The Truth About The Federal Deficit and Those Who Lie About It

**simplesimon** · 07-18-2024, 05:42 PM

https://fred.stlouisfed.org/series/FYFSD

The only time in the history of the US we had a small deficit was during world wars 1 and 2. Things start taking a turn for the worse when Nixon abandoned the gold standard. Reagan and Bush 1 increased it because the huge tax cuts to the wealthy, until under Democrat Bill Clinton 2 terms. He is the only president in history to leave office with a high surplus. Then the son of Bush ole WB spent it all up and left the country in its worst state financially. Obama came in and decreased the deficit somewhat. Trump came in and the deficit never decreased (covid was to blame for some of that though). Biden gets in and decreases the horrible covid deficit. The breakout of the Ukraine-Russia war made it dip somewhat in beginning in 2022. Democratic Presidents have always seem to clean up the mess of deficit spending by republicans on tax cuts and wars.I will explain it in simpler terms: compare the federal government to a bank. You borrow money for tax cuts. You take the borrowed money and invest it in the stock market and make yourself super rich. The problem is YOU NEVER PAID BACK THE MONEY YOU BORROWED FROM THE TAXPAYERS TREASURY TO BUY THE STOCKS. THAT IS WHAT THE PROBLEM IS!! JUST LOOK AT MY SIGNATURE. THAT IS EXACTLY HOW CORPORATIONS TREAT YOUR GOVERNMENT TREASURY TOO!

**Willbacker** · 07-20-2024, 02:50 PM

Be really helpful if you'd have stated who controlled the House during the better deficit years aka who controlled the pursestrings. This is massively important!!!

Under Reagan Dems controlled the House.
Under Bush's last 2 years when the deficit jumped Dems controlled the House.
Under Clinton's last 6 years when the surplus occured Republicans controlled the house.
Under Obama's last 6 years Republicans controlled the House.
During Trump's last 2 years Dems controlled the House when Covid occured

So as Snopes would do. This thread rating= FALSE

**simplesimon** · 07-20-2024, 03:18 PM

Originally Posted by Willbacker

Be really helpful if you'd have stated who controlled the House during the better deficit years aka who controlled the pursestrings. This is massively important!!!

Under Reagan Dems controlled the House.
Under Bush's last 2 years when the deficit jumped Dems controlled the House.
Under Clinton's last 6 years when the surplus occured Republicans controlled the house.
Under Obama's last 6 years Republicans controlled the House.
During Trump's last 2 years Dems controlled the House when Covid occured

So as Snopes would do. This thread rating= FALSE

According to many the economy is bad under a republican controlled house, who write legislation. The rich are sure doing well though. I mean can't they contribute just a little bit of their big earnings to cutting the deficit. Yeah, if hell freezes over first!

**Willbacker** · 07-21-2024, 01:48 PM

Originally Posted by simplesimon

According to many the economy is bad under a republican controlled house, who write legislation. The rich are sure doing well though. I mean can't they contribute just a little bit of their big earnings to cutting the deficit. Yeah, if hell freezes over first!

I just showed you different didn't I?

It was also pretty disingenous to chortle about Biden lowering the deficit after Covid. If you compare the deficits for the 1st 3yrs of each presidency Trump's was way lower than Biden's. Enact the Fair Tax federally and leave stuff like subsidies to the State.