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Flashback - Clinton's 1993 Budget Reconciliation Act cut spending/raised taxes

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banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 01:29 PM
Original message
Flashback - Clinton's 1993 Budget Reconciliation Act cut spending/raised taxes
http://goliath.ecnext.com/coms2/gi_0199-2671462/The-suc...

and passed with ZERO GOP votes (VP Gore had to break a Senate tie).


"The deficit-reduction package proposed a cut of $493 billion over four years, $247 of it coming from spending cuts and $246 billion from tax increases, almost exactly a 1-to-1 ratio."

and

"In the end, Clinton's economic plan emerged victorious, though just barely. The Omnibus Budget Reconciliation Act was approved in August 1993 without a single vote to spare in either chamber: it passed 218-217 in the House and 51-50 in the Senate (with Vice-President Al Gore making the tie-breaking vote). The measure passed without any Republican votes"


EVERY VOTE MATTERS!!!!!
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izquierdista Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 01:32 PM
Response to Original message
1. And immediately the economy fell off the cliff.
I know it did, I read it in Newt's History of the '90s.
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Tennessee Gal Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 01:34 PM
Response to Original message
2. And the Republican responses were:
"The banks will fail. Clinton's plans will only worsen the recession."
--- Dick Armey, Degree in Economics

"Clinton's pie-in-the-sky fantasies will crash our economy."
-- Phil Gramm, Degree in Economics

"A guaranteed disaster, without a doubt."
-- Newt Gingrich


When their predictions turned out to be dead wrong, what did they have to say? They gave Clinton/Gore credit, right? Not a chance!


It was because of Reagan!

"This is Reagan's recovery!"
-- Dick Armey, Degree in Economics

"Reagan laid the groundwork, but Bill Clinton is trying to claim all the credit."
-- Phil Gramm, Degree in Economics

"Bill Clinton did not contribute anything to this recovery."
-- Newt Gringrich


Yes, that is logical, right? Let's see, Reagan had been out of office how long? Only about four or five years, and they totally skipped right over Bush 41 as if he did not exist.

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banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 01:38 PM
Response to Reply #2
3. exactly, Tennessee Gal! Then, as now, the Dems were the practical
adults and the lying-ass GOPigs were childish petulant fools for NOT GETTING THEIR WAY!


Clinton triangulated, took heat from some progressives - but BALANCED the budget in the end.
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banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 03:34 PM
Response to Reply #3
7. edit - placed comment in wrong place
Edited on Fri Jul-29-11 03:36 PM by banned from Kos
my bad.
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Igel Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 03:30 PM
Response to Reply #2
6. It was neither.
The recession was found to have ended (technically) before the 1992 election. Employment was ticking up right on schedule as the stimulus, tax cuts/deficit reduction bills passed, and job numbers were improving nicely when the first stimulus funds billed as necessary to end the recession were being spent.

That's the problem when the lag between the finding that a recession has ended and when popular opinion thinks it's ended is so large--you can drive a year through the middle and not scrape either side.
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banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 03:35 PM
Response to Reply #6
8. How does your comment square with the woefully incorrect GOP
that TG cited? (error of mine at first)
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florida08 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 02:03 PM
Response to Original message
4. yes he did and reformed welfare
Spent less too compared to Bush whose budget blew the hell of the projected surplus because he didn't pay for anything. All those jobs shot to hell by republicans playing fast and loose with regulations and tax cuts. Bush and Cheney's reaction is "so"?
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florida08 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 02:03 PM
Response to Original message
5. K and R
:kick:
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