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hnooe

Beach Fanatic
Jul 21, 2007
3,022
640
:lolabove:

All in all though I have to say I think it's pretty cool what they did, even if it did backfire a bit.[/quote]

_____________________________________________________________________________________________

Speaking of totally backfiring ya'll...did you catch that news conference yesterday by John Boehner, presenting the Repub.'s alternative budget/stimulus proposal--an 18 page long term paper, whos only hard numbers mentioned were lifted from the Obama Admin. budget.:lol:
 
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Dominoes

Beach Lover
Feb 17, 2008
181
62
we are never again going to balance the budget until the "day o' default". the last president to balance will be clinton.

Please check your facts. GWB had budget surpluses in 2000 and 2001, so if your theory holds he will be the last Prez to balance the budget. Amazingly, the 9/11 attacks and subsequent military action is what sent the US into budget deficits after that. Don't blame Bush for the deficit until 2004 when the war was mishandled and we got bogged down in Iraq.

I was dogging Obama last week and it seems like his Treasury Sec. has improved in the last week, but it had gotten to true do-or-die. I just don't see how they can risk running unsustainable budget deficits (>5% of GDP) and fix the economy. I believe we are seeing a bear market rally and will retest lows by the end of April.
 

30ashopper

SoWal Insider
Apr 30, 2008
6,845
3,471
59
Right here!
Please check your facts. GWB had budget surpluses in 2000 and 2001, so if your theory holds he will be the last Prez to balance the budget. Amazingly, the 9/11 attacks and subsequent military action is what sent the US into budget deficits after that. Don't blame Bush for the deficit until 2004 when the war was mishandled and we got bogged down in Iraq.

I was dogging Obama last week and it seems like his Treasury Sec. has improved in the last week, but it had gotten to true do-or-die. I just don't see how they can risk running unsustainable budget deficits (>5% of GDP) and fix the economy. I believe we are seeing a bear market rally and will retest lows by the end of April.

Neither Bush nor Clinton balanced the budget as they both borrowed from entitlement income to pay the bills. I believe the last time the feds took in more revenue than they paid out was 1957 under Eisenhower. Unfortunately this was short lived - his spending and the spending of every president after continues to pile up. (What's 5% annual on 20 trillion? Hmmm.)
 

traderx

Beach Fanatic
Mar 25, 2008
2,133
467
Neither Bush nor Clinton balanced the budget as they both borrowed from entitlement income to pay the bills. I believe the last time the feds took in more revenue than they paid out was 1957 under Eisenhower. Unfortunately this was short lived - his spending and the spending of every president after continues to pile up. (What's 5% annual on 20 trillion? Hmmm.)

Presidents have been known to play games with statistics. A good way to see if we have a surplus or defict in any given year is go to the Treasury website. Treasury lists our historical debt by year. At the link, click the data range 1950-1999. Then 2000-2008. Track the debt during each year of Bill Clinton's two terms. You will see that the debt increased each and every year. The only way for this to occur is a budget deficit every year.

Government - Historical Debt Outstanding ? Annual
 

Miss Kitty

Meow
Jun 10, 2005
47,011
1,131
71
I stood out front of the Dept of Treasury yesterday and yelled from across the street...


Hey Mr. G....I am here for my bailout...show me some G's!

Nothing happened, but oddly, I felt better. I asked for Lynnie's share, too.:D
 
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