Quote:
Originally Posted by Luciom
No the deficits in 2022 and 2023 aren't smaller than in 2017, 18, 19 (the non covid years)
No the deficit as a % of gdp isn't smaller.
No there wasn't no crisis, the vaccine was already available and everything could be reopened in full . The inflation problem was caused by the USA
Ukraine help was decided by congress and was 0.3% of american gdp
What planet you living on ?
2021 covid was still a thing worldwide with big expenses.
Debt to gdp went down 2021+
https://fred.stlouisfed.org/series/GFDEGDQ188S
the economy kept growing under Biden massively .
https://fred.stlouisfed.org/series/GDP
What does that mean ?
What’s worst :
Borrowing 20K on 100k assets (trump)
Borrowing 25k on 150k assets (Biden)
So yeah the nominal deficit grew under Biden but ffs ….
9% inflation with 5% interest rates don’t you think spending will go up ?
And even so with those massive increase in spending due to worldwide inflation Biden is near % deficit to gdp near trump 2019!!!!
https://fred.stlouisfed.org/series/FYFSGDA188S
Has interest rates inflation go down more and more , deficit is decreasing to gdp despite having a worst worldwide situation with many conflicts , slower economy .
Here what really happening .
Trump January 16 to dec 2020 :19t to 27.7 trillions
Biden January 21 to aug 24 : 27.7t to 35.3t ( I will give u 36t to dec 2024 !)
https://tradingeconomics.com/united-...overnment-debt
Trump debt increase 8.7 trillions (31.4%)
Biden debt increase 8.3 trillions (23%) .
Can’t imagine what the total of spending would of been under trump with such massive inflation and interest rates Biden had to deal with …
Let me guess … ah yes trump did 7 bankruptcies personally and was yelling at Powell to lower interest rates even more during his presidency to spend even more lol ….
Case in point ?
Trump did massive spending and borrowing with :
Record low unemployment
Low inflation
Low interest rates
No recession
Not much worldwide conflict
And from trump own words : « during greatest U.S. economy ever »
Until early 2020
It just made no sense at all ….
Last edited by Montrealcorp; Today at 05:13 PM.