the surplus years were due to ronald reagan and the benefits of computers,
but comrade clinton takes credit for it.
The chart should use inflation-adjusted dollars. The purchasing power of our fiat money has depreciated about 15x since 1960 alone and much more than that over the span of the chart.
if one picture is worth 1000 words, then this one would be worth about 10,000,000 of Obamas words
A large part of the dip during the Bush years could’ve been avoided if we’d made Iraq pay war reparations, but the libs and rinos decided to embark on nation building at US tax payer expense.
You see the surplus begin when the Republicans took over Congress in 94, which was to be expected. All the elements were there, but spending control, and lower tax strain on producers. That was added, somewhat. The real problem is that government has grown too big to work with the laws of economic gravity. It is crushing itself, and everyone with it, like the fifty foot tall man who is too big to live on earth. Either the path of big government gets reversed, or we don’t come out of this decline.
The chart erroneously shows a surplus in 2000. Our national debt shows an increase for that year.
Where did the notion that the government ran surplusses in the late 90s under Clinton come from?
Below is data derrived from the Bureau of Public Debt's website where one can obtain the "Debt to the Penny" any day in the recent past. In the table below I found the "Total Public Debt Outstanding" on the last day of September for each year and then had Excel calculate the year to year deficit in billions.
ML/NJ
Year "Debt to Penny" at end of fiscal year Deficit (billions) 1995 4,973,982,900,709.39 1996 5,224,810,939,135.73 250.8 1997 5,413,146,011,397.34 188.3 1998 5,526,193,008,897.62 113.0 1999 5,656,270,901,633.43 130.1 2000 5,674,178,209,886.86 17.9
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in 2008, the private sector economy shrunk by 15%. Yet the GDP declined by only 300 billion?
The government stimulus painted over this little fact with spending that shifted the government’s portion of the GDP from around 35% to 43%.
This was an attempt to hide the fact that this was a depression level decent of our economy. Our financial wizards have said that they can regulate away economic depressions. It kind of worked, but we sold our children into slavery to buy time.