Posted on 06/17/2023 10:16:13 AM PDT by CFW
President Joe Biden has added twice as much debt in his roughly 2.5 years in the White House, compared to former President Trump over the same period.
The national debt surpassed $32 trillion Friday, reaching $32.03 trillion, according to Treasury Department data.
The national debt has increased by roughly $4.3 trillion from $27.7 trillion since Biden took office on Jan. 20, 2021.
The Democrat president had a Democratic-led House and Senate to work with until January 2023 when the GOP took the House majority.
The national debt increased $2.1 trillion from the time Trump was inaugurated on Jan. 20, 2017 to June 17, 2019 – from $19.9 trillion to $22 trillion.
(Excerpt) Read more at justthenews.com ...
I’m sure this will end well.
It is a staggering number. At least with Trump you had a roaring economy to go with it. Now we have a nation killing deficit and the economy is a dumpster fire
The deficit is a real problem and it’s serious, no one cares about it however, Republicans and Democrats alike have done nothing but run up one huge deficit after another and a few deficit hawks have been proclaiming all the doomsday scenarios that never seem to happen and now people simply don’t care about deficits.
staggering ...for sure
trillion ... with a T
I feel faint...
Who is going to buy all this debt?
Debt is destroying the U.S.A, just slowly. If the Fed wasn’t putting their thumbs on the scales, things would’ve already changed. The Fed won’t stop though, older generations will benefit, younger generations will suffer. Invest, or I should say speculate accordingly.
Debt didn’t bother Trump. Didn’t bother Reagan either. See a pattern?
The debt in th 80’s was NOT caused by Reagan. Reagan’s tax cuts increased revenue so much so that by the time he left office revenue had almost doubled!!!
It doesn't bother the voters. They loves the pork.
Revenue DOUBLED under Reagan.
What about spending?
Congress is responsible for spending.
I don’t mean it as a knock on Reagan.
The reason why you never see spending cuts is frankly, because the voters don’t want it.
Because people have been hearing the debt is going to destroy us since reagan went over a trillion. I’m sure we’ll continue hearing it at 60 trillion. You can’t keep pushing fear when nothing happens time and time again. People tune out and believes it’s political bull crap.
The voters want a balance budget which would be very easy with just holding spending flat for a decade.
Until it comes time to cut their pet program.
Exactly.
Social Security and Medicare combine to more than half of Federal Government spending. Nothing else comes close.
Those two programs need to be ended. Anybody who is not willing to work in that direction is not serious about getting the Federal Government and its spending under control.
We know how folks on this forum react to any talk about ending their precious Sosul 'Curity ... The general public is even worse.
And THAT is why America is doomed.
Yes, actually I’d say the Reagan era started the overtly activist Fed (respects to Nixon) with Greenspan turning on the printing press after Black Monday. Reagan’s debts had finally caught up to him with the crash in ‘87 caused by the rising 10 year yield. Greenspan rescued it and probably changed the legacy of Reagan, and let Wall Street know the Fed would be there for them. Trump, the King of Debt, of course demanded an activist Fed, in addition to having no problem to opening the flood gates on the fiscal side. Trump probably ended any remnants of fiscal restraint left in the GOP.
The runaway debt train is never slowing down. R's and D's hate America.
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