Trump’s legacy: $8 trillion-plus in added debt in one term

[mystery-ak]

Trump’s legacy: $8 trillion-plus in added debt in one term
by Jay Heflin, Business Editor |
 | December 31, 2020 06:30 AM

President Trump promised in the 2016 campaign to eliminate the federal debt over a two-term presidency. That pledge won't come to fruition, and, in fact, he will leave office having added massively to the debt.

“His tenure has been marked by a total disregard for any concern about mounting debt,” said Jim Capretta, a resident fellow at the American Enterprise Institute, a right-leaning think tank in Washington, D.C.

When Trump was inaugurated on Jan. 20, 2017, the total national debt was nearly $20 trillion, according to the Treasury Department. It has increased over roughly 30% since, nearly $8 trillion, to $27 trillion, as of Monday.

For comparison, President Barack Obama added roughly $9 trillion to the national debt during his eight years in office, according to the Treasury

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https://www.washingtonexaminer.com/news/trumps-legacy-added-debt-one-term

[skeeter]

There'll be no mention of Covid, nor of the epic government shutdown fights. It'll simply be 'trumps legacy' as if some other president would've been able to do it differently.

[Victoria33]

"When Trump was inaugurated on Jan. 20, 2017, the total national debt was nearly $20 trillion, according to the Treasury Department. It has increased over roughly 30% since, nearly $8 trillion, to $27 trillion, as of Monday."  Trump did that in 4 years.

For comparison, President Barack Obama added roughly $9 trillion to the national debt during his eight years in office, according to the Treasury.

Trump spends other people's money.  He also made money by charging the government when he had the SS and other government people at his golf courses and in his hotels.

He is now mad at Melania for her choices redecorating their apartment in his resort in Florida.   He will hate her forever for what she did as he always holds a grudge when he gets angry due to what someone did.

[skeeter]

"When Trump was inaugurated on Jan. 20, 2017, the total national debt was nearly $20 trillion, according to the Treasury Department. It has increased over roughly 30% since, nearly $8 trillion, to $27 trillion, as of Monday."  Trump did that in 4 years.

For comparison, President Barack Obama added roughly $9 trillion to the national debt during his eight years in office, according to the Treasury.

Trump spends other people's money.  He also made money by charging the government when he had the SS and other government people at his golf courses and in his hotels.

He is now mad at Melania for her choices redecorating their apartment in his resort in Florida.   He will hate her forever for what she did as he always holds a grudge when he gets angry due to what someone did.

The president doesn't 'spend' money. Congress spends money.

Again, no mention of Covid or the record shutdowns during budget fights over the past four years.

Tiresome.

[Wingnut]

"When Trump was inaugurated on Jan. 20, 2017, the total national debt was nearly $20 trillion, according to the Treasury Department. It has increased over roughly 30% since, nearly $8 trillion, to $27 trillion, as of Monday."  Trump did that in 4 years.

For comparison, President Barack Obama added roughly $9 trillion to the national debt during his eight years in office, according to the Treasury.

Trump spends other people's money.  He also made money by charging the government when he had the SS and other government people at his golf courses and in his hotels.

He is now mad at Melania for her choices redecorating their apartment in his resort in Florida.   He will hate her forever for what she did as he always holds a grudge when he gets angry due to what someone did.

DJT Haters gotta hate. 

[catfish1957]

DJT Haters gotta hate.

Not a DJT hater, but when does come to the control of the deficit, Mr. Trump gets a big fat "F" 

Anyone who says otherwise, see V33's highlighted comments above....   Trump $7T in 4 years vs Obama's $9T in 8. The numbers don't lie.

[catfish1957]

The president doesn't 'spend' money. Congress spends money.
 

Tiresome.

Sorry, but as leader of the party, he basically gives directional guidance on how he wants to see spending as chief executive of our government.  He also owned a pen to veto out of control spending which was visiably absent as congress was spending like drunk sailors on leave.

Yes, he is culpable.

[jmyrlefuller]

"When Trump was inaugurated on Jan. 20, 2017, the total national debt was nearly $20 trillion, according to the Treasury Department. It has increased over roughly 30% since, nearly $8 trillion, to $27 trillion, as of Monday."  Trump did that in 4 years.

For comparison, President Barack Obama added roughly $9 trillion to the national debt during his eight years in office, according to the Treasury.

For comparison, though:
—Trump had no role in government (other than the usual campaign donation/bribery) prior to being elected in 2016 and had no say in policies instituted before then. On the other hand, Obama as Senator openly supported and voted in favor of the runaway government spending that began in 2008 under George W. Bush and continued under the first two years of Obama—before sequestration and the "fiscal cliff" panic finally reined things a little bit in for a few years.
—As a percentage of the current debt, Bush, Obama and Trump are roughly on the same pace, to double the national debt every eight years. We haven't had fiscal sanity in Washington since Bill Clinton was President and Newt Gingrich and Trent Lott were running Congress—and how much of that was due to the pressure Ross Perot put on them?

This is a decades-long disaster that Trump did nothing to stop or help. The GOP's obsessions with "cut the tax rates" (without corresponding spending cuts) are why the party isn't taken seriously anymore.

[catfish1957]

For comparison, though:
—Trump had no role in government (other than the usual campaign donation/bribery) prior to being elected in 2016 and had no say in policies instituted before then. On the other hand, Obama as Senator openly supported and voted in favor of the runaway government spending that began in 2008 under George W. Bush and continued under the first two years of Obama—before sequestration and the "fiscal cliff" panic finally reined things a little bit in for a few years.
—As a percentage of the current debt, Bush, Obama and Trump are roughly on the same pace, to double the national debt every eight years. We haven't had fiscal sanity in Washington since Bill Clinton was President and Newt Gingrich and Trent Lott were running Congress—and how much of that was due to the pressure Ross Perot put on them?

This is a decades-long disaster that Trump did nothing to stop or help. The GOP's obsessions with "cut the tax rates" (without corresponding spending cuts) are why the party isn't taken seriously anymore.

Will agree 80%, but still if Trump had any sembelence of wanting government fiscal restraint, he'd welded the veto pen at every pork barreled moment.

Sorry....  this is his defict, and on his watch.

[GtHawk]

Will agree 80%, but still if Trump had any sembelence of wanting government fiscal restraint, he'd welded the veto pen at every pork barreled moment.

Sorry....  this is his defict, and on his watch.

That is what really bugged me the most, maybe the supposed representatives of the people would still have porked our future generations into the poor house but by vetoing the spending bills Trump would have made them own it, instead all he did was make him look like every other politician that only said whatever it took to get elected. On the plus side with Trump no new wars, more conservative judges though once again the USSC appears to be a huge disappointment and with Trump we, even if it was for a short time, had someone at the helm that put America and love of country at the forefront and didn't bend over for and bow to our enemies.

[Weird Tolkienish Figure]

There'll be no mention of Covid, nor of the epic government shutdown fights. It'll simply be 'trumps legacy' as if some other president would've been able to do it differently.

It's ok when we do it, huh?

[FeelNoPain]

It's ok when we do it, huh?

In January, 2017, there was the fortuitous discovery of "nuance."

[Fishrrman]

"Trump’s legacy: $8 trillion-plus in added debt in one term"

Wait until the harris-biden regime grinds into gear.
We'll probably see $8 trillion of debt FOR EACH YEAR from now on, if not more.

But not to worry.
Before too long, the communists will nationalize the banks, take over the stock exchanges, and raid the 401k's to "pay for it all"...

[skeeter]

It's ok when we do it, huh?

I'm sorry, did you say something?

[skeeter]

Sorry, but as leader of the party, he basically gives directional guidance on how he wants to see spending as chief executive of our government.  He also owned a pen to veto out of control spending which was visiably absent as congress was spending like drunk sailors on leave.

Yes, he is culpable.

Yes, as president he is culpable. Even more so is Congress. Sure, he signed the budgets in the end but I recall several shutdowns, one record setting one, while his own party was working for the other team.

Calling it 'Trump's legacy' belies ignorance of how things have worked, rightly or wrongly, in DC for decades.

[catfish1957]

Yes, as president he is culpable. Even more so is Congress.

Calling it 'Trump's legacy' belies ignorance of how things have worked, rightly or wrongly, in DC for decades.

Agree.  Fiscal sanity has been gone since the days of Gingrich and then Reagan. But again.....    If Trump had any interest in managing the debt, he would have whipped out the veto pen.  He didn't even come close, even once.  He let congress spend unabated. That's on him.

[skeeter]

Agree.  Fiscal sanity has been gone since the days of Gingrich and then Reagan. But again.....    If Trump had any interest in managing the debt, he would have whipped out the veto pen.  He didn't even come close, even once.  He let congress spend unabated. That's on him.

Walk me through how that would've worked.

[catfish1957]

Walk me through how that would've worked.

Huh?...  Congress enacts spending bills outside budgetary scope.  Trump vetos.  Senate fails to secure 2/3 vote to override.   Hell, he didn't even try to go the approach of a line item veto for that fact. 

One of my biggest hopes that being a business man, Trump would have understood the concept of the overall "bottom line"

[skeeter]

Huh?...  Congress enacts spending bills outside budgetary scope.  Trump vetos.  Senate fails to secure 2/3 vote to override.   Hell, he didn't even try to go the approach of a line item veto for that fact. 

One of my biggest hopes that being a business man, Trump would have understood the concept of the overall "bottom line"

The line item veto is 'unconstitutional'. What you are saying is you are upset he did not make use of the gesture of a veto, because the veto would've surely been overridden.

[thackney]

...Hell, he didn't even try to go the approach of a line item veto for that fact....

Presidents do not have the power of a line item veto.  It is all or none.

[catfish1957]

The line item veto is 'unconstitutional'. What you are saying is you are upset he did not make use of the gesture of a veto, because the veto would've surely been overridden.

2/3 vote would have been needed to override.  Last I saw the past 4 years, dims never got that close.

[skeeter]

2/3 vote would have been needed to override.  Last I saw the past 4 years, dims never got that close.

No the rats couldn't have gotten 2/3s. They would've needed, and would have gotten, plenty of help.

If the GOP were interested in controlling spending 'Trump's government shutdowns' would've made some progress.

[catfish1957]

No the rats couldn't have gotten 2/3s. They would've needed, and would have gotten, plenty of help.

We have RINO's. but if Trump et. al, would have made them tax and spend pariahs, that would have been short lived.  I don't think they could mustered enough votes to override personally.

I would have loved to have seen the past 4 years returned to fiscal sanity.  If Trump really saw it as a priority, I think we would have seen action supporting that position.  But again, the bottom line is his administration  out-spent Obama.  And that is saying a lot

[skeeter]

We have RINO's. but if Trump et. al, would have made them tax and spend pariahs, that would have been short lived.  I don't think they could mustered enough votes to override personally.

I would have loved to have seen the past 4 years returned to fiscal sanity.  If Trump really saw it as a priority, I think we would have seen action supporting that position.  But again, the bottom line is his administration  out-spent Obama.  And that is saying a lot

Congress spent the money, not his administration. Its the law.

[catfish1957]

Congress spent the money, not his administration. Its the law.

No fault of Trump at all huh...  Gotcha....