"Dwight Eisenhower was last Republican President to preside over a balanced budget. He had a balanced budget in 1956 and 1957. Since then, there have been two presidents to preside over balanced budgets, LBJ in 1969 and Clinton in 1998 through 2001. During the last 40 years there have been five budget surpluses, all five were under Democratic Presidents: 1969, 1998, 1999, 2000, and 2001".
@ Makham - The reality is that both LBJ and Clinton used accounting tricks that any corporate CEO would go to jail for to artificially balance their budget. Clinton used Social Security monies in the Trust Fund to do so. The last President to ACTUALLY create a balanced budget was Eisenhower.
The budget balances were due to tax increases and each was followed by a recession. The solution to a balanced budget is to cut government spending. Dramatically. Neither Democrats nor Republicans can be relied on for that. That’s why we need to elect conservative legislators. Establishment Democrats or Republicans don’t qualify. Since this post is about Obama and he seems bent on destroying the economy by any means necessary, there’s no reason to put a fine point on it. :p :p :p
"Dwight Eisenhower was last Republican President to preside over a balanced budget. He had a balanced budget in 1956 and 1957. Since then, there have been two presidents to preside over balanced budgets, LBJ in 1969 and Clinton in 1998 through 2001. During the last 40 years there have been five budget surpluses, all five were under Democratic Presidents: 1969, 1998, 1999, 2000, and 2001".
ReplyDelete@ Makham - The reality is that both LBJ and Clinton used accounting tricks that any corporate
ReplyDeleteCEO would go to jail for to artificially balance their budget. Clinton used Social Security monies in the Trust Fund to do so. The last President to ACTUALLY create a balanced budget was Eisenhower.
The budget balances were due to tax increases and each was followed by a recession. The solution to a balanced budget is to cut government spending. Dramatically. Neither Democrats nor Republicans can be relied on for that. That’s why we need to elect conservative legislators. Establishment Democrats or Republicans don’t qualify. Since this post is about Obama and he seems bent on destroying the economy by any means necessary, there’s no reason to put a fine point on it. :p :p :p
ReplyDelete