As I pointed out before, since 1940 to 2012 we have had seventy-three Fiscal Years on record. In those 73 years we have had only 12 Surpluses; that leaves us with 60 Deficit Fiscal Years.
One of those Presidents that gave this country surplus was Democratic President Harry Truman. I am fascinated by this man’s leadership; but at the same time, as it applies to today, we can’t ignore some historical facts. When Harry Truman stepped into the office as President in 1946, he received a $610.26 Billion Dollars in Deficit. At the time, both the House and the Senate, were Democratic.
In 1947, Truman lost the House and the Senate as they turned Republican. What I want to point out is that, in the midst of it all, a Democratic President and a Republican House and Senate were able to turn things around. From a deficit of $610.26 Billion in 1946, when Truman became President, by 1947 this nation enjoyed a $41.24 Billion Surplus. In 1948 again, with a Democratic President and a Republican House and Senate this nation enjoyed a $112.38 Billion Surplus.
The House and the Senate switched back to being Democratic by the time the next President came to power, Republican Dwight D. Eisenhower. That fiscal year the nation had a $56.03 Billion dollars in deficit. With President Eisenhower, we enjoyed three surpluses; all of these surpluses took place, again, with a Democratic House and Senate.
In 1969, under Republican President Richard Nixon, this nation enjoyed what became the last surplus in twenty-nine years. During that period, the House and the Senate were Democrats.
In 1992 Bill Clinton was elected President. During his first five years deficits continued. However, from 1998 to 2000, we enjoyed a historical three consecutives surpluses. In 2000, with a Republican House and Senate this nation enjoyed the largest surplus in history, $314.78 Billion. During those three years of Surplus the House and Senate were Republicans.
In 2001, under the leadership of President George W. Bush, we enjoyed our last surplus on record, $164.9 Billion; that surplus took place with a Democratic Senate and a Republican House.
When President Obama took office in 2008 the deficit was $488.82 Billion. By the end of his first year the deficit went up to a historical $1509.62 Trillion, with a Democratic House and Senate. In 2010, again, with a Democratic House and Senate, the deficit remained over a Trillion Dollars. In 2010 Americans sent a message to President Obama as they lost the House. In two years we continue to have our deficit over a Trillion dollars; that is four years of over a Trillion dollar deficit…this is historical indeed!
As America re-elected our President, President Obama faces the largest deficit that any President has faced in history. I believe that is now time to stop blaming Bush and move FOWARD! No other President in history has won with such awful numbers. We can’t blame racism folks! That excuse is not going to fly anymore. America has given this President an extraordinary vote of confidence. Now it is time to get to work. The Senate continues to be Democratic and the House remains Republican as we face a Fiscal Cliff. Can we learn something from history? Can you imagine the unlimited possibilities when Republicans and Democrats work together?