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  1. #1
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    Default National debt hits historic $20 trillion mark

    https://www.cbsnews.com/news/nationa...trillion-mark/



    "The U.S. national debt reached $20 trillion for the first time ever last Friday after President Trump signed a bipartisan bill temporarily raising the nation's debt limit for three months.

    While at Camp David, Trump, with the stroke of his presidential pen, increased the statutory debt last Friday by approximately $318 billion, according to the Treasury Department.

    The $318 billion increase raised the U.S. national debt to $20.16 trillion by Friday. Since Trump's inauguration, the debt has increased about $215 billion from around $19.94 trillion."


    Wasn't one of the Trump's campaign promises to decrease or wipe out the national debt? Or is the debt not important anymore?

    Now, with increased military spending and decreased income tax on higher earners it's gonna be hard to do that. They'll have to massively increase taxes on you guys or pretty much stop other programs. Maybe all of them?

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  3. #46
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    Quote Originally Posted by WildRose View Post
    That isn't remotely true. What happened to revenues under Reagan?

    What happened to the promised 2 dollars in spending cuts for every new dollar of Revenues that Democrats made in the budget deal?

    Republicans, conservatives in particular were mad as hell.

    Reagan didn't triple the debt, the lying assed democrats who refused to honor their bargain did.
    How much money got spent in appropriation bills that weren't signed by Reagan?

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  6. #47
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    Default

    Quote Originally Posted by WildRose View Post
    That isn't remotely true. What happened to revenues under Reagan?

    What happened to the promised 2 dollars in spending cuts for every new dollar of Revenues that Democrats made in the budget deal?

    Republicans, conservatives in particular were mad as hell.

    Reagan didn't triple the debt, the lying assed democrats who refused to honor their bargain did.
    Revenues went up AFTER reagan signed into law the largest tax INCREASE in american history.

    And if he was so mad at the democrats why didn't he veto the spending bills?

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  9. #48
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    Quote Originally Posted by WildRose View Post
    That isn't remotely true. What happened to revenues under Reagan?

    What happened to the promised 2 dollars in spending cuts for every new dollar of Revenues that Democrats made in the budget deal?

    Republicans, conservatives in particular were mad as hell.

    Reagan didn't triple the debt, the lying assed democrats who refused to honor their bargain did.
    That is a myth that has long been debunked.

    - There never was a 3-to-1 promise (it was supposedly 3-to-1, not 2-to-1). That was somethng Ed Meese told Reagan to placate him, and Reagan believed it.
    - Robert Dole was a driving force behind the tax increSe and the agreement was made in the GOP-controlled Senate
    - Much of the supposed "cuts" (not actually cuts, but spending increase reductions) were out of the control of congress (interest on the debt, "management savings").
    - Reagan's own cabinet did not agree with some of the cuts (Caspar Weinberger refused to comply with the agreement regarding military spending reductions)

    David Stockman, Reagan's budget director, in his memoir, “The Triumph of Politics,” blames the late Rep. Jack Kemp (R-N.Y.) — later Robert Dole’s vice presidential running mate — for convincing Reagan that he had been “hornswoggled” by Congress. By Stockman’s accounting, Congress did reasonably well in meeting the terms of the deal, but the administration failed to live up to its end of the bargain. “Reagan did get tricked — mainly by Weinberger and his own Cabinet,” Stockman said this week.



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  11. #49
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    Quote Originally Posted by WildRose View Post
    That isn't remotely true. What happened to revenues under Reagan?

    What happened to the promised 2 dollars in spending cuts for every new dollar of Revenues that Democrats made in the budget deal?

    Republicans, conservatives in particular were mad as hell.

    Reagan didn't triple the debt, the lying assed democrats who refused to honor their bargain did.
    Reagan's proposed budget wasn't substantively different in dollars than the Dems.

    And you are evading responsibility. Did the debt practically triple under Reagan? You seem to be of the opinion that he bears no responsibility whatsoever.

    And Bush doubling the debt?
    The point is, you can never be too greedy.

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