Re:The U.S. government is set to borrow nearly $1 trillion t...
by DSMan195276 on Saturday February 03, 2018 @11:36PM
(#16301365)
That's extremely misleading. For one, that includes interest accrued on the already existing debt. For two, that doesn't take into account that when Obama became president we were in a major recession, and combating that was why the deficit ballooned the first few years of his presidency. We're not in a major recession anymore.
For three, the deficit (which is approximately the $1 trillion number being talked about here) for 2017 when Obama left was $666 billion. He averaged around a 1 trillion deficit [0]. The Republican's have increased it from $666 billion (And the even lower projected value) to the $1 trillion talked about here.
For three, the deficit (which is approximately the $1 trillion number being talked about here) for 2017 when Obama left was $666 billion. He averaged around a 1 trillion deficit [0]. The Republican's have increased it from $666 billion (And the even lower projected value) to the $1 trillion talked about here.
[0] https://www.usgovernmentspending.com/federal_deficit_chart.h...