Republicans Claim Credit for Clinton Surpluses

Still smarting after his budgetary beat down at the hands of President Obama Friday, Texas Congressman Jeb Hensarling and the Republican Study Committee this weekend invited a second round of punishment. "I stand by what I said," Hensarling said Saturday, referring to his manifestly ridiculous claim the previous day that "the old annual deficits under Republicans have now become the monthly deficits under Democrats." As it turns out, he wasn't talking about the red ink Republican George W. Bush. What he meant, Hensarling instead made clear, is the House GOP is now taking credit for the budget surpluses of the Clinton years, surpluses fueled in part by the 1993 deficit reduction package every single Republican in Congress voted against.
As sentient Americans will recall, the U.S. national debt tripled under Ronald Reagan only to double again George W. Bush. In between, President Clinton erased the GOP budget deficits, producing a $236 billion surplus by his last year in office and leaving Bush a 10 year forecasted surplus of $5.6 trillion. As President Obama made clear in setting Hensarling straight on Friday, he inherited a $1.2 trillion annual deficit when he was sworn in January 2009:
"Now, look, let's talk about the budget once again, because I'll go through it with you line by line. The fact of the matter is, is that when we came into office, the deficit was $1.3 trillion. -- $1.3 [trillion.] So when you say that suddenly I've got a monthly budget that is higher than the -- a monthly deficit that's higher than the annual deficit left by the Republicans, that's factually just not true, and you know it's not true."
While Obama is certainly right, Hensarling now insists was referring to something else. That something is Democratic blame for the Bush deficits and Republican ownership of the Clinton surpluses. As The Hill reported:
In anticipation of Obama rolling out his budget proposal Monday, Hensarling's Saturday statement cited Congressional Budget Office statistics putting the average deficit during 12 years of GOP House control at $104 billion and the average deficit under three years of Democratic control at $1.1 trillion.
The Republicans, as you'll remember, captured the House in 1994, maintaining control of the chamber until they were ejected in 2006. During that span, Bill Clinton presided over the end of the Reagan-Bush I deficits, only see to George W. Bush blow the surplus on tax cuts for the rich, the funded Medicare prescription drug program and the war in Iraq.
While Americans can look back fondly at the surpluses of the Clinton years, Jeb Hensarling wants them to forget that the Republican Party had very little to with it.
In 1993, Congress passed and President Clinton signed a half-billion deficit reduction package, one that included a boost in upper income tax rates to 39.6%. When Clinton's 1993 economic program scraped by without capturing the support of even one GOP lawmaker, the New York Times remarked:
Historians believe that no other important legislation, at least since World War II, has been enacted without at least one vote in either house from each major party.
Inheriting massive budget deficits and unemployment topping 7% from Bush the Elder, Clinton's $496 billion program was nonetheless opposed by every single member of the GOP, as well as defectors from his own party. As the Times recounted, it took a tie-breaking vote from Vice President Al Gore to earn victory:
An identical version of the $496 billion deficit-cutting measure was approved Thursday night by the House, 218 to 216. The Senate was divided 50 to 50 before Mr. Gore voted. Since tie votes in the House mean defeat, the bill would have failed if even one representative or one senator who voted with the President had switched sides.
The rest, as they say, is history. Except that Jeb Hensarling and Congressional Republicans are trying to rewrite it. In their telling, the spiraling deficits of the final Bush years are entirely the Democrats' fault. And the halcyon days of the Clinton surpluses and the flush Treasury he produced, Jeb Hensarling now mythologizes, were brought to you courtesy of the Republican Party.
(This piece also appears at Perrspectives.)



What amazes me is how many "progressives" on this site call the most successful Democratic president in years (albeit not 100%), a "republican" president, thus giving the republicans credit for his work.
Diabolus est Deus Inversus
Who said that? I want names. Links. many claimed he was a centrist and not a liberal, like Obama. Is that akin to calling him a republican?
Wait a few, they'll inevitably pop up on this thread.
Unless they see their shadow.
Diabolus est Deus Inversus
does that mean six more weeks of whiners?
smack down than that one.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
i guess that depends on what you call "success"... (see, welfare reform, telecom bill, GLBA, etc.) some might see that as "success", others not so much.
and, in relation to the budget surplus, paul krugman observed: "The huge budget surpluses of the Clinton Administration had a lot to do with the stock market bubble. They were not really a lasting achievement."
I would label the Clinton administration a big FAIL. Don't forget Nafta and Don't Ask Don't Tell. Remember all the bs about how great Nafta was going to be. And the Glass Steagal repeal. Thanks Bill.
..jumped right into the sack with China. And to Krugman's observation, maybe it was temporary but it was there when w gave it all away just before he needed it the most; well, that's one way to look at it. Another way to look at it would be, w wasn't the fiscal conservative the public thought he was so everyone voted for Al Gore but w got in because his daddy appointed the right supreme court tool..er, I mean, justice, and then rather than use the surplus to give moderate tax breaks across the board and shore up Social Security with the surplus, he proceeded to preside over the biggest economic collapse since the Great Depression.
Mickey: "It was an epiphany. Do you know what an epipany is?"
Keoni: "NOT NOW MICKEY!"
surfjac admirably addressed NAFTA, and as much as I hate defending Bill Clinton, the truth is more important.
Colin Powell wrote DADT, as a compromise bill that the Pentagon would accept, and Repugs could ignore. It is a terrible compromise, but it was the best that anyone was going to do at the time. I find it much more disturbing that it is has languished as the 'law of the land' for so long because I believe it was intended to be a stepping-stone. Once homophobes realized that gay people are just people, greater protections could be implemented. Still waiting.
Glass-Steagall was going to repealed no matter what Clinton did because bankers had been working on it since the Reagan days. And, it passed in the Senate 90–8 (one not voting) and in the House: 362–57 (15 not voting). A veto would not have mattered.
I pledge allegiance to the Constitution of the United States of America, and to the republic which it established, one nation from many peoples, promising liberty and justice for all
Wait...Clinton was a democratic?
controls the present. He who controls the present controls the future". ~ Big Brother.
Or words to that effect.....
vision of satanic Stalinism never came about, it is never to late to trot out Orwell.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Republicans from trying to perfect Doublethink.
..get this information out to the general public where they can see for themselves the lies the right will spew to delegitimize the President. I'm grateful to Jon Perr for this report but until more MSM does this kind of reporting and the public at large has a chance to decide for themselves whether republican'ts like hensarling are lying or not, well, is it going to matter?
Lie, repeat the lie, repeat the lie louder - that's how the republican'ts roll!
Mickey: "It was an epiphany. Do you know what an epipany is?"
Keoni: "NOT NOW MICKEY!"
If it comes from the right wing media it might be a lie,
simple as that.
The republicans are still saying Obama was the most liberal senator in the senate and yet no talking head questions them about this claim.
Say what you mean. Mean what you say. But don't say it mean.
to point out the hypocrisy of the local Rep. taking credit for stimulus projects she voted against but was heavily censored in the local media. You can't even point out the lies and bs when you aren't allowed to point it out.
http://www.youtube.com/watch?v=jxQbvSjQy9A
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
You should become a corporation and then you would have freedom of speech.
Say what you mean. Mean what you say. But don't say it mean.
to use exercise it.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Ah, but your number of "free speech units" will tell how much your speech will be heard.
Does this surprise anyone?
It is the republi'CON' MO to lie
The truth and the facts are irrelevant to these A holes and their supporters , they literally make up their own facts and " truth " . I ran into one of these Fox / Limbaugh listening morons yesterday , I was bidding a job . The clown asked me how things were going work wise , I said " dead to say the least " and that " I don't see any light at the end of the tunnel either " , the moron replied " and you won't under this administration " . Some of you see my posts , I'm just a little " passionate " shall we say , I want to land this job so I really had to bite my tongue , trust me . I drove off totally bewildered , these dumb fucks actually believe it when they blame Obama and the Dems for this economy , the deficit , literally everything ! Bush , the Repugs had nothing to do with it , the Dems caused it , it all happened the last couple of years after the Dems evened things up in Congress. It just boggles the mind . Probably best I didn't and don't say anything , these F'ers are totally brainwashed and are as dumb as a box of rocks so there's little point , never the less it was verrrrrrrrrrrrrrrrry hard to keep my mouth shut .
Insanity , it is what it is , there is no understanding it .
for keeping your cool. It's getting harder and harder for me to do so. And you are right, even if you lose it, it's not going to matter.
I share your frustration Kreskin. It is impossible to discuss something with someone who thinks its sport or entertainment. Just what it is to them. That's why accuracy and the truth are not that important to them. There's no keeping up with their fast and furious soap opera drama.
Fortunately I am starting to get a grip on my anger. You must understand that these people truly do live in an alternate universe. Their own language and code words, their own memory of history, their own vast media you name it.
I just say in their reality it may be but in mine, not so much.
The thing that scares me most is there are so many of them? How is this possible? Are there that few people remaining that care?
Rewriting history is an artform to these people. They are standing in the way of getting our country out of the depression they put us in. This kind of crap goes hand and hand with a previous thread that discussed how these fools are voting against stuff they supported. And they are taking credit for stimulus money and projects they voted against all across the country. My former local Rep. Emerson of the State of Misery did this about a month ago, I was censored out the local paper and media for trying to point this out. We have a major problem with these fools and their media lackeys. Obama calling them out once or twice a year isn't going to do anything to fix it either.
Their heels are dug in and no matter what the President says to them, they aren't going to budge. The only thing on their minds is getting the power back and the country be damned.
Say what you mean. Mean what you say. But don't say it mean.
will the Dems realize this and just move ahead without them? I've pretty much given up on that thought. I knew we were screwed when the stimulus was no where big enough to do the job.
Joe Scarborough still claims that while he was in congress during the Clinton years that it was the republicans who forced Clinton to balance the budget therefore they are responsible for the surplus.
Say what you mean. Mean what you say. But don't say it mean.
Someone should remind Scarborough that Clinton so badly outmaneuvered the GOP majority that he got them to shut down the government TWICE so that ultimately they passed HIS budget.
He made Gingrich look like a rank amateur.
Vote GOP and move forward to the 18th Century.
Joe also found a dead female intern in this office one day.
that the Republican Party is responsible for puppies and kittens and unicorns? And when they go to the bathroom, they sh*t actual RAINBOWS! How can you blame the people that are God's Own Party for anything?
http://www.youtube.com/watch?v=kh-IsQ6XCyg
Diabolus est Deus Inversus
"Taste the rainbow?"
After my comment.
Ew.
Is that what those rainbows on the rear windows are all about?
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Assholes must grow on trees in Texas.
I'm Texan.
Diabolus est Deus Inversus
do you grow on a tree?
I grow a woody.
Diabolus est Deus Inversus
Hopefully not like the guy that grew a pine tree in his lung.
http://www.youtube.com/watch?v=zB2gPZRsz0Q
grow on trees.
Updated corollary...
Trees are woody.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
a pretty picture here during autumn.
we are up to our nuts in fallen assholes.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Pears.
or Pairs.
or au pairs.
http://rlv.zcache.com/when_i_grow_up_i_want_t...
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
It was clear during the primary and election, Obama is not a progressive, he is a centrist. Not completely a bad thing, but still not what I would want in a great president.
why people are so disappointed in him. If you paid any attention to anything he said during the campaign at all, you know just what to expect from him. When he was asked in New Hampshire about impeachment his answer was no, because it was too "political", that answer told me all I needed to know.
People who are disapppointed are unwilling to admit Obama did not share their dreams of incarcerating half of the Bush administration, nationalizing the banks, socializing medicine, replacing unemployment benfits with a Happy Days version of the WPA where we learn Woody Guthrie songs laboring in the clean outdoors, and various other goodies. They want to believe his election meant those things were why he was elected so they can complain about them not materializing afterward. Otherwise they have to admit they are in a distinct minority. That's less fun than imagining you are being pissed on.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
you can knock down strawmen with the best of 'em
diploma from Wizard University.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
i guess congrats are in order
I'm waiting for a call from Obama to announce the forgiveness of my student loan.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Shoulda the antonym for surpluses
Be
Surminuses?
Diabolus est Deus Inversus
Ladyminuses.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
Madamminuses.
Is too damn....French. And sounds like a pimp question.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
is contained in the phrase:
"As sentient Americans will recall,"
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
I think it's true we on the left definitely read too much into what Obama promised and said during his campaign , on the other hand he played us too . Unless there is an end to his rope and he stops being a patsy for the Repugnants he'll be a one term President . Stays center / moves right and he is finished ( and we are screwed ) , the MSM is as usual ... full of crap . My humble opinion .
Insanity , it is what it is , there is no understanding it .
..but from a geopolitical point of view, incarcerating the last administration's war criminals, starting with w himself, would go very far in re-establishing our credibility around the world that we are a nation of laws. Then maybe, obl wouldn't be laughing so hard at us.
I've resigned myself that it will never happen though and I won't be voting for Obama the next time around since he failed to make it happen. He may still be elected and he may not; won't matter if we don't hold criminals accountable for their actions. We've lost the hearts and minds of the world and he'll be viewed as no better than w. Too bad, there was so much hope for change.
Mickey: "It was an epiphany. Do you know what an epipany is?"
Keoni: "NOT NOW MICKEY!"
I too voted for Obama because I knew world respect was dependent upon us using the democratic process to incarcerate preceding regimes rather than military coups. Once his laughter stops Obama will grow a healthy respect for us. He might even join the Baptist Church.
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
There's no evidence that it was the 1993 bill that created the surplus. Without the stock market bubble and the internet boom (as Paul Krugman explains) there wouldn't have been a surplus. The 1993 DRP was a good bill and a step in the right direction, but on it's own it only reduced the deficit.
right?
“Why would anyone with a functioning brain believe this guy?”
Some guy with an eating disorder
How can the Republicans take credit for the stock market bubble and internet boom? If anything, Al Gore deserves a lot of credit for advancing the internet. He gets made fun of by the right, but he did do a lot to make the internet what it is today.
Until the Senate's UnConstitutional "60 vote rule" is overturned the Senate will continue in gridlock.
Dems!! Grow A Pair! Overturn the Senate's "60 vote rule" ..
Nowhere in the Constitution does it require a super majority in either the House OR the Senate.
And it only requires a SIMPLE MAJORITY to overturn the "60 vote rule."
DO IT !!
When will government of the people, by the politicians, for the corporations perish from this Earth?
Not soon enough!
They were the ones in control of congress back then.
So they get the credit. Now, this current financial crisis is Obama's fault. Because he's in the Oval office.
Can't you guys see it?
First the financial crisis in the early 2000's were Clinton's fault.
Now, this one is Obama's fault.
It's crystal clear. C'mon you guys.
What is your conceptual, continuity?
Newt Gingrich and plenty of other conservatives have been making the claim that it was the Republican Congress, not Clinton, that brought about the surpluses in the '90s. Just remind ANY conservative who makes this claim that if that were true, it would've been amplified when Republicans had Congress and the White House during the early part of this last decade. Rest assured, 9/11 will come up, so when that happens, ask them how 9/11 prevented Republicans in Congress and President Bush from balancing the budget. They're whole world will fall apart and they will try to find the right talking point from Rush, Hannity, etc. to explain away or make you seem crazy.
Then the Democrats can fill the air with ads spelling out how the Goopers stood up for obscene Wall Street bonuses.
Oh, and isn't it amazing how "the will of the people" becomes "populist pandering" as soon as the sides switch?
... but would it be conceivable that this could be a right-wing conspiracy to sink Pres. Obama?
I find it difficult to believe that out of a group of 41 they all 'think' exactly the same.
If you need funds to pay for essentials, you have a revenue problem
If you need funds to pay for frivolity, you have a spending problem
When progressives continually uncover facts proving Republi-klans are greedy and selfish?
Wow, they are claiming credit for something the claimed never existed for 9 years.
Stay classy repubs
The M stands for MORON. 1) He IS from texas so that's at least two strikes to start with, 2) He's stupid, so that another strike, but that's normal for a texas politician so it may be only a half, 3) someone needs to mess his hair piece up cause it looks like he stood under a pigeon roost too long in a hard rain, and 4) He can't and never will get the math surrounding ANY budget recommendations he hasn't done in his spare time at the local grade school. In his mind 2+2= 9.6 ..... BUT that's resluglican math...
...for either balancing the budget or running up huge deficits.
Ronald Reagan's proposed budgets, although they had different priorities than those of Congress, ran up debt at virtually the same rate as those that were finally passed by Congress and signed by the Gipper. It's possible that there would have been marginally smaller deficits if Reagan had been the sole arbiter of national priorities -- he would have gutted every social program that he thought he could gut without risking re-election. Since Reagan knew only too well how stupid the American electorate is generally, that means he probably could have done an unbelievable amount of damage before most Americans woke up.
In the case of Clinton, it makes no sense to claim that the surpluses were due to Republican restraint. We saw what Republicans do when they control Congress and the White House simultaneously. Clinton, no favorite of mine, deserves the lion's share of credit for the budgetary restraint that emerged in the late nineties. But it was not irrelevant that the combination of a Democratic president and Republican Congress resulted in reduced deficits. Had the Democrats controlled both houses, it is still possible that we would have had deficit reduction, but I doubt if it would have been as much as we saw with the GOP in control.
The latter day claims of Republicans that the deficit reduction of the late nineties was due to Republican's responsible behavior is pure bunk. If there had been a Republican in the White House, we'd have seen the same kind of grotesquely irresponsible tax cutting (for the wealthy) and unpaid for new programs (Medicare drug bill) that we saw during Bush's tenure, unless the president himself had wanted to cut, in which case I imagine he could have gotten a majority in both houses to support him. The problem with the Republicans is they are insane (as well as dishonest). All they care about is power and getting elected and re-elected. Passing the drug bill was designed to attract votes, otherwise they would have figured out a way to pay for the bill -- a slight oversight on their part with serious budgetary implications.
If Republicans controlled both houses now, I'm quite sure we would have smaller short term deficits. There probably wouldn't have been any stimulus package beyond more tax cuts. In the short run, the numbers might have looked better, but we'd probably have much higher unemployment now, not to mention the disaster that would befall all those who had exhausted their unemployment benefits. With both houses controlled by Republicans, a global depression would certainly have been possible. Just think what that would have done for budget deficits.
The "Lost Years" (2001-2009) were a disaster for this country. Instead of taking the budget surpluses they were handed from the Clinton years and building on them, they chose to wreck our fiscal house with idiotic tax cuts, which incidentally, despite all the ideological tripe we're constantly fed by the Right, did not result in substantial economic gains. Rather we relied on reckless and corrupt fiscal policies to dig ourselves a hole so deep we may never get out. Had Bush and Congress used the surpluses and prevailing tax structure to pay for the drug benefit, it seems likely we could have continued to generate surpluses (if Greenspan didn't freak out too much) while giving even better prescription coverage than the actual bill provided.
I've felt for some time that contrary to Bush's assertion that he will be vindicated by history, it's much more likely that his two terms in office will be seen as the turning point in American history -- a time from which we never recovered.
First, no one can take credit for a surplus because there was not one. If you would spend 2 minutes on google you can easily research this. His final fiscal year he had a deficit of 133.3 billion dollars. Not what I would call a surplus. (http://www.craigsteiner.us/articles/16)
Bush was no conservative and the Republican congress got away from it's core principals. Obama's statement that he inherited the deficit from Bush's 2009 budget was extremely disingenuous. If you look back at the voting record for Obama and that budget you will see he clearly voted for it. A budget that was primarily written my the Dems that controlled both the house and senate. It was voted for by Obama, Biden, Clinton and Emanual. Bush should have vetoed it so he does get some of the blame.
The original deficit for the 2009 budget was projected at
$482b. This did not include TARP. When TARP was added it ballooned to over $1 trillion. If you look at voting records you will see that again Obama, Clinton and Biden all supported TARP. If you remember, Bush said he was signing TARP because he did not want the incoming president to hit with this on his first day in office and he felt it would make the transition easier.
You want to blame Bush for all the economic problems. Well, CRA was not his fault (Obama did sue CitiBank on behalf of ACORN to force them to lend in bad areas.) Mark to Market accounting rule changes were not his fault. The derivatives market was not his fault (look at Greenspan and Geithner.) So, if you want to blame Bush, please be specific and give exact reasons as to why he is to blame. If I recall it was the Dems that supported Freddie and Fannie saying all was ok and there was no need for further regulation.
As for the never ending argument about tax cuts for the wealthy, the bottom 50% of wage earners in the US pay no income tax. The top 10% of wage earners pay 70.3% of collected income tax. Under Bush, the bottom 50% that pay no taxes actually got in increase in their refund. So, how is this unfair? Again, please be specific in your response.
I am a volunteer tax preparer. I have worked with several different groups that help low/moderate income taxpayers get all the benefits to which they are entitled(this year mostly Benefit Bank, although I do have my VITA certification). I am not seeing what you describe playing out in the real world.
I have seen single taxpayers with GROSS income of $16,000 ($8/hr)only get back half of what they pre-paid, so it is not correct to say that the 'bottom 50% of wage earners pay no income tax'. This year, the EIC is available to taxpayers who do not have a qualifying child, but the adjusted gross income limit is $13,440 if you are single(a little less than minimum wage), so I am not seeing full-time workers qualify.
Many taxpayers are being caught unaware that their withholding had been adjusted, so they are not seeing the returns that they have in the past. I am filling out new W-4s for nearly every client. You may argue that they got more money throughout the year, and in some cases that is correct. However, many workers whose withholding was reduced, also faced shorter hours, and in some cases wage cuts, so they are not seeing much benefit from the changes.
Another thing to keep in mind, is that it is the salaried and hourly worker pre-pay their taxes, and where would the government be without that income every quarter?
People without children have very few ways to reduce their tax burden this year, regardless of their income level.
I pledge allegiance to the Constitution of the United States of America, and to the republic which it established, one nation from many peoples, promising liberty and justice for all
and if not for the banking mess, which has been brewing for the last 30 years, would have been surplusses again in two or three years, if the present course had been sustained.
Old link - http://www.washingtonpost.com/wp-dyn/content/.... You can find the same, or similiar data at http://www.cbo.gov/.
The budget surplus that Clinton had ($236 billion) was halfed before he even left office. Most of this was due to tax revenues dropping as the dot com bubble burst (a nice little recession that Clinton left Bush that nobody talks about).
Deficits grew until 2004, then began to rapidly shrink until 2008 under GWB.
There is a huge deficit in 2008 and 2009 due to the banking welfare program that Paulson and Bernanke started (which, by the way, Obama has continued nonstop without even a hiccup). These deficits had little to do with fiscal policy and alot to do with bank lobbyists owning congress for the last 30 years.
CBO projects huge deficits under Obama that will shrink some, then steadily grow after around 2012. Those probably will be revised down now that the healthcare mess is probably dead and cap and trade won't go anywhere soon either.
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