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That Thing You Do!
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"That Thing You Do" redirects here. For the song, see That Thing You Do (song).
That Thing You Do!
Theatrical release poster
Directed by
Tom Hanks
Produced by
Jonathan Demme
Gary Goetzman
Edward Saxon
Written by
Tom Hanks
Starring
Tom Everett Scott
Liv Tyler
Johnathon Schaech
Steve Zahn
Ethan Embry
Tom Hanks
Music by
Howard Shore
Cinematography
Tak Fujimoto
Edited by
Richard Chew
Production
company
Clavius Base
Distributed by
20th Century Fox
Release date
October 4, 1996 (1996-10-04)
Running time
108 minutes
148 minutes (Extended cut)
Country
United States
Language
English
Budget
$26 million
Box office
$34.5 million[1]
That Thing You Do! is a 1996 American musical comedy-drama film written and directed by Tom Hanks in his directorial debut; he also co-stars in it. Set in the summer of 1964, the film tells the story of the rise and fall of a one-hit wonder pop band. The film also resulted in a musical hit with the song "That Thing You Do".
Contents
[hide]
1 Plot
2 Cast
3 Production and music
3.1 The (real) Wonders
3.2 References to The Beatles
4 Soundtrack
4.1 Track listing
5 Reception
6 Home media
6.1 Initial release
6.2 First DVD
6.3 Extended Edition DVD
6.4 2007 DVD repackage re-release
6.5 Blu-ray release
7 See also
8 References
9 External links
Plot[edit]
In 1964, in Erie, Pennsylvania, aspiring jazz drummer Guy Patterson (Tom Everett Scott) is asked by Jimmy Mattingly (Johnathon Schaech) and Lenny Haise (Steve Zahn) to sit in with their band at an annual talent show, after their regular drummer breaks his arm trying to jump over a parking meter. The band, which also includes bassist T.B. Player (Ethan Embry), adopts the name "The Oneders" (pronounced "wonders", but often mispronounced "oh-NEE-ders"). At the talent show, Guy launches into a faster tempo than intended for Jimmy's ballad, "That Thing You Do", and the band wins the competition. The Oneders' performance at the talent show earns them a paying gig at a local restaurant, after which they make a recording of their song and begin to sell recordings of "That Thing You Do". They are noticed by talent promoter Phil Horace (Chris Ellis), who promises to get their record parlayed on the radio and they sign with to be their manager.
Horace achieves radio airplay for the song and books the band at a rock & roll showcase concert in Pittsburgh, after which they are offered a contract by Play-Tone Records A&R representative Mr. White (Hanks). White changes the band's name to "The Wonders" as they join a Midwestern Play-Tone tour, taking along Jimmy's girlfriend, Faye (Liv Tyler), as their official "costume mistress". During the tour, "That Thing You Do" garners national radio airplay and becomes a bona-fide hit. As the band's popularity soars, Jimmy grows frustrated that the group is not focused on creating more music, while the remainder of the band enjoys their time in the spotlight. All the while, Guy and Faye grow closer as friends. When the song enters the top ten on the Billboard charts, the band is taken off the tour and sent to Los Angeles.
Faye falls ill on the trip and is nursed by Guy. Jimmy is seemingly uninterested in her well-being, being preoccupied with trying to convince White to let the band record more of his original songs. After a publicity tour, the band is set to appear on The Hollywood Television Showcase, a nationally televised live variety show. They begin to show signs of discord. Jimmy continues to vent frustration at White over the band's direction. T.B. (who was leaving to join the United States Marine Corps in a few weeks) goes to Disneyland with a group of Marines, misses the TV show, and never returns; he is replaced in the broadcast by a session bassist. During the performance, as the band is being visually introduced to the viewing audience, the caption "Careful girls, he's engaged!" appears under Jimmy's name. Jimmy, assuming the caption was Faye's idea, becomes upset with Faye in the dressing room afterward, and says that he has no intention of marrying her. Heartbroken and weary with his arrogant personality and lack of devotion, Faye terminates their relationship and as she walks out Jimmy states he should have dumped her in Pittsburgh. Guy is appalled and it's obvious he has strong feelings for Faye.
The next day at a scheduled recording session, Lenny who left on a trip to Vegas with his new girlfriend, is missing and Jimmy's grievances with White reach a boiling point when he is not allowed to record his own songs and he quits the band. Guy is sorry to see the end of the band. White confronts him, and declares the band a one-hit wonder, but commends Guy for his smarts and integrity. After an impromptu jam session with his idol, jazz pianist Del Paxton (Bill Cobbs), Guy returns to the band's hotel, where he catches Faye before she leaves and is encouraged by the bell captain to intercept her and shares a long kiss with her. In an epilogue, it is revealed that Jimmy went back to Play-Tone and formed another band and had a successful career as an artist and producer, Lenny becomes a hotel and casino manager in Nevada, and T.B. earns a Purple Heart for injuries suffered at Khe Sanh. Guy and Faye start a family in Venice, California and then move to Bainbridge Island in Washington, where Guy teaches jazz composition at a music conservatory that he and Faye found.
Cast[edit]
Tom Everett Scott as Guy Patterson
Johnathon Schaech as Jimmy Mattingly
Tom Hanks as Mr. White
Steve Zahn as Lenny Haise
Ethan Embry as T. B. Player
Liv Tyler as Faye Dolan
Charlize Theron as Tina Powers
Bill Cobbs as Del Paxton
Giovanni Ribisi as Chad
Obba Babatundé as Lamarr
Alex Rocco as Sol Siler
Chris Isaak as Uncle Bob
Larry Antonino as Scott "Wolfman" Pell
Holmes Osborne as Mr. Patterson
Playtone artists
Robert Torti as Freddy Fredrickson
Kennya Ramsey, Julie Harkness, and Darlene Dillinger as The Chantrellines
Chaille Percival as Diane Dane
Cameos and/or supporting roles
Director Jonathan Demme, one of the producers of That Thing You Do!, has a cameo as the director of Weekend At Party Pier.
Comedian Barry Sobel has a cameo as "Goofball" in Weekend at Party Pier.
Tracy Reiner has a cameo as Anita, the co-star of Weekend at Party Pier.
Musician Chris Isaak appears as Uncle Bob, who produces the band's first recording.
Actress Rita Wilson, Hanks' wife, has a small part as Marguerite, the waitress at The Blue Spot jazz club, whose interest in Guy becomes compromised when Guy realizes his jazz idol, Del Paxton, is in the club.
Tom Hanks' son, Colin, appears as a page at the City of Broadcasting. He can be seen escorting Faye (Liv Tyler) from her car to her seat in the studio audience. His role is slightly expanded in the extended edition DVD.
Elizabeth Hanks, Hanks' daughter with his first wife, appears as "Bored Girl in Dress Shop".
Peter Scolari plays Troy Chesterfield, host of The Hollywood Television Showcase.
Football player/commentator Howie Long appears as Mr. White's driver/partner Lloyd in the extended cut; his part was entirely cut from the theatrical release.
Bryan Cranston appears as astronaut Gus Grissom during The Hollywood Television Showcase scenes.
Clint Howard, the brother of Ron Howard, appears as a KJZZ Disk Jockey.
Kevin Pollak appears as Victor "Boss Vic Koss" Kosslovich
Gedde Watanabe appears as a Playtone photographer.
Chris Ellis appears as Phil Horace, the band's first manager.
Marc McClure appears as the Hollywood Showcase director.
Production and music[edit]
The movie features original music by Tom Hanks, Adam Schlesinger, Rick Elias, Scott Rogness, Mike Piccirillo, Gary Goetzman and Howard Shore. In the movie, The Wonders rise to brief stardom on the strength of "That Thing You Do", a song written as a wistful ballad but which becomes an uptempo rocker during the band's first performance at a talent show. Written and composed for the film by Adam Schlesinger, bassist for Fountains of Wayne and Ivy and released on the film's soundtrack, the song became a genuine hit for The Wonders in 1996 (the song peaked at #41 on the Billboard Hot 100, #22 on the Adult Contemporary charts, #18 on the Adult Top 40, and #24 on the Top 40 Mainstream charts). The track was nominated for a 1996 Golden Globe Award as well as a 1996 Academy Award for Best Original Song. Mike Viola of The Candy Butchers provided the lead vocals for the Wonders.
In the film, the title song is referenced with "All My Only Dreams" as the B-side. The actual 45 RPM single, released to record stores in North America, features "Dance With Me Tonight" as its B-side. The song has since been recorded by The Knack and Bubblegum Lemonade. The Wonders are also seen playing the song "Little Wild One." This was written by the band Gigolo Aunts as a "faux-Beatles"-style tune at the request of their record label to be submitted for consideration for inclusion in the film.[2]
For the purpose of being able to convincingly perform The Wonders' songs on-camera, Scott, Schaech, Zahn and Embry took several weeks of individual lessons, followed by daily practice as a group. Of the four, only Zahn and Embry had any prior experience of playing their assigned instruments. They eventually honed their performance to the point where extras on the set thought they were actually playing the songs, when in reality they were miming along to recordings by professional musicians.[3]
The song that plays during the film's opening credits, "Lovin' You Lots and Lots," is credited to the fictitious Norm Wooster Singers and was actually written by Hanks. This song is a parody of Ray Conniff, Mitch Miller, and other practitioners of the "beautiful music" or proto-Muzak formats that were a staple of adult radio during the early '60s such as on KPOL (AM)1540 in Los Angeles.[4][5] Hanks also composed Guy's jazzy signature drum solo, "I Am Spartacus."
The ballad "My World Is Over" by Diane Dane seems inspired by the compositions of Burt Bacharach and Hal David, and the vocal performance is strongly reminiscent of Jackie DeShannon.
The Wonders' bassist (played by Ethan Embry) is unnamed in the film; his name, T.B. Player (literally, "The Bass Player"), is revealed only in the end credits. This is a joke based on the perception that bass players are often unknown and unappreciated. Embry would later provide his own take on the character's real name: "I just said my name was Tobias, because he’s such a Tobias. You just take the vowels out [and it’s T.B.] His nickname was Toby, but his mom calls him Tobias. And his last name actually was Player, because he was a player, dude! That carousel ride with the Chantrellines? Total player."[3]
Some music was written for the film by Lee Hartney from The Smith Street Band but didn't make the final cut.
The tour and TV appearance are done in the authentic style of rock bands of the mid-1960s, including Go-Go girls, elaborate sharing of microphones, and formal clothing in various matching colors.
The character of fictional Pittsburgh disc jockey "Boss Vic Koss" whose actual last name was "Kosslovich" may be inspired by real-life Pittsburgh radio personality "Mad Mike Metro," who worked at WZUM in the 60s. His actual last name was "Metrovich".
The song "Voyage Around the Moon" by the fictional band Saturn 5 closely resembles "Pipeline" by The Chantays. The scene where The Wonders are miming the instrumental tune "Shrimp Shack" during the filming of a beach party film titled Weekend at Party Pier is an overt reference to the scene in Pajama Party wherein The Nooney Rickett 4 play the instrumental song Beach Ball.[6]
The movie was written at a time when Hanks' was dealing with his own issues with increasing successes in his career. During his appearance on Inside the Actors Studio, Hanks said he told the studio, "I'm a big honkin' star and you have to let me do what I want to do", to which the studio replied, "You're absolutely right."
The (real) Wonders[edit]
There were at least two real bands named the Wonders who made the record charts at various radio stations in the early '60s. One had a ballad titled "With These Hands" (b/w "Please Don't Cry"; Bamboo 523) that was played by KCRG in Cedar Rapids, Iowa, in the fall of 1962.[7]
The other Wonders had a regional hit record called "Say There" (b/w "Marilyn"; Colpix 699), released by Colpix Records in August 1963.[8] Little is known about these Wonders, except that they were probably from Ohio or Pennsylvania; "Say There" hit the Top 20 at WCOL in Columbus, Ohio, and made the Top 30 at KQV in Pittsburgh.[9] (There is a scene in the film in which a disc jockey at WCOL is seen playing "That Thing You Do!")[10]
References to The Beatles[edit]
The name "The Oneders" references The Beatles' purposeful misspelling in their name.
Both bands lost their original bass player and replaced their original drummer.
The song "That Thing You Do" is portrayed as a ballad that was sped up and became a hit; the Beatles' "Please Please Me" started as a ballad, was sped up, and became the group's first No. 1.[11]
White is modeled on Brian Epstein and in the extended cut is shown to have a boyfriend (Epstein was gay).
According to Tom Hanks, the film grew out of the idea of the Beatles' breakthrough after Pete Best's firing.[12]
The "Careful girls, he's engaged" caption under Mattingly's name is a reference to the "Sorry girls, he's married" caption under John Lennon's name when The Beatles appeared on The Ed Sullivan Show.
Faye is mistaken for a fan and is prevented by the police from following the band. A similar incident happened to Cynthia Lennon, John Lennon's first wife.
Soundtrack[edit]
The soundtrack album (released under the Play-Tone name in conjunction with Epic Records) was also a hit, peaking at #21 on the Billboard 200 albums chart. The CD artwork is a replica of the fictional Play-Tone label used in the movie, and the liner notes are done in a mockumentary style, as if the Wonders had been a real group and the events of the film had actually happened. Hanks later used the success of That Thing You Do! as a spring-board to launch the actual Playtone Records label, through which the soundtracks of all his subsequent films, and other films like Bring It On and television programs like The Sopranos were released as albums.
Track listing[edit]
No.
Title
Music
Artist
Length
1. "Lovin' You Lots and Lots" Tom Hanks The Norm Wooster Singers 1:54
2. "That Thing You Do!" Adam Schlesinger The Wonders 2:47
3. "Little Wild One" David Gibbs, Steve Hurley, Phil Hurley, Fred Elringham The Wonders 2:30
4. "Dance With Me Tonight" Scott Rogness, Rick Elias The Wonders 2:05
5. "All My Only Dreams" Rogness, Elias The Wonders 2:54
6. "I Need You (That Thing You Do)" (The movie credits list this song as being from 'The Heardsmen'.) Rogness, Elias, Linda Elias The Wonders 2:53
7. "She Knows It" Rogness, Elias The Heardsmen 3:01
8. "Mr. Downtown" Hanks, Gary Goetzman, Mike Piccirillo Freddy Fredrickson 2:32
9. "Hold My Hand, Hold My Heart" Hanks, Goetzman, Piccirillo The Chantrellines 3:11
10. "Voyage Around The Moon" Hanks, Goetzman, Piccirillo The Saturn 5 3:04
11. "My World Is Over" Piccirillo Diane Dane 3:01
12. "Drive Faster" Rogness, Elias The Vicksburgs 2:48
13. "Shrimp Shack" Piccirillo Cap'n Geech & The Shrimp Shack Shooters 2:22
14. "Time To Blow" Steve Tyrell, Robert Mann Del Paxton 4:20
15. "That Thing You Do! (Live at the Hollywood Television Showcase)" Schlesinger The Wonders 2:54
Total length: 42:09
Reception[edit]
The film was well received by critics and currently holds a 93% fresh rating at the film review aggregator Rotten Tomatoes, based on 56 reviews with an average rating of 7.2/10. The site's consensus reads, "A light, sweet, and thoroughly entertaining debut for director Tom Hanks, That Thing You Do! makes up in charm what it lacks in complexity". The film debuted at No. 3.[13] The film grossed $25,857,416 domestically and $8,728,000 abroad for a worldwide gross of $34,585,416.[1]
The film is recognized by the American Film Institute in this list:
2004: AFI's 100 Years...100 Songs:
"That Thing You Do!" – Nominated[14]
Home media[edit]
Initial release[edit]
That Thing You Do! was first released in mid-1997 on VHS. In 1998, the film became available in the DIVX format (as with all 20th Century Fox films), rather than DVD.
First DVD[edit]
After DIVX failed, the film was released onto DVD on June 5, 2001. It included the featurette "The Making of That Thing You Do!," and two music videos.
Extended Edition DVD[edit]
On May 8, 2007, Tom Hanks' Extended Edition was released on DVD. The film's theatrical cut and an extended cut with 39 additional minutes of deleted scenes are included.
Many of the deleted scenes are devoted to character development. A tastefully steamy look at Guy's "make-out" session with Tina at his apartment is included. The extended version also goes more in-depth with Guy's developing relationship with Faye (via mild flirting) and his deteriorating relationship with Tina, as well as Tina's budding relationship with her dentist, Dr. Collins. It also suggests that the character portrayed by Tom Hanks (Mr. White) is not only gay but in a relationship with a man played by former NFL defensive lineman Howie Long.
More camera time is also devoted to the romance between the bass player and one of the singers of the Chantrellines. In the theatrical cut, this romance was depicted mainly as an unrequited crush on the part of the bass player; in the extended cut it is clearly shown that his efforts were successful.
At the end of the Extended Edition, rather than becoming a studio drummer on the recommendation of Del Paxton, Guy becomes a disc jockey for the jazz station KJZZ and records a documentary series of interviews with legendary jazz musicians.
2007 DVD repackage re-release[edit]
That Thing You Do! was packaged with Bachelor Party and The Man with One Red Shoe in the Tom Hanks Triple Feature DVD anthology set. The actual DVD appears to be the original 2001 disc, with the featurette and music videos.
Blu-ray release[edit]
20th Century Fox Home Entertainment released the film on Blu-ray on April 2, 2013. The Blu-ray includes the Theatrical and Extended cuts as well as all of the bonus features found on the 2-Disc DVD.
See also[edit]
Playtone
References[edit]
^ Jump up to: a b "That Thing You Do! (1996)". Box Office Mojo. 1996-11-15. Retrieved 2011-01-31.
Jump up ^ Drees, Rich (2007-08-18). "That Tune You Do: Writing The Music For THAT THING YOU DO". FilmBuffOnline. Retrieved 2016-02-05.
^ Jump up to: a b Sollosi, Mary (2016-10-04). "That Thing You Do! 20th anniversary: The Wonders look back". Entertainment Weekly. Retrieved 2017-04-27.
Jump up ^ "That Thing You Do: Various Artists: Music". Amazon.com. Retrieved 2011-01-31.
Jump up ^ "KPOL Archive #1". Earthsignals.com. Retrieved 2011-01-31.
Jump up ^ Compilation: The Nooney Rickett 4 in Pajama Party on YouTube
Jump up ^ Tim Warden. "KCRG 1600 Cedar Rapids Survey 09/22/62".
Jump up ^ "45cat - The Wonders [Colpix] - Say There / Marilyn - Colpix - USA - CP 699". 45cat.
Jump up ^ Tim Warden. "The Wonders — Say There".
Jump up ^ Both records by the real Wonders can be found on YouTube.[citation needed]
Jump up ^ Will Hodgkinson. "Sir George Martin". The Guardian.
Jump up ^ Mallory Curley, Beatle Pete, Time Traveller, p. 221, quoting Hanks's statement in Ottawa Citizen, 29 September 1996: " It's not John, Paul, George and Pete--it's John, Paul, George and Ringo, and you can't help but think two things. Number one, is Ringo the reason that the Beatles became the Beatles? And number two, Poor Pete."
Jump up ^ Puig, Claudia (1996-10-08). "Weekend Box Office". The Los Angeles Times. Retrieved 2011-01-01.
Jump up ^ "AFI's 100 Years...100 Songs Nominees" (PDF). Retrieved 2016-08-05.
External links[edit]
Wikiquote has quotations related to: That Thing You Do!
That Thing You Do! on IMDb
That Thing You Do! at the TCM Movie Database
That Thing You Do! at AllMovie
That Thing You Do! at Box Office Mojo
That Thing You Do! at Rotten Tomatoes
That Thing You Do! at Metacritic
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Cast Away (2000)
My Big Fat Greek Wedding (2002)
Connie and Carla (2004)
Magnificent Desolation: Walking on the Moon 3D (2005)
Neil Young: Heart of Gold (2006)
The Ant Bully (2006)
Starter for 10 (2006)
Charlie Wilson's War (2007)
The Great Buck Howard (2008)
City of Ember (2008)
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text:
The Witches of Eastwick (film)
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The Witches of Eastwick
Theatrical release poster
Directed by
George Miller
Produced by
Neil Canton
Peter Guber
Jon Peters
Screenplay by
Michael Cristofer
Based on
The Witches of Eastwick
by John Updike
Starring
Jack Nicholson
Cher
Susan Sarandon
Michelle Pfeiffer
Veronica Cartwright
Music by
John Williams
Cinematography
Vilmos Zsigmond
Edited by
Hubert C. de la Bouillerie
Richard Francis-Bruce
Production
company
Guber-Peters Company
Kennedy Miller
Distributed by
Warner Bros.
Release date
June 12, 1987 (1987-06-12)
Running time
118 minutes[1]
Country
United States
Language
English
Budget
$22 million[2]
Box office
$63.8 million[3]
The Witches of Eastwick is a 1987 American comedy-fantasy film based on John Updike's novel The Witches of Eastwick. Directed by George Miller, the film stars Jack Nicholson as Daryl Van Horne, alongside Cher, Michelle Pfeiffer and Susan Sarandon as the eponymous witches.
Contents
[hide]
1 Plot
2 Cast
3 Differences from novel
4 Production
4.1 Filming
4.2 Music
5 Reception
5.1 Critical response
5.2 Awards and honors
6 References
7 External links
Plot[edit]
Alexandra Medford (Cher), Jane Spofford (Susan Sarandon), and Sukie Ridgemont (Michelle Pfeiffer) are three dissatisfied women living in the picturesque town of Eastwick, Rhode Island. Alex is a sculptor and single mother of one daughter; Jane is a newly divorced music teacher unable to have children; while Sukie has six daughters and works as a columnist for the Eastwick Word, the local newspaper. The three friends all have lost their husbands (Alex's died, Jane's divorced her, and Sukie's abandoned her). Unaware that they are witches, the women unwittingly form a coven where they have weekly get-togethers and share their fantasies about ideal men.
A mysterious man (Jack Nicholson) arrives in town and stirs up trouble by buying the town's landmark property: the Lennox Mansion. The arrival of this enigmatic stranger fascinates the townsfolk, all except for Felicia Alden (Veronica Cartwright), the devoutly religious wife of newspaper editor Clyde Alden (Richard Jenkins), Sukie's boss. Felicia senses that this man (whose name is easily forgotten) is up to no good. One night, at one of Jane's music recitals, the strange man appears and makes a spectacle of himself, which leads to more gossip. After the recital, Jane receives a bouquet of flowers with the initial D written on it. This sparks Sukie's memory, finally revealing the man's name as Daryl Van Horne. However, as chaos over the name spreads through the crowd, Sukie's bead necklace inexplicably breaks and falls to the floor, causing Felicia (who had mocked Daryl's name) to trip down a large staircase and break her leg.
The following day, Daryl sets out to seduce Alex. As he converses with her, he says insensitive, disgusting, and rude things every time he speaks. Appalled, she tells him off, refuses his amorous advances, and begins to walk out. Before she opens the door, he speaks to her, manipulating her emotions until she eventually agrees. The next morning, Daryl visits the shy and insecure Jane. As the two sit down and share polite conversation, Jane explains that the Lennox Mansion was built on a site where alleged witches were burned at the stake. Later that night, Daryl encourages Jane to play her cello with wild abandon, never before achieved, playing faster and faster while accompanied by Daryl on the piano, until finally the strings break, the cello bursts into flame, and Jane flings herself upon Daryl with passion. The following week, Daryl invites all three of the women to his mansion, his sights now on Sukie. Later, as envy and rivalry emerge among the women, they inadvertently levitate a tennis ball. Finally aware of their magical abilities, the women agree to share Daryl.
As the women spend more time at Daryl's mansion, Felicia spreads rumors about their indecency. Alex, Jane, and Sukie become social outcasts. As the witches begin to question their loyalty to Daryl, he causes them to unknowingly cast a spell against Felicia. Later that night, while ranting to her husband about Daryl being the Devil, Felicia begins to vomit cherry stones. Horrified by her uncontrollable behavior, Clyde kills her with a fire poker.
After Felicia's death, the three women become fearful of their powers and agree to avoid each other and Daryl until the situation has quieted down. Upset by this abandonment, Daryl uses his own powers to bring their worst fears to life. Alex awakens to a bed full of snakes; Jane's body begins rapidly aging; and Sukie experiences sudden, agonizing pain. Realizing the only way to get rid of Daryl is by using witchcraft against him, the women reunite with him, pretending to have made amends.
The next morning, Daryl sets out to buy bagels and ice cream, as per the request of the three women. While he is out of the mansion, Alex uses wax & Daryl's hair to create a voodoo doll in his image and the three women begin to harm the doll, hoping that Daryl will leave as a result. As the spell takes effect, Daryl - still in town - is buffeted by a sudden wind and begins to feel excruciating pain (each event corresponding to something the doll undergoes). He runs inside a church to hide from the wind and finds it full of people praying. Realizing the source of his troubles, he begins ranting about the women, cursing them as a group before vomiting cherry pits like Felicia did. An enraged Daryl then races home to punish the witches for their betrayal. Realizing their plot to make Daryl leave was ineffective, they attempt to hide their spell and toss the voodoo doll into a fire just as he enters the mansion. Daryl vanishes as a result, but not before reverting to a large, monstrous form that attempts to shake the mansion apart.
Eighteen months later, the women are living together in Daryl's mansion, each with a new baby son (each boy shares his mother's hair color). The boys are playing together when Daryl appears on a wall filled with video screens and invites them to "give Daddy a kiss." Before they can do so, Alex, Jane, and Sukie appear and switch off the televisions.
Cast[edit]
Jack Nicholson as Daryl Van Horne
Cher as Alexandra Medford
Susan Sarandon as Jane Spofford
Michelle Pfeiffer as Sukie Ridgemont
Veronica Cartwright as Felicia Alden
Richard Jenkins as Clyde Alden
Keith Jochim as Walter Neff
Becca Lish as Mrs. Neff
Carel Struycken as Fidel
At one point, Bill Murray was considered for the role of Daryl Van Horne.[4][5]
Differences from novel[edit]
While the film follows the basic structure of the novel, several major developments are dropped, with the book being darker in tone. The setting of both is Rhode Island, but the novel sets the time during the late 1960s. In the novel, Daryl is more devil-like: less of an enabler and more of a selfish, perverse predator and architect of mayhem.[6] Also, the film omits a key episode in the book, where Daryl unexpectedly marries a young, innocent girl named Jenny, and the jealous three witches magically cause her to die of cancer.
Production[edit]
Filming[edit]
While The Witches of Eastwick was originally set to be filmed in Little Compton, Rhode Island, Warner Bros. instead turned to Cohasset, Massachusetts after controversy erupted in Little Compton over whether or not its Congregational church should be involved with the film's production.[7][8] Principal photography began on July 14, 1986 and took place over the course of six weeks in Cohasset and nearby Massachusetts towns,[9] such as Marblehead, and Scituate.[10] Castle Hill in Ipswich, Massachusetts was used for the exterior of the Lenox Mansion, while the lobby of the Wang Center in Boston stood in for the main hall. Other interiors were filmed at the Greystone Mansion in Beverly Hills, though the swimming pool and Daryl's library were sets built on the Warner Bros. backlot.[11]
Prior to filming, a small carving shop led by woodcarver Paul McCarthy was commissioned to hand-carve all the wooden signs for the businesses shown in the movie,[12][13] including the newspaper where Michelle Pfeiffer's character worked – The Eastwick Word.
Music[edit]
The musical score for The Witches of Eastwick was composed by John Williams. A soundtrack album was released by Warner Bros. Records in 1987.[14][15][16]
Reception[edit]
Critical response[edit]
The Witches of Eastwick received positive reviews. It currently holds a rating of 73% on Rotten Tomatoes, with the consensus "A wickedly funny tale of three witches and their duel with the Devil, fueled by some delicious fantasy and arch comedic performances."[17] On Metacritic, based on 10 critics, the film has a 68/100 rating, indicating "generally favorable reviews".[18]
The Washington Post wrote that "Hollywood pulls out all the stops here, including a reordering of John Updike's original book to give you one flashy and chock-full-o'-surprises witches' tale."[19] Janet Maslin in The New York Times commended the "bright, flashy, exclamatory style."[20] Variety described it as a "very funny and irresistible set-up."[21]
Some critics thought that the last part of the film spiraled into ridiculousness. The Washington Post wrote that the second half "lost its magic and degenerated into bunk."[19] According to The New York Times, "beneath the surface charm there is too much confusion, and the charm itself is gone long before the film is over."[20] Time Out wrote that "the last 20 minutes dive straight to the bottom of the proverbial barrel with a final crass orgy of special effects."[22] Roger Ebert in the Chicago Sun-Times acknowledged that "the movie's climax is overdone" yet added that "a lot of the time this movie plays like a plausible story about implausible people."[23]
The majority of critics saw the film as a showcase for Nicholson's comic talents. The Chicago Sun-Times thought it "a role he was born to fill... There is a scene where he dresses in satin pajamas and sprawls full length on a bed, twisting and stretching sinuously in full enjoyment of his sensuality. It is one of the funniest moments of physical humor he has ever committed."[23] The New York Times wrote that although "the performers are eminently watchable... none of them seem a match for Mr. Nicholson's self-proclaimed 'horny little devil'."[20] Variety called it a "no-holds-barred performance," and wrote that the "spectacle of the film is really Nicholson."[21] The Washington Post wrote that Nicholson was "undisputably the star of The Witches of Eastwick, despite formidable competition from his coven played by Cher, Michelle Pfeiffer, and Susan Sarandon," although even more praise was reserved for Veronica Cartwright in an eccentric, scene-stealing supporting role.[24]
Ruth Crawford wrote: "This film includes many fantasy elements. By far the most fantastic of them is the depiction of a single mother of five, who has to work for a living and still has plenty of time and energy left to engage in wild adventures of sex and magic. If being a witch gives you the ability to do that, quite a few women I know would be very happy to sign up at the nearest coven."[25]
Awards and honors[edit]
The film was nominated for two Academy Awards in the categories of Best Original Score (for John Williams' music) and Best Sound, winning neither. The film won a BAFTA Award, however, in the category of Best Special Effects, and received a nomination for the Hugo Award for Best Dramatic Presentation. Williams was also nominated for a Grammy Award for Best Album of Original Instrumental Background Score Written for a Motion Picture or Television, and won a BMI Film Music Award.
Jack Nicholson won a Saturn Award for Best Actor, and the film received nominations in a further six categories: Best Fantasy Film, Best Actress (Susan Sarandon), Best Supporting Actress (Veronica Cartwright), Best Writing (Michael Cristofer), Best Music (John Williams), and Best Special Effects.
Jack Nicholson also won Best Actor awards from the New York Film Critics Circle (for his work in Witches, Ironweed and Broadcast News) and the Los Angeles Film Critics Association (for Witches and Ironweed), the latter shared with Steve Martin for Roxanne (1987).
Awarding body
Award
Nominee
Result
Academy Awards[26] Best Original Score John Williams Nominated
Best Sound Wayne Artman,
Tom Beckert,
Tom E. Dahl, and
Art Rochester Nominated
BAFTA Awards Best Special Visual Effects Michael Lantieri
Michael Owens
Ed Jones
Bruce Walters Won
Grammy Awards Best Album of Original Instrumental Background Score Written for a Motion Picture or Television John Williams Nominated
Hugo Awards Best Dramatic Presentation Nominated
Los Angeles Film Critics Association Best Actor Jack Nicholson Won
(tied with Steve Martin)
New York Film Critics Circle Best Actor Jack Nicholson Won
Saturn Awards Best Fantasy Film Nominated
Best Actor Jack Nicholson Won
Best Actress Susan Sarandon Nominated
Best Supporting Actress Veronica Cartwright Nominated
Best Writing Michael Cristofer Nominated
Best Music John Williams Nominated
Best Special Effects Michael Lantieri Nominated
References[edit]
Jump up ^ "THE WITCHES OF EASTWICK (18)". British Board of Film Classification. June 25, 1987. Retrieved March 19, 2015.
Jump up ^ "The Witches of Eastwick - PowerGrid". thewrap.com. Retrieved August 23, 2015.
Jump up ^ The Witches of Eastwick at Box Office Mojo
Jump up ^ Locke, Greg W. (26 August 2011). "The Top 25 Roles Bill Murray Didn’t Take". Retrieved 25 May 2015.
Jump up ^ Evans, Bradford (17 February 2011). "The Lost Roles of Bill Murray". Retrieved 25 May 2015.
Jump up ^ Books: The Witches of Eastwick Review by Margaret Atwood, May 13, 1984. The New York Times.
Jump up ^ Taylor, Clarke (September 29, 1986). "A Ballyhoo Raised Over 'Witches'". Los Angeles Times. Tribune Publishing. p. 1. Archived from the original on January 10, 2016. Retrieved January 10, 2016.
Jump up ^ "Filming of Updike Book Divides a Seaside Town". The New York Times. The New York Times Company. May 27, 1986. Archived from the original on January 10, 2016. Retrieved January 10, 2016.
Jump up ^ "Site Chosen for 'Witches' Film". The New York Times. The New York Times Company. Associated Press. June 15, 1986. Archived from the original on January 10, 2016. Retrieved January 10, 2016.
Jump up ^ Ocker, J.W. (September 20, 2010). The New England Grimpendium: A Guide to Macabre and Ghastly Sites. New York, New York: The Countryman Press. p. 146. ISBN 0881509191.
Jump up ^ "The Witches of Eastwick (1987)".
Jump up ^ "Paul McCarthy Bio". Nantucket Carving and Folk Art. 2006. Archived from the original on May 9, 2015. Retrieved January 10, 2016.
Jump up ^ "Bold and Brash (and almost over!)". Somma Studio. Archived from the original on January 10, 2016. Retrieved January 10, 2016.
Jump up ^ Clemmensen, Christian (August 11, 2009). "Filmtracks: The Witches of Eastwick (John Williams)". Filmtracks.com. Retrieved January 10, 2016.
Jump up ^ "The Witches of Eastwick Soundtrack". Soundtrack.Net. Autotelics. Retrieved January 10, 2016.
Jump up ^ Ankeny, Jason. "The Witches of Eastwick (Original Motion Picture Soundtrack)". AllMusic. All Media Network. Retrieved January 10, 2016.
Jump up ^ "The Witches of Eastwick Movie Reviews, Pictures". Rotten Tomatoes. Flixster. Retrieved October 3, 2011.
Jump up ^ "The Witches of Eastwick". Metacritic. CBS Interactive. Retrieved March 19, 2015.
^ Jump up to: a b Howe, Desson (June 12, 1987). "The Witches of Eastwick (R)". The Washington Post.
^ Jump up to: a b c Maslin, Janet (June 12, 1987). "Movie Review - The Witches of Eastwick - Film". movies.nytimes.com.
^ Jump up to: a b "The Witches of Eastwick Review - Read Variety's Analysis Of The Movie". Variety. June 12, 1987.
Jump up ^ "The Witches of Eastwick Review, Movie Reviews - Film - Time Out London". timeout.com. Retrieved 2009-09-15.
^ Jump up to: a b Ebert, Roger (June 12, 1987). "The Witches of Eastwick". rogerebert.suntimes.com.
Jump up ^ Kempley, Rita (June 12, 1987). "The Witches of Eastwick (R)". The Washington Post.
Jump up ^ Ruth M. Crawford, "The Reality of Women's Lives as Compared to Media Depictions" in Dr. Sarah Bresford (ed.) "Interdisciplinary Round Table on the Condition of Women's Issues at the Turn of the Twenty-First Century"
Jump up ^ "The 60th Academy Awards (1988) Nominees and Winners". oscars.org. Retrieved 2011-10-16.
External links[edit]
Wikiquote has quotations related to: The Witches of Eastwick (film)
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The Witches of Eastwick at Box Office Mojo
The Witches of Eastwick at Rotten Tomatoes
The Witches of Eastwick at Metacritic
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Twilight Zone: The Movie (1983)
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Lorenzo's Oil (1992)
40,000 Years of Dreaming (1997)
Babe: Pig in the City (1998)
Happy Feet (2006)
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The Witches of Eastwick (1984)
The Widows of Eastwick (2008)
Other novels
The Poorhouse Fair (1959)
The Centaur (1963)
Of the Farm (1965)
Couples (1968)
Marry Me: A Romance (1976)
The Coup (1978)
Roger's Version (1986)
Memories of the Ford Administration (1992)
Brazil (1994)
In the Beauty of the Lilies (1996)
Toward the End of Time (1997)
Gertrude and Claudius (2000)
Terrorist (2006)
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The Same Door (1959)
Pigeon Feathers (1962)
Olinger Stories (1964)
Too Far to Go (1979)
Trust Me (1984)
The Early Stories (2003)
My Father's Tears (2009)
Poetry collections
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Telephone Poles (1963)
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Henry Bech
Olinger
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Tarbox
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Eastwick
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History of the United States public debt
From Wikipedia, the free encyclopedia
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This article needs to be updated. Please update this article to reflect recent events or newly available information. (January 2017)
Federal debt held by the public as a percentage of gross domestic product, from 1790 to 2013, projected to 2038.
The history of the United States public debt started with federal government debt incurred during the American Revolutionary War by the first U.S treasurer, Michael Hillegas, after its formation in 1789. The United States has continuously had a fluctuating public debt since then, except for about a year during 1835–1836. To allow comparisons over the years, public debt is often expressed as a ratio to gross domestic product (GDP). Historically, the United States public debt as a share of GDP has increased during wars and recessions, and subsequently declined.
The United States public debt as a percentage of GDP reached its highest level during Harry Truman's first presidential term, during and after World War II. Public debt as a percentage of GDP fell rapidly in the post-World War II period, and reached a low in 1973 under President Richard Nixon. Debt as a share of GDP has consistently increased since then, except during the terms of presidents Jimmy Carter and Bill Clinton. Public debt rose during the 1980s, as President Reagan cut tax rates and increased military spending. It fell during the 1990s, due to decreased military spending, increased taxes and the 1990s boom. Public debt rose sharply in the wake of the 2007–08 financial crisis and the resulting significant tax revenue declines and spending increases.
Contents
[hide]
1 Early history
1.1 1790s
1.2 The assumption issue
1.3 1790s to 1910
2 World War I and Great Depression
3 After World War II
3.1 2011 credit rating downgrade
4 Changes in debt by political affiliation
5 Causes of recent changes in debt
5.1 2001 vs. 2009
5.2 2001 vs. 2011
5.3 2008 vs. 2009
6 Historical debt levels
6.1 Gross federal debt
6.2 Publicly held debt
7 Federal spending, federal debt and GDP
8 See also
9 Notes
10 References
11 External links
Early history[edit]
Alexander Hamilton's First Report on the Public Credit, January 9, 1790
1790s[edit]
Except for about a year during 1835–1836, the United States has continuously had a fluctuating public debt since its Constitution went into effect on March 4, 1789. During the American Revolution, the Continental Congress, under the Articles of Confederation, amassed huge war debts, but lacked the power to repay these obligations through taxation or duties on imports.[1][2]
On the founding of the United States, the financial affairs of the new federation were in disarray, exacerbated by an economic crisis in urban commercial centers.[3] In 1790, Secretary of the Treasury Alexander Hamilton pushed for Congress to pass a financial plan, called the First Report on the Public Credit,[4] a controversial part of which involved the federal government assuming state debts incurred during the Revolutionary War.[5] Northern states had accumulated a huge amount of debt during the war, amounting to $21.5 million, and wanted the federal government to assume their burden. The Southern states, which had lower or no debts, whose citizens would effectively pay a portion of this debt if the federal government assumed it, were disinclined to accept the proposal. Some states, including Virginia, had already paid off almost half of their debts, and felt that their taxpayers should not be assessed again to bail out the less provident, and further argued that the plan was beyond the constitutional power of the new government. James Madison, then a representative from Virginia, led a group of legislators from the South in blocking the provision and prevent the plan from gaining approval. Jefferson supported Madison[6] The plan was finally adopted as part of the Compromise of 1790, as the Funding Act of 1790. The compromise meant that the state debts were all picked up by the federal Treasury, and the permanent national capital would be located in the South, along the Virginia-Maryland border in what became the District of Colombia.
The assumption issue[edit]
Historian Max M. Edling has explained how assumption worked. It was the critical issue; the location of the capital was a bargaining ploy. Hamilton proposed that the federal Treasury take over and pay off all the debt that states had incurred to pay for the American Revolution. The Treasury would issue bonds that rich people would buy, thereby giving the rich a tangible stake in the success of the national government. Hamilton proposed to pay off the new bonds with revenue from a new tariff on imports. Jefferson originally approved the scheme, but Madison had turned him around by arguing that federal control of debt would consolidate too much power in the national government. Edling points out that after its passage in 1790, the assumption was accepted. Madison did try to pay speculators below 100%, but they were paid the face value of the state debts they held regardless of how little they paid for them. When Jefferson became president he continued the system. The credit of the U.S. was solidly established at home and abroad, and Hamilton was successful in signing up many of the bondholders in his new Federalist Party. Good credit allowed Jefferson's Treasury Secretary Albert Gallatin to borrow in Europe to finance the Louisiana Purchase in 1803, as well as to borrow to finance the War of 1812.[7]
The Southern states extracted a major concession from Hamilton in the recalculation of their debt under the fiscal plan.[8] For example, in the case of Virginia, a zero-sum arrangement was contrived, in which Virginia paid $3.4 million to the federal government, and received exactly that amount in federal compensation.[9] The revision of Virginia’s debt, coupled with Potomac residence issue, ultimately netted it over $13 million.[10] Another result of federal assumption of state debts was to give the federal government much more power by placing the country's most serious financial obligation in the hands of the federal government rather than the state governments. The federal government was able to avoid competing in interest with the States.
The debts of the federal government on January 1, 1791 amounted to $75,463,476.52, of which about $40 million was domestic debt, $12 million was foreign debt, and $18.3 million were state debts assumed by the federal government, of the $21.5 million that had been authorized.[11]
1790s to 1910[edit]
To reduce the debt, from 1796 to 1811 there were 14 budget surpluses and 2 deficits. There was a sharp increase in the debt as a result of the War of 1812. In the 20 years following that war, there were 18 surpluses. The United States actually paid off its debt entirely in January 1835, only to begin accruing debt anew by 1836 (the debt on January 1, 1836 was $37,000).[12][13]
Another sharp increase in the debt occurred as a result of the Civil War. The debt was just $65 million in 1860, but passed $1 billion in 1863 and reached $2.7 billion by the end of the war. During the following 47 years, there were 36 surpluses and 11 deficits. During this period 55% of the national debt was paid off.
World War I and Great Depression[edit]
Debt increased again during World War I (1914–1918), reaching $25.5 billion at its conclusion. Approximately $17 billion in debt was raised through the selling of Liberty Bonds to the general public to finance the U.S.'s military effort. The war was followed by 11 consecutive surpluses that saw the debt reduced by 36% by the end of the 1920s.[14]
Warren G. Harding was elected president in 1920 and believed the federal government should be fiscally managed in a way similar to private sector businesses. He had campaigned in 1920 on the slogan, "Less government in business and more business in government."[15] Under Harding, federal spending declined from $6.3 billion in 1920 to $5 billion in 1921 and $3.3 billion in 1922. Over the course of the 1920s, under the leadership of Calvin Coolidge, the national debt was reduced by one third.[16] The decrease was even greater when the growth in GDP and inflation is taken into account.
Debt held by the public was $15.05 billion or 16.5% of GDP in 1930. When Franklin D. Roosevelt took office in 1933, the public debt was almost $20 billion, 20% of GDP. Decreased tax revenues and spending on social programs during the Great Depression increased the debt and by 1936, the public debt had increased to $33.7 billion, approximately 40% of GDP.[17] During its first term, the Roosevelt administration ran large annual deficits of between 2 and 5% of GDP. By 1939, the debt held by the public had increased to $39.65 billion or 43% of GDP. The buildup and involvement in World War II during the presidencies of F.D. Roosevelt and Harry S. Truman led to the largest increase in public debt. Public debt rose over 100% of GDP to pay for the mobilization before and during the war. Public debt was $251.43 billion or 112% of GDP at the conclusion of the war in 1945 and was $260 billion in 1950. And that's it.
After World War II[edit]
U.S. federal debt held by the public as a percentage of GDP, from 1940 to 2012.
The public debt fell rapidly after the end of World War II under the presidency of Harry S. Truman, as the U.S. and the rest of the world experienced a post-war economic expansion. Unlike previous wars, the Korean War (1950–53) was largely financed by taxation and did not lead to an increase in the public debt.[18]
Growth rates in Western countries began to slow in the mid-1960s. Beginning in the mid-1970s and afterwards, U.S. national debt began to increase faster than GDP.[19][20]
The public debt reached a post-World War II low of 24.6% in 1974.[14][21] In that year, the Congressional Budget and Impoundment Control Act of 1974 reformed the budget process to allow Congress to challenge the president's budget more easily, and, as a consequence, deficits became increasingly difficult to control.[22] National debt held by the public increased from its postwar low of 24.6% of GDP in 1974 to 26.2% in 1980.[23]
Debt held by the public relative to GDP rose rapidly again in the 1980s. President Ronald Reagan's economic policies lowered tax rates (Reagan slashed the top income tax rate from 70% to 28%, although bills passed in 1982 and 1984 later partially reversed those tax cuts.)[22][24] and increased military spending, while congressional Democrats blocked cuts to social programs.[20][22][24][22] As a result, debt as a share of GDP increased from 26.2% in 1980 to 40.9% in 1988,[23] and it continued to rise during the presidency of George H. W. Bush, reaching 48.3% of GDP in 1992.[14][25]
US Federal Debt as Percent of GDP since World War II, with presidential terms marked.
Debt held by the public reached a high of 49.5% of GDP at the beginning of President Clinton's first term. However, it fell to 34.5% of GDP by the end of Clinton's presidency due in part to decreased military spending, increased taxes (in 1990, 1993 and 1997), and increased tax revenue resulting from the 1990s boom.[14][21][26][27][28] The budget controls instituted in the 1990s successfully restrained fiscal action by the Congress and the President and together with economic growth contributed to the budget surpluses at the end of the decade.[29] The surpluses led to a decline in the public debt from about 43% of GDP in 1998 to about 33% by 2001.[29]
In the early 21st century, debt held by the public relative to GDP rose again due in part to the Bush tax cuts and increased military spending caused by the wars in the Middle East and a new entitlement Medicare D program. During the presidency of George W. Bush, debt held by the public increased from $3.339 trillion in September 2001 to $6.369 trillion by the end of 2008.[30][31] In the aftermath of the global financial crisis of 2007–08 and related significant revenue declines and spending increases, debt held by the public increased to $11.917 trillion by the end of July 2013, under the presidency of Barack Obama.[30][32]
2011 credit rating downgrade[edit]
Main article: United States federal government credit-rating downgrade, 2011
On August 5, 2011, the United States debt-ceiling crisis of 2011, the credit rating agency Standard & Poor's downgraded the rating of the federal government from AAA to AA+. It was the first time the U.S. had been downgraded since it was originally given a AAA rating on its debt by Moody's in 1917.[33] BBC News reported that Standard & Poor's had "lost confidence" in the ability of the U.S. government to make decisions.[34]
Changes in debt by political affiliation[edit]
Time series of U.S. public debt overlaid with party affiliation of the President. The upper graph shows the U.S. public debt in trillions of dollars while the lower graph shows the U.S. public debt as a percentage of GDP. (Data are from the 2009 U.S. Budget.)
The President proposes a national budget to Congress, which has final say over the document but rarely appropriates more than what the President requests.[35]
Economist Mike Kimel has noted that the former Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP, while the last four Republican Presidents (George W. Bush, George H. W. Bush, Ronald Reagan and Gerald Ford) all oversaw an increase in the country's indebtedness.[36] Economic historian J. Bradford DeLong, observed a contrast not so much between Republicans and Democrats but between Democrats and "old-style Republicans (Eisenhower and Nixon)" on one hand (decreasing debt) and "new-style Republicans" on the other (increasing debt).[37][38] David Stockman, former director of the Office of Management and Budget, blamed the "ideological tax-cutters" of the Reagan administration for the increase of national debt during the 1980s.[39] Former Treasury official Bruce Bartlett attributed the increase in the national debt since the 1980s to the policy of "starve the beast".[40][41] While noting that George H.W. Bush's budget deal in 1990 was one of the reasons for improvement of the fiscal situation in 1990s, Bartlett was highly critical of George W. Bush for creating budget deficits by reducing tax rates and increasing spending in the early 2000s.[42][43]
Causes of recent changes in debt[edit]
Public debt is the cumulative result of budget deficits; that is, government spending exceeding revenues.
2001 vs. 2009[edit]
Causes of change in Federal spending as % GDP 2001–2009 from CBO Data
According to the Congressional Budget Office, the United States last had a budget surplus during fiscal year 2001. From fiscal years 2001 to 2009, spending increased by 6.5% of gross domestic product (from 18.2% to 24.7%) while taxes declined by 4.7% of GDP (from 19.5% to 14.8%). Spending increases (expressed as percentage of GDP) were in the following areas: Medicare and Medicaid (1.7%), defense (1.6%), income security such as unemployment benefits and food stamps (1.4%), Social Security (0.6%) and all other categories (1.2%). Revenue reductions were individual income taxes (−3.3%), payroll taxes (−0.5%), corporate income taxes (−0.5%) and other (−0.4%).
The 2009 spending level was the highest relative to GDP in 40 years, while the tax receipts were the lowest relative to GDP in 40 years. The next highest spending year was 1985 (22.8%), while the next lowest tax year was 2004 (16.1%).[44]
2001 vs. 2011[edit]
Cause of change between CBO's 2001 projection of a $5.6 trillion surplus between 2002–2012 and the $6.1 trillion debt increase that actually occurred.
In June 2012, the Congressional Budget Office summarized the cause of change between its January 2001 estimate of a $5.6 trillion cumulative surplus between 2002 and 2011 and the actual $6.1 trillion cumulative deficit that occurred, an unfavorable "turnaround" or debt increase of $11.7 trillion. Tax rate cuts and slower-than-expected growth reduced revenues by $6.1 trillion and spending was $5.6 trillion higher. Of this total, the CBO attributes 72% to legislated tax rate cuts and spending increases and 27% to economic and technical factors. Of the latter, 56% occurred from 2009 to 2011.[45][46]
The difference between the projected and actual debt in 2011, the budget office said, could be attributed largely to:
$3.5 trillion – Economic changes (including lower than expected tax revenues and higher safety net spending due to recession)
$1.6 trillion – Bush Tax Cuts (EGTRRA and JGTRRA), primarily tax rate cuts but also some smaller spending increases
$1.5 trillion – Increased non-defense discretionary spending
$1.4 trillion – Wars in Afghanistan and Iraq
$1.4 trillion – Incremental interest due to higher debt balances
$0.9 trillion – Obama stimulus and tax cuts (ARRA and Tax Act of 2010)[46]
The U.S. budget situation has deteriorated significantly since 2001, when the CBO forecast average annual surpluses of approximately $850 billion from 2009–2012. The average deficit forecast in each of those years as of June 2009 was approximately $1,215 billion. The New York Times analyzed this roughly $2 trillion "swing", separating the causes into four major categories along with their share:
Recessions or the business cycle (37%);
Policies enacted by President Bush (33%);
Policies enacted by President Bush and supported or extended by President Obama (20%); and
New policies from President Obama (10%).
Several other articles and experts explained the causes of change in the debt position.[47][48][49]
2008 vs. 2009[edit]
In October 2009, the Congressional Budget Office (CBO) gave the reasons for the higher budget deficit in 2009 ($1,410 billion, i.e. $1.41 trillion) over that of 2008 ($460 billion). The major changes included: declines in tax receipt of $320 billion due to the effects of the recession and another $100 billion due to tax rate cuts in the stimulus bill (the American Recovery and Reinvestment Act or ARRA); $245 billion for the Troubled Asset Relief Program (TARP) and other bailout efforts; $100 billion in additional spending for ARRA; and another $185 billion due to increases in primary budget categories such as Medicare, Medicaid, unemployment insurance, Social Security, and Defense – including the war effort in Afghanistan and Iraq. This was the highest budget deficit relative to GDP (9.9%) since 1945.[50] The national debt increased by $1.9 trillion during FY2009, versus the $1.0 trillion increase during 2008.[51]
The Obama Administration also made four significant accounting changes to more accurately report total federal government spending. The four changes were:
Account for the wars in Iraq and Afghanistan ("overseas military contingencies") in the budget, rather than through supplemental appropriations
Assume the Alternative Minimum Tax is indexed for inflation;
Account for the full costs of Medicare reimbursements
Anticipate inevitable expenditures for natural disaster relief
Obama administration officials predicted that these changes will make the debt over ten years look $2.7 trillion larger than it would otherwise appear.[52]
Historical debt levels[edit]
Gross federal debt[edit]
This table lists the U.S. federal debt as a percentage of gross domestic product, or GDP, each year since World War II.[53] The gross federal debt shown below reached 102.7% of GDP at the end of 2012, the most recent figure available; it was the highest percentage since 1945 and the first yearly percentage figure to go over 100% since then. (The gross federal debt in the table includes intra-government debt – that is, money owed by one branch of the federal government to another. When this latter amount is subtracted, the remaining quantity is known as the public debt.)
Congressional session
Years
President
President's party
Debt-to-GDP ratio at start of period
Debt-to-GDP ratio at end of period
Change in debt (in billions of dollars)
Change in debt-to-GDP ratio
(in percentage points)
77–78 1941–1945 Roosevelt Democratic 50.4% 117.5% +203 +67.1
79–80 1945–1949 Roosevelt, Truman Democratic 117.5% 93.1% -8 -24.4
81–82 1949–1953 Truman Democratic 93.1% 71.4% +13 -21.7
83–84 1953–1957 Eisenhower Republican 71.4% 60.4% +6 -11.0
85–86 1957–1961 Eisenhower Republican 60.4% 55.2% +20 -5.2
87–88 1961–1965 Kennedy, Johnson Democratic 55.2% 46.9% +30 -8.3
89–90 1965–1969 Johnson Democratic 46.9% 38.6% +43 -8.3
91–92 1969–1973 Nixon Republican 38.6% 35.6% +101 -3.0
93–94 1973–1977 Nixon, Ford Republican 35.6% 35.8% +177 +0.2
95–96 1977–1981 Carter Democratic 35.8% 32.5% +288 -3.3
97–98 1981–1985 Reagan Republican 32.5% 43.8% +823 +11.3
99–100 1985–1989 Reagan Republican 43.8% 53.1% +1,050 +9.3
101–102 1989–1993 Bush Sr. Republican 53.1% 66.1% +1,483 +13.0
103–104 1993–1997 Clinton Democratic 66.1% 65.4% +1,018 -0.7
105–106 1997–2001 Clinton Democratic 65.4% 56.4% +401 -9.0
107–108 2001–2005 Bush Republican 56.4% 63.5% +2,135 +7.1
109–110 2005–2009 Bush Republican 63.5% 84.2% +3,971 +20.7
111–112 2009–2013 Obama Democratic 84.2% 102.7% +6,061 +18.5
(Source: CBO Historical Budget Page and Whitehouse FY 2012 Budget – Table 7.1 Federal Debt at the End of Year PDF, Excel, Senate.gov)
Notes:
Some of the debt included in this chart for each presidential administration may include debt added under the next presidential administration.[54]
For net jobs changes over the corresponding periods, see: Jobs created during U.S. presidential terms.
Publicly held debt[edit]
U.S. debt from 1940 to 2011. Red lines indicate the "debt held by the public" and black lines indicate the total national debt or gross public debt. The difference is the intragovernmental debt, which includes obligations to government programs such as Social Security. The top panel shows debt deflated to 2010 dollars; the second panel shows debt as a percentage of GDP.
Publicly held debt is the gross debt minus intra-governmental obligations (such as the money that the government owes to the two Social Security Trust Funds, the Old-Age, Survivors, and Disability Insurance program, and the Social Security Disability Insurance program).[55]
Federal spending, federal debt and GDP[edit]
The table below shows annual federal spending, gross federal debt and gross domestic product for specific fiscal years.[56] The government fiscal year runs from October 1 of the previous calendar year to September 30 of the year shown.
Fiscal year
Federal spending
Federal debt
Gross domestic product
Inflation adjuster[57]
Billions[58]
Adjusted[59]
Change
Billions[60]
Adjusted[61]
Change
Billions[62]
Adjusted[63]
Change
1977 $409 $1,040 $705 $1,795 $1,974 $5,019 0.39
1978 $459 $1,093 5.1% $776 $1,850 3.1% $2,217 $5,285 5.3% 0.42
1979 $504 $1,107 1.3% $829 $1,821 −1.5% $2,501 $5,494 4.0% 0.46
1980 $591 $1,175 6.1% $909 $1,808 −0.8% $2,727 $5,422 −1.3% 0.50
1981 $678 $1,219 3.8% $994 $1,787 −1.1% $3,055 $5,492 1.3% 0.56
1982 $746 $1,252 2.6% $1,137 $1,908 6.8% $3,228 $5,417 −1.4% 0.60
1983 $808 $1,294 3.4% $1,371 $2,195 15.0% $3,441 $5,510 1.7% 0.62
1984 $852 $1,300 0.4% $1,564 $2,386 8.7% $3,840 $5,858 6.3% 0.66
1985 $946 $1,396 7.4% $1,817 $2,680 12.3% $4,142 $6,108 4.3% 0.68
1986 $990 $1,426 2.1% $2,120 $3,052 13.9% $4,412 $6,352 4.0% 0.69
1987 $1,004 $1,406 −1.4% $2,345 $3,283 7.6% $4,647 $6,506 2.4% 0.71
1988 $1,065 $1,447 2.9% $2,601 $3,534 7.7% $5,009 $6,806 4.6% 0.74
1989 $1,144 $1,499 3.6% $2,867 $3,757 6.3% $5,401 $7,077 4.0% 0.76
1990 $1,253 $1,590 6.1% $3,206 $4,067 8.3% $5,735 $7,277 2.8% 0.79
1991 $1,324 $1,610 1.3% $3,598 $4,374 7.5% $5,935 $7,215 −0.8% 0.82
1992 $1,382 $1,624 0.9% $4,001 $4,703 7.5% $6,240 $7,334 1.7% 0.85
1993 $1,410 $1,615 −0.5% $4,351 $4,987 6.0% $6,576 $7,536 2.8% 0.87
1994 $1,462 $1,642 1.7% $4,643 $5,216 4.6% $6,961 $7,820 3.8% 0.89
1995 $1,516 $1,662 1.2% $4,920 $5,395 3.4% $7,326 $8,033 2.7% 0.91
1996 $1,561 $1,673 0.7% $5,181 $5,554 3.0% $7,694 $8,248 2.7% 0.93
1997 $1,601 $1,684 0.7% $5,369 $5,647 1.7% $8,182 $8,606 4.3% 0.95
1998 $1,653 $1,721 2.2% $5,478 $5,704 1.0% $8,628 $8,985 4.4% 0.96
1999 $1,702 $1,746 1.5% $5,605 $5,750 0.8% $9,125 $9,361 4.2% 0.97
2000 $1,789 $1,789 2.5% $5,628 $5,628 −2.1% $9,710 $9,710 3.7% 1.00
2001 $1,863 $1,821 1.8% $5,769 $5,638 0.2% $10,058 $9,829 1.2% 1.02
2002 $2,011 $1,929 6.0% $6,198 $5,945 5.5% $10,377 $9,954 1.3% 1.04
2003 $2,160 $2,018 4.6% $6,760 $6,316 6.2% $10,809 $10,099 1.4% 1.07
2004 $2,293 $2,082 3.2% $7,354 $6,677 5.7% $11,500 $10,441 3.4% 1.10
2005 $2,472 $2,165 4.0% $7,905 $6,923 3.7% $12,238 $10,717 2.6% 1.14
2006 $2,655 $2,249 3.9% $8,451 $7,158 3.4% $13,016 $11,024 2.9% 1.18
2007 $2,730 $2,263 0.6% $8,951 $7,419 3.6% $13,668 $11,329 2.8% 1.21
2008 $2,931 $2,366 4.6% $9,654 $7,793 5.0% $14,312 $11,553 0% 1.24
2009* $3,107 $2,452 3.6% $10,413 $8,218 5.5% $14,097 $11,529 2.6% 1.27
2010* $3,091 $2,392 −2.4% $11,875 $9,247 12.5% $14,508 $11,297 −2.0% 1.29
Note: The values for the years 2009, and 2010 represent estimates from the source material.
See also[edit]
First Report on the Public Credit
United States federal budget
Starve the beast (policy)
United States public debt
United States fiscal cliff
2011 U.S. debt ceiling crisis
Government budget by country
I.O.U.S.A., documentary film by Patrick Creadon
Modern Monetary Theory
Unemployment in the United States
List of U.S. state budgets
Continuing resolution
Appropriations bill (United States)
Deficit reduction in the United States
Notes[edit]
Jump up ^ Staloff, Darren. 2005. Hamilton, Adams, Jefferson: The Politics of Enlightenment and the American Founding. Hill and Wang, New York. ISBN 0-8090-7784-1. p. 69.
Jump up ^ Miller, John C. 1960. The Federalists: 1789–1801. Harper & Row, New York. ISBN 9781577660316. p. 37.
Jump up ^ Hofstadter, Richard. 1948. The American Political Tradition and the Men Who Made It. New York: A. A. Knopf. p. 125.
Jump up ^ First Report of the Public Credit, issued on January 9, 1790.
Jump up ^ Stelzer, Irwin (January 10, 2011). "Who Is the Euro Zone's Alexander Hamilton?". Wall Street Journal. Agenda. Retrieved January 10, 2011.
Jump up ^ Ellis 2002, pp. 48–52
Jump up ^ Max M. Edling, "'So immense a power in the affairs of war': Alexander Hamilton and the restoration of public credit." William and Mary Quarterly 64#2 (2007): 287–326. in JSTOR
Jump up ^ Staloff, 2005, pp. 96–97
Jump up ^ Ellis, 2000, p. 73
Jump up ^ Staloff, 2005, pp. 96, 313; Ellis, 2000, pp. 73–74
Jump up ^ Trescott, Paul. "Federal-State Financial Relations, 1790–1860". 15: 227–45. JSTOR 2114655.
Jump up ^ "Bureau of the Public Debt: The 19th Century". Retrieved July 15, 2012.
Jump up ^ Sharockman, Aaron (January 11, 2010). "PolitiFact: Fla. senator says Jan. 8, 1835, is the only day U.S. has been debt free". Retrieved July 15, 2011.
^ Jump up to: a b c d "Historical Data on the Federal Debt". Congressional Budget Office. August 5, 2010. Retrieved August 25, 2012.
Jump up ^ "Warren G. Harding US President – 1921–23". Archived from the original on September 27, 2011. Retrieved January 25, 2011.
Jump up ^ Thomas E. Woods, Jr. (October 8, 2009). "Depression of 1920". Retrieved May 13, 2010.
Jump up ^ Davidson, Paul (April 25, 2010). "Making dollars and sense of the U.S. government debt" (PDF). Retrieved December 15, 2015.
Jump up ^ Austin, D. Andrew (April 29, 2008). "CRS Report for Congress" (PDF).
Jump up ^ Heinberg, Richard (August 2011). The End of Growth. ISBN 978-0-86571-695-7.
^ Jump up to: a b Cooper, Michael; Story, Louise (27 July 2011). "Q. and A. on the U.S. Debt Ceiling". The New York Times. Retrieved 13 March 2017.
^ Jump up to: a b "Federal Debt Held by the Public as a Share of GDP (1797–2010)" (PDF). Government Accountability Office. Retrieved April 16, 2012.
^ Jump up to: a b c d Dennis S. Ippolito. Why Budgets Matter: Budget Policy and American Politics. Penn State Press, 2004. ISBN 978-0-271-02260-4. pp. 185–86
^ Jump up to: a b "Congressional Budget Office – Historical Data on the Federal Debt". cbo.gov. 2010. Retrieved January 3, 2012.
^ Jump up to: a b Sahadi, Jeanne (September 12, 2010). "Taxes: What people forget about Reagan". CNN Money. Retrieved 2011-08-30.
Jump up ^ "Congressional Budget Office – Historical Data on the Federal Debt". cbo.gov. 2010. Retrieved January 3, 2012.
Jump up ^ FactCheck.org : The Budget and Deficit Under Clinton
Jump up ^ Kessler, Glenn (January 24, 2012). "Fact checking the NBC Florida debate". The Washington Post.
Jump up ^ Kessler, Glenn (July 1, 2011). "Barbara Boxer's blatant rewriting of history". The Washington Post.
^ Jump up to: a b Federal Debt: Answers to Frequently Asked Questions: An Upadate – U.S. Government Accountability Office
^ Jump up to: a b United States Department of the Treasury, Bureau of the Public Debt (December 2010). "The debt to the penny and who holds it". TreasuryDirect. Retrieved August 26, 2012.
Jump up ^ "CBO Historical Tables – 1970 to 2010" (PDF). Retrieved May 18, 2011.
Jump up ^ Democracy in America (July 27, 2011). "There never was a surplus". The Economist. Retrieved January 1, 2012.
Jump up ^ "S&P, in historical move, downgrades U.S. credit rating". Xinhua. August 6, 2011. Retrieved August 8, 2011.
Jump up ^ "'No credible plan to cut US debt'". BBC. August 6, 2011. Retrieved August 8, 2011.
Jump up ^ Fisher, Louis (Nov–Dec 1990). "Federal Budget Doldrums: The Vacuum in Presidential Leadership". Public Administration Review. 50 (6): 693–700. doi:10.2307/976984. JSTOR 976984.
Jump up ^ Kimel, Mike (December 4, 2007). "The Republican Party and the National Debt". angrybearblog.com. Retrieved April 15, 2011.
Jump up ^ Brad DeLong (November 20, 2009). "Comparing Debt-to-GDP Ratios with Presidential Terms". Seeking Alpha. Retrieved 2010-08-09. contrast between the Democrats and the old-style Republicans (Eisenhower and Nixon) on the one hand and the new-style Republicans on the other is quite striking.
Jump up ^ Brad DeLong (May 1, 2008). "Short-Term Costs of Long-Run Fiscal Stupidity – Grasping Reality with Both Hands". Delong.typepad.com. Retrieved 2010-08-09.
Jump up ^ Stockman, David (July 31, 2010). "Four Deformations of the Apocalypse". New York Times. nytimes.com. Retrieved 2010-08-09.
Jump up ^ Bartlett, Bruce (May 7, 2011). "Tax Cuts And 'Starving The Beast'". Forbes.com. Retrieved October 22, 2011.
Jump up ^ Bartlett, Bruce (November 26, 2010). "Starve the Beast: Just Bull, not Good Economics". The Fiscal Times. Retrieved 2011-10-22.
Jump up ^ Bartlett, Bruce (April 9, 2009). "We Need A Party of Fiscal Responsibility". Forbes.com. Retrieved 2012-03-14.
Jump up ^ Bartlett, Bruce (June 25, 2010). "A Budget Deal That Did Reduce the Deficit". The Fiscal Times. Retrieved 2012-03-14.
Jump up ^ "The Budget and Economic Outlook: Fiscal Years 2010 to 2020" (PDF). Congressional Budget Office. January 26, 2010.
Jump up ^ Bartlett, Bruce (June 12, 2012). "The Fiscal Legacy of George W. Bush". The New York Times.
^ Jump up to: a b "Changes in CBO's Baseline Projections Since 2001". Congressional Budget Office. June 7, 2012.
Jump up ^ Leonhardt, David (June 9, 2009). "Americas Sea of Red Ink Was Years in the Making". The New York Times. Retrieved May 18, 2011.
Jump up ^ Charlie Rose Show (November 3, 2009). "Peter Orszag Interview". Archived from the original on January 11, 2012. Retrieved May 18, 2011.
Jump up ^ "The Great Debt Shift" (PDF). Pew Charitable Trusts. April 2011. Archived from the original (PDF) on May 5, 2011. Retrieved May 18, 2011.
Jump up ^ "CBO Monthly Budget Review-October 2009" (PDF). October 7, 2009. Retrieved May 18, 2011.
Jump up ^ "Bureau of the Public Debt/Treasury Direct-Debt changes from September 30, 2008 to September 30, 2009". Treasurydirect.gov. Retrieved May 18, 2011.
Jump up ^ Calmes, Jackie (February 20, 2009). "Obama Bans Gimmicks, and Deficit Will Rise". The New York Times. Retrieved May 26, 2010.
Jump up ^ Budget FY2007
Jump up ^ For example, the $862 Billion stimulus of 2009 was passed by Congress under the Obama Administration, but is included in the 2009 debt totals attributed in the chart to George W. Bush.
Jump up ^ Frontline – Ten Trillion and Counting: Defining the Debt
Jump up ^ Budget FY 2009
Jump up ^ Budget FY2009. Addendum: Composite Deflator, p. 26. Divide current dollars by this number to produce value in (constant) FY2000 dollars.
Jump up ^ Budget FY2009. Outlays in current dollars, p. 26.
Jump up ^ Budget FY2009. Outlays in current dollars, p. 26, divided by inflation adjuster.
Jump up ^ Budget FY 2009. Gross Federal Debt in current dollars, p. 127.
Jump up ^ Budget FY 2009. Gross Federal Debt in current dollars, p. 127, divided by inflation adjuster.
Jump up ^ Budget FY2009. GDP (gross domestic product) in current dollars, p. 194.
Jump up ^ Budget FY2009. GDP (gross domestic product) in current dollars, p. 194, divided by inflation adjuster.
References[edit]
Budget of the United States Government, Fiscal Year 2007.
Budget of the United States Government, Fiscal Year 2009.
Budget of the United States Government, Fiscal Year 2012.
External links[edit]
United States National Debt Tracker, including interactive historical graphs and relationship to GDP.
Stephen Bloch. "U.S. Federal Deficits and Presidents". home.adelphi.edu. Retrieved August 9, 2010.
Brad DeLong (November 20, 2009). "Comparing Debt-to-GDP Ratios with Presidential Terms". Seeking Alpha. Retrieved 2010-08-09.
Brad DeLong (May 1, 2008). "Short-Term Costs of Long-Run Fiscal Stupidity – Grasping Reality with Both Hands". Delong.typepad.com. Retrieved 2010-08-09.
Scott Willeke (March 2, 2010). "United States Deficit & Debt During Presidents from 1969–2019". Blog.scott.willeke.com. Retrieved 2010-08-09.
Steve Stoft. "U.S. National Debt Graph: What the Press Won't Tell You". Zfacts.com. Retrieved 2010-08-09.
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