Republicans are to blame for the deficit

[TC Talks]

3/4 of all the deficit spending comes from Republican bills signed by Trump. So, why are you fiscally conservative types complaining about deficit?

WASHINGTON — President Biden will submit his latest budget request to Congress on Thursday, offering what his administration says will be $2 trillion in plans to reduce deficits and future growth of the national debt.

Republicans, who are demanding deep spending cuts in exchange for raising the nation’s borrowing cap, will almost certainly greet that proposal with a familiar refrain: Mr. Biden and his party are to blame for ballooning the debt.

But an analysis of House and Senate voting records, and of fiscal estimates of legislation prepared by the nonpartisan Congressional Budget Office, shows that Republicans bear at least equal blame as Democrats for the biggest drivers of federal debt growth that passed Congress over the last two presidential administrations.

The national debt has grown to $31.4 trillion from just under $6 trillion in 2000, bumping against the statutory limit on federal borrowing. That increase, which spanned the presidential administrations of two Republicans and two Democrats, has been fueled by tax cuts, wars, economic stimulus and the growing costs of retirement and health programs. Since 2017, when Donald J. Trump took the White House, Republicans and Democrats in Congress have joined together to pass a series of spending increases and tax cuts that the budget office projects will add trillions to the debt.

The analysis is based on the forecasts that the C.B.O. regularly issues for the federal budget. They include descriptions of newly passed legislation that affects spending, revenues and deficits, tallying the costs of those new laws over the course of a decade. Going back to the start of Mr. Trump’s tenure, those reports highlight 13 new laws that, by the C.B.O.’s projections, will combine to add more than $11.5 trillion to the debt.

Nearly three-quarters of that new debt was approved in bills that gained the support of a majority of Republicans in at least one chamber of Congress. Three-fifths of it was signed into law by Mr. Trump.

Some of those bills were in response to emergencies, like the early rounds of stimulus payments to people and businesses during the pandemic. Others were routine appropriations bills, which increased spending on the military and on domestic issues like research and education.

[Bryce]

You have brown eyes don't you?

[Rate This]

You have brown eyes don't you?

Deficits have come down under the last 3 Democratic Administrations and ballooned under the last 2 Republican administrations. These are facts.

[Bryce]

Pretty hard for a deficit not to come down after all the wasted covid money the democrat congress spent.

[Honeyman]

Pretty hard for a deficit not to come down after all the wasted covid money the democrat congress spent.

Okay, but why did it come down the 2 previous Democrat administrations and increase the last two GOPs?

[TC Talks]

Pretty hard for a deficit not to come down after all the wasted covid money the democrat congress spent.

Okay, but why did it come down the 2 previous Democrat administrations and increase the last two GOPs?

He's going to start throwing snarky repose...

[Bryce]

Pretty hard for a deficit not to come down after all the wasted covid money the democrat congress spent.

Okay, but why did it come down the 2 previous Democrat administrations and increase the last two GOPs?

That's simply not true.

President Obama had the largest deficits in history. By the end of his final budget, FY 2017, his budget deficits totaled $6.781 trillion over his eight years in office. That's a 58% increase from President George W. Bush's last budget.[/quote]

[TC Talks]

Pretty hard for a deficit not to come down after all the wasted covid money the democrat congress spent.

Okay, but why did it come down the 2 previous Democrat administrations and increase the last two GOPs?

That's simply not true.

President Obama had the largest deficits in history. By the end of his final budget, FY 2017, his budget deficits totaled $6.781 trillion over his eight years in office. That's a 58% increase from President George W. Bush's last budget.

Not according to the CBO. Even so, aren't the Republicans wetting their pants over the deficit? Kind of makes the a whiny pack of conservative victims of their own spending?

[Mega Hertz]

You have brown eyes don't you?

I think Van Morrison had an anal fetish. "Brown Eye Girl", "Moondance", I think the guy was a freak.

[A1B1C1D1]

Historically deficits came down under every President since Reagan, then they ballooned under Reagan and haven't stopped. But there are numerous factors such as world trade decimating so many American industries, finally ending the gold standard in the 70's, Americans living longer and less healthy lifestyles on entitlements and so on.

There is no political consequence to deficits for either party, and if you open a treasury direct account you can get a decent savings rate on federal taxable treasuries. Only the government is paying decent right now, banks can't get much in savings and have billions of loans out at under 4% interest.

[TC Talks]

So deficit spending has yet to bring all the predicted doom...

[MotorCityRadioFreak]

3/4 of all the deficit spending comes from Republican bills signed by Trump. So, why are you fiscally conservative types complaining about deficit?

WASHINGTON — President Biden will submit his latest budget request to Congress on Thursday, offering what his administration says will be $2 trillion in plans to reduce deficits and future growth of the national debt.

Republicans, who are demanding deep spending cuts in exchange for raising the nation’s borrowing cap, will almost certainly greet that proposal with a familiar refrain: Mr. Biden and his party are to blame for ballooning the debt.

But an analysis of House and Senate voting records, and of fiscal estimates of legislation prepared by the nonpartisan Congressional Budget Office, shows that Republicans bear at least equal blame as Democrats for the biggest drivers of federal debt growth that passed Congress over the last two presidential administrations.

The national debt has grown to $31.4 trillion from just under $6 trillion in 2000, bumping against the statutory limit on federal borrowing. That increase, which spanned the presidential administrations of two Republicans and two Democrats, has been fueled by tax cuts, wars, economic stimulus and the growing costs of retirement and health programs. Since 2017, when Donald J. Trump took the White House, Republicans and Democrats in Congress have joined together to pass a series of spending increases and tax cuts that the budget office projects will add trillions to the debt.

The analysis is based on the forecasts that the C.B.O. regularly issues for the federal budget. They include descriptions of newly passed legislation that affects spending, revenues and deficits, tallying the costs of those new laws over the course of a decade. Going back to the start of Mr. Trump’s tenure, those reports highlight 13 new laws that, by the C.B.O.’s projections, will combine to add more than $11.5 trillion to the debt.

Nearly three-quarters of that new debt was approved in bills that gained the support of a majority of Republicans in at least one chamber of Congress. Three-fifths of it was signed into law by Mr. Trump.

Some of those bills were in response to emergencies, like the early rounds of stimulus payments to people and businesses during the pandemic. Others were routine appropriations bills, which increased spending on the military and on domestic issues like research and education.

The real bloat in the budget is the military industrial complex with millions upon millions wasted each year. But hey, let’s focus on drag shows and the “evil transgenders”.

[Rate This]

Pretty hard for a deficit not to come down after all the wasted covid money the democrat congress spent.

Okay, but why did it come down the 2 previous Democrat administrations and increase the last two GOPs?

That's simply not true.

President Obama had the largest deficits in history. By the end of his final budget, FY 2017, his budget deficits totaled $6.781 trillion over his eight years in office. That's a 58% increase from President George W. Bush's last budget.

[/quote]
Because of the Great Recession that comparison isn't really that accurate. Not only was a lot of money spent at the beginning of Obama's Administration to try to right the ship but each successive year the federal deficit shrank. Then under Trump it went up drastically.