If you are Senator Lee, why are you using this username?This video really explained our spending problem for me:
https://www.youtube.com/watch?v=a3GYE9ky__s
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If you are Senator Lee, why are you using this username?
Smells like dirty socks.
This video really explained our spending problem for me
Could you please explain it to me? I don't accept video assignments that aren't associated with some sort of commentary.
The bills are very lengthy with many different parts to it
Its just politics folks.
This is EXACTLY what happened in 1998 under Clinton to balance the budget. … They did it with continuing resolutions year after year until it finally balanced itself due to inflation.
How did he do it? Clinton isn't shy about explaining what happened on his watch. The budget deals he made with the congressional Republicans were significant, but not nearly as significant as the tax increase on the wealthy that he passed, without a single Republican vote, in his first budget in 1993.
Voting to raise taxes on the rich was the crucial step toward fiscal responsibility and a long period of high employment, national prosperity and international prestige. There is no other way to stabilize the budget without inflicting grave damage on our future.(source)
The Clinton years showed the effects of a large tax increase that Clinton pushed through in his first year, and that Republicans incorrectly claim is the "largest tax increase in history." It fell almost exclusively on upper-income taxpayers. Clinton’s fiscal 1994 budget also contained some spending restraints. An equally if not more powerful influence was the booming economy and huge gains in the stock markets, the so-called dot-com bubble, which brought in hundreds of millions in unanticipated tax revenue from taxes on capital gains and rising salaries.
Clinton’s large budget surpluses also owe much to the Social Security tax on payrolls. Social Security taxes now bring in more than the cost of current benefits (source)
>>If you look at the numbers this can clearly be seen as a gradual decrease in the deficit to GDP ratio.
Look at the numbers you've been lying about.
Real spending was up 12.6% 1883-2001. Receipts expanded by 47%.
Debt rose as a result of the tax rate and spending increases in 1993 under Bill Clinton and the Democrats. The CBO an the Clinton administration itself predicted budget deficits in excess of 250 Billion as far as the eye could see even after gutting defense spending. In 1994 the Republicans under Newt Gingrich came in and pushed through reforms designed to balance the budget in 7 years. Bill Clinton said it couldn't be done and fought them every step of the way. The Republicans were in charge with super majorities in both houses. The Democrats had lost so many seats due to Clinton's record low approval ratings the few Democrats who remained didn't even support him. The Republicans got their way and not only balanced the budget in spite of Bill Clinton they did it in 4 years not 7. Bill Clinton was present in 1998 when the Republicans balanced the budget. But being present was about all he did other than attempt to prevent the Republicans from fulfilling their promise in the Contract With America. In 1995 Bill Clinton admitted "balancing the budget is not even one of our priorities". "Crediting Clinton for balancing the budget is like Chicago Cubs pitcher Steve Trachsel taking credit for Mark McGuire's home run record because he delivered the pitch McGuire hit out of the park for his 62nd home run.": Tom Delay
How did he do it? Clinton isn't shy about explaining what happened on his watch. The budget deals he made with the congressional Republicans were significant, but not nearly as significant as the tax increase on the wealthy that he passed, without a single Republican vote, in his first budget in 1993.
Voting to raise taxes on the rich was the crucial step toward fiscal responsibility and a long period of high employment, national prosperity and international prestige. There is no other way to stabilize the budget without inflicting grave damage on our future.(source)
The Clinton years showed the effects of a large tax increase that Clinton pushed through in his first year, and that Republicans incorrectly claim is the "largest tax increase in history." It fell almost exclusively on upper-income taxpayers. Clinton’s fiscal 1994 budget also contained some spending restraints. An equally if not more powerful influence was the booming economy and huge gains in the stock markets, the so-called dot-com bubble, which brought in hundreds of millions in unanticipated tax revenue from taxes on capital gains and rising salaries.
Clinton’s large budget surpluses also owe much to the Social Security tax on payrolls. Social Security taxes now bring in more than the cost of current benefits (source)
>>If you look at the numbers this can clearly be seen as a gradual decrease in the deficit to GDP ratio.
Look at the numbers you've been lying about.
Real spending was up 12.6% 1883-2001. Receipts expanded by 47%.
Clinton lowered Capital Gains taxes.
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