Perhaps Republican House Budget Committee Chair Representative Paul Ryan and Democratic Senate Budget Committee Chair Senator Patty Murray would do well to invite former President Bill Clinton to help them balance the Federal budget. For based on CBO documented performance facts, on average during President Clintons eight federal budgets, Federal revenues represented 18.8% of GDP, Federal spending was kept under tight control at 18.7% of GDP, and deficit spending averaged a very small 0.1% of GDP! Compare President Clinton’s Federal budget discipline with President Obama’s budgets which required deficit spending at 7.5% of GDP; President Bush’s budgets which required deficit spending at 3.3% of GDP; and the average of all Federal Presidential budgets during the last 40-year CBO-baseline period which required deficit spending at 3.0% of GDP! As James Carville might say, “..It’s the Federal budget deficit spending, stupid!”
Posted on: Sun, 27 Oct 2013 20:42:31 +0000
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