Factual Observations about the US Federal Debt
Tuesday, March 6th, 2012
Let’s look at this data and what it shows.
• The vaunted “Clinton Surplus” was, in fact, the work of a GOP House that was willing to fight for fiscal sanity (current Ohio Governor John Kasich was one of the architects of the surplus); in addition, two events conspired toturbocharge the economy — in spite of Clinton, not because of him.
• Liberals like to talk about Reagan’s deficits, but they ignore the fact that every budget Reagan ever sent to the Democrat-controlled House was declared “dead on arrival”. Reagan supported a Balanced Budget Amendment, sought to eliminate useless agencies like the Department of Education, and otherwise believed in the U.S. spending within its means.
• Since the Democrats took control of Congress in 2007, they have jammed through the most fiscally irresponsible spending programs in world history (I won’t use the word “budget”, because they’ve refused to propose a budget for roughly 1,029 days).
In short, Democrats never propose less spending than Republicans — unless we’re talking about defense. And now, after four years of Democrat-controlled spending, the federal government is forced to borrow 40 cents for every dollar it spends.