The Trump Tax Cut: Even Worse Than You’ve Heard

[JohnR]

Originally Posted by Got Stripers

You got that right boss, borrow and spend until the credit runs out, then file for bankruptcy; it's the American way. The problem is who bails out the US government? Trump probably has some good financial ties to Russia and Jarad of course can work his Saudi buddies for a bailout package.

How much do you blame on Trump?

[Jim in CT]

Originally Posted by JohnR

How much do you blame on Trump?

Not all of it, some he blames on Bush.

The debt, as you have said, is critical. But Obama ran up the debt, and I don't know anyone who got anything from it. At least in this case, regular people are benefitting, as opposed to powerful congresspeople whose spouses own the companies that got hugeamounts of federal spending. I mean that's happening here too, but at least many of us got something.

[PaulS]

Originally Posted by Jim in CT

Not all of it, some he blames on Bush.

The debt, as you have said, is critical. But Obama ran up the debt, and I don't know anyone who got anything from it. At least in this case, regular people are benefitting, as opposed to powerful congresspeople whose spouses own the companies that got hugeamounts of federal spending. I mean that's happening here too, but at least many of us got something.

2 totally different economies. The Obama debt was bc we were trying to recover from the Bush recession (largest since the great depression). Trump is running up a huge deficit with low unemployment and booming economy.

The Repub. howled and complained about that debt but now are sitting on their hands afraid to say anything.

[Jim in CT]

Originally Posted by PaulS

2 totally different economies. The Obama debt was bc we were trying to recover from the Bush recession (largest since the great depression). Trump is running up a huge deficit with low unemployment and booming economy.

The Repub. howled and complained about that debt but now are sitting on their hands afraid to say anything.

"The Obama debt was bc we were trying to recover from the Bush recession "

Some of the debt was related to recession recovery, some was also because of the wars he inherited. Some of it was also because pof liberal pet projects like Obamacare (which did some great things but was expensive) and the "stimulus", which cost 750B of borrowed money, and I have no idea where any of it went, where were those shovel ready projects?

By the way, on the "Bush" recession, which party controlled both houses of Congress when it happened?

Kidding. But that recession was not Bush's fault. It was partly the GOPs fault for saying banks could also be investment houses, and partly Clintons fault for signing that (was that the repeal of Glass Segal?). Also the fault of fraud on Wall Street with fishy things like collateralized debt obligations which almost no one understands, that wasn't the fault of either party. And lastly, not something democrats like to point out, large numbers of people being stupid and buying way more house than they could ever afford. Plenty of blame all around...both parties, banks, Wall Street, and us. Not sure what Bush did.