Trump’s failed shutdown strategy produced an even worse deal

[Local5th]

Are you saying that he lied back then, Local?


Obama said the same thing about raising the debt.

Did he lie?

[wvit1001]

what did Obama say local?

[Local5th]

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America ‘s debt weakens us domestically and internationally. Leadership means that, ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”

~ Senator Barack H. Obama, March 2006.

[wvit1001]

Thing is the government is supposed to take up the slack and spend more during a recession like we had when Obama took office.   Without additional government money our economy during a recession, when private sources aren't spending and people are hurting, would end up possibly going into a depression.

Right now, when we are experiencing and economic expansion, our country should be paying down debt.   

For some reason you republicans gave up on that idea.   

[wvit1001]

As a result of these bipartisan efforts, America’s finances were in great shape by the year 2000.  We went from deficit to surplus.  America was actually on track to becoming completely debt free, and we were prepared for the retirement of the Baby Boomers.

But after Democrats and Republicans committed to fiscal discipline during the 1990s, we lost our way in the decade that followed.  We increased spending dramatically for two wars and an expensive prescription drug program -– but we didn’t pay for any of this new spending.  Instead, we made the problem worse with trillions of dollars in unpaid-for tax cuts -– tax cuts that went to every millionaire and billionaire in the country; tax cuts that will force us to borrow an average of $500 billion every year over the next decade.

To give you an idea of how much damage this caused to our nation’s checkbook, consider this:  In the last decade, if we had simply found a way to pay for the tax cuts and the prescription drug benefit, our deficit would currently be at low historical levels in the coming years.

But that’s not what happened.  And so, by the time I took office, we once again found ourselves deeply in debt and unprepared for a Baby Boom retirement that is now starting to take place.  When I took office, our projected deficit, annually, was more than $1 trillion.  On top of that, we faced a terrible financial crisis and a recession that, like most recessions, led us to temporarily borrow even more.

In this case, we took a series of emergency steps that saved millions of jobs, kept credit flowing, and provided working families extra money in their pocket.  It was absolutely the right thing to do, but these steps were expensive, and added to our deficits in the short term.

So that’s how our fiscal challenge was created.  That’s how we got here.


- Obama, April 2011

https://obamawhitehouse.archives.gov/the-press-office/2011/04/13/remarks-president-fiscal-policy

[Local5th]

If Trump was still a democrat you would be making excuses for him too wvit.

[LadyRavensWing]

tRaitor/tRump ISN'T a Democrat, Local.....

Hell, he isn't even a republican........

He's worse....

He's a traitorous, dictator/wannabe....

dismissed...,

*Ldy R.* 

[wvit1001]

I'm not making excuses local.   What are you yammering about?

[wvit1001]

how come you don't mind trump running up the national debt in times of an economic expansion local?