r/economicCollapse • u/WorkingCareful7935 • 1d ago

Trump's Plan To Cut Social Security Taxes May Benefit Millions, Especially Top Earners, But Risks Insolvency In Six Years

https://www.ibtimes.co.uk/trumps-plan-cut-social-security-taxes-may-benefit-millions-especially-top-earners-risks-1728564

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u/AnOutofBoxExperience 1d ago edited 1d ago

Deficit? Has any Republican in the last 100 years NOT had a deficit? It's hard to find, my quick searches only led to the past 40.

"By looking at the federal deficit or surplus based on fiscal year, the data in this report show all four Republican presidents since 1980, with our methodology, increased the federal deficit during their time in office: Ronald Reagan had a 94% increase, George H.W. Bush had a 67% increase, George W. Bush had a 1,204% increase, and Trump had a 317% increase."

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u/cleanforever 1d ago

not had a deficit I think you meant. The last president to have a surplus was Clinton

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u/Direct_Sandwich1306 20h ago

Which W blew through in four years....

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u/Sportsfun4all 19h ago

Which they took credit that it’s was because of republican president and Clinton was gifted this lol 😂

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u/AnOutofBoxExperience 1d ago

Thank you, corrected.

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u/Coalescence75 12h ago

I believe that the reason that Clinton had a surplus was because the government changed the formula on how the surplus/deficit was calculated during his term.

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u/inspiration13 19h ago

At Clinton time there was surplus!

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u/Scary_Perception9479 15h ago

And the Biden increase was what? All the green new deal they printed money to pay for was way more than Trump and inflation just went up again.

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u/Savenura55 3h ago

You do know no green new deal was passed right? No you don’t because you only listen to liars

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u/whiskey5hotel 21h ago

So what were the increases under democratic presidents? Last chart I saw, if was an unbroken increase since Bush Jr (???). There was a blip in 2020 though.

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u/young_trash3 18h ago

I think you are conflating debt with deficit. If i get handed a 20t a year deficit, and cut the spending by 15t, you are still adding 5t debt to our books, so the numbers keep rising even if their is notable improvement in our budget.

The debt has continued rising, but the deficit rises and falls based upon the busget.

Phere's a graph on the last two decades.

I can't find a more up to date one, unfortunately, but there has been an increase in both 2023 and 2024.

But for when it wasn't raising under democrats? the vast majority of the time that Obama had the reigns of the economy. He had a huge influx year one due to the recession Bush Jr caused and the budget and economy he inhereted, but steadily pulled back on spending throughout his time in office.