HE HAD DEFICITS EVERY YEAR HE WAS IN OFFICE
THE GOVERNMENT BORROWED MONEY FROM ITSELF TO PAY DOWN PUBLIC DEBT
Go ahead. Check for yourself. Look at intergovernmental holdings for every single year Clinton was office. It went up every year because he was borrowing money from the Government to pay down PUBLIC DEBT which is not the same thing as NATIONAL DEBT
Recession Puts a Major Strain On Social Security Trust Fund
Have a nice dayThe Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations. If it is no longer able to do so, it could be forced to borrow an additional $700 billion over the next decade from China, Japan and other investors. And at some point, perhaps as early as 2017, according to the CBO, the Treasury would have to start repaying the billions it has borrowed from the trust fund over the past 25 years, driving the nation further into debt or forcing Congress to raise taxes.
The Financial Meltdown can directly be laid at the feet of Democrats, who along with their allies like James Johnson who led Fannie Mae, used their lobbying power in WA to get special rates on Government Subsidies for "affordable housing". The GSE's were able to convince investors that their money was insured by the Federal Government. As a result, they were able to buy up 70% of all the toxic loans. Private loan companies were able to make risk free loans for this exact reason. They just sold them to the GSEs who were eager to add the loans to their expanding portfolios.
Revenue to the Treasury increased significantly after the Bush Tax Cuts. Economic Growth was strong. Unemployment was below 5%.
Fannie Mae caught cooking the books
Fannie, Freddie and the FHEO Cooking the Books Pt. 2 - YouTube
Democrats blocking any reform of the GSEs in committee and calling anyone who criticized Franklin Raines a racist
The Financial Crisis: Lets Go to the Video Tape... - YouTube
Government Regulation is what relaxed lending standards. The regulators became corrupted.
Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Created the Worst Financial Crisis of Our Time: Gretchen Morgenson, Joshua Rosner: 9781250008794: Amazon.com: Books
The koolaid man. The koolaid.
Have a nice day comrade