The final numbers of Trump and his GOP's four fiscal years which began 9/30/17 and ended 9/30/21 are finally in by the Office of Management and Budget and federal spending follows the past pattern of previous GOP administrations of large increases. The Office of Management and Budget and the CBO who issue the reports on the U.S. budgets call spending "outlays."
The report shows during Trump's four fiscal years federal spending (outlays) totaled $21.926 trillion, up $6.926 trillion from President Obama's last four fiscal years for a 46% increase in federal spending in just 4 short fiscal years. By contrast, federal spending in Obama's 8 fiscal years was up only 18% in his first 4 fiscal years and then up only 7% in his last 4 fiscal years for a total increase in spending of 25% in his full 8 fiscal years.
Federal budget deficits in Trump's 4 fiscal years totaled $7.666 trillion, up $5.491 trillion from Obama's last 4 fiscal years ($2.175) for a whopping increase of 252% in deficit spending. Trump's deficits were $779 billion, $984 billion, $3.131 trillion and $2.772 trillion. Trump is the only President to have a single year budget deficit over 2 and 3 Trillion dollars and like every other republican President before him since President Eisenhower, Trump left office with a larger deficit than when he took office. Trump is also the first President to pass the trillion dollar spending mark three times when he passed the 4,5 and 6 trillion dollar mark during his term in office. Note: President George W. Bush left President Obama a $1.4 trillion deficit at the end of his last fiscal year, but President Obama finished his last fiscal year in office with a deficit of $666 billion. A reduction of $734 billion.
During the past 40 years going back to the Reagan administration, the republican party has been the party of increased spending and increased deficit spending by a wide margin while the democratic party has been the more conservative on fiscal matters. The following federal spending increases (outlays) took place as follows.
Ronald Reagan Total increase for 8 fiscal years. Up 75% 50% in his first term and 25% in second term.
George W. Bush Total increase for 8 fiscal years. Up 61% 28% in his first term and 33% in second term.
Donald Trump Total increase for 4 fiscal years. Up 46%
George Herbert Walker Bush Total increase for 4 fiscal years Up 28%
Bill Clinton Total increase for 8 fiscal years. 28% 14% in first 4 fiscal years and 14% in last 4 fiscal years.
Barrack Obama Total increase for 8 fiscal years. 25% 18% in first 4 fiscal years and 7% in last 4 fiscal years.
Yet the fairy tale and misinformation and outright lies about republicans being conservative and the democrats being the big spenders, is just that, a fairy tale of the GOP propaganda and the media's being their enablers in the big lie. And Politidose commentary has been there with the facts and truths the past 12 years to set the record straight. And if you are wondering, yes, Politidose commentary called the shot on what would take place on Trump's watch even before he took office because it was all predetermined by precedent.
Understanding the past mistakes is still the key to a better future. For those who do not learn, the future will be like the failed past and that is the history of the GOP. Understanding is the key as to why the democratic party is best at governing.
This commentary written by Joe Lorio
Note: If one looks at the numbers prior to the Reagan administration of the previous 40 years the results will not be much different. All numbers taking from reports published by the Office of Management and Budget and the CBO.
No comments :
Post a Comment