Re: Biden presidency predictions
Posted: Sun Sep 12, 2021 3:01 pm
jusplay4fun wrote:
Democrats can share in the blame for this mismanagement with their Republican counter-parts in the US Congress. And nearly every recent US President has HUGE budget deficits and ADDS to the National Debt. And WHO was the LAST US President to BALANCE the Federal Budget? I will let others look it up.
The first, last, and only president to actually pay off the debt was Andrew Jackson.
Since then, almost all have added to the debt.
Truman had a budget surplus on paper, but it was almost entirely a result of the war ending and being able to sell off all kinds of things that had been bought on credit during the war years, so it was really just an accounting cleanup.
Eisenhower came close to a balanced budget, but not quite.
In our time, the only president to even attempt to get to a balanced budget was Clinton. Although he was a long way off from a balanced budget, he at least slowed the rate at which the debt was growing. A small win, but significant.
Then Bush Jr. threw open the floodgates and no president since then has even attempted to show restraint.
https://en.wikipedia.org/wiki/History_of_the_United_States_public_debt#Historical_debt_levels