Those four years of so-called balanced budget were on the backs of adding federal payroll tax revenues (Social Security, Medicare etc.) to the general budget.
As much as I have liked Newt for his ability to belt the ball out of the political park, and as much as I have come to pray that Newt takes down Romney, Newt is shrewd enough in politics to take credit for a mirage the same as Romney.
The fact is that while the GOP Congress of Newt’s tenure was ‘balancing’ the budget, the telltale sign of a mirage was in watching the National Debt increase.
Other factors that led to balanced budgets were Clinton’s reckless refinancing of the 30 year debt to the lower interest 5 year debt and the internet revolution spurring the stock market to new heights adding considerable capital gain tax revenues to the federal coffers.
So although you may be off in praising Newt on balancing a budget, you have done a yeoman’s job at bringing to light the true nature of Bain Capital and their standard bearer Romney.
The way I would characterize Romney’s bellowing his accomplishment at Bain Capital is to say that it is no different than a ‘vulture standing tall with belly full”.
Capitalism is a good thing for people but Vulturism is not one of its prime attributes. In fact Newt would do well to educate (and he is a superb educator) that Capitalism is distinct from its evil twin of Vulturism, and that Bain Capital should change its name to what it truly represents, Bain Vulturism.
However this election cycle turns out, we have to address the serious problem of open primaries that allow Democrats to choose Rino candidates for us. One grassroots solution in the states with initiative power is to gather enough signatures to get it on the ballot, FORCING state Republican leaders to set stricter rules forbidding crossover votes.
Another fatal problem is our tendency to run multiple conservatives who divide the vote, leaving the liberal to win with a fraction of the total vote.
Frankly, I am steamed at the Republican party for getting us into this mess.
” - - - The fact is that while the GOP Congress of Newt’s tenure was ‘balancing’ the budget, the telltale sign of a mirage was in watching the National Debt increase.”
Well said.
The ONLY way to watch the Total National Debt decrease is to cut year-to-year, Baseline Federal spending.