When did the government start spending more than it had in tax revenue?
30.November, 2009
In fairness, the tax revenues have fallen precipitously and caught the feds with their pants down.
Will they tighten up the belt under the circumstances? I rather doubt it. Democratic-held Congresses never meet a spending bill they dont like.
30.November, 2009 um 8:43 am
Cuz you need a bed to flip over in front of your door when those scary a** zombies start commin into the house. It will give you time to escape. Once you have flipped your bed over grab the shotgun that is duct taped underneath it and head for the back yard. Ok now that you have escaped those car hot wireing skills will come in handy. You grab your tools from the shed and head for the neighbors hummer, it defanantly has zombie splattering potential. Right as you get the door to the hummer open the zombies notice you! You hop into the car and frantically start ripping away at teh wires underneath the steering wheel. Zombies have surrounded the Hummer and are banging on every window and are beginning to climb on top of your veichal. At last the car starts and you speed off into the distance. You now know it is your Destiny to save the human race.
References :
30.November, 2009 um 9:11 am
Sometime around the 1960’s.
References :
30.November, 2009 um 10:00 am
Reagan perfected it…
References :
30.November, 2009 um 10:42 am
When people were persuaded by democrats that the rich were holding them down.
References :
30.November, 2009 um 11:12 am
It was part of the "New Deal"…
Google "deficit spending".
References :
30.November, 2009 um 11:31 am
They always have but now it is more relevant because the unemployment rate is so high.
References :
30.November, 2009 um 12:08 pm
Deficit spending has been around a long time.
References :
30.November, 2009 um 12:47 pm
In fairness, the tax revenues have fallen precipitously and caught the feds with their pants down.
Will they tighten up the belt under the circumstances? I rather doubt it. Democratic-held Congresses never meet a spending bill they dont like.
References :
30.November, 2009 um 1:33 pm
Lincoln. It started there and was perfected during FDR.
References :
30.November, 2009 um 2:02 pm
When radical jihad terrorists starting killing innocent people over what a false prophet brainwashed them too do to take over the world. We have to stop them , and Im afraid Obama is making it easier for them to destroy the world.
References :
30.November, 2009 um 2:49 pm
It started during WWII. When we got that pretty much paid off, Reagan cut taxes without cutting spending. Clinton got us back on track. Then Bush cut taxes and started the War in Iraq and things got really out of hand.
References :
30.November, 2009 um 3:18 pm
1980’s Regan, before Regan the US was the #1 importer of raw materials after Regan it was the #1 exporter of raw goods, all our factories shut down, went to china.
References :
30.November, 2009 um 3:50 pm
Around 1913 when the federal reserve came into being.
They wanted a central bank because it granted them the ability to appropriate money without asking permission first.
References :
30.November, 2009 um 4:16 pm
It started during Washington’s administration.
References :
30.November, 2009 um 4:27 pm
The most recent time is 2001, when GWB was elected and handed a budget surplus by Clinton. He built the yearly deficit up to over a trillion dollars and handed that mess to Obama.
If you give me a thumbs down, its time for you to get off of this site and do some research so you know what you are talking about.
References :
30.November, 2009 um 4:40 pm
The Republicans.
They pandered to the greed and stinginess said LESS TAXES!
Well you tell me, if it don’t cost sheat, was it even worth sheat.
References :
30.November, 2009 um 4:52 pm
When neo-conservatism took over our system. Clinton tried to fix it but the neocons kept plummetting the surpluses.
References :
30.November, 2009 um 5:14 pm
B.C……!
References :
xxx~!
30.November, 2009 um 6:04 pm
Reagan was the first president to enact deficit spending as policy, though the practice has been around since the United States’ inception.
@ Really Tired of Stupid People – You’re tired of yourself, then? Clinton did pay off some of the debt. In fact, he had us set on track to have it all payed off within a couple years after he left office which gave confidence to some financial markets. Bush ran for office with the promise to refund the surplus to the people instead of paying off the national debt which caused some markets to panic and ushered in a brief recession after he took office.
References :
30.November, 2009 um 6:37 pm
Ok it started under FDR. But I must defend Reagan on this In fact Reagan cut spending,Cut taxes, and left office feeling his great failure had been the fact that the national debt increased under his watch. He spent a lot of money of national defense. Which during the cold war was..you know…..kind of important. Clinton himself has said he learned from reagan, and used his economic model as the basis for his. The problem with Clinton was that he raised the taxes again, and yes he cut spending but did not even make a dent in the national debt, because instead of paying some of it off with the BUDGET SURPLUS, he gave us our money back. WE HAVE TO PAY BACK THIS DEBT SOMEDAY, WHY NOT THEN?
References :
30.November, 2009 um 6:50 pm
The Government has been borrowing and adding to the national debt for 200 years.
Borrowed to pay for Wars – 1812, Civil war, WWI, WWII, Viet Nam, Iraq/Afghanistan
Borrowed to invest in infrastructure – Intestate Highways, Dams, Bridges
Borrowed to buy lands – Louisiana Purchase, Alaska, Virgin Islands, etc.
Borrowed to build up military – Reagan
Borrowed to fund Tax Cuts – Reagan, Bush 1, Bush 2
Borrowed to stimulate economy – Kennedy, Nixon, Carter, Reagan, Clinton, Bush 2, Obama.
There have been only a few periods when we really were not borrowing much, Most recently the last half of the 1990’s. But since the mild recession of 2001 the borrowing has been astounding. Bush 2 Doubled 200 years of accumulated debt in just 7 years from 5 trillion to 10 trillion. Obama will Double it again within his 2 terms (assuming he has 2 terms) if spending at this pace continues without higher taxes.
And that is the thing – Today Federal tax rates for every American, Investor or Business has not been lower than at any time in the past 70 years. The reasons are deficits are so high is not out of control spending, but out of control tax cuts.
References :
30.November, 2009 um 7:23 pm
During the Civil War in 1862.
References :
30.November, 2009 um 7:46 pm
It began when it borrowed money to wage the Revolutionary War. In other words, before it even came into existance.
Here is a chart showing the Federal Government’s debt per year starting from 1791. You will note that it grows in almost every year. The only time it was ever close to paid off entirely was briefly during Andrew Jackson’s presidency. Link!
http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo1.htm
Of course, we have hit record levels of overspending nowadays that would have boggled the minds of our predecessors. The question is what we’re going to do about it.
References :
30.November, 2009 um 8:36 pm
man you libs are dense. Reagan this Reagan that… unreal
we started borrowing more money than income during the revolutionary war. Look it up. I know you dont learn histroy anymore but its in those things called books. and the highest debt to gdp ratio was during WWII.
http://www.ask.com/bar?q=debt+to+gdp+ratio+history+us&page=1&qsrc=0&ab=1&u=http%3A%2F%2Fwww.optimist123.com%2Foptimist%2F2005%2F01%2Fnational_debt_b.html
References :
30.November, 2009 um 9:23 pm
before you were born
References :