has grown by 18 percent this year. Next four years debt will grow by a trillion a year according to new Cbo report.
MAGA
MAGA
National Deficit
- Thread starter HerdBuckeye
- Start date
if we could only get back to the days when obama was keeping the debt static.
General Bonespurs claim the caravan is going to overwhelm the boarder is costing the US government $12 million a day.
But god damn I feel so much safer.
But god damn I feel so much safer.
If only we could go back to the days when Ronnie Raygun kept the debt static.
You know @extragreen is going to post a graph, right?
Carter got dealt a bad hand with the economy. The 79 energy crisis was like giving the other guy a flush on the river.
Still doesn’t change the premise of my question.
With that said...what President doesn’t get handed a pile of dung? Clinton inherited a recession, Bush inherited a dot com/ Nasdaq bust and recession that cost the economy trillions, obumma inherited a debt and mortgage backed deleveraging which required printing $trillions more, trump inherited 20 trillion more in debt (and a potential coming currency crisis) which is forcing a policy response.
The requirements to get out of these situations are very different. The carter admin lacked any type of response to his inherited situation. It’s what made him so inept. Hell, forcing Volcker out alone may have helped his cause.
I think Volker's tough medicine is what was needed at the time. And that was a big transition period for manufacturing, our outdated plants and such were chickens coming home to roost....but on the flip side a technology revolution was brewing. Vietnam had hurt our pride and psyche, and Watergate didn't help. It's like there was nothing to root for or hope for. The 70s was just a weird decade all around.
IMO, Volcker's response probably had more to do with the US moving off the gold standard and going full out "fiat" a few years prior. It was an effort to drive world markets into buying dollars (Treasury notes) instead of fleeing out of fear. A lot like todays monetary policy.
Unfortunately, the 70"s era didn't need a "Mr. Rogers" in the leadership role. His humbleness is to be admired. Good man.. wrong place at wrong time.
