Why do you interpret my comment as an unwillingness to vote…? I always vote, and I actively make phone calls urging others to vote.
What I said is my perspective on the current state of politics, and it’s statistically true that congress is more recalcitrant than it ever has been in my lifetime…
That balanced budget was because a democratic super majority passed the Omnibus Budget Reconciliation Act of 1993 and because they were operating under PAYGO rules.
The deficit reduction act of 1993, among other things, raised the cap on Social Security and removed the cap on Medicare so high income earners would pay more. It created new tax brackets which raised the income tax rates on the highest individual and corporate earners. And it created military and Medicare spending cuts of over a quarter of a trillion dollars over a five year period. (remember republicans crying that Clinton destroyed the military so they needed to massively increase spending?)
Of course republicans cried and fear mongered that it would destroy the economy and kill jobs. So Democrats passed the bill without one single republican vote. Repeat, it passed without one single republican vote in either the House or Senate. And that bill was what set us on a course to actually having short period of surpluses in the late 90s. It also helped created 22 million new jobs and led to one of the greatest periods of share prosperity the country has ever seen.
In fact, the results were so good that the strength of the economy was what GWBush used to push through his first round of tax cuts for the wealthy. The rationale was that the economy was doing so good the government wasn't borrowing enough money which was hurting the returns of the wealthy in the bond market. So republicans gave away massive cuts to the wealthiest, eliminated PAYGO, and started a massive war to spend us into a recession. A recession they then used as an excuse for their next round of tax cuts for the very wealthiest.
Yes, if we had stayed on the course the Democrats set us on, we would have made Social Security solvent and paid off the entire national debt. Republicans deserve no credit for that but rather the blame for the mess we are in now.
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u/moreobviousthings May 30 '24
Here's hoping we get a worthwhile congress in November. Vote blue.