Sources. The U.S. Tresury, Wikkapedia
The purpose of this blog is to bring light into the village. So much of modern life is shrouded in darkness, ignorance and plain inhumanity. The musings on this page seeks to illuminate that darkness, through humor, observation, music and art. The goal is engage one another in a positive light. The Light illuminates a path for us all.
Wednesday, March 10, 2010
Illuminating the U.S. Deficit: The United States has always ran a deficit, beginning from the birth of the nation to the present. Over two hundred years! There have only been two U.S. Presidents to leave a zero deficit or budget surplus. Andrew Jackson achieved a zero deficit in 1835. Bill Clinton averaged a 1.7 billion dollar yearly surplus, leaving office with a 200 billion dollar budget surplus. Notably both men are Democrats. The first President to exceed a billion dollar deficit was Warren G. Harding a Republican. It is important to note that after World War II and the Great Depression President Truman through President Carter dealt effectively with the deficit. In 1980 the U.S. Deficit was 980 Billion Dollars. When President Reagan and Bush left office twelve years later the U.S. Deficit was 5 Trillion Dollars. In addition to exploding the Deficit these gave is the largest Tax increases in U. S. History. As previously indicated Bill Clinton was a Deficit Hawk. When "W" take office he explodes the debt with unpaid for tax cut in 01' and 03' and 1. 8 Trillion Dollar to the Deficit. Two unfunded Wars, the Iraq War 3 Trillion to the Deficit and still counting. Afghanistan in the Trillions. National debt when "W" leaves office, 10 Trillion Dollars. Under "W"'s leadership and Republican rule the Deficit exploded 77%, the largest increase in the nations history. The next time a politician talk about deficit listen to who' s talking and remember there is a history to look at.
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