Tuesday, March 5, 2013

Who is Responsible for the $16.6 Trillion Mountain of Federal Debt? Most fiscally conservative president since 1980 was Clinton!





The right wing Republican blogosphere and its websites are exploding this week with juicy headlines like:

NATIONAL DEBT EXPLODES $6 TRILLION UNDER OBAMA  Breitbart

WOW!  Obama and the Dems are evil doer big spenders.  Forget that all spending bills must originate in the Republican controlled House of Representatives.  Right now, the National Debt Clock discloses federal debt in the amount of $16.6 trillion.

Let's get to the truth of the matter and learn the source of all that debt.  When Reagan was elected in 1980, the national debt had not yet crossed the trillion dollar threshold.  But under Reagan, it didn't take long for the debt to start piling up in a big way. Bush 41 massively ratcheted up Reagan era spending.  Additions to the national debt since 1980.

Republican created federal debt:

Reagan 2 terms     $1.7 trillion
Bush 41                 1.6 trillion
Bush 43                 4.9 trillion
Bush 43                 1.3 trillion carryover deficit debt inherited by Obama and funded with debt.

Total                     9.5 trillion or 57% of the $16.6 debt mountain is attributable to Republicans

Who was America's most fiscally conservative president since 1980?  Bill Clinton!  Bill Clinton spent less in two terms than Bush 41 spent in one term.

Democrat created federal debt:

Clinton 2 term     $1.5 trillion
Obama to date      5.6 excluding Bush 43 carryover deficit inherited by Obama

Total                    7.1 Trillion or 43% of the $16.6 trillion debt mountain attributable to Democrats.

Even more astounding is that two presidents named Bush are in fact responsible for a whopping $7.8 trillion of debt or 47%.  Bush 41 and Bush 43 are indeed directly responsible for nearly half of the mountain of federal debt.

With Jeb Bush unofficially declaring himself a candidate for 2016, one thing is clear.  America cannot afford another Bush as president.

Bad as Bush 41 and Bush 43 were as big spending lovers of debt, Jeb definitely holds the potential to make them look like fiscal conservatives.  Very recently Jeb Bush publicly stated that his model of governance is LBJ and his Great Society, and he further stated that he supports raising taxes.

JEB BUSH: I WOULD GOVERN LIKE LYNDON JOHNSON AS PRESIDENT Breitbart
Former Florida Governor Jeb Bush said he would strive to be like Lyndon Johnson, the Democrat famous for expanding the U.S. welfare state through the "Great Society," if he were elected president.
Jeb Bush says revenue increase could be part of budget deal Washington Post

Fiscal conservatives have abandoned the Republican Party in droves,  In fact, it's fair to state that the Republican Party is literally disintegrating. No political party can perpetually betray its core ideology without suffering the consequences at the ballot box.

But the Republican Party isn't just a total disaster at the presidential level.  At the congressional level it's just as bad and possibly worse.

The Tea Party Republicans Spent More Than the Dems They Replaced.
Can you hear the screeching roars of the Tea Party Republicans accusing the Dems of being socialists, commies, fascists, Marxists, big spenders and a whole lot worse?
Well, as it turns out, the Republicans and the Tea Party crop of Republican Congress Critters that sailed into the District of Crime in January, 2011 to clean up the Democrat fiscal mess turned out to be bigger deficit spending hawks than the Democrats they replaced.
Supporters of small governance, low taxes and fiscal conservatism do not have a place in the Republican Party.  The Republican Party is 100% committed to growing government power, growing the deficit, growing the debt, growing more taxes and growing the welfare-warfare state.

While it's absolutely true that the Dems are really no different than the Republicans, the Dems are more honest because they tell you upfront that they fully intend to financially rape and plunder you.  What the Dems do outright, the Republicans do by stealth.

Meanwhile, every fiscal conservative should implant in their brain the stone cold reality that the Republicans are responsible for 57% of the federal debt mountain and that 2 Republican presidents named Bush are directly responsible for 47% of the big pile of debt.  No Democrat comes close to those monumental achievements.

24 comments:

  1. I am so glad that I found your blog. Finally someone who isn't afraid to speak the truth. Please be careful!!!! You are going to make lot's of friends but you will also make plenty of enemies.

    ReplyDelete
    Replies
    1. Judy you're an astute follower of politics and are completely aware that it wasn't Clinton's fiscal conservatism but Newt Gingrich's Congress that reduced the deficit. Clinton fought them all the way.

      Delete
  2. LOL Unknown. Anybody who has an opinion on anything has enemies. I'm used to it.

    ReplyDelete
  3. IMPORTANT to watch ENTIRE doc but in answer to the headline question, GO TO the 2:03 point. It should raise your blood pressure a few notches so beware if you have high blood pressure problem

    http://youtu.be/HfpO-WBz_mw

    ReplyDelete
  4. You're misleading. Spending bills must originate in the house, but you specifically stated the "republican" led house, and neglected to point out all the years that the house was controlled by democrats under all those presidents. From 1957 - 1997, the house was led by democrats. That includes 17 years worth of those presidents you mentioned, and much of that debt originated with them. There was then 12 years of republicans in control, then 2 terms (4 years) of democrats during the final 2 years of GWB and the first 2 years of Obama (the same time the debt exploded the most). I am not trying to stand up for anyone, republican or democrat, but the way you wrote that was misleading, and you seem to point at republicans more. By your own words, spending originates in the house. Democrats are responsible for the most spending. It's just that more of it happened under republican presidents. To me, that means they are both on the same side...the side that screws the people.

    ReplyDelete
  5. Never mind the "Fiscal Cliff" .... it's the SKYSCRAPERS we really should be worrying about! Please share if you care.

    Sometimes words are not enough to get a point across -- in this case is quite striking

    http://demonocracy.info/infographics/usa/us_debt/us_debt.html

    ReplyDelete
  6. Techmike, Republican presidents have veto pens, even if they choose never to use them. Also, Republicans overwhelmingly endorse bankrupting the country in service of the military industrial complex that it worships as a deity.

    I used to vote Republican but quite voting R in 2006. I will vote for anybody of any party who opposes the wars and the banksters. The Federal Reserve and America's evil empire have ruined the nation.

    Happily, I'm now an independent voter and have no use for either the R's or the D's.

    ReplyDelete
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  9. The only reason Clinton appeared fiscally conservative is due to Newt Gingrich and the Republican Congress. If Clinton had his way we would have gotten Clintoncare instead of Obamacare which would have costed trillions.

    ReplyDelete
  10. The history of the United States public debt started with federal government debt incurred during the American Revolutionary War by the first U.S treasurer, Michael Hillegas, after its formation in 1789. The United States has continuously had a fluctuating public debt since then, except for about a year during 1835–1836. To allow comparisons over the years, public debt is often expressed as a ratio to gross domestic product (GDP). Historically, the United States public debt as a share of GDP has increased during wars and recessions, and subsequently declined.

    The United States public debt as a percentage of GDP reached its highest level during Harry Truman's first presidential term, during and after World War II. Public debt as a percentage of GDP fell rapidly in the post-World War II period, and reached a low in 1973 under President Richard Nixon. Debt as a share of GDP has consistently increased since then, except during the terms of presidents Jimmy Carter and Bill Clinton. Public debt rose during the 1980s, as President Reagan cut tax rates and increased military spending. It fell during the 1990s, due to decreased military spending, increased taxes and the 1990s boom. Public debt rose sharply in the wake of the 2007–08 financial crisis and the resulting significant tax revenue declines and spending increases. If Reagan had not ballooned the Military Budget the Cold War would have never ended and Eastern and Western Europe would not be united. Reagan also cut our Nuclear Stockpile by 25%, you never hear about that.

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  11. Clinton was low because of newt Gingrich and the contract with America.

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