LIBERALS what is this obsession with the past? and debt?

Discussion in 'Economy' started by JRK, Aug 5, 2011.

  1. JRK
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    JRK Senior Member

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    Reagan, GHW Bush and GW Bush together are responsible for a 61.4% increase in the debt/GDP ratio, while Clinton and Obama (2010) combined account for -0.7%.

    I copied that from another thread
    WHAT?

    Obama is failing
    Clinton's debt had a GOP congress
    close to 1/2 of the debt RR and GWB are being accounted for is interest on debt inherited
    as well as BHO

    MY GOD LIBS GET A GRIP

    UE is out of control and our president has spent trillions we do not have to get us here
    we where fighting 2 wars in 2007 and was within 162 billion dollars of breaking even (WITHOUT ACCUMULATED INTEREST FROM THE PAST 200+ YEARS)
    Today we are fighting one and we cannot even get within 1 trillion dollars of that

    ITS POLICY
    its not GWB
    its not RR
    it has nothing to do with the GOP congress that balanced the Budget with BC in the 90s
     
  2. Greenbeard
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    Greenbeard Gold Member

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    Three major deficit-reducing budgets were produced in the '90s that put us on track for a surplus by the end of the decade.

    [​IMG]

    One of those was produced by a Republican Congress, the Balanced Budget Act of 1997. Unfortunately, that's the one that fizzled out and didn't actually reach its deficit-reducing potential.

    Looking back at the CBO's analysis of the Republican's Balanced Budget Act in 1997, the deficit impact at the end of the '90s/beginning of the '00s was supposed to be:

    • FY98: Net increase in the deficit of $200 million
    • FY99: $12.6 billion in deficit reduction
    • FY00: $35 billion in deficit reduction (note that some of the Medicare cuts that were to account for this reduction were eliminated by the Balanced Budget Refinement Act of 1999)
    • FY01: $18.2 billion in deficit reduction

    This, by the way, is why the graph in that CRS report shows the BBA having very little impact on the deficit until after Year Four of its implementation: the large-scale deficit reductions weren't scheduled to begin until after FY01. As you may recall FY98 was the first year of the surplus, despite the fact that the BBA was adding to the deficit at that point.

    In reality, the large deficit reductions in the BBA were scheduled to start taking place in FY02 and thereafter (two-thirds of which was to come from cuts to federal health spending in FY02 and virtually all of which was to come from those sources in subsequent years). Of course, Congress began overriding those Medicare cuts manually in 2003 and has been doing so ever since--the "doc fix" to cope with the BBA's broken SGR formula that we're still stuck with today.
     
  3. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Obsession with the past?

    Is that like the obsession to return America to 1776 Colonial times?
     
  4. rdean
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    rdean rddean

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    Normal people learn from past mistakes.

    Right wingers rewrite history so their mistakes are the fault of "others".
     
    • Thank You! Thank You! x 1
  5. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    So you are telling New Yorkers to get over 9/11?

    No thanks. We will all hate Al Qaeda and thank Obama for killing the son of a bitch that ran the operation until the day we die.

    Even though Conservatives are against that.
     
  6. Truthmatters
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    Truthmatters BANNED

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    Obsession with the past?


    Now they hate history.

    They hate science.

    They hate scientists

    They hate the definitions of words

    They hate teachers

    They hate economics


    Is there any field of study you dont hate OP?
     
  7. rdean
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    rdean rddean

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    They love calling the president "boy" in one form or another. See? They don't hate everything.
     
  8. NYcarbineer
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    NYcarbineer Diamond Member

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    Would you like a reminder of how many threads you have started about Bush and Reagan?
     
  9. Truthmatters
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    Truthmatters BANNED

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    Calling on people to forget the past is one of the more evil things I think I have ever seen proffered by a party.
     
  10. JRK
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    JRK Senior Member

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    R dean the Debt that RR and GWB accumulated did allot of good during the 16 years they where in ofice
    The only mistakes we can see is having debt with 0 results
     

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