WTH_Progs?
Diamond Member
- Feb 19, 2019
- 12,229
- 10,327
Well actually,
Though the debt had been growing steadily in recent years, the rate of growth increased substantially throughout the pandemic, according to The Brookings Institution. Federal spending shot up under both Presidents Trump and Biden, as trillions were spent on economic stimulus, according to the Council on Foreign Relations. The total national debt stood at $27.7 trillion on the day of Biden’s inauguration, and has increased by over $3 trillion since then, according to the Treasury Department.
I think the problem shared by the I Blame Trump™ crowd is that they ignore the warnings of too much Federal Reserve printing of money which the Dems / Marxists don’t seem to understand dilutes the value of currency, thus inflation, thus deficits… but they don’t care.
Did you read of the boondoggle insisted upon by the Dems / Marxists called elimination of student debt? Did you know that their debt is not eliminated, It just falls on the backs of taxpayers. That debt is inflationary.
It’s a bit like another of the Dem / Marxist boondoggles insisting the taxpayers assume $50 Trillion in new debt on behalf of the greenies. Have you heard we’re all gonna’ die in the next few months / years if we don’t stop global warming…. by spending tons of money for the greenies.
Federal Debt was 21.6 Trillion in January 2021. Today it's 32.1 Trillion