The Biden Economy

[nailer]

Originally Posted by whell

I don't disagree with your description. But we do manage to run a budget deficit almost every year, with no end in sight.

https://www.timesfreepress.com/news/...news-bad-news/

There have been 13 surplus years since Hoover: 1998 -2001, 1969, 1957, 1956, 1951, 1949,1948, 1947, 1930 and 1929. https://www.thebalancemoney.com/us-d...y-year-3306306)

It would appear that the Democrats have the surplus lead at 7 to 6.

[whell]

Originally Posted by bobabode

Quoted from your link, Mike.

"IF YOUR TIME IS SHORT
• Biden’s number is accurate; about one-fourth of the total debt incurred to date came on Trump’s watch."
Sounds like everything that comes after that is horsecrap. What I don't get is why you reflexively defend the naranja nitwit.

Oh well.

The key part of the article that you conveniently omitted:

A key point that Biden glossed over is that much of the current federal debt stems from mandatory payments, such as those for Social Security and Medicare. These began spiking when the baby boom generation started drawing heavily from these programs around 2010. Not coincidentally, that’s when the federal debt began accelerating.

Generations of politicians in both parties approved and modified these programs long before Trump took office.

"It is always challenging to figure out how much spending was on whose watch," said Steve Ellis, president of the federal budget-watching nonprofit group Taxpayers for Common Sense.

Similarly, the biggest single spikes in the federal debt came from the initial rounds of coronavirus relief legislation in 2020. Trump signed them, but they passed with broad bipartisan support.

Why are you lying, Bob?

[whell]

Originally Posted by nailer

There have been 13 surplus years since Hoover: 1998 -2001, 1969, 1957, 1956, 1951, 1949,1948, 1947, 1930 and 1929. https://www.thebalancemoney.com/us-d...y-year-3306306)

It would appear that the Democrats have the surplus lead at 7 to 6.

13 balanced budgets in just over 90 years is not a track record to admire.

[finnbow]

Originally Posted by whell

The key part of the article that you conveniently omitted

So, the 25% figure is indeed correct with added context. The other key point is that during Trumps term, Congress extended the debt limit 3 times without preconditions. Why did you fail to acknowledge that?

[bobabode]

Originally Posted by whell

The key part of the article that you conveniently omitted:

A key point that Biden glossed over is that much of the current federal debt stems from mandatory payments, such as those for Social Security and Medicare. These began spiking when the baby boom generation started drawing heavily from these programs around 2010. Not coincidentally, that’s when the federal debt began accelerating.

Generations of politicians in both parties approved and modified these programs long before Trump took office.

"It is always challenging to figure out how much spending was on whose watch," said Steve Ellis, president of the federal budget-watching nonprofit group Taxpayers for Common Sense.

Similarly, the biggest single spikes in the federal debt came from the initial rounds of coronavirus relief legislation in 2020. Trump signed them, but they passed with broad bipartisan support.

Why are you lying, Bob?

Why did you omit the real truth that was right in front of your face in your own link? You really have this nasty habit of lying directly and/or by omission. I guess you've had good teachers in the rightwing swill you so easily swallow.

PS Doesn't the Catholic church call that a sin?

[nailer]

Originally Posted by whell

13 balanced budgets in just over 90 years is not a track record to admire.

Weak deflection.

Hard to accept that the evidence shows both parties are the same when it comes to deficit spending?

[nailer]

Originally Posted by finnbow

So, the 25% figure is indeed correct with added context. The other key point is that during Trumps term, Congress extended the debt limit 3 times without preconditions. Why did you fail to acknowledge that?

Pretty sure we'd be pretty much in the same place deficit wise if Clinton had won in '16. Possibly even a tad worse.

[finnbow]

Originally Posted by nailer

Pretty sure we'd be pretty much in the same place deficit wise if Clinton had won in '16. Possibly even a tad worse.

And if chickens had lips they would not have to eat with their peckers. 😜

Seriously though, we know with near certainty that Democratic presidents would not have passed the budget-ballooning Dubya and Trump tax cuts.

[nailer]

Originally Posted by finnbow

And if chickens had lips they would not have to eat with their peckers. 😜

Seriously though, we know with near certainty that Democratic presidents would not have passed the budget-ballooning Dubya and Trump tax cuts.

Don't forget King Ronnie's Economic Recovery Tax Act of 1981 and Tax Reform Act of 1986. The inspiration for our last two GOP presidents.

[donquixote99]

Of course Reagan also raised SSA/Medicare taxes. A regressive hit on the working class, capped to hold the wealthy harmless. That alone should make him a truly hated president, but he was Teflon Ron.