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The global money correction of 2008 was not a presidential thing or even just a US thing. It was the culmination of 20 years of fraudulent upsellsThe numbers you’re throwing around about Obama adding $10 trillion and Biden adding $8.5 trillion aren’t lining up with the facts. When Obama took office in January 2009, the national debt was about $10.6 trillion, and it was around $19.9 trillion when he left in January 2017, so that’s roughly $9.3 trillion in added debt, not $10 trillion.
Remember, a lot of that was thanks to the 2008 financial crisis he inherited from Bush, a conservative Republican.
As for Biden, the debt was about $27.8 trillion when he came in, and it’s currently around $32–33 trillion, which is a $4 to $5 trillion increase, not $8.5 trillion. Part of that bump is leftover COVID relief from Trump’s administration, those were some of the biggest spending bills in American history, and both parties signed off on them. If you want to talk about who’s responsible for most of the debt since Reagan, Republican presidents have generally overseen larger jumps. Reagan nearly tripled it, George W. Bush doubled it, and Trump racked up about $7.8 trillion (at that rate, it's more than 15 trillion in two presidential terms vs Obama's 9.3 trillion in his two terms in office), in just four years. Conservative Republicans spend more, mostly on warmongering. They love to spend on bombs, bullets, the military-industrial complex, DOD..etc.
On top of all that, blue states typically pay more in federal taxes than they get back, while red states receive more than they contribute. States like California and New York send a ton of money to the federal government, while places like Mississippi and West Virginia rely heavily on that money. So saying that “over half the national debt in our history” came from Obama and Biden misses huge pieces of the picture. It ignores the numbers from Reagan, both Bushes, and particularly Trump, and it forgets the economic disasters, like the Great Recession and the global pandemic, that Obama and Biden had to deal with right out of the gate.
Objectively going by the data, It's undeniable. President Joe Biden's policies have been a success. For all Americans. Republican districts did as well or better under Biden, than Democratic districts have.
The Facts: In policy terms, Joe Biden’s presidency has been a resounding success.
Biden failed to win the working class. Democrats might want to stop trying.
Fareed Zakaria
In policy terms, Joe Biden’s presidency has been a resounding success. Entering office as the pandemic still raged, he presided over the creation of almost 17 million jobs with inflation nearing the Fed’s 2 percent target. Productivity is up, wage inequality is down, small business formation is at record levels and wage growth is outpacing inflation.And yet, in political terms, Biden has failed. He leaves office with among the lowest presidential approval ratings in history and his party having lost the presidency, the House and the Senate in the 2024 elections.Biden’s presidency has been an important test of a powerful theory that has animated Democratic Party elites for almost two decade......Take the Inflation Reduction Act, which is the largest climate-related investment program in American history. Of the $346-billion-worth of clean energy investment that had been announced between the law’s passage and last March, almost 78 percent had gone to Republican congressional districts, according to a CNN study of data from the nonpartisan Rhodium Group and the Massachusetts Institute of Technology. The infrastructure bill has been less lopsided, but much of that spending funds jobs in fields typically seen as working class, such as construction. And the Chips and Science Act has resulted in a huge spike in manufacturing investment in the country....Ever since Bill Clinton’s presidency, Democrats have moved left on economic policy. As Ezra Klein has noted, Barack Obama was to the left of Bill Clinton, Hillary Clinton campaigned to the left of Obama, and Biden was to the left of Hillary Clinton. And yet, during that period, Democrats’ working class support has cratered.This is not simply a Trump phenomenon. In the 2022 midterm elections, when MAGA candidates did badly and Democrats did surprisingly well overall, Democrats lost White noncollege educated voters by 34 points nationally in House elections — 10 points worse than in 2018...Democrats have many electoral advantages. They have a solid base of college-educated professionals, women and minorities. Many of the swing voters who have helped them win the popular vote in seven of the past nine presidential elections are registered independents and suburbanites. Perhaps they should lean into their new base and shape a policy agenda around them, rather than pining for the working class Whites whom they lost decades ago.
A few snippets tell the story.
Part of that is dollar erosion. Trump's plan to set up a national Bitcoin reserve is freaking brilliant!
Bitcoin, what a horrible idea.
I suppose it could be. Somebody has to do something to anchor the dollar or it'll just continue to inflate until you need a wheelbarrow to buy a loaf of bread.
What I’m pointing out is that you’re ignoring how much Reagan and both Bushes contributed. Reagan nearly tripled the debt, and George W. Bush doubled it, plus you’re misrepresenting Obama’s numbers by pretending he casually added $10 trillion out of nowhere. He inherited the worst financial crisis since the Great Depression, so of course there was a massive increase tied to stimulus measures, bailout packages, and automatic stabilizers like unemployment insurance. Meanwhile, Biden came in during the tail end of a global pandemic with lingering relief packages that both parties voted for, and those policies impacted the debt right away. Add in the ongoing effects of the 2017 Trump tax cuts, which continue to reduce federal revenue, and the number climbs further. All of that is the relevant context that gets ignored whenever you just throw out big totals without mentioning how or why they got there.Dude, you keep throwing around this “Biden and Obama added $18 trillion”
Debt to the Penny | U.S. Treasury Fiscal Data
Debt to the Penny is the total debt of the U.S. government and is reported daily. It is made up of intragovernmental holdings and debt held by the public.fiscaldata.treasury.gov
^You can look it up yourself, instead of continuing to whine ignorantly.
That’s a $9.3 trillion jump, not $10 trillion.
I could show you why his jump was closer to $10 trillion than to $9.3 trillion, but it'd be wasted on you.
it’s in the ballpark of $32–33 trillion.
You're such a moron. It's over $36 trillion.
What I’m pointing out is that you’re ignoring how much Reagan and both Bushes contributed. Reagan nearly tripled the debt, and George W. Bush doubled it, plus you’re misrepresenting Obama’s numbers by pretending he casually added $10 trillion out of nowhere. He inherited the worst financial crisis since the Great Depression, so of course there was a massive increase tied to stimulus measures, bailout packages, and automatic stabilizers like unemployment insurance. Meanwhile, Biden came in during the tail end of a global pandemic with lingering relief packages that both parties voted for, and those policies impacted the debt right away. Add in the ongoing effects of the 2017 Trump tax cuts, which continue to reduce federal revenue, and the number climbs further. All of that is the relevant context that gets ignored whenever you just throw out big totals without mentioning how or why they got there.
Even if Biden’s portion of the debt has ended up around $8 trillion by 2025 (which is roughly the difference between the $27.8 trillion he inherited and the $36 trillion we’re sitting at now), the problem is pretending that’s all somehow uniquely on him and that the other presidents had nothing to do with the current pile of debt. Trump added about $7.8 trillion in a single term—much of it before COVID. Reagan tripled the debt, and the Iraq War under Bush Jr. was a huge long-term expense launched under very dubious pretenses. When you look at it historically, Republican administrations have often overseen bigger surges in the debt, especially in times when the economy was strong and one would think we’d be paying things down, not running them up.
The “red” states generally receive more in federal spending than they pay in federal taxes, while “blue” states often pay more than they get back. This isn’t just speculation, you can confirm this for yourself. States like Mississippi, West Virginia, and Kentucky are frequently near the top of the list of those relying on federal funds, while places like California and New York consistently contribute more than they receive. All of that affects the national debt.
Biden and Obama didn't triple the debt as Reagan did or double it as the Bushes. Red states also take more from the Feds than they give to it, unlike blue states that actually give more than they receive. Durrrr..Reagan and both Bushes contributed.
But not as much as the $18 trillion contributed by Biden and Obama.
Biden and Obama didn't triple the debt as Reagan did or double it as the Bushes. Red states also take more from the Feds than they give to it, unlike blue states that actually give more than they receive. Durrrr..
Republicans will triple and double the debt, and take much more out of the federal budget than Dems. They take more than they give. They're in deficit. The poorest states in the union are run by right-wing conservatives, not Dems.$18 trillion.....keep telling me it doesn't matter.
Push to cut government spending, because red states get it.
DURR
The dollar is "anchored" to our GDP. Production. We have a sovereign fiat currency, unlike in the past when the USD was backed by gold. Today it's backed by production. Bitcoin is an unstable, volatile crypto-coin hence you can't peg the USD to it if anything crypto-coins become stable, and "anchored" when tied to a more stable, government-issued currency like the USD. There are stable crypto-coins like USDC and USDT. DAI is also pegged to the dollar.I suppose it could be. Somebody has to do something to anchor the dollar or it'll just continue to inflate until you need a wheelbarrow to buy a loaf of bread.
I like it when he pardoned his felonious criminal son after repeatedly saying he wouldn't.One more troll who can not refute a single fact.
Republicans will triple and double the debt, and take much more out of the federal budget than Dems. They take more than they give. They're in deficit. The poorest states in the union are run by right-wing conservatives, not Dems.
Hunter Biden's crimes were not that bad.I like it when he pardoned his felonious criminal son after repeatedly saying he wouldn't.
Oh Ya, and also, when he completly opened up the southern border, and trafficked over 300,000 children. Nobody knows where these children are. Bite me and cackles flew illegal criminals all over the country to rape, and murder children and women.
FACT!!!
What part of the cackles and tater head administration did you like the best?
And before there was even a significant debt, Republicans quadrupled it, and continue to take more money from the Fed than they contribute, unlike Dems. You're delusional.2 Dems added half of all US debt, in only 12 years.
And before there was even a debt, Republicans created it and quadrupled it, and continue to take more money from the Fed than they contribute, unlike Dems. You're delusional.
I like it when he pardoned his felonious criminal son after repeatedly saying he wouldn't.
Oh Ya, and also, when he completly opened up the southern border, and trafficked over 300,000 children. Nobody knows where these children are. Bite me and cackles flew illegal criminals all over the country to rape, and murder children and women.
FACT!!!
What part of the cackles and tater head administration did you like the best?
2 Dems added half of all US debt, in only 12 years.
2 Dems added half of all US debt, in only 12 years.
www.usmessageboard.com
Amen.Here's a single fact for you:
Biden dropped out because his mind is putty.
Here's another:
Trump won both the EC and popular vote.
Suck it, troll.
