this post was submitted on 11 Feb 2024
1218 points (94.2% liked)
Political Memes
5426 readers
1935 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Another thing that might have been different with a Gore win: when Bill Clinton left office, the federal government did not have a balanced budget - it had an actual budget surplus of hundreds of billions of dollars. With a continuation of that type of fiscal "conservatism", we could today have been debt-free as a nation. Instead, we have a debt of $34 fucking trillion.
You realise that debt of the government is equal to wealth in the private sector? Being debt-free would mean that there is no central bank money in circulation. How would this help the actual economy?
That's not how it works at all.
Ok, then explain how it works. Where does money in circulation come from?
Should be very clear that both parties are very equal in the growth of the debt.
No they're not. Deficits like this are from not taxing the rich and corporations. Trump alone is like 40% of the deficit because of this.
I would love to see what the actual contribution is for each party that controlled Congress/Presidency. While I'm sure there is spending that gets bipartisan support, I think the majority of the deficit in the last 20+ years has come from either wars initiated by Republicans and/or tax cuts (also initiated by Republicans).
It's not that detailed, but you get the picture.
https://www.politifact.com/factchecks/2019/jul/29/tweets/republican-presidents-democrats-contribute-deficit/
All the spikes are from economic bailouts, well supported by both parties. That's clearly indicated in 2008 as both bush and Obama supported the bailouts.
However tax policy certainly differs.