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Author: ericde One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 176840  
Subject: Re: Bush's Fiscal Fiasco Date: 2/10/2004 2:00 PM
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The Federal Gov. seems to go by decade.

80's: blew the bank account, ran up the credit cards
90's: imposed some discipline, got a debt reduction plan in place
00's: total relapse and binging


This is a mistake (or in the terms of democrats, a lie).

Net change in the deficit (in millions):


1789-1849 +70
1850-1900 -991
1901-1909 -26
1910's -13,381
1920's 1,025
1930's -2,108
1940's -2,340
1950's -15,968
1960's 3,543
1970's -43,568
1980's -226,286
1990's -95,632


The last decade with debt reduction was in the 1960's. Before that, you would have to go back to the 1920's. Before that - the first 60 years of the country's existence.


John,

You suffer from deficit/debt confusion, but so do many people.

This is not a partisian issue (unless sanity is a political party). Taking responsibility for our government's finances started in the George Bush 41st administration. It takes a long hard work to turn those kinds of deficits around. That was clearly happening.

I'm happy to talk about spending cuts, SS and Medicare are no sacred cows for me, but you have to do more than talk. Totally wasteful spending has been rampant in this administration

Finally the Prez on "Meet the Press" completely proved my point. In his view everything is someone elses fault. The disapointing recovery from this last cyclical recession, is just a symptom of a government unwilling to do hard work, take responsibility and make sacrifices.

Cheers,
Eric
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