2006-10-20 07:17:15 · 18 answers · asked by godoompah 5 in Politics & Government ➔ Other - Politics & Government
Balancing the budget (and thus not preventing any further debt) And paying off the debt so there is no longer any debt are TWO DIFFERENT things!
2006-10-20 07:24:04 · update #1
What Clinton did was to balance the budget. This just means the government wasn't spending more than it received. This did not erase the debt already accumulated throughout all the previous administrations. So, it is incorrect to say that Clinton had erased our debt. But is correct to say that Bush has increased it through tax cuts and increased spending. So correct them when they say Clinton erased national debt and remind them that he only eliminated the budget deficit.
2006-10-20 07:36:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Clinton balanced the yearly budget, he did not (as you say) erase the debt. From the Treasury dept., here are the figures from Reagan to Bush
Bush
09/30/2005 $7,932,709,661,723.50
09/30/2004 $7,379,052,696,330.32
09/30/2003 $6,783,231,062,743.62
09/30/2002 $6,228,235,965,597.16
09/30/2001 $5,807,463,412,200.06
Clinton
09/30/2000 $5,674,178,209,886.86
09/30/1999 5,656,270,901,615.43
09/30/1998 5,526,193,008,897.62
09/30/1997 5,413,146,011,397.34
09/30/1996 5,224,810,939,135.73
09/29/1995 4,973,982,900,709.39
09/30/1994 4,692,749,910,013.32
09/30/1993 4,411,488,883,139.38
09/30/1992 4,064,620,655,521.66
Bush Sr.
09/30/1991 3,665,303,351,697.03
09/28/1990 3,233,313,451,777.25
09/29/1989 2,857,430,960,187.32
09/30/1988 2,602,337,712,041.16
Reagan
09/30/1987 2,350,276,890,953.00
09/30/1986 2,125,302,616,658.42
12/31/1985 1,945,941,616,459.88
12/31/1984 1,662,966,000,000.00
12/31/1983 1,410,702,000,000.00
12/31/1982 1,197,073,000,000.00
12/31/1981 1,028,729,000,000.00
Neither party is fiscally responsible.
2006-10-20 07:30:08 · answer #2 · answered by words_smith_4u 6 · 1⤊ 0⤋
With all that surplus money did they count the SSA money in the general fund money? The answer is yes. Did Bill Clinton finance the debt with short term bonds? The answer to that question is also yes.
Now with all the surplus money did the national debt calculator spin backwards? No
Anyone that thinks Bill Clinton wiped out US debt is in for a rude awakening.
Remember the words free trade agreement.
How many people believe that no matter who is in office we are going to get it?
2006-10-20 07:29:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
People are confused about which debt we're talking. Clinton gave us a budget surplus (of $230 billion) rather than a budget deficit (current $319 billion).
He also reduced the $5.7 trillion national debt by $360 billion.
2006-10-20 07:30:53 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I don't think that's what they are saying, rather it's (or should be) Clinton balanced the budget during his term and even had a surplus where Bush ran such a deficit that the debt he added exceed all the other presidents deficits added up.
2006-10-20 07:23:03 · answer #5 · answered by madjer21755 5 · 2⤊ 0⤋
In fact the Federal Reserve chairman Alan Greenspan got worried at one point that there would be no need to issue treasury bonds in about ten years time, the fact was that debt was being repaid and if extrapolated the US would indeed have paid it all off.
Due to massive spending by the Bush administration both on foreign adventures and welfare programs for corporations and the large tax cuts the US is well on its way to being forever in hock to the Chinese, good luck!
2006-10-20 07:30:15 · answer #6 · answered by fourmorebeers 6 · 0⤊ 1⤋
yes that's true Clinton balanced the budget or erased the deficit he didn't pay off the debt, his plan would have started paying it off if the chimp would have left things alone, those are the facts.
2006-10-20 07:26:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Clinton was able to balance the budget, but conservatives refuse to admit that fact.
Thanks to Bush, Rumsfeld, and Congress, the deficit is nearing $9 trillion.
Sorry, but the truth hurts.
2006-10-20 07:21:18 · answer #8 · answered by Anonymous · 2⤊ 1⤋
when Clinton left office we were at a surplus now we are so far in debt that it will take generations to come before we ever see that again if ever.
2006-10-20 07:27:43 · answer #9 · answered by christie 2 · 0⤊ 0⤋
always gonna have people berating the president in office at the time especially if from another party but the fact of the matter is - the problems of the world are from all presidental terms - cos they are human and are listening to humans and we all make good and bad choices - but to blame it all on one single person is inaccurate .....
that is what voting is all about - in order for you personally to be able to support the person you are behind - in supposedly like thought
may God continue to have mercy on our nation !
2006-10-20 07:26:48 · answer #10 · answered by Marsha 6 · 0⤊ 0⤋