Every President, from Truman to Carter, steadily paid down the staggering debt that was run up in our fight against Nazi Germany and Imperial Japan. That pattern came to a screeching halt with Reagan/Bush and Bush. Clinton’s fiscal policy was a brief respite during this orgy of deficit spending.
Clinton's economic policies balanced 5 budgets, which is 5 more balanced budgets than the last 5 Republican presidents combined.
President Obama, like President Clinton, inherited a sea of red ink and a recession from his predecessor. He, like President Clinton, recognizes the importance of getting America back to work and then getting our fiscal house in order.
*updated 9/8/2016
See National Debt Graph @: http://zfacts.com/p/318.html
See Yearly Deficits: http://www.cbo.gov/ftpdocs/108xx/doc10871/HistoricalTables.pdf
Congress did not create the $13.5 trillion of debt under Reagan/Bush/Bush: http://zfacts.com/p/57.html
WHO ARE THE BIG SPENDERS? Answer: Reagan, the Bush's, Nixon and Ford.
Here's another look at the increase in Federal spending but ranked by "annualized" or cumulative totals instead of per-capita as above.
AND WHERE IS PRESIDENT OBAMA"S ECONOMIC PLAN LEADING?
source: http://motherjones.com/kevin-drum/2012/03/balancing-budget-obama-way
The above graph charts the national debt to GPD ratio, the only true way to compare debt across the years and from one president to another. The closer to zero the closer to a balanced budget we get.
Take special note that the last time a budget was in surplus was under Wild Bill Clinton. President Obama, climbing out of a far deeper economic hole, is repeating the same pattern as President Clinton, the most fiscally successful president of the last 60 years.
This is yet another reminder if we want to avoid the pain of economic FUBAR we need to quit electing the stumble bums that cause it. Namely Republicans.
See: http://bureaucountydems.blogspot.com/p/history-of-recessions.html
WHY DO REPUBLICAN ECONOMIC PRINCIPLES EXPAND THE NATIONAL DEBT?
-The answer is simple mathematics. Reduced revenue + increased spending ='s increased debt-
(click to enlarge)
http://cedarcomm.com/~stevelm1/usdebt.htmThe two biggest promises of "Trickle Down Economics" are it's greatest failings. Proponents of "Trickle Down Economics” claim that tax cuts, skewed to the rich, will create jobs and increase tax revenues. The graph above disproves the latter claim.
Job creation plummets under "Trickle Down Economics see: http://bureaucountydems.blogspot.com/p/job-growth.html
And 9 of the last 10 recessions have occurred under Republican leadership.
see: http://bureaucountydems.blogspot.com/p/history-of-recessions.html
Two things are certain to grow when a Republican is in the White House, unemployment and the National Debt.
By contrast, "Bubble Up" economic principles practiced by Democratic Administrations put people to work, rev up the economy, and balance the Nation's ledger books. Every time. No exceptions.
There Is Perhaps No Better Source Than The Following Video To Understand How Credit Card Republicanism Has EXPLODED the National Debt. Watch it. Forward it. Spread the word.
http://www.youtube.com/watch?v=P1bZ-TiX8rA
Republican Candidates Propose Even Greater Debt, -and hope you don't notice-
source: http://www.theatlantic.com/business/archive/2012/02/the-big-deficit-lie-every-gop-debt-plan-leaves-us-with-more-debt/253501/
http://bureaucountydems.blogspot.com/2012/02/republican-candidates-propose-even.html
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Debunking the Republican Talking Point of Blaming Democrat Control of the House For the National Debt
-When Republicans blame Democrats for their economic incompetence it sounds like bullshit because it is bullshit-
by mike kohr 4/4/2012
by mike kohr 4/4/2012
1). 1915-1919, Democrat House and President, Cause: WW I
2). 1933-1945, Democrat House and President, Cause: Republican gifted Great Depression & WW II
3). 1981-1993, Democratic House and Republican Presidents, Cause: Trickle Down Economics
4). 2001-2009, Republican House and Republican President, Cause: Trickle Down Economics
5). 2009-2012, R/D House, Democratic President, Cause: Republican gifted Great Recession and Trickle Down Economics.
And Major Declines in National Debt:
1). 1919-1932, Republican House and Republican President, Result: The Great Depression
2). 1946- 1981 Democratic House and D/R Presidents. Result: Greatest pay down of debt in history
3). 1993-2000, D/R House and Democratic President. Result: Greatest economic boom in history
A summary of the evidence is clear: debt is caused NOT just by spending but also by tax and economic policy. Of the 5 spikes in National Debt, 4 have been caused Republican economic policy including nearly all of the most recent increases in National Debt.
Only 1 of the 5 spikes in National Debt occurred for reasons other than Republican economic policy and that was the spike of 1915-1919 caused by WW I.
Republicans are currently trying to deflect blame for the $9.2 trillion in debt ran up by the last 3 Republican presidents by blaming Democratic controlled House of Representatives. The record of the last 100 years shows clearly that the single biggest pay down of National Debt occurred under the longest control of the House by Democrats in history, 1945-1981 and that steady record of fiscal responsibility was broken by the advent of Reagan's budget busting Trickle Down Economic tax give-a-ways to the rich. When Republicans blame Democrats for their economic incompetence it sounds like bullshit because it is bullshit.
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Below is a chart that tracks cumulative debt by president. It should be noted that the most accurate method is the debt to GDP ratio (See chart at top of this page) as that accounts for inflation and the growing size of the economy. That stated this is an eye opening, interesting and informative piece of information.
http://maddowblog.msnbc.msn.com/_news/2010/09/20/5145120-chart-national-debt-by-presidentDon’t Buy The GOP Hype On Obama Budget Deficits
Republicans have taken to describing President Obama’s budget as “deficits built to last” — a play on Obama’s call for an economy built to last. The implication: hand the government over to us, and we’ll rid the budget of this deficit scourge. Put aside for a moment that wiping out deficits too fast would be economically disastrous, leading to rocketing unemployment rates. The truth is there are plenty of budget proposals out there, including Paul Ryan’s “Path To Prosperity,” which was endorsed by nearly every Republican in Congress. And these also project significant deficits well into the future.
Of course, Obama’s budget is very substantively different from Paul Ryan’s Path to Prosperity. Obama’s would draw down deficits over the coming decade with a mix of proposed tax increases on high income earners and corporations, already enacted spending cuts, and additional cuts to health care spending and other programs. But it maintains the basic shape of the existing safety net over the long term. Ryan’s calls for huge cuts to the safety net, for making Medicaid a block grant program, and, after a decade, for phasing out Medicare. http://tpmdc.talkingpointsmemo.com/2012/02/chart-dont-buy-gop-hype-on-obama-budget-deficits.php?ref=fpa
Really very interesting and very valuable information about the recover nice work.
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