National deficit by year. Way to go Joe

[edjr 6,651]

https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/#us-deficit-by-year

 

2020 makes sense. With all the ridiculous lockdowns. 

Can anyone explain why 2023 is more than 2022?  

[Horseman 2,576]

Inflation

[Beaker15 245]

Anyone voting blue is a moron

[Nomad99 768]

33 minutes ago, Horseman said:

Inflation

There is no inflation

[BeachGuy23 642]

Gee, I wonder what happens to our debt payments when interest rates are raised to beat back Trumpflation?  Why the cost of debt service goes up bigly which explains some of the higher spending.  Now a lot is just the government being the government too.

Also Trumpflation caused a massive increase in SS payments in '22.  That's part of the deal too.  Just be glad that Joe let the Fed do its work to beat back Trumpflation without crying like a lil' bish because the Fed rate was 2% like you know who.

Also, why did the debt go up bigly in every single year of Trump's term?   Man Obama the Great had the chit on the right path in '14-'16...

[RLLD 4,275]

The deficit is nothing new, there is currently no motivation for any elected politician to actually deal with it, and THAT is our real problem

[Cdub100 3,951]

This is why I own Bitcoin.

This is not a Dem vs Rep thing. It's the uniparty and both spend like it's free money. Because to the government, it is.

[Hardcore troubadour 15,555]

3 minutes ago, Cdub100 said:

This is why I own Bitcoin.

This is not a Dem vs Rep thing. It's the uniparty and both spend like it's free money. Because to the government, it is.

True. But Biden spends more. 

[edjr 6,651]

update

[double tour 90]

On 3/4/2024 at 12:21 PM, RLLD said:

The deficit is nothing new, there is currently no motivation for any elected politician to actually deal with it, and THAT is our real problem

Yes. The deficit is very bad for this country. Most don't even know this. It should be our #1 priority after shutting closed our borders. 

[MDC 7,559]

Kind of makes you appreciate Obama’s fiscal restraint. 

[BunnysBastatrds 2,495]

 These clowns mortgaged our kids and grandkids into debt they will never recover from in the years to come. Fawking sad beyond belief.

[TBayXXXVII 2,580]

On 3/4/2024 at 12:17 PM, BeachGuy23 said:

Gee, I wonder what happens to our debt payments when interest rates are raised to beat back Trumpflation?  Why the cost of debt service goes up bigly which explains some of the higher spending.  Now a lot is just the government being the government too.

Also Trumpflation caused a massive increase in SS payments in '22.  That's part of the deal too.  Just be glad that Joe let the Fed do its work to beat back Trumpflation without crying like a lil' bish because the Fed rate was 2% like you know who.

Also, why did the debt go up bigly in every single year of Trump's term?   Man Obama the Great had the chit on the right path in '14-'16...

Just so we're clear, GW tanked the economy, but Obama gets credit for the recovery (even though the economy still sucked).  Then Trump knocked it out of the park with the economy, but that was thanks to Obama.  BUT, Trump tanked the economy (so the economy still was bad?), and Biden recovered the economy (even though it sucks)?

[TBayXXXVII 2,580]

20 minutes ago, double tour said:

Yes. The deficit is very bad for this country. Most don't even know this. It should be our #1 priority after shutting closed our borders. 

They should go hand-in-hand.

[Hardcore troubadour 15,555]

Just now, TBayXXXVII said:

Just so we're clear, GW tanked the economy, but Obama gets credit for the recovery (even though the economy still sucked).  Then Trump knocked it out of the park with the economy, but that was thanks to Obama.  BUT, Trump tanked the economy, and Biden brought it back?

Yup. But you have to give Obama much more credit because what he did was vastly different than what Bush did. They both bailed out the banks, but what Obama did was much different. I’m not sure how, but it’s what we were told. 

[TBayXXXVII 2,580]

1 minute ago, Hardcore troubadour said:

Yup. But you have to give Obama much more credit because what he did was vastly different than what Bush did. They both bailed out the banks, but what Obama did was much different. I’m not sure how, but it’s what we were told. 

Obviously, he did it (D)ifferently.

[Hardcore troubadour 15,555]

2 minutes ago, TBayXXXVII said:

Obviously, he did it (D)ifferently.

Much more eloquent. 

[double tour 90]

7 minutes ago, TBayXXXVII said:

They should go hand-in-hand.

Borders 1A.

Deficit 1B.

In that order. But yes, it can be managed at the same time. 

[Hardcore troubadour 15,555]

Just now, double tour said:

Borders 1A.

Deficit 1B.

In that order. But yes, it can be managed at the same time. 

Deportation before deficit. 

[double tour 90]

1 minute ago, Hardcore troubadour said:

Deportation before deficit. 

Yes. My suggestion is to put our military at our border's trouble spots. And no more come in for at least the next 5 years. Make that known world wide and we can open up slowly as we see fit later. 

Get control of the courts and these future dates for illegals to show and shut down any person with dates more than a year out. Deport. Let the other ones play out but if any of them get arrested for anything they are gone. Let that be known in public service anouncements..

Stop supporting foreign countries and their wars unless we think some country is trying to take over the world and ALL allies of us are willing to equally fight with us. Or send money with us. Not like this Russia/Ukraine spat. 

Then we focus on oil independance and pay our debt. It's very feasable. 

 

[Hardcore troubadour 15,555]

Massachusetts won’t even turn over Pedophiles to ICE. They let them go.  

[easilyscan 948]

US Debt up 925.89% from 1990 to 2023. That isn't sustainable, & worse yet, the current number of 34 trillion doesn't include the current & future unfunded liabilities for SS & Medicare.

Even if you only start with 34T, If it continues to compound @ an annual rate of 28%, we'll hit 1 quadrillion sometime in 2037. 

https://www.statista.com/statistics/187867/public-debt-of-the-united-states-since-1990/

Gold hit an all-time high today & bitcoin is near it's all time high.

2,301.00 +43.90 (+1.94%)
 

 

 

 

 

 

 

 

[Ron_Artest 1,697]

US deficit grows to $291 billion in July despite tariff revenue surge | Reuters https://share.google/oI2PygqFht2x49nmA

US debt tops $37 trillion for first time as OBBBA adds room for more | Fox Business https://share.google/FVAnZvqxMz4O8sUIO

Way to go...Joe?

[edjr 6,651]

1992	$4,065	
1993	$4,411	Omnibus Budget Reconciliation Act
1994	$4,693	Clinton budgets
1995	$4,974	
1996	$5,225	Welfare reform
1997	$5,413	
1998	$5,526	Long-Term Capital Management crisis; recession
1999	$5,656	Glass-Steagall Act repealed
2000	$5,674	Budget surplus
2001	$5,807	9/11 attacks; Economic Growth and Tax Relief Reconciliation Act
2002	$6,228	War on Terror
2003	$6,783	Jobs and Growth Tax Relief Reconciliation Act; second Iraq War
2004	$7,379	Second Iraq War
2005	$7,933	Bankruptcy Act; Hurricane Katrina
2006	$8,507	Bernanke chaired Fed
2007	$9,008	Banks crisis
2008	$10,025	Bank bailouts; quantitative easing (QE)
2009	$11,910	Bailout cost $250 billion; American Recovery and Reinvestment Act (ARRA) added $242 billion
2010	$13,562	ARRA added $400B; payroll tax holiday ended; Obama tax cuts; Affordable Care Act; Simpson-Bowles debt reduction plan
2011	$14,790	Debt crisis, recession, and tax cuts reduced revenue
2012	$16,066	Fiscal cliff
2013	$16,738	Sequester; government shutdown
2014	$17,824	QE ended; debt ceiling crisis
2015	$18,151	Oil prices fell
2016	$19,573	Brexit
2017	$20,245	Congress raised the debt ceiling
2018	$21,516	Trump tax cuts
2019	$22,719	Trade wars
2020	$26,945	COVID-19 and recession
2021	$28,428	COVID-19 and American Rescue Plan Act
2022	$30,928	Inflation Reduction Act
2023	$33,167	Rising interest rates
2024	$35,464	Credit rating downgrade

In Billions 

https://www.investopedia.com/us-national-debt-by-year-7499291

[easilyscan 948]

7 hours ago, edjr said:

1992	$4,065	
1993	$4,411	Omnibus Budget Reconciliation Act
1994	$4,693	Clinton budgets
1995	$4,974	
1996	$5,225	Welfare reform
1997	$5,413	
1998	$5,526	Long-Term Capital Management crisis; recession
1999	$5,656	Glass-Steagall Act repealed
2000	$5,674	Budget surplus
2001	$5,807	9/11 attacks; Economic Growth and Tax Relief Reconciliation Act
2002	$6,228	War on Terror
2003	$6,783	Jobs and Growth Tax Relief Reconciliation Act; second Iraq War
2004	$7,379	Second Iraq War
2005	$7,933	Bankruptcy Act; Hurricane Katrina
2006	$8,507	Bernanke chaired Fed
2007	$9,008	Banks crisis
2008	$10,025	Bank bailouts; quantitative easing (QE)
2009	$11,910	Bailout cost $250 billion; American Recovery and Reinvestment Act (ARRA) added $242 billion
2010	$13,562	ARRA added $400B; payroll tax holiday ended; Obama tax cuts; Affordable Care Act; Simpson-Bowles debt reduction plan
2011	$14,790	Debt crisis, recession, and tax cuts reduced revenue
2012	$16,066	Fiscal cliff
2013	$16,738	Sequester; government shutdown
2014	$17,824	QE ended; debt ceiling crisis
2015	$18,151	Oil prices fell
2016	$19,573	Brexit
2017	$20,245	Congress raised the debt ceiling
2018	$21,516	Trump tax cuts
2019	$22,719	Trade wars
2020	$26,945	COVID-19 and recession
2021	$28,428	COVID-19 and American Rescue Plan Act
2022	$30,928	Inflation Reduction Act
2023	$33,167	Rising interest rates
2024	$35,464	Credit rating downgrade

In Billions 

https://www.investopedia.com/us-national-debt-by-year-7499291

What could possibly go wrong ?

Don't forget current and future unfunded liabilities for Social Security and Medicare. 175 trillion