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GOP fiscal responsibility

By: tkc in ALEA | Recommend this post (0)
Sat, 24 Oct 15 8:59 AM | 124 view(s)
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After the expiration of PAYGO, budget deficits returned. The federal surplus shrank from $236.2 billion in 2000 to $128.2 billion in 2001, then a $157.8 billion deficit in 2002—the last year statutory PAYGO was in effect. The deficit increased to $377.6 billion in 2003 and $412.7 billion in 2004.[3] The federal deficit excluding trust funds was $537.3 billion in FY2006.[7] In the first 6 years of President Bush's term, with a Republican controlled Congress, the federal debt increased by $3 trillion.[8][9] The public debt continued to grow after Democrats gained control of Congress on January 3rd, 2007. At the end of the Bush Administration, public debt had nearly doubled from when President Bush took office in January 2001, to January 2009.
(Tkc: copied from wikipedia "PAYGO")


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