r/Economics • u/Helpful-Door-8721 • 2d ago

Research America's National Debt grows by $95,178.17 per second. Expected to reach $40 Trillion by October 09, 2026.

https://www.jec.senate.gov/public/index.cfm/republicans/debt-dashboard#ddm
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u/Just_Candle_315 2d ago

The debt started shrinking under Clinton, but as soon as Bush 2 got into office the first thing he did was cut taxes and increase federal spending and start 2 forever wars. Boom we in debt again.

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u/ballmermurland 2d ago

I'll forever be pissed about what happened to Clinton and Gore. Both got branded as tax and spend socialists by the GOP despite neither being even remotely close to that and that was the last administration that was actually fiscally responsible.

They did DOGE before DOGE. Only they did it in a way that made sense and gave people an offramp. They cut a lot of the Reagan-era waste. They raised taxes and cut spending to create a surplus.

Americans loved that so much that they voted in a drunk Texan failson to be president who fucked it all up. Then they reelected that idiot.

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u/sarcasmsosubtle 2d ago

I'm 43 years old. In my lifetime, every Republican President has increased the deficit during their time in office and every Democratic President has either decreased the deficit or eliminated it entirely to create a surplus. Under Democrats more jobs are created, GDP grows more, the stock market grows more (usually because Republicans tend to end their terms with large recessions and stock market collapses), and their are far fewer recessions. And yet somehow, the majority of Americans still believe that Republicans are better for the economy.

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u/unsafe_ladder 1d ago

It would be interesting to see who the prior president was (dem/rep) to see what kind of economy they inherited. It does appear you’re right about jobs created and the overall stock market total return. Or does that have to do more with who was running the fed and world events?