The Banker
Diamond Member
- Banned
- #1
2016 US annual budget deficit: $586B
2020 US annual Budget deficit $3.1 T
Bush inherited a balanced budget and then passed trillions in spending and tax cuts in early 2001, started 2 failed mismanaged wars, then blew up the economy and passed off total financial ruin with mega deficits.
But there's more
Both GWBush and Trump steadily increased the deficit every month of their presidencies, non stop increases in deficits and spending all throughout their presidencies. Endless debt all throughout
BUT
Clinton, Obama, and Biden all inherited mega massive deficits from their predecessor's total failures and all 3 lowered those deficits, Clinton has a surpluss, Obama brought it down to $587B and Biden has dropped the deficit by $1T.
The out of control US deficit is a direct result of excessive Bush and Trump spending and tax cuts that did little to boost economic growth. Both Bush and Trump had weak low GDP growth, Trump never even had 3% growth annually. (And lets not forget Reagan's mega deficits that started all of this)
This is all 100% FACT, this is FACT, this is fact, these are the numbers. FACTS !!!!!!
www.propublica.org
www.manhattan-institute.org
2020 US annual Budget deficit $3.1 T
Bush inherited a balanced budget and then passed trillions in spending and tax cuts in early 2001, started 2 failed mismanaged wars, then blew up the economy and passed off total financial ruin with mega deficits.
But there's more
Both GWBush and Trump steadily increased the deficit every month of their presidencies, non stop increases in deficits and spending all throughout their presidencies. Endless debt all throughout
BUT
Clinton, Obama, and Biden all inherited mega massive deficits from their predecessor's total failures and all 3 lowered those deficits, Clinton has a surpluss, Obama brought it down to $587B and Biden has dropped the deficit by $1T.
The out of control US deficit is a direct result of excessive Bush and Trump spending and tax cuts that did little to boost economic growth. Both Bush and Trump had weak low GDP growth, Trump never even had 3% growth annually. (And lets not forget Reagan's mega deficits that started all of this)
This is all 100% FACT, this is FACT, this is fact, these are the numbers. FACTS !!!!!!
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 Fiscal Legacy: A Comprehensive Overview of Spending, Taxes, and Deficits
Trump missed opportunities to address entitlement spending, contended with unprecedented pandemic.
www.manhattan-institute.org
Getting the Facts Straight | Center on Budget and Policy Priorities
Some of President Obama’s critics and political opponents have launched a line of argument that Obama is mostly to blame for the large federal budget deficits projected for the coming decade and...
www.cbpp.org
