Why is the US debt gone bonkers?

[lightbulb27]

Post Clinton, They and Congress whom writes the checks, went nuts with debt. A lot of it spent on war and military complex. Why and what can we do about it?

Listen to former President General Eisenhower whom warned us about all these bad decisions...

Look at these knuckleheads... Presidents and Congress. Does this really represent you? And so much of this $ went into the hands of a few.

Wake Up America!!

https://www.us-debt-clock.com/presidents

[goaded]

OK, so let's look at this image:

Really, the only numbers that matter are % increase or deficit/debt to GDP (indicating how it would be serviced). "Most debt added" is always going to be huge compared to 100 years ago, because back then a few Billion (with a B) was doubling the debt.

That said, Obama came into office in the middle of a depression. By his second term he'd reduced the 4-year term deficit by $2.3 trillion (it doesn't show what Bush added), but he came into office with a surplus. Trump promptly increased it by $4.3 trillion in his first term, albeit with bipartisan support for pandemic relief in his final year, which also adds to Biden's term numbers from his initial years. As a percentage, Biden's increase is relatively modest, and Trump's added something like Obama's second term numbers in less than half a term (possibly far less, the image isn't dated).

Oh, following the link: Bush added about $5 trillion, over two terms when he was handed a surplus.

[lightbulb27]

In general, it's wars and bailouts and global pandemic? I guess it help to compare USA to all other countries especially the west.
In general, we gotta stop being police man of the world and getting into conflicts.

[goaded]

The pandemic was nobody's fault (the firing of the people preparing for one and the initial reaction, however...).

Afghanistan, Iraq, and now Iran were absolutely choices by Republican presidents.

Bailouts were needed to manage recessions (which, iirc, all started under Republicans), and reducing the deficit is what Democratic presidents do between recessions, building up resources so as to be able to handle the next disaster better.

America being the world's police is not a bad thing, especially if it goes by the centuries old principle "To recognise always that the test of police efficiency is the absence of crime and disorder, and not the visible evidence of police action in dealing with them."

(Number 9 of the https://en.wikipedia.org/wiki/Peelian_Principles ).

[lightbulb27]

Agree with lot of that. You seem to see democrats with rose glasses though. Congress approved the wars and Mr. Clinton was front and center signing off on Iraq, which various republicans I know opposed. No doubt though, I put it on Bushs... of note, I did not vote for Bush for various reasons, but a democrat!

Clinton put in place the loan policies that created the 2008 mess or lead to it. Arguable and complex, but probable.

Police is fine if can afford it. We can as long as we print and inflate, but at cost to standard of living eroding. Even Biden was getting into it with Huthi's and Iran, lots of carriers and shooting in his time. But it was cheaper since not full scale. Trump went in unnecessarily trying to solve all problems, dumb.

[goaded]

WTF? "In October 2002, former US President Bill Clinton warned about the possible dangers of pre-emptive military action against Iraq."

"Only one Republican Senator, Lincoln Chafee, voted against."

en.wikipedia.org/.../Iraq_War

[lightbulb27]

a google search: Yes, Hillary Clinton voted in favor of the Iraq War in 2002, which has been a significant point of criticism throughout her political career.

And yes, the republicans that voted for it were wrong too. I'll give them credit though that they had a congressional vote vs the current illegal action.

[goaded]

You said "Mr. Clinton". Yes, lots of Democrats in the Senate got Iraq wrong. But just one Nay vote was a Republican (six in the House).

At least they had a vote and didn't have the Speaker of the House run away to delay losing one. Just like he's done again for the Epstein files 2 bill.

[exitseven]

Both partis are to blame. Everyone wants to have their own pet projects of special interests they need to take care of. With the US government it is all about getting re-elected. All this corruption adds up and the next thing we know we have a 40 trillion dollar debt.

Covid was the real show stopper.

[lightbulb27]

wars, be them shooting or bacteria a big part. yep, but in short time, it went nuts.
Strikes me as 9/11 was where it all fell apart...

[exitseven]

@lightbulb27 yes, the federal government could npt give grant money away fast enough to cities and towns to buy cameras ad other surveillance equipment.

[Effably]

Outside of the Joe Biden number being made up and this being propaganda largely enacted to attempt to counter the CRFB report that put Biden at 4.7 trillion, yes it is bonkers on both sides.

This has been less of an issue in the past since Europe, Asia etc paid for US debt and spending. It will likely become a more serious concern in years to come.

[Lliam]

Food prices skyrocketed due to covid policies. They never went back down.
And now Trump's war against Iran and his tariff policies are causing shortages and making things worse.

[lightbulb27]

That makes a lot of sense. Seems to have ignited the inflation spiral again after Biden's first time did same.
Intentional? No other way to pay that debt but inflate it...

[NathanDavis]

to be used for political gain... same as pretty much everything else

[lightbulb27]

not sure I follow

[888theGreat]

Because the people in power would rather invest in weapons than help Americans. Mostly not help children and let infrastructure decline.

[lightbulb27]

Ain't that the truth. It does support high tech jobs and power, so I see that. When there's need at lower level, the $ isn't there. Every war has been funded...

[jahaims]

Because the system is about to collapse so they are being more blatant about robbing the people

[lightbulb27]

yep... but that never goes well...

[Anonymous]

We haven't even started to build the "Arch de TRiUMPh yet". just you wait!🤣

[lightbulb27]

oh that's a good one. The biggest gate ever spanning Connecticut and Long Island reaching 1/2 way to the moon? LOL...

[msc545]

Thank Trump for this. He spends our money like it belongs to one of the people he scammed, in some ways, that's exactly who it belongs to.

[slatyb]

"They?" You mean Bush and Trump.

[Anonymous]

Ask Trump