Quote:
|
Originally Posted by dc_dux
There are both immediate and long term impacts of tax and spending policies.
But.....
|
I don't know if I should take that to mean yes you agree or no you don't agree. I won't make an assumption or read into what you wrote.
Quote:
Much of Bush I's budget deficit and contribution to the national debt was the result of excessive spending....the primary reason why Perot ran in 1992. The downward trend in deficits/gdp under Clinton came four years into his term and as a result of spending limits that he and the Repub Congress agreed to. Show me any data that suggests it was in any way the impact of Bush I tax/spending policies.
Under Clinton, tax revenues were the hightest in US history and spending was frozen for many domestic programs. The Bush II contribution to the debt is coming more in his second term (and beyond) than the first. Again, show me how the disciplined tax and spending policies of the late 90s is contributing to the exponential growth in the national debt.
The biggest reason for the "low" deficit number is that borrowing from the Social Security trust fund is "off-budget". All reason Presidents have used the SS trust fund to pay for current programs and put an IOU in the trust fund.
But no recent president has raided the SS trust fund anywhere near the level that Bush has.
I will say what I said previously....the annual deficit is not the real issue....it is the accumulated national debt that is the concern of most economists and fiscal analysts. And no president has added to the national debt as much as Bush, with no indicators of any draw down on the debt in the foreseeable future.
|
Spending increased during Clinton's term, I am not aware of any administration that had spending reductions.
In '92 revenues increased 3.4%
In '93 +5.7%
In '94 +9% and stayed above 7% and peaked at 10% in 2000. In 2001 there was a 1.6% decline in revenues.
Who gets the credit or blame for the decline?
Who gets credit or blame for the above norm growth in revenue during the mid and late '90's?
The reasons deficit spending is important is that it lays the foundation for discussion on the debt in my view. Shouldn't finish one topic before starting another? And the OP was about the deficit.