Quote from: iluvpie60 on August 23, 2014, 07:15:46 PM

Quote from: zolace on August 22, 2014, 12:36:06 PM

Conservative should stop denying the truth .

lol nice troll thread first off i guess... i dunno.

but anyways, nope. we are more in debt and yes clinton + bush put in this position. clinton inherited a surplus and after his 8 years in office bush inherited debt then bush added to it.

Eh?
Reagan tripled the federal debt during his eight years in office, mainly caused by loss of revenue from tax cuts.
All this to finance enormous tax cuts to the top income bracket, as well as record breaking military spending.
By the time Reagan left, the United States could no longer realistically manage it's debt; the United States could no longer realistically pay back its debt.

Believe it or not, Reaganomics' trickle down theory is based on the Laffer Curve, a theory conceived in 1974 by Arthur Laffer during dinner with Dick Cheney and Donald Rumsfeld.
It was meant to be a campaign platform, since the theory is not supported by any empirical data. But it somehow became the basis of Reagan's economic policy!

By the time Bush Sr. came, the full weight of the situation hit home. The debts were unmanageable, and the projected economic growth from the tax cuts never materialized.
Bush Sr. had no choice but to raise taxes, despite his famous "Read my lips, no new taxes" pledge.

Economically, Clinton is probably the best American president in the 20th century.
The United States experienced the longest period of economic growth in American history during his watch and a record 24 million jobs were created.
More importantly, Clinton presided over three surplus budgets - the only time it has happened since 1969!

He handed Bush Jr. a healthy economy and a vibrant job market.
One of the first economic decisions by Bush Jr. after coming into office was to enact a new round of tax cuts, which ultimately cost the federal government at least $1.8 trillion.
Once again, the projected benefits from the cuts never materialized. The federal debts got larger though, along with annual interest payments.
Bush Jr. also launched two credit card wars, the costs which are still being paid to this day.