Quote:
Originally Posted by Guest
As usual, the Fox News watchers have it wrong. Obama's policies contributed 983 billion to the debt between 2009 and 2017. This was a result of increased military spending, The Affordable care act, tax cuts and the American Recovery and Reinvestment act which was created to stimulate the economy after the 2008 financial crisis. During Obama's terms, there was less federal income than usual. The recession and the Bush tax cuts reduced tax receipts. At the same time, the cost of Social Security, Medicare, and other mandatory programs continued to increase. The War on Terror, although technically over, was still being fought in Afghanistan and Iraq, hence increase in national debt. Trump's new set of tax cuts is expected to add over $1.46 trillion to the national debt. There is no justification for this cut. Thanks to Obama, there is almost full employment. The financial crisis was dealt with. This is a simple case of giving money to the wealthy, and increasing the national debt even more.
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So "Obama's policies" added ONLY ......... So, he did not mean it when he said the buck stops in the oval office? It was ALL congresses fault? OK, so Obama was just as inept and impotent as I have stated for the past 8 years.
Addressing the tax cuts and the estimate of adding 1.5 trillion to the national debt, you do know that is calculating a never increasing average GDP growth of about 1.5%, right? The CBO can only calculate based on known figures. The truth is that if the GDP growth averages 3%, there will be a surplus. So far, there has been a three month GDP growth of 3%.