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re: USA national debt as a percent of GDP
Posted on 5/22/20 at 3:03 pm to BestBanker
Posted on 5/22/20 at 3:03 pm to BestBanker
quote:
That 08-16 bump looks monumental. Needs a statue.
Quantitative easing
Thanks Obama
Government is printing money overtime and holding the interest rate near zero. It’s responsible for the continued stock market rise and is a massive bubble. No one here wants to hear that.
This post was edited on 5/22/20 at 3:05 pm
0
Posted on 5/22/20 at 3:03 pm to hubertcumberdale
quote:
Did Obama crash the economy ?
Most of the policies that created the housing crisis happened under Bill Clinton.
Posted on 5/22/20 at 3:03 pm to hubertcumberdale
Reganomics doing work
Posted on 5/22/20 at 3:04 pm to LSUAlum2001
quote:
Posted shitty economic numbers over his entire 8 years, all the while blaming Bush's presidency until he left office, only to claim that Trump's economy is his.
Oh.. and downvoting an Oweo post.
Okay, what about 81-96? And what about where it is headed now?
Posted on 5/22/20 at 3:06 pm to LSUAlum2001
quote:
Posted shitty economic numbers over his entire 8 years
I guess if you want to cherry pick specific economic measures. GDP grew from 2010-2016 during his term though.
Posted on 5/22/20 at 3:07 pm to Cosmo
Obama? This is all on Trump. U guys are so thrilled with his tax cut u fail to see the rise in costs of goods sold and what the debt will do to your kids. Trump is the king of bankruptcy and king of screwing debtors/contractors....as long as trump temporarily can pull the wool over your eyes he is happy.
Posted on 5/22/20 at 3:07 pm to hubertcumberdale
Japan #1
Posted on 5/22/20 at 3:08 pm to The Spleen
quote:
First big bailout bill.
Signed by Bush.
People tend to forget this, but Bush approved TARP..$700 Billion dollars to bail out the banks.
Posted on 5/22/20 at 3:09 pm to AlceeFortier
quote:
U guys are so thrilled with his tax cut u fail to see the rise in costs of goods sold and what the debt will do to your kids.
Federal tax collections broke records after the tax cuts.
ETA - federal tax revenue by year
FY 2021 $3.86 (estimated)
FY 2020 $3.71 trillion (estimated)
FY 2019 $3.46 trillion (actual)
FY 2018 $3.33 trillion
FY 2017 $3.32 trillion
FY 2016 $3.27 trillion
FY 2015 $3.25 trillion
FY 2014 $3.02 trillion
FY 2013 $2.77 trillion
FY 2012 $2.45 trillion
FY 2011 $2.30 trillion
FY 2010 $2.16 trillion
FY 2009 $2.10 trillion
FY 2008 $2.52 trillion
This post was edited on 5/22/20 at 3:11 pm
Posted on 5/22/20 at 3:10 pm to UltimaParadox
You guys are like women pointing fingers trying to pin this on a political party. The Treasury and Fed are run by the same bankers, lawyers and investors on Wall Street. It's party of the bureaucracy that is not bound by party. All of these actions from Congress and those agency's get pushed through with no resistance.
Posted on 5/22/20 at 3:11 pm to OweO
Been trending upward since 81. The 96 downturn was due to dot com boom then we continued on business as normal with the dot com bubble. Now what happened in the 80s that could have started this mess.
Posted on 5/22/20 at 3:20 pm to fallguy_1978
Income taxes will never exceed 20% of GDP no matter what the rates are. In fact, people who bitch about the tax cut aren't to be taken seriously because the rise in income taxes wouldn't have happened without the tax cuts in the first place lol they think higher rates would have raised more money which has never been true since WWII.
The issue is pegging rates at 0% for 12 years, QE and the malinvestment that ensued blowing up because he the virus. The needle popped the bubble and now all debt must be monetized, so overleveraged institutions can roll their debt. Rinse, repeat.
The issue is pegging rates at 0% for 12 years, QE and the malinvestment that ensued blowing up because he the virus. The needle popped the bubble and now all debt must be monetized, so overleveraged institutions can roll their debt. Rinse, repeat.
Posted on 5/22/20 at 3:28 pm to wutangfinancial
quote:
The issue is pegging rates at 0% for 12 years, QE and the malinvestment that ensued blowing up because he the virus. The needle popped the bubble and now all debt must be monetized, so overleveraged institutions can roll their debt. Rinse, repeat.
Nailed it. So what’s the end game?
Posted on 5/22/20 at 3:33 pm to fallguy_1978
quote:
Federal tax collections broke records after the tax cuts
The break records almost every year with or without a tax cut
Posted on 5/22/20 at 3:34 pm to WaWaWeeWa
Notice how Jerome Powell gets in good knees and begs for fiscal action? That's because they have to keep going. So next credit event they'll just dig deeper and move on to stocks and ETFs. They're begging for more money to monetize from the Treasury using bonds to fund public spending. One problem is the easing isn't effective relative to other countries so we have to go massive to have a strong enough relative affect across all currencies. If The rest of the world can't get relief from a weaker dollar everybody's f$-#ed lol
Posted on 5/22/20 at 3:35 pm to Powerman
Only because of economic growth increasing. We were in a manufacturing recession in 2016. Without the tax cuts, we don't have higher federal receipts.
Posted on 5/22/20 at 3:38 pm to TT9
quote:He brought it from the 60s to over 100%.
Thanks obama
That isn’t up for debate here.
Trump brought it to 118%, but he didn’t cause that first jump.
Posted on 5/22/20 at 3:39 pm to Scruffy
Trump spends just like Obama. 
Posted on 5/22/20 at 3:40 pm to OweO
quote:People also forget 100% of it was paid back, with interest.
People tend to forget this, but Bush approved TARP..$700 Billion dollars to bail out the banks.
Posted on 5/22/20 at 3:40 pm to Scruffy
quote:
He brought it from the 60s to over 100%. That isn’t up for debate here.
He did not create the economic collapse though, so how can you blame him? It is very debatable actually
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