Debt


howeda7

Well-known member
Joined
Nov 22, 2008
Messages
57,965
Reaction score
13,697
Points
113
In an exclusive interview with Yahoo Finance, Trump said the prospect of a government default, which could plunge the country into a recession, can and should be a Republican lever to stop the Democratic spending efforts, including the multitrillion-dollar package of social spending currently being debated in Congress.

Trump on debt: 'A grave threat'

Also left unmentioned by Trump was his own role in the current debt predicament. The former president’s focus on fighting deficits comes after his 4 years in office when, according to data from the Federal Reserve, the national debt rose by roughly $7.8 trillion.

Trump entered the White House promising to eliminate the U.S. debt in 8 years, but ended up adding about $23,500 in new federal debt for every person in the country.

Trump’s budget proposal for 2020 called the debt – then at about $22 trillion – a “grave threat to our economic and societal prosperity.” By the time he left office, it had grown to about $27.7 trillion and is approaching $29 trillion today.


Trump full of s as usual.
Awaiting KGF's cartoon of Trump as a giant hog for blowing up the debt.
 

howeda7

Well-known member
Joined
Nov 22, 2008
Messages
57,965
Reaction score
13,697
Points
113
So a dem control Congress was responsible for nearly all of his debt during his term. Makes sense.
Actually a massive tax cut with zero spending cuts passed entirely by the GQP is responsible.
 




Angry

Well-known member
Joined
Apr 8, 2012
Messages
2,262
Reaction score
662
Points
113
Actually a massive tax cut with zero spending cuts passed entirely by the GQP is responsible.
The tax cut ended up bringing more money back to U.S. markets so it more than paid for itself.
 





Top Bottom