In new Budget, Biden to Lower US Debt by $3T, After Trump had Record 4 yr Debt

[multivita-man]

I’m for lowering the age of SS

No.

and eliminating the war department and all the intelligence agencies.

And no.

 

[Papageorgio]

No.



And no.

Great intelligent and thoughtful reasons, it must of put your brain on overload to come up with such great responses.

 

[Winston]

Obama's policies resulted in the weakest recovery in history.
He was so bad, the dems lost 63 seats (holy shit!!!) in the House in 2010.

While you can make the claim that Obama's recovery was the weakest, to claim it was his policies would be attributing causation to correlation. I took a cursory look at the numbers and my suspicion is that each new recession begats a recovery with a lower increase in GDP than previous recoveries with 2021 being an outlier. You can probably attribute that to the ACA, for real. Carter had a better recovery than Reagan, Eisenhower had a better recovery than Carter. Truman had a better recovery than Eisenhower, are you starting to get the picture?

These lackluster recoveries are due to inherencies in our system. For instance, the Lorentz curve has continued to steepen, the rich or richer, the poor are poorer, and that has a dampening effect on economic recoveries. Until we make some fundamental changes in the very dynamics of our economic system, from how we tax income to how we deliver health care, you can continue to expect less than stellar recoveries.

 

[Winston]

I’m for lowering the age of SS and eliminating the war department and all the intelligence agencies.

No, we should bump up the age of full retirement to 70 but allow those 55 and older to buy-in to Medicare. Eliminate the cap on income subject to Social Security and means test it. Problem solved.

 

[Markle]

WHat was trump deficit in 2020??

 

[Markle]

what are you drunk already??

Nice rant loser, you must be a big hit at parties, clearly you have a lot of issues.

Trump annual deficit in 2020: $3.1T
Biden annual deficit in 2023: $1.3T

Facts and numbers say it all, Biden is outperforming Trump yet again.

 

[BackAgain]

When Trump took over as president the US had a low $587B annual deficit, in 4 short years Trump 5x that to $3.1T and Trump had 25% of total US debt in his 4 short years.

Meanwhile Biden has lowered the $3.1T annual Trump deficit to just $1.3 T, and he looks to lower it more !!!

In Biden's new Budget he outlines drug price negotiation with medicare that are expected to save $150+ B (republicans are against this because they are "paid off" by drug companies for real though). He also has a minimum tax on billionaires which says all billionaires will pay at least 25% on their income, because many billionaires pay and extremely low tax rate.

These 2 simple measure, bit of which the GOP are strongly against, will reduce the Trump debt substantially and do nothing to hurt or slow the economy at all. Of course something this good and smart and beneficial has GOP opposition.

Biden budget would cut deficit by $3 trillion over next decade with 25% minimum tax on richest Americans

Biden proposes to impose a minimum tax of 25% on the rich, hike taxes on oil and gas companies and raise the corporate tax rate from 21% to 28%.

www.cnbc.com

It’s not the new budget. It’s the dead on arrival fake proposed budget. But you know that.

 

[Markle]

much better than what Bush and Trump did

This is what is so laughable about you partisan hacks. You whine and cry when a Dem does something not great, but not that bad, then you turb a blind eye and lie and make pathetic excuses when a republican does worse.

Its laughable. We have constant GOP fuck ups and wars and debt and failure and economic blow ups and recessions (11 of last 12 recessions under GOP pres) and you act like those things didn't happen, then you whine and cry when a Dem does something way less bad. This pattern has repeated itself for the past 100 years

 

[BackAgain]

Great intelligent and thoughtful reasons, it must of put your brain on overload to come up with such great responses.

In fairness, we don’t have a war department.

 

[BackAgain]

You must mean modern America. “Liberals.”

 

[Toddsterpatriot]

While you can make the claim that Obama's recovery was the weakest, to claim it was his policies would be attributing causation to correlation. I took a cursory look at the numbers and my suspicion is that each new recession begats a recovery with a lower increase in GDP than previous recoveries with 2021 being an outlier. You can probably attribute that to the ACA, for real. Carter had a better recovery than Reagan, Eisenhower had a better recovery than Carter. Truman had a better recovery than Eisenhower, are you starting to get the picture?

These lackluster recoveries are due to inherencies in our system. For instance, the Lorentz curve has continued to steepen, the rich or richer, the poor are poorer, and that has a dampening effect on economic recoveries. Until we make some fundamental changes in the very dynamics of our economic system, from how we tax income to how we deliver health care, you can continue to expect less than stellar recoveries.

While you can make the claim that Obama's recovery was the weakest

Not a claim, a fact.

These lackluster recoveries are due to inherencies in our system.

Larger and larger government?

 

[jc456]

When Trump took over as president the US had a low $587B annual deficit, in 4 short years Trump 5x that to $3.1T and Trump had 25% of total US debt in his 4 short years.

Meanwhile Biden has lowered the $3.1T annual Trump deficit to just $1.3 T, and he looks to lower it more !!!

In Biden's new Budget he outlines drug price negotiation with medicare that are expected to save $150+ B (republicans are against this because they are "paid off" by drug companies for real though). He also has a minimum tax on billionaires which says all billionaires will pay at least 25% on their income, because many billionaires pay and extremely low tax rate.

These 2 simple measure, bit of which the GOP are strongly against, will reduce the Trump debt substantially and do nothing to hurt or slow the economy at all. Of course something this good and smart and beneficial has GOP opposition.

Biden budget would cut deficit by $3 trillion over next decade with 25% minimum tax on richest Americans

Biden proposes to impose a minimum tax of 25% on the rich, hike taxes on oil and gas companies and raise the corporate tax rate from 21% to 28%.

www.cnbc.com

Hahaha hahaha were you laughing when you typed it?

 

[Nostra]

Still waiting for those spending cuts The Banker

What is Veggie Joe spending less on?

 

[Papageorgio]

Not so good as they say.

Economists agree that we needed massive deficit spending during the COVID-19 crisis to ward off an economic cataclysm, but federal finances under Trump had become dire even before the pandemic. That happened even though the economy was booming and unemployment was at historically low levels. By the Trump administration’s own description, the pre-pandemic national debt level was already a “crisis” and a “grave threat.”

The combination of Trump’s 2017 tax cut and the lack of any serious spending restraint helped both the deficit and the debt soar. So when the once-in-a-lifetime viral disaster slammed our country and we threw more than $3 trillion into COVID-19-related stimulus, there was no longer any margin for error.

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years

The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.

www.propublica.org

Trump's taxcuts, especially the corporate tax cut were helluva stupid. I mean Trump ranks number three all time, in deficits to GDP. Number two is Bush Jr, and yep, his damn tax cut is to blame. Number one is Lincoln, OK, another Republican, but hell, at least he had a Civil War to fight. And even Bush Jr. had a war, on two fronts, to fight. What the hell did Trump have?

Look, it is starting to be like a broken damn record. Or Groundhog day all over again. Republicans swoop into office with an economy humming along, revenues suddenly actually matching expenditures, or close to it. And what do they do? Cry me a damn river about the debt, they don't give two shits about the debt, and yes, there is a reason for that. But nope, they want to cut taxes, give the people back the money. And then, right after they do, SHIT HAPPENS. The twin towers and 9/11, the Covid pandemic, they piss away the emergency fund right before there is a damn emergency. You call that leadership?

Nope, this time, Republicans have gone too far. The Freedom caucus, holding increasing the debt limit hostage to stop "Woke" policies. Are you flippin kidding me? I am predicting, right now, that Republicans will lose the house, not gain majority in the Senate, and the Democrat nominee, rather it is Biden or Joe Blow, will win in a landslide because you guys are helluva STUPID.

Pro republica? Yeah I trust them as much as I trust Brietbart.

 

[Papageorgio]

STFU, you are one stupid asshole. In every variable, Biden's proposed budget is better than Trump's in 2020. And it don't take that much intelligence to figure it out. Pull your damn tiny little head out of your big ass and smell the damn coffee. Otherwise, STFU like I said, you are the problem. Not Biden, not Trump, but YOU, you stupid shit.

The best thing about Biden’s push in 2021 is two smart Democrats put a halt to $6.1 trillion in spending otherwise inflation would have gotten worse and would be twice as high as it had been.

 

[Nostra]

This thread went down in flames in a hurry.

 

[badbob85037]

When Trump took over as president the US had a low $587B annual deficit, in 4 short years Trump 5x that to $3.1T and Trump had 25% of total US debt in his 4 short years.

Meanwhile Biden has lowered the $3.1T annual Trump deficit to just $1.3 T, and he looks to lower it more !!!

In Biden's new Budget he outlines drug price negotiation with medicare that are expected to save $150+ B (republicans are against this because they are "paid off" by drug companies for real though). He also has a minimum tax on billionaires which says all billionaires will pay at least 25% on their income, because many billionaires pay and extremely low tax rate.

These 2 simple measure, bit of which the GOP are strongly against, will reduce the Trump debt substantially and do nothing to hurt or slow the economy at all. Of course something this good and smart and beneficial has GOP opposition.

Biden budget would cut deficit by $3 trillion over next decade with 25% minimum tax on richest Americans

Biden proposes to impose a minimum tax of 25% on the rich, hike taxes on oil and gas companies and raise the corporate tax rate from 21% to 28%.

www.cnbc.com

 

[Aldo Raine]

Didn't Biden just get his 2.1 TRILLION spending Bill at the end of 2019?
Now how much is this going to cost?

inflation, inflation inflation

Uhm, exactly who was in the Whitehouse in 2019?

 

[Nostra]

When Trump took over as president the US had a low $587B annual deficit, in 4 short years Trump 5x that to $3.1T and Trump had 25% of total US debt in his 4 short years.

Meanwhile Biden has lowered the $3.1T annual Trump deficit to just $1.3 T, and he looks to lower it more !!!

In Biden's new Budget he outlines drug price negotiation with medicare that are expected to save $150+ B (republicans are against this because they are "paid off" by drug companies for real though). He also has a minimum tax on billionaires which says all billionaires will pay at least 25% on their income, because many billionaires pay and extremely low tax rate.

These 2 simple measure, bit of which the GOP are strongly against, will reduce the Trump debt substantially and do nothing to hurt or slow the economy at all. Of course something this good and smart and beneficial has GOP opposition.

Biden budget would cut deficit by $3 trillion over next decade with 25% minimum tax on richest Americans

Biden proposes to impose a minimum tax of 25% on the rich, hike taxes on oil and gas companies and raise the corporate tax rate from 21% to 28%.

www.cnbc.com

Debt is way up under Tater, so how did he lower it by $3 TRILLION, SIMP.

 

[Stormy Daniels]

not true, they can lower the future debt, which is exactly what Biden is doing with his plan as the future US debt will now be lower.

No, that's just wrong. Since that future debt does not exist until deficit spending occurs, debt cannot be preemptively lowered simply with less deficit spending.

What your saying would be like eating 10 donuts a day and gaining 30 lbs in two months equals losing weight because you first planned to eat 12 a day.

Now, it's theoretically possible to decrease the debt while spending at a deficit if the economy is growing sufficiently to outpace the increase of debt. But that takes huge growth, marginal deficits, and lots of time. Not applicable here.