Republicans Sure Like to Point Fingers
FACT: A right-leaning think tank, the Manhattan Institute for Policy Research, states that the in 2020 the Trump deficit reached $3 trillion dollars. This deficit accounted for 14.9% of the economy. [efn_note]Manhattan Institute, Brian Riedl, May 12, 2022 – Trump’s Fiscal Legacy: A Comprehensive Overview of Spending, Taxes, and Deficits[/efn_note]
Remember this when you VOTE. Make sure your fingers are pointing in the correct direction. Don’t listen to the lies of the Republican GOP.
Learn About the United States Debt
“The national debt of the United States is the total national debt owed by the federal government of the United States to Treasury security holders. The national debt at any point in time is the face value of the then-outstanding Treasury securities that have been issued by the Treasury and other federal agencies. The terms “national deficit” and “national surplus” usually refer to the federal government budget balance from year to year, not the cumulative amount of debt. In a deficit year the national debt increases as the government needs to borrow funds to finance the deficit, while in a surplus year the debt decreases as more money is received than spent, enabling the government to reduce the debt by buying back some Treasury securities.” [efn_note]Wikipedia – National debt of the United States[/efn_note]
Statistics and Facts
“The discourse around federal debt in the United States is at the forefront of political discussion. With U.S. debt surpassing 31 trillion dollars in 2023, many commentators and politicians are concerned with the country’s long running budgetary deficit. There are a number of interrelated factors contributing to these high spending levels, all of which have been exacerbated by major global events such as the wars in Iraq and Afghanistan, the 2008 financial crisis, and the COVID-19 pandemic.” [efn_note]Statista – U.S. national debt – Statistics & Facts[/efn_note]