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I"m no Biden fan but give the devil his due: Biden brought the deficit down an astonishing 12%, from 17.5% of GDP to 7.5%. In the past 12 months government spending has fallen from 35% to 25% of GDP and appears poised to go down even more. Trump, on the other hand promised to bring down the national debt. Instead it surged after his tax cut for the wealthy kicked in
The national debt [rose] by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages, combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.
Yeah, I have a stack of Monopoly money here that would put a big dent in the deficit as well. In fact, if you'll hold my beer, I'll go ahead and print enough up to wipe the deficit completely out. Yea! Now we are debt free. Hand my beer back.
How. Please show me how. All this administration has been doing is spending. I find this very hard to believe.
He spent so much last year the deficit is lower this year. No more 1.9 trillion and certainly not the larger build back better plan.it's like saying I didn't lose as much at the casino this year but I lost $1.9 trillion ,last year
Increased spending is not good no matter which party does it. The dems say they will spend and do so. You can see them coming from a mile away. The republicans are the hypocrites.
What was the last administration that oversaw more federal income than spend (decreased the national debt). At this point it's late on a Friday night and I guess I'm lazy, but I'm really curious. I'm so anti-politician in general that I assume they've all made it worse. When was the last time the debt was reduced?
Not saying I'm a huge fan of giant taxes, because I'm not. That's a different conversation.
I"m no Biden fan but give the devil his due: Biden brought the deficit down an astonishing 12%, from 17.5% of GDP to 7.5%. In the past 12 months government spending has fallen from 35% to 25% of GDP and appears poised to go down even more. Trump, on the other hand promised to bring down the national debt. Instead it surged after his tax cut for the wealthy kicked in
The national debt [rose] by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages, combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.
Biden is only now in his first year with any input on the SET Federal budget. Should I really go find where the budget was supposed to be even lower than it has under Biden?
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