Evidence of a Balanced Budget | Letters | Salt Lake City | Salt Lake City Weekly

Evidence of a Balanced Budget 

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Recently, while we were discussing politics, a friend said, “Don’t words mean anything to you?” It made me think—what makes words valuable? I considered the words politicians use. Some are just words, no more, conveying only bad breath. To me, facts make words more than just words, increasing their value to evidence—evidence to support a belief or a course of action. More than just words.

Words like, “We are the party of balanced budget.” The U.S. Treasury, at TreasuryDirect.com, lists deficits from 1940 to 2009. They show that Republican presidents are responsible for 68 percent, or $8.4 trillion, of the debt over 36 years. Democrat presidents are responsible for 31 percent, or $3.91 trillion, of the debt over 33 years. The last time we reduced the debt was in 1957. In 2000, with President Bill Clinton, we only borrowed $18 billion. In 2008, with President George W. Bush, we borrowed $1.6 trillion. In 2009, with President Barack Obama, we borrowed $1.7 trillion.

Clearly, supply-side economics “works.” The gross domestic product at BEA.gov lists GDP from 1940, showing that Republican presidents have had an average yearly increase of 6.6 percent, or 6.2 percent since 1977, with President Jimmy Carter. Democratic presidents have had an average yearly increase of 8.5 percent, or 6.8 percent since 1977.

The Dow Jones averages, at DowJones.

com, show that since 1940, Republican presidents have an average yearly increase of 6.6 percent, or 6.2 percent since 1977. Democratic presidents have an average yearly increase of 9.2 percent, or 12.5 percent since 1977.

The IRS, at IRS.gov, lists the adjusted gross income and taxes paid by all taxpayers from 1986 to 2007. They show that the AGI of the top 1 percent has doubled from 11 percent of all income made to 22 percent in the last 21 years. They paid 25 percent of taxes in 1986 and 40 percent of taxes in 2007. They also show that the lower 95 percent has lost income percentage and therefore pays a lower share of taxes as well. As 95 percent of the population loses income, it purchases less and gives less support to the 72 percent of our economy, which is based on consumer spending.

Are your beliefs words and facts that indicate evidence, or are they just bad breath?

Eric Wilson
Salt Lake City

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