02-22-2023, 03:27 PM
(02-22-2023, 03:14 AM)basballguy Wrote: You’re new around here but damn man you’re so far off. If you were even half way paying attention to current events during Covid then you would know the GOP pushed back on “aid” resulting from Covid. The GOP is Who swallowed their pride to get a deal across to help Americans.
The Democratic Party is what ****** us. Ask any small business owner that no longer owns a small business due to Covid shutdowns.
So the GOP was in control of the Senate, and the executive branch, correct? Trump could have vetoed any bailout and the buck stoped with him, Correct? And, guess what? He didn't. The GOP also engaged in corporate welfare cutting the corporate tax and allowing billionaires to fly up to outer space while sticking the average American worker with a higher tax bill, and that also lead to more inflation. Yes, GOP welfare in the form of corporate tax breaks that added Billions to our deficit, thus we have another inflationary factor.
So you think the democrats were behind the $7-Trillon that was injected into the stock market to protect the investor class?
https://theintercept.com/2020/05/27/federal-reserve-corporate-debt-coronavirus/
Do you really think the Democrats were behind the Federal Reserve Chairman not raising interest rates when he knew the economy was overheating? The one time he did Trump threw an absolute fit b/c it cause the stock market to dial itself back. Trump tried every day and every way possible to fire Jermore Powell b/c one of his many obsessions was an increasing stock market and how dare he raise the interest rate to calm down inflation.
Trump allowing the top 5% to pay less % of income tax than the average blue-collar union worker, also added to inflation. Re: US deficit--President Obama added $8 trillion in 8-yrs, Trump added $8.2-Trillion in 4-years, adding the $1.5-Trillon from the fiscal year of 10/1/2020-10/1/2021 . See the table below:
[color=rgba(0, 0, 0, 0.95)]At the end of the fiscal year 2020, the debt was $26.9 trillion. Trump added $6.7 trillion to the debt between the fiscal year 2017 and fiscal year 2020, a 33.1% increase, largely due to the effects of the coronavirus pandemic, the 2020 recession, and the stock market bailout.[/color]
[color=rgba(0, 0, 0, 0.95)]In his FY 2021 budget, Trump's budget included a $966 billion deficit.17 However, the national debt actually grew by $1.5 trillion between October 1, 2020, and October 1, 2021.[/color]
- FY 2021: $1.5 trillion
- FY 2020: $4.2 trillion
- FY 2019: $1.2 trillion
- FY 2018: $1.3 trillion
