Politically Speaking – February 13, 2018
A topic that I am frequently asked about is what can be done about the national debt. Before Trump was elected, it seemed to be a hot topic, but since the election, it’s not talked about as much. It’s not that it’s been forgotten about, it’s just that it is a problem that won’t be solved overnight. A much more interesting question is how did we get here?
I’m going to do my best to answer this question as professionally as possible. Many liberals have said that it was only talked about “loudly and often” before the election because they saw it as empty campaign rhetoric. That is not true. It is talked about, but just not covered by the liberal media networks — like CNN, MSNBC, ABC, NBC, The Washington Post, etc. — who are too busy slamming the President. Why would they want to do real news like pointing out the great things he has done.
Possibly you need to change the networks you watch as well as the late night un-American shows with hosts that are not just nasty but are also totally disrespectful. In other words, it doesn’t matter what Trump does. Many of the liberals will pick it apart and continue on with a rash of fake news.
Moving on to, “How did we get here?” Too bad that question wasn’t asked of President Obama and the Democrats while it was happening. Now the national debt has skyrocketed to the point that our grandchildren will be paying on it.
When Barack Obama submitted his first budget in 2009 the national debt was $11.9 trillion. When he left office eight years later it was $19.6 trillion. The national debt almost doubled. What a mess to inherit!
When Trump submitted his first budget this January the national debt was $20.3 trillion. Keep in mind that for the first year he or she is in office a new President and Congress are living under the budget set by the previous President and Congress, and for Donald Trump that would be Barack H. Obama’s budget. The end of the second year will fall under Trump’s budget, and that budget was passed last week after a brief shutdown. That could be the other reason the media doesn’t talk about it. Obama is still responsible for the national debt. Hopefully that answers the questions.
However, there is more to this. Obama would have inherited some of the cost of Katrina as well as the war on terror. Then he came in with his stimulus act, giving $400 billion to businesses (some after going bankrupt). So he inherited some, but he also spent a lot.
The fact still remains that under Barack Obama the national debt grew the most dollar-wise. He added $7.9 trillion, a 68% increase, in just seven years. Under George W. Bush, $5.9 trillion, the second greatest amount, was added. The time to look at the national debt under Trump will be November 2019. So to accuse Trump of being responsible for national debt now is somewhat premature.
So in closing, let me say the national debt is more than $20 trillion. It exceeded that amount on September 8, 2017. It’s greater than the economic output of the entire country. It occurred despite congressional attempts to cut government spending. These included threats to not raise the debt ceiling and the U.S. debt crisis in 2011. That’s when the U.S. headed toward a debt default. It continued with the fiscal crisis in 2012 and a government shutdown in 2013.
Until next time.