Replies to post #362905 on Tornado Alley (PROG)

[fuagf]

ALDACON, ...Trump and the National Debt

"If you truly want to know what blasted our debt,..."

Instead of Eliminating the Debt, Trump Will Add $5.6 Trillion

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On September 8, 2017, Trump signed a bill increasing the debt ceiling. Later that day, the debt exceeded $20 trillion for the first time in U.S. history. On February 9, 2018, Trump signed a bill suspending the debt ceiling until March 1, 2019. On March 15, 2018, the debt exceeded $21 trillion. The debt will continue to increase until the 2019 deadline. The Committee for a Responsible Federal Budget estimates it could be $22 trillion by then. If so, Trump will have overseen the fastest dollar increase in the debt in just three years.

Trump's Fiscal Year 2019 budget projects the debt would increase $8.3 trillion during his first term. That's almost as much as Obama added in two terms while fighting a recession. Trump has not fulfilled his campaign promise to cut the debt. Instead, he's done the opposite.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146795315

"If you truly want to know what blasted our debt, look no further then Obama bein in office and
running a 2 trillion dollar deficit, more than the total of all presidents prior to him."

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How the Deficit Got This Big

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The second graph shows that under Mr. Bush, tax cuts and war spending were the biggest policy drivers of the swing from projected surpluses to deficits from 2002 to 2009. Budget estimates that didn’t foresee the recessions in 2001 and in 2008 and 2009 also contributed to deficits. Mr. Obama’s policies, taken out to 2017, add to deficits, but not by nearly as much.

A few lessons can be drawn from the numbers. First, the Bush tax cuts have had a huge damaging effect. If all of them expired as scheduled at the end of 2012, future deficits would be cut by about half, to sustainable levels. Second, a healthy budget requires a healthy economy; recessions wreak havoc by reducing tax revenue. Government has to spur demand and create jobs in a deep downturn, even though doing so worsens the deficit in the short run. Third, spending cuts alone will not close the gap. The chronic revenue shortfalls from serial tax cuts are simply too deep to fill with spending cuts alone. Taxes have to go up.

July 2011 - https://investorshub.advfn.com/boards/read_msg.aspx?message_id=65593499

[Zorax]

You read and believe just what fits your misled views. The below statement is not correct. And the trickle down theory was invented by big business and billionaires like trump. It's another lie.

Vast majority of people are home because businesses can't operate because of people like you not wearing your mask or taking the virus seriously. It can't happen to me mentality.

Also the top 3% of income earners pay over 70% of our taxes.

[SoxFan]

I looked what you posted and you are full of fecal matter and understand nothing about our national debt. You parrot the idiocy that Obama raised the debt because it went up significantly while he was in office because you and your unintelligent ilk have no clue how our government functions. Raygun almost tripled the National debt when he was office to close to 3 trillion while HW Bush got it to 4+ trillion. Then came Clinton who at the end of his term had a budget surplus with National Debt close to 5.6 trillion. Then came W and his tax cuts Plus (3-4 trillion over decade) programs that were not paid for like Medicare Part D (4 trillion over ten years and not negotiating for lowest drug prices), his wars (another 5 trillion conservative estimate). Now W had a Republican Senate and House most of his early years when he did his real damage. He handed off to Obama after 2009 a debt of almost 12 Trillion PLUS ongoing wars, Medicare part D still not funded, tax cuts that still did not pay for itself, oh and ECONOMIC collapse. Obama had 60 days of a filibuster proof Senate before he lost that two years later lost the house and later the Senate. What programs did Obama pass that added trillions to the Budget? Your hero Trump with his tax cuts and trade wars have added 6 Trillion through Q2 of 2020.