Saturday, January 27, 2007

James --- you are right --- but WRONG

James, NY has left a new comment on your post "1/25/2007 07:42:00 AM": Surely you can't be serious Ben. 2006's federal budget deficit was actually more than $400 BILLION, with a B, dollars. That brought our total national debt to $8.6 TRILLION, with a T. The interest payments on that amount are $406 BILLION dollars for fiscal year 2006. We don't need to be adding any more debt to this $8.6 trillion total, Ben. That's the bottom line.

Ben's response:

Yes, James, that was the deficit in FY 2006. But we are already well into FY 2007 and the a healthy economy is yielding more tax revenues.

IAE >In Any Event < $.4 - $.5 B< is just about chump change in a $14 Trillion (ca.) economy.

1 Comments:

Blogger Roy Lofquist said...

Dear Ben,

I have been told all of my life that deficit spending would be the death of us. I'm 64 and things have just gotten better and better. "The Good News is the Bad News is all Wrong". At least we no longer have the perennial debate about the cost of a first class stamp. (I know that that will befuddle many of your younger readers.)

I have developed a fine sense of smell about politicians. If you have heard more than half of their statements many times before from others then they are lifeless political machines.

I despair at the current crop of candidates. There are only two, Rudy and Mitt, who seem original in any sense. But then we haven't realy heard from them that much.

These are perilous times. We were lucky to get GWB. I hope we are lucky the next time.

Regards,
Roy

January 31, 2007  

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