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U.S. National Debt Tops $31 Trillion for First Time. Way to go Joe

Dawg

President
Supporting Member
and with rising interest rates Biden is acting like a kid in a candy store
 

worldlymrb

Fvck Joe Biden
Trump sends the debt skyrocketing, Biden reduces the Trump deficits, and Trump cultists blame….drumroll please….Biden!

;-)
Difference is... Trump was paying a 0% interest rate on the debt while traitor Joe is paying 5%.

This will make paying interest on the debt the third largest expenditure in the U.S Budget
 

Bugsy McGurk

President
Difference is... Trump was paying a 0% interest rate on the debt while traitor Joe is paying 5%.

This will make paying interest on the debt the third largest expenditure in the U.S Budget
0%?

Anyway, rates have gone up, and the higher rates apply to all of the debt. Do you blame Biden for the higher rates?
 

Dawg

President
Supporting Member
is he the ONLY president to have a deficit ? I will go get the popcorn and wait..........
Only President to have $31 Trillion while spending money like a kid in a candy store presently. hell, he bypassed Congress to spend $400billion like a King
 

EatTheRich

President
For perspective

Average percentage national debt increase by president per fiscal year

Biden: 7.5%
Trump: 8.9%
Obama: 7.2%
Bush 43: 19.1%
Clinton: 3.5%
Bush 41: 11.4%
Reagan: 14.0%
Carter: 9.3%
Ford: 13.7%
Nixon: 6.0%
Johnson: 2.5%
Kennedy: 2.5%
Eisenhower: 1.0%
Truman: 0.3%
Roosevelt: 22.6%
Hoover: 7.6%
Coolidge: -3.6%
Harding: -3.3%
Wilson: 30.1%
Taft: 3.6%

Putting Biden 3rd among the last 5, 7th among the last 10, or 10th among the last 20 for increasing debt
 

Boltlady

Mayor
All this means is that he is no better than his recent predecessors or Congress, none of which take national debt seriously.
You are so correct on this. Both parties spend like crazy without giving enough consideration about how and when (if ever), it will get paid back. Agreeing to spending bills without even knowing what's in them has a lot to do with that. It would be really useful if we could eliminate last minute additions (pork).
 

EatTheRich

President
You are so correct on this. Both parties spend like crazy without giving enough consideration about how and when (if ever), it will get paid back. Agreeing to spending bills without even knowing what's in them has a lot to do with that. It would be really useful if we could eliminate last minute additions (pork).
Revenue is also way down due to 40 years of reckless income tax cuts.
 

middleview

President
Supporting Member
For perspective

Average percentage national debt increase by president per fiscal year

Biden: 7.5%
Trump: 8.9%
Obama: 7.2%
Bush 43: 19.1%
Clinton: 3.5%
Bush 41: 11.4%
Reagan: 14.0%
Carter: 9.3%
Ford: 13.7%
Nixon: 6.0%
Johnson: 2.5%
Kennedy: 2.5%
Eisenhower: 1.0%
Truman: 0.3%
Roosevelt: 22.6%
Hoover: 7.6%
Coolidge: -3.6%
Harding: -3.3%
Wilson: 30.1%
Taft: 3.6%

Putting Biden 3rd among the last 5, 7th among the last 10, or 10th among the last 20 for increasing debt
Reagan/Bush quadrupled the national debt from September 1981 to September 1993. We owed $900 billion when they started.

Cheney Was Right About One Thing: Deficits Don’t Matter

Cheney Was Right About One Thing: Deficits Don't Matter (truthout.org)
 

Bugsy McGurk

President
For perspective

Average percentage national debt increase by president per fiscal year

Biden: 7.5%
Trump: 8.9%
Obama: 7.2%
Bush 43: 19.1%
Clinton: 3.5%
Bush 41: 11.4%
Reagan: 14.0%
Carter: 9.3%
Ford: 13.7%
Nixon: 6.0%
Johnson: 2.5%
Kennedy: 2.5%
Eisenhower: 1.0%
Truman: 0.3%
Roosevelt: 22.6%
Hoover: 7.6%
Coolidge: -3.6%
Harding: -3.3%
Wilson: 30.1%
Taft: 3.6%

Putting Biden 3rd among the last 5, 7th among the last 10, or 10th among the last 20 for increasing debt
And let us recall that Clinton left behind surpluses for GWB, and GWB and the GOP promptly converted those surpluses into then-record deficits, principally through massive tax cuts for the fatcats. They should regret that, but I’m sure they don’t.
 

middleview

President
Supporting Member
And let us recall that Clinton left behind surpluses for GWB, and GWB and the GOP promptly converted those surpluses into then-record deficits, principally through massive tax cuts for the fatcats. They should regret that, but I’m sure they don’t.
And then GWB left an economy circling the drain in 2009 with huge spending bills being passed by congress that would be implemented over the next three years. So a declining federal revenue stream and an increasing demand on federal money.

The time for federal austerity is when the economy is doing well....like in 2002/2003. Instead Bush got a big tax cut and increased spending.

Trump got a steadily improving economy and declining unemployment and instead of limiting spending and allowing the debt to be a target, he jacks up the deficit with a tax cut.
 
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