Tilted Forum Project Discussion Community - View Single Post - From Federal Budget Surplus, to Disaster, in Just Six Years

dc_dux · 10-11-2006, 08:14 AM

Ace...I fail to see how your charts paint a different picture than mine.

Your first one shows how the national debt as percent of GDP went down during all Dem presidents and up during Reagan/Bush I and Bush II

Your second shows how receipts exceeded outlays for the first time in a long time under Clinton(i.e. surplus) and how outlays are exceeding receipts under Bush. And, the annual budget deficit has been worse in each of the last 5 years than anytime since WWII.

Maybe you can explain your interpretation a little better.

I dont think it will lead to a disaster, but simply that the fiscal policy of the last 5 years has taken us in the wrong direction.

The fact that the interest on the national debt is the third larget expenditure in the budget does not promote a productive economy and the fact that a growing percent of our debt is owned by foreign governments and banks, particularly when its China and OPEC, is not in our financial or security interests.

10-11-2006, 08:14 AM	#32 (permalink)
dc_dux Location: Washington DC	Ace...I fail to see how your charts paint a different picture than mine. Your first one shows how the national debt as percent of GDP went down during all Dem presidents and up during Reagan/Bush I and Bush II Your second shows how receipts exceeded outlays for the first time in a long time under Clinton(i.e. surplus) and how outlays are exceeding receipts under Bush. And, the annual budget deficit has been worse in each of the last 5 years than anytime since WWII. Maybe you can explain your interpretation a little better. I dont think it will lead to a disaster, but simply that the fiscal policy of the last 5 years has taken us in the wrong direction. The fact that the interest on the national debt is the third larget expenditure in the budget does not promote a productive economy and the fact that a growing percent of our debt is owned by foreign governments and banks, particularly when its China and OPEC, is not in our financial or security interests. __________________ "The perfect is the enemy of the good." ~ Voltaire Last edited by dc_dux; 10-11-2006 at 08:18 AM..