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That is what happens when we don't pay for wars and then have a massive recession....debt goes up, it is simple economics. The best thing to do would be to work on reducing the deficit, strengthen the economy by trying to get everyone's wages to go up, and then work on a long term plan to lower the debt. Though when compared to the country's GDP, the debt ratio isn't as bad as some people wish to make it sound.
Let's not forget MASSIVE entitlements. Free isn't free.
As for Trump Vs Clinton, neither one can do much to alter our trajectory as they have to deal with Congress.
In 222 years of all Presidents ending with George Bush, we had 10 Trillion in Debt. Over the last 8 years, Obama raised the national debt 100% to 20 Trillion.
There is really something wrong with this. Dont you agree?
First, Obama had nothing to do with it. The Great Recession, which resulted in massive revenue declines and extra spending on the unemployed, was responsible for almost all of it. Now, because of Obama's tax increases on the top 1%, the deficit has dropped by 75%.
Second, how are you worse of because of the debt? Do you really think the country would have been better off it in 2009-2011 the country focused on lowering the debt, which would have made the economy worse, than focusing on lowering unemployment?
So are there faces and names on the human beings that we owe trillions of dollars too?
Yes, there are faces and names -- most are other Americans. The interest paid to our bondholders, who are 75% other Americans, is income to them, that they then spend in the economy.
Size of national debt when Reagan took office: $1 trillion
Size after six years: $2.3 trillion (130 percent increase)
Size at the end of his presidency: $2.9 trillion (190 percent increase)
Firstly the debt and deficit are two different things and are calculated differently. Secondly trying to judge the deficit under Obama using 2009 as a baseline is laughable.
When Bush’s term started Jan. 20, 2001, the gross federal debt was $5.73 trillion. At the end of his term, Jan. 20, 2009, the gross federal debt was $10.63 trillion. This means that the debt just about doubled under Bush.
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