Nobody knows debt better Trump

[Straw Man]

After dropping for almost all of President Obama's term (during which time Trumptard believed the UE rate was as high as 42%) suddenly the trend is reversed and now we need to borrow more money.

Why would we need to suddenly start borrowing more money when the economy is doing so well ?

Treasury Sees 2018 Borrowing Needs Surging to $1.34 Trillion

The U.S. Treasury Department said government borrowing this year will more than double from 2017 to $1.34 trillion as the Trump administration finances a rising budget deficit.

The federal budget deficit grew to a six-year high of $779 billion in the 12 months through Sept. 30, which was Trump’s first full fiscal year in office. The Congressional Budget Office, a nonpartisan arm of Congress, forecasts government spending will outweigh revenue by $973 billion in fiscal 2019 and more than $1 trillion the next year.

https://www.bloomberg.com/news/articles/2018-10-29/treasury-sees-2018-borrowing-needs-surging-to-1-34-trillion

[Soul Crusher]

After dropping for almost all of President Obama's term (during which time Trumptard believed the UE rate was as high as 42%) suddenly the trend is reversed and now we need to borrow more money.

Why would we need to suddenly start borrowing more money when the economy is doing so well ?


https://www.bloomberg.com/news/articles/2018-10-29/treasury-sees-2018-borrowing-needs-surging-to-1-34-trillion

Went down after fagbama the loser got shellacked in 2010

[Irongrip400]

After dropping for almost all of President Obama's term (during which time Trumptard believed the UE rate was as high as 42%) suddenly the trend is reversed and now we need to borrow more money.

Why would we need to suddenly start borrowing more money when the economy is doing so well ?


https://www.bloomberg.com/news/articles/2018-10-29/treasury-sees-2018-borrowing-needs-surging-to-1-34-trillion

Cheaper/lower interest rates?

[Coach is Back!]

GDP and Debt

Rex Sinquefield at Forbes in October of 2016, shortly before the 2016 election, wrote the following –

The Obama recovery of the last seven years remains the worst in postwar American history. Average gross domestic product (GDP) growth since the bottom of the recession in 2009 was barely above 2.1% per year. The average since 1949 is well above 4% per year during the previous 10 expansions.

This result is not just bad, it is catastrophic. The average American should not be wondering if his or her income is a bit above or below 2007 levels. Just by historical averages, the average American should be 20% better off than in 2007. And this slow growth is settling in as a permanent new-abnormal.

I believe the root cause of abysmal growth is the huge tax increases imposed by Obama and the Democrats in Congress since 2008. The most harmful were the increase in the capital gains tax from 15 to 20 percent, the increase in top bracket income from 35 to 39.6 percent, and the new tax of 3.8 percent on investment income in the Affordable Care Act (ACA). The massive increase in regulatory burden through the ACA and Dodd-Frank bills are also crushing, but unfortunately are harder to measure.

President Trump however reached a GDP of 4.2% in the 2nd quarter of 2018 and 3.5% in the 3rd quarter.  With a GDP in the 4th quarter of around 3%, the GDP for the year will be greater than 3%.  Something the prior President Obama never did and said no longer could be done.

In regards to debt, President Obama increased the amount of US debt astronomically. By the time Obama left office he had doubled the US debt to $20 trillion and incurred as much debt as all previous Presidents combined. President Trump is slowing that trend.

President Trump has added about $1.7 to the national debt and spending must come down.  But because of the increase in GDP, the Debt to GDP ratio under President Trump is declining. President Obama increased the US debt to GDP ratio by 40% from around 60% in 2009 to over 100% in 2016.

With his increasing GDP and slowing of debt increases, President Trump has managed to decrease the debt to GDP ratio in the 2 years since the 2016 election. This is a very good result that is rarely mentioned by the MSM.

[Straw Man]

Cheaper/lower interest rates?

nope

increased spending and lower tax revenue

Republicans favorite recipe to fuck the country (remember the Bush Tax cuts and the massive increase in spending)

[Coach is Back!]

GDP and Debt

Rex Sinquefield at Forbes in October of 2016, shortly before the 2016 election, wrote the following –

The Obama recovery of the last seven years remains the worst in postwar American history. Average gross domestic product (GDP) growth since the bottom of the recession in 2009 was barely above 2.1% per year. The average since 1949 is well above 4% per year during the previous 10 expansions.

This result is not just bad, it is catastrophic. The average American should not be wondering if his or her income is a bit above or below 2007 levels. Just by historical averages, the average American should be 20% better off than in 2007. And this slow growth is settling in as a permanent new-abnormal.

I believe the root cause of abysmal growth is the huge tax increases imposed by Obama and the Democrats in Congress since 2008. The most harmful were the increase in the capital gains tax from 15 to 20 percent, the increase in top bracket income from 35 to 39.6 percent, and the new tax of 3.8 percent on investment income in the Affordable Care Act (ACA). The massive increase in regulatory burden through the ACA and Dodd-Frank bills are also crushing, but unfortunately are harder to measure.

President Trump however reached a GDP of 4.2% in the 2nd quarter of 2018 and 3.5% in the 3rd quarter.  With a GDP in the 4th quarter of around 3%, the GDP for the year will be greater than 3%.  Something the prior President Obama never did and said no longer could be done.

In regards to debt, President Obama increased the amount of US debt astronomically. By the time Obama left office he had doubled the US debt to $20 trillion and incurred as much debt as all previous Presidents combined. President Trump is slowing that trend.

President Trump has added about $1.7 to the national debt and spending must come down.  But because of the increase in GDP, the Debt to GDP ratio under President Trump is declining. President Obama increased the US debt to GDP ratio by 40% from around 60% in 2009 to over 100% in 2016.

With his increasing GDP and slowing of debt increases, President Trump has managed to decrease the debt to GDP ratio in the 2 years since the 2016 election. This is a very good result that is rarely mentioned by the MSM.

Bump for strawman

[Soul Crusher]

nope

increased spending and lower tax revenue

Republicans favorite recipe to fuck the country (remember the Bush Tax cuts and the massive increase in spending)

That is a lie and you know it.  Tax revenue was and is at all time highs

[loco]

Looks highest around 2010, with a very steep climb leading up to that point.  Looks like nobody knows debt better than Obama, but he dindu nuffin.

[Humble Narcissist]

GDP and Debt

Rex Sinquefield at Forbes in October of 2016, shortly before the 2016 election, wrote the following –

The Obama recovery of the last seven years remains the worst in postwar American history. Average gross domestic product (GDP) growth since the bottom of the recession in 2009 was barely above 2.1% per year. The average since 1949 is well above 4% per year during the previous 10 expansions.

This result is not just bad, it is catastrophic. The average American should not be wondering if his or her income is a bit above or below 2007 levels. Just by historical averages, the average American should be 20% better off than in 2007. And this slow growth is settling in as a permanent new-abnormal.

I believe the root cause of abysmal growth is the huge tax increases imposed by Obama and the Democrats in Congress since 2008. The most harmful were the increase in the capital gains tax from 15 to 20 percent, the increase in top bracket income from 35 to 39.6 percent, and the new tax of 3.8 percent on investment income in the Affordable Care Act (ACA). The massive increase in regulatory burden through the ACA and Dodd-Frank bills are also crushing, but unfortunately are harder to measure.

President Trump however reached a GDP of 4.2% in the 2nd quarter of 2018 and 3.5% in the 3rd quarter.  With a GDP in the 4th quarter of around 3%, the GDP for the year will be greater than 3%.  Something the prior President Obama never did and said no longer could be done.

In regards to debt, President Obama increased the amount of US debt astronomically. By the time Obama left office he had doubled the US debt to $20 trillion and incurred as much debt as all previous Presidents combined. President Trump is slowing that trend.

President Trump has added about $1.7 to the national debt and spending must come down.  But because of the increase in GDP, the Debt to GDP ratio under President Trump is declining. President Obama increased the US debt to GDP ratio by 40% from around 60% in 2009 to over 100% in 2016.

With his increasing GDP and slowing of debt increases, President Trump has managed to decrease the debt to GDP ratio in the 2 years since the 2016 election. This is a very good result that is rarely mentioned by the MSM.

You're not supposed to read the last paragraph.