Bush Administration's last budget: RECORD DEFICIT!!

[exlrrp]

Lets go back to those good old days of 2000. A Democrat was president, gas was only 1/3 as much as it costs now, your dollar was worth 1.32 Euro's and the annual federal budget was in surplus $127 billion. The budget, under a Democratic President, had been in surplus for 3 years straight.

And after 7. 5 years of George BUsh, where are we now? After 7.5 years of a republicon president, your dollar only gets .75 Euros, gas is (currently) $4.00/gallon and the next---and Thank God the last!-- budget of George W Bush has a projected deficit of $482 billion.

What is it about Republicons that just doesn't ever want to pay their debts?One of their most cowardly precepts is to pass all debts on to someone else, in the future rather than pay what they owe as they go. And thats exactly what Bush is doing---leaving a huge mess for someone else to straighten out.

Bush claimed---promised!---to halve the budget deficit by 2008. it was hard to figure out which of his budget deficits he was going to halve but he made it easy and just gave up----like finding Bin Laden, it was just too tough despite all his toughguy talk so he just ran away from it---like he ran away from his militaryu service.

And so the coward Bush is passing onto the next president, whoever he is, another huge debt of $482 billion, beating even his own previous record because he doesn';t have th balss or integrity to pay for what he does. But thats the way he grew up----someone else always paid, the door was always held open for him..
Lets look at that record
from World Almanac 2008, page 54.
Deficits: (rounded off to nearest billion)
2000: $127 billion---> surplus<-- (last Clinton budget)
2001: $157 deficit
2002: $377 "
2003: $412 "
2004: $318 "
2005: $248 "
2006: $244 "
2007: $158
2008: $168 (projected)
2009: $482 (projected)
the last record highest deficit before Bush took over was in 1992, his daddy's last budget---it was $290 billion. So george W Bush will have his name signed on the FOUR highest budget deficits in American history. Nobody has borrowed money (i.e. put America into debt) like George W Bush, he is the borrowingest president in history. Like Reagan, he never balanced a budget as president, never came close, never even tried. It was just too hard so he didn't do it. Repuglican presidents signed for 9 out of 10 of the nations highest annual deficits, they are the Party of National Debt.

Now what was Bush saying about it in 2000?
"Not only are my tax cuts real, they've reduced the baseline of the budget. And that's why it's important to cut taxes. It's important to cut taxes to give -- make sure the economy continues to grow. But John, it's also important to cut taxes to make sure that the federal budgets don't become bloated and don't grow." -- Iowa GOP Debate 1/15/2000
http://usgovinfo.about.com/blbush2.htm

If federal budgets not becoming bloated was the intended result of the taxcuts then once again we can chalk up another major failure to Bush and the repuglicans---they produced nothing but.record deficits and record governmental growth in their time in power. And the economy they created is limping along at .6% quarterly GDP growth.
What I'm saying is best shown in this graph below. As the chart makes plain, national debt decreases under Democrats, increases under " conservative" Repuglicans like Reagan and the BUshes


There's other great charts, mostly from the federal government, showing what a miserable failure our "MBA" president is, like this one:


And this one:


And of course this one showing how family income has DROPPED under george Bush:



I think the numbers show full well, that America can't afford another repuglican president, this one is leaving ALL his messes for someone else to clean up. This was supposed to be the "Accountability President" but he's getting away with no accountability to the American people at all.

Another truly miserable Repuglican performance. they have no victories at all to celebrate, the years of their misrule have been nothing but disaster for America.

[Advisor]

But...But..But James..it costs money to maintain an empire. God help us when the chickens come home to roost.

[MORTARDUDE]

Great post !!

Larry

[Gimpy]

James.............now let's wait and see what the radicals from the other side of the aisle can possibly say about THIS!

Just like you (and I) have been saying for the past seven years now.

GW and his minions have done more to harm this country in the past seven years than any other president in modern history!

GREAT POST!

Gimp

[colmurph]

Gimpy, why don't you do us all a favor and overdose on one of your meds.

[Gimpy]

That's probably one of the nicest things you've ever said to me!

You gettin "soft" in your "senile" years?

Gimp

[MORTARDUDE]

Originally Posted by Gimpy

That's probably one of the nicest things you've ever said to me!

You gettin "soft" in your "senile" years?

Gimp

LOL

[exlrrp]

gee---george BUsh inherited a MUCH better economy than he's leaving the next president.


Lets look at more of the repuglican record.

"...By JEANNINE AVERSA, AP Economics Writer
Fri Aug 1, 5:09 PM ET


WASHINGTON - Stores, factories and other businesses large and small showed workers the door last month, sending unemployment to its highest rate in four years and adding to the evidence an economic recovery remains far off.

Employers clamped down on hiring and cut 51,000 jobs in July, the Labor Department said Friday. The economy has shed jobs each month this year — 463,000 in all.

The unemployment rate rose to 5.7 percent, up from 5.5 percent in June.

The jobs report contributed to another day of grim news for the economy. General Motors reported a staggering quarterly loss of more than $15 billion and said its sales fell by more than a quarter from last year.

The Commerce Department said spending on construction projects around the country dropped 0.4 percent in June as cutbacks in home building eclipsed gains in commercial construction.

And manufacturers' business was flat in July. The Institute for Supply Management's reading of activity from the producers of cars, airplanes, appliances and other goods hit 50, down from 50.2 in June. A reading above 50 signals growth.

Job losses in July were the heaviest in industries hard hit by the slow housing market, the clampdown on credit and the shaky financial sector. Manufacturers cut 35,000 jobs, construction companies 22,000 and retailers 17,000.

Temporary help firms, also viewed as a barometer of demand for future hiring, eliminated 29,000 jobs. Those losses swamped job gains elsewhere, including in the government, education and health care.... ...The Federal Reserve is expected to hold interest rates steady next week as it tries to grapple with dueling concerns — a weak economy and inflation."

Got that reublicons? Your monetary Ponzi schemes and blatant corruption have brought the US a "weak economy and inflation."' So much for those miraculous taxcuts that Bsh was pimping in 2000----and never before has a president been so enriched by his own acctions.

Whats important to notice in ths graph is that Bush NEVER achieved the low unemployment rate of the Clinton Era, and that unemployment's on the rise again-----what up with that, repugs?? Oh lemme guess---its all the Democrats fault.





hey you repuglican clowns---those "miraculous" taxcuts george Bush did were supposed to send this economy into SURPLUS!! By this time, according to repuglican theory, we should be in a huge surplus---and we're in the hugest deficit ever, with an anemic growth rate, rising unemployment, a loss of 400,000 jobs just this year alone, a completely savaged loan industry (shades of GHWB!), a no growth Dow and Nasdaq and a plummeting dollar.

A truly LOUSY record, the wors of the 20th and 21st centuries. a truly miserable record, even the commies do better than that!!

Now tell me Repugs----Bush says that this current budget---with the highest deficit in American History, will lead to a balanced budget by 2012! Now, would you explain to me how that works? Seems like another huge "feelgood" lie we've seen so many of these last 7.5 years, like Bush promising to "Halve" the deficit. How does proposing the biggest budget deficit ever "halve" the deficit? Maybe he meant "have" the deficit?

no wonder the repugs would rather spend their time lying about Obama then looking at their own record.

Stay good, guys
James