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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: The Reaper who wrote (94024)2/9/2009 11:36:50 PM
From: Little Joe1 Recommendation  Read Replies (2) of 116555
 
Also, Clinton was the beneficiary of the peace dividend. Defense and intelligence were lowered dramatically but not all of those savings were used to pay down debt. Also, Clinton never had a budget surplus, except in the Washington sense, which is to exclude off budget spending. Only politicians could dream that one up. During his entire term, the national debt went up. To be fair it can be said that he had the smallest deficit in recent years and that the Bush administration did significantly and in my view unnecessarily grow the deficit with help from the Dems. But don't worry by the time Obama leaves office Bush's deficits will look like chump change and what is left of the economy will be destroyed.

lj
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