Fox News anchor confronts Trump official over ballooning deficit, pointing out it began decreasing under Obama (illegal, Barack Obama)
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Although then-candidate Donald Trump promised in 2016 to eliminate the national deficit if he was elected president, the deficit has actually ballooned significantly since he took office and is projected to grow substantially moving forward. Fox News anchor Chris Wallace confronted acting White House Chief of Staff Mick Mulvaney about this fact Sunday, pointing out that the deficit had begun decreasing under former President Barack Obama before Trump took over.
"After dealing with the Great Recession in his first term, the deficit under Obama dropped by an average of 11 percent a year in his second term," Wallace pointed out to Mulvaney — who also serves as Trump's director of the Office of Management and Budget — on Fox News Sunday.
"The deficit has increased by 15 percent a year in President Trump's first two years. Under President Trump, our national debt has increased by more than $2 trillion," Wallace continued. He pointed out that estimates project that the amount will "top $4 trillion," if a bipartisan budget supported by the president goes through.
Wallace is a Democrat and is the son of Mike Wallace of 60 minutes....Trump has never been about reducing the deficit (unfortunately) so the fact that a Demcorat Congress has ballooned the deficit is not surprising.
More BS. Clinton had a budget surplus there towards the end, and if things had continued on track, the national debt would've been about paid off right about now.
Instead we got Republicans, Bush and Cheney, Iraq and Afghanistan, ...
Clinton lucked into massive tax revenue caused by factors like the boom in 401K accounts and the dotcom boom.
He still signed off on overspending by the GOP congress.
Deficits only mattered when we had a black, liberal Kenyan president. Refresh my memory, what were the spending cuts the gop promised in return for the 2017 spending cuts. Deficits come from lack of revenue an spending by the way.
Run some numbers for me where we can pick up $1 trillion Iin spending cuts.
Oh I forgot that no one ever complained about deficits before President Obama.
More BS. Clinton had a budget surplus there towards the end, and if things had continued on track, the national debt would've been about paid off right about now.
Instead we got Republicans, Bush and Cheney, Iraq and Afghanistan, ...
Bologna. Its well known Clinton robbed from peters SS to look like he paid pauls tab.
Dems were all on aboard with the Bush Cheney ventures and remind us when did Obama end them?
Seventeen years of continual war. This would include your guys tenure.
I'm not trying to justify it but it's still less than half of of what it was under Obama his first few years. Were you complaining then?
It's a fair argument that the exorbitant deficit spending the first few years under the Obama administration was the result of the financial collapse. However you can't then use reductions in the following years to make criticisms of what is occurring under Trump.
I'm not trying to justify it but it's still less than half of of what it was under Obama his first few years. Were you complaining then?
President Obama inherited a Republican created disaster called the Great Recession. He had to spend, it's how you keep a recession from turning into a depression.
Wallace is a Democrat and is the son of Mike Wallace of 60 minutes....Trump has never been about reducing the deficit (unfortunately) so the fact that a Demcorat Congress has ballooned the deficit is not surprising.
Democrat congress? Last I checked it was a GOP president and GOP majorities in both chambers of congress which passed a huge tax while approving a large increase to defense spending. There is no way to spin this. Trump and the GOP own the current budget deficit.
More BS. Clinton had a budget surplus there towards the end, and if things had continued on track, the national debt would've been about paid off right about now.
The debt under Clinton continued to rise. He rode the dot com bubble and the SS surplus and other liabilities which hid deficit spending, the debt under Clinton continued to rise because any SS surplus used for general spending is added to the debt.
The current budget deficit is not masked by any surplus and on top of that they are paying back those IOU's written under the Clinton Administration.
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