George W. Bush inherited the greatest surplus in the history of the United States, and within months turned it into one of the greatest deficits. He accomplished this with a GOP House and a GOP Senate. Explain how this represents good fiscal stewardship?
2006-10-16 14:47:27 · 14 answers · asked by Anonymous in Politics & Government ➔ Politics
Get ready, anything is apt to happen with this question, it wasn't discussed on Rush Limbaugh, the repukes in here will be winging it, all alone to think for themselves. Scary thought. Scary indeed. Oh and to answer your question, he give the richest people in the country a tax cut. That was the beginning of the end of our prosperity.
2006-10-16 14:53:03 · answer #1 · answered by Anonymous · 1⤊ 3⤋
I love the fact that you don't look very deep into economics! Many felt that some how dot-com changed the business cycle.
Your "friend" Mr. Clinton was lucky to have dot-com reach the level of commercialism on his watch. He didn't conceive, enable, facilitate, nurture, or finance it. He didn't do what was necessary to enable the military infrastructure to be down sized on his watch. It would have been very hard not to have a surplus on his watch, but he tryed. The Republicans kept him from creating more entitlements.
At the end of his watch dot-com was hitting bumpy roads. ENRON & others had created infrastucture that didn't have paying demand for. The telecommunications industry was being hit with the same problem.
If the housing boom colapses before a growth area occurs in another wealth creating section the economy will hit the skids. If gold & collectables is the next area of wealth storage the economy will stomble.
2006-10-16 15:36:48 · answer #2 · answered by viablerenewables 7 · 1⤊ 0⤋
Within months? How many months?
Economics in our country take some time to catch up, you know.
For example, the Great Depression occurred about 9 months after Hoover was inaugurated. However, it was due to the policies of Coolidge and Harding. It had nothing to do with Hoover...yet Hoover was blamed.
Therefore, if the economy started to tank within a year of Bush's inauguration (which it did, and prior to that!) it's not Bush's fault.
The rest is due to the wars in Afghanistan and Iraq.
BUT, projections following the current trends in the stock market show that we're in for a better economy. There are already signs of it improving.
AND the deficit is shrinking. It'll take some time, but it'll happen.
2006-10-16 15:02:44 · answer #3 · answered by The_Cricket: Thinking Pink! 7 · 1⤊ 1⤋
You haven't read a newspaper lately. All economic indicators are up, including government revenues. This despite 9-11, hurricane Katrina, Enron and the recession Bush inheritted from Clinton.
God bless G.W.!
2006-10-16 15:47:53 · answer #4 · answered by Andrew 3 · 1⤊ 1⤋
Saying Bush inherited a "surplus" is absolutely moronic. No offense, but go look up the real facts and figures on this country's MASSIVE amount of federal debt and annual deficits before you try and pose such a question.
2006-10-16 14:52:55 · answer #5 · answered by fearslady 4 · 2⤊ 3⤋
We have a little thing going on right now called the War on Islamic Terrorism. Were having to adapt our conventional Military that was made to fight the Russians into a force that can fight terrorist. This process is rather expensive.
2006-10-16 14:51:22 · answer #6 · answered by GloryDays49ers 3 · 2⤊ 1⤋
9/11
2006-10-16 14:51:06 · answer #7 · answered by scarlettt_ohara 6 · 3⤊ 2⤋
If the gov. had a big surplus doesn't that mean it took ALL our money, after all Clinton put us in a recession. It took him 7 years to undo Reaganomics.
2006-10-16 15:23:19 · answer #8 · answered by Anonymous · 2⤊ 1⤋
$41 billion in contracts to Halliburton for a war in Iraq
2006-10-16 14:52:35 · answer #9 · answered by Anonymous · 2⤊ 1⤋
spending more than the govt takes in can be a good thing in the long run if the money were spent wisely. time will tell.
2006-10-16 14:50:09 · answer #10 · answered by Brand X 6 · 1⤊ 1⤋