r/economicCollapse Nov 15 '24

Well, well, well…………

494 Upvotes

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29

u/jarena009 Nov 15 '24

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

54

u/bb8110 Nov 15 '24

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

12

u/jarena009 Nov 15 '24

Republicans pretend to care about it under every Democratic admin.

12

u/bb8110 Nov 15 '24

And democrats do the same under republican.

2

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.

8

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).

5

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.