Crash the train to stop it

[whell]

Originally Posted by Chicks

Claim: Roughly 25% of the nation's debt was incurred during the Trump Administration.
Rating: True

https://www.snopes.com/fact-check/tr...bt-25-percent/

From your post:

It is misleading to invoke 230 years of history when discussing the present national debt, in part because a large chunk of the $31 trillion debt (at the time of this reporting) was incurred over the past two decades. That being said, it is factual that roughly 25% of the current debt was accrued during the Trump administration.

But hey, I get it. $31 trillion is a gigantic number that most folks can't wrap their heads around. Trump added just over $6.7 trillion, and most folks can't wrap their heads around that number either.

So, who CAN wrap their heads around dollar signs that big? Why, Obama can.

Under President Obama, the national debt grew the most in dollar terms ($8.6 trillion) and was fifth by percentage at 74%. Obama fought the Great Recession with an $831 billion economic stimulus package and added $858 billion through tax cuts. Even though the fiscal year 2009 budget was set by President Bush, Obama added to it with the Economic Stimulus Act in 2009.

So Chicklet, why are you so upset about Trump, when Obama beat his number by almost $2 trillion?

Oh and so far Joey B has added about $3.5 Trillion to the debt, and we're only halfway through his 4 year term. At that rate, his contribution to the debt will eclipse Trump. Why aren't you similarly upset about that, Chickie?

[init4fun]

Hello Mr. Whell,

Mr. Obama had 8 years to run up his $8.6 T, whereas Mr. Trump ran up his $6.7 T in only 4 years, so had Mr. Trump gotten his second term perhaps his number would have been $13.4 T. I don't see where any of those figures should be comfortable, or comforting, to anybody.....

[bobabode]

Originally Posted by whell

From your post:

It is misleading to invoke 230 years of history when discussing the present national debt, in part because a large chunk of the $31 trillion debt (at the time of this reporting) was incurred over the past two decades. That being said, it is factual that roughly 25% of the current debt was accrued during the Trump administration.

But hey, I get it. $31 trillion is a gigantic number that most folks can't wrap their heads around. Trump added just over $6.7 trillion, and most folks can't wrap their heads around that number either.

So, who CAN wrap their heads around dollar signs that big? Why, Obama can.

Under President Obama, the national debt grew the most in dollar terms ($8.6 trillion) and was fifth by percentage at 74%. Obama fought the Great Recession with an $831 billion economic stimulus package and added $858 billion through tax cuts. Even though the fiscal year 2009 budget was set by President Bush, Obama added to it with the Economic Stimulus Act in 2009.

So Chicklet, why are you so upset about Trump, when Obama beat his number by almost $2 trillion?

Oh and so far Joey B has added about $3.5 Trillion to the debt, and we're only halfway through his 4 year term. At that rate, his contribution to the debt will eclipse Trump. Why aren't you similarly upset about that, Chickie?

Wow. Your lies are getting more blatant, Mike.

[Dondilion]

Originally Posted by init4fun

Hello Mr. Whell,

Mr. Obama had 8 years to run up his $8.6 T, whereas Mr. Trump ran up his $6.7 T in only 4 years, so had Mr. Trump gotten his second term perhaps his number would have been $13.4 T. I don't see where any of those figures should be comfortable, or comforting, to anybody.....

Fail State?

[Chicks]

Why does the United States owe so much debt?
Continued decreases in the amount of taxes paid by corporations and the wealthiest Americans have resulted in less money coming in. At the same time, spending on pandemic relief and the military continues to increase.

It's a very simple equation. Vote the Repubes out of office, dramatically raise taxes on the wealthy and corporations, and the deficit will dramatically decrease. Trickle-down simply hasn't ever worked, despite having fervent believers in this myth like our boy Whell.

[Chicks]

Republicans would like you to believe they care about the national debt again
"Debt ceiling showdowns aren't a mechanism for exacting spending concessions and imposing discipline. They're performances. An opportunity to entertain the rubes, drink liberal tears, etc., etc."
https://www.inforum.com/opinion/colu...nal-debt-again

[bobabode]

Originally Posted by Dondilion

Fail State?

Boosh or Trump?

[donquixote99]

OK, let's say the Federal Deficit will be $2 trillion this year. I think it will be less, but let's keep in simple. The US GDP this year will be something over $25 trillion. We'll just say $25 trillion, again to keep in simple. So, dividing 2 by 25 tells me we can erase the deficit more or less totally by increasing taxes by 8% of GDP.

For perspective, OECD data says in 2021 the US was the 7th lowest of the 38 OECD countries in tax as a % of GDP. Our ratio in 2021 was 26.6%. Raising that by 8% would take us to just a bit over the OECD average in that year, which was 34.1%. OECD data

So erasing the deficit is a big can-do, if it's as important as people think to do that. Just have to raise taxes some. Progressively now, none of that flat tax nonsense....

[Dondilion]

Originally Posted by donquixote99

OK, let's say the Federal Deficit will be $2 trillion this year. I think it will be less, but let's keep in simple. The US GDP this year will be something over $25 trillion. We'll just say $25 trillion, again to keep in simple. So, dividing 2 by 25 tells me we can erase the deficit more or less totally by increasing taxes by 8% of GDP.

For perspective, OECD data says in 2021 the US was the 7th lowest of the 38 OECD countries in tax as a % of GDP. Our ratio in 2021 was 26.6%. Raising that by 8% would take us to just a bit over the OECD average in that year, which was 34.1%. OECD data

So erasing the deficit is a big can-do, if it's as important as people think to do that. Just have to raise taxes some. Progressively now, none of that flat tax nonsense....

The wealthy and corporations have bought both Repugs and Dems. Raising the required taxes on the powerful elite in the present matrix is nigh impossible.
The massive printing of fiat especially in the last 15 years has highlighted the conundrums in the economy.

[Oerets]

With the consumption tax as one of their answers to the deficit. My hope the country will finally see thru the misdirection and lies. For once again this party shows the expectation of not having to pay their way. Perfectly willing to sponge off everyone else.

Much like those with means protecting their assets from seizure forfeiture when long term care is in need. Forcing the rest of us to pay. If the expectation of care without losing your nest egg is how you feel. What makes yo special? Should this not be available to everyone. Or is "so************************m" only OK when you are benefiting mooching off others?

Getting rid of tax collectors or the hiring of. Another stupid answer to fixing the nations money woes.