Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

"America’s finances were in great shape by the year 2000."

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
 
moondust Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-13-11 11:53 PM
Original message
"America’s finances were in great shape by the year 2000."
"(In the 1990s) We went from deficit to surplus. America was actually on track to becoming completely debt-free, and we were prepared for the retirement of the Baby Boomers.

But after Democrats and Republicans committed to fiscal discipline during the 1990s, we lost our way in the decade that followed.
We increased spending dramatically for two wars and an expensive prescription drug program – but we didn’t pay for any of this new spending. Instead, we made the problem worse with trillions of dollars in unpaid-for tax cuts – tax cuts that went to every millionaire and billionaire in the country; tax cuts that will force us to borrow an average of $500 billion every year over the next decade."


An important reminder that the U.S. was on solid ground fiscally when Bill Clinton left office, and then kablooey!
Printer Friendly | Permalink |  | Top
upi402 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 01:12 AM
Response to Original message
1. Reagan took us from biggest lender to biggest debtor. Dems need to say that
and the media needs to stop the BS firehose. Dems put us in the black and the chickenhawks put us further into the red.

Stupid should hurt.
Printer Friendly | Permalink |  | Top
 
notesdev Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 02:05 AM
Response to Reply #1
2. Nixon is the culprit
By taking us off the gold standard, he removed the hard limit to monetary expansion and we have been living on the front side of a debt bubble ever since. What you are seeing happening now is that bubble bursting, which portends a generation of living on the back side of the debt bubble. Count on a far lower standard of living than what you have been accustomed to.
Printer Friendly | Permalink |  | Top
 
bemildred Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 07:07 AM
Response to Reply #2
3. Nixon made it possible, Raygun did the deed.
Although realistically, I think one has to blame the Congress which let Raygun have his way with them, and the voting public which put them in office.
Printer Friendly | Permalink |  | Top
 
JuniperLea Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-14-11 05:23 PM
Response to Original message
4. This OP makes me very happy for the ignore function...
I'm agreeing with the only person I can see :)
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Thu Oct 30th 2014, 11:25 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC