Biden touts his deficit reductions but is only off by $3.7 trillion

[Phoenix68]

Crooked politicians hide their spending excesses under the illusion that the deficit is the problem, not the debt.

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....And, as usual, it took a Dem to prove it!!
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"Not only was the entire national deficit eliminated after raising taxes on the wealthy in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down."

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[Phoenix68]

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Where Would We Be, Without Democratic Economies?????
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[mark francis]

What?

The debt is an accumulation of deficits. Bonds are issued to account for the deficits. So balance the budget for 10 straight years and we can retire most of that debt.

A balanced budget pays current bills while making payments on the debt. The US debt is now at the point where it cannot be paid off, to the dismay, no doubt, of those poor people who will suffer loss by that failure.

 

[mark francis]

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View attachment 7385
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....And, as usual, it took a Dem to prove it!!
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"Not only was the entire national deficit eliminated after raising taxes on the wealthy in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down."

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View attachment 7386
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The US deficit can be drastically lowered, as Obama proved, by plunging the US into unsustainable debt by borrowing enough money on credit to pay the deficit down.

 

[Phoenix68]

The US deficit can be drastically lowered, as Obama proved, by plunging the US into unsustainable debt by borrowing enough money on credit to pay the deficit down.

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President Obama’s policies revived the economy
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U.S. economy under Obama 2009-2017
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The Obama recovery is about to make Trump look good
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[Boris Norris]

Crooked politicians hide their spending excesses under the illusion that the deficit is the problem, not the debt. Irresponsible spenders are steering the US toward financial collapse by increasing the debt, regardless of what the irrelevant deficit is doing.

Yeah sure and they're all democrats. You're like a cracked record mark.
For Christ sake shut up with you typical unsupported claims, every day.

 

[mark francis]

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President Obama’s policies revived the economy
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U.S. economy under Obama 2009-2017
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The Obama recovery is about to make Trump look good
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View attachment 7396
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Amazing. Obama imagined could solve the debt crisis without help from Congress as long as he had a pen and a phone. However, Congress finally passed a budget after years of inaction by Obama, but none of the Democrats approved of the responsible tax and spend plan.

Congress passes first budget in 6 years - Washington Times

Congress passes first budget in 6 years

By Tom Howell Jr. - The Washington Times - Tuesday, May 5, 2015

The GOP-led Congress Tuesday passed a full budget for the first time in years, laying out a road map for domestic spending cuts so deep that Democrats dared Republicans to follow through on them, predicting a swift voter backlash.

If enacted, the cuts, combined with an improving economy, could produce a balanced budget within a decade.

The budget cleared the Senate on a 51-48 vote Tuesday afternoon, after passing in the House last week.

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No Democrats supported the plan, and Sens. Rand Paul of Kentucky and Ted Cruz of Texas were the only Republicans to vote “no.” Both are running for president.

GOP leaders said the plan, which is a non-binding outline that doesn’t require the president’s signature, sets up the rest of the 2016 spending process, and is proof that Republicans can govern now that they control both chambers on Capitol Hill.