@Advocate,
BO ( His name is Barack Obama--BO( as in body odor)certainly has accomplished a great deal. He will soon ruin the Medical System used in the US, load the US industrial system with crippling regulations on controversial and unproven findings on climate control which, given the opposition by China and India, will render us a third rate industrial power. His laughable commentary concerning providing higher education to millions of citizens( paid with tax dollars of course) overlooks the fact that most of his targets for this subsidized education do not and will never have the requisite brain power to achieve what is a real college education.
Slick Willie may have done well with some yearly deficits but he did not do well on the debt. Left wingers do not understand the difference between yearly deficits and total ongoing debt. Left wingers also do not realize that most of Slick Willie's so called influence on the deficit was NOT accomplished by him but rather by the REPUBLICAN controlled House and Senate and by the head of the Fed---Alan Greenspan. Slick Willie was too busy implementing his cigar tricks with Monica in the Oval Office to pay attention to financial matters.
Below is evidence showing that the national debt GREW under Slick Willie.
Historical Debt Outstanding - Annual 2000 - 2008
Includes legal tender notes, gold and silver certificates, etc.
The first fiscal year for the U.S. Government started Jan. 1, 1789. Congress changed the beginning of the fiscal year from Jan. 1 to Jul. 1 in 1842, and finally from Jul. 1 to Oct. 1 in 1977 where it remains today.
To find more historical information, visit The Public Debt Historical Information archives.
Date Dollar Amount
09/30/2008 10,024,724,896,912.49
09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86
@genoves,
Leave it to genoves to try to claim Clinton was President from 2001-2008.
How stupid can you get this time genoves before you leave again?
That is pretty good evidence that Bush almost doubled the national debt if you could remember WHO was President from 2001 to 2009.
and lookie there.. From 2007 to 2008 Bush added $1 trillion to the debt.
@OCCOM BILL,
This is more than a little over your head, but adding to one's debt doesn't translate to a deficit. Thus, if your salary is 100,000 and your outgo is 50,000, you have a 50,000 surplus, notwithstanding your borrowing 150,000 to start a business. Does your head hurt now?
@parados,
Also, Bush left a 1.3 T deficit for fiscal 2009.
@cicerone imposter,
Actuals (in billions):
Quote:
Revenues... Outlays... On-Budget
1992............. 1,091.3..... 1,381.6...... -340.4.
1993 .............1,154.5..... 1,409.5...... -300.4
1994 .............1,258.7..... 1,461.9...... -258.8
1995............. 1,351.9..... 1,515.9...... -226.4
1996 .............1,453.2..... 1,560.6...... -174.0
1997 .............1,579.4..... 1,601.3...... -103.2
1998............. 1,722.0..... 1,652.7...... -29.9
1999............. 1,827.6..... 1,702.0......... 1.9....
CI, why did you omit fiscal 2000 and 2001? He was not sworn in until 1993, which year the budget was already set by Bush, Sr. The 2001 budget was set by Clinton.
@Advocate,
Because that report only shows estimates beginning in 1995.
@Advocate,
No kidding.
But if you have a debt, you have to pay it.
It is not possible to have a balanced budget, at any level, if you have debts outstanding.
You must include those debts in your budget.
@cicerone imposter,
It is ancient history. Please show the actual figures.
@mysteryman,
The outgo includes payments on any debts. But the debt itself is not outgo.
@cicerone imposter,
CI: I sent you a PM asking for a favor. I hope you noticed it and can help. RJB
@realjohnboy,
Here's the graph from your link:
@cicerone imposter,
Bush could hardly wait to get into office and spend that surplus -- it was like giving a credit card to a teenager with an open limit.
@Lightwizard,
Yup, it took a nose-dive and went to an area no man has ever gone before.
Like father, like son. The son outdid his daddy.
@cicerone imposter,
Thank you, CI, for responding to my request to have you post that. I am not smart enough to move stuff like that from one thread/site to another. I assured CI that his fingerprints are not on this graph. He simply helped me post it here.
The data in the graph above is not adjusted for inflation. That is somewhat, perhaps even more than somewhat, important,
Yall must understand that "government" accounting differs from "private sector " accounting and "personal" accounting in several ways.
Most of us think of: Money coming in - Money going out = Surplus/Deficit.
And: Debt at the Beginning of the Year +/- Surplus/Deficit = Debt at the End of the Year.
I will be back tomorrow to talk about that if anyone is interested. Actually, I will be back tomorrow even if no one is interested.
Using "as a percentage of GDP" gives a false impression of both the last two administrations. It credits Bush with artificial Housing bubble money, and Clinton with what's widely known as the "Dot.com bubble." A more accurate measure of fiscal responsibility should eliminate unnecessary considerations like GDP. Further, every President would tell you his overspending was an "investment in the future", and while this may or may not be true; or true to varying degrees with each President (though people would never agree on which Presidents, etc), the prudent measure is to simply look at the bottom line. The bottom line doesn’t lie, and it couldn’t be any clearer. Factor in other statistics to pretend “less bad” equals a “surplus” till the cows come home… but it won’t change the simple truth that every recent President left office with the country deeper in debt than when he took office.
@realjohnboy,
your chart seems to under report the problem:
Quote:The changes, reported on Monday by the Office of Management and Budget, brings the deficit for this fiscal year, which ends Sept. 30, to $1.84 trillion from a February projection of $1.75 trillion. For fiscal 2010, the new estimate is $1.26 trillion, up from $1.17 trillion.
http://www.nytimes.com/2009/05/12/business/economy/12budget.html
