US Records 2nd Biggest July Deficit In History As 25% Of Tax Revenue Go To Pay Interest

[Urohawk]

Receipts as a percentage of GDP are at Clinton era levels, but spending is 50% higher.

We’ve never, in any era, collected more than 20% of GDP in federal taxes (exactly twice ever).

Spending is over 24% of GDP and predicted by the Biden administration to remain there.

If you spend 120% more each year than you’ve ever earned, do you have a spending problem?

Not according to Democrats.

You make very good points about the need to cut spending. Then you prove yourself to be a total idiot with the democrat line. I don't know if you're uniformed on the truth, don't care, or are too dumb to acknowledge some other narrative. The majority of unfunded spending is done by Republicans. It doesn't copy/paste well but here is the link.

U.S. Debt by President: Dollar and Percentage

The national debt has increased under most U.S. presidents. Here is how much each president's time in office added to the U.S. debt by percentage and dollar amounts.

www.investopedia.com

Franklin D. Roosevelt	$178,464,714,660.98	791.8% 791.8% 791.8%
Woodrow Wilson	$23,036,251,492.50	789.9% 789.9% 789.9%
Ronald Reagan	$1,604,482,712,041.16	160.8% 160.8% 160.8%
George W. Bush	$4,217,261,484,712.34	72.6% 72.6% 72.6%
Barack Obama	$7,663,615,710,425.00	64.4% 64.4% 64.4%
George H. W. Bush	$1,207,189,695,334.34	42.3% 42.3% 42.3%
Richard Nixon	$121,339,561,890.14	34.3% 34.3% 34.3%
Donald Trump	$6,700,491,178,561.60	33.1% 33.1% 33.1%
Jimmy Carter	$208,861,000,000.00	29.9% 29.9% 29.9%
Bill Clinton	$1,262,689,326,747.48	28.6% 28.6% 28.6%
Theodore Roosevelt	$483,479,337.65	22.6% 22.6% 22.6%
Joe Biden	$4,738,415,474,674.48	16.7% 16.7% 16.7%

 

[TheCainer]

But he couldn’t ****ing WAIT to start spending trillions we don’t have, and the Democrats controlling the House and Senate obliged him almost immediately.

You pretending to not understand he is responsible for legislation he signed doesn’t change that he is responsible for legislation he signed.

You can’t help but try and deflect and spin.

Just sad you won’t acknowledge reality.

April 28, 2021
(CNN) President Joe Biden has moved fast since his January 20 swearing-in, signing a $1.9 trillion Covid relief bill into law less than two months into his term

Someone had to bail Trump out. He had been MIA since losing the election while plotting his coup. He went into hiding shortly thereafter.

Blame Biden if you want, but give him credit for keeping the country from tanking at that critical juncture. We had 10 million unemployed people at that time needing some assistance to stay afloat.

 

[MitchLL]

Harris/Biden has written way too many checks we can't pay.

Huh???? Let the adults discuss this one, spud.

Nikki said it was Trump!

 

[RicoSuave102954]

Huh???? Let the adults discuss this one, spud.

Nikki said it was Trump!

LOL - you do know what the interest is being paid on?

 

[seminole97]

Someone had to bail Trump out. He had been MIA since losing the election while plotting his coup. He went into hiding shortly thereafter.

Weirdest spin yet. The Democrats were proud of the spending before it resulted in the inflation, and yet you still want to give the credit for it to the guy who had been out of office for months.

Blame Biden if you want, but give him credit for keeping the country from tanking at that critical juncture. We had 10 million unemployed people at that time needing some assistance to stay afloat.

10 million unemployed by stupid lockdown policies and the Democrats response is to send money to everyone.

 

[luvmyhawks]

Actually they did in 2010, after the GOP had long before abandoned it. As you know, spending bills originate in the House, and over the past 30 years (starting after the election of 1994), the House has been under the leadership of the GOP for 22 of the last 30 years. PayGo has only been utilized by the Democratic House leadership during that time.

One can draw their own conclusions from that I guess.

​

Wait wait wait wait WAIT!! You do know who was in control of the house during Clinton’s surplus and pay as you go, correct?

 

[luvmyhawks]

When Republican politicians start grousing about the national debt, it can only mean one thing: the current POTUS is a Democrat.

Following the democrat handbook I see. Way to be a good puppet instead of actually thinking for yourself and the future of the country clown boy.