Skip to main content

View Diary: Tea Party is completely wrong about shrinking federal deficits (42 comments)

Comment Preferences

  •  Sloppy verbiage creates confusion (0+ / 0-)

    Sadly, both parties are right here.  The graph our colleague posts is not Total Federal Deficit but rather Annual Budget Deficits.  Our Total Budget Deficit is in the range of $17 trillion and has been increasing at an annual rate of $1.1 to $1.4 trillion over the past several years.  With recent improvements to the economy the rate our Total Federal Budget is expected to increase will fall to an estimated $600 billion this year and $400 billion in 2015.

    The Total Federal Budget Deficit is still increasing.  It is just increasing at a slower rate.  The Annual Budget Deficit is falling, but still adds to our Total Budget Deficit through the foreseeable future.  When Tea Party nutjobs say the "deficit" continues to increase, they are correct in that the TOTAL Federal Budget Deficit is, as a matter of fact, increasing.  

    Sloppy verbiage creates confusion and makes already difficult communications even more challenging.  

    •  Usually we distinguish between budget deficits (0+ / 0-)

      and debt. Debt is how much we owe to our creditors. That's the $17 trillion dollar figure. The budget deficit is the shortfall between our expenses and revenues annually. What you said is correct, as the shortfall then becomes debt. However, there is a need to break it out annually.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site