Interesting Chart on US Debt history

[TheJedi]

Obama: First credit downgrade, spent more money in a year than most civilization spend in their entire history, will have run up more debt than all out previous Presidents combined, but Progs Love him and his deficits because, well just because, he's so dreamy

OK. Let's start at the top:

Credit downgrade: Caused by republican obstructionism by trying to fight Obamacare in the budget. Even the Wall Street Journal agreed with that observation
Spending: Spending has actually been cut
Debt: Was climbing as he entered office during the worse recession since 1929.
Dreamy: Very irrational statement. No one in any party "likes" deficits. We just disagree on how to combat it

 

[Dad2three]

Obama: First credit downgrade, spent more money in a year than most civilization spend in their entire history, will have run up more debt than all out previous Presidents combined, but Progs Love him and his deficits because, well just because, he's so dreamy

First downgrade? Oh right thanks to the GOP/TP

Reagan tripled US debt (more than 3 times ALL previous Prez's combined), Both Bush's doubled it

 

[Dad2three]

deficits = inflation.
debt has only small inflationary effect unless too much deficit inflation or missed debt payment spikes interest rates.

When did Clinton cut spending with his Dem House and Dem Senate?

Actually, he did it with a Republican House and Senate.

No, the 93 bill that, without a single GOP vote, Dem had both Houses


http://www.cbo.gov/sites/default/fi...104xx/doc10415/1994_03_reducingthedeficit.pdf




"The deficit has come down, and I give the Clinton Administration and President Clinton himself a lot of credit for that. [He] did something about it, fast. And I think we are seeing some benefits."
— Paul Volcker, Federal Reserve Board Chairman (1979-1987), in Audacity, Fall 1994

One of the reasons Goldman Sachs cites for the "best economy ever" is that "on the policy side, trade, fiscal, and monetary policies have been excellent, working in ways that have facilitated growth without inflation. The Clinton Administration has worked to liberalize trade and has used any revenue windfalls to reduce the federal budget deficit."
— Goldman Sachs, March 1998


WE SAW WHAT HAPPENS WHEN GOP HAS CONTROL (BUSH)...

 

[Dad2three]

They Clinton budget cut spending $140+ billion, part of their $400+ billion deficit reduction bill

http://www.cbo.gov/sites/default/fi...104xx/doc10415/1994_03_reducingthedeficit.pdf

So then, you shit flinging monkey, you claim that government outlays in 2001 were $140 billion less than in 1993 when Clinton took office? IS that your claim, you feral baboon?

So you don't know how budgets work, got it. Just ask, I'll explain it to you Bubba

 

[Uncensored2008]

No, Prez sets the tone for the budgets, then has the veto pen, like Clinton's veto of the GOP $700+ tax cut AFTER his first surplus

Got it!

The President is the author of all spending bills...

{1: All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.}

Have a banana, feral one...

 

[Uncensored2008]

So you don't know how budgets work, got it. Just ask, I'll explain it to you Bubba

That's what I thought, you lying pile of shit.

 

[Toddsterpatriot]

Right, WHILE the economy was in danger of falling off the GOP cliff?



The Myth of Democratic Super Majority.


The Truth is that the Democrats only had a filibuster-proof majority for 24 working days during that period. Here are the details:


Democrats only had a veto proof majority for 24 working days | Fact Left


WAR COSTS CAN JUST DISAPPEAR RIGHT? lol

The Myth of Democratic Super Majority.

He's had a majority his entire time in office. That's more than Bush had in the Senate.

Smartest President ever can't fix things with a majority? Poor baby.

At least his brilliance has us on track now.

Real gross domestic product (GDP) fell 2.9 percent at an annual rate in the first quarter of 2014, according to the third estimate from the Bureau of Economic Analysis.

Oops.

Conservatives NEVER let facts or truth get in their way

GOP has blocked EVERYTHING in the Senate without a super majority for the Dems....

Weird, So GDP fell? That NEVER happens under GOP Prez's right (9% Dubya last quarter 2008, Reagan had 5 quarters of negative GDP)

GOP has blocked EVERYTHING in the Senate without a super majority for the Dems....

Bush and Reagan never had a super majority. I thought Obama was smarter than both?

Weird, So GDP fell?

It is kinda weird, considering the huge jump in debt over the last 5 1/2 years and the smartest President ever, with all his new regulations and his phone and his pen, working from the golf course to get us back on course.

 

[Toddsterpatriot]

Got it, You don't believe the non partisan CBO....

The claim was he cut spending in his first 2 years.

Did spending actually go down?

The claim is he DID cut spending, from what was GOING to happen


We already know what economic policies work best for our country. Clinton knew that we had to cut spending and increase revenues. We had revenues of 20.6% of GDP and a surplus in 2000. Then something terrible happened, the Republicans gained complete control in 2001 and instead of sticking with what was working they decided that their ideology was more important. The debt has gone up $12 trillion since then.

The claim is he DID cut spending, from what was GOING to happen

Don't understand your own link? LOL!

That was an estimate for what spending would be based on what spending would be.
Because it was published in 1994. LOL!

Clinton knew that we had to cut spending and increase revenues.

Well, he raised tax rates and increased spending.

the Republicans gained complete control in 2001

The Democrats gained complete control in 2009

 

[Dad2three]

No, Prez sets the tone for the budgets, then has the veto pen, like Clinton's veto of the GOP $700+ tax cut AFTER his first surplus

Got it!

The President is the author of all spending bills...

{1: All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.}

Have a banana, feral one...

Got it, The Prez is responsible for EVERYTHING except when a Dem balances the budget, in conservative world

 

[Dad2three]

The Myth of Democratic Super Majority.

He's had a majority his entire time in office. That's more than Bush had in the Senate.

Smartest President ever can't fix things with a majority? Poor baby.

At least his brilliance has us on track now.

Real gross domestic product (GDP) fell 2.9 percent at an annual rate in the first quarter of 2014, according to the third estimate from the Bureau of Economic Analysis.

Oops.

Conservatives NEVER let facts or truth get in their way

GOP has blocked EVERYTHING in the Senate without a super majority for the Dems....

Weird, So GDP fell? That NEVER happens under GOP Prez's right (9% Dubya last quarter 2008, Reagan had 5 quarters of negative GDP)

GOP has blocked EVERYTHING in the Senate without a super majority for the Dems....

Bush and Reagan never had a super majority. I thought Obama was smarter than both?

Weird, So GDP fell?

It is kinda weird, considering the huge jump in debt over the last 5 1/2 years and the smartest President ever, with all his new regulations and his phone and his pen, working from the golf course to get us back on course.

Got it, Yoou'll stick with false premises, distortions and lies, the ONLY thing consdervatives EVER have

But you are saying the Dems worked with Ronnie/Dubya?

 

[Dad2three]

The claim was he cut spending in his first 2 years.

Did spending actually go down?

The claim is he DID cut spending, from what was GOING to happen


We already know what economic policies work best for our country. Clinton knew that we had to cut spending and increase revenues. We had revenues of 20.6% of GDP and a surplus in 2000. Then something terrible happened, the Republicans gained complete control in 2001 and instead of sticking with what was working they decided that their ideology was more important. The debt has gone up $12 trillion since then.

The claim is he DID cut spending, from what was GOING to happen

Don't understand your own link? LOL!

That was an estimate for what spending would be based on what spending would be.
Because it was published in 1994. LOL!

Clinton knew that we had to cut spending and increase revenues.

Well, he raised tax rates and increased spending.

the Republicans gained complete control in 2001

The Democrats gained complete control in 2009

The report begins with an introductory chapter that provides general background information on CBO's latest deficit projections and reviews the actions taken in the 1990 and 1993 deficit reduction efforts.


The economic assumptions and baseline budget projections underlying the estimates of spending reductions and
revenue increases contained in this volume are described in more detail in the first volume of CBO's annual report,
The Economic and Budget Outlook: Fiscal Years 1995-1999 (January1994).

http://www.cbo.gov/sites/default/fi...104xx/doc10415/1994_03_reducingthedeficit.pdf

 

[Toddsterpatriot]

Conservatives NEVER let facts or truth get in their way

GOP has blocked EVERYTHING in the Senate without a super majority for the Dems....

Weird, So GDP fell? That NEVER happens under GOP Prez's right (9% Dubya last quarter 2008, Reagan had 5 quarters of negative GDP)

GOP has blocked EVERYTHING in the Senate without a super majority for the Dems....

Bush and Reagan never had a super majority. I thought Obama was smarter than both?

Weird, So GDP fell?

It is kinda weird, considering the huge jump in debt over the last 5 1/2 years and the smartest President ever, with all his new regulations and his phone and his pen, working from the golf course to get us back on course.

Got it, Yoou'll stick with false premises, distortions and lies, the ONLY thing consdervatives EVER have

But you are saying the Dems worked with Ronnie/Dubya?

Please show which parts of my statements were false premises, which were distortions and which were lies.

But you are saying the Dems worked with Ronnie/Dubya?

Reagan passed his tax cuts with no Dem votes?
Expanded the military with no Dem votes?

 

[Toddsterpatriot]

The claim is he DID cut spending, from what was GOING to happen


We already know what economic policies work best for our country. Clinton knew that we had to cut spending and increase revenues. We had revenues of 20.6% of GDP and a surplus in 2000. Then something terrible happened, the Republicans gained complete control in 2001 and instead of sticking with what was working they decided that their ideology was more important. The debt has gone up $12 trillion since then.

The claim is he DID cut spending, from what was GOING to happen

Don't understand your own link? LOL!

That was an estimate for what spending would be based on what spending would be.
Because it was published in 1994. LOL!

Clinton knew that we had to cut spending and increase revenues.

Well, he raised tax rates and increased spending.

the Republicans gained complete control in 2001

The Democrats gained complete control in 2009

The report begins with an introductory chapter that provides general background information on CBO's latest deficit projections and reviews the actions taken in the 1990 and 1993 deficit reduction efforts.


The economic assumptions and baseline budget projections underlying the estimates of spending reductions and
revenue increases contained in this volume are described in more detail in the first volume of CBO's annual report,
The Economic and Budget Outlook: Fiscal Years 1995-1999 (January1994).

http://www.cbo.gov/sites/default/fi...104xx/doc10415/1994_03_reducingthedeficit.pdf

The economic assumptions and baseline budget projections underlying the estimates of spending reductions

Assumptions, projections and estimates. If you want to go back and show that Clinton actually reduced spending by as much, or more, than that CBO report predicted, I'll be happy to take a look at your work.

 

[Dad2three]

GOP has blocked EVERYTHING in the Senate without a super majority for the Dems....

Bush and Reagan never had a super majority. I thought Obama was smarter than both?

Weird, So GDP fell?

It is kinda weird, considering the huge jump in debt over the last 5 1/2 years and the smartest President ever, with all his new regulations and his phone and his pen, working from the golf course to get us back on course.

Got it, Yoou'll stick with false premises, distortions and lies, the ONLY thing consdervatives EVER have

But you are saying the Dems worked with Ronnie/Dubya?

Please show which parts of my statements were false premises, which were distortions and which were lies.

But you are saying the Dems worked with Ronnie/Dubya?

Reagan passed his tax cuts with no Dem votes?
Expanded the military with no Dem votes?

What do you post that ISN'T a false premise, distortion or lie?

Yep, shows how extreme GOPers have become right?

 

[Toddsterpatriot]

Got it, Yoou'll stick with false premises, distortions and lies, the ONLY thing consdervatives EVER have

But you are saying the Dems worked with Ronnie/Dubya?

Please show which parts of my statements were false premises, which were distortions and which were lies.

But you are saying the Dems worked with Ronnie/Dubya?

Reagan passed his tax cuts with no Dem votes?
Expanded the military with no Dem votes?

What do you post that ISN'T a false premise, distortion or lie?

Yep, shows how extreme GOPers have become right?

Please show which parts of my statements were false premises, which were distortions and which were lies.

Or run away. LOL!

 

[Dad2three]

The claim is he DID cut spending, from what was GOING to happen

Don't understand your own link? LOL!

That was an estimate for what spending would be based on what spending would be.
Because it was published in 1994. LOL!

Clinton knew that we had to cut spending and increase revenues.

Well, he raised tax rates and increased spending.

the Republicans gained complete control in 2001

The Democrats gained complete control in 2009

The report begins with an introductory chapter that provides general background information on CBO's latest deficit projections and reviews the actions taken in the 1990 and 1993 deficit reduction efforts.


The economic assumptions and baseline budget projections underlying the estimates of spending reductions and
revenue increases contained in this volume are described in more detail in the first volume of CBO's annual report,
The Economic and Budget Outlook: Fiscal Years 1995-1999 (January1994).

http://www.cbo.gov/sites/default/fi...104xx/doc10415/1994_03_reducingthedeficit.pdf

The economic assumptions and baseline budget projections underlying the estimates of spending reductions

Assumptions, projections and estimates. If you want to go back and show that Clinton actually reduced spending by as much, or more, than that CBO report predicted, I'll be happy to take a look at your work.

Simple, look at the 4 balanced budgets he had

Government spending has declined from 22.2 percent of the economy in 1992 to 18.7 percent of the economy in 1999 -- the lowest share since 1966

http://archive.hhs.gov/news/press/2000pres/20000207.html


REMEMBER RONNIE INCREASED SPENDING, ANYWAY YOU MEASURE IT?

 

[Dad2three]

Please show which parts of my statements were false premises, which were distortions and which were lies.

But you are saying the Dems worked with Ronnie/Dubya?

Reagan passed his tax cuts with no Dem votes?
Expanded the military with no Dem votes?

What do you post that ISN'T a false premise, distortion or lie?

Yep, shows how extreme GOPers have become right?

Please show which parts of my statements were false premises, which were distortions and which were lies.

Or run away. LOL!

Sorry, Don't have all day, I'll go with Dems/F/F for $400 Alex...

 

[Toddsterpatriot]

The report begins with an introductory chapter that provides general background information on CBO's latest deficit projections and reviews the actions taken in the 1990 and 1993 deficit reduction efforts.


The economic assumptions and baseline budget projections underlying the estimates of spending reductions and
revenue increases contained in this volume are described in more detail in the first volume of CBO's annual report,
The Economic and Budget Outlook: Fiscal Years 1995-1999 (January1994).

http://www.cbo.gov/sites/default/fi...104xx/doc10415/1994_03_reducingthedeficit.pdf

The economic assumptions and baseline budget projections underlying the estimates of spending reductions

Assumptions, projections and estimates. If you want to go back and show that Clinton actually reduced spending by as much, or more, than that CBO report predicted, I'll be happy to take a look at your work.

Simple, look at the 4 balanced budgets he had

Government spending has declined from 22.2 percent of the economy in 1992 to 18.7 percent of the economy in 1999 -- the lowest share since 1966

http://archive.hhs.gov/news/press/2000pres/20000207.html


REMEMBER RONNIE INCREASED SPENDING, ANYWAY YOU MEASURE IT?

Simple, look at the 4 balanced budgets he had

Unless that happened while the Dems had control of the House and Senate, you'll have a hard time convincing me his "spending cuts" were the reason.

 

[Toddsterpatriot]

What do you post that ISN'T a false premise, distortion or lie?

Yep, shows how extreme GOPers have become right?

Please show which parts of my statements were false premises, which were distortions and which were lies.

Or run away. LOL!

Sorry, Don't have all day, I'll go with Dems/F/F for $400 Alex...

That's okay, Sir Robin.

Maybe when you get back?

 

[Dad2three]

The economic assumptions and baseline budget projections underlying the estimates of spending reductions

Assumptions, projections and estimates. If you want to go back and show that Clinton actually reduced spending by as much, or more, than that CBO report predicted, I'll be happy to take a look at your work.

Simple, look at the 4 balanced budgets he had

Government spending has declined from 22.2 percent of the economy in 1992 to 18.7 percent of the economy in 1999 -- the lowest share since 1966

http://archive.hhs.gov/news/press/2000pres/20000207.html


REMEMBER RONNIE INCREASED SPENDING, ANYWAY YOU MEASURE IT?

Simple, look at the 4 balanced budgets he had

Unless that happened while the Dems had control of the House and Senate, you'll have a hard time convincing me his "spending cuts" were the reason.

Nah


"The deficit has come down, and I give the Clinton Administration and President Clinton himself a lot of credit for that. [He] did something about it, fast. And I think we are seeing some benefits."
— Paul Volcker, Federal Reserve Board Chairman (1979-1987), in Audacity, Fall 1994

NOTE THE DATE? AFTER 12 YEARS OF GOP INCREASING THE DEBT OVER 500%?


"Clinton’s 1993 budget cuts, which reduced projected red ink by more than $400 billion over five years, sparked a major drop in interest rates that helped boost investment in all the equipment and systems that brought forth the New Age economy of technological innovation and rising productivity."
— Business Week, May 19, 1997



Who Created The 1990s Surplus, Clinton Or The GOP? (AFTER CLINTON VETOED THE GOP TAX CUTS AFTER HIS FIRST SURPLUS)



In 1993, Congress passed and President Clinton signed a half-billion deficit reduction package, one that included a boost in upper income tax rates to 39.6%. When Clinton's 1993 economic program scraped by without capturing the support of even one GOP lawmaker, the New York Times remarked:

Historians believe that no other important legislation, at least since World War II, has been enacted without at least one vote in either house from each major party.

Inheriting massive budget deficits and unemployment topping 7% from Bush the Elder, Clinton's $496 billion program was nonetheless opposed by every single member of the GOP, as well as defectors from his own party. As the Times recounted, it took a tie-breaking vote from Vice President Al Gore to earn victory:

An identical version of the $496 billion deficit-cutting measure was approved Thursday night by the House, 218 to 216. The Senate was divided 50 to 50 before Mr. Gore voted. Since tie votes in the House mean defeat, the bill would have failed if even one representative or one senator who voted with the President had switched sides.

The rest, as they say, is history.

Republicans Claim Credit For Clinton Surpluses | Crooks and Liars