I post this more for fun than anything else, but it is still accurate:
Hey, Jeff! Welcome back to the BS Arena.
I don't have the numbers but could it be that the dollar amount of Obama's 35% is equal to or greater than the other 4 added together? Anyone have those numbers? Anyone? Bueller?
Remember, figures lie and liars figure.....
Good to hear from you, Yardley.
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In saying that I was posting this just for fun, one of the reasons is just what you are alluding to. Reagan took over at a time when every administration since the end of WWII had worked to try to balance the budget and reduce the nation's debt from the high levels incurred to fight that war. He adopted policies that resulted in astronomical annual deficits and a dramatic increase in debt. His high percentage in the chart was earned by his policies. By contrast, Clinton took over when the deficit and the debt were at historic highs created by Reagan policies. It took almost eight years to turn the deficit that Clinton inherited into a surplus, and the debt went up significantly before that. However, the percentage increase was low in part because the debt was so high.
GWB inherited that high number debt along with a spending surplus, meaning the debt was being reduced. Like Reagan's, the GWB administration also fundamentally believed that deficits were irrelevant (and often took heat for saying so publicly). He instituted tax cuts that reduced Federal revenues dramatically as a percentage of GDP, while driving up spending to historically high levels as a percentage of GDP. The debt increased by a massive number - both in dollars and in percentage. By the time GWB left office, the annual Federal deficit had doubled from the prior year, which was almost twice the year before. Not only was the deficit growing exponentially, the biggest tax cuts had been timed to occur at the end of the administration, passing the issue on to his successor.
Obama adopted policies that increased the annual deficit slightly from what was being incurred at the end of the GWB administration. Interestingly, the rate at which the deficit was growing as a percentage of the total budget actually shrank from what it had been in the prior few years. Since the first year, the annual deficit has actually gone down, but is still so high that debt is growing dramatically.
If only we could have spent half the money that got poured into the "war on terror" into infrastructure and R&D instead.
"For everyone to whom much is given, of him shall much be required." -- Luke 12:48
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Buzz, you mean the money borrowed from China, money that they are using to stockpile gold with or the money we've been printing?
Don't forget that this is the front against terror as the extreme right talk show pundits have explained us.
The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org
If I had to guess, I would guess Congress, since I believe they are the ones that authorize spending and budgets.
Maybe I am wrong.
I think the backlash is due to the fact that we are now spending more than we have on crap we don't need.
I think common sense dictates we cut back a bit until we can afford the waste again.
If blaming Bush gets you off.........
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I feel bad for our children. They're so screwed.
We live in Cuba now.
I give Clinton his due. After the healthcare debacle of Hillery, he got slamed by the republicans, losing both the house and the senate. Because he and Newt Ginhrich could deal, the budget was indeed balanced. Actually they were close to working out a deal to stabalize SS, but old Bill couldn't keep it in his pants.
Good to see you Jeffery.........
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In round numbers, under Reagan the debt increased by almost 21% of GDP. Under GB, it increased 13% of GDP, under Clinton it decreased almost 10% of GDP, under GWB it increased by almost 28% of GDP, and under Obama it increased by 9% of GDP. Between Roosevelt and Reagan, the debt decreased as a percentage of GDP under every administration. (see, for example, http://en.wikipedia.org/wiki/Nationa...idential_terms