Where are all the very serious people who were warning us about the increasing federal debt? I've not heard from them in the last couple of years.
Any information as to their present whereabouts would be appreciated.
Thank you.
Really a rather simple concept to understand, Congress spends the money and does to to buy votes, keep power and create dependence. The issue will always be return on that debt, what did the taxpayers get for that Congressional spending. The left has no problem with social spending and no problem with higher taxes. The American electorate responds better to lower taxes and more state and local responsibilities.
It isn't the issue of the debt as much as it is what do we get for that debt. Here is a comparison so let's see you the left actually gets it. Obama added 9.3 trillion to the debt in 8 years, Trump has been in office three years with 3 budget years including this one during a world wide pandemic and massive federal stimulus. Doubt that the left understands that and will continue to focus on higher taxes ignoring that higher taxes means less economic activity as people don't have extra money to spend. Hope this helps you understand the difference
There seems to be a real disconnect when it comes to debt and the results generated from that debt thus showing that all debt isn't equal. What exactly did the American taxpayers get out of the Obama debt??
1. The worst recovery from a major recession in modern history
2. Employment not getting back to pre recession levels until 2014
3. Record numbers of part time for economic reason employment meaning part time jobs thus lower taxpaying jobs
4. 500 billion average annual GDP growth for 8 years(4.0 Trillion GDP growth)
5. 9.3% U-6 Unemployment rate
6. Bail out of the pubic sector and claimed saved jobs which didn't generate the promised new jobs thus new taxpayers from 842 billion dollar shovel ready jobs stimulus
What have we gotten for the Trump debt
1. Strong economic growth, 900 billion average GDP growth 2017-2018-2019(2.7 trillion growth)
2. Employment of 6.6 million jobs created in 3 years vs. 6 million jobs created prior to taking office the last 9 years
3. 6.9% U-6 vs. 9.3% that he inherited
4. 1.4 million fewer part time for economic reason employees than inherited
5. 6% African American unemployment vs. the 8% inherited
6. Record state and local tax revenue due to consumer spending as a result of the tax cuts
7. No massive Gov't stimulus program pre pandemic