@parados,
Quote:Arguing the past is a waste of time because you keep getting caught lying about it.
55% GDP is a NEGATIVE in economy. Clinton should have made better.
Look at the chart, from the recession when WW2 ended, with a GDP 116%, the GDP percent started to diminish even with the Korea war and getting lower and lower even with the Vietnam war, plus TWO recessions.
Notice that in 1966 interest rates were rose up to fight recession and caused a very well balanced budget with a GDP in the lower 30% for more than a decade.
Under Carter, the motto was to cause struggles in South America to turn down the socialist governments and billions were spent outside the US to create wars in Central America and create chaos in the South starting with Chile. The mission was accomplished, those countries returned back to "democratic corrupt governments" and the US economy was supposed to grow up again.
Big mistake. The third world countries in a sole decade learned to survive by creating a global economy making trade without intermediaries (US and Europe) and they became more independent while the US started to become dependent of them. The GDP percent started to grow up again indicating a negative path.
Desperation caused Reagan to forget about balancing the budget, and he initiated the fantasy of the "always wealthy US economy" by borrowing here and there.
After Reagan, the following administrations, -including Clinton's- have been doing the same, anything to create a false wealthy at the cost of maintaining a higher national debt.
Everything has been working fine because the dollar is the worldwide currency for trade... until Saddam Hussein intentions of revenge for the war in the 90's, when he later decided not to make trades using the dollar.
He was taken out of power with another war destined to change the whole structure of Iraq and make this country as a headquarter for distribution of more dollars, the opposite of Saddam intentions.
But Russia and China have developed the same plan of Saddam. and this is a greater problem.
I have asked you two questions as if you were Hillary Clinton.
What Hillary will do to stop the rising of the borrowing limit and finally start to balance the budget?
Why Hillary Clinton wants illegal immigrants to become legal residents so they will start to collect social services, due to the fact that illegal residents procreate like rabbits and will play the game of earning cash -never reported to the IRS and collect social services claiming that they have no income?
We are talking of 20 million illegal immigrants, with a possible 50% who will attempt collecting social services, with an average of 4 children per family or "single mother" (because they don't get married, the majority just live together, and the woman collects from social services plus cash income from the boyfriend).
Unless, she is nothing but an "Obama Junior", from whom she will promise an immigration reform and after becoming president she will do nothing like Obama Senior.
Your answers might help to many to decide if voting for Hillary is worthy or not.
Quote:
2014 $17,824 $17,600 101%
2013 $16,738 $16,872 99% Sequestration reduced government spending, at the same time the end of Obama's payroll tax holiday raised revenue. The U.S. debt hit $17 trillion a few days after the end of the fiscal year.
2012 $16,066 $16,066 99% Obama extended Bush tax cuts, combined with $900 billion in defense spending.
2011 $14,790 $15,587 95% Obama Stimulus Act (ARRA) spent $120 billion.
2010 $13,562 $15,058 90% ARRA budgeted $400 billion. For more, see National Debt Under Obama.
2009 $11,910 $14,384 83% Economy contracted 8.9% in Q4 '08, 6.7% in Q1 '09, lowering tax revenues. ARRA spent $241.9 billion. War on Terror cost $79 billion. Fed funds rate lowered to 0%.
2008 $10,025 $14,843 68% Economy contracted 3.7% in Q3 '08, 1.8% in Q1 '08. War on Terror cost $197.6 billion, Bank Bailout Bill cost $350 billion.
2007 $9,008 $14,570 62% Iraq War cost $131.6 billion.
2006 $8,507 $13,909 61% Katrina clean-up was $24.7 billion, swine flu added $6 billion, War on Terror cost $120.4 billion. Ben Bernanke became Fed Chair.
2005 $7,933 $13,205 60% War on Terror cost $107.6 billion.
2004 $7,379 $12,368 60% War on Terror was $94 billion.
2003 $6,783 $11,625 58% Unemployment still at 6%. War on Terror cost $53 billion.
2002 $6,228 $11,037 56% War on Terror added $33.8 billion.
2001 $5,807 $10,640 55% 9/11 attacks worsened the 2011 recession. Bush tax cuts further reduced revenue.
2000 $5,674 $10,357 55%
1999 $5,656 $9,712 58%
1998 $5,526 $9,147 60%
1997 $5,413 $8,692 62%
1996 $5,225 $8,159 64%
1995 $4,974 $7,707 65%
1994 $4,693 $7,352 64%
1993 $4,411 $6,904 64% Bill Clinton passed Omnibus Budget Reconciliation Act
1992 $4,065 $6,587 62%
1991 $3,665 $6,218 59% 1991 recession.
1990 $3,233 $6,030 54% Desert Storm.
1989 $2,857 $5,712 50% Savings and Loan Crisis cost $125 billion.
1988 $2,602 $5,300 49%
1987 $2,350 $4,901 48% Alan Greenspan become Fed Chair.
1986 $2,125 $4,620 46% President Reagan lowered tax rates.
1985 $1,828 $4,395 42%
1984 $1,572 $4,087 38%
1983 $1,377 $3,692 37% Unemployment from the 1982 recession peaked at 10.8%.
1982 $1,142 $3,367 34% 1982 recession, GDP fell 6.4% in Q1 '82.
1981 $998 $3,261 31% Beginning of 1982 recession.
1980 $908 $2,860 32% 1980 recession, Iran oil embargo, GDP fell 7.9% in Q2 '80.
1979 $827 $2,670 31% Volcker became Fed Chair, increasing Fed funds rate to 20% to combat inflation.
1978 $772 $2,399 32%
1977 $699 $2,122 33%
1976 $620 $1,891 33%
1975 $533 $1,714 31% Unemployment from 1973-75 recession peaked at 9% in May, GDP was down 4.8% in Q1 '75.
1974 $475 $1,563 30% Fed raised rates to 13% to fight inflation. Nixon resigned over Watergate.
1973 $458 $1,437 32% OPEC raised oil prices. Nixon went off gold standard, tripling inflation to 9.7%. Fed doubled interest rates. Vietnam War ended.
1972 $427 $1,294 33% Nixon won re-election in a landslide.
1971 $398 $1,180 34% Nixon imposed wage price controls and suspended gold standard. Unemployment from 1970 recession peaked at 6.1% in December
1970 $371 $1,089 34% GDP down 4.2% in Q4 '70. Arthur Burns becomes Fed Chair.
1969 $354 $1,032 34% Nixon became President.
1968 $348 $952 36% Johnson sent 500,000 troops to Vietnam.
1967 $326 $867 38% LBJ created PBS, Product Safety Commission and Air Quality Act.
1966 $320 $821 39% Fed raised interest rates to 5.76% to fight a mild 3.5% inflation.
1965 $317 $750 42% Johnson funds Great Society, creating Medicare,
Medicaid and HUD. Sends 100,000 troops to Vietnam. War's total cost will be $111 billion.
1964 $312 $693 45% LBJ announces War on Poverty.
1963 $306 $645 47% Military coup in Vietnam, aided by 16,000 U.S. advisers. Kennedy assassinated.
1962 $299 $610 49% Cuban Missile Crisis.
1961 $289 $568 51% JFK became President. Bay of Pigs. Unemployment peaked at 6.1% in Dec.
1960 $286 $546 52% 1960 recession started in April. GDP fell 4.2% in Q4 '60.
1959 $285 $525 54% Fed raised rates to combat 7.25% growth rate.
1958 $276 $487 57% GDP fell 4.2% in Q4 '57, and another 10.4% in Q1 '58. Unemployment peaked at 7.1% in Sep '58.
1957 $271 $480 56%
1956 $273 $452 60%
1955 $274 $431 64%
1954 $271 $392 69% Recession follows end of Korean War.
1953 $266 $392 68% Korean War ends, total war cost $30 billion.
1952 $259 $368 70%
1951 $255 $352 73%
1950 $257 $309 83% Korean War starts.
1949 $253 $273 92% 1949 recession.
1948 $252 $280 90%
1947 $258 $250 103%
1946 $269 $228 113% GDP fell 11%.
1945 $259 $228 116% 1945 recession due to end of WWII. War cost $296 billion.
1944 $201 $225 89%
1943 $137 $203 67%
1942 $72 $166 44%
1941 $49 $129 38% Attack on Pearl Harbor, US entered WWII, ending the Great Depression.
1940 $43 $103 42%
1939 $40 $94 43%
1938 $37 $87 43%
1937 $36 $93 39%
1936 $34 $85 40%
1935 $29 $74 39%
1934 $27 $67 40% World trade is down 66% from start of Depression.
1933 $23 $57 39% Roosevelt took office, New Deal signed. Unemployment peaked at 25%.
1932 $19 $60 33% Hoover worsened depression by raising taxes to balance budget.
1931 $17 $77 22%
1930 $16 $92 18% Stock Market Crash of 1929. Congress passed Smoot-Hawley Tariffs.
1929 $17 $105 16% Hoover maintained high wage controls. Fed raised discount rate to defend gold standard, creating deflation. Combination forces bankruptcies on businesses.
