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YOUR BALANCE
Say what you want about Clinton, Obama, and Biden...
General Boards - Politics
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Replies: 18
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Say what you want about Clinton, Obama, and Biden...

5

Apr 10, 2025, 6:59 AM
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Each inherited an economy in crisis from a Republican predecessor—and left it stronger than they found it.
Then, like clockwork, another Republican returned and ran it off the rails.

Just facts.

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Re: Say what you want about Clinton, Obama, and Biden...


Apr 10, 2025, 7:27 AM
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Both BHO and Biden got economies that were devastated, one by shady loans compounded by financial instruments nobody could explain in a paragraph. The other by a pandemic that caused havoc across the world economically.

To assign acclaim for the rebounds is silly as both had nowhere to go but up.

Clinton may be an outlier but he did have to move with Pubs as they helped move him to a more center position.

Trump is chaos like a tornado tearing stuff up. My issue is one is unable to make business/financial decisions knowing he may turn at any moment wrecking your house.

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Newt not bill.***


Apr 10, 2025, 7:30 AM
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Re: Newt not bill.***


Apr 10, 2025, 7:37 AM
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Yes, people forget the role Pubs played during Clinton’s time. Either forget or will not admit.

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The economy is historically stronger under Democrat administrations. Doesnt

1

Apr 10, 2025, 7:55 AM
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mean I agree with everything Dems have done over the last 100 years, but financial history is in their favor.

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Its hard to ignore the data over the last 35 years.


Apr 10, 2025, 8:00 AM
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Prior to that, my go to premise was that Pubs were better for the economy and long term business interests.

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I thinks it's a combination of timing on the business cycle...


Apr 10, 2025, 9:12 AM [ in reply to The economy is historically stronger under Democrat administrations. Doesnt ]
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and a bit of riding on the previous admins actions, given how long certain changes take to show an impact in the macro.

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Glad the entire US economy boils down to what letter someone has


Apr 10, 2025, 8:13 AM
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next to their name.

Who controlled Congress during these times? What major legislation was passed during these times that may or may not have immediate impact?

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Let me break it down for you.


Apr 10, 2025, 8:32 AM
Reply

Bill Clinton (1993–2001)
Inherited recession + deficits from Bush Sr.

1993 Budget Act: Raised taxes on the rich, cut spending (ZERO GOP votes) → turned deficits into surpluses

22 million jobs created

Unemployment fell to 4%

Middle-class incomes rose

Left office with a surplus — the last president to do so

Barack Obama (2009–2017)
Inherited Great Recession from George W. Bush

American Recovery Act: Stimulus to rebuild economy (GOP mostly opposed)

Dodd-Frank: Reined in Wall Street, created CFPB

Auto bailout: Saved over 1 million jobs

Affordable Care Act: Lowered deficits, slowed health cost growth

Unemployment fell from 10% to under 5%

75 straight months of private job growth

Cut deficit by more than half

Stock market tripled

Joe Biden (2021–present)
Inherited COVID recession, high inflation, and chaos from Trump

American Rescue Plan: Ended pandemic recession, cut child poverty

Infrastructure Law: Biggest investment in bridges, roads, broadband in decades

Inflation Reduction Act: Cut deficit, lowered drug costs, taxed billion-dollar corps

CHIPS Act: Brought manufacturing back

15+ million jobs created

Lowest unemployment in 50+ years

Inflation dropping, wages up

Deficit fell by $1.7 trillion in one year

Bottom line:
Every one of these Democratic presidents inherited a mess from a Republican, and used Democratic policies to clean it up.
Republicans fought the recovery, then tried to take credit once it worked.

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Now what are the Republicans doing?

1

Apr 10, 2025, 8:53 AM
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Besides, the mickey-mouse tariff monkeying around but orange man-

Congressional republicans are trying to cut more that two trillion from SS and Medicaid. This is to help cut the deficit, right? LOL, no. They are trying to provide a 7 trillion tax cut for the very wealthy.

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Re: Now what are the Republicans doing?


Apr 10, 2025, 3:49 PM
Reply

What have they done,

Cut cancer research funding for children
Rescinded Biden Executive order limiting overdraft fees to 5$
Rescinded Biden Executive order which gave Medicare the ability to negotiate drug prices for seniors.
in the process Cutting Medicaid by 20%, this will kill 10 of thousands of people a year
Diverted Billions of gallons of Northern California's water reserves into the ocean
Insider trading
soliciting minors for sex online
I am sure there is more

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Cherry picking data...


Apr 10, 2025, 10:14 AM [ in reply to Let me break it down for you. ]
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You're just as bad as the MAGA crowd.

You note that Clinton left office with a surplus. Who controlled Congress when he left? Who controlled when he started? Different parties.

Obama inherited Bush's recession? What legislation caused that recession. Who passed that?

So Biden inherited inflation? Inflation was pretty steady at 1.4% when Biden took office. Amazingly inflation took off right after Biden signed the $1.9 Trillion "American Rescue Plan."

I'd argue that the last stimulus that Trump passed and all the stimulus packages Biden passed caused inflation and were not needed.

My point remains the same that you can't simply look at who was in the WH and assign it accordingly when there are so many other factors.

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Re: Cherry picking data...


Apr 10, 2025, 1:13 PM
Reply

Respectfully, you're missing key context here and a few facts:

1.Clinton and the GOP Congress:
Yes, Republicans took Congress in 1994. But the key deficit-reduction bill that led to the surplus is the 1993 Budget Act passed before that, with ZERO Republican votes.
That bill raised taxes on the wealthiest Americans and cut spending. It’s widely credited for kickstarting the deficit reduction that led to surpluses. The GOP opposed it at the time and predicted economic doom. They were wrong.

2. Obama and the Great Recession:
The Great Recession was driven by Wall Street deregulation, reckless lending, and housing speculation not legislation passed by Obama (who wasn’t even president yet).
The collapse began in 2007–2008 under Bush’s watch. You’re asking “who passed the legislation,” but in reality,it was the lack of regulation, especially from the Bush-era SEC that let banks run wild. There is a great movie called The Big Short. You should watch it.

Obama’s stimulus and auto bailout stopped the bleeding and turned the economy around.

3. Biden and Inflation:
Inflation was low at the moment Biden took office, yes, but he inherited a broken global supply chain, pent-up demand from COVID, and a fragile labor market.
Did the American Rescue Plan play a role in inflation? Sure, but so did Trump’s $3.1 trillion in COVID relief packages (CARES Act, etc.). Let’s not pretend this was a one-party issue.

And guess what? Biden’s plan also cut child poverty in half, led to the strongest job growth in history, and helped the U.S. recover faster than any other advanced economy.
Now, inflation has dropped, unemployment is at 50-year lows, and wages are rising.

You’re right that you can’t always assign credit or blame only based on the White House. But it’s also dishonest to ignore that Democrats consistently propose and pass the economic policies that clean up after Republican messes even when the GOP fights them every step of the way, then later tries to take credit for the results.


Message was edited by: PACIFIC BEACH TIGER®


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Didn't Clinton have a balanced budget as well? Or am I making that up?***


Apr 10, 2025, 8:34 AM
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No, you 're exactly right, Not all of it was good though.

1

Apr 10, 2025, 8:49 AM
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Clinton did play a role in the crash of 2008 but he wasn’t the sole or even the main cause. Several of his administration’s deregulatory decisions, especially repealing Glass-Steagall in 1999 but contributed to the conditions that helped enable the 2008 crash. However, the real crisis took off under Bush-era policies, regulatory failure, and Wall Street excess.

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Thanks. I remember my vote for Clinton in '96 coming down to that simple

1

Apr 10, 2025, 9:00 AM
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question - Is the country better off now than it was 4 years ago?

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He was pulled to a balanced budget kicking and screaming the whole way...


Apr 10, 2025, 9:10 AM [ in reply to Didn't Clinton have a balanced budget as well? Or am I making that up?*** ]
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after the GOP revolution in 1994. I remember ads run by the dem party showing starving school children and old people living in the streets illustrating what would happen if the budget was balanced.Then he claimed the win. Clinton was nothing if not an incredible politician.

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Nothing wrong with balance....


Apr 10, 2025, 10:49 AM
Reply

...what we have now is a massively corrupt toddler in the WH.

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Re: He was pulled to a balanced budget kicking and screaming the whole way...


Apr 10, 2025, 1:31 PM [ in reply to He was pulled to a balanced budget kicking and screaming the whole way... ]
Reply

You are remembering incorrectly. Neither party cared that much about deficits until Ross Perot. Clinton and Democratic control of the Congress did start the path to a balanced budget by raising taxes and starting to reduce spending. Clinton and Gore were the public faces of reducing the size of government. Gingrich never, ever came out of a meeting with Clinton where he got his way. He went in with a set of policy goals and came out of each meeting with a big smile on his face and complete capitulation. Then Bush and GOP control of the Congress in 2001 undid all of the fiscal discipline and more than zeroed out the surplus with so-called "stimulus checks," because, if you recall, "if we are running a surplus, it means we are taxing people too much." There have been two pay freezes applied to most government workers and contractors to save money over the last 35 years. Guess which two presidents implemented those two pay freezes.

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Replies: 18
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