Choices and Consequences
Choices and Consequences
198 comments
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Another thing that might have been different with a Gore win: when Bill Clinton left office, the federal government did not have a balanced budget - it had an actual budget surplus of hundreds of billions of dollars. With a continuation of that type of fiscal "conservatism", we could today have been debt-free as a nation. Instead, we have a debt of $34 fucking trillion.
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You realise that debt of the government is equal to wealth in the private sector? Being debt-free would mean that there is no central bank money in circulation. How would this help the actual economy?
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That's not how it works at all.
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Ok, then explain how it works. Where does money in circulation come from?
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Should be very clear that both parties are very equal in the growth of the debt.
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No they're not. Deficits like this are from not taxing the rich and corporations. Trump alone is like 40% of the deficit because of this.
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I would love to see what the actual contribution is for each party that controlled Congress/Presidency. While I'm sure there is spending that gets bipartisan support, I think the majority of the deficit in the last 20+ years has come from either wars initiated by Republicans and/or tax cuts (also initiated by Republicans).
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It's not that detailed, but you get the picture.
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All the spikes are from economic bailouts, well supported by both parties. That's clearly indicated in 2008 as both bush and Obama supported the bailouts.
However tax policy certainly differs.
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198 comments