Originally Posted by
7576United
Again, don't get me wrong I adamantly support a constitutional amendment requiring the federal budget to be balanced. (with certain limited exceptions) But you can't just go around screaming the sky is falling (which it may eventually) and making up figures and mixing up terms. I suppose you think we're in a recession as well.
You are correct, I am wrong, I mixed up the terms.
Regarding national debt to percentage of GDP, right now it's about the same as when the last bush left office. Where was it when Clinton left office?
Actually in 07' it was just over half that of 92'. 4.7 vs. 2.6. (percentage deficit) As far as Clinton (while keeping in mind there was no Cold War or post 9/11 spending and revenue loss to deal with) he did do better on average with the budget -1.35 average deficit percentage vs -2.15 for GW but after an inherited recession, two wars, and the post 9/11 slowdown that ain't bad. Careful in giving olé Willy too much credit for the budgets though. Newt Gingrich was the author of those three balanced budgets. (The first two consecutive since 1957 and the first three consecutive since 1949) Clinton vetoed the welfare spending cuts three times before he signed it. NG and the boys shut down the government numerous times to keep spending in check. (the last time I had much use for Congress, Republican or otherwise.) Bill does get some credit though as he did eventually sign them.