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Originally posted by Barrett View PostDo you think that the surplus and balanced budgets during Clinton were solely attributed to Reagan and Bush? Where do you put the blame in regards to the 2008 debacle?
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Originally posted by Johnny Dangerr View PostThey just showed a national poll on ABC showing Biden ahead by 13 points over Trump.
So they called 100 Democrats............
but we can't be complacent in this next election, have got to get out and vote and give 'em a resounding *** whoopin'.
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Originally posted by 100%TtId View PostThe "surplus" was the result of an accounting trick that, if attempted in the private sector with a publicly traded company, would land you in jail for fraud.
https://www.thefiscaltimes.com/Colum...20-Years-Later
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Originally posted by Barrett View PostSoooo, if the same metrics were used by your biased reference what does Trumps deficit look like. If what they preach still happens today. Your source seems a bit of a stretch to me, but I will admit I'm not a scholar in economics.
If you consider the author of the article posted is one of the nation's foremost experts on governmental accounting practices, your claim of bias has no basis in fact.
The fact is Clinton changed how accounting rules were applied and instantly changed a deficit into a surplus. Just like Enron.
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Originally posted by 100%TtId View PostIt's not a question of economics, it's a matter of accounting.
If you consider the author of the article posted is one of the nation's foremost experts on governmental accounting practices, your claim of bias has no basis in fact.
The fact is Clinton changed how accounting rules were applied and instantly changed a deficit into a surplus. Just like Enron.
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Originally posted by muzzlebrake View PostPretty close to dead on. Glad somebody understands how things work. Clinton benefited for 8 years from Reagan's policies and decisions that endured thru Bush No 1. Reagan had a tough go because of a dingbat peanut farmer before him. Bush No.2 inherited the trickle down from Clinton and things began to tank and there was 911 terrorist attack on the twin towers and Obama, well he really didn't do much of anything. By then the institutions were ahead of the game and much smarter than Obama and we managed to get thru without a severe depression. If Trump keeps going the next president in 2024 will most likely be on super cruise.
If you have a stomach for financials try reading "The Great Deformation" by Reagan's budget director David Stockman.
I was so sad to see what had happened to my friends and family living in Texas in the early 80s when both the energy and agricultural sectors took a hit. You have to give credits to Texas leaders in industry, education and both parties in the government for building the diverse economy we have in this state today.
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Most people give presidents all the credit or blame for the economy. As has already been stated, presidents don't have that much direct effect on the economy. Politics is one thing that affects the economy, but it's not the only thing. The free market and the private sector innovations and advancements play the biggest role. Lots of other things have an effect on the economy as well.
There are always things happening that have differing effects on the economy at the same time - some good, some bad. As far as the political component, Congress is the biggest player. That is where tax law and government spending bills are written and passed. The Fed plays a role with interest rates. Presidents can advocate for different things, but they can't just pass laws on their own. They can sign or veto whatever Congress passes. Presidents are increasingly using and abusing the executive order. And the executive branch regulatory authority has been severely over-used and abused - especially by Obama. So, in that regard, presidents and the executive branch can have a bigger effect on the economy than they should have. But Congress still has a bigger effect than the president. The private sector still has the biggest effect of anything. Even during Obama's years of oppressive and excessive regulation abuse, the private sector still was able to trudge along and produce 2% GDP growth. That was pretty anemic, of course. But it was growth, in spite of the uphill climb that businesses had against the huge wave of liberal anti-business regulatory abuse that we saw during those years.
When the Republican Congress and President Trump had 2 years of at least semi-cooperation and were able to cut taxes and dial back some (but still not as much as they should) of the oppressive government regulatory burden, the private sector was able to get going a lot faster. Government doesn't create jobs. Government can only bog the system down and hinder growth. When we get the dang government out of our way, WE can make the economy work like it's supposed to.
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