ShaklesOfBigGov
Restore the Republic
Many presidents have had to deal with wars, hurricanes and recessions, but only one president has inherited a budget surplus and then went on to run up the largest federal debt/GDP ratio since WW2!5% UE
deficits in the 100 billions with 2 war, 7 major hurricanes, 2 recessions and 9-11
won Iraq
removed Saddam
And the left wing media still are trying to claim GWB was one of the worst. What does this make BHO?
Seriously
GWB inherited a federal debt/GDP ratio of 56.4% in 2001 (largely due to the spending of the Reagan and GHW Bush Administrations) and left with a debt/GDP ratio of 64.2% - up 27.8%
National debt by U.S. presidential terms - Wikipedia, the free encyclopedia
The closest the United States had to a surplus was back in 1835 with $33,733
http://www.theprivateer.com/usdebt/from1791.html
There even was a time when the U.S. made it a deliberate policy to pay off the national debt entirely -- and succeeded in doing so. It remains to this day the only time in history a major country has been debt free. Ironically, the president who achieved this was the founder of the modern Democratic Party, Andrew Jackson.
Jackson was a Jeffersonian through and through. The smaller the federal government, the more he liked it. And, like Jefferson, he hated banks, speculation and the "money interest." Unlike Jefferson, however, he was born poor and made his own fortune. An early personal encounter with debt had taught him to fear it. When the notes of someone who had bought land from him proved worthless, he became liable for the debts he had secured with those notes, and it took him years to pay them off.
When he ran for president the first time, in 1824, Jackson called the debt a "national curse." He vowed to "pay the national debt, to prevent a monied aristocracy from growing up around our administration that must bend to its views, and ultimately destroy the liberty of our country."
At the end of 1834, Jackson reported in the State of the Union message that the country would be debt free as of Jan. 1, 1835, with a Treasury balance of $440,000. Government revenues that year would be twice expenses.
John Steele Gordon Provides a Short History on the National Debt - WSJ.com
If you thought we had a surplus under Clinton, I'd go back and research those allegations. The United States Federal Goverenment carried a debt throughout Clinton's Presidency.
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