Toddsterpatriot
Diamond Member
Over in 5 months and he still managed to add $9.3 trillion to the debt.
Economically, was there anything he did right?
Deficit this year surpasses 1 trillion ............ winning!
- Thread starter RealDave
- Start date
Over in 5 months and he still managed to add $9.3 trillion to the debt.
Economically, was there anything he did right?
Third Party
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Sucky-they are all over the place like cockroaches.
deanrd
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Donald Trump is no good businessman. It’s stupid to say he is. He’s had half a dozen bankruptcies and no American Bank would lend him money and that’s how he got so much Russian money. That’s why he has to protect Russia. Because he owes them.
Third Party
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Nice picture-but I bet someone else could put up something to refute it.
What is there to say?
C_Clayton_Jones
Diamond Member
It was Bush’s recession.
And unlike Trump, Obama inherited a devastated economy.
Carl in Michigan
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9 TRILLION under Obama's 8 years
Thanks Obama.
lantern2814
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Another butt hurt Dave "I hate Trump" thread? Yawn.......
Toddsterpatriot
Diamond Member
And unlike Trump, Obama inherited a devastated economy.
The recession ended in June 2009.
Sunsettommy
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The partisanship in the thread is why I left BOTH parties, they suck at working together, they rather waste so much energy blaming each other over the absurd debt and anything else.
Beating each other over the head is immature and useless, since it won't solve anything, what can work is make compromises like we used to do.....
Here is the reality, Obama and Trump have massive deficits every year, mostly unfixable since MANDATORY part of the budget is mandated by law. This means 2/3 rds of the budget MUST be funded, no cuts allowed by current law.
Here is a nice run down on the budget, from The Balance
Excerpt:
"Government spending is in three categories: Mandatory, which is at $2.841 trillion; Discretionary at $1.426 trillion; and interest on the national debt, $479 billion. This article provides a detailed breakdown of each. You can also find links to past budgets at the end.
The federal government estimated it would receive $3.645 trillion in revenue. Most of the taxes are paid by you, either through income or payroll taxes:
The INTEREST on the debt is 480 BILLION, what a waste that is!
The last time there was a budget Surplus was in 1969, under Lyndon Johnson's last year.
Beating each other over the head is immature and useless, since it won't solve anything, what can work is make compromises like we used to do.....
Here is the reality, Obama and Trump have massive deficits every year, mostly unfixable since MANDATORY part of the budget is mandated by law. This means 2/3 rds of the budget MUST be funded, no cuts allowed by current law.
Here is a nice run down on the budget, from The Balance
Excerpt:
"Government spending is in three categories: Mandatory, which is at $2.841 trillion; Discretionary at $1.426 trillion; and interest on the national debt, $479 billion. This article provides a detailed breakdown of each. You can also find links to past budgets at the end.
The federal government estimated it would receive $3.645 trillion in revenue. Most of the taxes are paid by you, either through income or payroll taxes:
- Income taxes contribute $1.824 trillion or 50% of total receipts.
- Social Security, Medicare, and other payroll taxes add $1.295 trillion or 36%.
- Corporate taxes supply $255 billion or 7%.
- Excise taxes and tariffs contribute $157 billion or 4%.
- Earnings from the Federal Reserve's holdings add $49 billion or 2%. Those are interest payments on the U.S. Treasury debt the Fed acquired through quantitative easing.
- Estate taxes and other miscellaneous revenue supply the remaining 2%."
The INTEREST on the debt is 480 BILLION, what a waste that is!
The last time there was a budget Surplus was in 1969, under Lyndon Johnson's last year.
rightwinger
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Toddsterpatriot
Diamond Member
whitehall
Diamond Member
Refresh my memory but I don't remember CNN complaining about the deficit a single time during the eight long, long years of Obama deficit spending.
Sunsettommy
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They could try.Nice picture-but I bet someone else could put up something to refute it.
What is there to say?
You must be too stupid to notice that FOUR years of $1 TRILLION plus deficits happened under Obama, while Trump might reach that level in year four in 2020 if his proposed budget gets approved........, YOUR OWN CHART!!!
I see that you completely ignored my post 32 where it shows that Obama is by far the number one debt creator,
Selected excerpt:
"The Four Presidents with the Worst Deficits So Far
President Barack Obama had the largest deficits. By the end of his final budget, FY 2017, his deficits totaled $6.785 trillion. Obama took office during the Great Recession. He immediately needed to spend billions to stop it. He convinced Congress to add $253 billion from the economic stimulus package to Bush’s FY 2009 budget. The American Recovery and Reinvestment Act added another $534 billion over the rest of Obama’s terms.
In 2010, the Obama tax cut added $858 billion in deficits in its first two years. Obama increased defense spending, totaling $800 billion a year. Federal income decreased due to lower tax receipts from the 2008 financial crisis.
Both Presidents Bush and Obama suffered from higher mandatory spending than their predecessors did. Social Security and Medicare benefits were eating up more of the budget. Health care costs were rising as the American population aged. In 2010, Obama signed the Patient Protection and Affordable Care Act. It sought to reduce health care spending. This reduction would lower the debt by $143 billion by 2020.
President George W. Bush is next, racking up $3.293 trillion over two terms. He responded to the 9/11 attacks with the War on Terror. That raised military spending to $600 billion a year. The Bush tax cuts, also known as the Economic Growth and Tax Relief Reconciliation Act and Jobs and Growth Tax Relief Reconciliation Act, cut taxes to address the 2001 recession. Unfortunately, the cuts did not sunset when the recession was over. That worsened the housing boom and depleted revenues during the 2008 recession.
He attacked the 2008 financial crisis with the $700 billion bailout. Congress added the bailout to the mandatory budget. There it became the Troubled Asset Relief Program.
President Ronald Reagan added $1.412 trillion in deficits, almost doubling the debt. He fought the 1982 recession by cutting the top income tax rate from 70 percent to 28 percent and the corporate rate from 48 percent to 34 percent. Reagan also increased government spending by 2.5 percent a year. That included a 35 percent increase in the defense budget and an expansion of Medicare.
President George H.W. Bush created a $1.03 trillion deficit in one term. He responded to Iraq's invasion of Kuwait with Desert Storm. He oversaw the $125 billion bailout that ended the 1989 Savings and Loan crisis. The 1991 recession cut into tax revenue."
==========================================
It doesn't really matter since BOTH political parties are not addressing it, as they are too busy fighting each other over the 1/3 of the budget and blaming each other like little kids.
Last edited:
Carl in Michigan
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Or liberals here
Toro
Diamond Member
Wrong.
In those five months, we added $783 billion in debt, not $9.3 trillion.
Federal Debt: Total Public Debt
Toro
Diamond Member
Obama added $8.1 trillion, not $9 trillion.
We have 13 quarters of Trump being President. In those 13 quarters, Trump has added $2.8 trillion in debt.
In the last 13 quarters of the Obama Presidency, we added $2.8 trillion in debt.
Federal Debt: Total Public Debt
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