Re: "Until we achieve a true understanding of the macro-economic reality of deficits, the Marxist/Leninist anti-American left ... <blah, blah, rant, snort, blah, blah, blah> ...stone-headed ignorant McCainiacs... <snort, dribble...>
Cy, no problem... the effects are well understood. Only you seem to be still in the dark.
As to the link you posted, thanks. It's quite useful.
It shows that - mostly except for the WW II years when the American economy was really pressed (and immediately after WW II), the largest federal deficits in modern times were run up by the Reagan administration, and the Bush I administration... and that a little of that Bush I deficit problem slopped over into the first Clinton years until they reached the "Rubin-esque" decision to both raise revenue and pay down debt.
After WW II, (I put the WW II and right after years in italics), the biggest red ink administrations, the one's who couldn't balance their check books, were (in order):
FDR - '43
TRUMAN - '45
FDR - '44
FDR - '42
REAGAN - '83
REAGAN - '85
REAGAN '86
REAGAN - '84
BUSH I - '92
TRUMAN - '48
BUSH I - '91
FORD - '76
REAGAN - '82
BUSH I - '90
CLINTON - '93
FORD - '75
REAGAN - '87
FDR - '40
BUSH II - '04
Thanks, quite useful.
You will also note that the bulk of the Bush II impact upon the deficit is in the 'out years' (that's why they quit giving budget projections beyond 5 years) because the bulk of his tax breaks are 'back-loaded' and don't show up until the out years (like the estate tax).
Since the Baby Boomers start retiring en-mass in about 2012, Alan Greenspan has pegged 2010 as the tipping point.
He says if we are still running deficits beyond, say, 3% of GNP... then we are at the "Point of No Return".
The Bulk of Bush II's addition to the endless mountain range of federal budget deficits is scheduled to be added in '06, and after.
... Good timing for a disaster.
... Certainly he will rise in your 'red ink' list, perhaps even higher than Reagan, the past master. |
