Plato: Someone mentioned spending being cut and insinuated that the last person to do it was Bill Clinton. Not so. Guess who was the last person to cut spending and then guess who the last person to cut spending significantly. 2 different presidents.
Socrates: I have no idea, but seems to be N/A in this election. ;D
Ulysses: Depends on how you define "cut spending"
Sgt. Preston: I've done 0 research on this but my first guess is that one of them could be Truman or Eisenhower following WWII aka "the big one". I know that spending vs GNP dropped dramaticly after the war. The other I'll guess Andrew Jackson.
Jack Galway: Please tell us that you define "cutting spending" as follows. In an earlier year, spending = X, then in a later year, spending = Y, where Y must be < X.
And that "significantly" >= 20% ^ "significantly" = "permanent"
Plato: Obviously it wouldn't be zero or we wouldn't be in the mess we are in. A large drop over a period of time. Someone got it right but isn't sure about it so no points for him. ;D
Sgt. Preston: Well...my "guess" was based on some knowledge. I knew that Jackson more or less paid off the national debt...but I don't recall ever learning if he reduced spending in any significant way (is paying debt, spending?). As for Truman/Eisenhower...I would lean more to Truman just because of the significant spending...almost 100% of GDP that was taking place during the war had nowhere else to go but down. The cost of the Marshall Plan was significant but not on the scale of a world war.
Plato: DDE was the last to cut spending from one year to the next. Truman cut spending significantly, about 75% from 1945-1948. The biggest increase in spending happened under Bush II.
Jack Galway: Thus, my affection for dde (aka I Like Ike)!
As the oldest regular in this Political Asylum, I find it stunning that none of us have ever voted for a potus who accomplished this. My earliest possible potus vote was in lbj/goldwater, and I have been reminiscing over ike ever since.
The die has been cast for all of us, throughout our lives. Yet we take no notice of what we are doing to OUR children and heirs.
Just like congress, we are borrowing it forward.
©2008 Jack Galway, all rights reserved. You must have written permission from the author in order to republish this work.
Published: Thursday, October 30, 2008
Last modified: Thursday, October 30, 2008
The views expressed in this article are those of Jack Galway only and do not represent the views of Nolan Chart, LLC or its affiliates. Jack Galway is solely responsible for the contents of this article and is not an employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.
Report violation by Jack Galway of Nolan Chart LLC's terms of use policy.
| More Articles By Jack Galway |
Reader Comments:
Posted By: daddysteve
Date: 2008-10-30 14:57:20
Amen. The politicians didn't have the guts to tax us for 10 trillion so they taxed our grandchildren instead. Apparently the sheeple just care about being sheared today.