Natural Citizen
American Made
- Aug 8, 2016
- 27,512
- 27,024
- 2,445
Clearly, the two party system has failed America.
U.S. Senator Ted Cruz addresses the Republican Party’s position on the national debt and deficits.
''During his 2016 presidential campaign, Donald Trump — even though he had dubbed himself “the king of debt” — promised to slash the mounting national debt until it was completely eliminated within eight years. Four years on, how’s that going? Not well.
Turns out the U.S. government, due in part to the coronavirus pandemic, ran a record budget deficit of $3.1 trillion in the fiscal year that ended in September. The deficit, which is the gap between what the U.S. spends and what it earns through tax receipts and other revenue, came to $2 trillion more than what the White House had forecast earlier in the year.
By comparison, the deficit in 2019 totaled $984 billion.
The cumulative effect of running up the deficit year after year, including 2020’s spike, has resulted in a national debt of more than $27 trillion, up from less than $20 trillion when Trump took office.''
Continued...
U.S. Senator Ted Cruz addresses the Republican Party’s position on the national debt and deficits.
''During his 2016 presidential campaign, Donald Trump — even though he had dubbed himself “the king of debt” — promised to slash the mounting national debt until it was completely eliminated within eight years. Four years on, how’s that going? Not well.
Turns out the U.S. government, due in part to the coronavirus pandemic, ran a record budget deficit of $3.1 trillion in the fiscal year that ended in September. The deficit, which is the gap between what the U.S. spends and what it earns through tax receipts and other revenue, came to $2 trillion more than what the White House had forecast earlier in the year.
By comparison, the deficit in 2019 totaled $984 billion.
The cumulative effect of running up the deficit year after year, including 2020’s spike, has resulted in a national debt of more than $27 trillion, up from less than $20 trillion when Trump took office.''
Continued...
Ted Cruz is asked why national debt is paramount to Republicans only when a Democrat is in the White House
During his 2016 presidential campaign, Donald Trump, who previously dubbed himself "the king of debt," promised to slash the mounting national debt until it...
www.marketwatch.com