Wry Catcher
Diamond Member
- Banned
- #1
"I am not worried about the deficit. It is big enough to take care of itself."
Ronald Reagan, President of the United States.
The debate over debt really turns on how much is "too much".
Between 1935 and 1981 the only significant increases in the deficit occurred during world war II and the Vietnam War.
Between 1981 and 1989 the Reagan Administration consistently ran annual deficits of $167 Billion and more than doubled the nations outstanding gross debt.
The Clinton Administration posted four straight years of surpluses and wiped out the annual deficit in 1998; But, the total national debt never decreased because the interest on the debt was highter than the surpluses.
Bush's tax cut in 2002 turned a $126 Billion annual surplus into a $158 Billion deficit and pushed the total federal debt over $6 Trillion.
These are facts, what follows is opinion.
The only way to resolve our current problem is to reduce spending, raise revenue and stop the hysterical emotion based bickering. The Congress needs to look at all ways to increase revenue and all programs to reduce spending. Spending must have a positive cost benefit., based on reason and not emotion.
Ronald Reagan, President of the United States.
The debate over debt really turns on how much is "too much".
Between 1935 and 1981 the only significant increases in the deficit occurred during world war II and the Vietnam War.
Between 1981 and 1989 the Reagan Administration consistently ran annual deficits of $167 Billion and more than doubled the nations outstanding gross debt.
The Clinton Administration posted four straight years of surpluses and wiped out the annual deficit in 1998; But, the total national debt never decreased because the interest on the debt was highter than the surpluses.
Bush's tax cut in 2002 turned a $126 Billion annual surplus into a $158 Billion deficit and pushed the total federal debt over $6 Trillion.
These are facts, what follows is opinion.
The only way to resolve our current problem is to reduce spending, raise revenue and stop the hysterical emotion based bickering. The Congress needs to look at all ways to increase revenue and all programs to reduce spending. Spending must have a positive cost benefit., based on reason and not emotion.
