US Federal Deficit Spending Years 2000-2021

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D-train
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Re: US Federal Deficit Spending Years 2000-2021

Post by D-train » Sun Mar 26, 2023 12:06 pm

These companies wouldn't have survived even if Trump was in office. Interestingly while some of the business models were absurd, some still exist today. Chewy instead of Pets.com for example...

https://money.cnn.com/gallery/technolog ... index.html
dt

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Cascade Kid
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Re: US Federal Deficit Spending Years 2000-2021

Post by Cascade Kid » Sun Mar 26, 2023 2:50 pm

D-train wrote:
Thu Mar 23, 2023 10:41 pm

What does that weird word Surplus mean. I have never seen that used to describe the Federal Government's bottom line
Lol. It's the cursive or manual transimission of the US budget.

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Cascade Kid
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Re: US Federal Deficit Spending Years 2000-2021

Post by Cascade Kid » Sun Mar 26, 2023 3:32 pm

A very good friend of mine Ret. Admiral Bill Owners had been nominated by president Clinton to serve as the Vice Chairman of Joint Chiefs.

I asked Adm. Bill what he had thought about Clinton. He said to me, "I don't care for him much as an American. While I went off to Vietnam with many other Americans to fight a war, he dodged the draft using his connections which isn't honorable. But I will say that he is a hell of an administrator. He's the only president in recent memory that has operated a budget into a surplus. Today our deficit has become my top concern as our grandchildern will have to eventually pay for the debts we have piled up, and this is not fair to them." Adm. Bill has retold me this statement a number of times.

Adm. Bill is on the Fiscal Responsibility Amendment which aims to establish a balanced budget amendment to the Constitution. The reasons why this amendment is important to him is, not only will our grandchildern need to play this debt, but some of our international debt holders such as China will eventually demand the debt to be paid. "Thought China doesn't mind holding some of our debt, it will not standby as America recklessly services its needs through a exponentially growing red ledger".

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Walla Walla Dawg II
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Re: US Federal Deficit Spending Years 2000-2021

Post by Walla Walla Dawg II » Mon Mar 27, 2023 2:59 pm

D-train wrote:
Sun Mar 26, 2023 11:50 am
Walla Walla Dawg II wrote:
Fri Mar 24, 2023 6:29 pm
GL_Storm wrote:
Fri Mar 24, 2023 12:55 am
Yeah, Clinton actually balanced the budget believe it or not, but Bush couldn't leave well enough alone. He was desperate to cut taxes and get us back to deficit spending. To be fair, there was a recession happening right then from the dotcom crash.
The dotcom crash that Clinton caused. And you can see the 'surplus' was getting smaller and smaller.

It should also be pointed out that our government (Clinton) had nothing to do with the dotcom boom, but he and the government sure had a lot to do with that bubble bursting.
The bubble burst because people started realizing companies with 7 million in revenues should not be valued at 7 billion dollars.
Can't argue that either. But the fact is still......
This was the dotcom economy and Clinton had nothing to do with it. But he did have something to do with the crash of it.

GL_Storm
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Re: US Federal Deficit Spending Years 2000-2021

Post by GL_Storm » Mon Mar 27, 2023 5:03 pm

Walla Walla Dawg II wrote:
Mon Mar 27, 2023 2:59 pm
D-train wrote:
Sun Mar 26, 2023 11:50 am
Walla Walla Dawg II wrote:
Fri Mar 24, 2023 6:29 pm

The dotcom crash that Clinton caused. And you can see the 'surplus' was getting smaller and smaller.

It should also be pointed out that our government (Clinton) had nothing to do with the dotcom boom, but he and the government sure had a lot to do with that bubble bursting.
The bubble burst because people started realizing companies with 7 million in revenues should not be valued at 7 billion dollars.
Can't argue that either. But the fact is still......
This was the dotcom economy and Clinton had nothing to do with it. But he did have something to do with the crash of it.
No, not really. Like every other recession, there was overcapacity in the economy. In this case firms had overbought and overhired preparing for Y2K and for dotcom business models that couldn't make money. It was very classic end of an American business cycle going from boom to bust.

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