The GOP are well known how in writing and verbally, they like to take credit for the good things that take place on the Democratic watch. Now comes an article in the Times Picayune of November 17 by Quin Hillyer who gives credit to the GOP for President Clinton's balanced budgets and reducing federal spending. He cites in particular the former Louisiana U.S. House rep. Bob Livingston (who resigned in disgrace) and his so called role in balancing the budget.
President Clinton and his party controlled both bouses of congress in the first two years of his administration. The House was controlled by the GOP in Clinton's last 6 years in office. The Clinton administration allowed the GOP to submit their own budget to congress and it failed to pass. Then the democrats presented Clinton's budget and it passed congress. That democratic budget set the stage and produced the greatest economy, greatest job creation, reduced the deficit every year in Clinton's first term and a balanced budget every year in his second term with surpluses. It also produced the lowest increase in federal spending in the past 70 years. That budget also raised taxes on corporations and the wealthy that increased needed federal revenue; it propelled the new dot.com economy to new heights; and there were many more progressive parts of the budget that assisted the nation's economic growth.
Presidents Reagan, Bush 43 and Trump cut taxes for corporations and the wealthy and all three administrations gave the country an economic recession. All three completed their last fiscal year with a larger federal budget deficit than they inherited from those before them. None of the three, balanced the federal budget in the 20 years they served and the last GOP President to balance the budget was Eisenhower in fiscal 1960. (How many more years do the GOP need to balance a budget??? And it should be noted, Every GOP administration in the last 100 years has given the country and its people an economic recession. Does anyone really think than is a coincidence???
When it comes to increases in federal spending, GOP administrations are the CHAMPS. Federal spending during the following Presidential administrations are as follows: During Reagan's 8 fiscal years, up 75%, during Bush 41 four fiscal years, up 28%, during Clinton's 8 fiscal years, up 28%, during Bush 43 eight fiscal years, up 61%, during Obama's eight fiscal years, up 25% and during Trump's 4 fiscal years, up 43%. In the 12 year period before Reagan, the largest percentage increase in federal spending took place on the Nixon/Ford watch when spending increased 92% in their 8 fiscal years.
The national debt increased 187% on Reagan's watch in his 8 fiscal years, in Bush 41 four fiscal years increased 54%, in Clinton's 8 fiscal years it increased 31%, in Bush 43 eight fiscal years it increased 106%, in Obama's eight fiscal years it increased 70% and in Trump's 4 fiscal years it increased 41%.
When it comes to managing the federal government's fiscal house, the democratic administrations do a better job all around and have a history of doing so. The GOP are the big spenders and have led with the largest increases for the past 70 plus years. Fiscally, the Democratic party has proven to be more conservative than the GOP. As a result, the Democratic party can walk the fiscal talk, the GOP cannot, all they have left are the lies and mis-information which defines their party.
This commentary written by Joe Lorio
Note: Numbers above taken from the official records of the CBO, OMB and the Treasury Department.
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