Bill Clinton's 1993 Balanced Budget Bill. What a great read.

[The Banker]

Ahh the Clinton 90's, what a time to be an American. The best economy ever, and balanced budgets for days.

There is a lot of confusion as to why Bill Clinton had a balanced budget, so I am posting the facts for everybody to see.

I am the king of facts.

Though every congressional Republican voted against the bill, it passed by narrow margins in both the House of Representatives and the Senate. The act increased the top federal income tax rate from 31% to 39.6%, increased the corporate income tax rate, raised fuel taxes, and raised various other taxes. The bill also included $255 billion in spending cuts over a five-year period. The effects of the bill helped the US federal government to experience in 1998 its first budget surplus since the 1960s.

This is the reason why the budget was balanced as it actually cut spending. The dems did this. Every republican opposed this. The dems cut spending. The dems did this.

Read it and educate yourself for your benefit:

Omnibus Budget Reconciliation Act of 1993 - Wikipedia

en.wikipedia.org

 

[The Banker]

Clinton inherited major budget deficits left over from the Reagan and Bush administrations; fiscal year 1992 had seen a $290 billion deficit. In order to cut the deficit, Bentsen, Panetta, and Rubin urged Clinton to pursue both tax increases and spending cuts. They argued that by taming the deficit, Clinton would encourage Federal Reserve Chairman Alan Greenspan to lower interest rates, which, along with increased confidence among investors, would lead to an economic boom.[6]

 

[The Banker]

Clinton presented his budget plan to Congress in February 1993, proposing a mix of tax increases and spending reductions that would cut the deficit in half by 1997.[10] Republican leaders strongly opposed any tax increase and pressured congressional Republicans to unite in opposition to Clinton's budget,[11]and not a single Republican would vote in favor of Clinton's proposed bill.[8]

 

[The Banker]

Ultimately every Republican in Congress voted against the bill. Vice President Al Gore broke a tie in the Senate on both the Senate bill and the conference report.

 

[1srelluc]

You know it might be different if the dems raised taxes to get our house in good financial order but they just want to raise taxes for their free shit army and to fuck the middle class in the ass.

 

[Hossfly]

Clinton presented his budget plan to Congress in February 1993, proposing a mix of tax increases and spending reductions that would cut the deficit in half by 1997.[10] Republican leaders strongly opposed any tax increase and pressured congressional Republicans to unite in opposition to Clinton's budget,[11]and not a single Republican would vote in favor of Clinton's proposed bill.[8]

Democrats are nothing but tax and spend.

 

[The Banker]

You know it might be different if the dems raised taxes to get our house in good financial order but they just want to raise taxes for their free shit army and to fuck the middle class in the ass.

huh?

The dems raised taxes on the rich AND cut spending.
That lowered deficits
Then the FED was able to have looser monetary policy, which helped add to the economic boom of the 90s

And what a boom it was. The 90's were the best America has been in a long time. Bush and the GOP fucked everything up with their massive spending bills and failed wars we didn't need, which Bush totally mismanaged.

Republicans have destroyed America and they have blood on their hands.

 

[whitehall]

Whatever it was and whatever the motivation and the propaganda related to it, Clinton's economic vision is as dead as the cigar he used on Monica. We are dealing with a new Biden view of economics and it seems he is unable to tell us what day it is much less our economic future.

 

[The Banker]

Democrats are nothing but tax and spend.

Except the facts prove otherwise.

They cut and raised taxes on the wealthy.

 

[theHawk]

Ahh the Clinton 90's, what a time to be an American. The best economy ever, and balanced budgets for days.

There is a lot of confusion as to why Bill Clinton had a balanced budget, so I am posting the facts for everybody to see.

I am the king of facts.

Though every congressional Republican voted against the bill, it passed by narrow margins in both the House of Representatives and the Senate. The act increased the top federal income tax rate from 31% to 39.6%, increased the corporate income tax rate, raised fuel taxes, and raised various other taxes. The bill also included $255 billion in spending cuts over a five-year period. The effects of the bill helped the US federal government to experience in 1998 its first budget surplus since the 1960s.

This is the reason why the budget was balanced as it actually cut spending. The dems did this. Every republican opposed this. The dems cut spending. The dems did this.

Read it and educate yourself for your benefit:

Omnibus Budget Reconciliation Act of 1993 - Wikipedia

en.wikipedia.org

OP is lying his ass off as usual. 1993’s budget was not balanced.

A balanced budget was not achieved until 1998. 1996 and 1997 saw massive reductions in yearly budget. 1998 saw the first surpluss.

All thanks to the GOP Congress, as Clinton shut down the government refusing to sign it for so long. He eventually caved and signed it with gnashing teeth.

 

[Oddball]

Ahh the Clinton 90's, what a time to be an American. The best economy ever, and balanced budgets for days.

There is a lot of confusion as to why Bill Clinton had a balanced budget, so I am posting the facts for everybody to see.

I am the king of facts.

Though every congressional Republican voted against the bill, it passed by narrow margins in both the House of Representatives and the Senate. The act increased the top federal income tax rate from 31% to 39.6%, increased the corporate income tax rate, raised fuel taxes, and raised various other taxes. The bill also included $255 billion in spending cuts over a five-year period. The effects of the bill helped the US federal government to experience in 1998 its first budget surplus since the 1960s.

This is the reason why the budget was balanced as it actually cut spending. The dems did this. Every republican opposed this. The dems cut spending. The dems did this.

Read it and educate yourself for your benefit:

Omnibus Budget Reconciliation Act of 1993 - Wikipedia

en.wikipedia.org

There was never a "balanced budget" in real time....The budget was projected to come into balance in 2002, just like Ross Perot said numerous times in '92 that it would.

Sorry to bust your fake narrative...










Not sorry!

 

[theHawk]

There was never a "balanced budget" in real time....The budget was projected to come into balance in 2002, just like Ross Perot said numerous times in '92 that it would.

Sorry to bust your fake narrative...










Not sorry!

He can’t help but lie.

BankerBoi will say and do anything for some Shekels.

 

[Manonthestreet]

Let us establish one point definitively: Bill Clinton didn’t balance the budget. Yes, he was there when it happened. But the record shows that was about the extent of his contribution.

https://www.cato.org/commentary/no-bill-clinton-didnt-balance-budget

 

[Oddball]

Let us establish one point definitively: Bill Clinton didn’t balance the budget. Yes, he was there when it happened. But the record shows that was about the extent of his contribution.

https://www.cato.org/commentary/no-bill-clinton-didnt-balance-budget

Congress passed the bills, Bubba signed them....Both sides are trying to take credit for something that never happened and that they had nothing to do with, as per usual.

 

[Hossfly]

Except the facts prove otherwise.

They cut and raised taxes on the wealthy.

The wealthy pays a huge amount on taxes. There's no logical reason for them to pay a larger percentage rate. Taxes should be the same for everybody. A flat tax rate.

 

[Oddball]

The wealthy pays a huge amount on taxes. There's no logical reason for them to pay a larger percentage rate. Taxes should be the same for everybody. A flat tax rate.

I'm for the fair tax....ZERO!

Nothing more fair than that.

 

[EMH]

What the OP fails to disclose is that budget was supposed to include massive new spending for HillaryCare, but HillaryCare went down in flames, so Clinton is credited for a "balanced budget" when he meant to spend a lot more.

In came Speaker Newt, Bill Clinton got four straight budgets that

CUT SPENDING AND TAXES


and America prospered like never before.


Funny thing is, the author of OP is vehemently opposed to budgets that CUT SPENDING, or even hold spending flat. The OP wants MASSIVE NEW SPENDING despite the data of Bill Clinton and 6 straight budgets with virtually NO SPENDING INCREASES...

 

[Seymour Flops]

There was never a "balanced budget" in real time....The budget was projected to come into balance in 2002.

Yes, I remember how all the the budget cuts were projected for long after Clinton left office, but the tax increases started right away.

Sorry, but a budget that balances year from now is not a balanced budget. It is wishful thinking, at best.

 

[The Banker]

OP is lying his ass off as usual. 1993’s budget was not balanced.

A balanced budget was not achieved until 1998. 1996 and 1997 saw massive reductions in yearly budget. 1998 saw the first surpluss.

All thanks to the GOP Congress, as Clinton shut down the government refusing to sign it for so long. He eventually caved and signed it with gnashing teeth.

duhhhh

Obviously you did not read the link I provided.

Clinton and the dems bill in 1993 led to the balanced budget in 1996

This is clearly outlined in the link and the posts I made.

You people walk into stupid, you set yourself up for this shit.

 

[The Banker]

He can’t help but lie.

BankerBoi will say and do anything for some Shekels.

explain to me what that even means?

Are you suggesting that i get paid money to post on here and embarrass you trash on a daily basis?

Please send me that money, I would like my money then.