Repubs response to Bill Clintons deficit reduction plan. 1993

[Blarch]

The Clinton deficit reduction plan was passed without ONE REPUBLICAN VOTE ...Al Gore cast the tie breaking vote. The republicans claimed it would destroy the country, instead it brought us a great economy with a record budget surplus and record job creation.

This is what the republicans were saying at the time.

"Clearly, this is a job-killer in the short-run. The impact on job creation is going to be devastating."
—Rep. Dick Armey, (Republican, Texas)

"The tax increase will…lead to a recession…and will actually increase the deficit."
—Rep. Newt Gingrich (Republican, Georgia)

"I will make you this bet. I am willing to risk the mortgage on it…the deficit will be up; unemployment will be up; in my judgment, inflation will be up."
—Sen. Robert Packwood (Republican, Oregon)

"The deficit four years from today will be higher than it is today, not lower."
—Sen. Phil Gramm (Republican, Texas)

"The President promised a middle-class tax cut, yet he and his party imposed the largest tax increase in American history. We hope his higher taxes will not cut short the economic recovery and declining interest rates he inherited… Instead of stifling growth through higher taxes and increased government regulations, Republicans would take America in a different direction."
—Sen. Robert Dole (Republican, Kansas)

This is what happened in reality...

WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.
http://archives.cnn.com/2000/ALLPOLITICS/stories/09/27/clinton.surplus

WASHINGTON (CNN) - President Bill Clinton said Monday that the United States would pay off $216 billion in debt this year, bringing to $355 billion the amount of the nation's debt paid down in the three years since the government balanced the budget and began running surpluses. http://archives.cnn.com/2000/ALLPOLITICS/stories/05/01/clinton.debt

When Clinton was in the White House, the economy generated 17.6 million jobs during the corresponding period — from January 1993 to December 1998. Under Reagan, 9.5 million jobs were created from January 1981 to December 1986. http://www.foxnews.com/story/0,2933,242424,00.html


We have seen this movie before, in fact it's getting quite old ..we know how this ends.

[noiretextatique]

1. thanks for the reminder

:kick: this will be useful in the near future