For the last 30 years I have only voted for Presidents who reduce the deficit...

LMAOROG

To Establish Fiscal Discipline, President Clinton:

• Enacted the 1993 Deficit Reduction Plan without a Single Republican Vote.

The plan included more than $500 billion in deficit reduction.

"The deficit has come down, and I give the Clinton Administration and President Clinton himself a lot of credit for that. [He] did something about it, fast. And I think we are seeing some benefits."
— Paul Volcker, Federal Reserve Board Chairman (1979-1987), in Audacity, Fall 1994

"Clinton's 1993 budget cuts, which reduced projected red ink by more than $400 billion over five years, sparked a major drop in interest rates that helped boost investment in all the equipment and systems that brought forth the New Age economy of technological innovation and rising productivity."
— Business Week, May 19, 1997

No, the true heroes of deficit reduction were, first, President Clinton, whose 1993 budget—passed without a single Republican vote—raised taxes on the wealthy and dramatically altered the nation’s fiscal path, and second, a steadily improving economy. Those two factors, and particularly the interaction between them, account for virtually the entire fiscal improvement. Contrary to the Gingrich assertion, legislation passed by the Republican-led Congress of 1995 through 1997 combined to actually worsen the fiscal situation—albeit slightly.

...OBRA, which mainly raised taxes on wealthy people but also raised the gas tax, extended limits on discretionary spending and cut back on some mandatory spending, was signed into law on August 10, 1993. Just five months prior, the Congressional Budget Office projected a 1998 deficit of $360 billion. One month after the bill passed, the CBO’s new estimate of the 1988 deficit was down to $200 billion. The CBO explained the dramatic improvement this way: “For the first time in two and one-half years, the deficit projections have taken a decided turn for the better… The reconciliation act deserves most of the credit for the improvement over the long run.” Indeed, of the $160 billion improvement from March to September of that year, CBO directly credited OBRA with $143 billion. In fact, OBRA turns out to have been the single largest contributor to the 1998 surplus.

https://www.americanprogress.org/article/not-so-fast-newt/


WE SAW HOW FISCALLY CONSERVATIVE THE GOP WERE UNDER RONNIE, DUBYA AN DONNIE!

 

September 1993

The Omnibus Budget Reconciliation Act of 1993 has made a substantial dent in the annual budget deficits and in the accumulation of federal debt. Last winter, CBO projected that the deficit would grow from $290 billion to $360 billion over the 1992-1998 period, and that debt held by the public would swell from 51 percent to 62 percent of GDP. Now, the deficit is projected to fall to $200 billion over those years, and the debt is expected to reach only 55 percent of GDP.

...The Budget Enforcement Act of 1990 capped discretionary budget authority and outlays through fiscal year 1995, and the Omnibus Budget Reconciliation Act of 1993 extended the caps through 1998. Under these caps, nominal discretionary outlays in 1998 would be no higher than in 1993; in real terms, discretionary outlays would be cut by 14 percent over this period.


https://www.cbo.gov/sites/default/f...3-1994/reports/09-1993-outlookentirerpt_0.pdf

THAT'S PAY-GO (NO INCREASE IN SPENDING WITHOUT CUTS OR REVENUES) THE GOP GOT RID OF UNDER DUBYA AND DONNIE!!!!

PAYGO, which stands for “pay as you go,” is a budget rule requiring that tax cuts and mandatory spending increases must be offset (i.e., “paid for”) by tax increases or cuts in mandatory spending.

 

Hahaha! The Republican congress balanced the budget while Clinton was getting bj's in the White House.......

 

The fact remains that only when Republicans hold both houses of Congress have deficits declined year over year.

 

That's not what CBO said

 

Yes, it's not the guy with the pen in the W/H, it's stuff Congress does that IMMEDIATELY balances the budget


The CBO explained the dramatic improvement this way: “For the first time in two and one-half years, the deficit projections have taken a decided turn for the better… The reconciliation act deserves most of the credit for the improvement over the long run.” Indeed, of the $160 billion improvement from March to September of that year, CBO directly credited OBRA with $143 billion. In fact, OBRA turns out to have been the single largest contributor to the 1998 surplus.

https://www.americanprogress.org/pr...-1998-budget-surplus-clinton-and-his-economy/

 

I have probably looked at it more indepth that anyone on this forum and here is what I found:
When we have a split government, we spend less. When one side (either side) controls Congress and the WH, we spend more. If you think that it's only the POTUS or only one side, then you haven't done your research and are fooling yourself.

Yes, we have a spending problem. If you make $100k per year and you spend $150k per year, every year, then you have a spending problem.

 

CBO report from September 1997 explain: “Over the past four years, growth in revenues has consistently outpaced that of gross domestic product (GDP) by 2 to 3 percentage points. Several factors have contributed to that outcome. The tax increases enacted in the Omnibus Budget Reconciliation Act of 1993 were the main causes in 1994 and 1995. Also, the personal and corporate income tax bases grew faster than GDP over the period, especially in 1996 and 1997. Higher income taxpayers experienced above-average income growth, which boosted revenues because their income is taxed at higher marginal rates.”

https://www.google.com/books/editio...in+1996+and+1997.&pg=PA32&printsec=frontcover


In other words, the rapid growth in personal and corporate income, especially among those at the top of the income ladder, interacted with the higher tax rates that Clinton and the Democratic Congress enacted in 1993. The result was even more revenue flowing into the treasury than just the economic factors or the new tax system alone would have predicted.

All together, OBRA plus direct economic factors, plus even higher than expected revenues from their interaction combined to produce a $311 billion fiscal improvement. That $311 billion wiped away more than 85 percent of the deficit. No help from Newt Gingrich required.


https://www.americanprogress.org/article/not-so-fast-newt/

 

Hahaha! The Clinton propaganda wing......

 

And if you make $100,00 a year and decide to take the last 3 months off every time a GOP Prez is in office, and go on tropical vacations your income declines as you spend more. Ronnie, Dubya and Donnie are those examples

 

Math is hard for the right

 

Truth is hard for the partisan.

 

PAYGO, which stands for “pay as you go,” is a budget rule requiring that tax cuts and mandatory spending increases must be offset (i.e., “paid for”) by tax increases or cuts in mandatory spending.

Can Reconciliation Be Used to Increase Deficits?

While reconciliation has traditionally been thought of as mostly a means to enact deficit-reduction legislation, Congress has used it occasionally to expedite passage of legislation that increases deficits. The most notable examples were the 2001 and 2003 reconciliation bills, which enacted tax cuts based on proposals by President George W. Bush; the reconciliation bill that enacted tax cuts in 2017; and the American Rescue Plan in 2021.

In 2007, when Democrats took control of the House and Senate, both chambers adopted rules designed to prohibit use of reconciliation for measures that increase deficits. When Republicans took the House in 2011, they replaced the House rule with one that placed no restrictions on revenue provisions that increase deficits but prohibited reconciliation instructions that would produce a net increase in mandatory spending, regardless of the reconciliation bill’s overall impact on deficits. That House rule was repealed at the beginning of the new Congress in 2021.

The Senate rule against deficit-increasing reconciliation bills was repealed in 2015, as part of the budget resolution for fiscal year 2016.

https://www.cbpp.org/research/federal-budget/introduction-to-budget-reconciliation

 

Can't refute CBO numbers or the FACT that GOP gutted the paygo rules to inact the 2001, 2003 and 2017 tax cuts that cost US revenues?

 

Since when is opinion considered math?

 

No fact there. Just opinion and spin.

 

Opinion?

CBO report from September 1997 explain: “Over the past four years, growth in revenues has consistently outpaced that of gross domestic product (GDP) by 2 to 3 percentage points. Several factors have contributed to that outcome. The tax increases enacted in the Omnibus Budget Reconciliation Act of 1993 were the main causes in 1994 and 1995. Also, the personal and corporate income tax bases grew faster than GDP over the period, especially in 1996 and 1997. Higher income taxpayers experienced above-average income growth, which boosted revenues because their income is taxed at higher marginal rates.”

In other words, the rapid growth in personal and corporate income, especially among those at the top of the income ladder, interacted with the higher tax rates that Clinton and the Democratic Congress enacted in 1993. The result was even more revenue flowing into the treasury than just the economic factors or the new tax system alone would have predicted.

All together, OBRA plus direct economic factors, plus even higher than expected revenues from their interaction combined to produce a $311 billion fiscal improvement. That $311 billion wiped away more than 85 percent of the deficit. No help from Newt Gingrich required.


https://www.americanprogress.org/article/not-so-fast-newt/

 

Big Bad Government never shrinks willingly.

 

No the guy with the pen hasn't really mattered sense Gerald Ford vetoed a pork ladened interior bill in 74. Clinton was willing to compromise with Republicans he really had no choice. It was either that or shut down the government.

 

You might notice there's a slight discrepancy between their number and yours

 

And when I asked him about it and he finally decided to address the post quite some time later..... His reply?

" Already addressed in the op ".....lol

 

Did it ever occur to you that I did look it up and the screenshot is from my phone?

Where on Earth do you think I just randomly found a screenshot so conveniently related to the topic? Do you think I just have a million random screenshots ready to go on any given topic on any given day? Perhaps I called my friend over and said hey man I need to hold your phone for that screenshot you got?...... Yes it was my friend called the internet and I looked it up.

The Op DID make it up and he provided no source for his information.

 

Quite a change from what the Obama administration did for his successor.

He did everything he could to sabotage the man. Including laying the groundwork for the Russia collusion delusion and having the government unjustly spy upon his campaign and transition.

 

Don’t worry , Biden admin is doing the same to Trump campaign now, spying, bringing in charges, listening in to their conversation.

There is nothing Trump or MAGA can do about it. The sooner Republican accept the fact that Democrats are in power of American hegemony the sooner they can accept their fate; Defeated Party which will diminish it’s power every election cycle until there is no Republican party.

 

I have no clue what you got it, but it missed the mark by a mile.