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I was noticing that facts and history have many times changed depending on the desire of the person quoting the facts.......Take the Clinton Surpluses the Dems like to brag about. [if !mso]> [endif]Explaining the Myth of the Clinton Balance Budget is this simple: When it is claimed that Clinton paid down the national debt, that is patently false--as can be seen, the Online US Treasury records indicate the national debt went up every single year. What Clinton did do was pay down the public debt--the claimed surplus is relatively close to the decrease in the public debt for those years. But he paid down the public debt by borrowing far more money in the form of intragovernmental holdings (mostly Social Security).
The Social Security Administration is legally required to take all its surpluses and buy U.S. Government securities, and the U.S. Government readily sells those securities--which automatically and immediately becomes intragovernmental holdings. The economy was doing well due to the dot-com bubble and people were earning a lot of money and paying a lot into Social Security. Since Social Security had more money coming in than it had to pay in benefits to retired persons, all that extra money was immediately used to buy U.S. Government securities. The government was still running deficits, but since there was so much money coming from excess Social Security contributions there was no need to borrow more money directly from the public. As such, the public debt went down while intragovernmental holdings continued to skyrocket.
You all remember the social security "LOCK BOX" Mrs. Clinton stored Billy's TESTICLES IN AFTER MONICA.
Check it out.
And how about those (Obama and Comrads) that attempt to justify and or blame their own spending on Bush?
For those of you who are posting all kinds of bogus numbers, these are the actual facts:
When President Obama took office two years ago, the national debt stood at $10.626 trillion. It now stands at $14.3 trillion -- a staggering increase of $3.7 trillion in just over 2 years (about $5 billion a day).
To put that into perspective, when President George W. Bush took office, our national debt was $5.768 trillion. By the time Bush left office, it had nearly doubled, to $10.626 trillion. So Bush's record on deficit spending was not good at all: During his presidency, the national debt rose by an average of $607 billion a year.
How does that compare to Obama? During Obama's presidency to date, the national debt has risen by an average of $1.723 trillion a year -- or by a jaw-dropping $1.116 trillion more, per year, than it rose even under Bush.
Fact check it!!!!!!
I'll just concede that Obama being smarter and more street savvy outperforms good ol dumb Bush. It does lead me question at this point who he gave the money to and whether or not we should trust him with another 4 trillion. It would probably be more effective to short stick his fuel tanks on the 747.
Debt per Day Comparison
1,141,601,083$ per day = Bush over 8 years
3,762,224,060$ per day = Obama over 4 years
Cut the debt... Enough said.