$30,000,000,000,000 and Counting

[Mac1958]

So you are just a moron then. Trump economic policy couldn't even hit 3% growth. Deficits increased every single year even with a good economy.

Not to mention all the QE. Not to mention the NY Fed saving our asses by pouring $1.8 TRILLION into Trump's short term credit markets in 2018/2019. Not to mention bond yields crashing 60%. Not to mention spending like a 16 year old girl with Daddy's Gold Card (and how appropriate is THAT one). And they STILL couldn't get big GDP.

Oh, and let's not forget Trump's extended manufacturing recession.

And they call it "the greatest economy ever", because they'll believe everything an obvious con man says, and because they're ignorant.

They're operating on pure emotion now. Paranoia, rage, hate.

 

[g5000]

The higher our debt goes, the more our GDP growth will be suppressed. A simple economic fact.


https://www.cato.org/cato-journal/fall-2021/impact-public-debt-economic-growth

The study finds that, across both advanced and emerging economies, high debt‐to‐GDP levels (90 percent and greater) are associated with notably less growth. Countries with debt‐to‐GDP ratios greater than 90 percent have median growth roughly 1.5 percent lower than that of the less‐debt‐burdened groups and mean growth almost 3 percent lower.


We crossed that threshold around 2000.



The results reveal that a 1 percentage point increase in the ratio of government debt to GDP would reduce real GDP growth by about 0.01 percentage point, while a 1 percentage point increase in the ratio of government consumption to GDP leads to a decline in real economic growth of about 0.1 percentage point, on average across countries. In terms of policy recommendations, restrictions on government debt are shown to be more important in preventing negative growth effects for countries with higher trade openness, lower inflation, or higher financial depth.


What this has caused is a snake-swallowing-its-tail effect. As our GDP growth is suppressed by more and more debt, our politicians have to artificially juice GDP by more government spending, which leads to more GDP growth suppression, which leads to even more government spending, ad infinitum until it all comes crashing down.



Gross Domestic Product - GDP

GDP includes all private and public consumption, government outlays, investments, private inventories, paid-in construction costs and the foreign balance of trade (exports are added, imports are subtracted). Put simply, GDP is a broad measurement of a nation’s overall economic activity – the godfather of the indicator world.

<snip>

A country's gross domestic product can be calculated using the following formula: GDP = C + G + I + NX. C is equal to all private consumption, or consumer spending, in a nation's economy, G is the sum of government spending, I is the sum of all the country's investment, including businesses capital expenditures and NX is the nation's total net exports, calculated as total exports minus total imports (NX = Exports - Imports).


By increasing government spending more and more, our politicians are artificially juicing GDP growth. This is an insane cycle of destruction.

 

[MinTrut]

Those are all facts.

To the dangerously duped Democrat, the irrelevant, falsely attributed and otherwise fallacious may appear to be factual.

You just can't deal with them?

See above.

 

[P F Tinmore]

$30,000,000,000,000 and Counting​

Can no one in Washington do math?

OP: The Democrats will literally destroy this nation with debt. Literally. That is not hyperbole. Oh, and if anyone brings up Trump you can shove that crap where the sun does not shine. Obama gave us more debt than all other presidents before him combined and handed that to Trump.

We shouldn't have any debt. Congress can create our own money without any debt.

 

[P F Tinmore]

 

[P F Tinmore]

The Federal Reserve is the biggest scam in US history yet nobody talks about it.