Originally Posted by mcbear
I have included a chart to point out when the deficit started going down (92). It is from the OMB which tends to be accurate. You are correct that 9/11 changed the economy and that is where a true Conservative president would have tightened the purse strings and kept things under control.
My memory tells me that W, Rummy and Co. told the American people, Congress and the UN that Iraq (who did NOT attack us) would be a 90 day NO BRAINER and cost no more than $15-20 Billion [really well documented statements]. Piss poor planning and a total lack of experience showed that we were snowed, both by poor intel and by false bravado.
You are correct that the right approach is to eliminate alot of pork projects which are clogging the system. I also agree that all three branches do not need to be of the same party, it causes, shall we say fundy problems
Your chart is pretty, but according to this article the debt increased by109 billion dollars in 1998......
The federal government had a surplus of $70 billion in fiscal year (FY) 1998 while
total federal debt increased by $109 billion. Why did the debt increase even though the
government had a surplus? The answer involves understanding what drives changes in
the two components of federal debt, debt held by the public (such as that held by
individuals, pension funds, banks, and insurance companies, among others) and debt held
by government accounts (mostly in federal trust funds, such as Social Security). Debt
held by the public declines when the government has a surplus. But when the
government accounts that hold federal debt have surpluses, these surpluses increase debt
held by government accounts. If the debt held by government accounts increases faster
than debt held by the public decreases, total federal debt rises.
For the next decade, the expected overall surpluses will reduce the amount of debt
held by the public. Debt held in government accounts will continue increasing since these
accounts will continue to run surpluses. Because of this, total federal debt will continue
growing through FY2005 and then fall through FY2009 (the end of the projection
period), according to the CBO projections.