As Republicans Start to Go Crazy Over the Federal Budget Deficit and the Looming Debt Ceiling, Remember that Recent History Shows Democrats Usually Decrease The Yearly Federal Deficit While In Office while Republicans Always Increase Them.

[CoffeeTiger 5,099]

Ronald Regan:

Federal Deficit In Year 1 of Presidency: $128 Billion

Federal Deficit In Final Year of Presidency: $153 Billion 

+$28 Billion

George H.W Bush

Federal Deficit In Year 1 of Presidency: $221 Billion

Federal Deficit In Final Year of Presidency: $255 Billion

+$34 Billion

Bill Clinton

 

Federal Deficit In Year 1 of Presidency: $203 Billion

Federal Deficit In Final Year of Presidency: $0 ($128 Billion Federal surplus)

(-$331 Billion)

George W Bush 

 

Federal Deficit In Year 1 of Presidency: $158 Billion

Federal Deficit In Final Year of Presidency: $1.16 Trillion

+ 1 Trillion

Barak Obama

Federal Deficit In Year 1 of Presidency: $1.5 Trillion

Federal Deficit In Final Year of Presidency: $665 Billion 

(-$835 Billion)

Donald Trump

Federal Deficit In Year 1 of Presidency: $779 Billion

Federal Deficit In Final Year of Presidency:  $1.56 Trillion

   + 700 Billion 

 

[wdefromtx 3,159]

LOL, some of the biggest decreases in the deficit occurred when the Republicans controlled both the house and senate. You might want to mention that.......

[jj3jordan 2,050]

1 hour ago, wdefromtx said:

LOL, some of the biggest decreases in the deficit occurred when the Republicans controlled both the house and senate. You might want to mention that.......

Those stats do not tell the story. But I wouldn't expect democrats to actually tell the truth.

[AU9377 4,924]

16 hours ago, jj3jordan said:

Those stats do not tell the story. But I wouldn't expect democrats to actually tell the truth.

Do tell of this truth.

Edited September 24, 2021 by AU9377

[wdefromtx 3,159]

2 hours ago, AU9377 said:

Do tell of this truth.

Truth is, look at who controlled Congress at the time. 

[jj3jordan 2,050]

3 hours ago, AU9377 said:

Do tell of this truth.

Doesn’t take into account the economic status that existed prior to them taking office. Some of them rode the wave of the previous president. Others had to deal with massive economic turmoil when they took over.

[AU9377 4,924]

6 hours ago, jj3jordan said:

Doesn’t take into account the economic status that existed prior to them taking office. Some of them rode the wave of the previous president. Others had to deal with massive economic turmoil when they took over.

True.  Obama inherited a total cluster f***.   Economy was in shreds due to the mortgage crisis, military war time spending was out of control and we were having to save the auto industry from collapse.

[DKW 86 7,419]

This is one of several reasons I left the GOP. They do not take any of this seriously at all. Same with Abortion. Been following politics for 40 years. The GOP has never one time except for 1998, lived up to its promises. The spend like crazy on tax cuts for the rich, screw the middle class, and collect from dumbasses like myself years ago who fall for their BS. They dont mean one word they say about Abortion nor Cutting the Deficit/ Not one word.

When they named Hastert speaker, every one in the GOP had heard about the rumors of Hastert and his trouble with his wrestlers as a coach, and the payoffs. They still made that SOB Speaker of the House. All that ended my time in the GOP. They do not mean one word of it. NOT ONE WORD.

[bigbird 60,490]

On 9/24/2021 at 12:43 PM, AU9377 said:

Do tell of this truth.

Quick question, if not for Covid/Pandemic where would Trump's % be on that list? And if too hypothetical, how was it tracking across the term before the outbreak?

 

The spending is the part of the equation that is out of balance. If congress wants to spend more then they need to tax more.  If they passed a tax bill increasing revenue before attempting historical spending, I'd be more willing to support the spending bills.

[jj3jordan 2,050]

14 hours ago, AU9377 said:

True.  Obama inherited a total cluster f***.   Economy was in shreds due to the mortgage crisis, military war time spending was out of control and we were having to save the auto industry from collapse.

Wasn’t oil spiking too? $150/bbl?  Summer of ‘08 I thought. That plus interest rates causing home buying to slow or stop were big factors coupled together.

[homersapien 11,362]

1 hour ago, bigbird said:

Quick question, if not for Covid/Pandemic where would Trump's % be on that list? And if too hypothetical, how was it tracking across the term before the outbreak?

 

The spending is the part of the equation that is out of balance. If congress wants to spend more then they need to tax more.  If they passed a tax bill increasing revenue before attempting historical spending, I'd be more willing to support the spending bills.

Likewise, if Republicans reduced spending prior to enacting tax decreases.... 

Edited September 25, 2021 by homersapien

[wdefromtx 3,159]

2 hours ago, bigbird said:

Quick question, if not for Covid/Pandemic where would Trump's % be on that list? And if too hypothetical, how was it tracking across the term before the outbreak?

 

The spending is the part of the equation that is out of balance. If congress wants to spend more then they need to tax more.  If they passed a tax bill increasing revenue before attempting historical spending, I'd be more willing to support the spending bills.

 

[AU9377 4,924]

2 hours ago, bigbird said:

Quick question, if not for Covid/Pandemic where would Trump's % be on that list? And if too hypothetical, how was it tracking across the term before the outbreak?

 

The spending is the part of the equation that is out of balance. If congress wants to spend more then they need to tax more.  If they passed a tax bill increasing revenue before attempting historical spending, I'd be more willing to support the spending bills.

The corporate tax restructuring cost around $1.5 trillion in lost revenue.  I agree that spending is out of control.  Unfortunately, Congress seems willing to spend, provided that everybody gets more money.  We have got to  reduce the amount we spend on several budget areas and "defense" spending has to be one of them.  In addition to that, the amount of the Federal budget spent on health care related spending is also out of control.  For that level of spending, every American should be covered for basic health care needs.  We all know that is not the case. Safety net spending is bloated, but that has become par for the course.

[homersapien 11,362]

Let's not forget that Republicans oppose any efforts to collect legally-owed taxes:

 

https://www.reuters.com/world/us/us-infrastructure-deal-teeters-after-republicans-reject-irs-funds-2021-07-20/

U.S. infrastructure deal teeters after Republicans reject IRS funding

 

 

https://slate.com/business/2021/07/republicans-taxes-irs-bipartisan-infrastructure.html

Republicans Have Taken a Brave Stand in Defense of Tax Cheats

 

https://www.latimes.com/opinion/story/2021-07-14/editorial-the-gop-arguments-against-making-the-irs-more-effective-are-ridiculous

Editorial: The GOP arguments against making the IRS more effective are ridiculous

 

 

 

Edited September 26, 2021 by homersapien

[AU9377 4,924]

I will say this... The House needs to pass the bi-partisan infrastructure deal passed by the Senate.  At least get that done.  If not, it will come back to haunt Democrats and will certainly not help them retain control of the House.

[jj3jordan 2,050]

On 9/26/2021 at 11:39 AM, homersapien said:

Let's not forget that Republicans oppose any efforts to collect legally-owed taxes:

 

https://www.reuters.com/world/us/us-infrastructure-deal-teeters-after-republicans-reject-irs-funds-2021-07-20/

U.S. infrastructure deal teeters after Republicans reject IRS funding

 

 

https://slate.com/business/2021/07/republicans-taxes-irs-bipartisan-infrastructure.html

Republicans Have Taken a Brave Stand in Defense of Tax Cheats

 

https://www.latimes.com/opinion/story/2021-07-14/editorial-the-gop-arguments-against-making-the-irs-more-effective-are-ridiculous

Editorial: The GOP arguments against making the IRS more effective are ridiculous

 

 

 

Are these the irs agents the ones Biden wants to hire to audit any account anywhere with more than $600 of activity? That seems a little..intrusive.

[Shoney'sPonyBoy 338]

On 9/24/2021 at 10:31 PM, AU9377 said:

True.  Obama inherited a total cluster f***.   Economy was in shreds due to the mortgage crisis, military war time spending was out of control and we were having to save the auto industry from collapse.

O.k., but Democrats caused the mortgage crisis by forcing banks to loan money to unqualified borrowers.

[Shoney'sPonyBoy 338]

On 9/25/2021 at 9:20 AM, DKW 86 said:

This is one of several reasons I left the GOP. They do not take any of this seriously at all. Same with Abortion. Been following politics for 40 years. The GOP has never one time except for 1998, lived up to its promises. The spend like crazy on tax cuts for the rich, screw the middle class, and collect from dumbasses like myself years ago who fall for their BS. They dont mean one word they say about Abortion nor Cutting the Deficit/ Not one word.

When they named Hastert speaker, every one in the GOP had heard about the rumors of Hastert and his trouble with his wrestlers as a coach, and the payoffs. They still made that SOB Speaker of the House. All that ended my time in the GOP. They do not mean one word of it. NOT ONE WORD.

I agree that Republicans do not  mean what they say.  Because of this I do not think they even wish to be a majority party...when in the minority they can blame Democrats for their supposed agenda not being passed.

Where I disagree is this:  A tax cut is not spending.  If I buy something for $10, the amount of value stays the same.  I just converted some of the money into a tangible object worth $10.  If my salary gets cut by $10, then I really do have $10 less value.

We do not have a revenue problem, we have a spending problem and neither party will address it.  In the above analogy we are not trading money for value, we are riding down the road lighting $10 bills on fire and flinging them out the window.

I also will point to the last year or so's state legislatures that have passed abortion laws designed to end up in the SCOTUS.  There are some Republicans serious about abortion, just none of them are at the national level.

[AU9377 4,924]

3 hours ago, Shoney'sPonyBoy said:

O.k., but Democrats caused the mortgage crisis by forcing banks to loan money to unqualified borrowers.

Really?  Banks were selling loans on the secondary market that were based on fudged appraisals and an over inflated real estate market.  Banks weren't requiring much more than a statement of income before approving a loan.  I can't tell you how many times I have closed a refinance that everyone in the room knew was a joke.  Someone would buy a home for $150,000 and 15 months later refinance that same home for $275,000.  The only thing that changed would be an appraisal.  The bank would tell the appraiser that they needed it to come back as close to $300,000 as possible and like magic it would.

Part of the blame is also on the individual borrowers.  Two people get married and then believe an agent when they tell them that they can afford a home based on their joint income.  After all, everybody does it this way....  They then buy a house for the low low price of $425,000 and spend one of their incomes to pay their mortgage and power bill each month.  In keeping with what we know happens, half of these couples split.  Then neither can afford the home that they didn't need to begin with and if a quick sale isn't possible, a default is inevitable.

There were a lot of reasons for that crisis, most having something to do with greed.

[AU9377 4,924]

3 hours ago, Shoney'sPonyBoy said:

I agree that Republicans do not  mean what they say.  Because of this I do not think they even wish to be a majority party...when in the minority they can blame Democrats for their supposed agenda not being passed.

Where I disagree is this:  A tax cut is not spending.  If I buy something for $10, the amount of value stays the same.  I just converted some of the money into a tangible object worth $10.  If my salary gets cut by $10, then I really do have $10 less value.

We do not have a revenue problem, we have a spending problem and neither party will address it.  In the above analogy we are not trading money for value, we are riding down the road lighting $10 bills on fire and flinging them out the window.

I also will point to the last year or so's state legislatures that have passed abortion laws designed to end up in the SCOTUS.  There are some Republicans serious about abortion, just none of them are at the national level.

I agree that we have a spending problem.  That problem isn't limited to social spending and safety net issues.  Corporate welfare and military spending are every bit as detrimental to the budget.  In theory, a tax cut isn't spending, but in reality it is when there are no corresponding cuts in spending. That increases the deficit and resulting debt.

We can't even get intelligent people to acknowledge basic facts because they are concerned that it may take money from some group that has supported their campaigns.  Health care in this country is a train wreck.  The American people get no better care than residents of the EU, U.K., Australia etc, yet we pay out the nose personally and thru our government.  The Federal govt spends per capita twice what the U.K. spends and for that we get bankruptcy and big bills, no basic preventive care and increasing costs yearly.

[Shoney'sPonyBoy 338]

2 hours ago, AU9377 said:

Really?  Banks were selling loans on the secondary market that were based on fudged appraisals and an over inflated real estate market.  Banks weren't requiring much more than a statement of income before approving a loan.  I can't tell you how many times I have closed a refinance that everyone in the room knew was a joke.  Someone would buy a home for $150,000 and 15 months later refinance that same home for $275,000.  The only thing that changed would be an appraisal.  The bank would tell the appraiser that they needed it to come back as close to $300,000 as possible and like magic it would.

Part of the blame is also on the individual borrowers.  Two people get married and then believe an agent when they tell them that they can afford a home based on their joint income.  After all, everybody does it this way....  They then buy a house for the low low price of $425,000 and spend one of their incomes to pay their mortgage and power bill each month.  In keeping with what we know happens, half of these couples split.  Then neither can afford the home that they didn't need to begin with and if a quick sale isn't possible, a default is inevitable.

There were a lot of reasons for that crisis, most having something to do with greed.

I will rephrase, as you make some good points.

There were lots of reasons for the housing crisis.  But the Democrats' input was to add their foot to the gas pedal along with others rather than hit the brakes.

And I absolutely agree that the borrowers were as responsible as anyone else.  I don't think much of "predatory lending," language.  If people are adults and an adjustable rate mortgage is explained to them, they are responsible for taking it, not the bank.

[Shoney'sPonyBoy 338]

2 hours ago, AU9377 said:

I agree that we have a spending problem.  That problem isn't limited to social spending and safety net issues.  Corporate welfare and military spending are every bit as detrimental to the budget.  In theory, a tax cut isn't spending, but in reality it is when there are no corresponding cuts in spending. That increases the deficit and resulting debt.

We can't even get intelligent people to acknowledge basic facts because they are concerned that it may take money from some group that has supported their campaigns.  Health care in this country is a train wreck.  The American people get no better care than residents of the EU, U.K., Australia etc, yet we pay out the nose personally and thru our government.  The Federal govt spends per capita twice what the U.K. spends and for that we get bankruptcy and big bills, no basic preventive care and increasing costs yearly.

I agree with that as well.  

Most people do not realize that Obamacare made our health care situation worse, not better.

[AU9377 4,924]

8 hours ago, Shoney'sPonyBoy said:

I agree with that as well.  

Most people do not realize that Obamacare made our health care situation worse, not better.

We are moving toward some form of basic universal coverage.  We have that now in many ways.  We simply call it by other names.  We have to get our priorities in line with our spending.  The money is already being spent, but too many times the actual patient is the last to benefit.  We have a system that treats the physical illness, but too many times leaves the patient bankrupt and strips them of their dignity.  The problem isn't with doctor compensation or care giver compensation.  The problem is really driven by big pharma and the large group of providers that feed at the public trough of taxpayer money. Lobbyists get more and more sweetheart deals stuffed into legislation in every budget.

[1716AU 728]

Republicans have NO issue with out of control spending when they have power.  Just look at the past administration:  they spent like socialists on speed.

Republicans and Evangelicals are a great fit: Lots of lip service, blaming everyone around them, and screw anyone who gets in their way...literally

[McLoofus 35,182]

1 hour ago, 1716AU said:

Republicans have NO issue with out of control spending when they have power.  Just look at the past administration:  they spent like socialists on speed.

Republicans and Evangelicals are a great fit: Lots of lip service, blaming everyone around them, and screw anyone who gets in their way...literally

Yeah but incomprehensible defense contracts don't count. Spending is only a problem if it is intended to help lift up the disenfranchised.