A "meme" I saw on facebook this morning asked this question.
I was very surprised at the answer.
While it is debatable as to whether the credit goes to Congress or the Presidents, we know that the last 3 Democratic Presidents ALL decreased the annual deficit. These Presidents include:
Barrack Obama
Bill Clinton
Jimmy Carter
I am curious as to how many people get it right as to who the last Republican President was that decreased the annual deficit.
The reason I think this is important is because public opinion of this is extremely backwards as compared to reality.
This is adorable.
If I steal 100 dollars out of your wallet and give you 10 back, are you up 10 dollars or down 90?
That's certainly a philosophical headscratcher, but if you give me $10 back, I'm certainly, historically speaking, $10 richer than I'd be if a Republican was President and took my original $100 and then took another $20.This is adorable.
If I steal 100 dollars out of your wallet and give you 10 back, are you up 10 dollars or down 90?
Nice non sequitur but pretty much a fail at answering the question as to which Republican President last reduced the deficit -- but not unexpected
The highest under Bush 43 was a half trillion lower than the lowest under Obama.
Oh oh, I know! This is where you shock us into discovering the truth so that hopefully we refuse to support candidates that claim to support lower spending.
Did I win a tootsie roll?
This is why I find politics amusing, the blatant misrepresentations. Don't worry, both sides do it, you just happen to be the one doing it now.The highest under Bush 43 was a half trillion lower than the lowest under Obama.
If you chalk up the entirety of the FY2009 budget to Obama's column, a budget in place for roughly 8 months prior to Obama taking office, sure. There simply wasn't a conceivable scenario in which we would not run deficits of historical magnitude in said year.The highest under Bush 43 was a half trillion lower than the lowest under Obama.
Do you not understand the meaning of the word REDUCE?
Did or did not the deficit increase "under Bush 43"?
Has the deficit decreased during Obama's term?
Two simple questions, why are you unable, or is it unwilling, to answer.
huh?Fine, you want an answer? Bush 43, in 2007.
huh?
Are you saying he decreased his own deficit from his previous year?
Not exactly what the question was about but on a technical wording level maybe I'll let you slide with that.
Another thing I noticed is that you do not seem to be attributing each President's first year deficit to his predecessor as is generally the way it is tracked.
I liked your initial metaphoric, tax vs debt analogy though. By that were you saying that you do not care about the debt so much as long as the super wealthy pay less tax?
It's not an excuse to point out fiscal year 2009 budget was proposed and adopted under Bush, started four months before Obama and contained the worst economic recession in 70 years which resulted in much lower tax revenue than was expected when the budget was put into place.Well, when I tried to make a relevant point about Obama's lowest point being higher than Bush 43's highest point, every liberal whose ideology is stronger than his economic sense came out of the woodwork and started making deflections, red herrings, and excuses.
Do you not understand the meaning of the word REDUCE?
Did or did not the deficit increase "under Bush 43"?
Has the deficit decreased during Obama's term?
Two simple questions, why are you unable, or is it unwilling, to answer.
Fine, you want an answer? Bush 43, in 2007.
Your turn. Wow me with your economic aptitude.
NOBODY expects the Spanish Inquisition! Our chief weapon is surprise...surprise and fear...fear and surprise.... Our two weapons are fear and surprise...and ruthless efficiency.... Our *three* weapons are fear, surprise, and ruthless efficiency...and an almost fanatical devotion to the Pope.... Our *four*...no... *Amongst* our weapons.... Amongst our weaponry...are such elements as fear, surprise.... I'll come in again.
CBO drops 2013 deficit estimate to $642 billion
The CBO projects a $642 billion budget deficit for fiscal year 2013, down more than $200 billion from its February estimate and the smallest annual shortfall since 2008. It is the lowest level of deficit spending to date under President Obama, who faced $1 trillion or more in annual deficits during his first term.
The lower deficits are also a result of decreased federal spending, which may have the long-term impact of slowing economic growth.
Clearly you're not familiar with the present Republican position on the sequester.Sequester, any one?
Ironically, accounting seems to be the issue at hand here, more so than ideology.Well, when I tried to make a relevant point about Obama's lowest point being higher than Bush 43's highest point, every liberal whose ideology is stronger than his economic sense came out of the woodwork and started making deflections, red herrings, and excuses.
Your numbers were in reflection of Obama in comparison to himself, as was mine with Bush's.
Clearly you're not familiar with the present Republican position on the sequester.
The sequester is something this country needs which will not affect anything, unless it affects it negatively, at which point it was Obama's idea. But, like I said, it will not affect anything, so if it does affect something negatively it's only because Obama wants to punish Americans with this thing our country needs, which, again, was his idea.
Ironically, accounting seems to be the issue at hand here, more so than ideology.
As an accountant, you know that there are many ways to manipulate the overall picture.
Both sides do this. One of the biggest manipulations is with Social Security... Runs a huge surplus, yet because the surplus is spent on bonds, it then creates "debt". The Left seems to not understand this well enough to ever make a point with it, and the Right deceitfully uses it to point and say Social Security is causing "debt".
Anyhow, back to my point...
The 2009 deficit is Bush's, not Obama's. And the same accounting applies to every Presidential term in that the first year belongs to his predecessor.
When a President takes office, a majority of the deficit for his first year is due to things that occurred the year before.
Obama has actually decreased the deficit by a higher percentage than any President in over 60 years if you consider the actual deficit that was handed to him.
Also what is the number attributed to the recession for loss of tax revenue? Isn't it 380 billion?
Compare this to a store manager taking over a store. For that next month, the orders have already been made, contracts signed, utilities already used, advertizements already purchased. The expenses for his first time period are already set in stone by his predecessor.
Government works in a similar way, only it is done by years instead of months.
Bush increased the deficit handed to him.
Obama decreased the deficit handed to him.
Now if you wanted to say, "That was Congress, not Obama", I would not argue with you.
I'm not a Republican. I'm just stating what they seem to believe. Personally, it makes me wonder how Republicans manage to stand with all the twisting they have to do in order to discuss the sequester.Apparently you do not live in an area with a military base or government contractors.
Several people I know, including my tenant, would all beg to differ with you.
The sequester is hurting people severely.
I'm not a Republican. I'm just stating what they seem to believe. Personally, it makes me wonder how Republicans manage to stand with all the twisting they have to do in order to discuss the sequester.
In other words, I find the Republican position completely ridiculous, in nearly every way, not the least of which is the rather hypocritical nature of their position. Go back and read it again, I think you'd enjoy it.
As if there is a difference between the 2 parties?
.
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