Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Igel

(37,614 posts)
28. Obama was right when he said that during recessions, sure, deficit spending.
Sat May 2, 2026, 06:14 PM
May 2

But once the recession's over, you should pay down the debt. That was meant as a reproof to Bush 2, but it's not like it's something he managed to pull off. (It's hard to reduce the deficit. You either have to stop giving people an income stream or benefit they've come to think they're entitled to or you have to take away a possession or income in some way earned from people. I mean, even the interest on my T-bills is something I've 'earned' by simply not spending the money that I could put into T-bills--think of it as 'deferred gratification', because I know I could find something to do with those few thousands of dollars that would be more fun than navigating Treasury Direct.)

That link that you (and Bayard) posted, doesn't show him doing that. Nor does it show that the deficit got smaller under Clinton than Bush 1, Obama than Bush 2, and Biden than Trump 1.0. In fact, the deficit increased more., but I can't tell if they're in constant dollars or inflated dollars.)

Although it must be granted that under Trump 1.0 and early Biden it was COVID spending driving the debt--and that had people tried to reduce the deficit there'd have been hell to pay. (I mean, even as Trump was heading for the exit we manage to foist a half-trillion "mail everybody another check" measure on him with the threat of a government shut down if the (R) didn't accede to the measure and Trump didn't agree to sign it. But I'm not sure when that money actually was debited, whether in the few weeks left of Trump 1.0 or the first few months of Biden.)

Recommendations

0 members have recommended this reply (displayed in chronological order):

US debt exceeds 100 percent of GDP [View all] BumRushDaShow May 1 OP
More proof of Republican incompetency. cstanleytech May 1 #1
More proof of Republican hypocrisy. Wednesdays May 1 #16
More proof of the GQP's greed...... Lovie777 May 2 #26
K&R BlueWavePsych May 1 #2
Just take out a 500 year mortgage. twodogsbarking May 1 #3
See, we need that ballroom to save the economy. twodogsbarking May 1 #4
And this will be why durablend May 1 #5
Which is why every single one of them needs to be pointed out. OldBaldy1701E May 1 #9
The very definition of bankrupt. n/t Hugin May 1 #6
Just wait until the tax cuts trickle down IronLionZion May 1 #7
You know what would solve this problem? Another tax cut for billionaires and corporations Ray Bruns May 1 #8
It's curious we don't hear the GOP talking about the debt right now. SamuelAdams May 1 #10
Not true, the national debt passed 100% of GDP in 2012, and is now at about 122.8% of GDP progree May 1 #11
"Debt held by the public" is what would be used for international comparisons muriel_volestrangler May 1 #15
At the bottom of post 11 above, I found out how to find current-dollar GDP IN DOLLARS, with the help of their webmail progree May 1 #22
An interesting chart Bayard May 1 #12
The Republicans are breaking the United States for Putin. travelingthrulife May 1 #13
Where I grew up they would say "we're fucked". twodogsbarking May 1 #14
Save a prayer for the rich and craven Torchlight May 1 #17
If I remember correctly, the debt is close to the amount stashed over seas by the super wealthy. LT Barclay May 1 #18
Shocker! BaronChocula May 1 #19
Time to end the myth of Republicans being fiscal conservatives Yo_Mama_Been_Loggin May 1 #20
MaddowBlog-National debt crosses a historic threshold, exposing absurdity of Trump campaign promises LetMyPeopleVote May 1 #21
Except that GDP was 31.4225 Trillion$ in Q4 2025, and 31.8563 Trillion$ in Q1 2026 progree May 1 #23
Obama was right when he said that during recessions, sure, deficit spending. Igel May 2 #28
Maddow Blog is written by Steve Benen, not Rachel Maddow. Wiz Imp May 2 #30
... BumRushDaShow May 1 #24
The Ballroom Republicans are bankrupting this nation City Lights May 2 #25
It took Trump only 15 months to bankrupt America. CousinIT May 2 #27
Another bankruptcy coming under Trump only this time it's an entire country.- LetMyPeopleVote May 2 #29
For this thread LetMyPeopleVote May 3 #31
Latest Discussions»Latest Breaking News»US debt exceeds 100 perce...»Reply #28