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wolfdancer
11-12-2009, 03:04 PM
From Yahoo
"Federal Deficit Sets October Record of $176.4B"

As the economists say...a billion here and a billion there....and pretty soon, it starts to add up

cushioncrawler
11-12-2009, 03:10 PM
The fed deficit iz probly ok taking into account that the States are going reasonably well.
madMac.

wolfdancer
11-12-2009, 03:53 PM
Mac, There was a list yesterday, I believe? about a dozen states that are in a serious financial state ( no pun intended)
Only one I can remember is Nevada, that depends upon OPM from adjoining states to generate revenue. They do have a huge warehousing industry, thanks to their "no floor tax"; still do some gold mining near Elko, but the gambling revenues are way down,Reno and LV property prices have plummeted, along with a high number of mortgage defaults. And it's too ******* cold in the winter and too hot in the summer...people are escaping in the middle of the night....
There used to be highway signs all over the U.S. back in the 40's
"Harold's Club, or bust" Harold's club went bust about 10 or 15 years ago, and Reno is about to go bust, maybe?
Harold "Pappy" Smith was a legend. Back then if a serviceman went bust in his club, he would give them bus fare to go back home,even to the East Coast, but they couldn't gamble anymore in his place. Now they just throw your butt out into the street and tell you don't come back, at least until you get next month's SS check.

cushioncrawler
11-12-2009, 05:22 PM
Woofly -- Of course i woz only kidding.
The thing iz, if the States start to balance their books, then their recent contributions to the overall nonfunded deficit will fall, and then the fed nonfunded deficit spending will on its own be too small to quickly pull the usofa economy out of its fall.

I wonder, what were the sizes ($$$/month) of the States nonfunded deficits, and the size ($$$/month) of the fed nonfunded deficit -- they were probly much much less than the funded deficits.

It iz the NFD's that fix the sick economy -- FD's are just a placebo, no real good.
Hencely if the States start to try to balance their books, it iz their NFD's that will bite the dust first -- in which case the usofa economic recovery will be slow and long, if at all.
madMac.