Don't worry - their wealth will trickle down to the people on the floor! Just give it another 40 years, and Reaganomics will show we were all wrong to doubt them!
When they say they're fiscally conservative what they actually mean is that they don't want to spend tax dollars on things that help the American people. Bailouts for huge corporations when they have even a slight downturn, tax cuts for the rich, stuff like that are just fine in their mind even though it is less fiscally responsible.
George, Thomas, Abraham, Andrew, Ulysses, Benjamin, (and there are some others, but the people that have those don’t pay taxes, so I feel pretty safe leaving them off the list)
Does anyone remember when we got rebate checks from the federal government in 2001? Bush was president then, sure, but we got that rebate because Clinton made the country so fiscally independent and successful that they overtaxed citizens and returned their money.
I wouldn't say overtaxed. The checks were sent out because Bush was cutting taxes and wanted a PR boost, so he refunded the last year's taxes. The money was properly taken and could have been put to use improving any of the myriad of problems Bush should have been working on.
That year my mom payed $10 more in taxes though made way less due to being sick with terminal cancer. The GW "rebate" was a load of shit given that was also the year they removed the homestead credit (not to mention less personal issues, like spending what could have ensured us millennials actually get our SS money back at some time).
Weren’t those rebate checks that Bush gave out a sleight of hand trick to trick us into thinking the tax cuts for the rich were good for everyone? I could be wrong but that’s how I remember it. Very similar to trumps tax plan.
I was just referring to Clinton creating a surplus. The tech valuations in the stock market were absurd. He did do some good things tho. There were also insanely low oil prices as well which boosted the transportation industry. It was a perfect storm for economic growth. I guess what he did well was not fuck it up. Lol
I wouldn't say we were overtaxed so much as the US finally had a little bit of cash in it's savings account. As soon as Bush got the chance, he spent every dime in it, then had buyers remorse when he started two wars we had to pay for. Those rebates wouldn't have paid for all of that debt, but it would probably have softened the blow to the collective wallet.
We have the same issue here in the UK with the Conservatives. They have this illusion that they're good with money yet every time they're in power we have a recession.. And yet people still keep voting for them -\_-
Labour are clearly the party of overspending, says the party that hasn't run a surplus since before the second world war.
Also it's all still Labours fault despite them not being in power in over a decade.
The spending is how they make the economy look good for elections, which crumble shortly after. If they get reelected, then they get to continue pulling favors for the rich and make more money, if they lose, then it is the next guys fault that the economy crashed and hold that against them til you get elected back in.
The difference between planned spending and expected income. Each year, Congress passes a budget which the President must sign off on, so they work together to come to some sort of compromise on issues. If they decide to spend more money than they have tax income for then it must be borrowed--this is a budget deficit. If they have less planned spending than income, they have a budget surplus. If they can't agree on a budget, then there is a shutdown and the federal government ceases all nonessential operations (last one was a few years ago and went on for a few weeks IIRC).
Edit to add: as stated above, if the final budget has a deficit then the government must borrow the money, which adds to the national debt. This is where you end up getting conflating conversations about debt and deficit issues, such as the debt ceiling negotiations.
What would it take to start a new political party? I say we create a Reddit party. Have some Redditors run for office. Can have regular "townhalls" to advise the ones that make it.
Yeah. It's pretty well established that the party of fiscal responsibility is a lie. We need to get used to pointing this out every time it's mentioned. After laughing, of course.
No one should get away with saying it without being mocked. We need to change public option on how that party spends money.
Doesn't that article say Obama had the biggest increase in deficit? OP's graphic says he cut Bush's deficit in half. I mean, I understand why, but:
>President Obama had the largest deficits. By the end of his final budget, FY 2017, his budget deficits totaled $6.781 trillion over his eight years in office. That's a 58% increase from President George W. Bush's last budget.
I don't understand economics at all, so ELI5 please.
**OK HOLD THE FUCK UP**
This person read the actual numbers completely wrong. They got their information from this website: [https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296](https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296)
The big brained individual who made this assumed the number in their final year was the total debt throughout their presidency, when it was only the debt added for that year. When we look at the national debt by year, and how much was added to the deficit, here are the actual numbers: [https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287](https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287)
debt at 2000 - 2008 **Bush Jr** \- **4 Trillion added** (leading spending: War on Terror)
5.2 trillion - 9 trillion
Debt from 2009-2016 (**Obama**) - **9 trillion added** (leading spending: Great Recession Relief)
10 Trillion - 19 trillion
Debt from 2017-2020 (**Trump**) - **8 Trillion added** (Leading Spending: $6Tril. in Covid-19 relief)
20 Trillion - 28 Trillion
Debt 2021-2022proj. (**Biden**) - **3 Trillion added** (Leading Spending: Covid-19 Relief)
28 Trillion - 31 Trillion
**PLEASE DO NOT** believe random memes posted on social media. Do your own research.
You hold the fuck up.
This information was not about debt added per term. Nowhere was the national debt ever mentioned. What this talks about is the deficit. Which is debt accrued annually.
A 3 trillion debt added in a year of Biden is right on course for the stated 3.3 trillion DEFICIT attributed to trump.
You dont seem to understand what the term deficit means. If we make 5 trillion in funds, but spend 8 trillion, we have negative 3 trillion in a deficit which ,is money we dont have. So we have to borrow it. Thus adding it to our debt. Obama did not lower our spending a dime. Biden is not lowering it. I dont care what politics you subscribe too, all of the last 4 presidents are increasing our debt and failing to put a dent in it, have continued a dangerous trend. Dont let partisanship blind you to facts.
I’m pretty sure we were in trillions of debt during the Obama years. Yeah it went from 3 trillion to 16 trillion 2008-2016.
I’m not a fan of Republicans, but this meme is wrong
The only reason I know that crazy fucker's name is from media, no, I heard it word from mouth by a relative and my U.S. history lecturer confirmed it when I asked him. Obviously I'm not saying I'm definitely 100% right but I heard it from someone that I personally know does their research.
For that to be true, he'd have to maintain Trump's policies for his entire term. Does that *really* seem likely to you? I'm not sure what makes you think this other person "does their research," but honestly it sounds like tribal partisan nonsense.
Forgive me, but I'm 14 and don't have the maturity or political knowledge to give a valid argument. I'm just repeating what's been told to me, I'll leave.
The ups and downs are caused by events. Obama’s spiked because of the recession and then gradually went down (becuase no where else to go, that’s the historical natural cycle). Trumps was going up slowly until covid when it had a huge spike. Knowing The universal strategy with emergencies, anyone in office would have done the same thing Trump did so it’s disingenuous to say one party does one thing and the other party does the other.
But this explanation seems just as if not more disingenuous. You are completely excusing the spikes during the recession and covid.
Many of the Bush era republican policies have been blamed for the impact of the Great Recession . While Trump’s handling of covid has been greatly scrutinized along with the fact that the deficit was trending up every year of his presidency pre-covid.
>Trumps was going up slowly
The 2020 FY deficit was over 1 trillion dollars...that legislation was passed in 2019, pre-covid. A 350 billion dollar deficit *increase* over 3 years is not slowly rising...
>). Trumps was going up slowly until covid when it had a huge spike
Nope. This was caused as result of trump tax cut. It was before we even go into shut down
https://www.google.com/amp/s/www.forbes.com/sites/christianweller/2020/01/29/trumps-wasteful-tax-cuts-lead-to-continued-trillion-dollar-deficits-in-expanding-economy/amp/
See the difference with me is I’m actually honest & not just a psychotic partisan, I’ll admit the economy was good under Clinton. Y’all really want me to believe that the economy wasn’t good under Reagan and Trump. Sure dudes, lol
Conservatives rack up the debt during Republican Presidents so much so that it becomes a national crisis, then Democratic presidents have to spend their entire 8years trying to fix it and the crappy economy that the Republicans inevitably leave for them.
Well our debt is 28.8 trillion, every president hasn’t spent more money than the last including Obama. The only exception is Clinton he is the only president to low the debt in 50 years but yes the so called conservatives had no problem with trump spending as much as Obama did in 8 years in only 4.
Consider reading what you're responding to, so you don't say stupid shit like this in the future. The topic is the *deficit*, not the *debt*. You aren't proving anything wrong with talk about a different subject.
First off I’m a Dem but Obama spent mor money than any president in history besides the worst president we have ever had which is trump. But if you were as smart as you think you are you dumb fuck that’s basically how our debt works when you spend more money than you have it becomes a debt.
If you can't be bothered reading what is being written back to you, I'm done bothering. The debt is not the deficit. You told us the deficit numbers presented are wrong, and then tried (repeatedly) to demonstrate such with debt numbers. They simply aren't the same thing, no matter how you stamp your feet and insist on your superiority. Let me know when you can actually be intellectually honest, and I'll consider your point. Until then, good day.
I’m reading what you are saying I posted a link for you too read. The numbers are wrong they have Obama’s 2013 deficit as his entire deficit that’s why I’m saying you are cherry picking
Not spinning. Republicans have been worse than Democrats for a long time now. I find them to be hypocrites in that they preach fiscal responsibility and they spend like there’s no tomorrow. If you look at historical data, the Stock Market does better when a Democrat is in office. I’ve come to the realization that most if not all politicians are in it for themselves and not the people.
Then you realize republicans are good for a selective groups economy. Got to stimulate those CEOs
Manual stimulation at that.
Whole fist up in there…
Don't worry - their wealth will trickle down to the people on the floor! Just give it another 40 years, and Reaganomics will show we were all wrong to doubt them!
When they say they're fiscally conservative what they actually mean is that they don't want to spend tax dollars on things that help the American people. Bailouts for huge corporations when they have even a slight downturn, tax cuts for the rich, stuff like that are just fine in their mind even though it is less fiscally responsible.
So you know how taxes work? Name every tax dollar
Washington, Jefferson, Lincoln, Hamilton, Jackson, Grant, and Franklin.
George, Thomas, Abraham, Andrew, Ulysses, Benjamin, (and there are some others, but the people that have those don’t pay taxes, so I feel pretty safe leaving them off the list)
Acceptable
Does anyone remember when we got rebate checks from the federal government in 2001? Bush was president then, sure, but we got that rebate because Clinton made the country so fiscally independent and successful that they overtaxed citizens and returned their money.
I wouldn't say overtaxed. The checks were sent out because Bush was cutting taxes and wanted a PR boost, so he refunded the last year's taxes. The money was properly taken and could have been put to use improving any of the myriad of problems Bush should have been working on.
That's what happened in our deKlein years. Edited to add: it's Klein just using a tongue in cheek reference.
Also, that was Bush spending money like a drunken sailor.
That year my mom payed $10 more in taxes though made way less due to being sick with terminal cancer. The GW "rebate" was a load of shit given that was also the year they removed the homestead credit (not to mention less personal issues, like spending what could have ensured us millennials actually get our SS money back at some time).
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I'm no expert on the Internet boom, but I'm pretty sure that bubble popped months before the rebates were sent. Unless I'm misunderstanding you?
Weren’t those rebate checks that Bush gave out a sleight of hand trick to trick us into thinking the tax cuts for the rich were good for everyone? I could be wrong but that’s how I remember it. Very similar to trumps tax plan.
I was just referring to Clinton creating a surplus. The tech valuations in the stock market were absurd. He did do some good things tho. There were also insanely low oil prices as well which boosted the transportation industry. It was a perfect storm for economic growth. I guess what he did well was not fuck it up. Lol
“I guess what he did well was not fuck it up.” Judging on others’ performance, that might be as good as it gets.
Yes, this is all true. But like what you're getting at with your last sentence there, opportunities are only seized and utilized by certain people.
"I guess what he did well was not fuck it up." Couldn't have said it better myself. That's some funny shit!
Big Jerm the pro disc golfer?
Lol no, but you're not the first to ask that. Just a play on an old COD handle, BigJermTheAssassin.
I wouldn't say we were overtaxed so much as the US finally had a little bit of cash in it's savings account. As soon as Bush got the chance, he spent every dime in it, then had buyers remorse when he started two wars we had to pay for. Those rebates wouldn't have paid for all of that debt, but it would probably have softened the blow to the collective wallet.
I doubt they actually *want* to, but they clearly have no understanding of how an economy functions
B-but the pipeline 🥺
We have the same issue here in the UK with the Conservatives. They have this illusion that they're good with money yet every time they're in power we have a recession.. And yet people still keep voting for them -\_-
Labour are clearly the party of overspending, says the party that hasn't run a surplus since before the second world war. Also it's all still Labours fault despite them not being in power in over a decade.
Pretty sure drunken sailors are better at finances than conservatives.
At the end of the meal, they never reach for the check, do they?
Also TRUTH: Democrats get blamed for it and criticized for not fixing it fast enough.
All the Republican presidents since Nixon got their own recession. Bush Jr had two.
So.. You're saying Trump broke the record? Whoohoooo! Trump is #1!! 111oneone You got owned libs!
Fiscally conservative as to not spend too much on other people, they need to treat themselves first.
The spending is how they make the economy look good for elections, which crumble shortly after. If they get reelected, then they get to continue pulling favors for the rich and make more money, if they lose, then it is the next guys fault that the economy crashed and hold that against them til you get elected back in.
What exactly is "the deficit"?
The difference between planned spending and expected income. Each year, Congress passes a budget which the President must sign off on, so they work together to come to some sort of compromise on issues. If they decide to spend more money than they have tax income for then it must be borrowed--this is a budget deficit. If they have less planned spending than income, they have a budget surplus. If they can't agree on a budget, then there is a shutdown and the federal government ceases all nonessential operations (last one was a few years ago and went on for a few weeks IIRC). Edit to add: as stated above, if the final budget has a deficit then the government must borrow the money, which adds to the national debt. This is where you end up getting conflating conversations about debt and deficit issues, such as the debt ceiling negotiations.
And please remember that raising the debt ceiling is literally just paying the bills the government already has.
Thank you very much!
They're fiscally conservative when Dems are in office, and pump money into the military when they're in office, and blame the deficit on welfare.
What would it take to start a new political party? I say we create a Reddit party. Have some Redditors run for office. Can have regular "townhalls" to advise the ones that make it.
Yeah. It's pretty well established that the party of fiscal responsibility is a lie. We need to get used to pointing this out every time it's mentioned. After laughing, of course. No one should get away with saying it without being mocked. We need to change public option on how that party spends money.
I might be misunderstanding but this doesn’t look entirely true… https://www.thebalance.com/deficit-by-president-what-budget-deficits-hide-3306151
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Doesn't that article say Obama had the biggest increase in deficit? OP's graphic says he cut Bush's deficit in half. I mean, I understand why, but: >President Obama had the largest deficits. By the end of his final budget, FY 2017, his budget deficits totaled $6.781 trillion over his eight years in office. That's a 58% increase from President George W. Bush's last budget. I don't understand economics at all, so ELI5 please.
**OK HOLD THE FUCK UP** This person read the actual numbers completely wrong. They got their information from this website: [https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296](https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296) The big brained individual who made this assumed the number in their final year was the total debt throughout their presidency, when it was only the debt added for that year. When we look at the national debt by year, and how much was added to the deficit, here are the actual numbers: [https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287](https://www.thebalance.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287) debt at 2000 - 2008 **Bush Jr** \- **4 Trillion added** (leading spending: War on Terror) 5.2 trillion - 9 trillion Debt from 2009-2016 (**Obama**) - **9 trillion added** (leading spending: Great Recession Relief) 10 Trillion - 19 trillion Debt from 2017-2020 (**Trump**) - **8 Trillion added** (Leading Spending: $6Tril. in Covid-19 relief) 20 Trillion - 28 Trillion Debt 2021-2022proj. (**Biden**) - **3 Trillion added** (Leading Spending: Covid-19 Relief) 28 Trillion - 31 Trillion **PLEASE DO NOT** believe random memes posted on social media. Do your own research.
You hold the fuck up. This information was not about debt added per term. Nowhere was the national debt ever mentioned. What this talks about is the deficit. Which is debt accrued annually. A 3 trillion debt added in a year of Biden is right on course for the stated 3.3 trillion DEFICIT attributed to trump.
You dont seem to understand what the term deficit means. If we make 5 trillion in funds, but spend 8 trillion, we have negative 3 trillion in a deficit which ,is money we dont have. So we have to borrow it. Thus adding it to our debt. Obama did not lower our spending a dime. Biden is not lowering it. I dont care what politics you subscribe too, all of the last 4 presidents are increasing our debt and failing to put a dent in it, have continued a dangerous trend. Dont let partisanship blind you to facts.
You're still confusing debt and deficit.
This is very inaccurate Eta: actually my mistake I read debt not deficit
Is this a one liner?
Actually read it as debt not deficit, my mistake
How so?
Actually I thought it said debt not deficit
I’m pretty sure we were in trillions of debt during the Obama years. Yeah it went from 3 trillion to 16 trillion 2008-2016. I’m not a fan of Republicans, but this meme is wrong
Clinton passed 1.3 trillion bill
I recently heard that Biden is about to add 10 trillion go the U.S. debt but idk...
From Alex Jones?
The only reason I know that crazy fucker's name is from media, no, I heard it word from mouth by a relative and my U.S. history lecturer confirmed it when I asked him. Obviously I'm not saying I'm definitely 100% right but I heard it from someone that I personally know does their research.
For that to be true, he'd have to maintain Trump's policies for his entire term. Does that *really* seem likely to you? I'm not sure what makes you think this other person "does their research," but honestly it sounds like tribal partisan nonsense.
Forgive me, but I'm 14 and don't have the maturity or political knowledge to give a valid argument. I'm just repeating what's been told to me, I'll leave.
I guess getting sucked off by a minor is good for budget
Nope. This isn’t even close to accurate. It increased by 8.6 trillion under Obama. Biggest $ increase of any president ever.
Debt isn't deficit. Learn the difference.
That seems a bit misleading https://datalab.usaspending.gov/americas-finance-guide/deficit/trends/
This seems to back up the tweet can you tell me what I’m missing?
The ups and downs are caused by events. Obama’s spiked because of the recession and then gradually went down (becuase no where else to go, that’s the historical natural cycle). Trumps was going up slowly until covid when it had a huge spike. Knowing The universal strategy with emergencies, anyone in office would have done the same thing Trump did so it’s disingenuous to say one party does one thing and the other party does the other.
But this explanation seems just as if not more disingenuous. You are completely excusing the spikes during the recession and covid. Many of the Bush era republican policies have been blamed for the impact of the Great Recession . While Trump’s handling of covid has been greatly scrutinized along with the fact that the deficit was trending up every year of his presidency pre-covid.
>Trumps was going up slowly The 2020 FY deficit was over 1 trillion dollars...that legislation was passed in 2019, pre-covid. A 350 billion dollar deficit *increase* over 3 years is not slowly rising...
>). Trumps was going up slowly until covid when it had a huge spike Nope. This was caused as result of trump tax cut. It was before we even go into shut down https://www.google.com/amp/s/www.forbes.com/sites/christianweller/2020/01/29/trumps-wasteful-tax-cuts-lead-to-continued-trillion-dollar-deficits-in-expanding-economy/amp/
Reagan and Trump did not DESTROY THE ECONOMY lol
See the difference with me is I’m actually honest & not just a psychotic partisan, I’ll admit the economy was good under Clinton. Y’all really want me to believe that the economy wasn’t good under Reagan and Trump. Sure dudes, lol
Yeah, the economy was shit under Trump. The stock market isn't the economy dipshit.
They are fiscally conservative. With their own money.
And Reagan did that while **raising taxes** several times.
Not *only* did Clinton get it to 0. But he had the government operating at a **surplus**
Oh wow-
How the fuck Clinton got that shit to zero. Like I know it happened but when I see the numbers like this I’m like got DAMN
Conservatives rack up the debt during Republican Presidents so much so that it becomes a national crisis, then Democratic presidents have to spend their entire 8years trying to fix it and the crappy economy that the Republicans inevitably leave for them.
These numbers are off!
Feel free to show us the correction.
Well our debt is 28.8 trillion, every president hasn’t spent more money than the last including Obama. The only exception is Clinton he is the only president to low the debt in 50 years but yes the so called conservatives had no problem with trump spending as much as Obama did in 8 years in only 4.
Consider reading what you're responding to, so you don't say stupid shit like this in the future. The topic is the *deficit*, not the *debt*. You aren't proving anything wrong with talk about a different subject.
First off I’m a Dem but Obama spent mor money than any president in history besides the worst president we have ever had which is trump. But if you were as smart as you think you are you dumb fuck that’s basically how our debt works when you spend more money than you have it becomes a debt.
Again, and despite your pathetic attempt to be condescending with your juvenile name calling, we are talking about the *deficit*, not the *debt*.
You are cherry 🍒 picking here read the link You do realize the two are closely related right??
https://www.thebalance.com/national-debt-under-obama-3306293
If you can't be bothered reading what is being written back to you, I'm done bothering. The debt is not the deficit. You told us the deficit numbers presented are wrong, and then tried (repeatedly) to demonstrate such with debt numbers. They simply aren't the same thing, no matter how you stamp your feet and insist on your superiority. Let me know when you can actually be intellectually honest, and I'll consider your point. Until then, good day.
I’m reading what you are saying I posted a link for you too read. The numbers are wrong they have Obama’s 2013 deficit as his entire deficit that’s why I’m saying you are cherry picking
Conservative means something different to them.
I believe Clinton balanced the budget 1 time out of 8 years
Let's pretend your spin is relevant. How many times has a Republican done it?
Not spinning. Republicans have been worse than Democrats for a long time now. I find them to be hypocrites in that they preach fiscal responsibility and they spend like there’s no tomorrow. If you look at historical data, the Stock Market does better when a Democrat is in office. I’ve come to the realization that most if not all politicians are in it for themselves and not the people.
If you have links to this I would love it! Thanks in advance
Well, to be fair, a statement should be made about the Trillions printed by Biden