Problem with PBS and NPR is that they non partisan institutions of quality journalism. They must go. The right tries the same thing here with the ABC but the situation is different the ABC is one of the most trusted organisations in the country.
Trump Dictatorship and All Things Politics
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Problem with PBS and NPR is that they non partisan institutions of quality journalism. They must go. The right tries the same thing here with the ABC but the situation is different the ABC is one of the most trusted organisations in the country.
No
But this chart shows how out of hand it has gotten, and shows we need to get it under control.
No doubt, it has gotten out of control and both parties have contributed. I was simply noting Reagan didn't start the problem (although it got worse).This chart doesn't quite go back that far, but... (High of 130.4 % in Mar 2021 and a low of 31.8 % in Sep 1974)
View attachment 18011
US Government Debt: % of GDP, 1969 – 2025 | CEIC Data
US Government debt accounted for 120.9 % of the country's Nominal GDP in Jun 2025, compared with the ratio of 122.3 % in the previous quarter.www.ceicdata.com
But this chart shows how out of hand it has gotten, and shows we need to get it under control.
1986 was the year that Regan lowered the top marginal tax rate to 28 percent. have a look at that graph again....
fishonjazz
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Damn.
I fully understand what Reagan did. The 70% tax rate in the 70s was hurting growth. Reagan's plan was to combat stagflation, and it worked in that regard, but he largely overcorrected which led to a larger deficit. And every president since has upped the debt. Hard to fully judge Trump or Biden for COVID and adjacent year spending. There was a lot of waste that both parties agreed to. PPP was a joke. My old firm had a normal year for income, but they still received $7MM in PPP funds. I have dozens of clients that took PPP money, and only one of them truly needed the money to stay afloat.
Trump, excluding COVID spending, had record spending. Biden made what Reagan did seem like pocket change. And revenue was higher than ever. It is a problem on both sides. If Trump could get us back to what Bill Clinton did it would be a miracle.
The problem is we keep adding programs and spending without revenue to support it. So yes, the needed cuts will hurt for those that rely on them, but sacrifices are needed.
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Your firm not needing those loans doesn’t mean it was a joke. Why did they apply for them then? If they weren’t needed then they paid the loan back. So no harm no foul, right? Perhaps you’re missing some key pieces of information because I’m not understanding why this program could be deemed a “joke.” Just because your firm didn’t then them doesn’t mean others didn’t.
My wife works in finance at one of the largest banks in America. Believe me, without those loans, some of the largest and most influential employers in Utah would’ve gone under (not to mention all the many smaller businesses that were desperate for this cash). From hardware manufacturing businesses in Ogden and Layton to food joints in Bountiful to essential oils in Lehi and PG, to salt lake based firms that built medical equipment for amputees, she worked with them all and they needed those loans or else they’d lay off hundreds. This was pretty common throughout the industry. These loans saved businesses throughout the country during a once in a lifetime pandemic. It wasn’t perfect but perfect isn’t the enemy of good or great. It was an extremely helpful program that saved hundreds if not thousands of businesses directly and indirectly impacting millions of people in our economy.
You really need to get out more and listen to some different voices. Like seriously, you sound like a pretty ignorant and arrogant person who’d be difficult to work with.
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Clinton did nothing, he benefitted from the same economic windfall that Australia did; the rapid industrialisation of China and the associated increases in trade revenues. You cannot get out of this debt cycle without a significant structural increase in government revenue, who is best placed to carry that burden? Austerity will not work. ,
There's good reason for conservative government to ruin the states tax base, it leads to the inevitable disintegration of the post war social contract and welfare state. The same new deal the lead to what has been referred to as the golden era of capitalism, one of the few times in history where social mobility was a real thing.
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LogGrad98
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It's actually arguable if it's a problem at all until the 80's. Many economists believe that responsible fiscal policy means reasonable use of credit to shore up necessary parts of society and government. It's the same argument about investment and paying off debt. If the debt costs more than you can make in the investment you are money ahead paying off the debt. Right now my car loans are at 3.85%. I am money ahead to put the extra $1500 we got this month to paying off the top credit card or even investing in my mutual fund account where I've been getting 15%+ rather than pay extra to the car loan. But once we passed the 1.0 mark debt to GDP ratio we started losing. Lots of economic theory around this topic.
He passed OBRA, reduced spending and raised taxes on the top 1%. No doubt we walked intona strong economy, but he implemented good economic policy.
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So I think I can see clear picture of orange Hitler plans based on last few days events and how his puppet Kellogg said that Europe will not be involved in talks with Russia about Ukraine. He wants Canada and Greenland but being in NATO makes matters complicated. He will sell Ukraine to Russia and Taiwan to China and will make sure USA leaves NATO to weaken Europe vs Russia. Without USA in NATO Russia then will hit Ukraine again to cut them off Black Sea and connect to separatists in Transnistria in Moldova and possibly hit Baltic states to connect to Kaliningrad enclave. USA in the meantime will take Greenland and Canada. N. Korea hitting and taking over S. Korea is not out if question too given how orange turd adores Kim Yong Un.
World War 3 is very very real possibility now unless remaining decent americans will do something about it. Think about it. MAGATS crying about leftism and communism yet their clown is telling now Denmark is bad, Canada is bad, Panama is bad, EU is bad, but Russia is great, China is great, N. Korea is great..... Reagan must be rolling in the grave now.
World War 3 is very very real possibility now unless remaining decent americans will do something about it. Think about it. MAGATS crying about leftism and communism yet their clown is telling now Denmark is bad, Canada is bad, Panama is bad, EU is bad, but Russia is great, China is great, N. Korea is great..... Reagan must be rolling in the grave now.
True, and I generally make purchases using the same analysis.
When we basically have run negative balances since Kennedy (other than a year under Johnson and a few under Clinton) it is hard to argue that ever increasing debt is a good policy.
It would be akin to you taking more debt than income for 50 years, continuing to borrow and arguing it is good fiscal policy. It may give you a great quality of life, but if that debt would pass to your heirs, you are doing it at their expense...
If you can borrow at rates lower than you can invest, it is not a bad proposition, but only if you have enough projected income to repay the debt.