Quote:
Originally Posted by jimnaseum
The day the Bush administration took over from President Bill Clinton in 2001, America enjoyed a $236 billion budget surplus -- with a projected 10-year surplus of $5.6 trillion.
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See, that's where you've already gone off the rails. But at least you used the right word to try and sneak one through.
When Bill Clinton left office, he did the exact same thing that ALL presidents are required do: namely, he submitted a 5 year PROJECTED budget report based on the economic indicators that HE (as current president) was basically GUESSING the way the economy would go, if Congress pursued his suggestions in the future.
The only problem for Clinton is that he basically guessed WRONG on pretty much everything across the board. In his 5 year projection, he stated (for example) that the boom "dot coms" that were currently blossoming at the time and making people overnight multi-millionaires would continue and grow the economy...when in fact the "dot com" bubble actually burst and NEVER lived up to Clinton's projections. Likewise Clinton predicted that energy costs would drop and thus trim the budget...except than the direct OPPOSITE happened and energy coasts literally SOARED, coupled by energy companies like Enron even going bankrupt due to financially fake book-keeping.
And before anyone on the Left tries to pull the old bullshit line about Bush being in the pocket of companies like Enron, keep it mind that it was UNDER CLINTON that Enron grew in size and doctored its books and went unchecked. Why? Because Clinton wanted to cite and incorporated their profit numbers as proof that his economic plan was working.
The crock of this being that during the 1980 presidential debates, Bush literally POINTED to the fact that far too many companies were doctoring their books...that far too many of Clinton's numbers were actually waaaaay off and misleading...which prompted an infamous historical exchange in the debates where Gore accused Bush of trying TO CREATE a recession by talking down the economy. Those on the Left love to conveniently forget that in 1980 Bush WARNED that a recession was looming, while Gore (and the running candidate) and Clinton said it was all nonsense and the economy was perfectly sound...
...At which point it turned out Bush was right, and we did enter a recession. And Bush was right again as companies like Enron went under. And for all the talk on the left how Bush was in the pocket of Enron, let the record show that it was BUSH and HIS justice department that went after Ken Lay and Enron, to throw them into jail and to expose the bookkeeping corruption that was going on.
Quote:
Originally Posted by jimnaseum
When the Bush administration left office, it handed President Obama a $1.3 trillion deficit -- and projected shortfalls of $8 trillion for the next decade. During eight years in office, the Bush administration passed two major tax cuts skewed to the wealthiest Americans, enacted a costly Medicare prescription-drug benefit and waged two wars, without paying for any of it.
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Which the Democrats ALSO continually voted for as well.
So your point? Or are you admitting the Dems have no clean hands as well?
As for Bush handing Obama a $1.3 trillion deficit after 8 years, given your indignation, how do you feel about Obama QUINTUPLING that amount in only ONE year?