The Obama/Biden/Harris Economic Model: Spend Trillions, Borrow Trillions, Hire Gov’t Workers (Hand Our Grandchildren The HUGE Bill)

Confounded Interest ^ | October 12, 2024

[george76]

There have been to significant jumps in the Federal Debt. The first coming after the financial crisis of 2008 and election of Obama/Biden in 2008. The second with the outbreak of Covid in 2020 and the election of Biden/Harris in 2021.

The Federal (public) debt was just over $10 million when Obama/Biden were elected and it now stands at a staggering $35.7 trillion. That represents over a tripling of the Federal debt under Obama/Biden/Harris. So when asked what she would do diffeerent than Biden, Harris replied “Nothing comes to mind.” That means MORE spending, MORE debt and MORE unproductive Government jobs.

Here is a chart of public debt and GDP under the triumvirate of Obama, Biden and Harris. No, not Julius Caesar, Pompey, and Crassus). But it is feeling like the Roman Empire prior to its collapse.

Here is a chart of government jobs and government expenditures. Great for government workers, bad for everyone else.

Of course, SOMEBODY has to pay the growing gov’t debt burden. Rest assured it won’t be Obama/Biden/Harris.

[logi_cal869]

The author totally omitted “importing millions of illegals to destroy the middle class.”

This is not ‘news’: They told us what they were going to do years ago.

Not only were we too stupid to believe it possible, but our true enemies also walk among us (those voting in support of this in 3 weeks).

[MacNaughton]

[george76]

Thank you

[bigbob]

Wrong. As long as the dollar remains the global reserve currency, no one has to pay anything back.

[citizen]

"The national debt might be funded by a 6% value added tax to be paid by corporations."

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That's what the liberal pols would say, beforehand.

Then they'd spend that and more, too.

So we'd have damaged corporations, a weaker economy and more debt, too.

[citizen]

So.....Give us a number. How much longer do you think the dollar will remain the global reserve currency? The petrodollar prop is rapidly weakening.

Reserve currencys are always suplanted, eventually. The currency holder overspends and inflates it into unusability.

[x]

True, but if Trump keeps promising tax cuts, that’s not going to help the deficit either.

[george76]

Laffer curve..

High tax Rates often result in lower tax Revenue..

Lower tax Rates often result in higher tax Revenue..