"The U.S. government is set to borrow nearly $1 trillion this year, nearly double last year’s amount"
"Set to borrow..." Do you think for one second that if Trump were a Democrat following a Republican, this headline would not read "Budget Deficit to Double in First Year of New Administration"?
Just for the record, after the previous Republican administration caused a gigantic increase in the budget deficit, President Obama reduced it by over two thirds, in the face of constant Republican pressure to give more government money to the rich. Now, in one year, Trump is doubling the deficit. How much of the Republican screaming that we heard over the eight years of the Obama administration do you expect to see now?
And just for the record, here are the numbers:
Budget surplus for the last fiscal year of the Clinton administration: $236 billion
Budget deficit for the last fiscal year of the Bush II administration: $1,413 billion
Budget deficit for the last fiscal year of the Obama administration: $440 billion
Estimated budget deficit for the first fiscal year of the Trump administration: About $1 trillion.
And just in case you want to go a little farther back in history:
Budget deficit for the last fiscal year of the Carter administration: $74 billion
Budget deficit for the last fiscal year of the Reagan-Bush I administration: $290 billion.
To summarize: Republican Reagan era: Budget deficit increased by 391%
Democratic Clinton era: You cannot give a percent change, because Clinton erased the deficit and left the country with a considerable surplus.
Republican Bush administration. Again, no percent change is possible, because Bush frittered away the surplus and left the country with a gigantic deficit.
Democratic Obama administration: Budget deficit reduced by 69%
Republican Trump administration: In one year, set to double the deficit, and God only knows what will happen after that when the Republican $6 trillion dollar giveaway to the rich really kicks in.
Well, there's the real story behind the decades-long Republican claims to be the fiscally responsible party, a lie which is enabled almost every day in the complicit mainstream press.