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Didn't we also have a financial crisis in the late 90s? Asian financial crisis, Dotcom bubble? Was the surplus during those years?

oblio 2y ago
Fairly sure Clinton left with a surplus. The Asian financial crisis primarily affected... Asia, and the dotcom bubble wasn't a humongous issue outside of IT, which was a much smaller sector back then.
- Jtsummers 2y ago
  https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/ https://fiscaldata.treasury.gov/americas-finance-guide/natio... Yes, he did. Deficit spending returned with George W Bush, reaching a high with the Global Financial Crisis, was getting back under control until Trump, and then peaked with COVID.
  - ceejayoz 2y ago
    edit: Whoops.
    - deleted 2y ago
      [deleted]
    - Jtsummers 2y ago
      > getting back under control until Trump You seem to have misread my comment, I wrote "until", not "under". Also, it actually increased twice under Obama. The peak before COVID was in FY 2008 (fully under Bush), then it was slightly better in FY 2009 (Bush and Obama), then rose again in FY 2010 (fully Obama), then declined until FY 2016 when it rose again (fully Obama) and continued rising under Trump.
      - ceejayoz 2y ago
        Argh, my bad. Definitely a misread on my part.
        Jtsummers 2y ago
        No worries, you actually had me questioning what I wrote and I had to make sure I didn't mistype "under" for "until". macOS is aggressively wrong with autocorrect and I hadn't turned it off on this computer.
- dragonwriter 2y ago
  > Fairly sure Clinton left with a surplus. 1998-2001 had budget surpluses [0], but despite some quarterly drops, the national debt was generally climbing all through that period. [1] [0] https://fred.stlouisfed.org/series/FYFSD https://fred.stlouisfed.org/series/FYFSD [1] https://fred.stlouisfed.org/series/GFDEBTN https://fred.stlouisfed.org/series/GFDEBTN
Jtsummers 2y ago
All these numbers are public. I linked this in another response: https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/ https://fiscaldata.treasury.gov/americas-finance-guide/natio... But you can get a lot of data from this site: https://fiscaldata.treasury.gov/datasets/ https://fiscaldata.treasury.gov/datasets/

oblio 2y ago

Fairly sure Clinton left with a surplus. The Asian financial crisis primarily affected... Asia, and the dotcom bubble wasn't a humongous issue outside of IT, which was a much smaller sector back then.

Jtsummers 2y ago
https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/ https://fiscaldata.treasury.gov/americas-finance-guide/natio... Yes, he did. Deficit spending returned with George W Bush, reaching a high with the Global Financial Crisis, was getting back under control until Trump, and then peaked with COVID.
- ceejayoz 2y ago
  edit: Whoops.
  - deleted 2y ago
    [deleted]
  - Jtsummers 2y ago
    > getting back under control until Trump You seem to have misread my comment, I wrote "until", not "under". Also, it actually increased twice under Obama. The peak before COVID was in FY 2008 (fully under Bush), then it was slightly better in FY 2009 (Bush and Obama), then rose again in FY 2010 (fully Obama), then declined until FY 2016 when it rose again (fully Obama) and continued rising under Trump.
    - ceejayoz 2y ago
      Argh, my bad. Definitely a misread on my part.
      - Jtsummers 2y ago
        No worries, you actually had me questioning what I wrote and I had to make sure I didn't mistype "under" for "until". macOS is aggressively wrong with autocorrect and I hadn't turned it off on this computer.
dragonwriter 2y ago
> Fairly sure Clinton left with a surplus. 1998-2001 had budget surpluses [0], but despite some quarterly drops, the national debt was generally climbing all through that period. [1] [0] https://fred.stlouisfed.org/series/FYFSD https://fred.stlouisfed.org/series/FYFSD [1] https://fred.stlouisfed.org/series/GFDEBTN https://fred.stlouisfed.org/series/GFDEBTN

Jtsummers 2y ago

All these numbers are public. I linked this in another response: https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/ https://fiscaldata.treasury.gov/americas-finance-guide/natio... But you can get a lot of data from this site: https://fiscaldata.treasury.gov/datasets/ https://fiscaldata.treasury.gov/datasets/