08-16-2019- President Obama, You own this debt and the deficit.
Now some may disagree with me. Especially those on the left. But if you are a student of the economy you will realize that when changes are made, they usually don't start right away. Why there's some who still claim that today's debt is because of President Reagan. Some on the right still blame FDR. So what's the answer?
These high deficits are mostly from the increases in past spending that was approved. Now common sense tells you that to cut taxes and increase spending makes no sense. Remember that the 2009 budget that Bush left Obama had a 400 + billion dollar deficit. Obama with the stimulus added another 800 billion. So in plain English, we are paying for that now.
In closing, will we get hurt by what Trump is doing increasing this spending? Sure will. Unless cuts are made.
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