Representative Mick Mulvaney, a first-term Republican from South Carolina who, laughably, recently said this about the debt, the Democrats and Republican willingness to vote to raise the national debt ceiling; “It’s their debt,” he said. “Make them do it. That’s my attitude.”
He is delusional or seriously uninformed.
Currently the US National Debt is nearly $14.2 trillion.
* The growth of the gross public debt closely matched the rate of inflation where it tripled in size from $260 billion in 1950 to around $909 billion in 1980. That's 30 years.
* From 1980 - 1988, under two terms of Ronald Reagan's leadership, the total federal debt nearly tripled.
* Gross debt in nominal dollars quadrupled during the Reagan and Bush presidencies from 1980 to 1992. The net public debt quintupled in nominal terms.
* The growth of the gross public debt closely matched the rate of inflation where it tripled in size from $260 billion in 1950 to around $909 billion in 1980. That's 30 years.
* From 1980 - 1988, under two terms of Ronald Reagan's leadership, the total federal debt nearly tripled.
* Gross debt in nominal dollars quadrupled during the Reagan and Bush presidencies from 1980 to 1992. The net public debt quintupled in nominal terms.
* During the past decade when Republicans controlled the White House and Congress, unfunded tax cuts for the ultra wealthy, an unfunded Medicare prescription-drug benefit and unfunded wars in Iraq and Afghanistan
* The recession, brought on by Republican economic policies, cost more than $800 billion in lost revenues from businesses and individuals and in automatic spending for safety-net programs like unemployment compensation.
* The recession, brought on by Republican economic policies, cost more than $800 billion in lost revenues from businesses and individuals and in automatic spending for safety-net programs like unemployment compensation.
* In order to pull the nation's economy out of the nearly catastrophic state left by his predecessor, President Obama had to provide economic stimulus spending and tax cuts aimed at the middle class but included the wealthy (the Republican pound of flesh), which added about $600 billion through the fiscal year that ended Sept. 30. Money that went to keep Police on the streets, firehouses open, teachers in their classrooms, hospitals from closing. Money went toward keeping people employed and paying taxes and supporting local businesses.
All of this is in direct contrast to the (borrowed) money spent by Republicans when they were in power, who spent a great deal of it on tax cuts for the very wealthiest people and corporations in this country. All backed by the big Republican lie that such tax cuts will create jobs for the little people. Problem is, that has not and has never worked, anywhere, ever.
All of this is in direct contrast to the (borrowed) money spent by Republicans when they were in power, who spent a great deal of it on tax cuts for the very wealthiest people and corporations in this country. All backed by the big Republican lie that such tax cuts will create jobs for the little people. Problem is, that has not and has never worked, anywhere, ever.
Either Republicans are delusional or they are smart as foxes. Either they really believe the crap that they spew (and on social issues they probably do) and are in fact delusional or they are lying and they are attempting to pull off the biggest con since The Sting.
Hold on to your wallets!
Hold on to your wallets!
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