... and that explains how the Republicans turned over all the purse strings of the government to the Democrats in January, 2007, and a declining 0.16 (that's zero point one six) trillion dollar deficit; and the Republicans turned over to the Democrats a total debt of 5 trillion dollars to the Democrats in January, 2007.posting this again.
All you right whiners want a surplus & fiscal responsibility.
We had it!!!!!
We were on track to have a 5.6 trillion dollar SURPLUS in 2012.
Then Bush took office in 2001.
In June 2012, CBO summarized the cause of change between its January 2001 estimate of a $5.6 trillion cumulative surplus between 2002 and 2011 and the actual $6.1 trillion cumulative deficit that occurred, an unfavorable "turnaround" or debt increase of $11.7 trillion. Tax cuts and slower-than-expected growth reduced revenues by $6.1 trillion and spending was $5.6 trillion higher. Of this total, the CBO attributes 72% to legislated tax cuts and spending increases and 27% to economic and technical factors. Of the latter, 56% occurred from 2009 to 2011.
The difference between the projected and actual debt in 2011 can be largely attributed to:
$3.5 trillion – Economic changes (including lower than expected tax revenues and higher safety net spending due to recession)
$1.6 trillion – Bush Tax Cuts (EGTRRA and JGTRRA), primarily tax cuts but also some smaller spending increases
$1.5 trillion - Increased non-defense discretionary spending
$1.4 trillion – Wars in Afghanistan and Iraq
$1.4 trillion - Incremental interest due to higher debt balances
$0.9 trillion - Obama stimulus and tax cuts (ARRA and Tax Act of 2010)
The U.S. budget situation has deteriorated significantly since 2001, when the CBO forecast average annual surpluses of approximately $850 billion from 2009–2012. The average deficit forecast in each of those years as of June 2009 was approximately $1,215 billion. The New York Times analyzed this roughly $2 trillion "swing", separating the causes into four major categories along with their share:
Recessions or the business cycle (37%);
Policies enacted by President Bush (33%);
Policies enacted by President Bush and supported or extended by President Obama (20%); and
New policies from President Obama (10%).
Several other articles and experts explained the causes of change in the debt position.
So there Tea Party members. We had what you wanted.
Look who took us off that path.
Paul Ryan, voting yes yes yes.
Republicans did this.
What have the Democrats done to that deficit since?
Did you say they increased it by ONE THOUSAND FIVE HUNDRED PERCENT?
And what have the Democrats done to that total debt since?
Did you say they more than tripled it to the 16 trillion dollars it is tocay?
And what kind of plan do the Democrats have to reverse the economically suicidal course they put us on in January, 2007?
Did you say the Democrats don't even have a plan?
Did you say we haven't even had a budget since Obama took office?
Did you say the only two budgets Obama submitted to Congress in the 4 years he's been in office couldn't get even one goddam vote in the entire Congress?
Wouldn't you conclude after being informed of these facts that every Democrat in Congress thinks Obama is an idiot?
So, please tell us why the Democrats in Congress think Obama is a nutcase and they still put him on the ballot to run for another term.