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Deficits Don't Matter... again
https://www.businessinsider.com/us-government-to-spend-more-on-debt-than-on-military-within-a-decade-2018-9Next year, the deficit is expected to reach nearly $1 trillion, the first time it has been that large since 2012, when the US was still recovering from the financial crisis and rates were near zero.
In February, a bill was approved to raise federal spending by $300 billion over 3 years, which will further increase the financial burden. The Congressional Budget Office said that interest payments on the national debt are expected to triple over the next decade.
And Washington Republicans introduced legislation this month that would make the tax cuts permanent.
"The issue has just disappeared," Senator Mark Warner, a Virginia Democrat, told the Times. "There's collective amnesia."
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Comments
High five?
Also like how it was beach buddies advising her
Making libs cry is the only thing that matters
Guess Obama wants to add to his 10 trillion
The difference is Obama took a $1.5 trillion deficit and turned it into $500 billion. Trump is taking a $500 billion and turning it into over a trillion.
And I'm sure you never ever complained about the deficit under Obama. What's the difference now?
No politician will cut spending. At least Democrats are up front about it. The people you vote for blatantly lie about it and say they will cut spending. Then they just spend spend spend. Just like Democrats do.
FYI the rest of the world will still pay us to take loans out at rates that are below inflation. It's quite literally because we want to prevent higher inflation that we are raising interest rates.
If you don't understand why you should take out ANY loan that has an interest rate lower than inflation you probably shouldn't be worrying about the national debt.
https://nytimes.com/2018/09/26/us/politics/federal-reserve-raises-interest-rates.html
https://data.oecd.org/gga/general-government-deficit.htm#indicator-chart
but, sure
It isn’t conservatives that have created a culture of economic ignorance and hypocrisy. The entire dem agenda is to spend more money – a lot of money. They would start with the government takeover of all healthcare and add a few more tens of trillions to the deficit. Our public school system K-12 and our colleges and universities promote economic illiteracy and are proud of it. Teaching socialism is akin to teaching a flat earth. Big surprise that the low information voter and “independents” are attracted to the promise of free sh*t and vote for it. Then you have supposed Republicans supporting crony capitalism like the ethanol scam and the hundreds of billions of wasted tax dollars on federal intervention into the state and local public education process. Did we get an educated public out of that money? Nope we got barry and Bernie and Alexandria Ocasio-Cortez. The US Congress is the result of who the people vote for. If we want spending controlled, then we need to elect a congress that wants to control spending. That isn’t what the people want and certainly not any democrat.
So, I support a spending freeze. You leftards who are now whining about a deficit that you don’t really give a sh*t about don’t because your education failed you and you are proudly ignorant.
This is a straightforward test for “deficit hawks”: do they care about this issue no matter who’s in the White House? Are they as quick to denounce borrowing when it’s tax cuts for the wealthy on the line as they are when Democrats are pushing domestic investments?
For much of the congressional GOP, the answer to both questions is no. For the party en masse, there’s no consistency, no guiding principles, and no real effort to explain why their interest shifts with the winds.
Reagan
Started Presidency: $965 billion
Ended Presidency: $2.74 trillion
Increased 184% or 13.9% per year
H.W. Bush
Started Presidency: $2.74 trillion
Ended Presidency: $4.23 trillion
Increased 54% or 11.5% per year (only in office for four years)
Clinton
Started Presidency: $4.23 trillion
Ended Presidency: $5.77 trillion
Increased 36% or 4.0% per year
W. Bush
Started Presidency: $5.77 trillion
Ended Presidency: $11.1 trillion
Increased 93% or 8.5% per year
Obama
Started Presidency: $11.1 trillion
Ended Presidency: $19.85 trillion
Increased 78% or 7.5% per year
President Obama’s debt actually grew at a slower annual rate than any of the Republican presidents even though there were events that negatively impacted the deficit that started before he became President. The Great Recession is probably the biggest of them as can be seen in the yearly deficit numbers. While all politicians use data to support their positions, the sound bite that the debt doubled under Obama is very misleading.
https://www.forbes.com/sites/chuckjones/2018/01/15/obamas-federal-debt-grew-at-a-slower-rate-than-reagan-h-w-bush-or-w-bush/
But you know, libtards, demonrats. Boo!