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It's crazy how in 1992 the US federal deficit was 4% of GDP During Clintons term this turned around to being a 2.3% surplus in 2000. Just 25 years ago the US w
by iso1631 10mo ago
It's crazy how in 1992 the US federal deficit was 4% of GDP
During Clintons term this turned around to being a 2.3% surplus in 2000. Just 25 years ago the US was spending less than it was taking in tax.
The Bush came in and that surplus became a 3.3% deficit by 2003, and then the GFC crashed it to 9.8%.
While Obama was in, it crawled back from 9.8% deficit to 3.1% by 2016 - same value as before the GFC
Since then it's gone back to 6% of GDP
https://fred.stlouisfed.org/series/FYFSGDA188S https://fred.stlouisfed.org/series/FYFSGDA188S
- cheema33 10mo agoAre you telling us that the party of golden ballrooms... err.. fiscal responsibility is not actually being fiscally responsible?
- gjsman-1000 10mo agoYou tell me. It's not like the other party is doing better. California is posting a $18 billion deficit next year, despite the highest taxes in the country, and despite record tax revenue from the AI boom.
- ceejayoz 10mo agoThey had a $97.5 billion surplus in 2022. Seems like they're doing better overall than the Feds? Even the $18B ($450/capita) vs $1.8T ($5,300/capita) looks pretty small for a state that large.
- iso1631 10mo agoClinton and Obama seem very different results to Reagan/BushI and BushII Odd that.