Your regular reminder that if not for the Trump and Bush tax cuts, federal revenues would keep pace with federal spending indefinitely.
Instead, these tax cuts have added $10 trillion to the debt.
The so called "party of fiscal responsibility" is full of it.
The Chinese banks funding Trumpism adore Republican administrations who jack up the national debt & then threaten to not lift the debt ceiling.
https://www.cnn.com/2024/01/04/politics/trump-properties-china-foreign-payments/index.html
https://www.vanityfair.com/news/2020/10/donald-trump-chinese-bank-account
The debt ceiling brinksmanship triggers interest rate hikes that further increase the flows of cash out to the investors buying federal bonds.
https://www.cnn.com/2023/05/25/economy/mortgage-rates-may-25/index.html
https://www.investopedia.com/how-the-debt-ceiling-impacts-interest-rates-7547143
https://money.usnews.com/investing/investing-101/articles/how-the-national-debt-affects-you
https://www.investopedia.com/articles/investing/040115/reasons-why-china-buys-us-treasury-bonds.asp
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The Chinese are reducing their exposure to American indebtedness. Ask yourself why.
https://www.globaltimes.cn/page/202404/1310833.shtml
https://abcnews.go.com/Business/stock-market-drop-debt-ceiling-begin-days-experts/story?id=99537039
GOP administrations are national security risks & add to nuclear proliferation.
https://www.nknews.org/2024/01/trump-refused-to-sanction-chinese-bank-accused-of-helping-north-korea-report/
Robert Reich
Nicole Parsons
Flowermob