Posted on 08/28/2019 12:45:49 PM PDT by ChicagoConservative27
Lie. When Obama took office, the ratio of public debt to GDP was less than 40%. When he left office, it was more than 76%. Now it’s a little bit more than 78%.
Every president has that problem.
But, during the 'O' years there was no budgets, only continuing spending resolutions.
Then it should be easier for the Republicans to cut spending.
That’s how I see it as well. I’ve also said that, though I love trump, our deficit problem is beyond human intervention. All trump or any other future president can do is ride this bronco out along with the rest of us. We jumped off this cliff decades ago, and it’s gonna hurt when we hit the rocks below. All any president can do is put off the inevitable as long as possible.
hasn’t he tried and is continually blocked by ALL of Congress?
[ This is CNN. They are FAKE NEWS and lies.]
YES
I hate using GDP as a reliable metric. About 1/3 of GDP is government spending.
That'd be like me saying, "My spending on my hot rods and boats ain't so bad relative to how much I put on credit."
As long as we have to maintain a huge military, and as long as we have to pay for the huge social programs WHICH THE DEMOCRATS created (with the help of many republicans), the deficits will not decrease by meaningful amounts, and the federal debt will continue to balloon.
In other words, the deficits and national debt could be considered “legacy spending” numbers, since, they ain’t going away any time soon, and Trump had very little to do with their increased sizes.
You said:That’s on Congress, not on Trump.
True, but Trump choked. Twice.
“Tea Party Republicans once railed against President Barack Obama’s spending habits. As the deficit has grown under Trump, however, they’ve suddenly changed their tune. “
We haven’t “changed our tune.” The path to a reduced deficit is cutting waste—something President Trump is for but requires the cooperation of a willing Congress.
The biggest thing we need to change is borrowing to hand out charity. Charity is a religious duty, not the Constitutional role of our federal government. For the left, their political ideology is a religion. But they do not want to follow the prohibition against Congress establishing a religion. No, they are always willing to dig deep (into America’s pocket) for every cause under the sun.
I agree with you. I was just noting the lie that deficit is ballooning.
BLAME RYAN AND THE RINOS!!!!!!!!!!!!!!!!!!!!!!
Bill Clinton didn’t lead that. Newt Gingrich did. Clinton was along for the ride, and that’s about all.
People give the guy too much credit.
President Trump has tried to get Congress to stop government spending, to no avail as Congress controls the budget.
Oh OK, from previous threads on it, it sounded like they were moving half of USDA to KC, then I also read that of those affected half were quitting.
Yup. The spending is on the congress. Tax receipts are actually increasing with more people working.
Unfortunate this is wrong, tax receipts dropped a small amount in 2018, the first year with the tax reform in effect. It was largely due to a big drop in corporate tax revenue, and somewhat offset by an increase in tariffs. Income tax revenue also dropped slightly. Combined with a boost in spending, and we have increased debt and deficit.
When he came into office, obama inherited a Bush standoff on the budget. W was holding out for cuts. obama accepted every last cent in the first (and only budget) during his administration. Next, he rushed through a $700 billion stimulus. Why the rush.
Because the fiscal year runs from October through September. As long as obama allocated the spending before September 30, the dollars would count against W’s last budget year. So obama artificially inflated the Bush deficit by $900 billion in order to pretend to “cut” the deficit.
“We jumped off this cliff decades ago, and it’s gonna hurt when we hit the rocks below. “
My wife and I want to retire now, we are in our late 50’s. Our CFP said we can go to age 100 no problem with our current finances.
We both feel a major collapse is coming. Make 2008 look like child’s play and what we have would be eaten up in 10 years.
We are both healthy so we continue working.
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