Top Deficits, Top Surpluses, and Political Party Majority Responsible

Biggest Deficits and Biggest Suprluses, both in $ (Z1) and in % (Z2)

{Click on picture to enlarge}

DEMOCRATS are majority responsible for the TOP 6 BIGGEST $ DEFICITS, and 7 of the top 10.
(Top 6: FY2008-2013, and #10: FY 1992)

And DEMOCRATS are majority responsible for the TOP 9 BIGGEST DEFICITS as a % of GDP.
Five (#1- #4, & #9) were WWII-related, and Four (#5-#8) were 2009-2012.

While on the other hand…

REPUBLICANS are majority responsible for the TOP 5 BIGGEST $ SURPLUSES.
(FY 2000, 2001, 1999, 1998, and 1948)

And REPUBLICANS are majority responsible for the TOP 2 BIGGEST SURPLUSES, and 6 of the TOP 10 SURPLUSES, as a % of GDP.
(FY 1948, 2000, 1999, 2001, 1930, and 1998)

Data Sources:

1) Budget numbers directly from the White House Office of Management and Budget (in $)
Table 1.1—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–): 1789–2017
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

2) Budget numbers directly from the White House Office of Management and Budget (in % of GDP)
Table 1.2—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–) AS PERCENTAGES OF GDP: 1930–2017
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z2.xls

3) For any given session of Congress, look at which party controlled the House of Representatives, the Senate, and the Presidency, and then give the majority of the credit or blame to the party which controlled a majority (2+ out of 3) of the House, Senate, and Presidency at the time that budgets and appropriations bills were passed. For example, for the 110th, 111th, and 112th Congresses, look at…

http://en.wikipedia.org/wiki/110th_United_States_Congress
http://en.wikipedia.org/wiki/111th_United_States_Congress
http://en.wikipedia.org/wiki/112th_United_States_Congress

… see that Democrats had majority control (and deserve the majority of the blame) for Fiscal Years 2008 – present because:

1) Democrats held majority control of both the House and Senate when the FY 2008 budget was passed in 2007.

2) Democrats held the House, Senate, and Presidency when the FY 2009 budget was finally, belatedly signed by Barack Hussein Obama on March 11, 2009.

3) Democrats held the House, Senate, and Presidency during all of FY 2010 and are responsible for all FY 2010 deficit spending even though they failed to pass a budget.

4) Democrats held the House, Senate, and Presidency during the first three months of FY 2011, held the Senate and Presidency during the last 9 months of FY 2011, and are majority responsible for all FY 2011 deficit spending even though they failed to pass a budget.

5) Democrats held the Senate and Presidency during all of FY 2012 and are majority responsible for all FY 2012 deficit spending even though they failed to pass a budget.

6) Democrats will hold the Senate and Presidency during all of FY 2013 and 2014 and will be majority responsible for all FY 2013 and 2014 deficit spending even if they fail to pass a budget.

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6 Responses to Top Deficits, Top Surpluses, and Political Party Majority Responsible

  1. kj says:

    I glad to see that you are still around and blogging. Keep up the good work.

  2. Thanks, KJ, I appreciate your positive feedback. Good to “see” you!

  3. Glad to hear from you too!
    John

  4. FY 2013 Revenues: $2.708 Trillion (as projected by the CBO)

    FY 2007 Outlays: $2.729 Trillion (as reported by the OMB)

    If FY 2013 Outlays had been capped to FY 2007 dollar levels (the last budget passed by a Republican House, Republican Senate, and Republican President), and if the CBO Revenue projections for FY 2013 are correct, then the deficit in FY 2013 would have only been $21 Billion.

    $2.708T Revenue
    – $2.729T Spending
    ——————–
    = -$0.021T (Deficit of only $0.021 Trillion, or $21 Billion)

    We don’t have a revenue problem.
    We have a spending problem.

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