Just a reminder of how the deficit got so big

JimH52

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http://www.nytimes.com/2011/07/24/opinion/sunday/24sun4.html?_r=0

With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here — from healthy surpluses at the end of the Clinton era, and the promise of future surpluses, to nine straight years of deficits, including the $1.3 trillion shortfall in 2010. The answer is largely the Bush-era tax cuts, war spending in Iraq and Afghanistan, and recessions.
 

Wacky Quacky

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What a piece of shit article. Some of it is right, such as the wars and the tax cuts adding a lot to our debt, but almost everything else is blatant left wing bias.

Clinton had a PROJECTED surplus. One that was largely based off of the Dot Com bubble. And if there's one thing that you can almost always bet on, it's that government projections won't be anywhere near what they say it will be. Bush didn't spend a surplus, the surplus never happened because the Dot Com bubble burst.

The writer also alludes that no domestic spending led to our deficits, and that it was almost entirely due to defense spending and tax cuts. As I said before, the wars and the tax cuts definitely hurt our debt by a large amount, but to leave out our domestic spending problems is horribly disengenuous.
 

Toddsterpatriot

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http://www.nytimes.com/2011/07/24/opinion/sunday/24sun4.html?_r=0

With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here — from healthy surpluses at the end of the Clinton era, and the promise of future surpluses, to nine straight years of deficits, including the $1.3 trillion shortfall in 2010. The answer is largely the Bush-era tax cuts, war spending in Iraq and Afghanistan, and recessions.
With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here — from healthy surpluses at the end of the Clinton era, and the promise of future surpluses

If we had a few more years of the housing bubble, along with responsible spenders in Congress (which Clinton had, but not Obama or Bush for his last 2 years), we would have have Bush surpluses as well. So what?

We need to cut the size of government, a lot.

The aging and retiring Boomers will only make that more and more difficult.
 
OP
JimH52

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Never before in the history of the US has a tax cut, largely for the wealthy, been enacted while we were at war.....two wars actually. W and the rich man's Republicans in Congress set the country up for a big fall.
 

Moonglow

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Just a reminder of how the deficit got so big
That damn Reagan, look what happened with his lasting economic voo-doo influence in American political greatness. Now the children of that era in 1980-88 are still paying off the debt he left.
 
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Toddsterpatriot

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Just a reminder of how the deficit got so big
That damn Reagan, look what happened with his lasting economic voo-doo influence in American political greatness. Now the children of that era in 1980-88 are still paying of the debt he left.
Reagan was a slacker! Adding $1.6 trillion in debt to win the Cold War while adding 16 million new jobs and boosting the paticipation rate 2.6%.

Obama added that much in this first 18 months, while losing millions of jobs and apologizing around the world.

He did win the Nobel Peace Prize for something........
 

Moonglow

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Just a reminder of how the deficit got so big
That damn Reagan, look what happened with his lasting economic voo-doo influence in American political greatness. Now the children of that era in 1980-88 are still paying of the debt he left.
Reagan was a slacker! Adding $1.6 trillion in debt to win the Cold War while adding 16 million new jobs and boosting the paticipation rate 2.6%.

Obama added that much in this first 18 months, while losing millions of jobs and apologizing around the world.

He did win the Nobel Peace Prize for something........
Nobel Peace Prize, it's rigged.
 

freedombecki

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http://www.nytimes.com/2011/07/24/opinion/sunday/24sun4.html?_r=0

With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here — from healthy surpluses at the end of the Clinton era, and the promise of future surpluses, to nine straight years of deficits, including the $1.3 trillion shortfall in 2010. The answer is largely the Bush-era tax cuts, war spending in Iraq and Afghanistan, and recessions.
With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here — from healthy surpluses at the end of the Clinton era, and the promise of future surpluses

If we had a few more years of the housing bubble, along with responsible spenders in Congress (which Clinton had, but not Obama or Bush for his last 2 years), we would have have Bush surpluses as well. So what?

We need to cut the size of government, a lot.

The aging and retiring Boomers will only make that more and more difficult.
That's because the government took the interest earned from Social Security payments and spent it on things to get themselves re-elected. They stiffed the taxpayers by pickpocketing our interest from Social Security, which is why their rating is in the units instead of the teens. How can they possibly pass the highest taxes in history for Obamacare with that kind of history of heisting America's old age security for funding their friends' businesses?

It's like stealing except they didn't go to jail for it, and everybody knew about it who was paying attention. The press allowed them to do it. You know, the press who used to be the friend of the common man. :evil:

Correct me if I'm wrong, because I'm working from hearsay on how interest on participating Taxpayers' Social Security money became fair game for Congressional spending.
 

iamwhatiseem

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Boooooooosh...Republicans....Boooooooosh.....Obstructionist.........Boooooosh.
On the other side. Obama...Obama.....Obama...Obama.....Obama...Obama.....Obama...Obama.....Obama...Obama.....Obama...Obama.....
And this is why nothing changes. Or will change
 

Avorysuds

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No one is buying this crap anymore, why do you guys keep posting it? Your party lost 1 million voters last election, you might want to change your tune.
 

Freemason9

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Just a reminder of how the deficit got so big
That damn Reagan, look what happened with his lasting economic voo-doo influence in American political greatness. Now the children of that era in 1980-88 are still paying of the debt he left.
Reagan was a slacker! Adding $1.6 trillion in debt to win the Cold War while adding 16 million new jobs and boosting the paticipation rate 2.6%.

Obama added that much in this first 18 months, while losing millions of jobs and apologizing around the world.

He did win the Nobel Peace Prize for something........
Reagan also crashed an economic recovery right after he got in office. Did you know that?
 

Toddsterpatriot

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That damn Reagan, look what happened with his lasting economic voo-doo influence in American political greatness. Now the children of that era in 1980-88 are still paying of the debt he left.
Reagan was a slacker! Adding $1.6 trillion in debt to win the Cold War while adding 16 million new jobs and boosting the paticipation rate 2.6%.

Obama added that much in this first 18 months, while losing millions of jobs and apologizing around the world.

He did win the Nobel Peace Prize for something........
Reagan also crashed an economic recovery right after he got in office. Did you know that?
It's not easy stopping double digit inflation. Did you know that?
 

edthecynic

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What a piece of shit article. Some of it is right, such as the wars and the tax cuts adding a lot to our debt, but almost everything else is blatant left wing bias.

Clinton had a PROJECTED surplus. One that was largely based off of the Dot Com bubble. And if there's one thing that you can almost always bet on, it's that government projections won't be anywhere near what they say it will be. Bush didn't spend a surplus, the surplus never happened because the Dot Com bubble burst.

The writer also alludes that no domestic spending led to our deficits, and that it was almost entirely due to defense spending and tax cuts. As I said before, the wars and the tax cuts definitely hurt our debt by a large amount, but to leave out our domestic spending problems is horribly disengenuous.
Clinton had a REAL Social Security Surplus, Bush pissed away that REAL Social Security Surplus.
 

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