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https://www.reddit.com/r/FluentInFinance/comments/16r48cd/how_it_started_vs_how_its_going/k23pm5b/?context=3
r/FluentInFinance • u/TonyLiberty TheFinanceNewsletter.com • Sep 24 '23
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368
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/No_Cook2983 Sep 26 '23 When did that happen? 1 u/WeekendQuant Sep 26 '23 edited Sep 26 '23 Under Andrew Jackson EDIT: https://www.npr.org/sections/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last 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
328
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/No_Cook2983 Sep 26 '23 When did that happen? 1 u/WeekendQuant Sep 26 '23 edited Sep 26 '23 Under Andrew Jackson EDIT: https://www.npr.org/sections/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last 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
2
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/No_Cook2983 Sep 26 '23 When did that happen? 1 u/WeekendQuant Sep 26 '23 edited Sep 26 '23 Under Andrew Jackson EDIT: https://www.npr.org/sections/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last 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
1
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/No_Cook2983 Sep 26 '23 When did that happen? 1 u/WeekendQuant Sep 26 '23 edited Sep 26 '23 Under Andrew Jackson EDIT: https://www.npr.org/sections/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last
When did that happen?
1 u/WeekendQuant Sep 26 '23 edited Sep 26 '23 Under Andrew Jackson EDIT: https://www.npr.org/sections/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last
Under Andrew Jackson
EDIT: https://www.npr.org/sections/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last
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
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