My original answer to the cartoon is still relevant today, so I shall let it stand.
So, what do you think?
Anni
Greenberg cartoon 08/08/2008
My original response dated August 15,2008
Real cute. Ha Ha. I did laugh.
So it kindled my interest.. how true is that cartoon???
First, we need to compare who controls the purse strings in Congress, with who is in the majority leadership there during each year. Truly it's Congress where deficits are controlled. Spending is approved and controlled by Congress and not the President, since the President can only propose a budget, large or small, and he can only veto it when presented on his desk. If Congress can over-ride his veto, most likely the President will sign it.
Here's the Congressional Budget Office record...year by year http://cbo.gov/budget/data/historical.pdf what's missing that I don't have time for is.. which side was in charge each of those years.. I know some but not all.. even with that
what we also have to consider is the domestic and world events that went on at that time which may have needed emergency funding not normally done. Scroll down on the paper for break down the cost of medicare, social security and defense spending. As to who was in majority each year, it's not noted, but there are other sources to fill in these gaps.
As you study the figures, note the record revenues collected since 2004 as I pointed out before (for those who think we don't pay enough taxes)and note year 2000 when the highest earnings were realized from the stock market during the .com era; not everyone went broke when the bubble burst. 2003 was the lowest point in the stock market for the decade so look at the revenue collected that year and then the continued growth of tax income as the economy grew and the stock market grew.
Also note debt held by public during the Clinton years & Carter years so it's not just Reagan and Bush.
By this comparison, Clinton is the worst until 2003 when the Iraq war started and as a side note, the fact that Clinton kept thwarting military budget and therefore reduced our defense spending, we have to question how come his administration outspent his predecessors overall, since you want to compare presidents per this cartoon.
Also, take note of the table : Revenues by Major Source which is an eye opener for those who think Corporations don't pay taxes.
Again also see how in residue of dot com boom, 2000, 2001, 2002 dip in markets and then growth in revenues as the economy recovered. Look at 2006 & 2007 for corporate tax revenues collected during the supposed favoritism toward corporations by tax reductions. Tax reductions started in 2003; the CBO figures bare out that tax reductions work and that people earn more and pay more when tax rates are lowered.
Here's a few more educated democrats point of view with facts: I know it's to 2006 but remember after 2006, Democrats took majority leadership in Congress, so I wouldn't want to start digging around how they handled the final years of the Bush administrations budget.
http://engram-backtalk.blogspot.com/2006/10/update-on-federal-budget-deficit.html
also, please read Clinton's support for budget balance here:
http://www.senate.gov/~rpc/releases/1997/TPBUDRES.2.htm
Believe me, I'm not happy with either side in Congress about how they waste money.
Thanks for this... I learned a lot doing the research
Anni
