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Under Trump's watch, national debt tops $21 trillion for first time ever[W:187]

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Under Trump's watch, national debt tops $21 trillion for first time ever

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By Kathryn Watson - March 17, 2018

About a year ago, President Trump pledged to eliminate the national debt "over a period of eight years." But for the first time in history, the national debt surpassed $21 trillion this week, according to the U.S. Treasury. The landmark comes shortly after Congress passed, and Mr. Trump signed, a suspension on the federal debt limit last month, allowing the government to borrow an unlimited amount of money until March 1, 2019. When Mr. Trump took office on Jan. 20, 2017, the national debt was $19.9 trillion, according to U.S. Treasury data. Since then, the GOP-led Congress has passed a $1.5 trillion tax cut bill and a two-year spending deal which, together, are expected to drive the deficit and debt further upward. The Committee for a Responsible Federal Budget estimates annual deficits could top $2.1 trillion per year in the next decade, which would send the national debt soaring even higher. But the ever-increasing national debt isn't a frequent topic for Mr. Trump, and when it does come up, he doesn't seem too concerned. He's said he's open to eliminating the debt ceiling entirely.

Another milestone for The Donald and the GOP.

Related: US National Debt Clock
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

We have been stealing from the kids/grandkids/unborn for a generation, we boomers were never interested in paying our own way, nor do we have any morale problems with conducting generational warfare.

Dont blame that on Trump.
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

We have been stealing from the kids/grandkids/unborn for a generation, we boomers were never interested in paying our own way, nor do we have any morale problems with conducting generational warfare.

Dont blame that on Trump.

So, no one ever blamed the debt on the president from 2008-2016?


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Re: Under Trump's watch, national debt tops $21 trillion for first time ever

We have been stealing from the kids/grandkids/unborn for a generation, we boomers were never interested in paying our own way, nor do we have any morale problems with conducting generational warfare.

Dont blame that on Trump.

Why not? You had no problem blaming Obama

That would MAYBE be an argument if Obama had fixed the mess.

Or even tried.


https://www.debatepolitics.com/gene...bt-3.html?highlight=Obama+debt#post1066784194

Wow more hypocrisy from you.
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

Why not? You had no problem blaming Obama




https://www.debatepolitics.com/gene...bt-3.html?highlight=Obama+debt#post1066784194

Wow more hypocrisy from you.

No, and you are also missing that I was hard against the new tax giveaway immediately.

I think that the calculation has been made that when the global world order collapses none of the debts will be paid, that we will start fresh, so we might as well take all the debt we can and party like its 1999 (those who are on net owed money will of course have other ideas).

Or maybe we simply dont give a damn anymore.

Surely Sir when you look at this thread and Washington you know that I am right that we are about to get visited by GREAT PAIN, that the collapse of America is stunning in its breadth, by this I mean the fiber of the men and women......that we are too far gone to avoid the resulting calamity headed our way.

We are the junkie staring into the abyss.
 
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Re: Under Trump's watch, national debt tops $21 trillion for first time ever

No, and you are also missing that I was hard against the new tax giveaway immediately.

Doesn't matter what you are against. You blamed Obama for the debt occurred under him but won't do so with Trump. That's hypocritical on YOUR part. Case closed.
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

So, no one ever blamed the debt on the president from 2008-2016?


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Trump has a long way to go to catch Obables doubling the debt from ALL previous presidents ALL OF THEM TOGETHER.


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Re: Under Trump's watch, national debt tops $21 trillion for first time ever

So, no one ever blamed the debt on the president from 2008-2016?


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You do know that Congress controls the money.....
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

Doesn't matter what you are against. You blamed Obama for the debt occurred under him but won't do so with Trump. That's hypocritical on YOUR part. Case closed.

I Blamed Obama for claiming that he was working to fix healthcare when in fact he made the main problem worse...the amount that we spend being far more than we can afford.
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

I Blamed Obama for claiming that he was working to fix healthcare when in fact he made the main problem worse...the amount that we spend being far more than we can afford.

1. According to Politifact, Obamacare was helping to REDUCE the deficit, and

2. Under Obamacare, we had a greater percentage of Americans covered by health insurance than ever before in our nation's history.

In other words, when it came to health care coverage for the American people, we had it better than ever, and was saving money doing it!

But I get it - if Obama did it, it must be bad/terrible/evil/socialist/perverted/whatever, 'cause that's what the right-wing media told you.
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

Trump has a long way to go to catch Obables doubling the debt from ALL previous presidents ALL OF THEM TOGETHER.


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You can't blame that in Obama. He inherited diminished revenues from a financial crash. And then he successfully avoided an all out depression and lowered the deficit each year.

In order to understand why your piece of information doesn't reflect badly on Obama, you have to understand that due to inflation the dollar amount always goes up. But blanket statements without context or analysis are fun to make for partisans who have an axe to grind.

Also, if history is a decent marker we will expect this Republican president to do far worse in the eyes of fiscal conservatives than Obama ever touched.


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Re: Under Trump's watch, national debt tops $21 trillion for first time ever

Trump has a long way to go to catch Obables doubling the debt from ALL previous presidents ALL OF THEM TOGETHER.


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You do know that Reagan - the first president since FDR to blow up the deficit (though FDR did have this little thing called "WWII" going on at the time) - nearly tripled the debt (whereas it "merely" doubled under Obama), don't you?

What's that? Your're saying that the right-wing media never told you that? Imagine that!
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

1. According to Politifact, Obamacare was helping to REDUCE the deficit, and

2. Under Obamacare, we had a greater percentage of Americans covered by health insurance than ever before in our nation's history.

In other words, when it came to health care coverage for the American people, we had it better than ever, and was saving money doing it!

But I get it - if Obama did it, it must be bad/terrible/evil/socialist/perverted/whatever, 'cause that's what the right-wing media told you.

Please Pay Attention: The important number is total spending on health in the nation as measured by GDP, which is way way too high, and Obama did nothing to fix the problem because either he did not understand that medical is bankrupting the nation, or he did not care:


https://www.statista.com/statistics/184968/us-health-expenditure-as-percent-of-gdp-since-1960/
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

1. According to Politifact, Obamacare was helping to REDUCE the deficit, and

2. Under Obamacare, we had a greater percentage of Americans covered by health insurance than ever before in our nation's history.

In other words, when it came to health care coverage for the American people, we had it better than ever, and was saving money doing it!

But I get it - if Obama did it, it must be bad/terrible/evil/socialist/perverted/whatever, 'cause that's what the right-wing media told you.

Changing who pays more does not lower health care spending which continues to grow faster than general inflation.

https://www.healthsystemtracker.org...nding-growth-outpaced-growth-u-s-economy_2017
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

1. According to Politifact, Obamacare was helping to REDUCE the deficit, and

2. Under Obamacare, we had a greater percentage of Americans covered by health insurance than ever before in our nation's history.

In other words, when it came to health care coverage for the American people, we had it better than ever, and was saving money doing it!

But I get it - if Obama did it, it must be bad/terrible/evil/socialist/perverted/whatever, 'cause that's what the right-wing media told you.

Yes, by taxing all Americans who earned enough to be taxed to do it...so that the poorest got the "bronze" coverage. :roll:

I guess that coverage is better than no coverage at all...added to SNAP, welfare, government housing, and all the other social welfare programs people who earned enough are taxed to pay for.

But you seem to forget:

1. Congress decides what taxes to assess.

2. Congress decides how to allocate those taxes.

3. Congress adds all the pork barrel and special interest riders to various other legislation they pass...which drains the Federal income and requires more tax increases to cover them.

4. Health care (28%) and Pensions (25%) make up 53% of the Federal budget. Welfare adds another 9%. https://www.usgovernmentspending.com/federal_budget_pie

Trump, for all his other faults, is trying to improve the overall economy; first by trying to shrink all the regulatory agencies to cut operations costs, then by trying to repair unfair trade deficits, and finally by trying to stimulate growth in home grown industrial production.

The goal is to decrease American dependence on foreign markets, create more jobs with better wages, and thereby increase the tax base and their ability to share both the wealth and the tax burden.

That's how I see the difference anyway. :coffeepap:
 
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Re: Under Trump's watch, national debt tops $21 trillion for first time ever

It amazes me how now suddenly the national debt is no big deal.

What amazes me is how some people lack understanding of the roots of this national debt problem.

Instead of blaming the correct source, i.e. Congressional actions over DECADES of tax and spend legislation, combined (IMO) with trade deals like NAFTA and WTO which allowed production to flee to foreign lands giving greater profits to "multi-national" corporations while eliminating many middle class production jobs here....instead you prefer to blame tax cuts recently obtained via Congress by the current Administration as the source of all evil.

(Not to mention rampant inflation and our monetary policies over the same period). :coffeepap:
 
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Re: Under Trump's watch, national debt tops $21 trillion for first time ever

Yes, by taxing all Americans who earned enough to be taxed to do it...so that the poorest got the "bronze" coverage. :roll:

I guess that coverage is better than no coverage at all...added to SNAP, welfare, government housing, and all the other social welfare programs people who earned enough are taxed to pay for.

But you seem to forget:

1. Congress decides what taxes to assess.

2. Congress decides how to allocate those taxes.

3. Congress adds all the pork barrel and special interest riders to various other legislation they pass...which drains the Federal income and requires more tax increases to cover them.

4. Health care (28%) and Pensions (25%) make up 53% of the Federal budget. Welfare adds another 9%. https://www.usgovernmentspending.com/federal_budget_pie

Trump, for all his other faults, is trying to improve the overall economy; first by trying to shrink all the regulatory agencies to cut operations costs, then by trying to repair unfair trade deficits, and finally by trying to stimulate growth in home grown industrial production.

The goal is to decrease American dependence on foreign markets, create more jobs with better wages, and thereby increase the tax base and their ability to share both the wealth and the tax burden.

That's how I see the difference anyway. :coffeepap:

As long as you keep your head vapid and devoid of any history, you can claim trade wars will create jobs and increase revenue. Those of us that can read know better. Trump will go down in history as the worst President ever (even surpassing GW Bush!) and also be credited for destroying the GOP. Your party is lost and have no way out.
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

What amazes me is how some people lack understanding of the roots of this national debt problem.

Instead of blaming the correct source, i.e. Congressional actions over DECADES of tax and spend legislation, combined (IMO) with trade deals like NAFTA and WTO which allowed production to flee to foreign lands giving greater profits to "multi-national" corporations while eliminating many middle class production jobs here....instead you prefer to blame tax cuts recently obtained via Congress by the current Administration as the source of all evil.

(Not to mention rampant inflation and our monetary policies over the same period). :coffeepap:

Well let's think about this rationally. We could choose to take a former President and a former congress and hold them accountable and demand that they change their spending habits and hope that fixes the debt. But something Tells me Obama/Bush and former congress members may not have much of an impact. It is just a theory of mine but I tend to think that Obama/Bush/Former congresses are not capable of reducing debt anymore.

However the current administration could. They could reduce spending. They could address debt. But instead they are more interested in raising the debt and then using the pathetic crutch of "but Obama did it". By that logic our debt will only continue to grow. And when the next president and congress are in power, we can make excuses for them too until one day our debt holders decide to accept excuses as payment.
 
Re: Under Trump's watch, national debt tops $21 trillion for first time ever

Well let's think about this rationally. We could choose to take a former President and a former congress and hold them accountable and demand that they change their spending habits and hope that fixes the debt. But something Tells me Obama/Bush and former congress members may not have much of an impact. It is just a theory of mine but I tend to think that Obama/Bush/Former congresses are not capable of reducing debt anymore.

However the current administration could. They could reduce spending. They could address debt. But instead they are more interested in raising the debt and then using the pathetic crutch of "but Obama did it". By that logic our debt will only continue to grow. And when the next president and congress are in power, we can make excuses for them too until one day our debt holders decide to accept excuses as payment.

Yes, let's think of this rationally.

No one made any bones about this problem during prior administrations, when your viewpoint had the power to do something about it.

This administration has different goals (and no, I am not speaking of your identity politics, SJW demonization claims) which are to:

...improve the overall economy; first by trying to shrink all the regulatory agencies to cut operations costs, then by trying to repair unfair trade deficits, and finally by trying to stimulate growth in home grown industrial production.

The goal is to decrease American dependence on foreign markets, create more jobs with better wages, and thereby increase the tax base and their ability to share both the wealth and the tax burden.

Instead of simply increasing taxes...how about supporting an increase in the tax base overall by providing job opportunities to those who don't currently have them so as to fairly share the burdens by getting with the above program.
 
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Re: Under Trump's watch, national debt tops $21 trillion for first time ever

So, no one ever blamed the debt on the president from 2008-2016?


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I don't think blame falls on the executive only. It also falls on the legislature.

Nobody seems to want to cut spending.
 
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