Quote:
Originally Posted by cat's meow
'Johnson's" war continued into Nixon's and he started what just continued in terms of money being thrown away. Remember this war went to 1975 and financial commitments go way beyond just Vietnam itself and 1968.
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Here are the average balance sheets (as a percentage of GDP) for Johnson and Nixon:
Johnson (FY65-69)
Receipts: 18.10
Outlays: 18.98
Balance: -0.88
Nixon (FY70-75)
Receipts: 17.95
Outlays: 19.58
Balance: -1.63
So Nixon just about doubled the Budget Deficit compared to Johnson, and most of that was due to extra spending (Outlays). But since the devil is in the details, let's have a look at what areas Nixon cut and what he raised spending on:
Nixon Spending Cuts:
General Science, Space & Technology: -0.39 (54%)
International Affairs: -0.25 (38%)
Agriculture: -0.16 (33%)
National Defense: -2.11 (25%)
Transportation: -0.05 (7%)
Commerce & Housing Credit: -0.02 (6%)
Nixon Spending Increases:
General Government: +0.29 (138%)
Medicare: +0.35 (109%)
Community & Regional Development: +0.14 (93%)
Administration of Justice: +0.07 (88%)
Income Security: +1.01 (75%)
Health: +0.30 (71%)
Education, Training, Employment & Social Services: +0.26 (38%)
Social Security: +0.91 (33%)
Energy: +0.02 (20%)
Veterans Benefits & Services: +0.13 (16%)
Natural Resources & Environment: +0.04 (12%)
Net Interest: +0.13 (10%)
Where do you figure Nixon's spending was wasteful? If anything, I think Nixon's spending levels reflect the full funding of the Great Society programs initiated by Johnson.