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How to get the federal deficit under control
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General information
Forum:
Politics
Category:
Economics
Miscellaneous
Thread ID:
00880812
Message ID:
00882153
Views:
55
>>How can you say he balanced the budget when the OMB numbers show the debt has grown EVERY year including the 8 under Clinton. The boom of the 90s actually started right before Clinton took office and went bust right about a year before he left. The first Republican Congress in 40 years took over in 1992 which saved Bill from his wife taking over a huge chunk of our economy with their socialized medicine plan.
>
>Although the debt has grown, as you pointed out I believe, it grew more slowly under Clinton than under Reagan, Bush 41, and certain Bush 43. The budgets I am referring to are the annual budgets Clinton proposed to Congress throughout his presidency. One of his top priorities when taking office was reducing the deficit:
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>http://www.pbs.org/wgbh/pages/frontline/shows/clinton/chapters/2.html
>http://www.pbs.org/wgbh/pages/frontline/shows/clinton/interviews/rubin.html
>
>And, Clinton is the only president of the last 4 to actually make payments on the federal debt:
>
>http://www.cnn.com/2000/fyi/news/05/10/national.debt/
>http://www.cnn.com/2000/ALLPOLITICS/stories/05/01/clinton.debt/
>
>Where are you getting your information that the boom started under Bush 41? What I do know is that when Clinton took office, the budget deficit was even higher than anyone expected, or had been told.
>
>And where are you getting your information that the economy went bust a year before Clinton took office?

I have seen published reports that the recession started around the 4th quarter of 2000 and the previous economic growth started in 1992 wich lasted about 8 years. I care not to go research and point to web sites as that was not really my point. I did however point to the OMB figures which do address my point.

My point was that it is a myth that Clinton reduced the Federal deficit. I do agree that he did slow its growth. It is irrelevant whether or not he submitted a balanced budget to Congress. Those are always DOA regardless of who the Prez is. That is why I NEVER give ANY Prez much credit [if any] for economic growth or recessions. Congress has way too much control over the budget, the Fed Reserve over interest rates, etc., all of which influence economies more than any Prez can. About the only leverage the Prez has is the VETO which they use too little of.
Mark McCasland
Midlothian, TX USA
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