Yes. The GOP and Ds/Obama slightly raised taxes and slightly cut spending increases. The result was cutting the deficit in half during a time of slow recovery following the Great Recession.
Had we continued those efforts, our deficit would likely be much lower, debt would be growing as a sales pace, and another 4-8 years from now, we could see the debt being decreased.
I also have tried pointing out that deficit reduction is the first step to no avail with Altair. If a program isn’t reducing the debt, then he thinks it is worthless.
Clinton had no plan to reduce deficits, that was Newt. Clinton went along kicking and screaming because he had no choice and then took credit for everything that was done that he opposed.
Obama did not reduce any deficit he did not first create either as President or as a member of Harry and Nancy’s spending palooza.
Nope. I stopped at “Clinton did as well”… I just get annoyed by the Presidents cut the deficit line… reading the rest, fair points. Responded too quickly, thinking it was just another swipe at Republican Presidents.
you’re sadly confused. Bush inherited a slightly faltering economy, then got hit with 9-11. If you can find one war we’ve ever fought and won without borrowing to do so, expound on it. The truth is even with the war on terror, Bush and the GOP congress reduced the deficit from the early costs for the war down to 67B before Nancy and Harry got the purse strings. After that it increased again to around 300B, until Obama took over and ballooned it with his “emergency stimulus bill” to over a Trillion. Bush gets blamed for that, it was not his doing. Obama signed that piece of crap into law. It took once again, a GOP congress to get Obama’s spending under control. Trump ran into COVID, that’s not his doing, he’s responding to it. The tax cuts early on helped spur the blue collar boom, rising wages and a rising labor participation rate. The lowest unemployment across the board for all demographics in decades (in some cases ever). That is exactly what we need to grow the economy, hold down spending and move toward balance, We sure as heck weren’t going to get there with 1.8% annual growth and falling labor participation rates.
The last budget under Obama was 666B, up from 585B the year before. Trumps first budget was 985B, still going the same direction it was when he took office. the question is, what did we get foir the extra 300B? The healthiest economy we’ve had in many years, lowering unemployment for all demographics and a higher labor participation rate, increased wages at the bottom, a blue collar boom and the beginning of returning manufacturing jobs. Where would we be today without COVID?
Hey I guess it’s not hard to have a “booming” economy when you inherit 4.7% unemployment, a $475bil deficit then proceed to do a bunch of deficit spending via tax cut spending to stimulate the economy while running up yuuuge deficits
No I don’t. I’m not interested in first steps. I’m only interested in a real debt reduction plan. Not a half assed first step. If you want to be happy with first steps that actually do nothing substantial, then please have at it.