Budget deficit cut in half!

BrunoMars420

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Feb 14, 2016
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Budget deficit cut in half for biggest drop ever amid Covid spending declines
https://www.cnbc.com/2022/10/21/us-...are|com.apple.UIKit.activity.CopyToPasteboard


“The U.S. budget deficit was sliced in half for fiscal 2022, the biggest drop in history following two years of huge Covid-related spending.

Though still large in historical terms, the budget shortfall declined to $1.375 trillion, compared to the 2021 deficit of $2.776 trillion.”

Obviously this was due to COVID spending the previous year but good job Biden! For reference, the budget deficit was $984.4 billion in 2019 before all of this. Hopefully we keep chopping that down
 

binsfeldcyhawk2

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Obviously this was due to COVID spending the previous year but good job Biden! For reference, the budget deficit was $984.4 billion in 2019 before all of this. Hopefully we keep chopping that down
Not to be a party pooper but pre pandemic spending should be the barometer for 2022....not pandemic spending.

Deficit $400B more than pre-pandemic levels...nothing to cheer about IMO.
 

thewop

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Jun 27, 2002
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Good to see covid emergency spending be taken out, but a 1T+ deficit isn't really cause for celebration.

Now...can we balance it? You know, this would be a massive win for Joe and virtually assure his reelection (or a dem win) if he could sign a balanced budget in the next 2 years. He'd gain enough moderates to ensure victory if he could do it, especially with a republican-controlled house or senate, ensuring gridlock.

He would have a case to be made for a president who unified America if he could accomplish the above.
 

tumorboy

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Not to be a party pooper but pre pandemic spending should be the barometer for 2022....not pandemic spending.

Deficit $400B more than pre-pandemic levels...nothing to cheer about IMO.
Pre pandemic spending was nothing to cheer about either. Especially considering how good the economy was performing. Obama couldn't stop spending. And Trump has to cut taxes and keep spending too.
 

SoProudNole

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Make me man

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binsfeldcyhawk2

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Pre pandemic spending was nothing to cheer about either. Especially considering how good the economy was performing. Obama couldn't stop spending. And Trump has to cut taxes and keep spending too.
Agreed...

Just don't like the "budget cutting" talk when we're doing markedly worse than pre pandemic levels.

It's basically putting lipstick on a pig.
 
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binsfeldcyhawk2

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Pre pandemic spending was nothing to cheer about either. Especially considering how good the economy was performing. Obama couldn't stop spending. And Trump has to cut taxes and keep spending too.
I'd just add that the Trump years deficits pre-pandemic and the Obama deficits post housing crisis are pretty terrifying....booming economy but massive deficits. Hate to see what it looks like in 2023 with a looming recession.
 

BrunoMars420

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Not to be a party pooper but pre pandemic spending should be the barometer for 2022....not pandemic spending.

Deficit $400B more than pre-pandemic levels...nothing to cheer about IMO.
What it shows is hopefully a new trend of getting spending under control. I would be more interested in if this will be the current trajectory the next couple of years
 

binsfeldcyhawk2

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What it shows is hopefully a new trend of getting spending under control. I would be more interested in if this will be the current trajectory the next couple of years
I'm thinking with a looming recession next year will be ugly. We've been running massive deficits with a "strong economy" (minus pandemic) the last decade.
 

TonyTheTiger.1865

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Good job? Any idea why inflation may be out of control? Returning to the mean is no cause for celebration.
It's out of control because they printed 5.5 Trillion dollars with no plan, idea or intention of paying for it. And getting back to our already bloated irresponsible budget isn't anything to pat themselves on the back for.
 
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BrunoMars420

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How does it show that? It actually shows the opposite. We are spending 400 billion more than we were before.
The federal government is currently coming off a massive bender of spending. Over the course of the 2-3 years we are just on pace of where we might have been which is something to look at as a positive especially with the Dems in power #amirite

I mean I get where you are coming from but this is a positive from a federal government standpoint imo. Like I said in a previous post, let’s see where this trajectory takes us the next couple of years
 

ihhawk

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The federal government is currently coming off a massive bender of spending. Over the course of the 2-3 years we are just on pace of where we might have been which is something to look at as a positive especially with the Dems in power #amirite

I mean I get where you are coming from but this is a positive from a federal government standpoint imo. Like I said in a previous post, let’s see where this trajectory takes us the next couple of years
The Covid spending is done…and we are still 400 billion above 3 years ago.

That’s a huge concern
 

Hawkeyenuts66

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What it shows is hopefully a new trend of getting spending under control. I would be more interested in if this will be the current trajectory the next couple of years
All it really shows is pandemic spending is ending and increased tax revenue because people are getting off their asses and going back to work.
 

Joes Place

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Aug 28, 2003
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No. They all play a role. Russia issue is very limited on prices here. It may have actually helped cool down inflation

Uh, no.

Fuel price spikes do not "cool inflation" in any world except your misled brain.
 

EasyHawk

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Some pretty harsh stuff here. 61% of Iowan's polled say they disapprove of how Biden has handled his job as president. 73% say the nation has gotten off track under his presidency. Only 20% say the country is headed in the right direction.

 
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