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Obama inherited a 1.4 trillion dollar deficit from Bush. By the time Obama left office, he had managed to reduce the deficit by almost 2/3rds to around 500 billion.
Trumps steps up the plate promises several times:
In February 2016 Trump said he could start paying off the national debt "so easily."
In March 2016, Trump said he could cut trillions of dollars in spending by eliminating “waste, fraud, and abuse.”
In April 2016, Trump said that he was confident that he could “get rid of” the entire multi-trillion-dollar debt “fairly quickly.”
July 2016 Trump said “we’ll start paying off that debt like water.”
Now the national debt is back over 1 Trillion and still climbing.
“Since 1992, there have been 11 months in which the deficit topped $200 billion. Seven of those have happened under Trump.” The Washington Post
Trump's latest trillion has happened in nine months. So much winning.
the average deficit of bush...200 billion
the average deficit of Obama...1.4 trillion.....6 out of 8 years with trillion+ deficit, including his last full year FY16
trumps average so far...less than Obama....but may he surpasses Obama...maybe not,,, Obama added 10 trillion in national debt
A child could compare your “facts” to reality with a google search and know you’re cra cra.
Sure a new tax cut just in time for the election, with unemployment at 3.7% where are they getting these people and what are these jobs, certainly not manufacturing.
Let the madness continue with a novice like Kudlow at the helm. Where are the spending cuts and where is the Tea Party and Freedom Caucus, surely they have a problem with this proposal.
Quote:
BALTIMORE (Reuters) - The Trump administration plans to unveil a tax cut plan in mid-2020, a top White House adviser said on Friday, saying it would be targeted to giving significant relief to the middle class.
Speaking to reporters at a retreat for Republican lawmakers, White House economic adviser Larry Kudlow offered no details on what he has termed “Tax Cuts 2.0,” a plan the administration intends to put forward as President Donald Trump pursues his bid for a second White House term.
He said Republicans would aim to make the existing tax cuts permanent instead of letting them expire as scheduled in 2025 for many of the provisions. He added that the reductions would be expanded for the middle class and legislation would aim to create more jobs.
so it was 3.32 trillion Obama's last budget and now it's 3.44 trillion this year ... wow, Trump's a spendthrift huh, time to go back to the days of Obama....lol
Maybe, since the figures show revenue increased from $2.5 to $3.4 during his term, while making significant reductions to deficits.
After the cuts the revenue increased $0.01, which shows a significant decrease in rate of increase, and deficits are going through the roof.
Maybe you will one day understand extremely basic math.
ONLY SPENDING CAUSES DEBT.
If you can't understand this exceptionally basic concept, you'll never understand any form of finance.
Failure to pay for the spending causes it. Unfortunately this is beyond your ability to understand.
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