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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (41442)	11/23/2010 7:29:42 AM
From: FJB	4 Recommendations Respond to of 103300

The budget deficit in Reagan's last year was a little bigger than LAST MONTH's. Obama is destroying us on purpose. ----------------------------------------------- OVEMBER 10, 2010, 5:48 P.M. ET U.S. Budget Deficit Hit $140.4 Billion in October online.wsj.com

To: Bill who wrote (41442)	11/23/2010 3:44:58 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

Reagan era policies created the structural budget deficits (and the bulk of our nation's modern debt load): ...As a result of all this, the budget deficit and federal debt increased considerably: debt grew from 33.3% of GDP in 1980 to 51.9% at the end of 1988 [16] and the deficit increased from 2.7% in 1980 to more than double in 1983, when it reached 6%; in 1984, 1985 and 1986 it was around 5%.[17] In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $997 billion to $2.85 trillion,[18] and the United States moved from being the world's largest international creditor to the world's largest debtor nation.[19] Reagan described the new debt as the "greatest disappointment" of his presidency.[20] en.wikipedia.org -------------------------------------------------- Reagan got elected by telling the country the debt was "out of control." Compared to national income, it was the lowest in 50 years.... In 1981 Reagan's supply siders wrote the tax cuts for the rich and his budgets. The Senate was Republican, and Reagan got the Southern Dems in the House to vote for him. All Republicans and a few Dems voted for the budget. The national debt had its worst year since 1945. The next year it got worse, and for 20 out of 20 years, the supply siders raised the debt relative to our ability to pay.... ...As this graph shows, Congress changed the presidents' budgets only a tiny bit and more down than up — by $16 billion over Reagan's eight years. And over those eight years Reagan increased the debt by $1,860 billion. Blaming that on the tiny budget reduction by Congress is just political nonsense.... ...This graph shows what happened since Oct. 1, 1981, the day Reagan started his first budget. First Reagan increased the debt by $1.9 Trillion (see for yourself). Then Bush brought that to $3.4 Trillion. Then all that started collected interest for the next 17 years, and with compounding that grew to $8.2 Trillion by Sept. 30, 2010. Clinton, Bush II and Obama are not to blame for that interest, and without it, Clinton would have paid off most of the $1 Trillion WWII debt that Reagan scared us with to get elected. And Bush II (and his supply siders) would have run up only $3.8 Trillion — not $6.1T, which is what actually happened under Bush II. (A clear proof of this with document links: zfacts.com ) Before the supply siders, Dems and Repubs brought the debt down relative to our income in 27 out of 35 years. The supply siders (with Reagan and the Bushes) raised it 20 out of 20 years. That's no accident. The Supply-Sider's Hoax: Bush-I called it voodoo economics (but he got stuck with it). Their "theory" is that cutting taxes for the super rich will encourage them to work so much harder and make so much more money that they will pay more taxes, even though their tax rate went down. Well the voodoo didn't work in 20 out of 20 years.... zfacts.com -------------------------------------------- Reagan's Budgets and the National Debt zfacts.com Contrary to Republican claims, "The Democratic Congress" did not bust Reagan's budgets. In fact, for the first six years, Congress was not Democratic, it was half and half, and the Republican Senate had just as much say, even though the budget bill starts in the House. On top of that, Reagan got the Southern Democrats to vote with him and so he controlled the House too. But none of this matters because over Reagan's 8 years, Congress approved smaller budgets than he requested on average, and the deviation from what he requested averaged less than half a percent. He raised the debt by $1,860 billion and Congress reduced his budgets by $16 billion. Otherwise he would have raised the debt by $1,876 billion....