The subject matter concerning the national debt was covered and published in Politidose commentary dated 12/6/09, almost 12 years ago. And now the results are in on the national debt concerning President Trump's four fiscal years which ended 9/30/21. The final numbers were recorded by the U.S. Treasury Department who keep the official records of the national debt which are available online.
The report shows that at the end of President Trump's last fiscal year 9/30/21 the national debt stood at $28.428 trillion. It stood at $20.244 trillion at the end of President Obama's last fiscal year ending 9/30/17. So in only FOUR short fiscal years the national debt increased $8.184 trillion on Trump and the GOP's watch. By contrast it increased $8.343 trillion during the EIGHT fiscal years on President Obama's watch. The national debt stood at $11.909 trillion when George W. Bush's last fiscal year ended on 9/30/09 and it stood at $20.244 at the end of President Obama's last fiscal year. So Trump and the GOP managed to create almost the same amount of debt in just FOUR short fiscal years that it took President Obama to create in EIGHT fiscal years. Good thing President Trump was not given a second term in office by the voters.
Not only did Trump and the GOP continue the explosion of the national debt in such a short period of time as did President George H.W. Bush did, Trump joined every republican administration's failure in the past 60 years to leave office with a smaller federal deficit then when he took office. But every democratic administration during that time period with the exception of President Carter, did leave office with a smaller federal deficit than when they took office. So the democratic party has a history of reducing deficit spending while GOP administrations do just the opposite.
In the last 40 years beginning with the Reagan administration thru the Trump administration, GOP administrations added $17.735 trillion to the national debt while democratic administrations added $9.738 trillion to the national debt. The national debt stood at $999.8 billion, less than a trillion dollars at the end of President Carter's last fiscal year ending 9/30/ 81 and stood at $2.857 trillion at the end of Reagan's last fiscal year budget that ended 9/30/89 a whopping increase of 186% in the national debt. That was the start of the devastation and betrayal of the federal governments fiscal house. And Reagan was the President who said the government had a spending problem and he was going to cut federal spending. Yeah, right!!!
Trump also left office following in the footsteps of every GOP administration in the last 100 years by having an economic recession that started on his watch. A terrible economic record by any standard. And to top it off, three of the last 4 GOP Presidents cut taxes for you know who. Does any one realize who suffers the most during an economic recession?
And to think that the news media in general report and repeat the GOP talking points of the democratic party being the big spenders and creators of debt. The media continues to report the GOP lies, misinformation and false charges without even pointing out the facts say otherwise. They are the enablers of the GOP's propaganda. And even at this writing as the GOP oppose raising the debt ceiling because of their phony charges of Biden's spending proposals, the media is silent on the fact that Trump and the GOP's spending hit record levels in fiscal 2020 when federal spending went past the 4, 5 and 6 trillion dollar spending mark. So disregard the noise coming out the news media, especially the so called conservative news media in particular. The GOP are the conservative party?????? Its the greatest fairy tale ever told. And President Trump's administration continued the fairy tale.
So stay tuned to Politidose, your daily dose of political commentary for the facts that have been written in commentary for the past 12 years.
This commentary written by Joe Lorio
