Quote:
Originally posted by Spanky
We had slight surpluses in 1960 and 1969. Every other year was deficits. We did not get sustained surpluses until the Repubicans took over. There were plenty of times of growth when the Dems controlled congress and we did not pull out of our deficists.
And if you are going to blame Vietnam, funny that we are in war on terror right now.
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I would point out that most economists would define a balanced budget to include very slight deficits and surpluses, and that a 0.3% deficit or a .5% deficit (which is what you are labeling a "deficit" in the 1960s) is a very different thing than a 3.5% deficit (last years).
While we are noting that military expenses do go up when at war, I would also not that there was certainly a "peace dividend" in the 1990s that contributed to deficit reduction. Forgive me if I am venturing into Captain Obvious territory again!
