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Worth noting, the national debt rising to new milestones isn't that noteworthy. The rate of the debt rising (budget deficit) is currently lower than it was in 2
by spywaregorilla 4y ago
Worth noting, the national debt rising to new milestones isn't that noteworthy. The rate of the debt rising (budget deficit) is currently lower than it was in 2019, which is pretty remarkable imo.
- snarf21 4y agoAgreed and this is what is so dumb about the whole fake "debt ceiling". Laws were signed that require the spending of $XX and then the ceiling says the government can't spend more than $YY, which is a lower number. So the government is required to spend money it isn't allowed to spend. It is all nonsense and political theater. It isn't like any President can just go spend $4T on some random thing or that the FBI or FDA can do the same. Usually you only see them misappropriating funds from a different mandated budget area and spent on something else.
- leeroyjenkins11 4y agoIs that calculated in a way that takes into account that we blew out the spending in 2020 and 2021 to an insane level, and therefore the rate is lower than 2019 because 2020 and 2021 was so huge? That's like saying look at the small rate my debt is increasing because I went from adding 1000 a month to spending 100,000 a 3 months ago and I'm only adding 99,000 this month.
- spywaregorilla 4y agoNo, it's in marginal dollars. It's the budget deficit. Biden's claims of enormous budget deficit reductions are relative to the 2020/2021 highs and are thus mostly irrelevant. But it's still genuinely lower than 2019 by a bit. One could have imagined a world where the spending didn't fall back to normal yet. ymmv