eduardo89
05-13-2011, 08:38 AM
"And for four years, we balanced the budget and paid off $405 billion in debt. We've done it before. We can do it again." — Presidential campaign announcement. (http://www.youtube.com/watch?v=xRSz21Vedxc)
"This country has an enormous potential ... to balance the budget as we did for four years when I was speaker."
"We then balanced it (the budget) for four consecutive years." - Fox (http://www.factcheck.org/2011/05/gingrich-no-fan-of-czars/)
THE FACTS: First, the national debt went up, not down, during the four years Gingrich was speaker. In January 1995, when he assumed the leadership position, the gross national debt was $4.8 trillion. When he left four years later, it was $5.6 trillion, an increase of $800 billion.
http://2ndgreenrevolution.com/wp-content/uploads/2010/02/United-States-national-debt.png
As for annual deficits, he did not preside over a four-year period of balanced budgets. In the 1996 and 1997 budget years — the first two budget years he influenced as speaker — the government ran deficits. In 1998 and 1999, the government ran surpluses.
Washington achieved surpluses for two years after that, making for four consecutive years of black ink. But Gingrich only had a hand in the first two.
http://blogs.knoxnews.com/silence/budget-deficit.gif
"As speaker of the House, I worked to reform welfare, to balance the budget, to control spending, to cut taxes, to create economic growth. Unemployment came down from 5.6 percent to under four." — Campaign video. (http://www.youtube.com/watch?v=xRSz21Vedxc)
THE FACTS: When Gingrich became speaker in January 1995, the U.S. unemployment rate was 5.7 percent. When his tenure ended four years later, the rate was 4.3 percent. It didn't decline to 4 percent until a year later, in January 2000.
http://www.econedlink.org/lessons/images_lessons/205_chart11.gif
"If you really are serious about balancing the budget, you can do it. We did it.... Nobody thought we could do it when it started. We did it." — Fox.
_"We undertook welfare reform. We brought in all the governors and we had a tremendous team effort." — Fox. (http://www.foxnews.com/on-air/hannity/transcript/gingrich-comes-out-swinging-against-obama-after-announcing-presidential-bid?page=2)
THE FACTS: The unacknowledged partner in Gingrich's "we" is Clinton, who drove for a welfare overhaul as a defining element of his presidential campaign and claims budget surpluses as part of his legacy, too.
Gingrich's account of fiscal reformation does not mention that he cut a deal with Clinton forcing Republicans to swallow a major new entitlement, the largest expansion of taxpayer-financed health insurance coverage for children since Medicaid began in the 1960s.
At its creation in 1997, SCHIP was the largest expansion of taxpayer-funded health insurance coverage for children in the U.S. since Medicaid began in the 1960s. (http://en.wikipedia.org/wiki/SCHIP)
"I worked with President Ronald Reagan in a very difficult period. We got jobs created again, Americans proud of America, and the Soviet Union disappeared. As speaker of the house, I worked to reform welfare..." — Campaign video. (http://www.youtube.com/watch?v=xRSz21Vedxc)
THE FACTS: Most Republican presidential candidates — and some Democrats — associate themselves with Reagan as much as they can, and Gingrich
certainly served in the House during the Reagan years. But in compressing his biography, Gingrich may have left the impression with those unfamiliar with
presidential history that he was speaker during Reagan's presidency. The only president Gingrich worked with as speaker was Clinton. Gingrich's first Republican leadership position, as minority whip, began when Reagan left office, in 1989.
Newt Gingrich:
16th United States House of Representatives Minority Whip
In office March 20, 1989 – January 3, 1995
58th Speaker of the United States House of Representatives
In office January 4, 1995 – January 3, 1999
Ronald Reagan Presidency: January 20, 1981, to January 20, 1989
"This country has an enormous potential ... to balance the budget as we did for four years when I was speaker."
"We then balanced it (the budget) for four consecutive years." - Fox (http://www.factcheck.org/2011/05/gingrich-no-fan-of-czars/)
THE FACTS: First, the national debt went up, not down, during the four years Gingrich was speaker. In January 1995, when he assumed the leadership position, the gross national debt was $4.8 trillion. When he left four years later, it was $5.6 trillion, an increase of $800 billion.
http://2ndgreenrevolution.com/wp-content/uploads/2010/02/United-States-national-debt.png
As for annual deficits, he did not preside over a four-year period of balanced budgets. In the 1996 and 1997 budget years — the first two budget years he influenced as speaker — the government ran deficits. In 1998 and 1999, the government ran surpluses.
Washington achieved surpluses for two years after that, making for four consecutive years of black ink. But Gingrich only had a hand in the first two.
http://blogs.knoxnews.com/silence/budget-deficit.gif
"As speaker of the House, I worked to reform welfare, to balance the budget, to control spending, to cut taxes, to create economic growth. Unemployment came down from 5.6 percent to under four." — Campaign video. (http://www.youtube.com/watch?v=xRSz21Vedxc)
THE FACTS: When Gingrich became speaker in January 1995, the U.S. unemployment rate was 5.7 percent. When his tenure ended four years later, the rate was 4.3 percent. It didn't decline to 4 percent until a year later, in January 2000.
http://www.econedlink.org/lessons/images_lessons/205_chart11.gif
"If you really are serious about balancing the budget, you can do it. We did it.... Nobody thought we could do it when it started. We did it." — Fox.
_"We undertook welfare reform. We brought in all the governors and we had a tremendous team effort." — Fox. (http://www.foxnews.com/on-air/hannity/transcript/gingrich-comes-out-swinging-against-obama-after-announcing-presidential-bid?page=2)
THE FACTS: The unacknowledged partner in Gingrich's "we" is Clinton, who drove for a welfare overhaul as a defining element of his presidential campaign and claims budget surpluses as part of his legacy, too.
Gingrich's account of fiscal reformation does not mention that he cut a deal with Clinton forcing Republicans to swallow a major new entitlement, the largest expansion of taxpayer-financed health insurance coverage for children since Medicaid began in the 1960s.
At its creation in 1997, SCHIP was the largest expansion of taxpayer-funded health insurance coverage for children in the U.S. since Medicaid began in the 1960s. (http://en.wikipedia.org/wiki/SCHIP)
"I worked with President Ronald Reagan in a very difficult period. We got jobs created again, Americans proud of America, and the Soviet Union disappeared. As speaker of the house, I worked to reform welfare..." — Campaign video. (http://www.youtube.com/watch?v=xRSz21Vedxc)
THE FACTS: Most Republican presidential candidates — and some Democrats — associate themselves with Reagan as much as they can, and Gingrich
certainly served in the House during the Reagan years. But in compressing his biography, Gingrich may have left the impression with those unfamiliar with
presidential history that he was speaker during Reagan's presidency. The only president Gingrich worked with as speaker was Clinton. Gingrich's first Republican leadership position, as minority whip, began when Reagan left office, in 1989.
Newt Gingrich:
16th United States House of Representatives Minority Whip
In office March 20, 1989 – January 3, 1995
58th Speaker of the United States House of Representatives
In office January 4, 1995 – January 3, 1999
Ronald Reagan Presidency: January 20, 1981, to January 20, 1989