Let us get this budget surplus and deficit stuff straight once and for all

Discussion in 'Politics' started by JRK, Aug 10, 2011.

  1. JRK
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    JRK Senior Member

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    Congress has as much or more to do with that process than any-one
    For the people
    By the people

    Bill Clinton got credit for what Newt and the boys did in the 90s

    Newt Gingrich and company -- for all their faults -- have received virtually no credit for balancing the budget. Yet today's surplus is, in part, a byproduct of the GOP's single-minded crusade to end 30 years of red ink. Arguably, Gingrich's finest hour as Speaker came in March 1995 when he rallied the entire Republican House caucus behind the idea of eliminating the deficit within seven years.

    We have a balanced budget today that is mostly a result of 1) an exceptionally strong economy that is creating gobs of new tax revenues and 2) a shrinking military budget. Social spending is still soaring and now costs more than $1 trillion.

    Skeptics said it could not be done in seven years. The GOP did it in four.

    No, Bill Clinton Didn't Balance the Budget | Stephen Moore | Cato Institute: Daily Commentary

    And when it comes to deficits after 2001?

    from 02-07
    all GOP budgets we run a yearly deficit of about 250 billion a year
    GWB would not even sign 2009 budget and the 08 was 450-500 billion in the hole
    both with a dem congress
    Budget 2011: Past Deficits vs. Obama’s Deficits in Pictures

    so with that said and adding 10-11 and 12 to that we have from about 98-07
    GOP added about 1 trillion and the left has added, well lets just allot more than 1 trillion

    There is nothing here to debate
    if there is what exactly would it be?
     
  2. signelect
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    signelect BANNED

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    Congress doesn't want a balanced budget. Where do you think they get their real compensation from, it's not their salary it is from the payoff in the form of job for relatives working for gov't contractors and benefits they have voted for themselves. This has been going on for years.
     
  3. toxicmedia
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    toxicmedia Gold Member

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    Good thread.....but.....Stephen Moore is an idiot.
     
  4. auditor0007
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    auditor0007 Gold Member

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    I have no problem giving Gingrich and the Republicans credit. Clinton also deserves part of the credit because he worked with Congress to get it done. And lest we forget, taxes were higher at that time.

    Then comes Bush, who pretty much had a decent economy to work with. Even with the two small recessions, unemployment never dipped very much and rebounded back strong enough, so he was never fighting a horrible economy by any means, yet the deficits soared and they didn't even include the cost of the unfunded wars he got us into. Now you try to compare the Dems and Obama running massive deficits during our worst economy since the Great Depression (not comparing, because this is nowhere near as bad) to Bush's deficits. Of course we are in worse shape now. We have had a massive drop in tax revenue, we are now actually accounting for the cost of our wars, and we now have 9 plus percent unemployment. But you are going to try to blame the bad economy on the Dems and Obama when this started before Obama ever took office. It's time for a reality check. I think the biggest problem is that some of you actually think things would have been different had the Republicans held on to Congress and the Whitehouse. Sorry but nothing would be different.
     
  5. JRK
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    JRK Senior Member

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    who told you the deficits did not have the wars included in them?
    thats the biggest lie out there today
    from the same link I have to keep using
    Bush Deficit vs. Obama Deficit in Pictures
    UPDATE: Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers above. Also, some Obama defenders are claiming the graphic above represents biased Heritage Foundation numbers. While we stand behind the numbers we put out 100%, the numbers, and the graphic itself, above are from the Washington Post. We originally left out the link to WaPo. It has now been added.
    CLARIFICATION: Of course, this Washington Post graphic does not perfectly delineate budget surpluses and deficits by administration. President Bush took office in January 2001, and therefore played a lead role in crafting the FY 2002-2008 budgets. Presidents Bush and Obama share responsibility for the FY 2009 budget deficit that overlaps their administrations, before President Obama assumes full budgetary responsibility beginning in FY 2010. Overall, President Obama’s budget would add twice as much debt as President Bush over the same number of years.

    tax revenue? not from tax cuts

    Bush tax cuts - Wikipedia, the free encyclopedia
     
  6. NYcarbineer
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    NYcarbineer Diamond Member

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    The Republican congress in the nineties was under the constraints of PAYGO.

    Then they let it expire after Bush was elected, so they could get back to their real selves, borrowing and spending like crazy.
     
  7. code1211
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    code1211 Senior Member

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    Is that by way of a solution? A blame fest is a little like masturbation. It must make you feel good, but it produces nothing.

    We are where we are. It would be nice to turn the debt clock back 4 Trillion to the start of the Big 0's failure of 6 Trillion to go all the way back to the start of W's.

    Too bad. We can't.

    Any journey must start from where you are. We are in deep poop. it's time to start trying to get out. Bemoaning the problems of something 3 years ago, AGAIN, and again, is non productive and frankly a little stupid.

    Want to blame someone? Blame the guy in the mirror and then ask him politely to fix it.
     
  8. The Rabbi
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    The Rabbi Diamond Member

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    No, idiot.
    The 2001 recession had MORE job loss that the 2008 one. What kept it from becoming bad were Bush's policies, which continued to encourage job creation.
    Obama's recession is worse precisely because of Obama's policies.

    This thread is doomed because the leftys will never admit the truth.
     
  9. NYcarbineer
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    NYcarbineer Diamond Member

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    Proof?
     
  10. The Rabbi
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    The Rabbi Diamond Member

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    Look at the posts from the Left. Even though the OP is spot on they cannot accept the truth.
     

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