The Democrats are going to have to be the adults to start correcting this, which means raising taxes and probably being handed a slowing (or crashing) economy.
It’s going to be a mess, and because Americans are dumb as shit the Dems will get the blame for it and they’ll hand all three branches of government back to the next wave of syphilitic Koch fuccbois and Donald Trump Jr.
What’s gross is that they create the increased deficit by giving tax cuts to people who don’t need them and then turn around and use it to create a moral panic about it, for which the prescription is always to slash safety net programs.
And meanwhile they take credit for a great economy (which is only really all that great if you’ve got a high-skill job that actually pays enough to live on, or are a “donor class” person). It’s no great trick to stimulate the economy with enough deficit spending – although income tax cuts (unless taxes are way too high to begin with) are among the least efficient ways to do it.
Oh, I know, but there was this party once who liked to bring up the national debt any time a social program like healthcare or welfare was proposed. Where are they now?
I’m actually going to argue that it was during Clinton’s Presidency (in the aftermath of Ross Perot’s “great sucking sound” campaign). It was then that most Democrats actually started funding their projects, only to have the GOP vote against the taxes to pay for them. That’s definitely been the pattern at the Federal as well as the State level (part of the reason CA’s budget got so bad was unfunded mandates, whether from the legislature or initiative process). The Democrats have been the party of fiscal sanity and economic rescue for 37 years now (quite frankly, because in the wake of Reagan, they had to, and it’s carried on to (most) of the party… at least until the rise of Bernie Sanders.
The moment they lost full control of congress and the white house. That’s how it’s worked in America for 30 years. The minority party gets to be the one who cares about the debt, and the majority party gets to be the one to expand it. They take turns.
Except… that’s not quite true. The trend during Dem presidencies is declining deficits, while GOP ones is expanding deficits.
Like, yes, the debt grew during Obama’s term, but it’s not quite his fault when he inherited a deficit over a trillion dollars. Had he tried to zero it out immediately it would have made a bad situation worse.
The gobs of extra money we made thanks to tax cuts and deregulation were not enough. Gotta lay more people off says AT&T.
The tax cuts for jobs was bull and AT&T is proof positive of that. These companies will keep pushing until they have negative tax load and people are paying them to work at their company.