Unemployment rate falls to 8.5% pointing to continued improvement in labor market

What is actually says is:

That $13 trillion figure is based on CBO's "alternative fiscal scenario," which CBO says "incorporates several changes to current law that are widely expected to occur... ."

For example, under current law, marginal tax rates on middle-class families will rise in in the next few years, and Medicare payments to doctors will fall sharply. The alternative fiscal scenario assumes that Congress will intervene — as it has in the past — to prevent those things from happening.

Basically, its talking about the alternative to current law, in which the Bush tax cuts expires at the end of this year.

Though I'm not sure why they would characterize them as "tax rates on middle class families".

 

Graph in this pdf: http://www.cbo.gov/ftpdocs/122xx/doc12212/2011_06_22_summary.pdf

100% debt-to-gdp

http://www.zerohedge.com/news/us-closes-2011-record-1522-trillion-debt-officially-1003-debtgdp

 

Yes, and they said most economists believe that the alternative fiscal scenario is the more likely result here:

http://www.cbo.gov/ftpdocs/122xx/doc12212/2011_06_22_summary.pdf

 

Greater revenues coming from where, raising taxes? Clinton had the benefit of lowering taxes on small business, you know those rich people you lefties harp about, plus the most incredible tech boom the world has ever witnessed. He also drastically slowed spending by controlling generational welfare, forced on him by conservatives, closing military bases and consolidating government. None of which Obama has done.

 

No, it was actually Bill Clinton signing the repeal of the Glass-Steagall Act in November of 1999

 

Americans will no longer tolerate any member of Congress
Senators or
Representatives
Benefiting monetary gains from insider information, personal appearances, book signing while being employed by any Government or Federal Agency.

SIGN this petition and share it with our friends.

http://www.change.org/petitions/pass-hr-1148-bill-youre-sworn-into-serving-america-not-your-pocket

Any member of Congress including the Supreme Court should be bound by the same laws as its citizens. After the market collapse and the shady dealings of Wall Street it is imperative to have complete transparency and accountablity.

There is uncertainty about how insider trading rules impacts members of Congress and their staff. Unless lawmakers have some express confidentiality agreement they can exploit the information they obtain on Capitol Hill.

 

That's total partisan BS and you know it. We're all for small/big business, and the fair minded corporations, but those that take extreme advantage are to be vilified and eliminated.
Not even all the 1%ers are part of our problems, just a fraction, but it doesn't take much to spoil it for everyone when wielding that much $$$, power, and influence towards corrupting America.

 

The only group I see taking advantage of people is our federal government.

 

Spoken like a true socialist. Please list the ones you think are not worthy of your approval? Do you think Pelosi flaunting her $10K a night hotel room is a slap in the face of most Americans? Does she fit your mold of making to much money? Especially since they caught her pushing a bill that favored her inside trading. You and I would go to jail for that.

How about General Electric, they paid 0 in corporate taxes. You know that big corp ran by Obama's buddy Jeffery Immelt, the Obama job czar

 

To a point. Obama has put America in a place where it can't keep up with the payments.

 

Yes he is. We put him on seizure medicine and has had only one seizure in 4 months. The point is liberals think only they should get entitlements because they support them. Entitlements are for all Americans that qualify. Just because my family qualifies and receives them does not mean I have to agree with the policy.

If it is taken away tomorrow God will provide

 

Then you should have your eyes checked.

 

I take it you never owned a business

 

Then why did the democrats make them Obama tax cuts in December 2010?

 

That is what caused the housing bubble to burst

 

The recession was almost solely caused by the democrats. Please...if you want to be taken seriously, get your facts straight, do some research, and then come back.

 

I've been self-employed (dj, web administrator, music promoter/director)

Whats your point?

 

Most small business need to take out loans to start up and expand

 

Wonder what will happen to the figure when 500,000 troops are sent packing?

 

Half a mil new entrepreneuers ain't a bad thing.

 

REinforces what I said. The deficit growth is based on a scenario where the Bush tax cuts expire.

I agree that is there is no enhancement of revenues thru an increase in taxes without a corresponding cut in spending, large deficits will continue.

It is evidence of why we need to let the Bush tax cuts expire.

Terrible. A trend that started in 1981 with the huge tax cuts and spending increases, policies that, except for the Clinton administration, have continued thru this day.

 

Clinton and the Dems raised taxes 30%. As a result, revenues exploded, and grew far faster than the economy. And economic growth, as you noted, was great, despite the tax increase and conservative predictions that is would cause economic ruin.

The reverse happened in 2001 when taxes were cut.

 

Sure. Because he inherited a surplus budget, no debt, and a healthy economy.

It's all Obama's fault.

 

Same thing that has happened when 500,000 government workers were sent packing over the past year.

It makes the unemployment situation worse.

 

You should have enough capital saved up first before doing that otherwise you are being extremely risky.