The US deficit will never be reduced... certainly not under dems

Actually all economic indicators are more favorable when Democrats handle the levers. I don’t quite understand how the Republican’s myth has withstood nearly a century of data but it certainly persists.

 

So you're saying tRaitor tRump RINO's are just as bad as Democrats.

"The American people" continue to maintain the worlds STRONGEST "economy" in spite of diminishing Government help for the middle and lower class's and ever increasing benefit for the wealthy. "The Child Tax Credit" makes the difference between eating and not for many of America's poorest poor. The tRump and Biden "free money" and COVID benefits kept the U.S.A. and the world from slipping into a Mega Recession. It kept many family's afloat during the pandemic.

The only way to "lower our National Debt" is to get rid of the FED and that's very unlikely, at least for the foreseeable future. We don't have a socialist democracy we have a Capitalist Republic that includes fewer and fewer social safety net programs all the time. When we had a robust social safety net and more social programs is the time tRaitor tRump and his RINO followers are AGAINING about.

 

Simple question, how can one have a surplus when the debt rises? If one has a surplus, the debt must come down.

 

That is an accounting gimmick or a play on words. I look at the debt, if it rises, then we have spent more money than we took in. It is rather simple. It's like me owing 100 dollars and then after the year owing 110 dollars and stating I have a surplus. I'm no financial guru, But if I owe more at years end than I owed before the year stated, that's isn't a surplus. I went further in debt, I owe more than I did. But in your terms, I had a surplus.

 

Don't understand what debt and a yearly budget is? I get it

Hint interest on debt can add to the debt even with a budget surplus, which the US had 4 times under Clinton. It's really not complicated

 

Nope conflating debt with a yearly REVENUE AND SPENDING BUDGET.

• A budget surplus is when income exceeds expenditures.

HINT SOCIAL SECURITY AND OTHER TRUST FUNDS MUST BE SAVED (DEBT PAID BACK) BY LAW. No trick to a yearly budget.

 

Trust funds created the debt, we didn't pay out of the "lock box" yet. SS, Medicare, roads, etc ALL have trust funds, which is simply US putting money away for later (bonds). Excess revenues from trust funds can not pay down other debt. Yes debts will increase, even when we have yearly inflows greater than outflows

 

Debt is how the government expands the money supply. If we weren't still paying off toothbrushes from WWII, Bill Gates would be a millionaire and you and I would be trading eggs and butter because there would so little money in circulation that only an elite few would have it. When WWII ended in 1945, the debt to GDP ratio was 114%, Today it is 124%. Not too out of bounds considering all the stuff the government has done in those 77 years.

 

And what safety nets have been abolished as you claim?

 

Our economic advantage has been dissipating for years. We are in trade to be economically overtaken not to keep our status and I’m sure you’re well aware of that.

 

They both are hindering the national debt and anyone who claims otherwise is biased

 

No. The government stopped the economy. They made it need help to begin with. The impact of free money and COVID benefits will be felt in inflation for years to come.

 

This thread is hilariously wrong

The US deficit has already been reduced under Biden, and this is highly unlikely to change by the time Biden leaves office. The last Democrat president to leave office with a lower deficit than when he took office was Obama, and the last one before that was Clinton. Meanwhile the last Republican president to leave office with a smaller deficit than when he took office was Nixon....

So yeah... this notion that the deficit cannot be reduced under a Democrat president specifically is essentially the exact opposite to the reality we've lived in the past 40+ years

 

Load up the federal debt!

Majority of White House Staffers Eligible for Biden’s Student-Loan ‘Forgiveness.’

A White House report 'that detailed the pay of more than 470 staffers last month showed that roughly half of current White House employees make $90,000 or less per year, with the other half making more than $100,000. More than 300 staffers on the list earn less than the $125,000 threshold.'

"30 senior staffers collectively owe as much as $4.7 million' in student debt.

'Washington, D.C., residents have more outstanding student-loan debt than residents of any other city in the country, according to a 2021 report from the business insurance research company AdvisorSmith, which found that the average D.C. borrower has $54,982 in unpaid student-loan debt and 16 percent of D.C. residents had unpaid student-loan debt.'

'Democrats think making the responsible taxpayers pay the debts of irresponsible woke students is a winner.'

They aren't even trying to hide the graft anymore.

 

He's been making noise about student debt forgiveness too. I think it's just to have something positive going into the midterms.

The only way you can reduce the deficit is cut spending also keep in mind the Republicans have never done it either.

 

@JonK22

the last time there seemed any chance of paying down the debt (2001) the fed chairman (alan greenspan, conservative ayn rand cultist) threw a conniption fit and demanded that taxes be lowered to avert the crisis.

government debt = wealth in private hands.

the incredible debt will never be paid, and is a feature of the REPUBLICAN project to shrink the government.

Jude Wanniski - Wikipedia

The Two Santa Claus TheoryEdit
The Two Santa Claus Theory is a political theory and strategy published by Wanniski in 1976, which he promoted within the United States Republican Party.[15][16] The theory states that in democratic elections, if members of the rival Democratic Party appeal to voters by proposing programs to help people, then the Republicans cannot gain broader appeal by proposing less spending. The first "Santa Claus" of the theory title refers to the Democrats who promise programs to help the disadvantaged. The "Two Santa Claus Theory" recommends that the Republicans must assume the role of a second Santa Claus by not arguing to cut spending but offering the option of cutting taxes.[citation needed]

According to Wanniski, the theory is simple. In 1976, he wrote that the Two-Santa Claus Theory suggests that "the Republicans should concentrate on tax-rate reduction. As they succeed in expanding incentives to produce, they will move the economy back to full employment and thereby reduce social pressures for public spending. Just as an increase in Government spending inevitably means taxes must be raised, a cut in tax rates—by expanding the private sector—will diminish the relative size of the public sector."[16] Wanniski suggested this position, as left-liberal observer Thom Hartmann has clarified, so that the Democrats would "have to be anti-Santas by raising taxes, or anti-Santas by cutting spending. Either one would lose them elections."[17]

reference : "the truimph of politics" by reagan budget director stockman.

the secrets of economics are not found on laffer's cocktail napkin, but in the cold equations of keynes' general theory." rampart

 

None

 

There is actually a much simpler reason why no president will get rid of the deficit: Math.

Let's look at a $20 trillion economy, and $1 trillion federal deficit. That's 5% of the total economy. Now, what would happen if the government would start taking away the $1 trillion money injection? With a 2-3% economic growth rate, we would end up with negative growth. Now, which president would like to preside over negative growth? Nobody, because it would mean they can't get re-elected. The same goes for Congress critters too, it's easy to pretend to be fiscally conservative when in the opposition, but the math changes all that when they are in office.

Essentially, since GWB, the federal deficit was that high that we would have been in continuous recession without government money injection through borrowing. And this goes for presidents from all parties, Trump included.

So the GOP can sit on their high horse of being the party of fiscal responsibility. That math, however, clearly shows that this is a lie and that the supposed "fiscal responsibility" is only used as a tool to attract voters. When they are in office, they spend like the welfare queen, and cut taxes on top of it, to further increase the deficit and fuel short term economic growth.

 

Hi, DentalFloss.

The first paragraph in the quote can either be confirmed by a reference to a statement by President of the United States of America Joseph Biden that the act would reduce or eliminate the deficit or it must be seen as a straw man.

Regards, stay safe 'n well 'n remember the Big 5.

 

And you make this claim only 2 years after a republican administration enacted the largest giveaway (and its not even close) of public money. We're talking TRILLIONS, not billions.

You are on a roll making claims that are so blatantly wrong that its not even funny.

 

It would take time to document them all, but one comes to mind that is blatantly obvious. We've cut back drastically on mental health care. Which has exacerbated our national homeless crisis AND, IMHO, is contributing to the uncontrollable gun violance across America.

Which began with Regan's voodoo economics.

Hindering? They are both "contributing" to our debt, but as post #17 shows the Republicans make it worse while Democrats have reduced it's growth rate.

If we hadn't shutdown the death roll would have been unconscionable.

 

What government program cut back on mental healthcare. I call complete and utter BS on your full statement. You can’t even source one government program cut

 

Another turn coat that was really a democrat

 

Really? What would have been different? We still have an uncontrolled virus to this day. Nothing, absolutely nothing came out of the COVID shutdown other than inflation

 

Even CNN choked on the nonsense about Biden reducing the deficit.

"The actions of the administration and Congress have undoubtedly resulted in higher deficits, not smaller ones," Dan White, senior director at Moody's Analytics -- an economic research firm whose analysis Biden has repeatedly touted in his speeches -- said in an email. "It is encouraging that the administration has proposed some initiatives to bring down the deficit, but so far none of those initiatives has been seriously considered."


CNN, , Fact check: Deconstructing Biden's claim that 'I reduced the federal deficit’, By Daniel Dale, CNN, Updated 9:40 AM ET, Mon May 9, 2022.

https://www.cnn.com/2022/05/09/politics/fact-check-biden-deficit-reduction/index.html