Agreed. I would add that republicans being fiscal responsible is more of a reputation than fact.
Reagan tripled the debt from $900 billion to $2.7 trillion.
Clinton balanced the budget and left office with a $300 billion surplus.
Dubya Bush more than doubled the debt from $5.5 trillion to $11.8 trillion and increased the deficit from $330 billion surplus to $1.8 trillion deficit.
Obama increases the debt from $11.8 trillion to $20 trillion but reduced the deficit from $1.8 trillion to $536 billion.
And Trump took the debt from $20 trillion to almost $29.6 trillion and increased the deficit from $536 billion to $1.88 trillion.
Biden increased the debt from $29.6 trillion to $32.2 trillion, but has reduced the deficit to $1.3 trillion. Still bad, but he’s cut $580 billion from the deficit so far.
My point, republicans with their “one solution” cure all panacea of tax cuts, always raises the debt and deficit with little overall benefits except for a six month sugar high (short-term GDP growth), but they are anything but fiscally responsible....:)
Oh but just give it time, I’m sure it will trickle down eventually! JK - I posted a chart from Simon Rosenberg charting this very thing. Funny how myths persist though. I think it’s probably because it’s easy to think of spending as “spending” and to be fair, Dems do spend more on social programs but most people don’t equate “tax cuts” with *revenue* increase. And any person who’s ever done a family budget knows that it doesn’t matter if you do cut spending by a lot, if you are barely earning anything, you’re eventually going to start racking up some debt.
Agreed. I would add that republicans being fiscal responsible is more of a reputation than fact.
Reagan tripled the debt from $900 billion to $2.7 trillion.
Clinton balanced the budget and left office with a $300 billion surplus.
Dubya Bush more than doubled the debt from $5.5 trillion to $11.8 trillion and increased the deficit from $330 billion surplus to $1.8 trillion deficit.
Obama increases the debt from $11.8 trillion to $20 trillion but reduced the deficit from $1.8 trillion to $536 billion.
And Trump took the debt from $20 trillion to almost $29.6 trillion and increased the deficit from $536 billion to $1.88 trillion.
Biden increased the debt from $29.6 trillion to $32.2 trillion, but has reduced the deficit to $1.3 trillion. Still bad, but he’s cut $580 billion from the deficit so far.
My point, republicans with their “one solution” cure all panacea of tax cuts, always raises the debt and deficit with little overall benefits except for a six month sugar high (short-term GDP growth), but they are anything but fiscally responsible....:)
Oh but just give it time, I’m sure it will trickle down eventually! JK - I posted a chart from Simon Rosenberg charting this very thing. Funny how myths persist though. I think it’s probably because it’s easy to think of spending as “spending” and to be fair, Dems do spend more on social programs but most people don’t equate “tax cuts” with *revenue* increase. And any person who’s ever done a family budget knows that it doesn’t matter if you do cut spending by a lot, if you are barely earning anything, you’re eventually going to start racking up some debt.