National Debt Increased by $3 Trillion During Donald Trump's Three Years as President

originally posted by: MiddleInsite
a reply to: gladtobehere

Under Clinton, there was a surplus. Obama took on an ecomomy losing one million jobs A MONTH. Obama put two wars "on the books" and bailed out the entire Country to the tune of 1.5 Trillion. And it worked. Trump gaves his rich friends more money and increased the debt 3 Trillion.

Clinton's surplus was driven by a Republican Congress and Senate. Remember the Contract with america under Newt Gingrich? Yes, Bill gets credit but let's not ignore that the budget comes out of Congress.

Economy failed under Bush due to housing crash which was driven in no small part due to liberal policies. Remember, Bush had been trying to reign in Fannie Mae and Freddie Mac but kept being blocked by the left...

Obama's recovery was very lackluster. Economy recovered IN SPITE OF Obama, not because of Obama. If anything, it showed how resilient free markets can be.

TRUMP unleashed the economy hence the massive stock growth. He put more confidence in the markets.

Both parties dont care to balance budget. It wont get done as long as people have an incentive not too. My wife is an exec at a Fortune 25 company. She just got told to reduce her dept budget by 10% which means firing a few people. Govt budgets dont operate under the same pressure.

A 10% reduction in govt speak means a 10% reduction in growth not a reduction in the actual budget.

originally posted by: CriticalStinker
a reply to: rickymouse

Obama increased it a lot...

Bush gets forget a lot in this equation though. The whole Iraq war was loaned.

The wholy trinity of presidents will be known for basically increasing our debt by ten or twenty fold though.

Bush, Obama, Trump.

Very True.

originally posted by: rickymouse

originally posted by: CriticalStinker
a reply to: rickymouse

Obama increased it a lot...

Bush gets forget a lot in this equation though. The whole Iraq war was loaned.

The wholy trinity of presidents will be known for basically increasing our debt by ten or twenty fold though.

Bush, Obama, Trump.

Very True.

While that's largely true, the wars get way more blame for the debt than they should. Even with the wars, military spending only accounts for about 20% of our federal spending every year. Most of our debt is due to domestic spending.

What you want him to do? Shutdown the government over the budget?

originally posted by: face23785

originally posted by: rickymouse

originally posted by: CriticalStinker
a reply to: rickymouse

Obama increased it a lot...

Bush gets forget a lot in this equation though. The whole Iraq war was loaned.

The wholy trinity of presidents will be known for basically increasing our debt by ten or twenty fold though.

Bush, Obama, Trump.

Very True.

While that's largely true, the wars get way more blame for the debt than they should. Even with the wars, military spending only accounts for about 20% of our federal spending every year. Most of our debt is due to domestic spending.

They are putting quite a few Roundabouts here at millions of bucks a pop, plus extra maintenance costs to plow them. They do not speed things up much more than the lights and in some cases, make it worse during rush hours. They have lots more accidents than they lights had, if they would have reduced the speed coming up to the stoplights like they did now with the roundabouts, it would have been way better. But the state would not allow them to reduce the speed on the highway before the lights, but does allow them to do it before the roundabouts. The money spent on those roundabouts would have fixed many many miles of highways. Around here because of the severe winters, roundabouts are stupid.

We need to fix things to stop waste. two signs could have made the existing lights safer, it cost three million bucks to build the roundabout. Most people here think they are stupid and are leery of getting in an accident on them.

a reply to: face23785

Hahaha... someone on this site said partisan rhetoric... wow

a reply to: rickymouse

They put some pointless roundabouts in where I'm from in northeast PA as well. Everyone hates them. They can be effective under very specific circumstances but it seems they're often used for aesthetic reasons instead. Just another example of why you can't trust government to do anything.

The house writes the budget and controls the purse strings. 2nd

National debt for fiscal year under Obama .

2008.....1 trillion
2009.....1.6 trillion
2010....,1.9 trillion

Total 4.5 trillion

Trump first three years 3 trillion per your source

I believe that adds up to Winning!!!

Yawn...

***The national debt has increased significantly under both the Bush and Obama administrations, increasing about 101 percent from the end of Clinton's administration to the end of Bush's. Republicans criticized Obama for doubling debt by nearly $9 trillion.

***According to CRFB President Maya McGuineas, the deficit would have increased under Trump, even if he hadn't signed any legislation. 

a reply to: gladtobehere

I suggest you write the Democrat controlled House and talk to them about it.

Neither party will do anything to curtail spending because taking away freebies will get you voted out of office. If you think the President controls the budget you are mistaken.

I'd also like to point out that those blaming the tax cuts are uninformed. Even if you believe CBO's numbers, which CBO is often wrong, the tax cuts only added about 10% onto the deficit. The rest is due to overspending, largely on the domestic side.

Why are you forgetting or flat out ignoring who holds the purse strings ?

The House.

And last time I checked.

They hate the ever living hell of the Guy and just failed at trying to impeach.

If debt is such a problem now.

What the hell do you think is going to happen to if if Sanders,Warren,Buttigeg get elected to the oval?

And start 'forgiving' student loans and start passing out free snip like Facebook likes.

originally posted by: neo96
Why are you forgetting or flat out ignoring who holds the purse strings ?

The House.

And last time I checked.

They hate the ever living hell of the Guy and just failed at trying to impeach.

If debt is such a problem now.

What the hell do you think is going to happen to if if Sanders,Warren,Buttigeg get elected to the oval?

And start 'forgiving' student loans and start passing out free snip like Facebook likes.

Oh don't you know? The Left can fix everything by just cutting the military and raising taxes on "the rich."

The Left can't math. You could cut the military budget to 0 and we'd still have a deficit. And the rich don't have enough money to pay for all their handouts, even if you raised the top tax rate to 90% again.

a reply to: face23785

Actually, I expect if you stopped foreign wars, that’s about 7 trillion over the last decade, the bank bailouts, that’s about 16 trillion, and the tax cut every president, including Obama, gives when they get into office, which generally amount to 5 trillion dollars each, that altogether would fund the giveaways and provide massive growth to the us economy as a whole. The real us economy, which is a stronger consumer base and purchasing power, not the fake metrics of “how is the stock market doing”.

originally posted by: pexx421
a reply to: face23785

Actually, I expect if you stopped foreign wars, that’s about 7 trillion over the last decade, the bank bailouts, that’s about 16 trillion, and the tax cut every president, including Obama, gives when they get into office, which generally amount to 5 trillion dollars each, that altogether would fund the giveaways and provide massive growth to the us economy as a whole. The real us economy, which is a stronger consumer base and purchasing power, not the fake metrics of “how is the stock market doing”.

Then you'd expect wrong. That'll happen when you pull numbers out of thin air.

For example, the tax cuts under Trump were projected to cost between $1 and $2T over 10 years, or about $100-200 billion a year, depending on whose estimate you believe. (It should be noted CBO's estimate factored in economic growth averaging just 1.8% over 10 years. If growth is higher than that, which it is, the whole estimate would be wrong).

The Iraq War cost a little over $1T.

Where did you read the bailouts cost $16T? The entire budget is $4T a year. It would've taken the entire federal budget 4 years in a row to pay $16T.

ETA: Also, the stock market is not the only measure that people use to tout the fact that the economy is in good shape. That's a DNC talking point, and a false one. Open your mind. The economy is doing good by nearly every metric imaginable, that's undeniable.

a reply to: face23785

Except there are plenty metrics showing it’s not doing good. There’s increased suicide rates. Increased addiction. Lowering life expectancy. Massive public and personal debt. Decline in the quality of jobs. Low workforce participation. Critically low investments in industry and manufacturing. And if gdp was accounted correctly, by subtracting interest, penalty charges, increased rents etc, rather than adding them, because they remove profit from the economy rather than adding it, gdp would be decreasing too.

a reply to: gladtobehere

And it increased 10 Trillion during 8 years of Obama...You got a point you're trying to make???

a reply to: face23785

Also, we’ve had way more wars than just Iraq. And the trump tax cuts are projected to cost us 5.5 trillion through 2029. At any rate, where I get my numbers is besides the point because all you have to do is google any of it and a various set of estimates will be provided to you. It’s easy to find, we all have access to the same info. “I don’t know where you get your numbers” sure. I get them the same place you do. The silicon god of all knowledge and trivia.

originally posted by: Fallingdown
National debt for fiscal year under Obama .

2008.....1 trillion
2009.....1.6 trillion
2010....,1.9 trillion

Total 4.5 trillion

Trump first three years 3 trillion per your source

I believe that adds up to Winning!!!

Obama added the most dollar amount of debt than any other president, at a little less than 9 trillion in eight years.

Trump may or may not beat that.

Doesn't look like winning to me.