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Drudge Retort: The Other Side of the News
Monday, June 24, 2024

Former President Trump ran up the national debt by about twice as much as President Biden, according to a new analysis of their fiscal track records.

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If you exclude COVID relief spending from the tally, the numbers are $4.8 trillion for Trump and $2.2 trillion for Biden.

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More from the analysis...

... Why it matters: The winner of November's election faces a gloomy fiscal outlook, with rapidly rising debt levels at a time when interest rates are already high and demographic pressure on retirement programs is rising.

- - - Both candidates bear a share of the responsibility, as each added trillions to that tally while in office.

- - - But Trump's contribution was significantly higher, according to the fiscal watchdogs at the Committee for a Responsible Federal Budget, thanks to both tax cuts and spending deals struck in his four years in the White House.

By the numbers: Trump added $8.4 trillion in borrowing over a ten-year window, CRFB finds in a report out this morning.

- - - Biden's figure clocks in at $4.3 trillion with seven months remaining in his term.

- - - If you exclude COVID relief spending from the tally, the numbers are $4.8 trillion for Trump and $2.2 trillion for Biden. ...


#1 | Posted by LampLighter at 2024-06-24 11:48 AM | Reply | Newsworthy 1

And Trump is promising more of the same to his prosperous benefactors if he wins again. MAGA are such suckers.

#2 | Posted by Whatsleft at 2024-06-24 12:14 PM | Reply

Well... I expect to see a ton of rwingers on this thread saying that the reason Trump increased the Debt twice as much as Bide, sans Covid.... is because the Billionaires and Corporations deserved to have their tax cuts as Deficit Spending.... and that rwingers don't mind paying it all back for them because, well.... Trickle Down Economics, yeah, that's the ticket!

#3 | Posted by Corky at 2024-06-24 01:04 PM | Reply

@#3 ... Trickle Down Economics, yeah, that's the ticket! ...

Well, it doesn't look quote like the "trickle down economics" of olde nowadays.

it looks more like, ~let's make corporations and their owners more wealthy, and maybe, just maybe (but unlikely) they might spend money that may benefit the low-wage (and in some instances undocumented workers) we use in our companies.


In other words, a continuance of the transfer of the nation's wealth to the 0.1%.


#4 | Posted by LampLighter at 2024-06-24 08:06 PM | Reply

The bankruptcy-prone king of debt ran several casinos into the ground and then blamed it on his deceased executives.

www.nj.com

#5 | Posted by reinheitsgebot at 2024-06-24 08:58 PM | Reply

You forgot to factor in Faucis lockdowns that cost the country 7 trillion dollars.

#6 | Posted by THEBULL at 2024-06-24 10:20 PM | Reply

It's in there, manurebrains.

#7 | Posted by YAV at 2024-06-24 10:23 PM | Reply

@#6 ... You forgot to factor in Faucis lockdowns that cost the country 7 trillion dollars. ...

So, your current alias seems to be placing a price (albeit, an invalid price) upon the saving of human lives.

Let me ask a very specific question: what does your current alias think is an appropriate price to save a human life?

Yer up.

#8 | Posted by LampLighter at 2024-06-24 10:34 PM | Reply

Typical Democrat nonsense - they use 10 year projections rather than simply looking at the change in the national debt under each president. When Trump took office, national debt was ~19.5T, when he left it was around $28T, so an increase of $8.5T, of which about half was covid spending in additional to soaring deficits in 2020 due to the lockdowns. For Biden, he took office with ~$28B and the current debt is ~$34T and will end Biden's term at ~$35T, an increase if $7T with ~$2T in covid spending. So, net of covid, Trump was +$4.5T and Biden is +$5T - those are real numbers, not Democrat fantasies.

#9 | Posted by Claudio at 2024-06-25 12:50 AM | Reply

@#9 ... those are real numbers,...

Got links?

#10 | Posted by LampLighter at 2024-06-25 01:05 AM | Reply

"Got links?
#10 | POSTED BY LAMPLIGHTER"

Still can't figure out how to use Google, -------?

www.investopedia.com

#11 | Posted by Claudio at 2024-06-25 01:08 AM | Reply

@#9 ... they use 10 year projections rather than simply looking at the change in the national debt under each president. ...

Or, is the analysis looking at the total cost (over a 10-year period) of what each President has done?


In other words, why does, as your current alias seems to assert, the fiscal policies of a President stop when the President leaves office?

We are still suffering from fmr Pres trump's tax give-a-way to the 0.1% and corporations.

Yeah, maybe that 10-year projection is looking to be quite more accurate.


#12 | Posted by LampLighter at 2024-06-25 01:09 AM | Reply

"Or, is the analysis looking at the total cost (over a 10-year period) of what each President has done?
#12 | POSTED BY LAMPLIGHTER "

1.) because it is just guessing as Biden has been in office for 3.5 years so the future is just projection for the next 6.5 years
2.) it does not give credit for stimulative measures as that requires you to attribute the cause for economic increases between prior policy and current policy

For example, a vast, vast majority of re-shoring of jobs under Biden were due to Trump's trade policies against China but that is not how the gains will actually be counted.

#13 | Posted by Claudio at 2024-06-25 01:18 AM | Reply

@#13 ... For example, a vast, vast majority of re-shoring of jobs under Biden were due to Trump's trade policies against China ...

Got a link for that?

From what I remember, fmr Pres Trump's trade policies resulted in companies moving to other countries.

For example...

Donald Trump's trade war tariffs on China driving firms to Vietnam, ASEAN (November 2018)
www.scmp.com

... Tariff dodging strategy benefits Vietnam and other Southeast Asian countries. US consumers can expect to pay more, the only question is how much. ...


#14 | Posted by LampLighter at 2024-06-25 01:40 AM | Reply

"@#13 ... For example, a vast, vast majority of re-shoring of jobs under Biden were due to Trump's trade policies against China ...
#| POSTED BY LAMPLIGHTER"

You truly have the memory of a goldfish. We literally had this debate a month ago and I provided all the links then. Further, one would think after Biden adopted Trump's tariff policies against China EVs, even you diehard -------- would no longer be stuck on stupid over this issue.

#15 | Posted by Claudio at 2024-06-25 01:47 AM | Reply

@#15 ... We literally had this debate a month ago and I provided all the links then. ...

So, then you should be able to provide links now.


And, who is the "we" your current alias refers to?


#16 | Posted by LampLighter at 2024-06-25 01:50 AM | Reply

"So, then you should be able to provide links now.
#16 | POSTED BY LAMPLIGHTER"

You already got your ass kicked on this subject once, no reason to shove your face into your own ---- to remind you again.

#17 | Posted by Claudio at 2024-06-25 02:38 AM | Reply

@#17 ... You already got your ass kicked on this subject once ...

So, your current alias admits it has nothing to substantiate its assertions.

Not a surprise.

#18 | Posted by LampLighter at 2024-06-25 02:50 AM | Reply

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