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Started By
Message
Cumulative federal spending: $1 Trillion lower than 2011 projections by CBO
Posted on 12/29/14 at 11:10 am
Posted on 12/29/14 at 11:10 am
quote:
What accounts for the decline? It's about 25 percent mandatory savings due to health care costs growing slower than expected, about 30 percent interest payments on the federal debt being slower than expected, and about 45 percent lower discretionary spending due to sequestration and related machinations.
LINK
This post was edited on 12/29/14 at 11:20 am
7
Posted on 12/29/14 at 11:13 am to Big Scrub TX
You should clarify that you mean cumulatively over the past three years. Otherwise folks will just look at your graph and throw the bullshite flag.
Posted on 12/29/14 at 11:18 am to Navytiger74
So we don't make payments (or make them late) on our debt and this is somehow a good thing??
Posted on 12/29/14 at 11:19 am to fleaux
quote:
So we don't make payments (or make them late) on our debt and this is somehow a good thing??
Posted on 12/29/14 at 11:20 am to Big Scrub TX
OK lets make sure I understand how this works. I project to spend almost triple what I make three years from now. When the time arrives I only overspend by double. I can now claim economic victory and expect congratulations from my creditors?
Wow this is really simple, can't wait to tell the wife.
Posted on 12/29/14 at 11:21 am to Big Scrub TX
I think I misunderstood what it said about interest payments
Posted on 12/29/14 at 11:24 am to cave canem
quote:
OK lets make sure I understand how this works. I project to spend almost triple what I make three years from now. When the time arrives I only overspend by double. I can now claim economic victory and expect congratulations from my creditors?
Now let's make a real attempt to understand how it works:
a)CBO puts out budget projections
b)right-wing screams and shouts about how the predictions are too low
c)actual spending comes in $1 Trillion lower than the projections
d)right-wing moves the goalposts
e)right-wing continues hysteria about "hyper-inflation" that has never and probably will never come
Posted on 12/29/14 at 11:32 am to Big Scrub TX
So the CBO was wrong?? Is that what we should take from this?
Posted on 12/29/14 at 11:33 am to fleaux
Can we apply the CBO being wrong here to other predictions?
Posted on 12/29/14 at 11:34 am to cave canem
quote:
OK lets make sure I understand how this works. I project to spend almost triple what I make three years from now. When the time arrives I only overspend by double. I can now claim economic victory and expect congratulations from my creditors?
Wow this is really simple, can't wait to tell the wife.
This.
Posted on 12/29/14 at 11:34 am to Big Scrub TX
So sequestration worked somewhat. Imagine if we actually cut spending by 10-20% in most departments. It would drop even more. Imagine that, cut spending and actual spending goes down. Who would have thought.
Posted on 12/29/14 at 11:35 am to fleaux
quote:
So the CBO was wrong?? Is that what we should take from this?
CBO projections are to help steer decision making. If they are correct its only becuase congress hasnt done anything.
This post was edited on 12/29/14 at 11:36 am
Posted on 12/29/14 at 11:35 am to Big Scrub TX
Is that the same CBO that scored Obamacare at under a trillion?
Posted on 12/29/14 at 11:37 am to stormyhog
So if I take all the rhetoric out of it from both sides, I come to the conclusion that the nonpartisan checks and balances dept of Congress can't add and subtract and are off on their "projection" by a measley TRILLION bucks?
Awesome.
Awesome.
Posted on 12/29/14 at 11:38 am to Big Scrub TX
Hopefully we return to Clinton level as a of %gdp soon with a republican congress
Posted on 12/29/14 at 11:38 am to Big Scrub TX
You do realize who controlled the C in CBO or congressional budget office in 2011 do you not?
I would be surprised if "conservatives" did not call for a conservative budget, is this a surprise to you?
You really do not understand the difference between actual and projected if you claim to know 2014's ACTUAL spending. This true number will not surface for years.
Link? Quote? Que?
This is non news bullshite drug up for your usual partisan bitchfest. You are actually much worse a hack than those you rail against constantly.
quote:
b)right-wing screams and shouts about how the predictions are too low
I would be surprised if "conservatives" did not call for a conservative budget, is this a surprise to you?
quote:
c)actual spending comes in $1 Trillion lower than the projections
You really do not understand the difference between actual and projected if you claim to know 2014's ACTUAL spending. This true number will not surface for years.
quote:
d)right-wing moves the goalposts
e)right-wing continues hysteria about "hyper-inflation" that has never and probably will never come
Link? Quote? Que?
This is non news bullshite drug up for your usual partisan bitchfest. You are actually much worse a hack than those you rail against constantly.
Posted on 12/29/14 at 11:39 am to constant cough
quote:
Is that the same CBO that scored Obamacare at under a trillion?
Bureaucrats say that other bureaucrats will spend a shitload of money. Bureaucrats spend a little less than what bureaucrats said the bureaucrats would spend. Bureaucrats and sheep rejoice, ignoring the fact that the bureaucrats spent too much whether the bureaucrats projected more spending or not.
Posted on 12/29/14 at 11:44 am to bamarep
quote:
So if I take all the rhetoric out of it from both sides, I come to the conclusion that the nonpartisan checks and balances dept of Congress can't add and subtract and are off on their "projection" by a measley TRILLION bucks?
Yes, predictions are very hard. Both sides should stop acting like they know the future.
Posted on 12/29/14 at 11:45 am to Big Scrub TX
quote:
b)right-wing screams and shouts about how the predictions are too low
c)actual spending comes in $1 Trillion lower than the projections
d)right-wing moves the goalposts
"Moving goalposts"?
L
O
L
The largest piece of this reduction is due to the sequester! Who screamed and shouted about that?
And about that healthcare spending slowdown- that shite's over.
quote:
The Quarterly Services Survey showed 5.4% growth in spending on health care services in the third quarter of 2014 (July – September) compared with the same quarter in 2013.
This post was edited on 12/29/14 at 11:46 am
Posted on 12/29/14 at 11:47 am to Big Scrub TX
I love it when a republican house manages the money like an adult.
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