Scott Stantis for February 11, 2023

Ok?

I have no idea what this have to do with intrest rates

A little out of shape, are we?

Ya need another label or two on this one, Scott.

Obviously, Scott, you need more orange to accurately convey what the Fat Orange Clown and the GOPQ did to the debt.

Who is it?

Biden has trimmed about 1.7 trillion off of the deficit in two years. Unlike Orange Traitor who added something like 25 percent more too it in, and through tax cuts to the wealthy that didn’t need the, makes sure it doesn’t come down faster.

Learned today that Reagan raised the debt ceiling a record 18 times while he was president.

Gonna need a bigger bike.

Leaving Afghanistan = no more dead and wounded marines and soldiers + loss of national treasure.

8 trillion in tax breaks for rich people went right to his hips.

As long as we refuse to address the sacred cow of military spending, there will be no meaning cutting.

The interest rates had been kept artificially low for far longer than they should have been. Many CEOs and execs, especially the wealthiest, get paid in stock options. Since they didn’t think their lower capital gains rate were enough of a break and they had to hold the stock options for a while, instead they borrowed using the stock options as collateral.

For those touting the Biden deficit reduction:

The deficit in 2022 was the fourth highest in history at $1.38 Trillion (2020, 2021, 2009 being higher), so yes, it was lower following the two highest deficits in history.

It was about $400 billion higher than the pre-pandemic 2019 deficit of $980 billion, which was the fifth highest after the trillion dollar deficits from 2019-2012.

Trimming the deficit from record highs due to an economic catastrophe is not much to brag about since it was still 40% higher than the pre-pandemic deficit.

Reaganomics!