Lisa Benson for February 08, 2024

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    ShadowMaster  5 months ago

    This is news to anyone who isn’t living in dreamland?

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    thelordthygod666  5 months ago

    True, It began with the the Bush tax cuts, accelerated by spending for two pointless military adventures, and then became an avalanche with the Trump tax cut and spending for Sars-C0V-2 relief. Since overall spending will go up due to an aging nation, the only solution is tax increases.

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    franki_g  5 months ago

    When Trump was running up the debt, his supporters sneered at our alarm with “it takes money to make money”.

    It’s only an issue if D’s are in office, I guess.

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    dotbup  5 months ago

    The US economy faltered badly during the trump years, following multiple extraordinarily foolish calls.

    trump ’s first destructive decision was to slash the tax rate on the big, highly-profitable corporations from 35%, where it had been since 1993 (and much higher between 1942 and 1987), to just 21%. This immediately cut budget revenue, blew out the deficit and added trillions to the national debt.

    In 2019, the deficit was -4.7% of GDP, the worst of all developed members of the Organisation for Economic Cooperation and Development (OECD). Outcomes in Trump’s last year, 2020, were worsened by his gross mismanagement of the Covid pandemic. The deficit that year exploded to -15.0% of GDP, the worst on record by far.

    These plummeting deficits led to record debt, with an inexcusable $7.8 trillion added during the trump period. The USA recorded the OECD’s worst expansion of debt from 2016 to 2021. Eight well-managed economies actually reduced their debt substantially during that period.

    trump’s next harmful misstep was to impose unilateral tariffs, which provoked widespread retaliation, including cancellation of billions of dollars of farm exports. Primary products imported by China alone plummeted from $19.5 billion in 2017 to just $9 billion in 2018.

    Farmers rapidly lost their incomes, their savings, their farms and their lives. Best estimate of the number of farmer suicides, based on data from the National Farmers Union, the American Farm Bureau and clinical psychologists, is around 1,600.

    In frantic response to this, the trump Government scrambled to borrow billions of dollars, including from China, to give to farmers in emergency relief.

    Between 2018 and 2020, the hapless administration gave idle farmers a staggering $70.2 billion, all borrowed and all incurring interest payments for the indefinite future.

    Countless farmers who had prided themselves on contributing to America’s prosperity and to its culture of rugged individualism were reduced to beggars.

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    Ivan the Terrible   5 months ago

    Is it a symptom of TDS that the victims become increasingly verbose and irrational, dotbup?

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    BB71  5 months ago

    Thanks Joe!

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    Alberta Oil Premium Member 5 months ago

    The dept.. seems to go up with every republican president, funny that.

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    Retrac Premium Member 5 months ago

    Now he tells us??

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    David P. McLaughlin  5 months ago

    Democrats that talk down Trump’s economy, carefully leave OUT Fauci’s “shut down all small businesses” to “slow the spread of COVID” IS what shut down Trump’s full employment economy! ALLOWING small businesses to REOPEN accounts for ALL the job “gains” under Biden!

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    David P. McLaughlin  5 months ago

    CONTINUING to spend at the artificially ridiculous “recover from COVID” TRILLIONS more, instead of billions more, IS insane!

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    Diane Lee Premium Member 5 months ago

    When the Republicans have the White House they run up the debt. When Busch 1 began running up the debt, Chaney explained “Reagan has proven that Deficits Don’t Matter". They only become an issue for Republicans when a Democrat is in the White House and the bills need to be paid. Then they do this charade so that they can blame the Democrats and make points for the next election.

    Reagan took the deficit from 70 billion to 175 billion.

    Bush 41 took it to 300 billion.

    Clinton got it to zero.

    Bush 43 took it from 0 to 1.2 trillion.

    Obama halved it to 600 billion.

    Trump got it back to a trillion.

    Biden reduced it $350 billion his first year in office. And the budget office expects to see it drop by another 1 trillion, 500 billion dollars – the largest drop ever. This is despite a $1.9 Trillion pandemic relief package. The Republicans screamed about this at the time, but it is credited with funding a faster recovery than anywhere else in the world, and actually decreasing the debt further.

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    Joe1962 Premium Member 5 months ago

    Stop spending money like Sailors.

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    Nantucket Premium Member 5 months ago

    Lisa, the Repubs added TRILLIONS to debt / deficit with the Trump / Repub 2017 tax cuts for the wealthy and corporations. There was a great deal of outcry about this, but it wouldn’t be on Fox.

    BTW, that tax cut for corps. was used to buyback stock like the CEOs said they would. Then because of low interest rates (artificially kept low IMO), they borrowed MORE money to buy back more stock. They didn’t invest in their company or employees and combined with outsourcing to China and “just-in-time” inventory, this contributed to supply chain and economy problems when the pandemic hit.

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    Addled Brain  5 months ago

    This is not a Democratic or Republican thing. Our fiscal situation is out of control. Every member of Congress needs to get onboard and reduce our expenses and raise our taxes to balance our budget and pay off our oppressive debt.

    It’s outrageous that we’re putting our expenses on our children’s tab. Future Americans years and years into the future will have to pay for our expenses because our Congresspeople don’t have the backbone to take care of our Country’s business responsibly.

    Every year we pay as much in interest (not principal) on our enormous, choking debt as we we spend on National Defense. It’s outrageous. We all need to hold our Congresspeople’s feet to the fire and make them do right by American Citizens, not their own interests.

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    lawguy05  5 months ago

    Do you think Biden cares?? Of course not!

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    [Unnamed Reader - 14b4ce]  5 months ago

    So whatever pension we’re giving Trump., cancel it.

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    braindead Premium Member 5 months ago

    Unsustainable?

    Lisa’s solution: Elect Trump.

    After all, When Trump was in office both the debt and the deficit were the greatest, most bigly incredible the world has ever seen, right Lisa?

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    My First Premium Member 5 months ago

    Bidens spending led to the highest inflation in 40 years. We all lost, due to everything costing 17% more on the average, and the interest rates tripled to slow down inflation so if you bought a car a house etc you paid more for interest on your loan. Thank a democrat and then vote red!

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    braindead Premium Member 5 months ago

    “Jerome Powell went on 60 Minutes over the weekend and said the U.S. is on an unsustainable fiscal path. Do you think anyone is Washington heard him?”-LB

    ===

    Lisa wonders if anyone is(sic) Washington heard him?

    Certainly NO Republicans. Republicans have promised even more substantial tax cuts for the rich if they regain power.

    .

    Does Lisa believe that revenue is NOT a factor to be included in the ‘fiscal path’?

    Trump Disciple analysis skills. Again.

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    DC Swamp  5 months ago

    Americas chickens will be coming home to roost eventually, and the collapse won’t give a damm (misspelled intentionally) what party is in power.

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    Sun  5 months ago

    D for Democrat Debt.

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    Jack7528  5 months ago

    Love the clock behind the asteroid.

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    Jack7528  5 months ago

    Trump inherited two wars. And black unemployment was the lowest. Sorry gas was low, and people lived less on credit cards than today. And GDP did not fall under Trump. It grew and an incredible rate:

    trumpwhitehouse.archives.Gov/articles/new-economic-comeback-president-trump-breaks-70-year-record/

    What negatives were from covid, and it was the Governors who closed everything down. Not Trump.

    I am putting this outside of dotbub’s post cause I want everyone to see it.

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    Ontman  5 months ago

    It’s actually sad to see Benson continue to embarrass herself.

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    Sun  5 months ago

    Lisa Benson’s editorial today is as truthful today as always. Absolutely remarkable..

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