Some interesting history on the deficit and job creation...
Do you know what the entire national debt was the first 200 years of our country? $900 billion!
Then came 12 years of Reagan and George HW Bush and it suddenly became $4.1 Trillion because of unprecedented DEFICIT spending!! Then came Bill Clinton who improved it every year until it became a record surplus, but not a single Republican vote on his first budget that cut the $250 billion annual deficit in half! Hmmm...
23 million jobs created during those eight years of the Clinton Administration. The Dow Jones Industrial Average was up 350%. We had budget surpluses as far as the eye could see. Social Security was fine for the foreseeable future and trickle down Reaganomics was nowhere to be found! Total debt: about $5.4 Trillion.
Enter George W. Bush, aka DUMBYA, who had fewer POPULAR votes than Al Gore even with machines rigged in his favor. Tax cuts for the rich and trickle down economics ruled the day once again, screwing the middle and working class! It was the worst job creation administration since the Great Depression and Republican President Hoover. We had the worst economy since Hoover if you count the entire eight year period! About 2 million jobs created, roughly 9% of Bill Clinton's job creation numbers. The National debt that the right is suddenly concerned about skyrocketed to nearly 12 Trillion dollars. Then came the total collapse of our financial system. The last budget of the Bush administration ,Fiscal Year 2009 (Oct 2008 thru Sept 2009) was $1.3 Trillion in deficit and this was predicted by the CBO weeks before Obama took office. Obama's first budget came in at around $1.6 Trillion in deficit, or about $300 billion more than DUMBYA's. How does that equate to tripling the debt as so many on the right try to accuse Obama of doing? Better yet, how does anyone who likes to portray Obama as a reckless spender NOT take into consideration what our country was facing at that point in time? Economists on both sides of the aisle UNANIMOUSLY agree that spending is historically how we've gotten ourselves out of depressions and recessions! End of discussion!
Republican administrations are responsible for 90% of our debt yet they continue to portray themselves as "deficit hawks". They have certainly earned the Fake Outrage Party moniker, haven't they?
Democrats always have higher job creation numbers. When was the last time a Republican administration balanced the budget?
Let's run down how each president did. Here are the average annual percentage increases in jobs for each postwar president:
Harry S. Truman (Democrat): +2.95 percent a year
Dwight D. Eisenhower (Republican): +0.50 percent a year
John F. Kennedy (Democrat): +2.03 percent a year
Lyndon B. Johnson (Democrat): +3.88 percent a year
Richard M. Nixon (Republican): +2.16 percent a year
Gerald R. Ford (Republican): +0.86 percent a year
Jimmy Carter (Democrat): +3.45 percent a year
Ronald Reagan (Republican): +2.46 percent a year
George H.W. Bush (Republican): +0.40 percent a year
Bill Clinton (Democrat): +2.86 percent a year
George W. Bush (Republican): +0.1 percent a year
Interesting numbers, eh? Facts are stubborn things! So it begs the question, why do the Democrats and the media (with a few exceptions) continue to allow these myth tellers to get away with peddling their lies and misinformation? Their revisionist history is nauseating and disturbing. Progressives only need to remember one thing: The Clinton / Gore administration
I MISS BILL!!!!
So when some moronic Republican and/or Teabagger dipstick decides to go on and on about tax cuts for the wealthy and the "job creators" and whatever other nonsense they spew out of their piehole, you need only remember that the Clinton/Gore administration is the anti-trickle-down-Reaganomics. It is the beacon of light in the last 30 years of economic policy darkness and a perfect example of how things go when trickle-down-Reaganomics DOES NOT rule the day. Imagine where we'd be if we had no term limits? Bill Clinton would likely still be President. How about if we had allowed the re-count to continue in 2000 and President Gore was written in the history books instead of President Dumbya?
We can only wonder the possibilities...