National debt
- Thread starter Bethboilerfan
- Start date
Debt seems to only matter if a D is POTUS, if it’s an R, tax cuts are all that matters, debt be damned. Rinse, repeat.
Same thing goes for Ds if an R is President. Ds never seem care about the debt, except when Clinton addressed it.
Where were you when Obama ballooned the debt from ~$10B to ~$20B? Oh, that's right, he HAD to increase the debt in order to get the country out of recession.
The interest on this debt is consuming too much of the budget. I really wish they had not given a tax cut -to me or anyone else- when the national debt is at this level.
They just glide right over this statement. Clinton way better than Obama. Now if all these Dem candidates would realize healthcare cannot be paid by the government and quit saying the top 10 percent need to pay for everything, Trump has done a good job, but he is an arrogant ass, then you got a candidate.
Didn’t Trump claim he cared about the debt? Or was that just another lie? Pretty sure it was just another lie.
I can’t wait until Trump is gone so we never have to hear another lie from a politician. Oh wait. We now have Cortez. LOL
Obama NEVER reduced the deficit. At best he reduced the pace of his record setting deficit increases.
Year Deficit (B) Debt Increase %GDP Notes
2012 $1,087 $1,276 6.7% Fiscal cliff.
2013 $679 $672 4.0% Sequester. Government shutdown.
2014 $485 $1,086 2.7% Debt ceiling.
2015 $438 $327 2.4% Defense = $736.4 b.
2016 $585 $1,423 3.1% Defense = $767.3 b
The deficit was definitely reduced under Obama. But again, that had little to do with Obama, as the fiscal health of this country has little to do with the President in any event. Or perhaps you're confusing "deficit" with "debt". The national debt hasn't decreased since 1957.
https://www.thebalance.com/us-deficit-by-year-3306306
So your numbers agree. And I stand corrected I meant debt.
The deficit would be the increase or decrease of the debt accumulation.
He slowed the increase of his record setting debt accumulation.
Than he increased that rate of debt accumulation again.
The net result, he doubled the national debt.
Trump has increased revenue so the POTUS can play a part in the reduction of debt. The problem is spending. I see you paid particular attention to military spending. I'd like to have the time to investigate some of the increase social program spending Trump inherited. Obama care isn't free.
Kinda missed the part where it’s not about the president. Congress controls the purse strings.
The national debt is not actually a real problem and is mostly used as an ideological weapon by the wealthy to protect their ill gotten wealth.
You will notice no one in government or the media worried about the debt or the deficit when it comes to spending nearly a trillion dollars a year on “defense”. The deficit hawks only come out when we start talking about spending on things that directly benefit regular people. Social security, Medicare, SNAP, environmental protection, etc.
You will notice no one in government or the media worried about the debt or the deficit when it comes to spending nearly a trillion dollars a year on “defense”. The deficit hawks only come out when we start talking about spending on things that directly benefit regular people. Social security, Medicare, SNAP, environmental protection, etc.
The national debt is not really a problem.......because our elected officials or the media don't worry about it or mention it? Is that what you're saying? I'm not denying no one is dealing with it.......but does that make it less of a problem? If so, that might be the dumbest shit I've read on this board.
What could we do with the $400 billion we spend in interest every year? Maybe solve some of the issues you rant about all the time?
It’s not a real problem because the American economy has the capacity to outgrow the debt, and also has complete control over its money supply. The US government can also raise revenue at will.
When I say the debt/deficit is not a real problem, I don’t mean you can cut taxes to 0 and spend to your hearts content, I just mean the amount you actually have to do to deal with it is so insignifant that there’s really no point bogging yourself down in it when doing long term economic planning. As I said before, there is a reason the pentagon and the “defense” industry doesn’t engage in this handwringing about the deficit, and there’s a reason the wealthy didn’t either when the republicans passed their tax cuts bill. They know deficits aren’t a long term fiscal problem, and they know that most Americans don’t know this.
Debt and deficit are far different things.
If you say the debt is not a real problem you need to just sit this one out.
You rail against military spending yet in a few years the interest on the debt will match military spending.
NOBODY talks about the debt anymore because fixing it means they won't get re-elected.
Outgrow the debt? lol. GTFOH.
What recession was the country in when Trump took office again? I missed that one apparently.
So a $10T increase in 8 years is a-ok. OK, got it. And what would have happened if Obamacare hadn't been denuded by the Rs? When did that bomb kick in?
This is incredibly misleading. I'm 99% sure this does not account for the actions of the federal reserve at the time - Bernanke's 4T gamble with the American public.
omg, not another idiot. What has monetary policies got to do with national debt. just crawl back into whatever stupid hole you came from.
where where you when debt trippled under Raegan, and pretty much nearly doubled under GWB. and will definitely double if Trump did 8 years and there's a recession in there somewhere.
do you know what an interest rate is? You're a ****ing nitwit. How is our debt funded? MORON.
sure..
adding 10T debt to a 20T economy
adding 2T debt to a 3.5T economy
seems the latter is worse to me. but what do I know
what ARE you rambling about? And if you want to be completely honest, what was the GDP Reagan's LAST year in office, since you see fit to make up numbers for obama?
2007 14,477.6 47,955 1.8 % 2.9 % 4.6 % −0.8 % 64.6 % −4.9 %
2008 14,718.6 48,302 −0.3 % 3.8 % 5.8 % −4.6 % 73.7 % −4.6 %
2009 14,418.7 46,909 −2.8 % −0.3 % 9.3 % −11.2 % 87.0 % −2.6 %
2010 14,964.4 48,311 2.5 % 1.6 % 9.6 % −8.9 % 95.7 % −2.9 %
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You must be a "new math" major, because $10T > $1.5T every day of the week and twice on Sundays.
Shocking absolutely no one, your understanding of Obamacare is extremely lacking.
from an article:
The amount of money the federal government takes in isn't keeping up with the amount it spends. Revenues are projected to rise from $3.5 trillion in 2019 to nearly $5.7 trillion in 2029. But expenditures will rise faster, from $4.4 trillion in 2019 to $7 trillion in 2029.
The biggest culprit is mandatory spending—most notably, Social Security and Medicare—which is projected to rise by about $1.9 trillion from 2019 to 2029. "The aging of the population and the rising cost of health care contribute significantly to the growth in spending for major benefit programs," the report says. Yearly Social Security spending is projected to rise from roughly $1 trillion to $1.9 trillion over the next decade. Medicare spending will nearly double, rising from $768 billion to $1.5 trillion in 2029.
This sort of spending is not sustainable. Both programs will be insolvent within the next 15 years unless major changes are made.
*end article
This is what happens when you let the government "manage" programs that congress has to make decisions about. They are just incompetent. They don't review and adjust assumptions. There's no incentive to save money or adjust benefits and expenses. It's a joke and a waste and utterly out of control.
Been that way for the last 4 decades or more. It's time to change the old GOP narrative.
https://www.alternet.org/2018/02/two-santa-clauses-or-how-gop-conned-america-nearly-40-years/
