@wildgrass saidNonono we are being practical… if not, you liberals would say that it’s going up under every Republican president or whatever you like to say. So we would read that and then we’d write back and then you’d write back and we write back but if you look at the big picture you find out how silly you are.
Youll remember how bad the debt situation is but not until a Democrat is president again.
@beardmusic saidCan you not admit that you are leaving out a lot of context? That leaves out a lot of context:
@AverageJoe1
There's no 'party problem' here as it's a joint effort, I'm not interested in blaming an individual party. On this issue they are essentially identical, namely MORE DEBT. And I'm afraid you are wrong it IS due to a political philosophy (Neo-Liberalism). As I keep saying - and you keep ignoring for some reason - this is a (relatively) recent development. I wil ...[text shortened]... rtainly isn't 'sustainable' it was started by Reagan and all of his successors have carried it on...
*The economy in the 1980s was very different from the economy of the 1800s or early 1900s. A trillion dollars today is not comparable to a trillion dollars in 1980 because of I NFLATION and the much larger size of the U.S. economy.
And Debt growth accelerated under Ronald Reagan, but it also increased under presidents of both parties, including George H. W. Bush, Bill Clinton, George W. Bush, Barack Obama, Donald Trump, and Joe Biden. It increased under these people Beard
The biggest drivers include expanding entitlement programs, defense spending, recessions, wars, tax policy, and the interest paid on the existing deb…..not simply one president’s policies.
The debt didn’t suddenly become a crissis because of one president. Over the last 45 yrs presidents and Congresses of both parties have repeatedly chosen to spend more than they collected in taxes. Add wars, recessions, entitlement growth, financial crises, the pandemic, and now massive interest payments on the debt itself, and you get the situation we’re in today.
If your point is that DC has lacked fiscal discipline for decades, I agree. If your point is that Reagan is the root cause of everything that followed, that’s far too simplistic.
Hey, Reagan, may have been a better president than Trump, so don’t make me joke about Reagan. I don’t joke about Reagan..
I think I’ll go check my portfolio. I hope you bought OKTA a couple months ago for about $109. It is up to about 150 today. I think I’ll go out for a nice dinner, I wish Stone crab were still in season!!!!!
Oops disregard about OKTA, I thought I was writing to Wildgrass there for a minute.
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@AverageJoe1
Of course what I'm saying is simplified to some extent - we have to make a point!!!
I wasn't just blaming Reagan, it's a SYSTEM (NeoLiberalism) and the problem is SYSTEMATIC. I feel that you are incorrect because you fail to notice the NOVELTY of this system. Up until 1971 the US dollar was pegged to gold!!! As practically ALL major currencies throughout history have been & as I keep saying (and you calmly -for some inexplicable reason- keep ignoring) Reagan TREBLED the debt in 8 only years - adding more than ALL his predecessors had in OVER 200!!!!!!!!!!! This is NOT 'conservative' but highly RADICAL!!!!
We are living with the consequences of these reckless actions now as the economy collapses through inflation (or too much free money if you like) 🙂
We'll just have to disagree as to the economic wisdom of this - I'm just surprised that a conservative like you agrees with all this socialism - I guess it's ok when banks and multinationals are benefitting???