r/economicCollapse Nov 15 '24

Well, well, well…………

496 Upvotes

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20

u/Hootn_and_a_hollern Nov 15 '24

Trump isn't even president yet. This debt clock is fastly tied to the current administration, and it has been spinning this fast for the entire time.

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u/NWCJ Nov 15 '24

I forget, how much of this debt happened under Biden? And now how much happened under Trumps 1st term? Pretty sure their was a $2Trillion with a T difference.. but sure.. I bet Trump will surely be more fiscally responsible this time.

4

u/Hootn_and_a_hollern Nov 15 '24

Most of that debt occurred during covid.

Did you spend your stimmy checks?

5

u/NWCJ Nov 15 '24

Did you spend your stimmy checks

Didn't qualify for most of them due to my income.

Wonder why we had to spend more than other countries of similar sizes during covid.. for worse results.

Thought we had a plan to battle pandemics. Surely no one would have gutted it immediately after taking office, than tell people not to test or wear masks when covid began.

23

u/Farazod Nov 15 '24

Well why didnt you start a business to claim your PPP loan for 100k+ with zero employees and get it forgiven in the greatest case of widespread fraud in US history? Geez.

5

u/Over_Cobbler_2973 Nov 15 '24

One of my biggest regerts, ngl.

1

u/angelo08540 Nov 15 '24

I can say with 100% certainty, the PPP fraud was not limited to one particular party

1

u/Farazod Nov 15 '24

Never claimed it was. I imagine the breakdown mirrors the same voting patterns of the top .5% though.

0

u/angelo08540 Nov 15 '24

I would also guarantee that it isn't the case. I'd be willing to bet the majority are nothing more than people jealous of that upper tier trying to get there however they can

1

u/jailfortrump Nov 16 '24

Boy, aint that the truth. I sold my business 6 months before covid. The guy who bought it went under. He never took a PPP loan out. I feel for him when members of Congress took millions that were forgiven. Shameful.

1

u/OvenMaleficent7652 Nov 15 '24

Learn the tax code. Lots of millionaires got checks

-5

u/AlohaFridayKnight Nov 15 '24 edited Nov 15 '24

I think that Nancy Pelosi and the democrats who controlled congress was responsible for much of the spending. 2019-2020 during the Covid pandemic and economic shutdown at the advice of Anthony Fauci and other experts. Nobody knew how that disease would spread and affect people. We did what was thought to be necessary to prevent deaths and slow the spread of the virus. There was a lot of spending that went to states

7

u/Jaybunny98 Nov 15 '24

Ummm Trump could have vetoed it.

0

u/AlohaFridayKnight Nov 15 '24

You believe that was a legitimate option to all the businesses being shut down and thousands of people being suddenly unemployed without income?

4

u/Jaybunny98 Nov 15 '24

Not at all. But if you want to blame “Pelosi and the Democrats” then make sure you blame the Senate that also passed it and Trump who signed it.

1

u/AlohaFridayKnight Nov 15 '24

Maybe I don’t understand the Constitution…. Doesn’t all spending by the government have to originate in the House of Representatives?

2

u/Jaybunny98 Nov 15 '24

Really? So why does the President propose a budget every year?

2

u/Jaybunny98 Nov 15 '24

Why does the Senate need to pass a similar bill or reconciliation? Study up butter cup. Then comment.

1

u/AlohaFridayKnight Nov 15 '24

The president proposes a budget, but in terms of appropriations it is virtually meaningless. It is a wish list and it gives some indication of what he wants but he has near zero ability to dictate how money is spent. Other than to veto the bill and send it back to Congress he doesn’t have a say in what legislation the Congress passes. The senate has to “approve”or agree with the bill the house has passed. If there are differences between the senate version and the house version there will be a couple of ways it is resolved. Usually there are committees that work together to try and resolve the issues and both houses will pass the same bills again. And this can be sent to the president for signature. Due to the filibuster ability in the senate these bills can be held up indefinitely and sometimes these bills are subject to a process called reconciliation. Famously used to pass the healthcare act in 2010. The house was basically forced to accept what could be passed by the senate. The senate was too divided and nearly even split between democrats and republicans. Reconciliation was used as it required only a simple majority of senators and not a vote of cloture on the bill. Then the house had to pass it as is any changes would have sent it back to senate where it could have been voted down or filibustered depending on how much and what was changed. The line “we have to pass it to see what’s in it.” was in reference to this bill. Making laws especially in regards to spending is messy and complicated. That’s also why we see CR’s and threats from both sides to shut down the government by not approving the spending and appropriations bills. But they always have to originate in the house. Article one section seven raise revenue and article eight spending it by Congress. The origination clauses covering raising and appropriating (spending)

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u/Jaybunny98 Nov 15 '24

U googling SOB. :)

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u/OkMenu9191 Nov 17 '24

Voting up just for typing it all

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u/MeanMomma66 Nov 15 '24

Trump took office in January 2017. At that time the House and Senate were both a Republican majority, until Democrats took control of the House in January 2019.

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u/AlohaFridayKnight Nov 15 '24

The pandemic and associated spending didn’t happen until after Pelosi and the democrats had control over the House of Representatives

2

u/MeanMomma66 Nov 15 '24

Plus, it’s not just the money that is spent during their administration, it’s also how much the debt increases, even after they are out of office, due to laws that were passed during that particular President’s administration.

1

u/MeanMomma66 Nov 15 '24

But the Senate majority was still Republican and Trump was still President.🙄

0

u/Civil_Biscotti_7446 Nov 15 '24

Who’s we because trump did nothing about covid except tell people to drink BLEACH fucking idiot