jim wrote:

Garlicdude wrote:
Allen Drake wrote:

"A republican President has never , never left the office with a
blanced Budget or a surplus.... Never "

In the red and black terms of fiscal policy, it was a
dramatic occasion. After a paring arid scraping, President
Eisenhower had almost in hand, to present to the 86th
Congress next month, a balanced budget with about $77
billion incoming against about $77 billion outgoing.

That effort to balance the budget didn't last long.

It created a recession and in response to the recession the
last two years of the Eisenhower administration the federal
govt spent 20% more than it collected in revenues.

Federal debt from 1954-1961
http://tinyurl.com/3nfas8o


True enough, I was 10 or so when that recession started. It
was when Detroit started making smaller cars, Valiants,
Darts, Falcons, Corvair all started around that time.

--


Regards,
Steve Saling
aka The Garlic Dude ©
Gilroy, CA
The Garlic Capital of The World

http://tinyurl.com/2avg58