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Always a good reminder -- Who increased the debt?

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FourScore Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-11 01:03 PM
Original message
Always a good reminder -- Who increased the debt?
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KansDem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-11 01:12 PM
Response to Original message
1. The "Big Three"
It's amazing how GOPers still whine about "liberals" and Big Government running up the national debt...
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Southerner Donating Member (57 posts) Send PM | Profile | Ignore Wed Sep-28-11 01:13 PM
Response to Original message
2. Can we see this chart redone comparing apples to apples?
What was the percentage increase for only the first two years of each adminstration?
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-11 01:18 PM
Response to Reply #2
4. If that were the case...
Bill Clinton left Bush with a balanced budget. It's what you start with that important. Do you increase or decrease that amount? Obama was left with a deficit of $1.2 trillion dollars to start with. It would not be fair or accurate to attribute that increase in the debt to him.
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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-11 02:07 PM
Response to Reply #2
6. Wouldn't do much since the first year a President is in office he's running on the budget of his
Edited on Wed Sep-28-11 02:08 PM by sinkingfeeling
predecessor, 1.e., 2009 budget was set by George W. Bush.
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Southerner Donating Member (57 posts) Send PM | Profile | Ignore Thu Sep-29-11 09:57 AM
Response to Reply #6
10. Previous president sets the budget for the first year, but in 2009 it was not followed
According to this:

http://www.gpoaccess.gov/usbudget/fy09/pdf/budget/table...

The 2009 Bush budget had:
2.7 billion in estimated receipts with $3.1 billion in outlays - a $400 billion projected deficit of which there are a hundred online newspaper articles from 2008 that are heavily critical of this.

According to the historical tables in here:

http://www.gpoaccess.gov/usbudget/fy11/hist.html

The actual outlays for 2009 were $3.5 billion and not the $3.1 billion budgeted by Bush. Keep in mind this is just the general budget and does not include TARP, the Stimulus Bill, and the $130 billion or so spent on the wars that year.

I voted for Obama and had high hopes but sorry people, he spent us into the toilet. People here need to stop blaming Bush for the deficit as the numbers only partially agree with that.

I'm eager to see who else will step up to run instead of Obama. I want somebody who will implement progressive ideals but won't bankrupt us in the process.
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-11 01:15 PM
Response to Original message
3. But that is not actually accurate...
Bill Clinton did not increase the deficit any time he was President. He inherited a huge deficit which he gets the blame for but it actually was not his debt. The same goes for Barack Obama. He inherited a deficit of $1.2 trillion dollars from George W Bush. It would not be accurate to say that those numbers were his.
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Obamanaut Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-11 01:47 PM
Response to Original message
5. Should there be photos of Congress included? They write and pass
the spending bills. Don't they? And sometimes even pass a budget rather than using 'continuing resolutions.'
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Contrary1 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-11 02:29 PM
Response to Original message
7. Hell, the Repubs are only upset because they're not doing the spending:
Edited on Wed Sep-28-11 02:30 PM by Contrary1
United States National Debt

An Analysis of the Presidents Who Are Responsible for the Borrowing

"...In 1993 President Clinton inherited the deficit spending problem and did more than just talk about it; he fixed it. In his first two years, with a cooperative Democratic Congress, he set the course for the best economy this country has ever experienced. Then he worked with what could be characterized as the most hostile Congress in history, led by Republicans for the last six years of his administration. Yet, under constant personal attacks from the right, he still managed to get the growth of the debt down to 0.32% (one third of one percent) his last year in office. Had his policies been followed for one more year the debt would have been reduced for the first time since the Kennedy administration. Contrary to the myth fostered by our right-wing friends, under a Democrat, revenue increased and spending decreased.

When President Bush II came into office in 2001 he quickly turned all that progress around. With the help of a Republican controlled Congress he immediately gave a massive tax cut based on a failed economic policy; perhaps an economic fantasy describes it better. The last year Mr. Clinton was in office the nation borrowed 18 billion dollars. The first year Mr. Bush II was in office he had to borrow 133 billion.

The first tax cut Bush pushed through a willing Republican Congress caused an upswing in government borrowing that was supposed to stimulate the economy, but two years later Bush had to push through yet another tax cut. The second tax cut was needed because it was clear that the first one did not work. Economic history tells us the second did not work either. As a result of all his tax cutting with no cutting in spending, in 2003 President Bush set a record for the biggest single yearly dollar increase in debt in the nations history.

He did it again in 2004, increasing the debt more than half a trillion dollars. Since 2003 total borrowing has typically been around $500,000,000,000 per year. Even Mr. Reagan never increased the debt that much in a single year; Mr. Reagans biggest increase was only 282 billion, half of GWBs outrageous spending. As a result of the fact that the debt was already pretty high when Bush II entered office, his annual rate of increase is only averaging 7% per year so far. In 2006 he was holding press conferences bragging that the debt was increasing at the rate of only 300 billion dollars a year, yet in reality it was twice that. Again the facts do not match Neo-Con rhetoric."

Much more at link: http://cedarcomm.com/~stevelm1/usdebt.htm
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MADem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-28-11 02:39 PM
Response to Original message
8. The GOP run up the credit card, the Dems pay it down. Pretty clear who
the responsible adults are....
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IndyPragmatist Donating Member (556 posts) Send PM | Profile | Ignore Wed Sep-28-11 03:18 PM
Response to Original message
9. Lets have fun with graphs














All of these graphs are true, but depending on how you categorize things and how you place them on graphs, you can get a very different idea of who was the big spender.

Moral of the story: don't just look at a graph and draw conclusions. Understand the data that goes into it.
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