Yeah, we had a deficit, that's what you're supposed to do when times are tough. When economy is on shaky ground, like say after a global pandemic, deficit spending is the smart move.
When times are really good, economy is on sturdy ground, that's when you tighten the belt, cut spending, raise taxes a bit.
That's the part Republicans always fail us at. When times are good, they never tighten the belt. That's how you can tell they don't actually care about fiscal responsibility. Whether times are good or tough, prescription is always the same. Cut taxes, blow up the debt, and then talk a big game about how responsible they are.
Japan, China, SK basically all of Europe didn’t run at this deficit. We were running at Emerging market level deficits which obviously led to extreme inflation of assets. Why do you think buying a house on average is now 400k, literally a pipe dream for most Americans.
Your average redditor making 20 grand on a call option is nothing compared to the hundreds of billionaires who raked in BILLIONS while regular people got their purchasing power wiped out by this inflation bc they weren’t invested in equities or real estate. If anything this Biden stock market run has been a nice distraction for people to avoid thinking about how they have no control over their lives.
I don’t agree with trump on pretty much everything but Biden / congress didn’t do this country any favors. The inequality is out of wack. Why people would praise this is baffling
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u/AlarmedGibbon Mar 06 '25 edited 29d ago
Yeah, we had a deficit, that's what you're supposed to do when times are tough. When economy is on shaky ground, like say after a global pandemic, deficit spending is the smart move.
When times are really good, economy is on sturdy ground, that's when you tighten the belt, cut spending, raise taxes a bit.
That's the part Republicans always fail us at. When times are good, they never tighten the belt. That's how you can tell they don't actually care about fiscal responsibility. Whether times are good or tough, prescription is always the same. Cut taxes, blow up the debt, and then talk a big game about how responsible they are.