Phony budget numbers on Lou Dobbs

[DemonFighterLives]

Jim Cooper (D) announcing deficit of 790 billion $ almost double what the pRes is talking about.

Edit: debt to deficit

[Joanne98]

1. Two sets of books. Thru Clinton and Bush adminstrations....

The debt with obligations is 49 trillion dollars.

[DemonFighterLives]

3. Is this big or what

Clinton gets no pass and no surplus.
Dobbs says he will now use the new numbers.
:nopity:

[sueh]

4. Wow.

Feel like I've just been punched in the stomach.

[butterfly77]

16. I believe that this is somemore Bushit,,,

they are planning for if the dems win and the investigations so they are changing numbers and covering their asses, and no matter what happens it always has to go back to CLINTON DID IT!

[DemonFighterLives]

2. Quickvote

QUICKVOTE
Do you believe our elected representatives, by using two sets of books, are trying to deceive the American public about the financial health of the United States?
http://www.cnn.com/CNN/Programs/lou.dobbs.tonight/

:argh:

Edit for results:
Do you believe our elected representatives, by using two sets of books, are trying to deceive the American public about the financial health of the United States?

Yes 98% 977 votes

No 2% 18 votes
Total: 995 votes

[CoffeeCat]

5. More good news going into Nov 06...

We need that "throw the bums out" mentality to simmer to a slow boil--as we
near the Nov elections.

I'm not happy with Clinton. I'm not happy with Bush. As the previous poster
said--no one gets a pass.

The Dems better get on this, come up with a plan and violently expose what Bush
has done to our nation's financial health.

Get on that, Dems. NOW.

[DemonFighterLives]

8. He played a clip of the knucklehead in chief saying that

the deficit was only 396 billion and the cultists clapped. Oorah!
I was saying to myself, "what is so damn good about that?"

:dem:

[snowbear]

6. I couldn't believe that report !! Fortunately, Lou said Cooper is...

...putting all the information into a book that is coming out.

Didn't catch the details of when it was coming out.. But WOW, it will be complete insanity if the media (aside from just Lou) doesn't cover the hell out of that story!!

[Joanne98]

9. Google Katherine Austin Fitts. It's a lot worse than this report....

Thank God Lou is willing to do this. He's very brave.

[DemonFighterLives]

12. Thanks Joanne

Do you have a good link? I looked a little.
Lou is really going out on a limb.

[DemonFighterLives]

7. Jim Cooper

http://cooper.house.gov/newsroom/releases/july06/072006_budget.htm

clip...
What difference does it make to taxpayers?

The Budget says the deficit was $319 billion in 2005 while the Financial Report says it was $760 billion, or over twice as large.

David Walker, Comptroller General of the United States, has been clear on the question of cash basis accounting. “Continuing on this unsustainable path will gradually erode, if not suddenly damage, our economy, our standard of living, and ultimately our national security.”

In order to give taxpayers a truer measure of America’s financial status, Cooper just introduced two separate bills that urge Congress to consider accrual and long-term budgeting when planning next year’s federal budget. Cooper introduced a similar amendment in the House Budget Committee in March. It received unanimous approval by the full House but was removed from the budget resolution in conference with the Senate.

While the Federal Budget is widely distributed to every member of Congress and the national media when it is released by the President, the Administration does little to bring attention to The Financial Report. It is distributed to fewer than 20 members of Congress and is released in the midst of the Christmas holiday season with no accompanying press release or media announcement.

"We can’t fix our deficit problem if we don’t acknowledge a problem exists,” Cooper added. "Considering accrual accounting is an important first step.”

[Up2Late]

10. Who's numbers are you say are "Phony?" And don't you mean "Deficit?"

The numbers Jim Cooper has sound MUCH closer to the truth.

The WH eliminates lots of the deficit, by using accounting tricks and by removing little programs like Iraq War spending and Social Security costs.

Here's the website with the current $8.4 Trillion Dollar Debt clock: <http://www.toptips.com/debtclock.html>

[DemonFighterLives]

11. Deficit yes and

It is dubby's numbers that are wrong or more precise, a different accounting method.
Thanks, I'll correct that.
:dem:

[DemonFighterLives]

13. Still 98%

Yes 98% 4629 votes

No 2% 80 votes
Total: 4709 votes

[papau]

14. Cash Accounting versus accrual accounting - if I didn't pay cash for

that contract item you delivered, but instead promised that the next President would come up with the cash, that part of the deficit is assigned to the next president.

No one keeps track of Federal promises to pay in the future - except when it comes to Social Security and Medicare - and the funny part of that is the fact that the funds to be paid in the future have not even accrued yet - unlike the military contracts to Halliburton/Carlyle which are past due bills.

[DemonFighterLives]

15. dubby can just charge it

and put the future of this country in jeopardy.
:kick:

[papau]

17. He has charged the cost of the 1st $1 trillion tax cut gift to the rich

and sent the bill to our kids -

as compassionate conservative Bush says he now wants to cut " entitlements (read Social Security - which has no funding problem, and Medicare - which has a major funding problem that only single payer national health can cure assuming we still want to continue to provide health care to the non-rich).

But first we need to give the 13,000 families that own 90% of the use another tax cut gift of about $300 billion (plus $1 trillion over the next 10 years beyond the first 10 years) by cutting the estate tax.

And our media says nothing.

[DemonFighterLives]

18. From the Democrats, last month

http://www.democrats.org/a/2006/07/bushs_budget_de.php

clip...

"Here they go again cherry-picking the facts to hide the truth from the American people," said Democratic National Committee Press Secretary Stacie Paxton. "The simple fact is that we simply cannot trust the Bush Administration with our tax dollars, nor can we trust them to tell the truth about how much of it they are spending.

"Only the Bush Administration and the rubber stamp Republican Congress would think that an economy with the fourth largest deficit in history, millions of hard working Americans facing stagnating wages while their costs skyrocket with no relief in sight, is something to celebrate. Then again, the Bush economic boom was not designed to benefit hard working Americans. In keeping with Republican policies, it was designed to help the big corporations, once again putting what's good for them ahead of what's good for the American people. Democrats offer a new direction for America that includes sound fiscal policies and an economy that works America's families."

:argh: