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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (1047687)	1/11/2018 11:08:24 AM
From: zzpat	Read Replies (1) of 1571399

I strongly disagree that Gingrich had anything to do with less spending. The Soviet Union collapsed so their excuse for massive spending died. They needed a new enemy so they went to war with Iraq twice so they could kill some Muslims and get them start wars against us (what we call terrorism). Revenue soared under Clinton because he raised taxes. The deficits fell from $-290 billion to around $-20 billion before Newt did anything. Three reasons; 1) no USSR, 2) the economy was growing because of the Internet and 3) Clinton and Democrats raised taxes (and timed it perfectly so we'd have a growing economy and balanced budgets). Newt and the gop wanted massive tax cuts. Tax cuts that would have exploded the debt. Dole ran on cutting taxes also (after saying tax cuts didn't work for many years). He was defeated as Clinton was reelected. Bush 41 and the Democrats passed Paygo, which forces Congress to pay for whatever it spends. Clinton used Paygo to stop the gop tax cuts. Spending fell because the USSR was gone (notice how republican always ignore this fact). Bush 43 abandoned Paygo.

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