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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (33179)	2/24/2009 2:52:44 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 71588

Re: "Obama will have to show us how the economy is going to grow to support his promise". Of course! (But actually the ECONOMY will have to 'show us' by actually beginning to grow! 'Cause no one cares what politicians SAY. The only important factor is what REALLY HAPPENS.) But the evidence of history seems pretty clear.... Over the past 50 years or so, (but especially over the most recent 40 years...), the ONLY TIMES that government has been able to REDUCE the federal deficit in real terms as a percentage of GNP was when policies were followed which resulted in two main things: 1) HIGHER ECONOMIC GROWTH for the economy. ('Rising tide lifts all boats'... including the amount of revenue that is paid in to the federal coffers, thus reducing the need for federal borrowing.) and 2) RESTRAINT IN FEDERAL SPENDING. Those seem to be the two irreducibly key factors. If --- over the span of time this President has in office --- these two key factors are achieved, then we can reasonably expect to see major improvement on the federal debt accumulation. Just as it has been demonstrated on various occasions since WW II. And, most recently: MEASURED AS A PERCENTAGE OF GROSS NATIONAL PRODUCT, IN REAL INFLATION-ADJUSTED TERMS, official national debt declined significantly under Clinton ---- certainly when compared to the biggest budget busters of all time: Reagan, Bush I, and Bush II: Debt Up: Increase in Real National Debt during George W. Bush two term Presidency, (final year's number not official yet): 2001 - 2009. National Debt went up big again under the younger Bush. Increased by an estimated 10.8%. Debt Down: Decrease in National Debt during the two terms of the Clinton Presidency: 1993 - 2001. National Debt went down under Clinton. Decrease in debt was -8.8%. Debt Up: Increase during H.W. Bush Presidency (single four year term): 1989 - 1993. National debt increased at an even faster annual rate (then Reagan average...) under H.W. Bush's single four years. Increase was 13.1%. Debt Up: Increase in National Debt during the eight years of the Reagan/Bush Presidency: 1981 - 1989. Real National Debt hugely increased during the Reagan/Bush two terms. Debt increased by 20.5%. Debt Down: 1977 - 1981. Carter (single term). Debt decrease was -3.2%. Debt Down: 1969 - 1977. Nixon/Ford (two terms). Decrease in national debt: -2.8%%. Debt Down: 1961 - 1969. Kennedy and Johnson (two terms). Decrease was -16.5%. Debt Down: 1953 - 1961. Eisenhower (two terms). Decrease -16.2%. Debt Down: 1949 - 1953. Truman (one term). Decrease -21.9%. Debt Down: 1945 - 1949. Roosevelt/Truman (one term). Decrease -24.3%. ------------------- DATA SOURCE: the official budget for the United States of America for 2009. The data is listed in the "historical tables" included in the U.S.'s fiscal year 2009 Budget. Here it is (PDF): whitehouse.gov An encyclopedia article about this is here: en.wikipedia.org ------------------ GROWTH and fiscal restraint, FISCAL PARSIMONY seem to be the keys.