The why does not change the fact that you blatantly lied about this.
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Joe Biden's highest deficit spending in US history
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You brought up deficit. And you were embarrassingly wrong.
mark francis
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Standard and Poor's lowered the US credit rating for the 1st time in history under Obama for just such stupid misunderstanding of inviolable fiscal laws.
PamiUSA
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Right! It’s ok. I do not lie. It’s what I read and what I see. Does not make me a liar.
You said the magic word.. the “why”!
I suggest you concentrate on the “why” as of now.
Phoenix68
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"The difference now, experts say, is that it's normal – and strategic – for the nation to have a budget deficit in a bad economy, since tax revenues are lower and the government might spend more in stimulus programs and other items to get the economy moving again. But in a good economy, with low unemployment, the government has historically used the opportunity to pay down debt, creating a budget cushion for the next downturn, Collender says. "Now we have the exact opposite – when the economy seems to be strong, we're running up the deficit even higher."
Democrats, along with a wide swatch of economists, blame last year's massive tax cut, which the CBO projects will reduce revenues by $1.3 Billion over the next decade. Defenders of the tax cut argue that the move will eventually increase revenues by freeing up more money for people to invest in businesses or raise wages. But that has not happened with previous tax cuts, such as the Reagan era tax cuts, critics note."
Democrats, along with a wide swatch of economists, blame last year's massive tax cut, which the CBO projects will reduce revenues by $1.3 Billion over the next decade. Defenders of the tax cut argue that the move will eventually increase revenues by freeing up more money for people to invest in businesses or raise wages. But that has not happened with previous tax cuts, such as the Reagan era tax cuts, critics note."
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Sorry if I jumped to a conclusion. I usually stick with “mistake” rather than the accusation of lying. But when people repeat it and will not admit the mistake I then tend to switch to the accusation of a lie. Again sorry.
So you made a mistake or not?
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PamiUSA
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Does it really matter what I say at this point. We all make mistakes and so does the candidates. I verify as much as I can through legit sites. If whitehouse.gov and archives are not legit, then we know who the liars are.Sorry if I jumped to a conclusion. I usually stick with “mistake” rather than the accusation of lying. But when people repeat it and will not admit the mistake I then tend to switch to the accusation of a lie. Again sorry.
So you made a mistake or not?
Both sides have and will continue to spend “Our” money. State taxes will go up and the states that do not have taxes, they will. America is being destroyed before our eyes due to greed, power, religion and money.
Lie I do not. Wrong, I can be. But if I believe something strongly as you may as well, it cannot be a lie.
“I do not know about “at this point” but admitting mistakes is. Therapeutic thing and helps civility on a forum like this. Repeating mistakes and not admitting to them has the opposite effect. Let’s move on for now.
PamiUSA
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What are you wanting to admit a mistake on?
I think I made a mistake. Another poster said Biden deficit was the highest. Google showed that to be a lie. You asked “why” without agreeing or disagreeing that it was a mistake. and I got confused who is who and here we are.
I hope we are good now.
Phoenix68
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![forehead-slap-smiley-emoticon[1].gif](https://www.houseofpolitics.com/data/attachments/15/15681-d8fc9ec46320d589893f7a74e91f3158.jpg?hash=r6z75zir0O "forehead-slap-smiley-emoticon[1].gif")
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YOU don't get much of ANYTHING, RIGHT, DO YOU?????
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YOU don't get much of ANYTHING, RIGHT, DO YOU?????
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Boris Norris
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If course they would. He inherited the GFC but you wouldn't remember that.
It happened under GWB but you wouldn't remember that either.
mark francis
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U.S. Presidents With the Largest Budget Deficits
Here is a look at which presidents ran the largest federal budget deficits in U.S. history and why, from World War I through President Biden's administration.
U.S. Presidents With the Largest Budget Deficits
President Ronald Reagan vowed to limit the size of government when he took office in 1981 but the nation's deficit roughly doubled and topped $200 billion several times during his eight years in office.
George H.W. Bush, Reagan's successor, also presided over a record-breaking deficit of $290 billion in 1992.
The deficit reached a record $458 billion in 2008, Bush's last year in office.
Obama's Budget Deficit
The U.S. budget deficit exploded in fiscal year 2009, ultimately reaching $1.4 trillion under President George W. Bush.Notice the subtle lie. Fiscal year 2009 was during the Obama administration, contrary to the claim that it was under Bush.
The deficit reached $984 billion in 2019 under Trump and it hit more than $1 trillion in 2020 before Congress passed a $2 trillion stimulus package to fight the economic fallout from the coronavirus pandemic.4
U.S. Office of Management and Budget. "The Historical Tables,"
Notice also that although the deficit reached the $1 trillion mark late in Trump's term, that was not the reported deficit for the whole year because democrats in Congress borrowed trillions of dollars to inject into the economy, bringing the deficit down by increasing the debt, a trick politicians in the US have used for decades. What that shows is that the deficit is a deceptive number because it can easily be lowered by raising the debt, which is a far more serious threat to the US economy.
The CBO reported in November 2022 that the budget deficit for FY 2022 was nearly $1.4 trillion, down from nearly $2.8 trillion in 2021. (Biden) "The marked decline in the deficit from the previous year reflected waning spending in response to the coronavirus pandemic and increased revenues driven by higher inflation and the continued recovery of economic activity," the CBO reported.10
Congressional Budget Office. "Monthly Budget Review: Summary for Fiscal Year 2022," Page 1.
Notice also that neither Biden's nor Obama's name was mentioned in this record of high deficits, even though the highest deficits on record were under Biden and Obama. That is biased massaging of facts into political propaganda favoring democrats.
mark francis
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The US credit rating was not lowered in 2008 because of the 2008 collapse. It was not downgraded in 2009 because of the 2008 collapse. It was downgraded in 2011 under Obama because Congress raised the debt ceiling against stiff opposition from conservatives and failed to provide a rational plan for addressing the massive increase in the US debt.
2011
The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.The US credit rating was again downgraded under Biden in 2023, but that should be no shock. Democrats love to borrow, tax and spend with no plan to ever pay back the borrowed money.
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Boris Norris
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Of course they did. They opposed everything Obama did because he was black.The US credit rating was not lowered in 2008 because of the 2008 collapse. It was not downgraded in 2009 because of the 2008 collapse. It was downgraded in 2011 under Obama because Congress raised the debt ceiling against stiff opposition from conservatives and failed to provide a rational plan for addressing the massive increase in the US debt.
2011
The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
The US credit rating was again downgraded under Biden in 2023, but that should be no shock. Democrats love to borrow, tax and spend with no plan to ever pay back the borrowed money.
So did you. The money was to keep people in jobs and stimulate the economy and it worked. Keynes did it in the great depression.
If you judge a presidency by a credit rating, north Korea would suit you better.
Again, it will never be paid back. It's just IOUs and they're worth nothing.
