DP, I fully agree that the shift of social security from taking in more than it payed out to being a deficit program has significantly contributed to the deficit.

However, I must take exception to the oft repeated statement that Bush inherited a surplus. He did not. At the time he took office, the United States's economy was contracting not expanding, consequently lower tax income. The real kicker was the dot.com bubble crash in March of 2000. The Clinton surplus was built largely on capital gains taxes from the tech stocks. When the bubble collapsed, the income from these ceased as the first 'Bush' fiscal year began on October 1, 2000 after the capital gains tax revenue ended and just as the economy was entering a recessionary period. The problem was compounded by the events of 9/11.

I do fault Bush for not cutting government spending to finance the wars in Iraq and Afghanistan. I also fault him for never vetoing congressional earmarks.

The more I read Newt Gingrich's books he not only identifies the real problems facng America but he also offers solid solutions and yes, he is willing to put blame with Bush too for the mess that Obama inherited. Newt demonstrated a willingness to work with Bill Clinton when he was Speaker of The House. To rule him out because folks say "he has baggage" is to eliminate him without hearing what he has to say and maybe missing out on having the best person for the job.

BBQ: You're right, I was a bit brief in my description of Bush's performance. He inherited a surplus and the economy WAS slowing down - everyone knew it and the dot-com bubble made it worse. His performance, however, made things worse. I should not have implied that it was TOTALLY his fault.

He absolutely did not inherit a surplus from Clinton. Bush started with a $133.29 billion deficit in Jan. 2001.

Current administration party talking points
 

don't have to be reasonable, rational or true!

btk

Springfield
 

Please explain this. Do you have an example of these roadblocks?

What has Obama done to help us work together?

The financial crisis in the financial markets was caused by the actions of Barney Frank and other Democrat moves and you blame it on the greedy without any examples.

Back up your comments or do not make them.

I never could figure out why we would fight 2 wars and not expect any sacrifices made to pay for this. I don't think a tax cut for those with incomes over 250K was the answer. We never saw the caskets of our men and women who sacrificed their lives. Maybe we will forget?

As far as the two parties, maybe we need a third party. Both are sleeping with the banks.

Wouldn't it be interesting if Congress wore NASCAR jackets with decals showing sponsorship of their lobbyists and special interest groups.

Tax cuts
 

To understand tax cuts you have to learn some history.

In the history of taxes whenever taxes are reduced production increases
and tax revenues rise.

I thought we were fighting only one war, The War Against Terrorists.

Would you call WWII fighting 6 or 7 wars because we fought in different countries, like Japan, Germany, France etc. etc.?

mitchbr47, I hope you aren't someone who plays "hit and run" in this forum. So with that in mind, please allow me to ask you, with all due respect, if you realize the Democrats under Obama have allocated nearly as much spending in one month, that is one month, than President Bush spent in seven years on the war in Iraq, the war in Afghanistan and Hurricane Katrina combined — in one month.

In one month, the Democrats passed the $31 billion expansion of the State Children's Health Insurance Program passed in January plus the $787 billion stimulus bill passed in February. That adds up to $818 billion.

The bill for the Global War on Terror under Bush was $808 billion according to the Government Accountability Office report. Tacked on to the $132 billion for responding to Hurricane Katriana, that is $940 billion.



http://www.gao.gov/new.items/d09233r.pdf

Are you sure?

http://www.davemanuel.com/history-of...ted-states.php

That says 2001 (fiscal year runs from October 1, 2000 to Sept 30, 2001) was a $127.3B surplus.

Are you talking about, perhaps, numbers that do or don't include the Social Security Surplus?

Check out page 26 of the following:

http://www.gpoaccess.gov/usbudget/fy02/pdf/hist.pdf

It shows that Bush inherited a surplus and the White House (in 2001) was predicting continuing surpluses for the next several years.

Read this djplong and tell me what you think. There is another article, I can't remember where I read it, but I'll try to find it and post it also. I'm really not good with numbers and budgets and such, seriously. Posts by Villages Kahuna really interested me because he was so schooled with numbers. Anyway, I know you are better with numbers than me so tell me what you think.

http://www.craigsteiner.us/articles/16

Quite a dry read but I kept with it and, sure enough, it mentions Social Security. I suspected that was the case. Last time the press really reported anything about the use of Social Security surpluses to mask the deficit was in the 1980s or so.

Either way, yes, the public debt went up but the holders of many of those notes were the SSA (Social Security Administration). "Bottom Line" numbers had the government taking in more than it spent. Remember, we actually DID have "reverse auctions" of T-bills in there a few times.

But now as the baby boomers are retiring (1946 + 65 = 2011, and some retired at 62) that surplus is GONZO. If memory serves, it's razor thin now and for a year or two and then really starts heading downhill from there.

Cashman
 

Please explain this. Do you have an example of these roadblocks?

What has Obama done to help us work together?

The financial crisis in the financial markets was caused by the actions of Barney Frank and other Democrat moves and you blame it on the greedy without any examples.

Back up your comments or do not make them.

Cashman, why are you such a hateful little person, be civil....debate is a great thing with out the ZINGERS!

So the GREEDY financial market didn't have anything to do with this collapse, or the deregulation??????....Yea right, Let's blame it on Barney Frank! What a guy!

Most of it all started right here. The truth at the very beginning of this mess. In their own words...if you dare to listen.

[ame]http://www.youtube.com/watch?v=Yga7TlsA-1A[/ame]

[ame]http://www.youtube.com/watch?v=LPSDnGMzIdo&feature=related[/ame]