All this could have happened during Obama’s presidency if the Republicans had allowed him to do what they allowed Trump to do:
For Democrats, the reason is pretty simple: Partisans are loath to cheer economic growth for fear of implicitly praising the president. There is far more political advantage in focusing on the (very real!) persistent dark spots of the economy, whether it’s high medical and child-care costs, the burdens of student debt, racial and gender disparities, or the socioeconomic indignity of low-wage and no-wage service-sector work.
For the GOP, the situation is slightly more complicated. Both the White House and congressional Republicans claim full credit for the economy all the time—a dubious argument, which elides the role Barack Obama’s administration played in setting the economy on its trajectory. Yet Republicans don’t like to admit the biggest policy-based reason why the economy surged in 2018 and into 2019, which is this: President Donald Trump secured the very stimulus that Republicans spent years denying President Obama.
Throughout his term, Obama tried repeatedly to get Republicans to sign on to additional spending and tax cuts for the middle and lower classes, which would have increased the deficit. The GOP repeatedly refused to go along with this, arguing that higher deficits were philosophically unacceptable and financially ruinous. In 2016, with the economy slowing down, the Obama administration again proposed a moderate stimulus plan that would have targeted infrastructure, but congressional Republicans refused to budge.
But under Trump, something odd has happened: The GOP has presided over the largest two-year deficit increase in American history, outside of a recession. The party has paired higher spending with a massive corporate tax cut, which sweetened a long-term marginal-rate cut on corporate income with a short-term tax benefit for households.
Thanks to this infusion of deficit-financed stimulus, job growth and GDP accelerated throughout 2018, and both continue to grow steadily today, despite the wobbliness of global markets and the president’s imbecilic decision to wage a trade war against the world’s second-biggest economy.
@Chris check this out:
" What alarmed Harris on this day, though, was how fast the country’s debt is growing. On Aug. 1 this year, for instance, it stood at $22.022 trillion. By Oct. 10, it had grown to $22.842 trillion, an increase of $800 billion in less than three months. He keeps tabs on those figures by visiting the “debt to the penny” tracker on TreasuryDirect.gov, where the government keeps updating the figures."
Dragonfly out in the sun, you know what I mean, don’t you know
Butterflies all havin’ fun, you know what I mean
Sleep in peace when the day is done, that’s what I mean
And this old world is a new world
And a bold world
For me
For me