FED CHAIRMAN POWELL URGES CONGRESS TO ADDRESS FEDERAL BUDGET’S “UNSUSTAINABLE PATH"

[evince]

The Omnibus Budget Reconciliation Act of 1993 (or OBRA-93) was a federal law that was enacted by the 103rd United States Congress and signed into law by President Bill Clinton. It has also been unofficially referred to as the Deficit Reduction Act of 1993. Part XIII of the law is also called the Revenue Reconciliation Act of 1993.
The bill stemmed from a budget proposal made by Clinton in February 1993; he sought a mix of tax increases and spending reductions that would cut the deficit in half by 1997. Though every congressional Republican voted against the bill, it passed by narrow margins in both the House of Representatives and the Senate. The act increased the top federal income tax rate from 31% to 39.6% , increased the corporate income tax rate, raised fuel taxes, and raised various other taxes. The bill also included $255 billion in spending cuts over a five-year period. The effects of the bill helped the US federal government to experience in 1998 its first budget surplus since the 1960s.

[countryboy]

you don't know this history?


and here you are claiming to be some expert on the issue?


REALLY?

So you have nothing, got it.

And quit being a coward, and quote me so I know when you've responded to one of my posts.

[evince]

every congressional Republican voted against the bill

[evince]

The effects of the bill helped the US federal government to experience in 1998 its first budget surplus since the 1960s.

[evince]

So you have nothing, got it.

And quit being a coward, and quote me so I know when you've responded to one of my posts.

bite a dead mules cock you uniformed ass juice boy

[evince]

https://en.wikipedia.org/wiki/Omnibu...on_Act_of_1993

The Omnibus Budget Reconciliation Act of 1993 (or OBRA-93) was a federal law that was enacted by the 103rd United States Congress and signed into law by President Bill Clinton. It has also been unofficially referred to as the Deficit Reduction Act of 1993. Part XIII of the law is also called the Revenue Reconciliation Act of 1993.
The bill stemmed from a budget proposal made by Clinton in February 1993; he sought a mix of tax increases and spending reductions that would cut the deficit in half by 1997. Though every congressional Republican voted against the bill, it passed by narrow margins in both the House of Representatives and the Senate. The act increased the top federal income tax rate from 31% to 39.6% , increased the corporate income tax rate, raised fuel taxes, and raised various other taxes. The bill also included $255 billion in spending cuts over a five-year period. The effects of the bill helped the US federal government to experience in 1998 its first budget surplus since the 1960s.

[cawacko]

Let's see your source for the bullshit about Bubba. Have you forgotten your Lord and Savior spent more than all previous president's combined? Did those unfunded liabilities magically go away when Trump was elected? Stop being a retard.

$1.4 trillion was added to the National Debt during the Clinton years yet that is somehow a reduction in the National Debt? Again, adding $1.4 trillion to the debt is a reduction of the debt? Is this what Common Core math teaches people?

[Truth Detector]

FED CHAIRMAN POWELL URGES CONGRESS TO ADDRESS FEDERAL BUDGET’S “UNSUSTAINABLE PATH"

Were you concerned about deficits during Obamunism? I can't find any threads from you lambasting Obama for his record setting deficit and debt Presidency.

Have you written the assclowns running the clown show in the House demanding that they get off their asses and do something about it? Of course you haven't.

Your whiny, hypocritical, lie filled bullshit falls on deaf ears.

[Truth Detector]

Get rid of what actually caused it to get worse: Trump's tax cuts for the rich scheme.

Revenue has been going up you clueless twat. WTF is wrong with you morons? You can't do some basic research before you emotionally erupt with this stupidity?

We don't have a revenue problem. We have a SPENDING problem. Yet, you and all the other whiny asshats on the left support a candidate promising to bury us in an additional $50 trillion.

[Truth Detector]

Powell's not wrong. No way government should be spending this much money at this point in the economic cycle (or at any time really). This whole thing is a house of cards but there is no adulting in D.C. (largely because voters don't demand it).

Write your Democratic Party of the Jackass candidate and demand they do something than bring us clown shows.

[Truth Detector]

Lying again eh? Federal revenues are up, its the spending stupid.

[countryboy]

The Omnibus Budget Reconciliation Act of 1993 (or OBRA-93) was a federal law that was enacted by the 103rd United States Congress and signed into law by President Bill Clinton. It has also been unofficially referred to as the Deficit Reduction Act of 1993. Part XIII of the law is also called the Revenue Reconciliation Act of 1993.
The bill stemmed from a budget proposal made by Clinton in February 1993; he sought a mix of tax increases and spending reductions that would cut the deficit in half by 1997. Though every congressional Republican voted against the bill, it passed by narrow margins in both the House of Representatives and the Senate. The act increased the top federal income tax rate from 31% to 39.6% , increased the corporate income tax rate, raised fuel taxes, and raised various other taxes. The bill also included $255 billion in spending cuts over a five-year period. The effects of the bill helped the US federal government to experience in 1998 its first budget surplus since the 1960s.

The Clinton "budget surplus" is a myth. And just because Dims passed this legislation, doesn't mean it is responsible for the deficit reduction. Correlation is not causation. There were many other factors, including a Republican Congress, who forced Bubba do act in fiscally responsible ways.

http://mpalumbo.liberty.me/the-clint...ounting-trick/

[Truth Detector]

Everyone KNOWS that deficits only matter when DEMOCRATS are in the WH.

Ironic coming from a partisan hack that defended the massive record deficit spending during Obamunsim.

You are the definition of hypocrite and stupid.

When REPS are in they CUT TAXES and go to war or decry the condition of the military and SPEND WHATS LEFT on it.

The tax cuts didn't reduce revenue you clueless hack. But I am amused that leftist dullards think our earnings belong to the Government.

Every major war we have ever engaged in was started with Democrats in charge. WWI, WWII, Korea, Vietnam.

[countryboy]

$1.4 trillion was added to the National Debt during the Clinton years yet that is somehow a reduction in the National Debt? Again, adding $1.4 trillion to the debt is a reduction of the debt? Is this what Common Core math teaches people?

The "Clinton surplus" was nothing more than an accounting trick, yet libs to this day ignore that.

http://mpalumbo.liberty.me/the-clint...ounting-trick/

[Truth Detector]

Well fucking duh is right. You made the claim this was somehow the fault of the Trump tax cuts, then you admit it's not. You are very confused.

He's just very stupid.