The U.S. national debt exceeded $33 trillion for the first time ever

[QP!]

This is the basic TRUTH and FACTS, Republi'cans' do not want to accept...

GOP Presidents Have Been the Worst Contributors to the Federal Debt

Republican presidents have added far more to federal debt levels than Democrats, as a percent of GDP....

"Reagan took the deficit from $70 billion to $175 billion. Bush 41 took it to $300 billion. Clinton got it to zero. Bush 43 took it from zero to $1.2 trillion. Obama halved it to $600 billion. Trump’s got it back to a trillion."

...
- "(President Ronald) Reagan took the deficit from 70 billion to 175 billion." This is more or less accurate. The federal deficit went from about $78.9 billion at the beginning of Reagan’s presidency to $152.6 billion at the end of it. At points between 1983 and 1986, the deficit was actually more than $175 billion.

- "(George H.W.) Bush 41 took it to 300 billion." Close, but not exactly. The number was around $255 billion at the end of Bush’s term. The deficit spiked at around $290.3 billion the year before he left office.

- "(Bill) Clinton got it to zero." This is true. During his presidency, Clinton managed to zero out the deficit and end his term with a $128.2 billion surplus.

- "(George W.) Bush 43 took it from 0 to 1.2 trillion." This is in the ballpark. Ignoring the fact that he actually started his presidency with a surplus, Bush left office in 2009 with a federal deficit of roughly $1.41 trillion.

- "(Barack) Obama halved it to 600 billion." This is essentially accurate. Obama left the presidency with a deficit of approximately $584.6 billion, which is more than halving $1.41 trillion. The deficit was even lower in 2015 at around $441.9 billion.

- "Trump’s got it back to a trillion." A Treasury Department statement from June put the federal deficit at about $747.1 billion so far this fiscal year. But the agency also reported that Washington is on track to post a $1.1 trillion deficit by the end of September, which backs up Cole’s claim...

Which party adds more to deficits?
Hint: it’s the Republicans

While Republicans often claim that they are the more fiscally responsible party, my research suggests otherwise. Compared to Democratic presidents, Republicans are estimated to add between 0.75% and 1.2% more to the deficit (as a percent of GDP) each year they are in office. This result controls for economic conditions, and explains 75% of the variation in the annual changes to deficits....

And for the Trumptard Republi'cans' who put their FEELINGS over these facts just remember...

 

[Kamala Trump]

This is the basic TRUTH and FACTS, Republi'cans' do not want to accept...







And for the Trumptard Republi'cans' who put their FEELINGS over these facts just remember...

what's wrong with debt?

it's all fake money anyways.....

 

[LV426]

Always comical when today’s leftists start talking about the national debt or start pretending that they have something intelligent to contribute on the subject of economics.

We could have paid the entire national debt off by 2010 if you stupid Conservative dipshits hadn't passed tax cuts in 2001.

 

[LV426]

Conservatism is generally capitalist, not socialist.

Conservatism is fascism...always has been, always will be.

Conservatives sided with slaveholders, Nazis, segregationists, the KKK, and Putin's Russia.

Conservatives opposed abolition, opposed desegregation, and opposed Civil Rights.

Conservatives have never produced a policy that did any good for the country.

Never.

Not once.

Not ever.

There has never been a successful Conservative policy in the history of the dogma. The reason is because Conservatism has no merits so nothing good can ever come from it.

 

[Into the Night]

This is the basic TRUTH and FACTS, Republi'cans' do not want to accept...







And for the Trumptard Republi'cans' who put their FEELINGS over these facts just remember...

Not facts. Just mindless chanting. Learn what 'fact' means. It does NOT mean 'Universal Truth'.

 

[Into the Night]

what's wrong with debt?

it's all fake money anyways.....

Fake money.

 

[Into the Night]

We could have paid the entire national debt off by 2010 if you stupid Conservative dipshits hadn't passed tax cuts in 2001.

Tax cuts did not cause the debt.

The government cannot pay the debt.

 

[Into the Night]

Conservatism is fascism...always has been, always will be.

Conservatives sided with slaveholders, Nazis, segregationists, the KKK, and Putin's Russia.

Conservatives opposed abolition, opposed desegregation, and opposed Civil Rights.

Conservatives have never produced a policy that did any good for the country.

Never.

Not once.

Not ever.

There has never been a successful Conservative policy in the history of the dogma. The reason is because Conservatism has no merits so nothing good can ever come from it.

Redefinition fallacy (capitalism<->fascism).
The DEMOCRATS created the KKK and continue to fund and support it.
The DEMOCRATS fought for slavery and still want to implement it.
The Nazis were fascists, like DEMOCRATS.
Putin is a communist, like DEMOCRATS.
DEMOCRATS opposed civil rights.

 

[LV426]

Tax cuts did not cause the debt.

Yes they did. They reduced revenue for four straight years. It wasn't until 2005 that revenue reached what it was before the tax cut.

The promise made was that the tax cut would INCREASE revenues thanks to increased consumer spending...unfortunately, the only thing that increased was debt.

Then the panic started to set in around 2003 because it wasn't working, which is why Bush and the Conservatives inflated a housing bubble in 2004, tied it to their tax cuts, and campaigned on it.

The government cannot pay the debt.

One question, at what point will the debt come due?

And what happens if the government can't pay it?

Take me through the steps...pretend I'm you and I'm trying to understand this for the first time.

 

[LV426]

Redefinition fallacy (capitalism<->fascism).
The DEMOCRATS created the KKK and continue to fund and support it.
The DEMOCRATS fought for slavery and still want to implement it.
The Nazis were fascists, like DEMOCRATS.
Putin is a communist, like DEMOCRATS.
DEMOCRATS opposed civil rights.

All you can do is "I'm rubber you're glue", but everyone notices that you can't defend the merits of Conservatism because it has none. Isn't that right?

That's why you're acting like a child, because you have no merits.

You can't even think of one single example of a successful Conservative policy.

Why do you think that is? Because there are none.

 

[LV426]

We are the drug addict that has been falling for a long time and is on the last bender...and to some degree we know it even as almost all deny it when pointed out.

What drug are "we" addicted to?

You're the ones who scream about cutting taxes all the time because you still stupidly think they'll perform economic miracles even though 40 years of them have produced NOTHING but debt.

We could have paid our debt off by 2010 but YOU FUCKING MORONS wanted tax cuts and believed idiot liars when they told you that they would perform miracles.

Seems to me the drug people are addicted to is Conservatism, and if we get rid of that, we won't have these problems anymore.

 

[Hawkeye10]

What drug are "we" addicted to?

You're the ones who scream about cutting taxes all the time because you still stupidly think they'll perform economic miracles even though 40 years of them have produced NOTHING but debt.

We could have paid our debt off by 2010 but YOU FUCKING MORONS wanted tax cuts and believed idiot liars when they told you that they would perform miracles.

Seems to me the drug people are addicted to is Conservatism, and if we get rid of that, we won't have these problems anymore.

Debt....the making of new dollars.

 

[LV426]

Debt....the making of new dollars.

What is your problem with that?

And you know how you get rid of debt, right? By raising revenues. So I suppose you support tax increases, then? Cuz I do.

 

[PostmodernProphet]

Always comical when today’s “conservatives” start talking about the national debt.

For four years of the last Administration, when their Messiah was setting new four year records adding close to eight trillion to that debt, a large part which came in his first three years when he enjoyed a relatively healthy economy and no crisis, they said nothing, not a whisper, but now, we are suppose to believe it is one of their top priorities

It appears the right’s concern for the national debt depends solely upon who occupies 1600 Pennsylvania Avenue, Washington, DC , the hypocrisy couldn’t be anymore visible

$27T of the $33T was spent by Demmycrats under Nancy Pelosi...

 

[Dutch Uncle]

$27T of the $33T was spent by Demmycrats under Nancy Pelosi...

Why didn't Trump refuse to sign the bill? Is it because he's a limp-dicked loser?

 

[Into the Night]

Yes they did. They reduced revenue for four straight years. It wasn't until 2005 that revenue reached what it was before the tax cut.

That does not cause debt.

The promise made was that the tax cut would INCREASE revenues thanks to increased consumer spending...unfortunately, the only thing that increased was debt.

Tax cuts do not cause debt.

Then the panic started to set in around 2003 because it wasn't working, which is why Bush and the Conservatives inflated a housing bubble in 2004, tied it to their tax cuts, and campaigned on it.

No one 'inflated' the housing bubble. There is no such thing. The cause of the bubble was the Federal Reserve, fueling speculation.

One question, at what point will the debt come due?

Some of it today, some of it tomorrow, some of it next year, etc.

And what happens if the government can't pay it?

A debt crash. The dollar will become essentially worthless and the government will be forced to shut down many programs in an uncontrolled manner. This typically results in war.

Take me through the steps...pretend I'm you and I'm trying to understand this for the first time.

I already understand it, so you are asking that I assume you do too. I know you don't, though.

 

[Into the Night]

All you can do is "I'm rubber you're glue", but everyone notices that you can't defend the merits of Conservatism because it has none. Isn't that right?

Fallacy fallacy. Inversion fallacy.

That's why you're acting like a child, because you have no merits.

Inversion fallacy.

You can't even think of one single example of a successful Conservative policy.
Why do you think that is? Because there are none.

Blatant lie.

 

[Into the Night]

You're the ones who scream about cutting taxes all the time because you still stupidly think they'll perform economic miracles even though 40 years of them have produced NOTHING but debt.

Tax cuts do not produce debt.

We could have paid our debt off by 2010 but YOU FUCKING MORONS wanted tax cuts and believed idiot liars when they told you that they would perform miracles.

The federal government cannot pay off it's debt.

Seems to me the drug people are addicted to is Conservatism, and if we get rid of that, we won't have these problems anymore.

Neither the Constitution nor capitalists created the debt.

 

[Into the Night]

Debt....the making of new dollars.

M1 is not the debt.

 

[Into the Night]

What is your problem with that?

And you know how you get rid of debt, right? By raising revenues. So I suppose you support tax increases, then? Cuz I do.

Taxes will not reduce the debt.