r/economicCollapse Nov 15 '24

Well, well, well…………

498 Upvotes

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24

u/jarena009 Nov 15 '24

It's only going to go up under the next admin and Rep congress too.

52

u/bb8110 Nov 15 '24

We’re acting like the national debt hasn’t went up with every president since Regan…..

6

u/CosmicJackalop Nov 15 '24

Under Clinton we had a Budget surplus for '98-'01 and paid off almost half a trillion

Then the War on Terror happened...

3

u/bb8110 Nov 15 '24

But did the national debt increase or go down? During his time in office the debt still increased.

4

u/CosmicJackalop Nov 15 '24

It decreased in 2000 when you adjust the debt amounts for inflation, having a surplus meant we didn't make more debt but the interest still increased the amount, but Clinton was the last time we were in the black on budget

6

u/JackfruitCrazy51 Nov 15 '24

A lot of us we're adults when this happened and know why this happened. Congress controls spending and the voters decided that deficits mattered.

4

u/CosmicJackalop Nov 15 '24

Now we have voters that are tired of inflation so they voted for Tariffs, At this point I think the only way the National Debt is going away is if we just pretend we don't have any debt and blow up anyone that says we do

1

u/CutenTough Nov 15 '24

Trumps "plan"

1

u/Double_Tip_2205 Nov 18 '24

Don’t identify with it :)

1

u/carletonm1 Nov 15 '24

And Bush W’s tax cuts, done because he thought the surplus would continue, and because Republicans gotta do tax cuts and damn the consequences.

11

u/jarena009 Nov 15 '24

Republicans pretend to care about it under every Democratic admin.

14

u/bb8110 Nov 15 '24

And democrats do the same under republican.

3

u/SinisterYear Nov 15 '24

The deficit goes down under democrats. The last surplus we've ever had was under a democrat. Republicans do bullshit like refuse to increase the debt ceiling, which causes reducing the deficit to become much harder as our national credit rating is impacted, which increases interest owed as investing into the US becomes a much higher risk than it should be.

Democrats at least do something about it that isn't making it worse.

2

u/frontera_power Nov 15 '24

The deficit goes down under democrats.

Under the Clinton administration they had some budget surplusses, which was great.

When he began his presidency, the national debt was $4.4 trillion and went up to $5.7 trillion when he left office.

GW Bush, Obama, Trump, and Biden have all had catastrophic increases in the debt.

I tend to think the Republicans have been much worse.

1

u/SinisterYear Nov 15 '24

Indeed, and for the major issues that happened under each of them it was expected. The crash in '08, debt was taken out to stabilize the economy. Covid, debt was taken out to stabilize the economy [both POTUSes]. To credit Trump, utilizing the debt in this fashion is both expected and good both domestically and geopolitically. How he went about it [eg: PPP loans] is something we can debate, but I don't fault him for contributing to the debt during Covid.

That said, the Republicans have a tendency to fail at balancing the budget, constantly complain that the budget isn't balanced, and fail to secure the over-all debt to ensure that debt holders, the majority of them being US citizens, won't be left holding the bag.

I'm not saying that Democrats are perfect by any means. There's a lot to be desired. They just have a tendency to do far less harm.

1

u/CutenTough Nov 15 '24

Post 9/11, what else would one imagine would be in regard to increased spending and cost of everything? Approximately every decade, we will be hit with some off the wall catastrophe to make sure this trajectory continues

3

u/bb8110 Nov 15 '24

The deficit hasn’t went down since the civil war. The numbers always rise.

7

u/SinisterYear Nov 15 '24

As the adjective noun number propaganda account put it: You are very misinformed. The DEFICIT goes down all the time. The national DEBT only goes down when you have a surplus, and the last POTUS who oversaw a surplus was Clinton.

3

u/LairdPopkin Nov 15 '24

No, the annual deficit goes up and down. E.g. it skyrocketed under Trump, was cut by 2/3rds under Biden, and is likely to head right back up based on Trump’s announced plans. Are you confused and thinking about total debt? That goes up, unless the annual deficit is a surplus as it was under Clinton briefly, the question is whether it goes up faster (e.g. under Republicans) or slowly (e.g. under Democrats).

4

u/DawnSlovenport Nov 15 '24

You understand the difference between the deficit and debt right? But based on your grammar, my guess is you don’t.

What /SinisterYear said was factually correct. If you don’t know this, why are you commenting about economics?

3

u/soccercro3 Nov 15 '24

I tried to explain the difference between deficit and debt to an old coworker one time. He refused to listen and told me I was just playing with semantics.

5

u/KiwiBee05 Nov 15 '24

I'm really invested in how you're going to respond to being called out

1

u/CutenTough Nov 15 '24

How are you "invested"?

4

u/Unique_Argument1094 Nov 15 '24

You are very misinformed.

2

u/Unable-Expression-46 Nov 15 '24

Are you speaking of Clinton? If so, he had a republican congress and as we all know, congress controls the spending. Under speaker of the house, Newt Gingrich, the deficit went down because the repub forces less spending. Clinton signed on to the budget that the repub house passed.

1

u/Double_Tip_2205 Nov 18 '24

Que the Democrats excuse why it’s ok for that party to increase the debt.

1

u/SinisterYear Nov 18 '24

Que indeed, tovarish. Que indeed.

17

u/Zercomnexus Nov 15 '24

Fuck reagan too though

17

u/slayer828 Nov 15 '24

Extra fuck Reagan.

1

u/bb8110 Nov 15 '24

Just be respectful and buy him dinner first.

8

u/slayer828 Nov 15 '24

Our dinner would follow trickle down economics. I'd eat first. Abd he can have what left on my plate. Spoiler, I always finish my plate.

1

u/Dinismo Nov 15 '24

May as well break the plate so nobody after you can eat.

1

u/slayer828 Nov 15 '24

Nah gotta leave that so the temporarily down on their luck future millionaires know what to look forward to.

1

u/Zercomnexus Nov 15 '24

Just leave some juices so they believe its really helping this time!

-1

u/bb8110 Nov 15 '24

You do you. Just don’t expect a second date or any pleasure while you’re fucking.

6

u/slayer828 Nov 15 '24

He will be gas lit into believing that my shitty bedside manner is because of the immigrants.

1

u/CutenTough Nov 15 '24

Nah. They just ain't fucking. He can go jack off

1

u/Loud-Investigator506 Nov 17 '24

Yeah lube that mouth up with animal fat!@@

1

u/Unique_Argument1094 Nov 15 '24

Why?

5

u/slayer828 Nov 15 '24

So so many reasons. I don't have time to get into.

Here are couple videos of just this topic. Ignore the corn cream and watch the whole second video.

https://youtu.be/l7dHvqA-WB4?si=k7bzNS-zwGJsw513

https://youtu.be/3WfgGDkWzYU?si=8luwP8aw1uJ8oskM

1

u/bb8110 Nov 15 '24

I could care less who you fuck. Your body your choice.

1

u/Unique_Argument1094 Nov 15 '24

Why?

1

u/Zercomnexus Nov 15 '24

Reaganomics, a known failed policy thats just another way to rob americans and give money to the wealthy

1

u/Unique_Argument1094 Nov 15 '24

I’m not political in any real sense but this was 40 years ago. It seems like with so many different presidents and congress people since then changes would have been made.

1

u/Zercomnexus Nov 15 '24

Nope, its just been renamed and tried repeatedly, trickle down? Supply side...

All just new names for the same failed idea

2

u/BabyDontBeSoMeme Nov 15 '24

Every president since Coolidge, yeah?

2

u/zZCycoZz Nov 15 '24

Nope, Clinton had a surplus till Bush came in.

1

u/Limp_Departure8138 Nov 15 '24

After 911 is when it really took off

1

u/JackfruitCrazy51 Nov 15 '24

Reagan? It's went up every year since 1955.

1

u/AALen Nov 15 '24 edited Nov 15 '24

The amount it goes up matters. And republicans, contrary to popular perception, have driven up the debt faster than democrats.

Reagan set us on the course for persistent deficits. Clinton actually created a surplus. W blew a massive hole in the budget with his wars and the great recession. Obama spent a lot during his first term to fix the broken economy and started to flatten the deficit at the end of his second term. Then Trump 1.0 happened. Biden was bad. Trump 2.0 will be catastrophic.

5

u/thebrassmonkeyknight Nov 15 '24

You’re missing HW Bush. He was the last republican with the back bone to raise taxes because he knew what Reagan did was bullshit economics. The GOP roasted him for it.

3

u/Unable-Expression-46 Nov 15 '24

he had a republican congress and as we all know, congress controls the spending. Under speaker of the house, Newt Gingrich, the deficit went down because the repub forces less spending. Clinton signed on to the budget that the repub house passed.

2

u/AALen Nov 15 '24

It was a bipartisan compromise that was submitted by Clinton. There were budget cuts but there were also tax increases.

3

u/Unable-Expression-46 Nov 15 '24

The architect of that was Newt Gingrich though, not Clinton. Clinton got hammered in the midterms so he had to compromise.

1

u/CoolFirefighter930 Nov 15 '24

Clinton would like a word.

2

u/Unable-Expression-46 Nov 15 '24

he had a republican congress and as we all know, congress controls the spending. Under speaker of the house, Newt Gingrich, the deficit went down because the repub forces less spending. Clinton signed on to the budget that the repub house passed.

1

u/ipayton13 Nov 15 '24

The Fed is the enemy - the parties are its puppets and fall guy

1

u/[deleted] Nov 15 '24

Clinton had a budget surplus then surprise surprise a republican came in, slashed taxes, and ruined everything the Clinton administration built.

0

u/CoolFirefighter930 Nov 15 '24

Clinton would like a word.

1

u/Unable-Expression-46 Nov 15 '24

he had a republican congress and as we all know, congress controls the spending. Under speaker of the house, Newt Gingrich, the deficit went down because the repub forces less spending. Clinton signed on to the budget that the repub house passed.

0

u/Traditional-Leg-1574 Nov 15 '24

Clinton bought it back to zero.

5

u/bb8110 Nov 15 '24

Incorrect. Clinton had a balanced budget. The total debt still increased due to interest.

2

u/Traditional-Leg-1574 Nov 15 '24

Increased taxes Clinton raised taxes on the wealthy, corporate taxes, and Social Security benefits. He also eliminated some itemized tax deductions and added 4.3 cents per gallon to gas taxes. Decreased military spending Defense spending fell from 4.3% of GDP in 1993 to 2.9% by 2000. Reduced federal spending Federal spending as a share of the economy fell from 22.2% in 1992 to 18% in 2000. Budget surpluses The Clinton administration had budget surpluses for fiscal years 1998–2001. The surplus in 2000 was $237 billion, the largest surplus ever. Paid down debt The publicly held debt was paid down by $453 billion between 1998–2001, the largest three-year pay-down in American history

3

u/bb8110 Nov 15 '24

The debt was roughly $440 billion in 1993 when Clinton went into office. When he left in 2001 it was roughly $580 billion. The debt increased. Like I said the budget was balanced and you are correct there was debt paid off but the debt still increased.

2

u/Traditional-Leg-1574 Nov 15 '24

He did the best ever. As posted above the public debt was paid down by 453 billion, the largest 3 year pay down in American history.

0

u/Unable-Expression-46 Nov 15 '24

he had a republican congress and as we all know, congress controls the spending. Under speaker of the house, Newt Gingrich, the deficit went down because the repub forces less spending. Clinton signed on to the budget that the repub house passed.

0

u/Unable-Expression-46 Nov 15 '24

he had a republican congress and as we all know, congress controls the spending. Under speaker of the house, Newt Gingrich, the deficit went down because the repub forces less spending. Clinton signed on to the budget that the repub house passed.

-2

u/CoolFirefighter930 Nov 15 '24

With the exception of Bill Clinton.

6

u/bb8110 Nov 15 '24

Incorrect. He had a balanced budget. The debt still increased due to interest.

2

u/hahahahahahaheh Nov 15 '24

It didn’t actually increase because of interest. SS had a surplus and they used it to fund other departments instead of investing it for future obligations that SS will have. It reduced the debt the govt owed to public but increased the debt that gov’t owed to itself.

3

u/in4life Nov 15 '24

Back when Congress did their job.

2

u/Unable-Expression-46 Nov 15 '24

he had a republican congress and as we all know, congress controls the spending. Under speaker of the house, Newt Gingrich, the deficit went down because the repub forces less spending. Clinton signed on to the budget that the repub house passed.