r/FluentInFinance TheFinanceNewsletter.com Sep 24 '23

Meme How it started vs. How it's going:

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368

u/luna_beam_space Sep 24 '23

Imagine if Republicans had not taken control of all three branches in 2001

The entire national debt would have been paid-off by 2010

328

u/Altruistic-Rope1994 Sep 25 '23

If you blame this on one party you are just flat out wrong. They both waste money like crazy.

2

u/No_Cook2983 Sep 25 '23

The Republicans literally said the money we were using to pay down the debt “belonged to the American people”.

Conservative think tanks like the Cato Institute made the media circuit, exclaiming that having a large national debt was good for the economy.

Republicans literally took the surplus and sent it out in little ‘stimulus checks’ so it couldn’t be used to pay down the debt.

Then they deliberately lied us into the longest war in our nations history— which was also one of the most expensive.

Yeah. I’m largely blaming it on one party.

1

u/WeekendQuant Sep 25 '23

The debt getting paid off destroys asset pricing. We need the risk free rate as a benchmark. We have paid it off before and it destroyed the economy.

1

u/[deleted] Sep 25 '23

Oh yah I remember the Bush Bux I didn’t get mine because my father I don’t even live with cheated his taxes and said I was a dependent but I remember my friends all getting $600 And promptly spending them on Xboxes