Thanks for posting this great thread, signalmankenneth,
Spot on, on every account.
Never before has there been such a massive about-face as the Republican approach to the federal debt whilst transitioning from the Obama presidency to that of Trump.
Under Obama, Republicans claimed the rising debt was going to BANKRUPT THE UNITED STATES.
Under Trump, Republicans could hardly be quieter about the debt. It is as if they are all pretending it doesn't even exist.
Trump claimed that, as president, he would wipe out the Federal Debt in just 8 years. He lied. He has given the debt no consideration or mention.
Instead, he has raised it.
And more importantly, he has raised the Debt-to-GDP ratio.
The truth is, the USA can sustain a substantial debt, as long as the economy and taxation generate enough revenue to service it. Ideally, the revenue would exceed expenditures and gradually reduce the debt. The next best situation would be if the GDP were to grow faster than the debt grows. A growing debt could be entirely sustainable and healthy for the nation if the economy and revenue grew faster.
Sadly, Trump has not managed to grow the economy as fast as the debt.
The debt/GDP ratio was 105.31% in 2016.
Now, Trump has run it up to 105.57%.
That is going the WRONG WAY.
The debt is growing faster than the economy.
And THAT is a recipe for financial disaster.
Tick tock.
