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Treasured Social Butterfly
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Re: Under Trump, the Deficit Has Ballooned

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Message 61 of 64

@NOTHAPPENING wrote:

@ChasKy53 wrote:

The Deficit and our National Debt have both "ballooned" and will continue to unless Republicans are removed from the majority and trump is removed from office. Trump and the Republicans' last tax cut alone are costing $Trillions$ and trump is now promising another massive tax cut if he is elected in 2020. But, I guess this is all OK with trump supporters because he is after all "The Chosen One" !!!!


The "debt" balooned under Obama from $10 trillion to $20 trillion in 8 yesrs (100% increase in debt)!  Under Trump the debt has gone up $2 trillion dollars from $20 trillion to $22 trillion dollars in three years (a 10% increase in debt)!


I love explaining capitalist economic theory. 

 

When the economy is in recession, such as the Bush or Great Recession, governments are expected to borrow and spend on infrastructure in order to fuel the economy and "catch up" in infrastructure while rates are low and costs are cheap.  When an economy has recovered, as it did under Obama, capitalist economic theory states that the government should be paying down those debts to prepare for the next downturn. 

 

Trump has no idea how capitalism works beyond the inheritance laws of the state of New York so he has been giving away "free stuff" in the form of tax reductions to the rich and building a huge deficit exactly when that darn capitalist economic theory says he should be doing the opposite. Now that the Trump Recession is on the horizon, he has no tools to fight it.  In short, he is a moron. 

 

 

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Valued Social Butterfly
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Re: Under Trump, the Deficit Has Ballooned

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Message 62 of 64

@ChasKy53 wrote:

The Deficit and our National Debt have both "ballooned" and will continue to unless Republicans are removed from the majority and trump is removed from office. Trump and the Republicans' last tax cut alone are costing $Trillions$ and trump is now promising another massive tax cut if he is elected in 2020. But, I guess this is all OK with trump supporters because he is after all "The Chosen One" !!!!


The "debt" balooned under Obama from $10 trillion to $20 trillion in 8 yesrs (100% increase in debt)!  Under Trump the debt has gone up $2 trillion dollars from $20 trillion to $22 trillion dollars in three years (a 10% increase in debt)!

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Re: Under Trump, the Deficit Has Ballooned

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Message 63 of 64

The Deficit and our National Debt have both "ballooned" and will continue to unless Republicans are removed from the majority and trump is removed from office. Trump and the Republicans' last tax cut alone are costing $Trillions$ and trump is now promising another massive tax cut if he is elected in 2020. But, I guess this is all OK with trump supporters because he is after all "The Chosen One" !!!!


"The only thing man learns from history is man learns nothing from history"
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Under Trump, the Deficit Has Ballooned

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Message 64 of 64

(CNN) - The Congressional Budget Office has predicted the federal deficit could reach $1 trillion by the 2020 Fiscal Year. Once again, President Trump has exposed a myth in American politics. That myth? That Republicans are the party of fiscal responsibility.

He is the latest Republican president to demonstrate this. His drive for corporate tax cuts, which received strong Republican support, has blown a huge hole in the federal ledger.
 
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