Presidents and Deficits

[chemmie]

Since Lyndon Johnson, only two presidents have left office with a lower deficit than when they entered office. Who are they?


Since Lyndon Johnson, only one president has actually had a year-to-year decrease in federal spending, and he did it twice. Who was it?

 

[Bob the Citronaut]

Since George Washington only one President accrued more debt than every President before him combined. Who was it?

 

[chemmie]

Since George Washington only one President accrued more debt than every President before him combined. Who was it?

You should learn how debt and deficits work, Bob. Then you wouldn't be an idiot.

 

[Bob the Citronaut]

Only one President averaged a yearly deficit greater than $251B, and it comes in at $912B. Who was it?

 

[Great2BAKnight2]

Not sure about the answer to your questions but the deficit really should be discussed in the context of the overall economy.

Implementation of Keynesian economics has led to increase federal spending during recessions to help propel the economy out of the recession. Recessions are largely outside of the control of the sitting president so it's a little unfair to judge deficits by president without overlaying the economic conditions of the time. Now if a president increases the deficit and the economy was not struggling, I would point to that as a negative against the president.

 

[chemmie]

But, Republicans keep telling us that they are "fiscally conservative." What better way is there to measure "fiscal conservative-ism" than by looking at deficits and spending?

So, who were the two most "fiscally conservative" Presidents during the last 60+ years?

 

[Great2BAKnight2]

But, Republicans keep telling us that they are "fiscally conservative." What better way is there to measure "fiscal conservative-ism" than by looking at deficits and spending?

So, who were the two most "fiscally conservative" Presidents during the last 60+ years?

It's more complicated than that though. Was the deficit driven by previous policies finally hitting the books? Was there a recession? Was there warranted military action? All of these scenarios can create increased deficits that are not the fault of the president.

You can be fiscally conservative and still follow Keynesian theory. It just means you don't fund pet projects and unneeded programs during times of economic booms. But during recessions they should be for increasing government spending.

It's not black and white as you're trying portray - a line chart of deficit spending can't be used to judge fiscal conservatism.

 

[Bob the Citronaut]

But, Republicans keep telling us that they are "fiscally conservative." What better way is there to measure "fiscal conservative-ism" than by looking at deficits and spending?

So, who were the two most "fiscally conservative" Presidents during the last 60+ years?

But liberals keep telling us they are "anti-war." What better way is there to measure "anti-warism" than by looking at time spent at war?

So, who was the only President ever to be at war every day of their time in office?

 

[Knight_Light]

43% of our nation's total debt was built up during Obama's 8 year tenure.

 

[chemmie]

43% of our nation's total debt was built up during Obama's 8 year tenure.

But, why?

You guys keep mentioning the debt. That's all you have. Why did the debt grow so much?
That answer is simple:
Obama inherited a $1.4 TRILLION budget deficit.
Trump inherits a $450 Billion budget deficit.

By mentioning the debt in this context, all you are saying is Obama didn't clean up the awful mess left to him fast enough for your liking.

Obama is only one of two presidents to hand off a smaller deficit to his successor since Lyndon B. Johnson. The other president was Bill Clinton.

 

[chemmie]

And, Obama is the only President since Lyndon B. Johnson to actually see cuts in year-to-year Federal Spending. He did it twice. No other president in the last 60+ years has done it.

He's such an awful fiscal conservative.

 

[Sir Galahad]

Obama also structured the ACA to not fully implement until after his term, I wonder why.

 

[MACHater02]

chemmie, stop teasing the slow kids.

 

[Great2BAKnight2]

It would have been unusual for the deficit not to go down following a recession. Just look at the past history (click the link and find Figure 1-1), all of the major deficits are directly correlated to recessions and the deficit went down after each recession.

What should be troubling to everyone is that the deficit goes back up from 2016-2026 even though we're not on hard economic times. To me, this signifies either stagnation in the growth of the economy, additional government spending, or a combination of both.

What's funny about this thread is that you're heralding Obama's deficit reduction (even though it's normal) but when it goes back up next year as the current projections indicate, you'll blast Trump for it even though it's entirely based on Obama's policies.

https://www.cbo.gov/sites/default/f...15-2016/reports/51908-2016outlookupdate-2.pdf

 

[chemmie]

It would have been unusual for the deficit not to go down following a recession. Just look at the past history (click the link and find Figure 1-1), all of the major deficits are directly correlated to recessions and the deficit went down after each recession.

What should be troubling to everyone is that the deficit goes back up from 2016-2026 even though we're not on hard economic times. To me, this signifies either stagnation in the growth of the economy, additional government spending, or a combination of both.

What's funny about this thread is that you're heralding Obama's deficit reduction (even though it's normal) but when it goes back up next year as the current projections indicate, you'll blast Trump for it even though it's entirely based on Obama's policies.

https://www.cbo.gov/sites/default/f...15-2016/reports/51908-2016outlookupdate-2.pdf

Ummm... the projections have it remaining level for 2017, and going down in 2018.

Page 16.

 

[MACHater02]

It would have been unusual for the deficit not to go down following a recession. Just look at the past history (click the link and find Figure 1-1), all of the major deficits are directly correlated to recessions and the deficit went down after each recession.

What should be troubling to everyone is that the deficit goes back up from 2016-2026 even though we're not on hard economic times. To me, this signifies either stagnation in the growth of the economy, additional government spending, or a combination of both.

What's funny about this thread is that you're heralding Obama's deficit reduction (even though it's normal) but when it goes back up next year as the current projections indicate, you'll blast Trump for it even though it's entirely based on Obama's policies.

https://www.cbo.gov/sites/default/f...15-2016/reports/51908-2016outlookupdate-2.pdf

There's nothing in Trumps proposals to reverse the trend.

 

[chemmie]

chemmie, stop teasing the slow kids.

I just don't understand why people keep using these "liberal" and "conservative" terms. The two most conservative presidents in recent memory have been Obama and Clinton, when it comes to fiscal policy. GW Bush was a nightmare. Took a surplus and turned it into a $1.4 Trillion deficit, and idiots try to tell us Obama is the worst president ever.

 

[OmniKnight]

Chemmie you cannot talk about budgets when you consume that much food

 

[Great2BAKnight2]

Ummm... the projections have it remaining level for 2017, and going down in 2018.

Page 16.

Yeah you're right. I was looking at the trend line (2016-2026 change), not the individual years. So the increase in deficit will occur after Trump in 2021 if all things remain the same. Any change, one way or the other, is likely attributable to Trump.

 

[Bob the Citronaut]

I just don't understand why people keep using these "liberal" and "conservative" terms. The two most conservative presidents in recent memory have been Obama and Clinton, when it comes to fiscal policy. GW Bush was a nightmare. Took a surplus and turned it into a $1.4 Trillion deficit, and idiots try to tell us Obama is the worst president ever.

So where do you draw the line on blaming/crediting past Presidents? Inquiring minds need to know so we can judge your hypocrisy when you start blaming Trump.

 

[chemmie]

So where do you draw the line on blaming/crediting past Presidents? Inquiring minds need to know so we can judge your hypocrisy when you start blaming Trump.

When it comes to fiscal matters, you should know this answer, Bob.

The 2017 budget starts Oct. 1 2016. Unless the new congress takes drastic actions that affect the budget, it is Obama's problem. 2018, that's Trump's issue to deal with.

 

[Bob the Citronaut]

Huh... What's your warped reasoning for the deficit going up 34% and it not being Obama's fault?

http://www.wsj.com/articles/u-s-bud...year-2016-first-time-in-five-years-1476475245

 

[MACHater02]

Huh... What's your warped reasoning for the deficit going up 34% and it not being Obama's fault?

http://www.wsj.com/articles/u-s-bud...year-2016-first-time-in-five-years-1476475245

You must be really pissed at Bush.

 

[Bob the Citronaut]

You must be really pissed at Bush.

Still blaming a President from eight years ago...

 

[MACHater02]

Still blaming a President from eight years ago...

So just erase from your brain what was occurring when Obama took office? Lol. Obama had a blank slate to start on, must be nice.

 

[UCFKnight85]

I truly wonder when chemmie will finally realize that Congress passes budgets and controls the purse strings.

He is either a colossal idiot who can't understand this or willingly being an ignorant buffoon to keep his narrative going.

 

[chemmie]

I truly wonder when chemmie will finally realize that Congress passes budgets and controls the purse strings.

He is either a colossal idiot who can't understand this or willingly being an ignorant buffoon to keep his narrative going.

Oh, then I guess all financial talk when it comes to presidents is irrelevant. No more debt, deficits, spending, etc. That stuff doesn't matter anymore.

 

[Bob the Citronaut]

So just erase from your brain what was occurring when Obama took office? Lol. Obama had a blank slate to start on, must be nice.

How long are you going to blame Obama for anything that goes wrong under Trump?

 

[UCFKnight85]

Oh, then I guess all financial talk when it comes to presidents is irrelevant. No more debt, deficits, spending, etc. That stuff doesn't matter anymore.

If you ever take like 20 seconds to Google "budget of the United States and Congress" you'll realize that they pass budget. Therefore any slowdown in the growth of spending that you're cheering about is thanks to the Republicans in Congress. Shouldn't you praise them a bit?

Did you forget about the Budget Control Act which was forced upon Obama after attempting to explode deficits even further in 2009/2010?

 

[1ofTheseKnights]

D R cheerleadering whilst the country's been goin down the shitter w 3rd worlders immigrating, but lets talk this, abortion & retarded crap

 

[goodknightfl]

But, Republicans keep telling us that they are "fiscally conservative." What better way is there to measure "fiscal conservative-ism" than by looking at deficits and spending?

So, who were the two most "fiscally conservative" Presidents during the last 60+ years?

Clinton was one, he was dragged kicking and screaming by Republicans.

 

[goodknightfl]

How long are you going to blame Obama for anything that goes wrong under Trump?

8 years, it is called the Bush act.

 

[MACHater02]

How long are you going to blame Obama for anything that goes wrong under Trump?

Depends on the issue, no one starts with a clean slate. Trumps just running con, you all will realize at different points in his presidency.