We now Owe More Than We're Worth

[MisterBeale]

Right because this all started underTrump no President before him ran up the national debt. Other than everyyone of them since Andrew Jackson who did paid off the national debt in 1835 and that lasted for a grand total of one year.

It continued under your blob. Correct?

Tell me honest.

If you can.

Do you think things would have been any different with Cankles as president?

 

[theHawk]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

So let’s elect a bunch of tax and spend liberals?
$60 trillion Green New Deal?

We have a spend liberal--your blob ran up $5T in debt in less than 4 years. Now you're going to try to tell us that he didn't....hop to it

At least he fixed the economy and didn’t get us into any new stupid wars. Can your lifelong Washington goober named Biden say that? Nope.

Holy change of subject Batman!

He fixed the economy? We now owe more than we're worth.

Feel free to link Nancy Pelosi’s balanced budget bill.

 

[Michelle420]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

So let’s elect a bunch of tax and spend liberals?
$60 trillion Green New Deal?

We have a spend liberal--your blob ran up $5T in debt in less than 4 years. Now you're going to try to tell us that he didn't....hop to it

Actually Bush, Obama, and Trump are all pretty close.

The president doesn't have much control over the debt added during his first year in office. Its budget was already set by the previous president.
For example, President Donald Trump took office in January 2017. He submitted his first budget in May. It covered Fiscal Year 2018, which didn't begin until October 1. For the first nine months of his new term, Trump operated under President Barack Obama's last budget. That was for FY 2017, which continued until September 30, 2017.


This timing difference explains why no new president is accountable for the budget deficit in his first year in office.


While the time lag makes it seem confusing, Congress intentionally set it up this way. The federal fiscal year gives the new president time to put together his budget during his first month in office.

US Debt by President: Dollar and Percentage

Depending on how you measure it, different presidents have added to the national debt. Check out how the national debt has increased by year and president.

www.thebalance.com

 

[deannalw]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

Speak for yourself- I'm practically priceless.

 

[candycorn]

Right because this all started underTrump no President before him ran up the national debt. Other than everyyone of them since Andrew Jackson who did paid off the national debt in 1835 and that lasted for a grand total of one year.

It continued under your blob. Correct?

Tell me honest.

If you can.

Do you think things would have been any different with Cankles as president?

Somewhat. We wouldn't have had the tax cuts for businesses and millionaires that lead to the debt expanding as much as it did. We would still be in the red but not as much.

 

[Toddsterpatriot]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

So let’s elect a bunch of tax and spend liberals?
$60 trillion Green New Deal?

We have a spend liberal--your blob ran up $5T in debt in less than 4 years. Now you're going to try to tell us that he didn't....hop to it

At least he fixed the economy and didn’t get us into any new stupid wars. Can your lifelong Washington goober named Biden say that? Nope.

Holy change of subject Batman!

He fixed the economy? We now owe more than we're worth.

We now owe more than we're worth.

GDP isn't "what we're worth".

Oh, okay.

The Fed - Chart: Balance Sheet of Households and Nonprofit Organizations, 1952 - 2022

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

 

[candycorn]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

So let’s elect a bunch of tax and spend liberals?
$60 trillion Green New Deal?

We have a spend liberal--your blob ran up $5T in debt in less than 4 years. Now you're going to try to tell us that he didn't....hop to it

At least he fixed the economy and didn’t get us into any new stupid wars. Can your lifelong Washington goober named Biden say that? Nope.

Holy change of subject Batman!

He fixed the economy? We now owe more than we're worth.

Feel free to link Nancy Pelosi’s balanced budget bill.

Ahh...now we start the phase to where you guys argue that somehow the President doesn't sign off on every penny spent.

Pelosi's House passed a $3T second stimulus. Not a penny of it has been spent. Why? Because the blob's signature wasn't on the bill transforming it into law.

 

[candycorn]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

So let’s elect a bunch of tax and spend liberals?
$60 trillion Green New Deal?

We have a spend liberal--your blob ran up $5T in debt in less than 4 years. Now you're going to try to tell us that he didn't....hop to it

Actually Bush, Obama, and Trump are all pretty close.

The president doesn't have much control over the debt added during his first year in office. Its budget was already set by the previous president.
For example, President Donald Trump took office in January 2017. He submitted his first budget in May. It covered Fiscal Year 2018, which didn't begin until October 1. For the first nine months of his new term, Trump operated under President Barack Obama's last budget. That was for FY 2017, which continued until September 30, 2017.


This timing difference explains why no new president is accountable for the budget deficit in his first year in office.


While the time lag makes it seem confusing, Congress intentionally set it up this way. The federal fiscal year gives the new president time to put together his budget during his first month in office.

US Debt by President: Dollar and Percentage

Depending on how you measure it, different presidents have added to the national debt. Check out how the national debt has increased by year and president.

www.thebalance.com

Quite True. Both parties are out to lunch fiscally.

I've said so for years now:
2012:

If I have to pick a party, I side with the DNC because I think socially, they are the party that identifies my values. Fiscally, both parties are out to lunch.

 

[MisterBeale]

Right because this all started underTrump no President before him ran up the national debt. Other than everyyone of them since Andrew Jackson who did paid off the national debt in 1835 and that lasted for a grand total of one year.

It continued under your blob. Correct?

Tell me honest.

If you can.

Do you think things would have been any different with Cankles as president?

Somewhat. We wouldn't have had the tax cuts for businesses and millionaires that lead to the debt expanding as much as it did. We would still be in the red but not as much.

Nah. . . we'd be more in the red b/c Cankles would not have slashed business regs. as much, which therefor would not have made the economy grow as much as it did, which therefor would not have brought in nearly as much tax revenue, and thus?

The government would be much more in the red. . . .

 

[candycorn]

Right because this all started underTrump no President before him ran up the national debt. Other than everyyone of them since Andrew Jackson who did paid off the national debt in 1835 and that lasted for a grand total of one year.

It continued under your blob. Correct?

Tell me honest.

If you can.

Do you think things would have been any different with Cankles as president?

Somewhat. We wouldn't have had the tax cuts for businesses and millionaires that lead to the debt expanding as much as it did. We would still be in the red but not as much.

Nah. . . we'd be more in the red b/c Cankles would not have slashed business regs. as much, which therefor would not have made the economy grow as much as it did, which therefor would not have brought in nearly as much tax revenue, and thus?

The government would be much more in the red. . . .

False...

In most years, The GDP grew more under Obama than it did the blob.

 

[the other mike]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

The debt was already $20 Trillion and spiraling up before he ever stepped foot in Washington.

And the tax bill he signed ( $1.5 trillion ) that was Paul Ryan's baby.

 

[candycorn]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

The debt was already $20 Trillion and spiraling up before he ever stepped foot in Washington.

And the tax bill he signed ( $1.5 trillion ) that was Paul Ryan's baby.

And he did nothing except add to the debt.

 

[Orangecat]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

Obama said we could mint trillion dollar coins and be free of debt.

 

[candycorn]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

Obama said we could mint trillion dollar coins and be free of debt.

Okay.?

 

[blackhawk]

Right because this all started underTrump no President before him ran up the national debt. Other than everyyone of them since Andrew Jackson who did paid off the national debt in 1835 and that lasted for a grand total of one year.

It continued under your blob. Correct?

As it continued under Obama, Bush, Clinton, Bush again, Reagan, Carter and on down the line as it will continue with whoever follows Trump. When it comes to dealing with the national debt we are way way past the point of no return and this is the fault of both sides yet you and the other hyper partisans on both the left and right never want to acknowledge your sides part in it.

 

[Thinker101]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

Dang, next thing ya know Standard and Poor will downgrade the U.S.'s credit rating. Oh wait, that was already done under Obama...dumbass.

 

[pknopp]

Barry Hussein almost doubled the debt during his reign.

He did but Trump is well on his way of blowing Obama's deficits away.

 

[BigDave]

 

[Mr Natural]

More tax cuts for the billionaires are in order!

 

[Ken Mac]

When you have a President who is a serial bankruptcy filer...it should stand to reason that he would have lead the US to this dubious place in History:

U.S. To Owe More Than The Size Of Its Economy For The 1st Time In 75 Years

Congressional forecasters expect the federal deficit to reach $3.3 trillion during the current fiscal year. By 2023, government debt will reach an all-time high of 107% of GDP.

www.npr.org

Why would anyone listen to you? You don't even know the difference between worth and GDP.