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Budget deficit
LIVE LINK TO NYSENATE VIDEOSTREAM: Will New York be the next state to vote for same-sex marriage today?
Looks like DC beat New York State to the gay-marriage punch on a technicality : D.C. Council votes to legalize same-sex marriage - washingtonpost.com
After months of debate, the council passed the bill 11 to 2. It still must take a second vote in two weeks before the measure can go to Mayor Adrian M. Fenty (D), who has said he will sign it.If the bill survives a required congressional review period, the District will join New Hampshire, Connecticut, Iowa, Vermont and Massachusetts in allowing same-sex marriage.
There was a rumor floating around this morning that the New York State Senate was poised to vote on their version of the same-sex marriage bill that was passed by the Assembly earlier this year. What may end up holding the vote hostage? The DRP or Deficit Reduction Plan the NYSenate has been squabbling about for what seems now like an eternity.
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Shrinking budget deficit? No!
The Congressional Budget Office predicted today that the annual federal budget deficit will grow next year from $163B to $219B. The problem is, the deficit for fiscal year 2007 (FY07), which ended September 30, 2007, was nowhere near $163 billion. It was, in fact, over three times that amount.
What accounts for the difference? Retirement programs, such as Social Security, are currently running a huge surplus, all of which is being invested (by federal law) in securities fully backed by the U.S. government -- such as the Treasury Bonds issued to finance the deficit. When those surpluses are factored out, the true operating deficit of the U.S. Government is revealed -- and it hasn't been shrinking.
Based on numbers which anyone can look up at this cool Treasury Dept. website, the deficits for the last six fiscal years are as follows (in billions): read more »





