The Mudcat Café TM
Thread #118076   Message #2550456
Posted By: pdq
27-Jan-09 - 05:02 PM
Thread Name: BS: Lucky to have Jimmy Carter
Subject: RE: BS: Lucky to have Jimmy Carter
Perhaps a little reality is good for you...maybe not:


"While not defending the increase of the federal debt under President Bush, it's curious to see Clinton's record promoted as having generated a surplus. It never happened. There was never a surplus and the facts support that position. In fact, far from a $360 billion reduction in the national debt in FY1998-FY2000, there was an increase of $281 billion.

Verifying this is as simple as accessing the U.S. Treasury (see note about this link below) website where the national debt is updated daily and a history of the debt since January 1993 can be obtained. Considering the government's fiscal year ends on the last day of September each year, and considering Clinton's budget proposal in 1993 took effect in October 1993 and concluded September 1994 (FY1994), here's the national debt at the end of each year of Clinton Budgets:

Fiscal
Year        Year
Ending        National Debt        Deficit
FY1993         09/30/1993         $4.411488 trillion         
FY1994         09/30/1994         $4.692749 trillion         $281.26 billion
FY1995         09/29/1995         $4.973982 trillion         $281.23 billion
FY1996         09/30/1996         $5.224810 trillion         $250.83 billion
FY1997         09/30/1997         $5.413146 trillion         $188.34 billion
FY1998         09/30/1998         $5.526193 trillion         $113.05 billion
FY1999         09/30/1999         $5.656270 trillion         $130.08 billion
FY2000         09/29/2000         $5.674178 trillion         $17.91 billion
FY2001         09/28/2001         $5.807463 trillion         $133.29 billion

As can clearly be seen, in no year did the national debt go down, nor did Clinton leave President Bush with a surplus that Bush subsequently turned into a deficit. Yes, the deficit was almost eliminated in FY2000 (ending in September 2000 with a deficit of "only" $17.9 billion), but it never reached zero--let alone a positive surplus number. And Clinton's last budget proposal for FY2001, which ended in September 2001, generated a $133.29 billion deficit. The growing deficits started in the year of the last Clinton budget, not in the first year of the Bush administration."


{the 1.4 trillion added to the National Debt in 8 years of Bill Clinton's budgets is about the same as the 1.6 trillion dollars added under the 8 years of Ronald Reagan...}