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Again a post that show how little you understand


Again a post that show how little you understand  

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Author: TheCrow   Date: 10/19/2021 11:45:11 AM  +2/-0   Show Orig. Msg (this window) Or  In New Window

"If Trumps national debt was so big, which was a 16.08% increase, that it weighted down the economy for years.  How much did Obama's national debt,  increase of 74%, weigh down our economy?"


What was Trump's campaign promise? To pay the national debt off within 8 years. Confirm that you know Trump was elected after Obama and his administrations' increase in the national debt? Instead, Trump increased it by 16.08%. You can't fault Obama, a Democrat, for one thing and credit Trump, nominally a Republican and a conservative, for doing the same thing- increasing the national debt.


 


"Hey! The US credit rating is determined by the governments ability to pay its debt,  then could you explain why the World Bank raised the US back up to the highest credit rating, once Trump economics policies of tax cuts took place?"


You assume that I must credit the World Bank's decision as rational.


 


"Could you explain, how did the government's revenue reach an all time record with Trumps tax cuts in place?"


I am a conservative Republican, so that's an easy question: A high tide lifts all boats as does a nominal rate cut. More money to spend means more demand for business development.


This must be carefully balanced against spending required to fill actual national needs. That is the issue- Trump's cuts in healthcare came back to bite him in the 2020 election- his response to the novel coronavirus is a justifiable argument against reelection. And cost hundreds of thousands of American lives, initiated a sharp economic contraction.


Note the contraction in revenue, excepting social security as the Covid Recession affected the economy:


 
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