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See the links in the OP. Trump doubled the deficit in his first two years, before the pandemic.
He also submitted the largest government spending bill in US history.
Trump Proposes a Record $4.75 Trillion Budget
I regret that he went along with any of that. I believe he insisted on more of the money going directly to the american people because he could see everything else would evaporate into thin air: even with the extra amount in the payments, the people still received LESS THAN 25% of the amount spent on the stimulus. Where did the rest go? It seems to me the rest went into the back pockets of various political organizations and contractors with government 'favorites' status. The corruption and mis-spending was well documented. Who knows if any of the money that was mis-spent has actually been returned...it's like the fog of war. It would take a team of thousands of accountants to even begin to trace where the money actually went, and then there's always plausible deniability.
And when the Democrats proposed stimulus checks for everyone, Trump demanded even bigger checks.
Trump says he wants a bigger stimulus package than the $2.2 trillion amount that Democrats are seeking
I appreciate you bringing this topic up, G. We may have different ideas about placing blame, but I agree this issue is bigger than most of us can get our heads around.So don't let anyone hoax you into believing the self-annointed "King of Debt" was frugal.
Nobody cares about spending and debt. Repubs keep handing out tax cuts. The only way anyone will ever care about debt and spending is if taxes increase. A special note is that deficits decreased under Clinton and Obama, they increased with Reagan, Bush, and Trump. I assume they will decrease again under Biden. If only Repubs would stop messing everything up.During his State of the Union address on Tuesday, Biden made the following statement:
By the end of this year, the deficit will be down to less than half what it was before I took office.
The only president ever to cut the deficit by more than one trillion dollars in a single year.
That sounds great..until you realize the fricking deficit is still in the stratosphere.
The federal deficit skyrocketed to $3.132 trillion in Trump's last year in office. So even if Biden got the deficit down to half that amount, it would still be $1.5 trillion!
Not even in Obama's worst year was it that high.
]
I really don't see anything for Biden to brag about.
I realize it will take time to reduce the deficit down to what Trump inherited when he took office. Trump inherited a half trillion dollar deficit and set about doubling that in his first two years when he and the GOP had full control.
If Biden is able to achieve getting the deficit down to half a trillion in four years, then I will be impressed. Though it took Obama eight years to go from one trillion to half a trillion. Biden has a much bigger mountain to climb.
Sources for this topic:
Remarks of President Joe Biden – State of the Union Address As Prepared for Delivery | The White House
United States Capitol Madam Speaker, Madam Vice President, our First Lady and Second Gentleman. Members of Congress and the Cabinet. Justices of the Supreme Court. My fellow Americans. Last year COVID-19 kept us apart. This year we are finally together again. Tonight, we meet as Democrats...www.whitehouse.gov
Fiscal Data Explains the National Deficit
Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficitdatalab.usaspending.gov
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US Budget Deficit by Year Compared to GDP, Debt, and Events
The federal budget deficit rises when government spending is high, such as during wars or recessions. Budget deficits cause the national debt to grow.www.thebalance.com
During his State of the Union address on Tuesday, Biden made the following statement:
By the end of this year, the deficit will be down to less than half what it was before I took office.
The only president ever to cut the deficit by more than one trillion dollars in a single year.
That sounds great..until you realize the fricking deficit is still in the stratosphere.
The federal deficit skyrocketed to $3.132 trillion in Trump's last year in office. So even if Biden got the deficit down to half that amount, it would still be $1.5 trillion!
Not even in Obama's worst year was it that high.
]
I really don't see anything for Biden to brag about.
I realize it will take time to reduce the deficit down to what Trump inherited when he took office. Trump inherited a half trillion dollar deficit and set about doubling that in his first two years when he and the GOP had full control.
If Biden is able to achieve getting the deficit down to half a trillion in four years, then I will be impressed. Though it took Obama eight years to go from one trillion to half a trillion. Biden has a much bigger mountain to climb.
Sources for this topic:
Remarks of President Joe Biden – State of the Union Address As Prepared for Delivery | The White House
United States Capitol Madam Speaker, Madam Vice President, our First Lady and Second Gentleman. Members of Congress and the Cabinet. Justices of the Supreme Court. My fellow Americans. Last year COVID-19 kept us apart. This year we are finally together again. Tonight, we meet as Democrats...
Fiscal Data Explains the National Deficit
Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit
US Budget Deficit by Year Compared to GDP, Debt, and Events
The federal budget deficit rises when government spending is high, such as during wars or recessions. Budget deficits cause the national debt to grow.
It's been out of control for years. People only care when it isn't their guy in the White House.
Funny, our spending as a percentage of our GDP is right about where first world countries fall. Kind of middle of the pack.
But our tax revenue, as a percentage of our GDP? Embarrassing and pathetic.
You are looking at the wrong side of the books.
Ah, I almost forgot, there's a (D) in the White House now.
Democrats can't let NaziCons spend ALL the money to enrich the rich!
Both parties are out to lunch fiscally.
This is why the arguments are primarily about the culture war...its the area where you can talk a big game but not have to worry about paying for it.
LibTards bitching about spending is always fascinating as fuck…literally every policy the filthy fucks push, EVERYTHING and every problem they manifest and perpetuate causes/leads to big spending.Nobody cares about spending and debt. Repubs keep handing out tax cuts. The only way anyone will ever care about debt and spending is if taxes increase. A special note is that deficits decreased under Clinton and Obama, they increased with Reagan, Bush, and Trump. I assume they will decrease again under Biden. If only Repubs would stop messing everything up.
People would care about spending if taxes went up. Repubs cut taxes making more spending guaranteed.LibTards bitching about spending is always fascinating as fuck…literally every policy the filthy fucks push, EVERYTHING and every problem they manifest and perpetuate causes/leads to big spending.
More wetbacks
Free healthcare for Mexico’s people
More free shit for degenerate lowlifes
Fed backed mortgage loans for ShaQuita and Guadalupe because of their skin color and not credit worthiness
Always looking to cultivate a new dependent class of citizen
The retarded pukes just can’t get out of their own way….hahaha….absolutely fascinating.
People would care about spending if taxes went up. Repubs cut taxes making more spending guaranteed.
Wouldn’t it make more sense for filthy LefTards to stop manufacturing more dependent filth for Americas best to foster?People would care about spending if taxes went up. Repubs cut taxes making more spending guaranteed.
They keep talking increases. You’ll have to link that claim.Democrats offered tax cuts in the BBB bill.
You mean like how the right wants to create more single parent families with strong anti abortion laws?Wouldn’t it make more sense for filthy LefTards to stop manufacturing more dependent filth for Americas best to foster?
What we see today has its foundation in 1913. The Federal Reserve Act, the Federal Income Tax and the 17th Amendment. Add the 19th Amendment a few years later and some time with politicians learning the ways of a Fiat Currency left unchained and here we are.You mean like how the right wants to create more single parent families with strong anti abortion laws?
Nah, I mean like how the filthy Left recruits more dark third world trash from all over the globe with a fertility rate like a cockroach.You mean like how the right wants to create more single parent families with strong anti abortion laws?
We have a worker shortage.Nah, I mean like how the filthy Left recruits more dark third world trash from all over the globe with a fertility rate like a cockroach.
They keep talking increases. You’ll have to link that claim.
I expect something more like this:
I expect something more like this:
How Biden’s $2 Trillion in Tax Increases Target Companies and the Rich (Published 2021)
The proposal to fund the president’s sprawling spending plan mostly turns up the dial on more conventional tax policies, while trying to curb maneuvers that allow tax avoidance.www.nytimes.com
Look
All this nonsense about the debt is just that.
we pay ONLY the interest on the debt and as long as we can do that there really IS no problem
At some point that could be a problem but it is so far down the road that no one can see it.
And THAT is why Republicans drive up the debt. They scream about debt knowing it's not the issue they claim. They're only using it as a tool.
I’m confident the end will be an increase. Regardless, we don’t know yet. We do know Repubs have cut taxes and drastically increased deficits.Expect what you want, he proposed tax cuts for the rich.
Also to note........
Instead of a wealth tax or a special tax on billionaires, Mr. Biden rolled out a new “surtax” on income for multimillionaires and billionaires. It would effectively raise the top tax rate on ordinary income to 45 percent for the highest earners.
The very wealthy do not make their wealth on "ordinary income".
I’m confident the end will be an increase. Regardless, we don’t know yet. We do know Repubs have cut taxes and drastically increased deficits.
