each of you to help them stop the progress. If their strategy sounds counter-intuitive, it's because it is...

arnmcrmn

Interest rates have been super low since the Bush Admin.
The housing market analysts have said its a stagnant recovering housing market.
Inflation low? Bahahahahahaha
Unemployment steadily lower? 7.8 5 years ago......7.6 now. Bahahaha yup steady decrease.
Obamacare is killing this nation.....FACT.

I really cannot believe that some people are just so blind to the facts.

coasterfan

1. Housing market has steadily improved over last year or so. New home building is up, and houses are selling easier and for more money than a year ago.

2. Unemployment went to nearly 10% during the Bush Economic FreeFall of 2008. It's now 7.4, the lowest in more than 5 years. Shown as a bar graph, the improvement cannot be denied: http://data.bls.gov/timeseries/L...

3. In California and NY, 2 states where Obamacare has been embraced, it's actually saving people more $ than even the most optimistic projections. State-sponsored health care has not killed any other nation. Like Social Security and other Progressive reforms the GOP has fought, within 5-10 years everyone will realize that it was clearly the right thing to do.

4. I can't believe that people are so blind to measurable statistics, and accept Fox opinions as fact.

Contango

Re: "Unemployment went to nearly 10% during the Bush Economic FreeFall of 2008."

Nope.

The facts, not nonsensical political rhetoric:

http://data.bls.gov/timeseries/L...

Your EXACT same link. You CAN read can't you Comrade Teacher?

There you go again

So....it took Obama 5 years to get the country's budget heading in the right direction. And we are suppose to be happy that he has reach a level equal to what "he inherited". This is something to get excited about?!?!

deertracker

there you go again!

coasterfan

Taking a snapshot of where things were in January 2009 doesn't provide an accurate picture. Our economy was on a precipitous decline (like nothing we've seen since 1929). A truck going downhill with no brakes takes skill and time to get stopped. This truck wasn't going downhill, it was going over a cliff.

Of course, the turnaround would have started sooner had the GOP not fought Obama's every effort to right the ship. Fast forward 5 years, and they are still making all the wrong moves with the economy (can anyone say "Republican-induced Fiscal Cliff"?)

2cents's picture
2cents

(it took Obama 5 years to get the country's budget heading in the RIGHT direction)

Well not really, he is still heading to the left, far left : )

coasterfan

An interesting comment, since many Democrats are upset with him for moving further and further to the Right during his tenure.

Contango

Re: "Steady economic growth, higher taxes, lower government spending and increased dividends from mortgage giants Fannie Mae and Freddie Mac have helped shrink the deficit."

Thank the Federal Reserve's ZIRP & QE policies and the Sequester cuts.

Div'ds from Fannie and Freddie? The Federal Reserve has been buying $40 billion of mortgage backed securities monthly.

The govt. is funding approx. 95% of the home financing in the U.S.

Pres. Obama's policies working? Not hardly.

Besides, other than b*tch about Repubs, what 'exactly' are his "policies"?

arnmcrmn

A big Thank You to the House for not allowing Obie to just spend whatever he wants to spend.

deertracker

There is nothing good this President can do to EVER please the usual suspects! SMDH!

coasterfan

The same folks who deny science and other evidence-based data are the same ones who are denying that things are getting better. They actually believe that our country was in a better place economically in 2007-2008 under Republican leadership than it is in 2013 under Obama. Life inside the Fox Bubble...

anthras

It was much better up until 2006 and it then got much worse after the democrats took over congress.

SamAdams

Au contraire! He could resign, and I assure you I would be VERY pleased by that!

deertracker

Would you like to rehire W? You just don't like the guy but you cannot do a better job nor can anyone in your political party. COMPLAIN, COMPLAIN, COMPLAIN BUT OFFER NO SOLUTIONS.

coasterfan

Yep, that's my point. Things would be far, far, FAR worse had McCain or Romney been elected, since both would have doubled down on the things Bush did. Things that clearly did not work.

Contango

Re: "Things would be far, far, FAR worse had McCain or Romney been elected,"

Nonsensical unprovable speculation.

Mr. Obama has essentially continued the Bush Admin. economic policies - ON STEROIDS.

EZOB

Deertracker, Resign would be a start.
I won't comment further because trying to explain economics to the Left-Wingers well, I might as well explain in Chinese.

SamAdams

...and if Obama keeps up the "good" work,you WILL be explaining it in Chinese!

deertracker

It's hard to explain something you have NO knowledge of.

grumpy

"It's hard to explain something you have NO knowledge of."

That is why no one expects you to explain any of the statements you make.

deertracker

No, YOU are just not intelligent enough. Not my fault. Try being logical instead of grumpy! Might help!

Buckeye_Nation

it's funny how everyone says that if you could explain economics to someone, then it would make sense. It should not be that hard, people with money need to spend money in order for everyone else to be able to have the money to spend to help keep the rich a@@holes in their plush new homes and fancy cars, but the rich just want to keep their money for themselves and screw everyone else, which in the end will only screw themselves, but your right economics is too hard to understand if your a rightwing nutjob

Contango

Re: "but the rich just want to keep their money for themselves"

And where do they keep it?

In a shoebox under a bed? In a closet?

The Big Dog's back

Speaking of right wing nutjobs.

coasterfan

The deficit has risen under every GOP president over the past 30 years, and has fallen under every Democrat president over the same time span. Bush put two unfunded wars on our country's credit card, while lowering incoming funding via tax cuts. That's called fiscally irresponsible or fiscally stupid - take your pick.

Republicans continue to seek to starve our economy through Draconian tax cuts, at precisely the time when most economic experts say the exact opposite should be done. The current president is still fixing the last GOP economy screw-up.

Why do people like EZOB deny that our shared history - the past 13 years we have all lived through - actually happened? It's only been 5 years since the Bush Recession, the worst since the 1930's. I would no more consult a Republican for national economic strategy than I would consult a sumo wrestler for diet hints.

Donegan

It is funny that even your metaphor is completely wrong. Sumo wrestlers main purpose is to deal 24/7 with a diet, You may not understand what a diet actually is so ill help you.

di·et
1 [dahy-it] Show IPA noun, verb, di·et·ed, di·et·ing, adjective

noun
1.
food and drink considered in terms of its qualities, composition, and its effects on health: Milk is a wholesome article of diet.

2.
a particular selection of food, especially as designed or prescribed to improve a person's physical condition or to prevent or treat a disease: a diet low in sugar.

3.
such a selection or a limitation on the amount a person eats for reducing weight: No pie for me, I'm on a diet.

4.
the foods eaten, as by a particular person or group: The native diet consists of fish and fruit.

5.
food or feed habitually eaten or provided:
Thats the Sumo wrestlers main occupation is dealing with diets to maintain thier weight http://www.livestrong.com/articl... Maybe if you knew more about the world around you people could take you serious.

deertracker

You need to learn to spell. You also need a diet that does not include faux news!

coasterfan

LOL, I'll admit that I don't know diddly about sumo wrestling. I'll pick a different metaphor. How's this: I would no more consult a Republican for economic strategy hints than I would consult a Republican for scientific strategy on global warming or scientific information on human conception.

The only people I know who don't take me seriously are extreme rightwingnuts. I can absolutely live with that.

Donegan

The only people who take you serious are the gullible. From what i have seen you only rehash Obama talking points to the point where you are a fanatic, Nobody to be taken seriously at all. (If you havent noticed You guy in the WH is bailing out eveyone BUT you)

deertracker

Did you get bailed out?

Donegan

So you try to insult me? It is comical that you think i actually respect you enough to be offended. I always know when i hit too close to the mark, You Worshippers get all flustered and start trying to insult, Thanks for the validation i am correct.

deertracker

I don't care for or need your respect. Don't flatter yourself!

shucks

"So you try to insult me?"

.......Donegan --- You're ANOTHER crank.< That's not an insult, that's a fact.

2cents's picture
2cents

(You need to learn to spell. You also need a diet that does not include faux news)

Spell? (faux news) LOL

deertracker

Yes, faux news!

shucks

faux news = Fox News

You've NEVER heard that , 2cents ?

People have been saying "Faux news" for years.

SamAdams

Okay, this year's deficit is less than the "new normal." Goodie. Enjoy it while it lasts, folks. Obamacare ALONE will institute a whole NEW "new normal" if it proceeds as planned, and even the most liberal of you are NOT gonna like it much...

deertracker

Do you have health insurance? How has Obamacare affected it negatively? Are you paying more and getting less? Any kids under 26 or with health issues? Your constant whining is so TIRED!

SamAdams

No, I don't. And the latest premium information I've got (for an Obamacare-compliant policy) shows the monthly costs to be even higher than the premiums I couldn't afford several years ago, and which made me drop my coverage in the first place. So lucky me: I get to risk everything by TRYING to pay premiums I won't be able to keep up for long, or I get to pay a fine for not buying something the government has no business forcing ANYbody to buy (and those fines, as they escalate, will ALSO prove unaffordable).

I'm not JUST against Obamacare because it's unconstitutional as he11. I'm against Obamacare PERSONALLY because it's risking all I have, quite literally. That's not a complaint; it's a fact. What, pray tell, do you suggest everyone like ME does about it, eh? Let's hear YOU come up with some rational and reasonable answers for a change!

deertracker

The health exchanges are not set up yet Sam so where did you get your quote? How much are you going to pay if you need to go the ER? How is it the fault of Obamacare you had to drop your ins. years ago? How are you risking EVERYTHING by having health ins.? Is this fine going to come in the mail or is it going to be like a citation? Unconstitutional? SCOTUS disagrees. You have no ideal what rational or reasonable even means.

SamAdams

There are numerous places both online and locally where you can get quotes on several different levels of Obamacare-compliant policies. Pick one.

It's not the fault of Obamacare I had to drop my insurance several years ago. It IS, however, the fault of Obamacare that premiums are increasing DRAMATICALLY over and above what was already too costly.

How am I risking everything? Gosh, let's see: If I pay the insurance premium, can I pay my mortgage? If I pay the insurance premium, can I buy groceries? If I pay the insurance premium, can I pay the utility bills? The answer is NO. I'll have to pick and choose. And which of those things can I get away with NOT paying for long, eh?

As for the Obamacare fines, I think you've just proved to everybody here how ignorant you are of some of the biggest and most obvious parts and pieces of the law! Every year, when I pay my taxes, I'll have to PROVE I have insurance coverage. If I can't, the "fine" is added to my tax bill (the fine schedule has been out for awhile now — I saw it this spring at my tax preparer's office). And we all know how successful failing to pay the I.R.S. can be, don't we?

SCOTUS decided to call the fine a "tax," not a fine. That's the only reason it was narrowly upheld. But there's another problem with that scenario, which also happens to be a Constitutional matter. Obamacare originated in the Senate, and only the HOUSE can initiate taxation.

I do know EXACTLY what "rational" and "reasonable" mean. But since you had no answer, I'm guessing you either don't, or you DO and are unable to provide an answer that fits that criteria!

The Big Dog's back

Delusional.

SamAdams

Delusional, eh? And what part of what I said was untrue or otherwise a figment of my imagination? And what part of the QUESTION I asked is apparently unanswerable by you Obamaphiles?

coasterfan

If ok w/you, I"ll leave it up to ME as to what I'm going to like. And everything I read so far mentions that in states where Obamacare is allowed to work, it's working exactly like it's designed to. People are already getting rebates from their insurance companies, and health insurance rates are dropping.

If a conservative tells me I'm not going to like it, that is "code" for: it really will help the middle class/poor.

goofus

Maybe what you read is just pure old liberal claptrap. Get your head out of Salon, Slate or Huffpo!!

shucks

Yeah ! Start listening to Fox News , Rush Limbaugh , Hannity ,etc.

arnmcrmn

Obamacare will crush this country. Heck even the big labor unions who support the Dems are against it.

I guess you guys missed that article about companies nationwide cutting hours to avoid the stiff penalties Obamacare brings with it.

You know you have been duped when Congress has exempted themselves from it.

coasterfan

Meh...I doubt it. Nationalized Health Care hasn't crushed Canada or any of the other First World countries that have it. Heck, even Costa Rica (where Limbaugh said he would go, if Obamacare passed) has nationalized health care. This is the same exact thing conservatives said when Social Security was enacted.

Obamacare does the right thing: it provides a health safety net for all Americans. The penalties are in place because companies can't be trusted to do the right thing by their workers.

If they are cutting hours, in spite of record profits, that just proves my point: they don't care about their workers, and only care about finding a way around the law to fatten the wallets of the 1%. Your ire should be aimed at the greedy, unethical few at the top.

You can join the hand-wringers, or you can accept the fact that it's a law that even a conservative Supreme Court supports.

arnmcrmn

Nationalized Healthcare in Canada doesn't penalize those not abiding by its conditions. Costa Rica? Horrible comparison because of the size and demographics.

Most large companies I know provide insurance to all their employees. So how are they doing wrong to their employees currently? Facts are they are not.

The penalties are in place to force companies to change the way they provide insurance which has already PROVEN to raise costs to the employer. Now, Im sure you have no problem with that but I know for a fact its crippling many companies.

FedEx....one of my employees husband works for them. They just received a letter the other day telling them that their premiums are going up in 2014, their deductible is going up in 2014 and that Obamacare and its regulations are costing FedEx tens of millions across the board.

Have a guy I know well. A higher up in a rubber company. The costs associated with Obamacare has forced them to do away with insurance for their 50 employees and just take the penalty hit year after year.

These are real life local companies, not some fairytale.

You can ignore the facts all you want. Personally, I don't care coaster because your opinion is not factual. You spew out the same exact stuff you hate on. Its called being hypocritical.

coasterfan

Not ignoring facts. Fact is, companies will never do right by their employees. Any new costs won't be absorbed by those who can and should absorb them: those at the top. They don't like being told they can only own 14 yachts instead of 15, and instead force their blue-collar staff to further tighten their belts.

The unspoken part of your argument is that without Obamacare, we all ended up paying higher insurance premiums and health care costs to cover the millions of people without health care. You didn't actually think that hospitals provide free service to 30 million people, did you? The reality is that the uninsured turn to ($$$) ER visits for everything, instead of a far less expensive visit to a family doctor, simply because they don't have any health insurance.

All reform is uncomfortable - both for those at the top as well as you and I - but that doesn't mean it's not the right thing to do. We are the only First World country that didn't offer nationalized health care, and something we need to do to continue to keep calling ourselves the best..

grumpy

Another portion of this well thoght out and dman near perfect bill that wasn't allowed to be amended, not given time to even be read before voted on bill.

http://www.forbes.com/sites/thea...

"First, there was the delay of Obamacare’s Medicare cuts until after the election. Then there was the delay of the law’s employer mandate. Then there was the announcement, buried in the Federal Register, that the administration would delay enforcement of a number of key eligibility requirements for the law’s health insurance subsidies, relying on the “honor system” instead. Now comes word that another costly provision of the health law—its caps on out-of-pocket insurance costs—will be delayed for one more year."

According to the Congressional Research Service, as of November 2011, the Obama administration had missed as many as one-third of the deadlines, specified by law, under the Affordable Care Act. Here are the details on the latest one.
---------------------------------------------------------------------------

Don't forget that the president has let congress opt out of what the peons have for medical insurance. The elite gets their platinum care, the people get the shaft.

1/3 of the deadlines haven't been met... so far. Wonder what the over/under betting line is on the rest? As they start to come faster will more be met... or more delayed in this well written, well thought out piece of legislation? This is how the so-called "adults" run things. This is what the democrats are running on in 2014 and 2016. Don't forget to look at the polling on what the People think of Obamacare.

coasterfan

As if congressmen read ANY bill before it's voted upon. As far as the expected growing pains of any massive reform like this, should we be surprised that there have been delays, especially when one party is doing everything they can to delay its enactment?

Yes, voters, please do remember which party has tried to help the middle class and poor, by enacting health care for all (Dems). And remember which party has tried (40 times) to take away health care from 30 million Americans, and have continually sowed the seeds of misinformation, doubt and unsubstantiated statistics regarding Obamacare, human conception, Immigration and gay marriage (Reps).

Darwin's choice

Speaking of mis-information....

http://www.dailymail.co.uk/news/...

Contango

Re: "please do remember which party has tried to help the middle class and poor,"

Smoke and mirrors Comrade.

That "help" amounts to vote buying and making promises that will eventually become unfundable.

arnmcrmn

Yeah remember grumpy....we had to pass it first to know what was in it.

Its all a joke. This administration has a legit problem with reading and doing what is right.

Why would they pass such a great thing and then exempt themselves from it?

I guess the democratic supporters are ok with just passing whatever and not reading it first.

Hey coaster, Obama was against gay marriage, but he flip flopped to gain votes. How convenient. Also, and once again your opinion is just that and wrong....Obama and the Dems have delayed the penalties associated with Obamacare until when? Oh yeah, thats right....after the elections...how convenient again.

Im curious to see how many of those 30 million that are claimed to not have insurance actually get insurance when this catastrophe kicks in? Im willing to bet the numbers who change much.

Hey but who cares right. Even the number improves by 10 million, the flip side is the REST of this nation will feel the crunch from Obie care. The good ole dem way, provide for the few on the rest of everyones back.

coasterfan

Unlike the last President, who actually did have a problem with reading and doing what was right.

Not sure how Obama would gain votes by supporting gay marriage, since he was already in office and won't be running for office in the future. I'm glad he is doing the right thing and denouncing all forms of discrimination. You're welcome to continue voting for the anti-women, anti-gay Neanderthals who run for GOP office, if you wish.

By the way, you have it completely backwards:
It's the Republican way to provide for the few (the 1%) on the back of the rest of us (the 99%). Apparently, you don't even know what your own party actually stands for. You're actually in favor of Democratic ideals and don't even realize it. Hilarious :)

deertracker

Bill said that if you want to live like a republican, vote for a Democrat. How true that is!

Contango

Re: "they don't care about their workers, and only care about finding a way around the law to fatten the wallets of the 1%."

Brainless blather.

Since it's obviously so damn easy:

When are you starting a business and paying your employees a "living wage," and top of the line health and welfare benefits.

Asked repeatedly and ALWAYS dodged by you:

Why does STRS invest with hedge funds, foreign cos. and private equity firms?

The facts: Your retirement plan helps support the one percent Comrade.

https://www.strsoh.org/pdfs/CAFR...

coasterfan

Not dodged. You just don't like my answers, so you say they aren't answers.

Every retirement plan is run by rich people. This is news? What would be your suggestion for an alternate option?

Instead of calling my comment about the greedy 1% mere "brainless blather", I'm wondering why you didn't provide any statistics/facts to prove me wrong. You don't because you know and I know there is absolutely NO evidence to prove that Trickle Down Economics works, and rather, lots of evidence proving that it doesn't work.

Actually, you don't even need to hunt up statistics. We all can see that the gap between the haves and have-nots continues to grow. Democrats try to fix that, so EVERYONE can succeed. Republicans deny that it's happening (pay no attention to that billionaire with his 15 homes and 22 yachts), and instead accuse Dems of "class warfare".

Not saying Obamacare is easy. I'm just saying it's the right thing to do, and maybe companies can make a little less profit in order to take care of their employees. After all, didn't a GOP senator say "Companies are people"? How about putting their money where their mouth is, for a change?

Contango

Re: "Every retirement plan is run by rich people."

THAT'S your pathetic answer?

You suggest that some should refuse SS and Medicare. Likewise, why don't you refuse STRS benefit payments or donate them to charity?

coasterfan

You misquoted me. AGAIN. What I said was that if you (personally, just you) think Socialism is so bad, then you, out of ideological purity, should stand behind your own words and not accept any SS or Medicare.

Besides, you don't want your friends to think you're one of Mitt's 47%, do you?

Contango

Re: "should stand behind your own words and not accept any SS or Medicare."

And likewise I've asked you:

You don't believe that assets which are taken from you should be returned?

Who gives a sh*t about Romney? I'm not envious of others wealth like you Comrade.

AGAIN: Since you hate rich people and corps, why not refuse your STRS benefits payments?

Contango

Re: "maybe companies can make a little less profit in order to take care of their employees."

Maybe? Put a number to that nonsense.

Maybe STRS should ask for less ROR on their investments with the one percenters instead of attempting to maximize it?

deertracker

Futility coasterfan, futility! Try explaining it to him if you ever catch him sober!

shucks

Spoken like a true Fox watcher.

Contango

"Comparing Obama's Policies with French Socialist Hollande":

http://www.forbes.com/sites/merr...

Can you say socialist?

coasterfan

Time to wake up and smell the coffee. A majority of voters under age 30 don't see Socialism as a bad thing. That's because things like Social Security and Medicare are also so-called "Socialism", yet have proved an invaluable safety net for decades.

Gotta love how conservatives try to paint Socialism as a dirty word, using it interchangeably with "Communism" and "Nazism". Betcha $10 that most of them couldn't tell what the difference is between the three...
In Contango's warped world, mainstream Republicans are RINOs and mainstream Democrats like me are Communists.

Unless Contango and his kind want to continually become more irrelevant, you've got to get out of the 1950's and stop alienating huge swaths of the electorate. You don't like us, and we don't much like you, but there are MORE of us. I'll bet that's some math you can understand...

Contango

Re: "A majority of voters under age 30 don't see Socialism as a bad thing."

You capitalize socialism? Impressive!

Got a link or is that more nonsense?

Not suprising that the youth would fall for socialist "heaven on earth" economic stupidity.

Comrade, you help prove that personal finance and economic illiteracy is rampant in the U.S. and you're merely spreading the disease.

Socialism: Ask a child if he/she wants free ice cream.

Capitalism: Ask a child to perform a chore and he/she will be rewarded with ice cream.

Which one will they usually choose?

Q.E.D.

coasterfan

Beats the heck out of swallowing thoroughly debunked GOP economic policies. Unfortunately, I don't have a link for the article I mentioned, but it was part of a long laundry list of things espoused by the GOP that a majority of young voters disagree with, as polled in a non-partisan survey.

Let's suffice to say that we all know that a huge majority of young voters went for Obama in 2012, and turned their nose up at both Mitt and everything Mitt stood for. If you need more substantiation than that, I'll try to hunt up the article. You, of course, would deny everything in it, so it kinda sounds like a waste of both our time...

If it weren't for gerrymandering, the GOP would be an endangered species on a statewide level. Their state candidates actually won fewer total votes across the nation in 2012, but they are able to pack the House, even though numbers-wise, they are in the minority.

Of course, you can't gerrymander an entire country, which is why they have lost the popular vote in 5 of the last 6 presidential elections.

Contango

Re: "Beats..."

Yet more turgid political nonsense without one single solitary shred of factual information.

Don't give a sh*t about Mitt - didn't vote for him.

Not to worry Comrade, go with the "popular" flow all the while I attempt to protect me and my own from the greed and eventual economic failure of you (bleeping) collectivists.

coasterfan

You forgot to mention the one we have in America:

Runaway Capitalism: Ask a child to perform a chore so that his master can be rewarded with ice cream.

Contango

Re: "his master can be rewarded with ice cream."

You mean like the STRS which makes a ROI and then pays you benefits?

More dodging?

Why not refuse your STRS benefit payments?

Come on, you KNOW the answer Comrade MENSA. :)

2cents's picture
2cents

C, why argue with coaster? I thought I read where he/it was an admitted communist. If this is correct then everything he/it writes will be based on these principles and not worth any argument. It may be best to just ignore he/it!

deertracker

There you go thinking again. You might want to hang on to that two cents!

Contango

Re: "C, why argue with coaster?"

Why not? He's the only half-ways intelligent lefty in the bunch on these comment pages.

At college, I used to have debates over coffee with the head of the local chapter of the Communist Party.

coasterfan refers to himself as a Progressive, i.e. Fabian socialist.

http://en.wikipedia.org/wiki/Fab...

As I've often written:

Marx and Engles synonymously used the terms socialism and communism.

http://www.deleonism.org/text/91...

Under close inspection and argumentation, socialism will ALWAYS collapse as an economic theory because it's an unworkable system without the use of brute force.

Over the past several decades, hundreds of millions have died at the hands of tyrants attempting to make society "fair and equitable."

See: "The Black Book of Communism."

http://en.wikipedia.org/wiki/The...

The Big Dog's back

Coasterfan 5 contangled 0.

Contango

Re: "Coasterfan..."

Have you marched into your employer's office and demanded to have your wage doubled 'cause you think you deserve it?

coasterfan

Nope. As a teacher, I knew I worked for a non-profit, and our salary schedule was part of the union contract, and thus non-negotiable on a year to year basis by an individual teacher. Now, I work on a combination of salary and commission, and am therefore responsible for the amount I earn.

I feel people's salaries should be something they earn, and the amount they receive should be commensurate with their level of education and/or the amount of expertise needed to do the job. Thus, teachers and doctors should be paid more than someone with a 2-year associate's degree, HS diploma or GED.

Contango

Re: "Nope (snip)"

I'm surprised Comrade. As an admitted socialist, you're forgetting your BASIC Marx:

"From each according to his ability, to each according to his need."

Equality of compensation will be the norm in a true socialist society.

shucks

@ Clowntango

" At college, I used to have debates over coffee with the head of the local chapter of the Communist Party."

......................So you being the consummate propagandist that you are - they let you join the chapter ?

( Actually, you being a consummate liar- I don't believe your statement.)

coasterfan

Why should I refuse my retirement benefits? I don't gripe about how the system is set up, as you do.

Contango

Re: "Why (snip)"

A non sequitur.

Keep dodging.

AGAIN: Since you hate rich people and corps, why not refuse your STRS benefits payments?

" About 75% of members’ benefits are provided by investment returns,"

So you like "how the system is set up," while livin' with the help of the one percenters and plutocrats eh Comrade?

https://www.strsoh.org/whatsnew/...

Darwin's choice

Another from the puppet in charge...
https://youtube.googleapis.com/v...

Bottom Line

deertracker would support obama if obama openly supported incest. Because deertracker is racist and only cares that obama is black.

deertracker

Silly comment!

shucks

Bottom Line feeds on the bottom.

EZOB

Name me just one "POOR" democrat. Left-Wingers say they are against the rich but support all the rich Democratic Politicians. The main difference is most Republican Politicians actually worked or owned a company while most Democrats inherited their wealth. Are they both dishonest? You Betcha! At least most republicans know what it takes to run a business while Dems know how to run them in the HOLE!

coasterfan

EZOB: Congrats, you get the Silliest Comment of the Day Award.

#1: Name me one poor Democrat? Actually about 40 million of them voted for Obama in 2012.

#2: All politicians are rich. We Dems do like ones who grew up middle class, like Obama.

#3: Bush and Romney are obvious plutocrats who were born with a silver spoon in their mouth. They "earned" their money the old-fashioned Republican way: they inherited it by choosing extremely wealthy parents.

#4 My employer is a Democrat, and started the company in his garage 50 years ago. It's now a worldwide multi-billion dollar venture and one of the Top 30 most successful companies in the nation. There are successful businessmen from both parties.

dontknowmuch

You forget Obama was raised as a kid with privilege, contrary to what he says

The Big Dog's back

And your basis for this is?

Contango

Re: "My employer is a Democrat,"

And your employer ain't a one percenter? LMAO!!!

Suggest that your employer turn his co. into an ESOP and make it REALLY fair instead of profiting off the sweat of his employees.

http://en.wikipedia.org/wiki/Emp...

In a true socialist society, the State will control all the means of production.

You're supporting fascism Comrade. You are therefore an anti-revolutionary and an enemy of the State.

whocares

What will the budget be like when OBAMA Care kicks in? There is a reason he delayed it after the 2014 election.

dontknowmuch

What budget is this based on? A budget hasn't been passed since O reached the big house

EZOB

I should have clarified "Democratic Politicians". Coasterfan should be more than willing to give more of his earning to the Democrats with less education, especially the ones who under his tutor who failed to graduate.

EZOB

Contango,
I can see right through these people. Bherrle failed to meet me. I thought RMeyer would fill in, no way. They are a bunch of losers without a plan. If we left everything up to them they'd be "A Man Without a Country". I know you get it. I
I'll be in Parma meeting with Jim Renacci on Veterans Affairs. Sherrod Brown needs removed from the Veterans Committee. All the Levy yes voters did was chirp and it really is a shame because they could do something if they tried.

RMyer

I didn't realize that I was invited. I was not asked to "fill in" by anyone or else I would have attended. I am more than happy to meet and discuss plans. I am easy to find. I also attend most board meetings if you would prefer to speak with me there.

EZOB

dontknowmuch,
I hope you don't mind that I elaborate on your budget comment? My definition of (BUDGET) while I was in school was something like this: Planning your expenses so they aren't greater than your income. All Politicians see this as a big problem so they always try to totally ignore just about anything that concerns the word, "BUDGET". I think they want it stricken form the English Language and in Washington it has become more offensive to some than the F-word.

The Big Dog's back

When Repubs are in charge budget is spelled budget. When Dems are in charge it is spelled BUDGET!

shucks

yep

Contango

Re: " lowest annual budget gap in five years."

Watch the Dems use this lower deficit in order to argue for a hike in the already $17 trillion debt ceiling limit.

The federal debt ceiling battle is coming:

http://www.bloomberg.com/news/20...

The Big Dog's back

The debt nincompoop, is for things we already spent on. Do you welsh on your debts?

Contango

Re: "The debt..."

The DEBT CEILING LIMIT putz, The DEBT CEILING LIMIT.

Gawd are you stupid.

http://www.thefiscaltimes.com/Ar...

donutshopguy

Why do you all argue over a Republican or Democrat ? They are all politicians. Their first priority is to get reelected. Neither look out for what is best for the country. They look out what is best for themselves.

Why do we pass a federal government health insurance program and exempt federal employees?

Answer: The group in charge, both Republican and Democrats, do not live by the same rules as you and I.

EZOB

DSG,
I take a Conservative view (Mostly Republican) while discussing on these blogs or locally. On the National scene, I've posted again and again that they are all the same once they reach Columbus or Washington.

2cents's picture
2cents

Lets get on with some new news, Islam is taking its turn in Egypt. Lets oust another dictator like we did there and Libya, now Syria so the crazy Islamists can go crazy there too and make the world follow their madness!

http://www.foxnews.com/world/201...

Contango

"Obama's Approval Ratings On The Economy Have Gotten Really Brutal":

Read more: http://www.businessinsider.com/o...

arnmcrmn

I wish the few liberal posters would actually post links to these so called facts. Once. Just once.

OSUBuckeye59

Politicians love to blabber ad nauseam when the Budget deficit is reduced in hopes people will forget our National debt continues to rise regardless. It's like a person excitedly telling everyone they didn't charge as much this month on the credit card as they did last month, all the while only paying the minimum required monthly payment.