25-Years ago today; 25 January 2001. Remember this?

[Grins]

While fighting two wars that he won, fighting off a hostile Republican Congress that desperately wanted to impeach him, Bill Clinton still managed an economy that brought annual surpluses to the national economy. For the first time in decades the deficit was in minus territory and the debt going down - because Clinton ordered the surplus be applied to the debt.

On the FOURTH DAY of our "MBA president's" first term, this fucking guy no less:

"The time has come, in my judgment, to consider a budgetary strategy that is consistent with a preemptive smoothing of the glide path to zero federal debt or, more realistically, to the level of federal debt that is an effective irreducible minimum.'' - Alan Greenspan, in Senate testimony, Jan. 25, 2001.

Translation: Go ahead and cut taxes. Surpluses are bad! Endless surpluses were an economic danger to the nation's very survival!

Greenspan and the GOP said we needed to prevent the horror of having too much fucking money! Cuz' next thing you know, the government would have zero fucking debt and we'd be socking away all that extra money by buying private sector financial assets - "Soshilism!!!" And besides, those damn big-government liberals will just blow the money on new government programs, like education, hunger, health care, housing, etc.

But, no. THE FIRST legislation proposed by the Bush II administration was this bill to cut taxes.

Projections by Republicans and the Bush administration then saw of surpluses of $5.6 trillion over 10 years. Within MONTHS that outlook in 2001 quickly turned into estimated deficits of at least $1.4 trillion and possibly as much as $5 trillion.

Isn't that adorable??? $5-Trillion! Remind me what the deficits were during the Bush II administration. And what they aretoday...

[Xavier Breath]

1. Arguing over taxes and surpluses seems like a quaint dream from a bygone era.

Sigh.

[Dawson Leery]

2. Democrats always have to fight on an unlevel playing field.

[UpInArms]

3. it was a $16 trillion transfer of wealth

the war was "off budget"

and then, they destroyed the economy and handed the tatters to Obama, who was blamed for it all