Nope. It is the spending. Congress refuses to cut spending and we keep printing more and more dollars.
Happened under Reagan also, and Reagan always got dinged for
raising the nation’s debt.
Trump has also.
Congress is way way way out of control.
As we have all known for years, spending not revenue is the problem, well everyone but politicians addicted to buying their positions with taxpayer dollars and borrowing
Gigantic multi-thousand page spending bills are the problem. Spending that is worthwhile and justified is mixed in with wasteful spending for politicians’ pet projects and political agendas, and the threat of a “government shutdown” is used every year to move these behemoth spending bills along to the president’s desk.
The whole process is broken, and most people in Congress are perfectly fine with keeping it that way.
Same happened when JFK cut tax rates, tax revenues increased.
.
Ping
later
bttt