Federal Budget Deficit - Revision history

RobSmith at 19:56, September 1, 2026

2026-09-01T19:56:35Z

Aschlafly: due to the Wuhan virus is the largest percentage of the GDP since wartime 1945

2020-09-05T00:18:41Z

due to the Wuhan virus is the largest percentage of the GDP since wartime 1945

DavidB4-bot: /* top */HTTP --> HTTPS [#1], replaced: http://www.usatoday.com → https://www.usatoday.com

2018-09-26T16:01:40Z

top: HTTP --> HTTPS [#1], replaced: http://www.usatoday.com → https://www.usatoday.com

MarkGall: /* Liberal spending and incredible increase in deficit */

2012-07-04T01:26:07Z

Liberal spending and incredible increase in deficit

NickP at 00:33, December 12, 2011

2011-12-12T00:33:44Z

AlycaZ: Undo revision 908771 by AznBurger (talk)

2011-09-02T02:36:08Z

Undo revision 908771 by AznBurger (talk)

AznBurger: bad link repair

2011-09-02T02:22:41Z

bad link repair

RobSmith: see also

2010-10-16T18:52:36Z

RobSmith at 19:42, October 15, 2010

2010-10-15T19:42:10Z

Karajou: Reverted edits by FackingCPAgain (Talk) to last revision by Aschlafly

2010-08-28T00:38:30Z

Reverted edits by FackingCPAgain (Talk) to last revision by Aschlafly

@@ Line 8: / Line 8: @@
 :Modern accounting requires that corporations, state governments and local governments count expenses immediately when a transaction occurs, even if the payment will be made later.   The federal government does not follow the rule, so promises for Social Security and Medicare don't show up when the government reports its financial condition.   Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined.  Unfunded promises made for Medicare, Social Security and federal retirement programs account for 85% of taxpayer liabilities. State and local government retirement plans account for much of the rest.
-==Liberal spending and incredible increase in deficit==
+==Uniparty spending and incredible increase in deficit==
-In 2008, the deficit was $248 billion. However, during former President George W. Bush's final year in office, when he adopted a significantly more liberal policy than in his previous year, the deficit skyrocketed to $1.4 trillion. Current President Barack Obama has done little to fix this, having deficits remaining in the trillions <ref>http://www.usgovernmentspending.com/federal_deficit_chart.html</ref>
+In 2008, the deficit was $248 billion. However, during former [[President George W. Bush]]'s final year in office, when he adopted a significantly more liberal policy than in his previous year, the deficit skyrocketed to $1.4 trillion. Current [[President Barack Obama]] has done little to fix this, having deficits remaining in the trillions <ref>http://www.usgovernmentspending.com/federal_deficit_chart.html</ref>
 == See also ==

← Older revision		Revision as of 00:18, September 5, 2020
Line 1:		Line 1:
	'''Federal Budget Deficit''' is the difference in any year between the [[government]] revenue and the government spending. The national [[debt]] is the cumulative unpaid total of the annual [[deficit]]. The government essentially always runs a deficit, in large part due to [[Medicare]] expanding far beyond [[CBO]] expectations.		'''Federal Budget Deficit''' is the difference in any year between the [[government]] revenue and the government spending. The national [[debt]] is the cumulative unpaid total of the annual [[deficit]]. The government essentially always runs a deficit, in large part due to [[Medicare]] expanding far beyond [[CBO]] expectations.
		+
		+	The Federal Budget Deficit for 2020 is predicted by the [[CBO]] to be $3.3 trillion, roughly 16% of [[GDP]], which due to the [[Wuhan virus]] is the largest percentage of the GDP since wartime 1945.

	As reported by ''[[USA Today]]'':<ref>		As reported by ''[[USA Today]]'':<ref>

@@ Line 2: / Line 2: @@
 As reported by ''[[USA Today]]'':<ref>
-http://www.usatoday.com/news/washington/2007-05-28-federal-budget_N.htm</ref>
+https://www.usatoday.com/news/washington/2007-05-28-federal-budget_N.htm</ref>
 :Modern accounting requires that corporations, state governments and local governments count expenses immediately when a transaction occurs, even if the payment will be made later.   The federal government does not follow the rule, so promises for Social Security and Medicare don't show up when the government reports its financial condition.   Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined.  Unfunded promises made for Medicare, Social Security and federal retirement programs account for 85% of taxpayer liabilities. State and local government retirement plans account for much of the rest.

@@ Line 7: / Line 7: @@
 ==Liberal spending and incredible increase in deficit==
-In 2008, the deficit was $248 billion. However, during former President George W. Bush's final year in office, when he adopted a significantly more liberal policy than in his previous year, the deficit skyrocketed to $1.4 trillion. Current President Barrack Obama has done little to fix this, having deficits remaining in the trillions <ref>http://www.usgovernmentspending.com/federal_deficit_chart.html</ref>
+In 2008, the deficit was $248 billion. However, during former President George W. Bush's final year in office, when he adopted a significantly more liberal policy than in his previous year, the deficit skyrocketed to $1.4 trillion. Current President Barack Obama has done little to fix this, having deficits remaining in the trillions <ref>http://www.usgovernmentspending.com/federal_deficit_chart.html</ref>
 == See also ==
 *[[National debt]]

@@ Line 6: / Line 6: @@
 :Modern accounting requires that corporations, state governments and local governments count expenses immediately when a transaction occurs, even if the payment will be made later.   The federal government does not follow the rule, so promises for Social Security and Medicare don't show up when the government reports its financial condition.   Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined.  Unfunded promises made for Medicare, Social Security and federal retirement programs account for 85% of taxpayer liabilities. State and local government retirement plans account for much of the rest.
 == See also ==
 *[[National debt]]

@@ Line 1: / Line 1: @@
 '''Federal Budget Deficit''' is the difference in any year between the [[government]] revenue and the government spending. The national [[debt]] is the cumulative unpaid total of the annual [[deficit]]. The government essentially always runs a deficit, in large part due to [[Medicare]] expanding far beyond [[CBO]] expectations.
@@ Line 10: / Line 4: @@
 http://www.usatoday.com/news/washington/2007-05-28-federal-budget_N.htm</ref>
 :Modern accounting requires that corporations, state governments and local governments count expenses immediately when a transaction occurs, even if the payment will be made later.   The federal government does not follow the rule, so promises for Social Security and Medicare don't show up when the government reports its financial condition.   Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined.  Unfunded promises made for Medicare, Social Security and federal retirement programs account for 85% of taxpayer liabilities. State and local government retirement plans account for much of the rest.
 == See also ==
@@ Line 24: / Line 18: @@
 [[Category:United States Government]]

← Older revision		Revision as of 19:42, October 15, 2010
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		+	[[File:Obama deficits 2009-2010.JPG\|275px\|right\|thumb\|Under President Obama, the federal deficit is approaching 100% of [[Gross Domestic Product]] (GDP). The Greek Debt Crisis of 2010 was preciptated when the Greek deficit reached 115% of GDP.]]
	'''Federal Budget Deficit''' is the difference in any year between the [[government]] revenue and the government spending. The national [[debt]] is the cumulative unpaid total of the annual [[deficit]]. The government essentially always runs a deficit, in large part due to [[Medicare]] expanding far beyond [[CBO]] expectations.		'''Federal Budget Deficit''' is the difference in any year between the [[government]] revenue and the government spending. The national [[debt]] is the cumulative unpaid total of the annual [[deficit]]. The government essentially always runs a deficit, in large part due to [[Medicare]] expanding far beyond [[CBO]] expectations.

← Older revision		Revision as of 00:38, August 28, 2010
Line 1:		Line 1:
−	[[~~Admins~~ are ~~atheists~~.]]	+	'''Federal Budget Deficit''' is the difference in any year between the [[government]] revenue and the government spending. The national [[debt]] is the cumulative unpaid total of the annual [[deficit]]. The government essentially always runs a deficit, in large part due to [[Medicare]] expanding far beyond [[CBO]] expectations.
		+
		+	As reported by ''[[USA Today]]'':<ref>
		+	http://www.usatoday.com/news/washington/2007-05-28-federal-budget_N.htm</ref>
		+
		+	:Modern accounting requires that corporations, state governments and local governments count expenses immediately when a transaction occurs, even if the payment will be made later. The federal government does not follow the rule, so promises for Social Security and Medicare don't show up when the government reports its financial condition. Bottom line: Taxpayers are now on the hook for a record $59.1 trillion in liabilities, a 2.3% increase from 2006. That amount is equal to $516,348 for every U.S. household. By comparison, U.S. households owe an average of $112,043 for mortgages, car loans, credit cards and all other debt combined. Unfunded promises made for Medicare, Social Security and federal retirement programs account for 85% of taxpayer liabilities. State and local government retirement plans account for much of the rest.
		+
		+	== See also ==
		+
		+	*[[Federal]]
		+	*[[Federal Communications Commission]]
		+	*[[Civil liberties]]
		+
		+	== References ==
		+
		+	<references/>
		+
		+
		+	[[Category:United States Government]]