Record Deficit Projected for 2009
August 6, 2008 by Norbert Haupt
The deficit projected for 2009 is $482 billion. This is the largest deficit in history. Lined up for us by the Bush administration.
This prompted me to look back at the record since 1960.
|
Year
|
Deficit/Surplus |
Cumulative
|
Administration
|
|
1960
|
301
|
301
|
Kennedy
|
|
1961
|
-3,335
|
-3,034
|
Kennedy
|
|
1962
|
-7,146
|
-10,180
|
Kennedy
|
|
1963
|
-4,756
|
-14,936
|
Kennedy
|
|
1964
|
-5,915
|
-20,851
|
Johnson
|
|
1965
|
-1,411
|
-22,262
|
Johnson
|
|
1966
|
-3,698
|
-25,960
|
Johnson
|
|
1967
|
-8,643
|
-34,603
|
Johnson
|
|
1968
|
-25,161
|
-59,764
|
Johnson
|
|
1969
|
3,242
|
-56,522
|
Nixon
|
|
1970
|
-2,842
|
-59,364
|
Nixon
|
|
1971
|
-23,033
|
-82,397
|
Nixon
|
|
1972
|
-23,373
|
-105,770
|
Nixon
|
|
1973
|
-14,908
|
-120,678
|
Nixon
|
|
1974
|
-6,135
|
-126,813
|
Ford
|
|
1975
|
-53,242
|
-180,055
|
Ford
|
|
1976
|
-73,732
|
-253,787
|
Ford
|
|
1977
|
-53,659
|
-307,446
|
Carter
|
|
1978
|
-59,185
|
-366,631
|
Carter
|
|
1979
|
-40,726
|
-407,357
|
Carter
|
|
1980
|
-73,830
|
-481,187
|
Carter
|
|
1981
|
-78,968
|
-560,155
|
Reagan
|
|
1982
|
-127,977
|
-688,132
|
Reagan
|
|
1983
|
-207,802
|
-895,934
|
Reagan
|
|
1984
|
-185,367
|
-1,081,301
|
Reagan
|
|
1985
|
-212,308
|
-1,293,609
|
Reagan
|
|
1986
|
-221,215
|
-1,514,824
|
Reagan
|
|
1987
|
-149,728
|
-1,664,552
|
Reagan
|
|
1988
|
-155,152
|
-1,819,704
|
Reagan
|
|
1989
|
-152,456
|
-1,972,160
|
Bush Sr.
|
|
1990
|
-221,195
|
-2,193,355
|
Bush Sr.
|
|
1991
|
-269,328
|
-2,462,683
|
Bush Sr.
|
|
1992
|
-290,376
|
-2,753,059
|
Bush Sr.
|
|
1993
|
-255,087
|
-3,008,146
|
Clinton
|
|
1994
|
-203,250
|
-3,211,396
|
Clinton
|
|
1995
|
-163,972
|
-3,375,368
|
Clinton
|
|
1996
|
-107,473
|
-3,482,841
|
Clinton
|
|
1997
|
-21,958
|
-3,504,799
|
Clinton
|
|
1998
|
69,213
|
-3,435,586
|
Clinton
|
|
1999
|
125,563
|
-3,310,023
|
Clinton
|
|
2000
|
236,445
|
-3,073,578
|
Clinton
|
|
2001
|
127,424
|
-2,946,154
|
Bush
|
|
2002
|
-157,797
|
-3,103,951
|
Bush
|
|
2003
|
-377,585
|
-3,481,536
|
Bush
|
|
2004
|
-412,727
|
-3,894,263
|
Bush
|
|
2005
|
-318,346
|
-4,212,609
|
Bush
|
|
2006
|
-248,181
|
-4,460,790
|
Bush
|
|
2007
|
-162,002
|
-4,622,792
|
Bush
|
|
2008
|
-410,047
|
-5,032,839
|
Bush
|
|
2009
|
-482,000
|
-5,514,839
|
Projected
|
Note that the cumulative is just my adding the deficits per year. There is no interest included. The actual national debt approaches $9 trillion now.
When you look at these numbers, it looks to me like the Democrats keep digging out of the hole, and just when they are about recovered digging out, the Republicans take over and create a new hole.
Check out 2000. Clinton had built up a good head of steam, with record surpluses. Bush came in, and in his first year of course he inherited the surplus. But for good measure, he cut it in half and then eliminated it completely.
Coincidence? Poor Bush — terrorists came and messed things up? I don’t believe it for a minute.
Republican scare tactics are having us believe that a nation can’t tax itself to prosperity. I agree with that. Just like you can’t borrow yourself to riches.
But you also can’t spend yourself into prosperity, if the money is being shipped to OPEC countries, China, India, Russia … and Halliburton.
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Record Deficit Projected for 2009
August 6, 2008 by Norbert Haupt
The deficit projected for 2009 is $482 billion. This is the largest deficit in history. Lined up for us by the Bush administration.
This prompted me to look back at the record since 1960.
Year
Cumulative
Administration
1960
301
301
Kennedy
1961
-3,335
-3,034
Kennedy
1962
-7,146
-10,180
Kennedy
1963
-4,756
-14,936
Kennedy
1964
-5,915
-20,851
Johnson
1965
-1,411
-22,262
Johnson
1966
-3,698
-25,960
Johnson
1967
-8,643
-34,603
Johnson
1968
-25,161
-59,764
Johnson
1969
3,242
-56,522
Nixon
1970
-2,842
-59,364
Nixon
1971
-23,033
-82,397
Nixon
1972
-23,373
-105,770
Nixon
1973
-14,908
-120,678
Nixon
1974
-6,135
-126,813
Ford
1975
-53,242
-180,055
Ford
1976
-73,732
-253,787
Ford
1977
-53,659
-307,446
Carter
1978
-59,185
-366,631
Carter
1979
-40,726
-407,357
Carter
1980
-73,830
-481,187
Carter
1981
-78,968
-560,155
Reagan
1982
-127,977
-688,132
Reagan
1983
-207,802
-895,934
Reagan
1984
-185,367
-1,081,301
Reagan
1985
-212,308
-1,293,609
Reagan
1986
-221,215
-1,514,824
Reagan
1987
-149,728
-1,664,552
Reagan
1988
-155,152
-1,819,704
Reagan
1989
-152,456
-1,972,160
Bush Sr.
1990
-221,195
-2,193,355
Bush Sr.
1991
-269,328
-2,462,683
Bush Sr.
1992
-290,376
-2,753,059
Bush Sr.
1993
-255,087
-3,008,146
Clinton
1994
-203,250
-3,211,396
Clinton
1995
-163,972
-3,375,368
Clinton
1996
-107,473
-3,482,841
Clinton
1997
-21,958
-3,504,799
Clinton
1998
69,213
-3,435,586
Clinton
1999
125,563
-3,310,023
Clinton
2000
236,445
-3,073,578
Clinton
2001
127,424
-2,946,154
Bush
2002
-157,797
-3,103,951
Bush
2003
-377,585
-3,481,536
Bush
2004
-412,727
-3,894,263
Bush
2005
-318,346
-4,212,609
Bush
2006
-248,181
-4,460,790
Bush
2007
-162,002
-4,622,792
Bush
2008
-410,047
-5,032,839
Bush
2009
-482,000
-5,514,839
Projected
Note that the cumulative is just my adding the deficits per year. There is no interest included. The actual national debt approaches $9 trillion now.
When you look at these numbers, it looks to me like the Democrats keep digging out of the hole, and just when they are about recovered digging out, the Republicans take over and create a new hole.
Check out 2000. Clinton had built up a good head of steam, with record surpluses. Bush came in, and in his first year of course he inherited the surplus. But for good measure, he cut it in half and then eliminated it completely.
Coincidence? Poor Bush — terrorists came and messed things up? I don’t believe it for a minute.
Republican scare tactics are having us believe that a nation can’t tax itself to prosperity. I agree with that. Just like you can’t borrow yourself to riches.
But you also can’t spend yourself into prosperity, if the money is being shipped to OPEC countries, China, India, Russia … and Halliburton.
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