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actually yes it is. Anytime you increase the debt while the country is doing great is 100X worse. In fact increasing the debt when we're having a bad time is a GOOD thing to do. Theres a ton of economics behind this idea.
When the economy is doing good-thats when you pay down your debt, not spend like a drunken sailor for the business buddies.
Then why did Clinton cutting the debt during a recession create economic prosperity.
Here is where you kooks go wrong with your theories.. MONEY MUST COME OUT OF THE ECONOMY IN ORDER FOR THE GOVERNMENT TO SPEND it..
You cant improve the economy while increasing debt because you are removing money out of the economy in order to put it back in..
As noted it was the marginal rate. Not the effective rate. There were ways to lower the marginal rate and guess what during that time the ways to do so meant that the wealthy didn't horde their wealth and invested it in factories, hiring people etc. Not buying yachts or putting it in a swiss bank account.
How can one buy a yacht and not create jobs? Does the magic yacht ferry come down and poof here it goes?
And how does a swiss bank earn money off that money if not reloaning it out to the economy? Ok, I'll argue that it might not create jobs here, but the big crybaby left wing crap about putting money in banks is pretty dumb.
I've read all of the babble from the left about the Clinton imaginary surpluses.. but every single one of them ONLY looks at public debt and ignores intragovernmental debt.
If you think Clinton had surpluses, please take it up with the US Treasury Department because they show the debt increasing every single year under Clinton..
Surely the Treasury Department has a better grasp on the debt than an unknown poster on a forum titled d from birmingham...
The July 8, 2009 report showed that, across the United States, as of June 19, 2009, Treasury had outlayed about $29 billion of the estimated $49 billion in Recovery Act funds projected for use in states and localities in fiscal year 2009.
$29 billion saved the economy but $85 billion was going to crash the economy and bring on the Rapture!
You should really start questioning where you're getting your data and talking points from, they're using use as a tool and, as Stalin would say, a useful idiot.
The recession in 2001 started in March two months after he left office. It lasted eight months.
btw, even if what you say is true (and its not).. Wouldnt this mean that if you are blaming Bush for the responsibility of the recession since he was in office, that also means Obama is responsible for the failure and deficits of his first year, and you blaming Bush is garbage..
I've read all of the babble from the left about the Clinton imaginary surpluses.. but every single one of them ONLY looks at public debt and ignores intragovernmental debt.
If you think Clinton had surpluses, please take it up with the US Treasury Department because they show the debt increasing every single year under Clinton..
Surely the Treasury Department has a better grasp on the debt than an unknown poster on a forum titled d from birmingham...
Yeah when you actually do a search through the data you see the words not available . I am speaking of The Daily History of the Debt Results
1998, 1999, 2000, and 2001 were indeed federal budget surpluses that reduced the debt. Guess what it was estimated that by 2014 the US debt would have been eliminated. George W Bush said the surpluses were bad and that deficits didn't matter and that we should have debt.
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