Rshermr
VIP Member
[/QUOTE] [/QUOTE]
Oldstyle, the con troll, says:
Strange how a "simpleton food services guy" knows that Bill Clinton didn't turn the National Debt into a surplus...but you don't have a clue! You keep babbling on about wanting to discuss economics, Georgie...but every time you try to do that you say something REALLY stupid like that![/QUOTE]
Not the National Debt, of course, You are picking on my error in wording. Which was my mistake. What I meant to say was that Clinton had a Budget Surplus, which no other president had in the previous 30 years.
So, did Clinton have a budget surplus, or a budget deficit like all the republican presidents for the 1970's until today? Lets look at the record:
The three best charts on how Clinton’s surpluses became Bush and Obama’s deficits
By Ezra Klein September 5, 2012
There's a reason Bill Clinton is on the stage tonight. When he was president, America enjoyed a booming economy and surpluses (here are some charts). Since he left the White House, things haven't been quite as good.
But the story of why they haven't been quite as good is more complicated than "Clinton isn't around now." Here are three of the best analyses of what's happened to the federal budget since 2001. I've included the key paragraph and chart from each of them.
The Pew Fiscal Analysis Initiative: "Between 2001 and 2011, about two-thirds (68 percent) of the $12.7 trillion growth in federal debt has been due to new legislation. Forty percent of this legislative growth was the result of tax cuts enacted after January 2001, and 60 percent resulted from spending increases. Technical and economic revisions combined caused about one quarter (27 percent) of the growth, and changes in other means of financing accounted for 6 percent.
The Center on Budget and Policy Priorities: "If not for the Bush tax cuts, the deficit-financed wars in Iraq and Afghanistan, and the effects of the worst recession since the Great Depression (including the cost of policymakers’ actions to combat it), we would not be facing these huge deficits in the near term. By themselves, in fact, the Bush tax cuts and the wars in Iraq and Afghanistan will account for almost half of the $20 trillion in debt that, under current policies, the nation will owe by 2019. The stimulus law and financial rescues will account for less than 10 percent of the debt at that time."
All of these analyses are using data from the Congressional Budget Office, and all of them are telling the same basic story. But they explain it in slightly different ways.
All agree that the projections in 2001 were simply wrong. They didn't see that the tech bubble was about to pop, and they definitely didn't foresee the economy falling off a cliff in 2008. That alone accounts, in all the papers, for about a quarter of the deterioration.
The place where you see real differences is in how the papers account for the role of legislation and policy in piling up the debt.
The three best charts on how Clinton’s surpluses became Bush and Obama’s deficits
So, there you go, me con troll. An actual impartial source with a link. You don't get to use them because you are trying to prove a lie.
My goodness, Oldstyle. Surpluses by clinton and most of the national debt by REPUBICANS and republican economic policies.
Maybe we should try another impartial source, to make sure you are the liar you appear to be:
In 1998, the United States achieved its first federal budget surplus in three decades (the final two years of Clinton’s presidency also resulted in budget surpluses).
Bill Clinton - U.S. Presidents - HISTORY.com
So the fact that you are just a food services employee does indeed not work well for ypu. And my 45 year old ba in economics did indeed hold up, though that was really very easy.
Lets check the score on proof of statements:
OLDSTYLE
No references, no links
RSHERMR
2 (TWO) references, 2 (TWO) Links
In this debate, Oldstyle looses again, but did waste peoples time with lies.
Oldstyle, the con troll, says:
Strange how a "simpleton food services guy" knows that Bill Clinton didn't turn the National Debt into a surplus...but you don't have a clue! You keep babbling on about wanting to discuss economics, Georgie...but every time you try to do that you say something REALLY stupid like that![/QUOTE]
Not the National Debt, of course, You are picking on my error in wording. Which was my mistake. What I meant to say was that Clinton had a Budget Surplus, which no other president had in the previous 30 years.
So, did Clinton have a budget surplus, or a budget deficit like all the republican presidents for the 1970's until today? Lets look at the record:
The three best charts on how Clinton’s surpluses became Bush and Obama’s deficits
By Ezra Klein September 5, 2012
There's a reason Bill Clinton is on the stage tonight. When he was president, America enjoyed a booming economy and surpluses (here are some charts). Since he left the White House, things haven't been quite as good.
But the story of why they haven't been quite as good is more complicated than "Clinton isn't around now." Here are three of the best analyses of what's happened to the federal budget since 2001. I've included the key paragraph and chart from each of them.
The Pew Fiscal Analysis Initiative: "Between 2001 and 2011, about two-thirds (68 percent) of the $12.7 trillion growth in federal debt has been due to new legislation. Forty percent of this legislative growth was the result of tax cuts enacted after January 2001, and 60 percent resulted from spending increases. Technical and economic revisions combined caused about one quarter (27 percent) of the growth, and changes in other means of financing accounted for 6 percent.
The Center on Budget and Policy Priorities: "If not for the Bush tax cuts, the deficit-financed wars in Iraq and Afghanistan, and the effects of the worst recession since the Great Depression (including the cost of policymakers’ actions to combat it), we would not be facing these huge deficits in the near term. By themselves, in fact, the Bush tax cuts and the wars in Iraq and Afghanistan will account for almost half of the $20 trillion in debt that, under current policies, the nation will owe by 2019. The stimulus law and financial rescues will account for less than 10 percent of the debt at that time."
![Parfait-using-debt-gdp-2001-2019-5-12-11-FINAL-829x1024.jpg](https://img.washingtonpost.com/blogs/ezra-klein/files/2012/09/Parfait-using-debt-gdp-2001-2019-5-12-11-FINAL-829x1024.jpg)
All of these analyses are using data from the Congressional Budget Office, and all of them are telling the same basic story. But they explain it in slightly different ways.
All agree that the projections in 2001 were simply wrong. They didn't see that the tech bubble was about to pop, and they definitely didn't foresee the economy falling off a cliff in 2008. That alone accounts, in all the papers, for about a quarter of the deterioration.
The place where you see real differences is in how the papers account for the role of legislation and policy in piling up the debt.
The three best charts on how Clinton’s surpluses became Bush and Obama’s deficits
So, there you go, me con troll. An actual impartial source with a link. You don't get to use them because you are trying to prove a lie.
My goodness, Oldstyle. Surpluses by clinton and most of the national debt by REPUBICANS and republican economic policies.
Maybe we should try another impartial source, to make sure you are the liar you appear to be:
In 1998, the United States achieved its first federal budget surplus in three decades (the final two years of Clinton’s presidency also resulted in budget surpluses).
Bill Clinton - U.S. Presidents - HISTORY.com
So the fact that you are just a food services employee does indeed not work well for ypu. And my 45 year old ba in economics did indeed hold up, though that was really very easy.
Lets check the score on proof of statements:
OLDSTYLE
No references, no links
RSHERMR
2 (TWO) references, 2 (TWO) Links
In this debate, Oldstyle looses again, but did waste peoples time with lies.
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