
Mike_Hunt
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Report KNLA Seizes Over Six Million Meth Pills Bound for Thailand
Mike_Hunt replied to snoop1130's topic in Chiang Mai News
Did the Karen's ask to speak to the manager? -
No, Bill Clinton Didn’t Balance the Budget Many in the media have flubbed this story. The New York Times on October 1st said, “Clinton balances the budget.” Others have praised George Bush. Political analyst Bill Schneider declared on CNN that Bush is one of “the real heroes” for his willingness to raise taxes — and never mind read my lips. (Once upon a time, lying was something that was considered wrong in Washington, but under the last two presidents our standards have dropped.) In any case, crediting George Bush for the end of the deficit requires some nifty logical somersaults, since the deficit hit its Mount Everest peak of $290 billion in St. George’s last year in office. And 1993 — the year of the giant Clinton tax hike — was not the turning point in the deficit wars, either. In fact, in 1995, two years after that tax hike, the budget baseline submitted by the president’s own Office of Management and Budget and the nonpartisan Congressional Budget Office predicted $200 billion deficits for as far as the eye could see. The figure shows the Clinton deficit baseline. What changed this bleak outlook? Newt Gingrich and company — for all their faults — have received virtually no credit for balancing the budget. Yet today’s surplus is, in part, a byproduct of the GOP’s single-minded crusade to end 30 years of red ink. Arguably, Gingrich’s finest hour as Speaker came in March 1995 when he rallied the entire Republican House caucus behind the idea of eliminating the deficit within seven years. https://www.cato.org/commentary/no-bill-clinton-didnt-balance-budget
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The OP is correct.
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Why do you post these lies? List of budget surpluses since WW2 1947-1949: The first post-war period of surpluses, lasting three years. Truman (D) 1956: A single year of surplus amidst a period of deficits. Eisenhower (R) 1957: Another surplus year, following the 1956 surplus. Eisenhower (R) 1960: A surplus year during the Eisenhower administration. Kennedy (D) 1969: The last surplus year until the 1990s, marking a significant gap. Nixon (R) 1998-2001: A period of eight consecutive years of surpluses, ending in 2001. Clinton (D)
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You are correct.
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Bill Clinton played a significant role in deregulating the U.S. banking system. In 1999, he signed the Gramm-Leach-Bliley Act, which repealed key provisions of the Glass-Steagall Act, allowing commercial banks to engage in investment activities previously restricted to investment banks, and vice versa.24 This move was supported by Clinton's advisers, who argued that the separation between banking and other financial services mandated by Glass-Steagall was outdated in a globalized financial environment.2 The repeal of Glass-Steagall and subsequent deregulation measures led to a significant consolidation in the banking industry. By 2016, 57 percent of U.S. banks had disappeared, reducing the number of FDIC-insured commercial banks from 14,146 in 1934 to 6,172, with the largest banks becoming even larger and more dominant.