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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIf the Clinton tax rates had remained in effect, the entire national debt would have been paid off
http://rationallythinkingoutloud.com/blog/2011/01/20/if-the-clinton-tax-rates-had-remained-in-effect-the-entire-national-debt-would-have-been-paid-off-by-2012/The facts speak for themselves.
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If the Clinton tax rates had remained in effect, the entire national debt would have been paid off (Original Post)
DonCoquixote
May 2013
OP
dkf
(37,305 posts)1. Now the Bushies convinced Democrats we had to keep it. So sad.
Sherman A1
(38,958 posts)2. +1
K&R
rurallib
(62,423 posts)3. Most people forget that a commission was put together to study what to do
if the country had no debt. Oddly enough, this would create major problems.
But W had the foresight to stop such problems dead in their tracks. He was a great president, no?
(sarcasm for the humor impaired. About Bush - the rest is true)
Recursion
(56,582 posts)4. Well, paying off the entire debt would destroy the world economy
So we probably wouldn't have actually done that.
ProSense
(116,464 posts)5. John Kerry Serves Up a Reality Check (January 2011)
John Kerry Serves Up a Reality Check
By karoli
John Kerry gave a speech last week at the Center for American Progress that should become the marching song for every liberal in this country. He was clear: The last 10 years have cost us too much, and if the hyper-partisan tone doesn't change to one of true concern for the direction of this country, we will cede any chance to lead to others.
He hits it all: Infrastructure, energy, debt, climate change. Every point. The one that hit home for me was when he talked about where we might have been, had Bush and the Republicans not unwound progress made during the Clinton administration.
Here's an example. We talk about how the Clinton tax rates generated a surplus, but we stop there. We don't talk about the fact that if the Clinton tax rates had remained in effect, the entire national debt would have been paid off by 2012. Imagine what a difference that would have made in today's dialogue. And more importantly, why aren't we hammering this home every single time one of those self-righteous Republican buffoons stands up and talks about how our national debt is killing the country?
Kerry points out that we would be at a point where our financial position would be at it's strongest point ever. What would that have meant when (or if) the bottom fell out of the economy? Most assuredly, we wouldn't have to be speaking of debt retirement and austerity.
- more -
http://crooksandliars.com/karoli/john-kerry-serves-reality-check
By karoli
John Kerry gave a speech last week at the Center for American Progress that should become the marching song for every liberal in this country. He was clear: The last 10 years have cost us too much, and if the hyper-partisan tone doesn't change to one of true concern for the direction of this country, we will cede any chance to lead to others.
He hits it all: Infrastructure, energy, debt, climate change. Every point. The one that hit home for me was when he talked about where we might have been, had Bush and the Republicans not unwound progress made during the Clinton administration.
Here's an example. We talk about how the Clinton tax rates generated a surplus, but we stop there. We don't talk about the fact that if the Clinton tax rates had remained in effect, the entire national debt would have been paid off by 2012. Imagine what a difference that would have made in today's dialogue. And more importantly, why aren't we hammering this home every single time one of those self-righteous Republican buffoons stands up and talks about how our national debt is killing the country?
Kerry points out that we would be at a point where our financial position would be at it's strongest point ever. What would that have meant when (or if) the bottom fell out of the economy? Most assuredly, we wouldn't have to be speaking of debt retirement and austerity.
- more -
http://crooksandliars.com/karoli/john-kerry-serves-reality-check
As a Senator, Kerry voted against both Bush tax cuts and the bankruptcy bill.
Octafish
(55,745 posts)6. Now is not the time to look back, but to look ahead.
To austerity.
Thanks, DonCo-Q. Outstanding info, there.
bemildred
(90,061 posts)7. The last thing the conservatives want is a solvent national government.
Every time they get control that is the first thing they do: run the deficit way up, and then start whinging about it.
kudzu22
(1,273 posts)8. You're assuming anyone wants to pay off the debt
In my experience, when the debt gets too low, they borrow more.