USArmyRetired
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- May 29, 2010
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- #21
But Chris. Obama for 800 days hasn't passed a budget to tackle this. Unemployment is at 9%. He hasn't lifted the moratorium on drilling. Why hasn't he done anything about this?Bullshit lies from a liar. Clinton did not leave Bush with a balanced budget and world peace you idiot. Clinton left BUSH with a recession.Clinton left Bush with a balanced budget, a strong economy, and a nation at peace.
Eight years later, Bush left Obama with a trillion dollar deficit, a shattered economy, and two useless wars.
Bush was the worst president in American history.
The Clinton years showed the effects of a large tax increase that Clinton pushed through in his first year, and that Republicans incorrectly claim is the "largest tax increase in history." It fell almost exclusively on upper-income taxpayers. Clintons fiscal 1994 budget also contained some spending restraints. An equally if not more powerful influence was the booming economy and huge gains in the stock markets, the so-called dot-com bubble, which brought in hundreds of millions in unanticipated tax revenue from taxes on capital gains and rising salaries.
Clintons large budget surpluses also owe much to the Social Security tax on payrolls. Social Security taxes now bring in more than the cost of current benefits, and the "Social Security surplus" makes the total deficit or surplus figures look better than they would if Social Security wasnt counted. But even if we remove Social Security from the equation, there was a surplus of $1.9 billion in fiscal 1999 and $86.4 billion in fiscal 2000. So any way you count it, the federal budget was balanced and the deficit was erased, if only for a while.
The Budget and Deficit Under Clinton | FactCheck.org