Hmmm...
So if LIV looks at the charts, especially the first, it looks like the Clinton administration did a great job.
Wrong.
RR had it correct, Bush 2 screwed it up.
The big thing was beyond any president.
1995 through 2004 was the explosion of the internet. Clinton benefited.
So. We have some graphs of ‘budgets’. Are these budgets in the same sense as the one I have for my ‘economy’?
For instance, if I tap a signature credit line and buy some swamp land in Florida at inflated prices, say like the Fed does with its 4+years of $85 Billion in QE to buy T-bills and MBEs on the market, I can use those inflated land values as assets for my budget, right? Hell, since it was a signature credit line, I don’t even have to count that ‘loan’ as an outstanding debt, do I? I can just let it sit there - all I’ll have to do is pay the low interest, right?
The fact is, the Fed spent over $4 Trillion Dollars it did not have this way for over 4 years ($85B/month - do the math). In fact, if you recall here from a couple of days ago, there was a thread on the Fed all happy about having $4+ Trillion in assets - go figure, that’s the same as the crap they bought with money it did not have. So who cares? Nobody is gonna audit them, but themselves. Just like me and my credit line...AND, I have all that valuable land down there in Florida.
Budget? I didn’t know we had one. I was under the impression that our government just spent money willy-nilly, as though they could just print more. Oh wait...
never mind.
My favorite CBO fantasy is that sequestration will happen.
Just like this congress, every future congress will override it.
And CBO knows they will. But these are their employers and you gotta say what the boss wants you to...