Most of the “Obama Debt” was due to inheriting an economy that was rapidly sliding towards another Great Depression. Government revenues (aka taxes) plummeted along with corporate revenues & personal incomes. Back in 1930, Hoover cut spending in response to the shortfalls in revenue.
The GOP tax cuts will drive up the deficit during an economic expansion, just like they did in 2001. When the next inevitable recession hits, some poor Democrat will probably get blamed, again.
Most of the “Obama Debt” was due to inheriting an economy that was rapidly sliding towards another Great Depression. Government revenues (aka taxes) plummeted along with corporate revenues & personal incomes. Back in 1930, Hoover cut spending in response to the shortfalls in revenue.
The GOP tax cuts will drive up the deficit during an economic expansion, just like they did in 2001. When the next inevitable recession hits, some poor Democrat will probably get blamed, again.