Without Reagan/Bush/Bush the debt would be about 15-20% of GDP

[OohPooPahDoo]

Note the green line

The green line shows what would have happened to the national debt if Reagan and the Bushes had balanced their budgets as Reagan claimed he would. G.W. Bush, in all modesty, claimed he would "retire nearly $1 trillion in debt over the next four years. This will be the largest debt reduction ever achieved by any nation at any time."

Conservatives are quite embarrassed by this performance, so they have invented a cover story: The Democratic Congress did it. Nice try. But for 12 of the 20 years the Congress was not Democratic. Also, presidents can veto, and when it was Democratic, Congress passed smaller budgets on average than the Republican Presidents asked for. Presidents propose the budget, and they have the most influence. Check it out.

 

[MarcATL]

These CON$ and Neocons don't wanna hear this.

They are allergic to the truth.

 

[Truthmatters]

its why the scream lounder and louder when the facts are presented.

facts are not their friends

 

[Black_Label]

These CON$ and Neocons don't wanna hear this.

They are allergic to the truth.

Big time. The hard right wing idiots think running up massive debt, spending like lunatics, and tanking the economy is a good thing.

 

[SniperFire]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

 

[Black_Label]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

If that was true then we would have had to most booming economy in US history under W.

Beyond epic fail.

 

[Procrustes Stretched]

These CON$ and Neocons don't wanna hear this.

They are allergic to the truth.

Paradox of Reagan Budgets: Austere Talk vs. Record Debt - New York Times

bookMarc this link

---

"Many budget experts lament the tax cut of 1981 as missing an opportunity to bring the deficit under control. Oil prices were declining, they note, and Americans had more real income than before. ''If the 1981 tax cuts had not been passed, the Federal Government would be collecting more than $200 billion extra, enough to create a budget surplus,'' said Prof. Lawrence Summers, a Harvard economist and former aide to the Council of Economic Advisers." - the linked article

 

[SniperFire]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

If that was true then we would have had to most booming economy in US history under W.

More idiotic of you than normal, blacky.

More fail.

 

[The T]

Note the green line

The green line shows what would have happened to the national debt if Reagan and the Bushes had balanced their budgets as Reagan claimed he would. G.W. Bush, in all modesty, claimed he would "retire nearly $1 trillion in debt over the next four years. This will be the largest debt reduction ever achieved by any nation at any time."

Conservatives are quite embarrassed by this performance, so they have invented a cover story: The Democratic Congress did it. Nice try. But for 12 of the 20 years the Congress was not Democratic. Also, presidents can veto, and when it was Democratic, Congress passed smaller budgets on average than the Republican Presidents asked for. Presidents propose the budget, and they have the most influence. Check it out.

Have a legit LINK to this newest line of yaksqueeze?

 

[Procrustes Stretched]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

bookMArc this link also.

:::::::::::::::::::: FYI :::::::::::::::: Wikipedia article ::::::::::

After reaching its post-WWII low in 1974, debt relative to GDP rose rapidly in the 1980s. President Ronald Reagan's economic policies lowered tax rates and increased military spending, while congressional Democrats blocked attempts to reverse social welfare spending.[13][14] As a result, public debt as a share of GDP increased to 41% by the end of the 1980s.[15]

Debt held by the public continued to rise during the presidency of George H. W. Bush. It reached nearly 50% of GDP during Bill Clinton's first presidential term. However, it fell to 39% of GDP by the end of Clinton's presidency due in part to decreased military spending after the Cold War, 1990, 1993 and 1997 budgets that increased taxes, and increased tax revenue resulting from the Dot-com bubble.[16][17][18] The budget controls instituted in the 1990s successfully restrained fiscal action by the Congress and the President and together with economic growth contributed to the budget surpluses that materialized by the end of the decade. These surpluses led to a decline in the debt held by the public, and from fiscal years 1998 through 2001, the debt-to-GDP measure declined from about 43 percent to about 33 percent.[19]

Debt relative to GDP rose due to recessions and policy decisions in the early 21st century. From 2000 to 2008 debt held by the public rose from 35% to 40%, and to 62% by the end of fiscal year 2010.[20] During the presidency of George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008,[21] due in part to the Bush tax cuts and increased military spending caused by the wars in the Middle East.[22] In the aftermath of the Global Financial Crisis, the debt increased from $10.7 trillion in 2008 to $15.5 trillion by February 2012 under the presidency of Barack Obama.[23]

The Congressional Budget Office (CBO) projected in 2001 that the federal government would erase its debt in 2006 and be $2.3 trillion in the black by 2011. The difference between projected and actual debt in 2011 can be largely attributed to:[24][25][26]

$3.6 Trillion – Economic changes (including lower than expected tax revenues due to recession)
$3.0 Trillion – Bush Tax Cuts
$1.4 Trillion – War in Afghanistan and Iraq
$1.4 Trillion – Stimulus spending in response to the 2008 Financial Crisis

United States public debt - Wikipedia, the free encyclopedia

 

[SniperFire]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

:::::::::::::::::::: FYI :::::::::::::::: Wikipedia article ::::::::::

After reaching its post-WWII low in 1974, debt relative to GDP rose rapidly in the 1980s. President Ronald Reagan's economic policies lowered tax rates and increased military spending, while congressional Democrats blocked attempts to reverse social welfare spending.[13][14] As a result, public debt as a share of GDP increased to 41% by the end of the 1980s.[15]

Debt held by the public continued to rise during the presidency of George H. W. Bush. It reached nearly 50% of GDP during Bill Clinton's first presidential term. However, it fell to 39% of GDP by the end of Clinton's presidency due in part to decreased military spending after the Cold War, 1990, 1993 and 1997 budgets that increased taxes, and increased tax revenue resulting from the Dot-com bubble.[16][17][18] The budget controls instituted in the 1990s successfully restrained fiscal action by the Congress and the President and together with economic growth contributed to the budget surpluses that materialized by the end of the decade. These surpluses led to a decline in the debt held by the public, and from fiscal years 1998 through 2001, the debt-to-GDP measure declined from about 43 percent to about 33 percent.[19]

Debt relative to GDP rose due to recessions and policy decisions in the early 21st century. From 2000 to 2008 debt held by the public rose from 35% to 40%, and to 62% by the end of fiscal year 2010.[20] During the presidency of George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008,[21] due in part to the Bush tax cuts and increased military spending caused by the wars in the Middle East.[22] In the aftermath of the Global Financial Crisis, the debt increased from $10.7 trillion in 2008 to $15.5 trillion by February 2012 under the presidency of Barack Obama.[23]

The Congressional Budget Office (CBO) projected in 2001 that the federal government would erase its debt in 2006 and be $2.3 trillion in the black by 2011. The difference between projected and actual debt in 2011 can be largely attributed to:[24][25][26]

$3.6 Trillion – Economic changes (including lower than expected tax revenues due to recession)
$3.0 Trillion – Bush Tax Cuts
$1.4 Trillion – War in Afghanistan and Iraq
$1.4 Trillion – Stimulus spending in response to the 2008 Financial Crisis

United States public debt - Wikipedia, the free encyclopedia

My facts stand.

More fail.

 

[SniperFire]

A little dated, but you get the idea:


Put Democrats in charge of the Nation's checkbook, and look what happens:


Democrats took the GOP’s last deficit of $162 Billion and ran it up to $1.4 TRILLION

9 TIMES the amount of the last GOP deficit

Republicans control Congress
2000 290 Billion SURPLUS
2001 127 Billion SURPLUS
2002 157 Billion
2003 374 Billion
2004 413 Billion
2005 319 Billion
2006 248 Billion
2007 162 Billion
Democrats control Congress as of Jan 2007
2008 455 Billion
2009 1,400 TRILLION
2010 1.300 TRILLION
2011 1,300 TRILLION

The nonpartisan Congressional Budget Office offers a prognosis: "Under the president's budget, debt held by the public would grow from $7.5 trillion (53 percent of GDP) at the end of 2009 to $20.3 trillion (90 percent of GDP) at the end of 2020." Interest payments would quadruple.'

http://www.chicagotribune.com/news/opinion/edito rials/ct-edit-buffett-20100329,0,7563220.story


Interest payments are 9% of our budget right now. Do you know what will happen when interest payments become 39% of our budget, per Obama's plan?

 

[Black_Label]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

:::::::::::::::::::: FYI :::::::::::::::: Wikipedia article ::::::::::

After reaching its post-WWII low in 1974, debt relative to GDP rose rapidly in the 1980s. President Ronald Reagan's economic policies lowered tax rates and increased military spending, while congressional Democrats blocked attempts to reverse social welfare spending.[13][14] As a result, public debt as a share of GDP increased to 41% by the end of the 1980s.[15]

Debt held by the public continued to rise during the presidency of George H. W. Bush. It reached nearly 50% of GDP during Bill Clinton's first presidential term. However, it fell to 39% of GDP by the end of Clinton's presidency due in part to decreased military spending after the Cold War, 1990, 1993 and 1997 budgets that increased taxes, and increased tax revenue resulting from the Dot-com bubble.[16][17][18] The budget controls instituted in the 1990s successfully restrained fiscal action by the Congress and the President and together with economic growth contributed to the budget surpluses that materialized by the end of the decade. These surpluses led to a decline in the debt held by the public, and from fiscal years 1998 through 2001, the debt-to-GDP measure declined from about 43 percent to about 33 percent.[19]

Debt relative to GDP rose due to recessions and policy decisions in the early 21st century. From 2000 to 2008 debt held by the public rose from 35% to 40%, and to 62% by the end of fiscal year 2010.[20] During the presidency of George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008,[21] due in part to the Bush tax cuts and increased military spending caused by the wars in the Middle East.[22] In the aftermath of the Global Financial Crisis, the debt increased from $10.7 trillion in 2008 to $15.5 trillion by February 2012 under the presidency of Barack Obama.[23]

The Congressional Budget Office (CBO) projected in 2001 that the federal government would erase its debt in 2006 and be $2.3 trillion in the black by 2011. The difference between projected and actual debt in 2011 can be largely attributed to:[24][25][26]

$3.6 Trillion – Economic changes (including lower than expected tax revenues due to recession)
$3.0 Trillion – Bush Tax Cuts
$1.4 Trillion – War in Afghanistan and Iraq
$1.4 Trillion – Stimulus spending in response to the 2008 Financial Crisis

United States public debt - Wikipedia, the free encyclopedia

My facts stand.

More fail.

LOL! right wingers, there's nothing you hate more than facts.

 

[Procrustes Stretched]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

:::::::::::::::::::: FYI :::::::::::::::: Wikipedia article ::::::::::

After reaching its post-WWII low in 1974, debt relative to GDP rose rapidly in the 1980s. President Ronald Reagan's economic policies lowered tax rates and increased military spending, while congressional Democrats blocked attempts to reverse social welfare spending.[13][14] As a result, public debt as a share of GDP increased to 41% by the end of the 1980s.[15]

Debt held by the public continued to rise during the presidency of George H. W. Bush. It reached nearly 50% of GDP during Bill Clinton's first presidential term. However, it fell to 39% of GDP by the end of Clinton's presidency due in part to decreased military spending after the Cold War, 1990, 1993 and 1997 budgets that increased taxes, and increased tax revenue resulting from the Dot-com bubble.[16][17][18] The budget controls instituted in the 1990s successfully restrained fiscal action by the Congress and the President and together with economic growth contributed to the budget surpluses that materialized by the end of the decade. These surpluses led to a decline in the debt held by the public, and from fiscal years 1998 through 2001, the debt-to-GDP measure declined from about 43 percent to about 33 percent.[19]

Debt relative to GDP rose due to recessions and policy decisions in the early 21st century. From 2000 to 2008 debt held by the public rose from 35% to 40%, and to 62% by the end of fiscal year 2010.[20] During the presidency of George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008,[21] due in part to the Bush tax cuts and increased military spending caused by the wars in the Middle East.[22] In the aftermath of the Global Financial Crisis, the debt increased from $10.7 trillion in 2008 to $15.5 trillion by February 2012 under the presidency of Barack Obama.[23]

The Congressional Budget Office (CBO) projected in 2001 that the federal government would erase its debt in 2006 and be $2.3 trillion in the black by 2011. The difference between projected and actual debt in 2011 can be largely attributed to:[24][25][26]

$3.6 Trillion – Economic changes (including lower than expected tax revenues due to recession)
$3.0 Trillion – Bush Tax Cuts
$1.4 Trillion – War in Afghanistan and Iraq
$1.4 Trillion – Stimulus spending in response to the 2008 Financial Crisis

United States public debt - Wikipedia, the free encyclopedia

My facts stand.

More fail.

facts:

:::::::::::::::::::: FYI :::::::::::::::: Wikipedia article ::::::::::

After reaching its post-WWII low in 1974, debt relative to GDP rose rapidly in the 1980s. President Ronald Reagan's economic policies lowered tax rates and increased military spending, while congressional Democrats blocked attempts to reverse social welfare spending.[13][14] As a result, public debt as a share of GDP increased to 41% by the end of the 1980s.[15]

Debt held by the public continued to rise during the presidency of George H. W. Bush. It reached nearly 50% of GDP during Bill Clinton's first presidential term. However, it fell to 39% of GDP by the end of Clinton's presidency due in part to decreased military spending after the Cold War, 1990, 1993 and 1997 budgets that increased taxes, and increased tax revenue resulting from the Dot-com bubble.[16][17][18] The budget controls instituted in the 1990s successfully restrained fiscal action by the Congress and the President and together with economic growth contributed to the budget surpluses that materialized by the end of the decade. These surpluses led to a decline in the debt held by the public, and from fiscal years 1998 through 2001, the debt-to-GDP measure declined from about 43 percent to about 33 percent.[19]

Debt relative to GDP rose due to recessions and policy decisions in the early 21st century. From 2000 to 2008 debt held by the public rose from 35% to 40%, and to 62% by the end of fiscal year 2010.[20] During the presidency of George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008,[21] due in part to the Bush tax cuts and increased military spending caused by the wars in the Middle East.[22] In the aftermath of the Global Financial Crisis, the debt increased from $10.7 trillion in 2008 to $15.5 trillion by February 2012 under the presidency of Barack Obama.[23]

The Congressional Budget Office (CBO) projected in 2001 that the federal government would erase its debt in 2006 and be $2.3 trillion in the black by 2011. The difference between projected and actual debt in 2011 can be largely attributed to:[24][25][26]

$3.6 Trillion – Economic changes (including lower than expected tax revenues due to recession)
$3.0 Trillion – Bush Tax Cuts
$1.4 Trillion – War in Afghanistan and Iraq
$1.4 Trillion – Stimulus spending in response to the 2008 Financial Crisis

United States public debt - Wikipedia, the free encyclopedia

 

[Procrustes Stretched]

A little dated, but you get the idea:


Put Democrats in charge of the Nation's checkbook, and look what happens:


Democrats took the GOP’s last deficit of $162 Billion and ran it up to $1.4 TRILLION

9 TIMES the amount of the last GOP deficit

Republicans control Congress
2000 290 Billion SURPLUS
2001 127 Billion SURPLUS
2002 157 Billion
2003 374 Billion
2004 413 Billion
2005 319 Billion
2006 248 Billion
2007 162 Billion
Democrats control Congress as of Jan 2007
2008 455 Billion
2009 1,400 TRILLION
2010 1.300 TRILLION
2011 1,300 TRILLION

The nonpartisan Congressional Budget Office offers a prognosis: "Under the president's budget, debt held by the public would grow from $7.5 trillion (53 percent of GDP) at the end of 2009 to $20.3 trillion (90 percent of GDP) at the end of 2020." Interest payments would quadruple.'

http://www.chicagotribune.com/news/opinion/edito rials/ct-edit-buffett-20100329,0,7563220.story


Interest payments are 9% of our budget right now. Do you know what will happen when interest payments become 39% of our budget, per Obama's plan?

dueling facts:

:::::::::::::::::::: FYI :::::::::::::::: Wikipedia article ::::::::::

After reaching its post-WWII low in 1974, debt relative to GDP rose rapidly in the 1980s. President Ronald Reagan's economic policies lowered tax rates and increased military spending, while congressional Democrats blocked attempts to reverse social welfare spending.[13][14] As a result, public debt as a share of GDP increased to 41% by the end of the 1980s.[15]

Debt held by the public continued to rise during the presidency of George H. W. Bush. It reached nearly 50% of GDP during Bill Clinton's first presidential term. However, it fell to 39% of GDP by the end of Clinton's presidency due in part to decreased military spending after the Cold War, 1990, 1993 and 1997 budgets that increased taxes, and increased tax revenue resulting from the Dot-com bubble.[16][17][18] The budget controls instituted in the 1990s successfully restrained fiscal action by the Congress and the President and together with economic growth contributed to the budget surpluses that materialized by the end of the decade. These surpluses led to a decline in the debt held by the public, and from fiscal years 1998 through 2001, the debt-to-GDP measure declined from about 43 percent to about 33 percent.[19]

Debt relative to GDP rose due to recessions and policy decisions in the early 21st century. From 2000 to 2008 debt held by the public rose from 35% to 40%, and to 62% by the end of fiscal year 2010.[20] During the presidency of George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008,[21] due in part to the Bush tax cuts and increased military spending caused by the wars in the Middle East.[22] In the aftermath of the Global Financial Crisis, the debt increased from $10.7 trillion in 2008 to $15.5 trillion by February 2012 under the presidency of Barack Obama.[23]

The Congressional Budget Office (CBO) projected in 2001 that the federal government would erase its debt in 2006 and be $2.3 trillion in the black by 2011. The difference between projected and actual debt in 2011 can be largely attributed to:[24][25][26]

$3.6 Trillion – Economic changes (including lower than expected tax revenues due to recession)
$3.0 Trillion – Bush Tax Cuts
$1.4 Trillion – War in Afghanistan and Iraq
$1.4 Trillion – Stimulus spending in response to the 2008 Financial Crisis

United States public debt - Wikipedia, the free encyclopedia

 

[OohPooPahDoo]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

Funny how Repubican Presidents aren't responsible for anything that happens under them - unless its good, of course.

Nice try. But for 12 of the 20 years the Congress was not Democratic.

 

[bigrebnc1775]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

Since 1946 Congress has been in control of the democrats in part or whole for 60+ years.

 

[OohPooPahDoo]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

Since 1946 Congress has been in control of the democrats in part or whole for 60+ years.

Reagan supported the spending hikes during his Presidency and did nothing to stop Congress from passing them.

But hey - he was Republican so we can't hold him accountable for anything.

 

[OohPooPahDoo]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

Since 1946 Congress has been in control of the democrats in part or whole for 60+ years.

And just look how poorly our nation has done since 1946?

 

[Samson]

Democrat Congresses are responsible for about 90% of our public debt.


Fail.

Funny how Repubican Presidents aren't responsible for anything that happens under them - unless its good, of course.

No, what's funny is you don't know shit about that which you're posting:

WASHINGTON (CNN) -- President Bush said Tuesday he takes responsibility for the federal government's failures in responding to Hurricane Katrina.

"Katrina exposed serious problems in our response capability at all levels of government and to the extent the federal government didn't fully do its job right, I take responsibility," Bush said during a joint news conference