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The Donald Trump Economy - National Debt now at 26 Trillion
08-08-2020, 11:21 PM
Post: #1
The Donald Trump Economy - National Debt now at 26 Trillion
MY NAME IS DONALD J TRUMP AND I APPROVE THIS MESSAGE

Those who know, know! Big Grin
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08-09-2020, 12:35 AM
Post: #2
RE: The Donald Trump Economy - National Debt now at 26 Trillion
Democrats panicked and Republicans caved. What else is new?
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08-09-2020, 12:36 AM
Post: #3
RE: The Donald Trump Economy - National Debt now at 26 Trillion
same old song and dance. break free from the false two party system
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08-09-2020, 01:32 AM
Post: #4
RE: The Donald Trump Economy - National Debt now at 26 Trillion
trump and ccp propaganda are quite similar
https://mobile.twitter.com/realDonaldTru...4943908865
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08-09-2020, 02:46 AM
Post: #5
RE: The Donald Trump Economy - National Debt now at 26 Trillion
(08-09-2020 12:36 AM)pug-thug Wrote:  same old song and dance. break free from the false two party system

The levers are pulled in the same place, for both parties (I don't think we are allowed to say from where these orders come).

That does not mean conservative ideology and leftist ideology are identical (aka 'horseshoe theory').
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08-09-2020, 03:21 AM (This post was last modified: 08-09-2020 03:21 AM by karasu.)
Post: #6
RE: The Donald Trump Economy - National Debt now at 26 Trillion
one day the current system will collapse.....there will be a phase of severe economic suck........and then the beginning of a new era

it will not be because "Democrat/Republican" but just a natural evolution of birth, growth, death of one system/rule leading and then it will begin again......
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08-09-2020, 03:23 AM
Post: #7
RE: The Donald Trump Economy - National Debt now at 26 Trillion
.....or there is the possibility that tech-advance could make possible that there will be no "economic suck" and those of us LUCKY enough to be living the FIRST world will just enjoy the tech-evolution into the good life.......
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08-09-2020, 04:03 AM
Post: #8
RE: The Donald Trump Economy - National Debt now at 26 Trillion
(08-09-2020 03:23 AM)karasu Wrote:  .....or there is the possibility that tech-advance could make possible that there will be no "economic suck" and those of us LUCKY enough to be living the FIRST world will just enjoy the tech-evolution into the good life.......

Yes, because billionaires don't want to control us all, they just want what is best for us. Right...
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08-09-2020, 04:31 AM
Post: #9
RE: The Donald Trump Economy - National Debt now at 26 Trillion
(08-09-2020 04:03 AM)Chaos Reigns Wrote:  
(08-09-2020 03:23 AM)karasu Wrote:  .....or there is the possibility that tech-advance could make possible that there will be no "economic suck" and those of us LUCKY enough to be living the FIRST world will just enjoy the tech-evolution into the good life.......

Yes, because billionaires don't want to control us all, they just want what is best for us. Right...


billionaires want $$$ and the IMMORTALITY of GAME CHANGING FAME and if the derivative is that their innovation leads to the Improved Human Experience of Leisure Living then that's just a convenient consequence
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08-09-2020, 05:26 AM
Post: #10
RE: The Donald Trump Economy - National Debt now at 26 Trillion
.
Good grief the whole global economy is tanking from a pandemic and you make this thread?
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08-09-2020, 05:40 AM
Post: #11
RE: The Donald Trump Economy - National Debt now at 26 Trillion
.
The Five Presidents with the Worst Deficits So Far

The four presidents with the worst deficits were Barack Obama, George W. Bush, Ronald Reagan, and George H.W. Bush. The current president, Donald Trump, is on track to join that list by the end of his first term.
Barack Obama

President Obama had the largest deficits. By the end of his final budget, FY 2017, his budget deficits totaled $6.781 trillion. That's a 58% increase.

Obama took office during the Great Recession. He immediately needed to spend billions to stop it. He convinced Congress to add $253 billion from the economic stimulus package to Bush’s FY 2009 budget. The American Recovery and Reinvestment Act added another $534 billion over the rest of Obama’s terms.6

In 2010, the Obama tax cut added $858 billion in deficits in its first two years. Federal income decreased due to lower tax receipts from the 2008 financial crisis.

Both Presidents Bush and Obama suffered from higher mandatory spending than their predecessors did. Social Security and Medicare benefits were eating up more of the budget. Health care costs were rising as the American population aged.

In 2010, Obama signed the Patient Protection and Affordable Care Act.7 It sought to reduce health care spending. The Congressional Budget Office and the Joint Committee on Taxation estimated that the legislation would reduce federal deficits by $337 billion between 2017 and 2026.8
George W. Bush

President Bush took office in 2001. He racked up $3.293 trillion in deficits, a 57% increase.9

He responded to the 9/11 attacks with the War on Terror. That raised military spending. The Bush tax cuts addressed the 2001 recession.10 Unfortunately, the cuts did not sunset when the recession was over. That depleted revenues during the 2008 recession. Bush attacked the financial crisis with the bank bailout. Congress added the bailout to the mandatory budget. There it became the Troubled Asset Relief Program (TARP).11
Ronald Reagan

President Reagan took office in 1981. He added $1.412 trillion in deficits, and almost doubled the debt.12 He fought the 1982 recession by getting the Economic Recovery Tax Act of 1981 passed. It reduced the highest marginal income tax rate from 70% to 50%. The Act reduced the corporate income tax for companies with taxable income of $50,000 or less.13

Reagan also increased government spending by 2.5% a year. That included a 35% increase in the defense budget and an expansion of Medicare.
George H.W. Bush

President George H.W. Bush took office in 1989, accumulating $1.036 trillion in deficits in one term. He responded to Iraq's invasion of Kuwait with Desert Storm. He oversaw the bailout plan that ended the 1989 Savings and Loan crisis. The final cost of resolving failed S&Ls is estimated at just over $160 billion.14 The 1991 recession cut into tax revenue.15
Donald Trump

President Trump took office in 2017. According to the FY 2021 budget, his budget deficits will total $3.812 trillion in his first term, a 19% increase.16 If he wins a second term, that figure will rise to $7.097 trillion, a 35% increase. He would then become the biggest spender of all presidents.

The Congressional Budget Office predicted that the COVID-19 pandemic would raise the FY 2021 deficit to $2.1 trillion. The FY 2020 deficit will be $3.7 trillion.

During the last year of his term, the COVID-19 pandemic broke out. It caused the 2020 stock market crash and recession. Trump declared a state of emergency in March, suggesting people should shelter-in-place. Many businesses closed, some for good. Congress passed the $2 trillion CARES Act, along with other stimulus measures. The combination of reduced tax receipts and stimulus spending created the record deficit levels.
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08-09-2020, 05:43 AM (This post was last modified: 08-09-2020 05:43 AM by karasu.)
Post: #12
RE: The Donald Trump Economy - National Debt now at 26 Trillion
the Mascot of Capitalism should be the TICK.

*the insect, not the Cartoon Character*
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08-09-2020, 10:41 PM
Post: #13
RE: The Donald Trump Economy - National Debt now at 26 Trillion
THEAMERICANDREAM, ABANDONED


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