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So the Dems are "less bad" ? Is that what you are alluding to ?
What part of Clinton having the annual budget balanced for three years and leaving a scenario by which the entire national debt would have been paid off by 2012 and George Bush coming in, cutting taxes twice in 2001 and 2003 and proceeding to borrow trillions from foreign banks to fund it...is it you don't understand??
The total debt went up $1.4 trillion under Clinton, $3 trillion under Reagan/Bush41 and $6 trillion under George Bush.
Why would you merge Reagan/Bush41 together? Only a partisan hack would pretend that 12 years = 8 years. Seriously, do you think we are that foolish to fall for that bs? You might be, but I know that they are not the same.. And clearly no one defended the $6T under George Bush either, so whats your point other than to deflect from the current president who's added that in 2 years, and to display the fact that you dont understand that CONGRESS controls the budgets.
Do you really want to discuss the debt climbing $4.5T since Democrats have taken over Congress in 2007 to now? No of course not.. you want to deflect to tje 1980's.. Spare me the bs..
I dont find facts annoying, I find them quit embarassing to individuals like you who dont understand basic math...
From your quote 09/30/1999 $5,656,270,901,615.43(First Surplus Generated...On Track To Pay Off Debt By 2012)
If there was a surplus, then why did debt go UP? How do pay off the debt by creating more debt? I want some serious answers here if you are going to be taken seriously..
Last edited by Green Irish Eyes; 12-26-2010 at 04:24 PM..
Reason: Edited quoted text
What part of Clinton having the annual budget balanced for three years and leaving a scenario by which the entire national debt would have been paid off by 2012 and George Bush coming in, cutting taxes twice in 2001 and 2003 and proceeding to borrow trillions from foreign banks to fund it...is it you don't understand??
I can see why you're so happy.
CLINTON DID NOT HAVE A BALANCED BUDGET FOR THREE YEARS.. Stop the lies.. The deficit climbed YEARLY under his term..
Clinton BORROWED money to add to the general fund and then ignored the fact that he BORROWED, adding to the deficit to equate it = balanced. Thats silly and something only a fool could pretend ented up as a surplus. This is like you borrowing $100K against your paid off home and then claiming that at the end of the year you had a surplus because you had $100K sitting in the bank when all you did was move the funds from journal A (i.e. equity in the home) to B.. i.e. cash in the bank.
That does not equal BALANCED budgets.. stop repeating the same old bs you are being told without thinking about it.. If he had a balanced budget, the debt would have gone DOWN.. Not up.. again, look at the trasury website and verify that it went up EVERY SINGLE YEAR. You cant borrow money increasing the debt and then claim you've paid down debt
What part of Clinton having the annual budget balanced for three years and leaving a scenario by which the entire national debt would have been paid off by 2012 and George Bush coming in, cutting taxes twice in 2001 and 2003 and proceeding to borrow trillions from foreign banks to fund it...is it you don't understand??
I can see why you're so happy.
I don't dwell in the past trying to lay blame on any one party.
We are where we are. Saying "well your guy did it" doesn't make the debt any less than what it is today.
Crying over spilled milk won't get us out of debt.
All I see is talk going on in DC but nothing on paper to pass.
You are not taking into account the mortgage crisis which would have happened no matter who was in office in 2006/2007.
The Glass-Steagall repeal opened the door to some fancy, underhanded financial policies which lead to the Great Depression.
Pandora's Box got closed with Glass-Steagall and reopened with it's repeal.
Clinton BORROWED money to add to the general fund and then ignored the fact that he BORROWED, adding to the deficit to equate it = balanced. Thats silly and something only a fool could pretend ented up as a surplus. This is like you borrowing $100K against your paid off home and then claiming that at the end of the year you had a surplus because you had $100K sitting in the bank when all you did was move the funds from journal A (i.e. equity in the home) to B.. i.e. cash in the bank.
That does not equal BALANCED budgets.. stop repeating the same old bs you are being told without thinking about it.. If he had a balanced budget, the debt would have gone DOWN.. Not up.. again, look at the trasury website and verify that it went up EVERY SINGLE YEAR. You cant borrow money increasing the debt and then claim you've paid down debt
FY's 1998/99 and 2000 did indeed take in more than they spent.
"Democrats and Republicans sparred Saturday over projections for this year's expected surplus, arguing whether the lowered estimates announced this week threaten government programs and weaken the budget.
The White House said Wednesday the surplus estimate for fiscal year 2001, which ends September 30, had shrunk to about $158 billion. That is more than 40 percent lower than the $281 billion projected by the Office of Management and Budget (OMB) in April.
President Bush, in his weekly radio address, blamed the smaller estimate on a weaker economy but said the federal budget remains "strong, healthy, and in balance.""
Last edited by Melvin.George; 12-26-2010 at 02:49 PM..
Deficits dont matter if the result of those deficits are economic growth..
For example..
I'm planning on purchasing a new printer next year. The printer will cost me $125,000, which means next year if my businesses have $0 profit, which they usually do, I'll run a $125,000 deficit..
But if I buy that printer and it results in me being able to increase my revenues by $1,000,000 a year, and it increases my profits by $100,000 a year.. according to your argument, its "bad".. But the economics indicate otherwise.. I'll run deficits forever, doesnt matter.. as long as the result is growth.. See the difference?
Business and government are totally different animals. No business could survive the insane financial shell games and Ponzi scams played by government. The business owners would be in jail.
An example about a business buying "means of production" that could be used to increase business sales, has nothing to do with government. Government does nothing but confiscate money as it flows through the economy, and then gives it away to various special interest groups that promise the most payback to each politician.
Of course, even a business is limited by the fact that it must have a demand, and those with money who are willing to hand it over to meet the demand. It doesn't do me any good to invest a million dollars in a machine that makes shoes, simply because I sold 50 shoes last year and made a small profit. Is there a market to buy 100,000 shoes of that type? If not, your million dollar investment could very well destroy your company if you don't sell enough shoes to pay back loan every month.
Every sane person knows that government cannot simply keep printing money and borrowing from itself in crazy shell games. The rest of the world won't lend us money anymore since they know we'll either default or reduce the dollar to worthlessness, so now we buy our own debt (like me writing myself an IOU for every dollar I spend). These shell games, like the one with Social Security where they stole the Trust Fund excess taxes and spent it and replaced it with worthless IOUS--eventually hit a wall. At some point, the Baby Boom starts retiring en mass, and all of a sudden government officials must explain that the $2.5 trillion dollar Social Security Fund is WORTHLESS. To meet current obligations, we must now either raise taxes or cut spending elsewhere.
The government gets to play illegal games no person or business could. But even the person who kept getting more credit cards, maxing them out, and paying the minimum, can't do this forever. It's a shell game. And when our government on every level has spent all the money it confiscated, then printed twice as much, and borrowed twice that, and spent it all--there simply has to be a day of reckoning.
Someday all the Baby Boomers will be retired, and the national debt will be many multiples of GNP, and what shell games can the politicians play then?
Let me guess: sorry, we can't afford to give you anything back in return for the hundreds of thousands we took from your pay. The economy has no jobs, and they pay crap, so we can't tax them anymore. So tough. You're used to being robbed blind anyway.
The upper classes think they can rob the wealth of a nation and generations of Americans and continue to thrive because they are innately better than the rest of us. Of course, many groups of aristocrats have thought that over the course of history, and we do know sometimes the citizens will get angry when they work their whole lives and have nothing to show for it--like my generation. I'm not sure just how valuable those mansions will be when 100,000 very angry people who have been robbed of everything show up at the gates with guns. The political class will be having us pay for their military protection, of course, but I hope some of those guys can step outside their massive brainwashing. After all, they will be protecting the thieves that stole their futures, and their parent lifetime of work.
Someday all the Baby Boomers will be retired, and the national debt will be many multiples of GNP, and what shell games can the politicians play then?.
That "someday" starts next year as the first of the boomers turn 65.
The rate is about 7000 per day will turn 65 and qualify for SS.
How many will apply though is the 65K question.....
The upper classes think they can rob the wealth of a nation and generations of Americans and continue to thrive because they are innately better than the rest of us. Of course, many groups of aristocrats have thought that over the course of history, and we do know sometimes the citizens will get angry when they work their whole lives and have nothing to show for it--like my generation. I'm not sure just how valuable those mansions will be when 100,000 very angry people who have been robbed of everything show up at the gates with guns. The political class will be having us pay for their military protection, of course, but I hope some of those guys can step outside their massive brainwashing. After all, they will be protecting the thieves that stole their futures, and their parent lifetime of work.
The sad thing is that they are smart enough to continually come up with scemes and scams and through taxation, company relocation, tariffs, use of local taxes, layoffs, recessions etc. they constantly reep the whirlwind. A working man has about as much to say concerning his career of forty years as a bullfrog does about aviation. Whoever said "Money Talks and BS Walks" was a wise man.
The sad thing is that they are smart enough to continually come up with scemes and scams and through taxation, company relocation, tariffs, use of local taxes, layoffs, recessions etc. they constantly reep the whirlwind. A working man has about as much to say concerning his career of forty years as a bullfrog does about aviation. Whoever said "Money Talks and BS Walks" was a wise man.
When you choose to work for someone else, it's that someone else that gets to make all the decisions, not you. You can either stay and put up with it or leave and look for another job.
Or you can become your own boss and then you get to make the decisions.
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