Campbell
Gold Member
- Aug 20, 2015
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A so called "shrinking" deficit means nothing, if there is such an large debt it can't be repaid.
Just like putting bandaids on broken arm...
Bull Shit. Bill Clinton assumed a debt of:
09/30/1993 $4,411,488,883,139.38. This is the date of the end of GHW Bush's last budget. Government budgets work by fiscal years and they begin on Oct. 1st of the budget year and end on Sept.30 of the next year.
Clinton raised tax rates while he still had a Democrat majority and when he left office the debt had grown $1.3 trillion but in FY's 1999, 2000 his administration bought back nearly $400,000,000,000 of our debt. Clinton left surpluses in the offing to continue to a completely paid off national debt. Then the ignoramus from TX took over, immediately cut tax rates again, not once but twice, 2001 and 2003. He used reconciliation to block Democrat opposition then doubled the debt to nearly $12 trillion. It's the tax rates...as sorry as those with the big bucks are to hear it this nation thrives when everyone is being treated fairly and some of the wealth is spread around not just funneled to the top.
When the president took over...the annual interest on the national debt approached the same figure as the defense budget. These foreign banks like to see their interest payments paid regularly and on time.
Debt is debt... Nothing can be done when starting out in a hole.
That's simply not true. When Reagan took over in 1981 we were almost out of debt from the second world war...owed less than $1 trillion. Reagan slashed tax rates to 50 year lows, continued to spend like a drunk sailor and proceeded to quadruple the total debt. When anybody cuts taxes they should be forced to show which spending they will cut in order to still balance the books.
Your statement was so foolish that I hate to even justify it with a response. I've been in debt half a dozen times in my life.....the worst when my first wife and I divorced and I had three young children to provide for. Then after they were all out of college, two with master's degrees I settled everything except my house. I made the final payment on my present house in 2005 and haven't owed anybody a dime since. Well.....we do settle our credit card debts at the end of each month but that's it.