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I just remembered how Clinton left Bush a Huge surplus when he left

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babsbunny Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:59 PM
Original message
I just remembered how Clinton left Bush a Huge surplus when he left
Edited on Mon Jan-25-10 06:00 PM by babsbunny
What did Bush leave Obama? I am so sick of these stupid people falling for all of this bullshit! People twisting the truth. Obama inherited this mess!

http://www.nytimes.com/2009/06/10/business/economy/10le...

By DAVID LEONHARDT
Published: June 9, 2009

There are two basic truths about the enormous deficits that the federal government will run in the coming years.

The first is that President Obamas agenda, ambitious as it may be, is responsible for only a sliver of the deficits, despite what many of his Republican critics are saying. The second is that Mr. Obama does not have a realistic plan for eliminating the deficit, despite what his advisers have suggested.
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frazzled Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 06:07 PM
Response to Original message
1. Remember when $230 billion sounded like a HUGE number?
That was the amount of the surplus. And a surplus of any kind is a huge thing.

Now everything is in the trillions, thanks to Bush & Co. I'm glad the article tells the truth about what a small portion of it is due to Obama. But the fact remains: he owns Bush's deficit now, and it's not gonna be pretty trying to fix it.

But he knew that coming in, so I'm not feeling sorry for him.
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Art_from_Ark Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 06:21 PM
Response to Reply #1
3. Remember when Reagan was ragging on Carter
for running an $80 billion deficit? Then Reagan turned around and ran the deficit up to $200 billion in the course of just 2 years.
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zbdent Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 07:48 PM
Response to Reply #3
6. as detailed in "The Triumph of Politics" ...
desperate to try to prove to the world that Reagan's economic plan saved the U.S. from the horrors of Carter's plan, David Stockman actually proved to himself that Carter's plan REDUCED the deficit, whereas Reagan's inflated it ...
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Art_from_Ark Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 07:59 PM
Response to Reply #6
8. They took Stockman "out behind the woodshed" for that conclusion
Edited on Mon Jan-25-10 08:18 PM by Art_from_Ark
and he resigned shortly thereafter.
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zbdent Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-26-10 06:39 AM
Response to Reply #8
13. setting the tone for all those who would speak the truth to
anybody who would care to listen ...
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Art_from_Ark Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-26-10 06:51 AM
Response to Reply #13
14. Just another reason why I despised that SOB
and his screwed up administration
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SlingBlade Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 06:07 PM
Response to Original message
2. Yep. Brain Dead Americans :(
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OnlinePoker Donating Member (837 posts) Send PM | Profile | Ignore Mon Jan-25-10 06:23 PM
Response to Original message
4. During the Clinton administration, public debt went down...total national debt went up
The following article is written by a conservative, but his information is accurate according to the treasury department website.

http://www.craigsteiner.us/articles/16
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hughee99 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 06:28 PM
Response to Original message
5. If I recall, there was a huge "projected" surplus
based on economic projections that turned out to not be that accurate (continuation of the tech bubble, for one), but there was a much smaller real surplus.
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zbdent Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 07:49 PM
Response to Original message
7. these are the same people who after saying
"Clinton caused this economic crash!", now sit there saying "Hey, we have to quit living in the past and get on with 'fixing' this problem."

They're running out of people who will listen to them blame Clinton and Obama for the economic clusterf*ck ...
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BlueJac Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 08:17 PM
Response to Original message
9. Do you remember when Clinton signed NAFTA?.........
he was a jerk! Look at his men working for Obama!!!
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snot Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 08:17 PM
Response to Original message
10. Chart
Edited on Mon Jan-25-10 08:22 PM by snot
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flyarm Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 08:24 PM
Response to Original message
11. is this the new talking point..I have seen this numerous times today..well is it? eom
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Taitertots Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 08:39 PM
Response to Original message
12. He doesn't need to raise it like it was his own
The same thing with Iraq, Afghanistan, and the bailout.

They all go together. Over spending in the military cranks up the deficit. The cranked up deficits leave no room for expanding fiscal policy worsening the depression. The depression means less money for the military, leading to over spending.

We need to end the failed wars. Take the money saved and invest it into America, even if there are deficits. The economy will recover and increased tax base will pay down the deficit.
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