In first 2 months in office Trump reduced debt by 100 billion Obama increased debt by 400 billion

[Luddly Neddite]

Please show what Trump did to cause that. I will admit it happened as he was walking in the door, but what specifically did he do to cause it. Did our creditors just reduce the amount we owe just because he was elected?

The answer is simple. He's White and the business world respects his superior intellect on economics.

You really know nothing about him, do you.

If you educate yourself, you will never again say something this utterly stupid.

Naw, actually, you'll keep saying it because that's what your owners tell you to say.

Dummy.

 

[leftwinger]

Time to cash the reality check -----

The OP (both the original thread by MIndWars and the merged one by Gasbag) -- cite not a credible source but ---- Jim Fucking Hoft. Gateway Pundit, one of the most unhinged fabricators on the 'net.

But wait, it gets better.

Turns out that the numbers.... come from a Rump tweet.... which is in turn citing numbers from... wait for it....


Jim Fucking Hoft on an older Gateway Pundit page.

That's right --- they're confirming their own echo.

Narrated Snopes:

>> The Gateway Pundit article says that the change in debt under Trump translates to a 0.1 percent reduction in the U.S. debt burden. Actually, it’s .06 percent between Jan. 20 and Feb. 21 — a very small change. (The national debt has gone up or down by as much .19 percent on single days this year.) (<-- quote from WaPo)

Secondly, there are few mechanisms by which any actions Trump has taken as president would affect the national debt thus far, as he has not signed into law any financial measures related to federal borrowing. While there are arguments to be made that other factors related to Trump’s presidency could affect the debt, the Post has said it is unlikely, and also impossible to quantify: <<​

More:...

>> "Government borrowing in January and February is the byproduct of spending and tax policies set by Congress the year before. President Obama signed the fiscal stimulus law on February 17, 2009, but it took months before that began to change government cash flows and borrowing requirements. President Trump has so far not measurably affected fiscal policy in general or government borrowing in specific. It’s unfair to assign any responsibility for borrowing in the first month to either president.

GDP was plummeting when President Obama took office. Tax revenues were down, automatic stabilizer payments (e.g., unemployment insurance and safety net spending) were up, and funds were being spent from the Troubled Asset Relief Program (TARP). In early 2009 government was borrowing a lot because the economy was weak, not because of President Obama’s policies. In contrast, the U.S. economy is now growing. The smaller borrowing requirement for this month is mostly a result of this economic difference, and may also in part be simply an artifact of choosing such a short timeframe for comparison.

... Had the president / Mr. Cain ended his timeframe one day earlier this tweet would have been invalid and debt would have increased (by just $1 B) in “the first month.” This is why analysts look at debt on an annual basis rather than daily/weekly/monthly." --- Keith Hennessey, former director of the U.S. National Economic Council appointed by George W. Bush​

Gullible's Travels. Jim Fucking Hoft shouldn't even have a job.

Can't argue with much of that. Can you argue that TARP was charged to GWB final year but paid back with interest during a BO year?
Didn't think so. Yet BO years ran steady debt despite this free TARP payback.

 

[theHawk]

Trump Seeks Credit for America's Debt Reduction
---
President Donald Trump asked on Twitter why the media hasn’t reported that the national debt has dropped since his inauguration. One explanation, some economists said: Trump couldn’t have had anything to do with it.

“Anything that has happened to the debt has been on autopilot since Obama left," said Laurence Kotlikoff, an economics professor at Boston University. “If anything, he is taking credit for something Obama did."
---

This is priceless. Eight years of Obozo adding ten trillion to the debt, and now magically he is responsible for government spending cuts during Trump.

 

[RASTAMEN]

Half a trillion in two months.

In First 2 Months in Office: Trump Reduced Debt by $100 Billion – Obama Increased Debt by $400 Billion

Yes, further proof President Obama left Trump a pretty stable economy in 2016-2017. Now Trump has to make sure his economic policies doesn't drive the U.S. into the ditch again, like the last GOP President did.

 

[Pogo]

Time to cash the reality check -----

The OP (both the original thread by MIndWars and the merged one by Gasbag) -- cite not a credible source but ---- Jim Fucking Hoft. Gateway Pundit, one of the most unhinged fabricators on the 'net.

But wait, it gets better.

Turns out that the numbers.... come from a Rump tweet.... which is in turn citing numbers from... wait for it....


Jim Fucking Hoft on an older Gateway Pundit page.

That's right --- they're confirming their own echo.

Narrated Snopes:

>> The Gateway Pundit article says that the change in debt under Trump translates to a 0.1 percent reduction in the U.S. debt burden. Actually, it’s .06 percent between Jan. 20 and Feb. 21 — a very small change. (The national debt has gone up or down by as much .19 percent on single days this year.) (<-- quote from WaPo)

Secondly, there are few mechanisms by which any actions Trump has taken as president would affect the national debt thus far, as he has not signed into law any financial measures related to federal borrowing. While there are arguments to be made that other factors related to Trump’s presidency could affect the debt, the Post has said it is unlikely, and also impossible to quantify: <<​

More:...

>> "Government borrowing in January and February is the byproduct of spending and tax policies set by Congress the year before. President Obama signed the fiscal stimulus law on February 17, 2009, but it took months before that began to change government cash flows and borrowing requirements. President Trump has so far not measurably affected fiscal policy in general or government borrowing in specific. It’s unfair to assign any responsibility for borrowing in the first month to either president.

GDP was plummeting when President Obama took office. Tax revenues were down, automatic stabilizer payments (e.g., unemployment insurance and safety net spending) were up, and funds were being spent from the Troubled Asset Relief Program (TARP). In early 2009 government was borrowing a lot because the economy was weak, not because of President Obama’s policies. In contrast, the U.S. economy is now growing. The smaller borrowing requirement for this month is mostly a result of this economic difference, and may also in part be simply an artifact of choosing such a short timeframe for comparison.

... Had the president / Mr. Cain ended his timeframe one day earlier this tweet would have been invalid and debt would have increased (by just $1 B) in “the first month.” This is why analysts look at debt on an annual basis rather than daily/weekly/monthly." --- Keith Hennessey, former director of the U.S. National Economic Council appointed by George W. Bush​

Gullible's Travels. Jim Fucking Hoft shouldn't even have a job.

Can't argue with much of that. Can you argue that TARP charge to GWB but paid back with interest to BO?
Didn't think so. Yet BO years ran steady debt despite TARP payback.

Don't even know what you mean by "TARP charge to GWB".

TARP was a gummint expense, ARRA was a gummint expense. Rump hasn't needed any comparable emergency measures since he inherited a far better situation. Being that ARRA at least was put into play in the first month of O'bama, that could have a lot to do with skewing the numbers from an already-dubious source. Numbers which as shown aren't in a position to be compared yet anyway.

 

[RASTAMEN]

Trump Seeks Credit for America's Debt Reduction
---
President Donald Trump asked on Twitter why the media hasn’t reported that the national debt has dropped since his inauguration. One explanation, some economists said: Trump couldn’t have had anything to do with it.

“Anything that has happened to the debt has been on autopilot since Obama left," said Laurence Kotlikoff, an economics professor at Boston University. “If anything, he is taking credit for something Obama did."
---

This is priceless. Eight years of Obozo adding ten trillion to the debt, and now magically he is responsible for government spending cuts during Trump.

8 years ago President Obama had to find a way from stopping this county from losing 800,000 jobs a month.

 

[leftwinger]

Don't even know what you mean by "TARP charge to GWB".

sigh. deep sigh. It would be easier to IGNORE than deal with this. TARP was about $760B added on during early 2009 to the 2008 budget. Charged during GWBs' final year spending. Each loon on this site has trumpeted BUSH left OBAMA with $1.3T deficit. Even you would have seen that 100 times or more. This number included TARP. TARP was paid back later with interest into the FED treasury during OBAMA revenue years. END of story.

 

[RASTAMEN]

Trump Seeks Credit for America's Debt Reduction
---
President Donald Trump asked on Twitter why the media hasn’t reported that the national debt has dropped since his inauguration. One explanation, some economists said: Trump couldn’t have had anything to do with it.

“Anything that has happened to the debt has been on autopilot since Obama left," said Laurence Kotlikoff, an economics professor at Boston University. “If anything, he is taking credit for something Obama did."
---

This is priceless. Eight years of Obozo adding ten trillion to the debt, and now magically he is responsible for government spending cuts during Trump.

Donald Trump's budget plan would add $10 trillion in debt
Donald Trump's budget plan would add $10 trillion in debt
WASHINGTON - A new Washington study says Donald Trump's tax and budget plans would make the national debt skyrocket by $10 trillion or more over the coming decade, mostly because of his ambitious and expensive tax cuts.

The Committee for a Responsible Federal Budget says Democrat Hillary Clinton's agenda -- which relies on tax increases to pay for proposals such as making the Affordable Care Act more generous -- would increase the debt by about $250 billion over 10 years.

Trump's measure is considered important, because if the debt gets too large it would cause higher interest rates, be a severe drag on national investment and growth, and potentially lead to a fiscal crisis. Interest costs would also squeeze out other priorities such as defense, education and infrastructure investment.

Trump's tax plans, which include lowering the top income tax bracket from 39.6 percent to 25 percent and the top corporate rate from 35 percent to 15 percent, would add $9 trillion-plus to cumulative deficits over a decade. Clinton would increase taxes by $1.25 trillion over the same period, chiefly through a 4 percent surtax on top earners and a limit on deductions taken by the wealthy.

All told, Trump's policies would result in the $19.3 trillion national debt spiking to 127 percent of the size of the U.S. economy by 2026. Clinton's plans would closely track current law, in which the debt would equal 86 percent of the economy.

By contrast, a tax proposal released last week by House Speaker Paul Ryan, R-Wisconsin, promises no net loss of tax revenue and is therefore only able to lower the top individual tax rate to 33 percent and the top corporate rate to 20 percent.

The Committee for a Responsible Federal Budget advocates for smaller deficits, and, like the Congressional Budget Office and other nonpartisan groups, warns that the government's projected deficits and debt will become unsustainable before too long. It receives backing from a foundation funded by deficit hawk Peter G. Peterson, the Pew Charitable Trusts and other foundations.

"Encouragingly, both of the major parties' presumptive presidential nominees have highlighted the need for fiscal responsibility on the campaign trail," said the group's report. "Unfortunately, to date neither former Secretary of State Hillary Clinton nor businessman Donald Trump has put forward a plan to address the national debt, and Mr. Trump's proposals would massively increase the debt."

© 2016 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

 

[Pogo]

Don't even know what you mean by "TARP charge to GWB".

sigh. deep sigh. It would be easier to IGNORE than deal with this. TARP was about $760B added on during early 2009 to the 2008 budget. Charged during GWBs' final year spending. Each loon on this site has trumpeted BUSH left OBAMA with $1.3T deficit. Even you would have seen that 100 times or more. This number included TARP. TARP was paid back later with interest into the FED treasury during OBAMA revenue years. END of story.

I've never made or even vaguely hinted at any such claim. Prove me wrong.

End of story.

 

[RASTAMEN]

Trump is really enjoying the economic and financial situations left to him by President Obama.

 

[Pogo]

Trump is really enjoying the economic and financial situations let to him by President Obama.

--- which is why he ran in 2016, and not 2008. That woulda been too much like work.

 

[leftwinger]

Trump is really enjoying the economic and financial situations left to him by President Obama.

Can't argue with that.

Federal Debt: Total Public Debt

spike up endof 2008 includes TARP.

USMB has been all over this debt issue. Not again.
The answer is how to get it down?
Trump is the only hope to begin to try to cut useless GOVT.
He needs to avoid the RINO and ignore the DemWitts.

 

[BULLDOG]

Please show what Trump did to cause that. I will admit it happened as he was walking in the door, but what specifically did he do to cause it. Did our creditors just reduce the amount we owe just because he was elected?

The answer is simple. He's White and the business world respects his superior intellect on economics.

That's goofy, even for you.

 

[BULLDOG]

This defies yet another liberal lie that it takes years for results to show in Washington.

Results from what?You can't show anything he has done to cause that result.

 

[Eaglewings]

The deficit has come down in recent years because of the strengthening economy, which drives tax revenues up, and the draw-down of various economic stimulus programs that were implemented to weather the financial crisis. Additionally, the expiration of 2 percent payroll tax cuts and increases in tax rates for high-income earners played a role, albeit a smaller one.

 

[TheGreatGatsby]

Half a trillion in two months.

In First 2 Months in Office: Trump Reduced Debt by $100 Billion – Obama Increased Debt by $400 Billion

This is the second lying bullshit thread on this - from the same NaziCon source. Don't you and Stevie communicate?

And I'll bet you reported it like the fa**** you are.

 

[TheGreatGatsby]

Half a trillion in two months.

In First 2 Months in Office: Trump Reduced Debt by $100 Billion – Obama Increased Debt by $400 Billion

What's the difference?

Wait, I had "hair" Do I get points for that?

How 'bout this -- one was black, the other is orange?

C'mon, hook a brutha up.

O'bama came in with an intense depression going on. One of his first acts was to put the ARRA through, which he signed into law on February 17. Presumably this is part of the OP's "math he does as a Republican". Also known as the "stimulus bill", it was already underway by this time eight years ago including right here where I live, in tangible form. One of O'bama's campaign issues.

Rump came in with campaign issues of "build a wall" and "Muslims keep out". The former has failed to appear, heralded only by the word "soon". The latter has failed the predictable court challenges, twice.

Oh here's another difference --- O'bama didn't sulk on Twitter about how Dubya "bugged his office" and then run from questions about it.

How'm I doin'? I think I aced this test.

Was that "intense depression" still raging in his last couple years? Oh, no; it wasn't. Who cares about your revisionist/apologist bull shit schtick.

 

[TheGreatGatsby]

Trump Seeks Credit for America's Debt Reduction
---
President Donald Trump asked on Twitter why the media hasn’t reported that the national debt has dropped since his inauguration. One explanation, some economists said: Trump couldn’t have had anything to do with it.

“Anything that has happened to the debt has been on autopilot since Obama left," said Laurence Kotlikoff, an economics professor at Boston University. “If anything, he is taking credit for something Obama did."
---

This is priceless. Eight years of Obozo adding ten trillion to the debt, and now magically he is responsible for government spending cuts during Trump.

8 years ago President Obama had to find a way from stopping this county from losing 800,000 jobs a month.

And what did he do that you think was "the cure"?

 

[TheGreatGatsby]

Trump is really enjoying the economic and financial situations left to him by President Obama.

Obama left a deficit. Try to keep up.

 

[TheOldSchool]

Over 94,000,000 people not in the work force, and Trump's on vacay #5 at Mar-a-Lago

It is not a vacation to go home on the weekend? I know I know, I am "stretching". I wish he did not to set example. I wish he would ban ANY and ALL non-essintial FED travel costs immediatley. Along with 10-25% pay cut for all above $100K salary. 5% for all the rest. But active duty military, law enforcement exempt of course.

Looks like non-essential FED travel is one of Trump's favorite Presidential perks