Quote:
Originally Posted by WTF
I wish you could see my point about how stupid you sound asking about how we are going to service 30 trillion of debt and not being bright enough to see under what administration that debt spiked. (Reagan)
Trump put up almost 9 trillion of it in four years , while you and Tiny cheered his economic prowess!  |
wrong. your guesstimate of 9 trillion is way off. by several trillion. where you getting yer figures professor poofter?
without COVID you can only claim the debt increased by 4 trillion under Trump.
in just 18 months guess how much Biden has added? 6.5 trillion. how much of that was unneeded crap? about half of it.
Debt under Trump
The US government hasn’t run a fiscal surplus
since 2001. Under President Trump, the
deficit increased every single year and
ballooned to more than $3 trillion in 2020 due to the government’s response to the pandemic.
Under Trump, the US debt increased by a total of
$7 trillion and during his presidency Congress voted to increase the debt ceiling three times.
Most of what increased the national debt under Trump were bipartisan efforts, like Covid relief packages and increases in discretionary caps, Marc Goldwein, senior vice president for the nonpartisan Committee for a Responsible Federal Budget (CRFB), told CNN. “But it wasn’t paid for,” Goldwein said.
Debt under Biden
Goldwein told CNN that while “Trump is partially responsible for the deficit for 2021 and 2022…to suggest that it’s primarily a Trump deficit, I think is incorrect.”
“(A) significant portion of the deficit is from the American Rescue Plan that President Biden signed into law,” Goldwein added.
The American Rescue Plan came with a $1.9 trillion price tag and Democrats are currently working to pass Biden’s $1 trillion infrastructure legislation as well as a $3.5 trillion spending plan.
Until this legislation is finalized it’s unclear just how much of a deficit the government might run in the fiscal year of 2022. The Biden administration has said it plans to cover much of the cost of his agenda by increasing taxes on high earners and corporations.
https://www.cnn.com/2021/09/24/polit...eck/index.html
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