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Originally Posted by CrustyMac:
Originally Posted by seeweed:

George W Bush inherited the strongest economy we have ever had, and a national economic strategy that was producing a yearly surplus which should have been used to pay down the debt.

 

How anyone can call that a mess is beyond me - no reason to even try to discuss anything with that miindset.   

________________

Bush Jr inherited an economy that was still gliding - but about to collapse - from Bush Sr's day.  Bill Clinton rode it out, but didn't do the necessary things to keep it going.  Let's check the local economy for example - during the Clinton administration, every textile mill and clothing factory in the South closed.

The last federal government surplus was during Andrew Jackson's tenure to the white house there hasn't been one since, not ever. A balanced budget and a surplus are two entirely different things. Just because you made a $100 last week, but only spent $90 last week has nothing to do with your $20,000 in credit card debt till you apply the $10 to the credit card and then it still won't save you any real interest or late fees.

Now as to inherited, that's what Queen Elizabeth did and Prince Charles hopes to do.

All the temporary occupants of the white house listed here on this post were elected to a position that they ran for with the support of their political party and at great financial cost to their party. So they should have had a general idea of what they were getting into, so I find it ludicrous when any of them whine out the excuse they inherited these problems after telling the voters what a lousy job the current group had produced and promised how their ideas will fix it all if we will just vote them in. 

So let us forget the "I inherited this problem excuse".

The Repubics say there was a surplus. 

 

''The federal budget will have the second largest surplus in history,'' Mr. Bush told an audience of several thousand people at Harry S. Truman High School on August 22,2001, referring to figures for the current fiscal year to be released on Wednesday by the White House Office of Management and Budget.

 

 

Or Lawrence Lindsey, Bush's top economic adviser:

"The budget surplus is $5.6 trillion. Two and a half trillion of that is put aside for Social Security and paying down the national debt," Lindsey said. "That leaves $3.1 trillion in surplus. That's after we've taken care of all existing spending. We're only asking that half of that, [$1.6 trillion] out of the $3.1 trillion, be used for tax cuts."












Best, now we have several examples why credit card debt is in the billions now.

 

And just because a politician claims theirs a surplus, is like like a spouse, who wants to go on a cruise explaining sure the Visa card is maxed out Honey, but you forgot I just got a new Mastercard and a Discover came this morning, and both with a $5,000 limit so we have a $10,000 dollar surplus, we can afford to go......

Originally Posted by FatRat:

Best, now we have several examples why credit card debt is in the billions now.

 

And just because a politician claims theirs a surplus, is like like a spouse, who wants to go on a cruise explaining sure the Visa card is maxed out Honey, but you forgot I just got a new Mastercard and a Discover came this morning, and both with a $5,000 limit so we have a $10,000 dollar surplus, we can afford to go......


Blind leading the blind.

 

Hillary For Prez after Obama's second term. I doubt seriously  that the three stooges would  have picked the field of candidates from which the nation should choose as has the Republician party to lead the nation.

    Obama could never, on purpose, be the thief or bungler these Republician candidates have promised to be ahead of time.

More inheritance

Kim Jong un inherited the leadership of N. Korea. many have expressed dis-belief due to the new leaders lack of experience and having  no real history of a successful accomplishment in his entire adult life. But after looking at the most powerful nation in the world and that the U.S.citizen had also picked their current President with an equal track record as to success everyone felt much better...

 

Best I can tell Obama didn't inherit any job he campaigned hard and promised every possible fix to what he claimed was wrong with this country and the former administration, only after 3 years has added problems and continued all he claimed was wrong and has fixed nothing nor fulfilled not the first promise he made to fix the problems. 

Originally Posted by JimiHendrix:
Originally Posted by Bestworking:

There never was a clinton surplus. Never.

No matter how many hundred times you tell this fabrication, it will still be a lie. Just because you believe it, doesn't mean that it is true.

When I ws a kid there was an old retired lawyer named Harry who hung around town telling tall tales. I mean some of the things he would come up with would make Pecos Bill look like the kid next door, and Paul Bunyon and his Blue Ox like the working man across the street and his dog. Of course he was always the hero of his story.

At any rate, one day in the barber shop he spun some extremely tall tale and one of the other old men sitting there said "Harry, you'r just a liar" 

Well, ole Harry answered "I'm not a liar and I can prove it !  The dictionary describes a liar as someone who tells an untruth with the intent of making the person believe that untruth. Everybody knows all the stuff I tell is a damm lie, so by definition I can't be trying to get anybody to believe a falsehood. Therefore i am not a liar."

I think we have found the reincarnated spirit of Harry.

Originally Posted by FatRat:

More inheritance

Kim Jong un inherited the leadership of N. Korea. many have expressed dis-belief due to the new leaders lack of experience and having  no real history of a successful accomplishment in his entire adult life. But after looking at the most powerful nation in the world and that the U.S.citizen had also picked their current President with an equal track record as to success everyone felt much better...

 

Best I can tell Obama didn't inherit any job he campaigned hard and promised every possible fix to what he claimed was wrong with this country and the former administration, only after 3 years has added problems and continued all he claimed was wrong and has fixed nothing nor fulfilled not the first promise he made to fix the problems. 

More delusional crap.

Originally Posted by JimiHendrix:
Originally Posted by FatRat:

More inheritance

Kim Jong un inherited the leadership of N. Korea. many have expressed dis-belief due to the new leaders lack of experience and having  no real history of a successful accomplishment in his entire adult life. But after looking at the most powerful nation in the world and that the U.S.citizen had also picked their current President with an equal track record as to success everyone felt much better...

 

Best I can tell Obama didn't inherit any job he campaigned hard and promised every possible fix to what he claimed was wrong with this country and the former administration, only after 3 years has added problems and continued all he claimed was wrong and has fixed nothing nor fulfilled not the first promise he made to fix the problems. 

More delusional crap.

 

 

Same old...same old.

Originally Posted by JimiHendrix:
Originally Posted by Bestworking:

There never was a clinton surplus. Never.

No matter how many hundred times you tell this fabrication, it will still be a lie. Just because you believe it, doesn't mean that it is true.


BushIIe said many times that there was a surplus, that was his justification for his Tax Cuts for the Wealthy.  BushIIe said that a tax cut was necessary because the government was collecting more than it needed so to reduce government revenues HE CUT TAXES.

What you don't understand juan is to never just take someone's word for something. When you hear there was a clinton "surplus" and you know better you search for the real truth. You won't do that because you don't want to see it broken down. I can't help you there. I've told you to just do the search and you'll see for yourself, but you're afraid.

Originally Posted by JimiHendrix:
BW is a moron who isn't worth arguing with. She is not interested in truth or reality. She is probably insane.

Unfortunately, she is a typical RepubTeaCon.  She thinks that the government accounting procedures are the same and should be the same as she uses in her small business.  She also thinks that running a commercial business has any bearing on running a country, or a state.   Partisanship is a disease,and the only cure is education, so we in AlObama are doomed. 

No juan, I am a republican. Not a tea party member and not a brainless democrit like you. I don't take anyone's word for anything as I've said, and knowing there was no proof of a surplus I wondered why you democrits kept insisting there was, so I did the research to see what I missed. What I found was just what I had thought all along, there was no surplus. Now unlike you and all the other demozombies, i don't believe that saying something is real over and over means it is. You can't "wish it" into being. If there had been a surplus i would be demanding to know where it went. Because you and jimma won't do the research you can just stay ignorant and keep throwing silly words and insults at the problems. I prefer to vote and try to get them solved. 

Posted for about the tenth time -- no surplus:

 

"The annual federal government budget deficit or surplus is the cash difference between government receipts and spending, ignoring intra-governmental transfers. This is a trick as intra-governmental debt needs to be repaid just like the publicly held debt. This is also how Clinton claimed a surplus in three out of his last four years. (Source for all of the numbers below, US Treasury Direct).

Fiscal
Year

End
Date

 

Public
Debt

Claimed Surplus

 

FY1997

09/30/1997

 

$3.789667T

 

 

FY1998

09/30/1998

 

$3.733864T

$69.2B

 

FY1999

09/30/1999

 

$3.636104T

$122.7B

 

FY2000

09/29/2000

 

$3.405303T

$230.0B

 

FY2001

09/28/2001

 

$3.339310T

 

 

 

These figures include the public debt but not the intra-governmental debt.  Its like paying off your American Express card while ignoring the fact that your Mastercard over the limit and months past due. Your Amex looks great but your budget is not balanced.

 

When the Treasury department reports the National Debt (now at $14.5 trillion) it counts both public and intra-governmental debt. Clinton’s first full budget proposal in 1993 took effect in October 1993 and concluded September 1994 (FY1994) and his last started in October 2000 and ended in September 2001. Using those bookends and subtracting each year’s national debt from prior years,  here’s the national debt at the end of each year of Clinton Budgets.

Fiscal
Year

Year
Ending

National Debt

Deficit

FY1993

09/30/1993

$4.411488 trillion

$346.87 billion

FY1994

09/30/1994

$4.692749 trillion

$281.26 billion

FY1995

09/29/1995

$4.973982 trillion

$281.23 billion

FY1996

09/30/1996

$5.224810 trillion

$250.83 billion

FY1997

09/30/1997

$5.413146 trillion

$188.34 billion

FY1998

09/30/1998

$5.526193 trillion

$113.05 billion

FY1999

09/30/1999

$5.656270 trillion

$130.08 billion

FY2000

09/29/2000

$5.674178 trillion

$17.91 billion

FY2001

09/28/2001

$5.807463 trillion

$133.29 billion

 

To be fair, Clinton’s FY 2000 budget came very close, it only added about $18 billion to the national debt, but in his last budget he was back up over $130 billion.

 

Despite what you may hear from Democrats on the campaign trail, there were no giant surpluses that Bush squandered (Bush did overspend, but there was no surplus to squander). The myth of Clinton balancing the budget and producing surpluses belongs with unicorns and and elves, in the realm of myths. The last president to preside over a balanced budget/surplus was Dwight Eisenhower, whose government saw surpluses of  approximately $2 billion dollars in 1956 and 57.

Neither Bill Clinton nor any Republicans deserve any credit for balancing the budget in the 1990s, because the budget was never balanced.

 

http://biggovernment.com/jdune...never-ran-a-surplus/

 

You can drag a prog to the well of knowledge.  To make him drink requires holding his head underwater. 

Originally Posted by FatRat:

The last federal government surplus was during Andrew Jackson's tenure to the white house there hasn't been one since, not ever. A balanced budget and a surplus are two entirely different things. Just because you made a $100 last week, but only spent $90 last week has nothing to do with your $20,000 in credit card debt till you apply the $10 to the credit card and then it still won't save you any real interest or late fees.

Now as to inherited, that's what Queen Elizabeth did and Prince Charles hopes to do.

All the temporary occupants of the white house listed here on this post were elected to a position that they ran for with the support of their political party and at great financial cost to their party. So they should have had a general idea of what they were getting into, so I find it ludicrous when any of them whine out the excuse they inherited these problems after telling the voters what a lousy job the current group had produced and promised how their ideas will fix it all if we will just vote them in. 

So let us forget the "I inherited this problem excuse".

 

The national debt is not like a credit card debt; it's more like a mortgage payment. Yes, that is the amount owed, but it is not all due and payable right now. The national debt is secured by bonds, and those have a payout period. You can sell your bonds to somebody else if you need money right now. But you aren't going to get your money back from the U.S. Treasury right now.

 

And since the yearly bond payments are figured into the budget, when those are covered along with all other bills, then, yes, you do have a surplus.

On Jan. 8, 1835, all the big political names in Washington gathered to celebrate what President Andrew Jackson had just accomplished. A senator rose to make the big announcement: "Gentlemen ... the national debt ... is PAID."

That was the one time in U.S. history when the country was debt free. It lasted exactly one year.

 

Having money in your pocket that you owe, is not a surplus, it's money you owe....

Originally Posted by FatRat:

How long underwater after the bubbles quit appearing a day or two ?


And you can research it, NOT since Andrew Jackson was President has this country been out of debt and had unencumbered cash in it's bank account.....

 

 

When gold was used for money, you say it was "unencumbered." But since all money in circulation today is borrowed money, if it just sits there it is still racking up interest charges. If all debt in this country was paid off, there wouldn't be any money.

 

You may have a residual amount in your bank account, your mattress, or in a coffee can buried in the back yard. But when you spend that out, there won't be any more -- unless somebody borrows it. 

 

A positive balance of trade is the same way: when that is spent, it's gone. And the positive balance would soon disappear because there won't be any products to trade. There won't be any money for payroll, the power bill, raw materials, etc.

 

 “If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon.” - Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta, 1934 foreword to 100% Money, by Irving Fisher.

http://www.webofdebt.com/excerpts/introduction.php


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