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Largest Budget Deficit Ever - 7/28/2008 5:14:55 PM
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sylvan
Posts: 122
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I think our government needs another raise! Great job.
Whoever the next President is, they're gonna have a tough job thanks to this administration. I sure do miss the fiscal discipline we had in the 90's.
http://afp.google.com/article/ALeqM5hlERvqX9gO99K_WKAsGeK-bAJMtA
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RE: Largest Budget Deficit Ever - 7/28/2008 5:18:14 PM
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JimboFletch
Posts: 6631
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YAWN...
Just curious, can you name any year the US of A was at war and had a surplus with Dem or Repub at the helm?
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RE: Largest Budget Deficit Ever - 7/28/2008 5:22:23 PM
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rlj
Posts: 2136
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quote:
Just curious, can you name any year the US of A was at war and had a surplus with Dem or Repub at the helm?
The Afghanistan and Iraq wars aren't coming from the normal budget. This doesn't include those wars.
_____________________________
-Roger
This is who I'm voting for. He is from the same party I voted for last time. This is consistent with my belief in the failure of the two party system and my disgust with it.
http://www.baldwin08.com/#
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RE: Largest Budget Deficit Ever - 7/28/2008 6:01:47 PM
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Evangel70
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President Clinton announces another record budget surplus
From CNN White House Correspondent Kelly Wallace
September 27, 2000
WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.
"Eight years ago, our future was at risk," Clinton said Wednesday morning. "Economic growth was low, unemployment was high, interest rates were high, the federal debt had quadrupled in the previous 12 years. When Vice President Gore and I took office, the budget deficit was $290 billion, and it was projected this year the budget deficit would be $455 billion."
Instead, the president explained, the $5.7 trillion national debt has been reduced by $360 billion in the last three years -- $223 billion this year alone. This represents, Clinton said, "the largest one-year debt reduction in the history of the United States."
Link
Who would have thought that the Clinton administration would be seen as "the good ole days" 
_____________________________
May the God who gives endurance and encouragement give you a spirit of unity among yourselves as you follow Christ Jesus, so that with one heart and mouth you may glorify the God and Father of our Lord Jesus Christ.
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RE: Largest Budget Deficit Ever - 7/28/2008 6:04:46 PM
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Jhud
Posts: 7879
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quote:
Who would have thought that the Clinton administration would be seen as "the good ole days"
And who was in control of Congress at that time...hmmmmm
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Jack
It has been said that politics is the second oldest profession. I have learned that it bears a striking resemblance to the first..
- Ronald Reagan
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RE: Largest Budget Deficit Ever - 7/28/2008 6:17:56 PM
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rlj
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quote:
And who was in control of Congress at that time...hmmmmm
A bunch of wolves masquerading as sheep who dropped those costumes soon after Jan. 20th or so of 2001.
_____________________________
-Roger
This is who I'm voting for. He is from the same party I voted for last time. This is consistent with my belief in the failure of the two party system and my disgust with it.
http://www.baldwin08.com/#
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RE: Largest Budget Deficit Ever - 7/28/2008 7:12:02 PM
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bzirk
Posts: 2949
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From: Where the deer and antelope play
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quote:
ORIGINAL: Jhud
quote:
Who would have thought that the Clinton administration would be seen as "the good ole days"
And who was in control of Congress at that time...hmmmmm
You mean when the Republican leaders who had some backbone were in charge? Not to be confused with the Republicans of today.
The debt is outrageous and yet this Democrat congress is passing a housing relief bill. I would laugh if it weren't so serious. "Relief?" Relief to whom? And who is going to pay for this so called "relief?" Yeah, I know it's a rhetorical question for you and me and some others.
For yet others, it's a legitimate question: do you know who is going to pay for this "relief?"
Look in the mirror, my friends.
_____________________________
may the God of hope fill you with all joy and peace in believing, so you will abound in hope by the power of the Holy Spirit. Romans 15:13
Great quote: I just ain't God and don't know it all. -- SonInMe1
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RE: Largest Budget Deficit Ever - 7/29/2008 9:12:26 AM
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kernsfamily
Posts: 1360
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From: Dallas (originally Detroit)
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quote:
ORIGINAL: Jhud
quote:
Who would have thought that the Clinton administration would be seen as "the good ole days"
And who was in control of Congress at that time...hmmmmm
Let's not forget the "internet/tech bubble" that coincidentally happened during their last few years in office. That surge brought in higher than expected revenues, as well.
Plus, note it's FISCAL YEAR budget surpluses......the nation was NOT 'debt free'.....
another thing...this president is fighting a war that the previous administration should have fought....(not to mention cutting way back on necessities like military spending, which, then, had to be ramped up significantly to "catch back up" once the next president got into office)
9/11 sped up the recession that started with the gradual slowing of the economy in March 2000, as the "tech bubble" started to dwindle........
on some of these so-called future "projected" surplus numbers, one has to wonder if those weren't inflated to set the next president up for certain failure.....
all I know is that in 1999/2000 vs. today, personally, Iam much better off financially......I, personally, am debt free, have a significantly higher income, in contrast to the financial struggles I faced then.
just watch out for the tax man if that marxist gets in the white house.
_____________________________
Proud dad of 3 great girls....Erin, Emilie and Elise
Blessed to have all of them in a "totally awesome" public elementary school!
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RE: Largest Budget Deficit Ever - 7/29/2008 3:04:42 PM
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rlj
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quote:
just watch out for the tax man if that marxist gets in the white house.
Yeah. If we get Marxists in the White House we'll have news of bank bailouts every day in the news, we'll get checks in the mails every other year so we can go buy stuff, important staples such as gasoline, food and energy will have their prices skyrocket, people won't make enough money to keep up with the payments on their mortgages since people in Marxist nations don't make much money, they'll fight and slog through wars in the middle east which will precipitate the drop of influence of the country and then they'll make up lame arguments to justify what a great job they're doing ruining the country. Lastly just like those Marxists around the world we won't be able to travel out of our homes without the proper paperwork to show to the authorities at various checkpoints like airports and our borders. I am steaming mad now. :X
quote:
on some of these so-called future "projected" surplus numbers, one has to wonder if those weren't inflated to set the next president up for certain failure.....
I know who was running Congress from 1994 through 2006 and I realize that they would do anything to twist, lie and manipulate numbers any chance they could get. That included the so called surplus years. 
quote:
another thing...this president is fighting a war that the previous administration should have fought....(not to mention cutting way back on necessities like military spending, which, then, had to be ramped up significantly to "catch back up" once the next president got into office)
You do mean the cuts that started when the previous Republican controlled the White House? And if these operations were as important as you say why didn't Dubya order Afghanistan? It is common knowledge that the plan used in Afghanistan initially was drawn up when Clinton was in Office but not carried up. Dubya could have ordered it in January 2001, got that all wise and powerful Republican Congress to go along and then no 9/11. Easier though to blame the other guy I guess. : /
< Message edited by rlj -- 7/29/2008 3:25:43 PM >
_____________________________
-Roger
This is who I'm voting for. He is from the same party I voted for last time. This is consistent with my belief in the failure of the two party system and my disgust with it.
http://www.baldwin08.com/#
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RE: Largest Budget Deficit Ever - 7/29/2008 3:10:56 PM
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HighPlainsDrifter
Posts: 1293
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From: The Great Sioux Empire
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$180 billion of that was sent to every poster's PO box this year. Hope you enjoyed your $600. We could have cut out the middle man, I guess, and just cut the Red Chinese a check.
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Molon Labe
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RE: Largest Budget Deficit Ever - 7/29/2008 3:43:39 PM
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NoShow
Posts: 461
Joined: 5/10/2005
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quote:
ORIGINAL: rlj
quote:
Just curious, can you name any year the US of A was at war and had a surplus with Dem or Repub at the helm?
The Afghanistan and Iraq wars aren't coming from the normal budget. This doesn't include those wars.
And one of the big problems of our country is when the Speaker of the House doesn't even know that:
Likewise, House Speaker Nancy Pelosi criticized what she called unrestrained spending.
"President Bush has mortgaged our future with record deficit spending on the wrong priorities. An unnecessary and extraordinarily costly war in Iraq has turned record surpluses into record deficits...
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RE: Largest Budget Deficit Ever - 7/29/2008 4:36:21 PM
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rlj
Posts: 2136
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quote:
Likewise, House Speaker Nancy Pelosi criticized what she called unrestrained spending.
"President Bush has mortgaged our future with record deficit spending on the wrong priorities. An unnecessary and extraordinarily costly war in Iraq has turned record surpluses into record deficits...
That is quite sad. It is also kind of lame from the perspective that going by nothing but the deficit numbers you get a smaller number than by point out the war costs go right on top of that. So if the number was 480ish Billion you can add in X billion for the wars and get a number that is far above 500 Billion.
It is still quite pathetic no matter which side of the aisle you agree with.
_____________________________
-Roger
This is who I'm voting for. He is from the same party I voted for last time. This is consistent with my belief in the failure of the two party system and my disgust with it.
http://www.baldwin08.com/#
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RE: Largest Budget Deficit Ever - 7/30/2008 11:07:48 AM
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HighPlainsDrifter
Posts: 1293
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quote:
It will be interesting to see how the neocons spin this downward spiral as Obama's fault when he's elected president.
Probably in a similar fashion as the Democrats did when the fallout from the tech bubble burst caused a pretty severe slowdown in the economy back in 2000/2001. Bush was in office a month and a half before I saw Paul Begala on CNN referring to it as "The Bush Recession".
quote:
The Bush administration has trashed the futures of our great-great-great grandchildren. Is there any doubt that his administration will go down as the worst in American history?
Yeah, that's the ticket...yeah...
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Molon Labe
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RE: Largest Budget Deficit Ever - 7/30/2008 12:22:15 PM
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kernsfamily
Posts: 1360
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From: Dallas (originally Detroit)
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quote:
Is there any doubt that his administration will go down as the worst in American history?
that kind of talk is purely political....
those who say that are totally disregarding Jimmy Carter's days......talk about hard times.....what we're going through TODAY (july 30, 2008), is economic prosperity in comparison to those days.....(we did have 6+ years of strong economic growth until the cycle ended late last year, as it ALWAYS does.....but, this being political, most want to sweep that little "inconvenient truth" under the rug and ignore it).....and pretend, and have people think that TODAY'S economy is what we've gone through over the past 8 years.....
_____________________________
Proud dad of 3 great girls....Erin, Emilie and Elise
Blessed to have all of them in a "totally awesome" public elementary school!
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RE: Largest Budget Deficit Ever - 7/30/2008 3:23:23 PM
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rcjames
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You libs had better enjoy where we are at; as if B. Hussein Obama is elected with his promised vote searching spending far far far our spending his tax everyone until they bleed approach; the deficit is only going to get nothing but worse.
Thsnks
RC
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Just a country Preacher's humble opinion
Read the first chapter of my latest book here;
http://www.deliveranceofsara.com
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RE: Largest Budget Deficit Ever - 7/30/2008 7:45:14 PM
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bzirk
Posts: 2949
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From: Where the deer and antelope play
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quote:
ORIGINAL: Evangel70
quote:
those who say that are totally disregarding Jimmy Carter's days......talk about hard times.....what we're going through TODAY (july 30, 2008), is economic prosperity in comparison to those days.....(we did have 6+ years of strong economic growth until the cycle ended late last year, as it ALWAYS does.....but, this being political, most want to sweep that little "inconvenient truth" under the rug and ignore it).....and pretend, and have people think that TODAY'S economy is what we've gone through over the past 8 years.....
Considering I was born in 1970, all I remember about Carter days are Zoom, Speed Racer and Land of the Lost. 
That does explain the viewpoint. LOL!
I'm really not making fun of you, but I did chuckle when I saw your explanation. It totally explains how you can say that. If you had lived through Carter, you would not be so quick to label Bush the worst. Maybe near the worst -- or maybe not. I'm not sure we really know yet. I do know that we have not been attacked since 9/11, Bush has appointed somewhat conservative justices, and capital gains and the death tax were reduced. On those things I can't fault him. But I'm really hot about his spending. From where I'm sitting, he doesn't look that much different from the Democrats when it comes to his spending, i.e, hardly ever met a spending bill they didn't like.
_____________________________
may the God of hope fill you with all joy and peace in believing, so you will abound in hope by the power of the Holy Spirit. Romans 15:13
Great quote: I just ain't God and don't know it all. -- SonInMe1
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RE: Largest Budget Deficit Ever - 7/31/2008 7:56:11 AM
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rlj
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I don't think that this is the worst economy ever but with the impact on the housing market with jobs and the high inflation at least as it pertains to absolute neccessities it could possibly become that. There are too many jobs now (at least in quantity), interest rates are real low, people are still spending but obviously we're buying fewer things since so much that is vital is more costly. This isn't the worst though. Besides the late 70s with Carter the first half of Reagan's first term was pretty dismal. I would never compare this to the Depression either.
_____________________________
-Roger
This is who I'm voting for. He is from the same party I voted for last time. This is consistent with my belief in the failure of the two party system and my disgust with it.
http://www.baldwin08.com/#
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