On Thursday the White House published the chart below that explains how the nation got from the Clinton-era budget surplus and the projection that it would eventually pay off the U.S. national debt to the $14 trillion debacle we’re facing only a decade later.
(Click on the image for a slightly more legible version.)
- Distinguish between deficit budget and surplus budget (wiki.answers.com)
- Virginia’s Budget Surplus: Fiscal Success Story, Or Fiscal Fraud? (outsidethebeltway.com)
- President Obama Doesn’t Understand the Origins of the Deficit (delong.typepad.com)
- Global Concern Over U.S. Debt Ceiling Disagreement – NYTimes.com (policyabcs.wordpress.com)
- Repugs Big Lie: Balanced Budget (chazzw.wordpress.com)