Charts of the Day
(Via Jim Hoft)
During the clock-cleaning that Sharron Angle delivered to Harry Reid at their one and only debate, the embattled Senate Majority Leader claimed that President Clinton left his successor, President George W. Bush, a $7 trillion surplus. Like myself, I’ve no doubt there are millions of people wondering from which orifice Mr. Reid pulled that from. Looking at the chart, there were three years of budget surpluses; add up the numbers, and you get a grand total of $490 billion, 93% less than the $7 trillion vomited up by Reid. And still, there’s two dirty little secrets not shared by the “illustrious” Democrat Harry Reid: Republicans were in charge of Congress, and the federal government’s wallet, when those budget surpluses came about; and, even with those surpluses, the debt wasn’t paid down and the national debt increased. Let me show you.
The Treasury Department lists the national debt of the federal government since 1791. If you take a look at Hoft’s chart, the debt for these years is detailed here and here. From that data, the critical years are here:
1994 – 4,692,749,910,013.32
1999 – 5,656,270,901,615.43
2000 – 5,674,178,209,886.86
2001 – 5,807,463,412,200.06
2002 – 6,228,235,965,597.16
2007 – 9,007,653,372,262.48
2008 – 10,024,724,896,912.49
2009 – 11,909,829,003,511.75
2010 – 13,561,623,030,891.79
You’ll notice that even during the so-called budget surpluses, debt increased. Now, the first full budget for the Bush years (2002) saw a very large rise in the debt, which got worse while Republicans had control of Congress; from the last Clinton budget for 2001 to the last Republican budget for 2007, the debt increased more than 64%. This was the case even as Republicans were passing budgets and doing what they could to decrease the budget deficits (even while fighting two wars, as liberals make it a point to note), as Hoft’s chart shows. Republicans were completely irresponsible with their spending, there’s no denying it. And they paid for it, and rightly so, when a very large chunk of Republicans were removed from Congress in the 2006 and 2008 elections. So a large number of those spendaholics are gone.
But in 2007, Democrats took control of Congress and began to dramatically increase the budget, along with the deficit and debt, for the 2008 budget. And since Obama became President, fugheddaboudit. Remember that a good chunk of the 2009 budget wasn’t passed until after Obama’s inauguration. Since Democrats took over Congress, the debt has increased 66%; 78% of that has come about in just the last 21 months.
More dramatic is this chart from The Heritage Foundation using numbers from the OMB:
This chart confirms one thing: it was always about federal spending, not whether tax rates were raised or cut. With the economic stagnation we’re in now, revenues are down by a great amount as spending (especially mandatory spending, as this chart from Heritage shows, also using OMB numbers) has increased immensely.
The Democrats are trying to scare the people into thinking about how fiscally irresponsible Bush and the Republicans were. Liberals are helping by insulting and denigrating Tea Party Republicans, especially those who are women, calling them stupid. Yet, we have Barbara Boxer telling people that $1.2 trillion in tax cuts were passed in Porkulus (the CBO has scored the entire bill, spending and tax credits, not cuts, as $814 billion) and Harry Reid saying that Bush inherited a $7 trillion surplus. Hoft’s post (where I got the first chart) points out the mendacity being spewed by Nancy Pelosi. What the Democrats are doing is saying that the American people are stupid. But as the facts show, the only stupid people are today’s Democrats and their liberal puppets.