For once, I would like a GOP president to clean up their own economic mess

I agree with this, one side of me wants Trump to be kicked out, to avoid further damage. However, the other side of me wants the GOP voters to learn their lesson as to what supply side economics bestows on the country. On second thought, they probably never learn that lesson anyway, because even if the recession would happen under Trump, they'd find a million excuses as to why it has nothing to do with him and his tax cuts.

That's really what the GOP reasoning is:
Economic expansion: Hail the tax cuts.
Economic contraction: Just normal business cycle.

 

The alleged gains from supply-side economics are in fact funded by debt.

 

The nation and the world cannot survive another term of trump.

 

On top of that, the main reason for the collapse in 2008 was a lack of regulation in the dark markets. Greenspan and Paulson both admitted that market discipline failed. Greenspan admitted that he doesn't even know why his [Ayn Rand Libertarian] model failed, but it did.

So supply-side economics has failed.
Ayn Rand Libertarianism [the best regulations are no regulations] nearly destroyed the global banking system.
We nearly spiraled into a 25-year global depression because of republican economic principles.

But the righties are still selling and falling for the same old smoke'n'mirrors.

Yes, markets will eventually correct themselves. But we can't always survive the corrections. That is why Bush suddenly turned liberal and bailed out the banks. He had no choice.

 

And yet tax receipts more than doubled between 1980 and 1988. So why did debt increase? Because spending More than tripled. Blaming Supply side economics for a complete failure of spending restraint on the part of the Democratically controlled house is like blaming dogs for the existence of fleas.

 

How many of those spending bills did Reagan veto? Whoops

 

False claim. Not even close



Revenues

 

REagan vetoed 78 different bills.

 

Maybe you didn’t understand my question. You tried to pass off the massive amount of deficit spending in the 80’s on democrats. I asked you which of the spending bills Reagan vetoed? If you’re stumped, the answer is zero. Reagan owns every single penny.

 

If one loves deficits and income inequality, which helped create the Great RepubliCON Recession, the Bush/RepubliCON tax cuts for the rich mainly were great.

 

As opposed to the current RepubliCONs who love to spend like crazy with one hand, and with the other hand, cut taxes for the rich in order to create a huge federal deficit.

 

As a result of the tax rate cuts the highest earners paid hugely more in tax revenue and a higher share of taxes while the middle class had theirs cut and millions at the bottom not only had their entire tax liability removed but actually made more money of the tax system.. The last Republican budget had a deficit of a measly $161B.

 

Budget Talks Stall as Democrats Seek More Government Spending

"“We are further apart because the Democrats are asking for more money than they asked for last time,” McCarthy said after the meeting. “They just want to spend more.”
https://news.yahoo.com/democratic-b...vbG8DYmYxBHBvcwM3BHZ0aWQDQjg2MDhfMQRzZWMDc3I-

Which Democrats running for President are promising to cut spending and lower the deficits?

 

proof.

 

Wait you are commenting and criticizing him on his policies and don't know what they were? Geez

President Bush Signs American Dream Downpayment Act of 2003
https://georgewbush-whitehouse.archives.gov/news/releases/2003/12/20031216-9.html

 

So? How does that refute anything I said?
Why are we likely to hit $1T in deficit spending this year? R congress budget, with R prez.

 

Why are you saying he required down payment, and the legislation that requires it, gives it to them?
And you said he required them to save.

Many people are able to afford a monthly mortgage payment, but are unable to make the down payment. So this legislation will authorize $200 million per year in down payment assistance to at least 40,000 low-income families

Your proof says he gave it to them. Increasing gov't spending to further add fuel to the fire of debt and housing boom.

 

You know we have a democratic house right? And the democrats aren't complaining about the deficit and are proposing big spending bills of their own. Obama was a big spender and always proposed huge budgets much bigger than what Congress approved. Obama never attached the idea of big deficit and in the last years of his presidency the deficit went up 100 billion per year and that was with Congress rejecting his new spending proposals. The democrats running today are different than the ones in the past and will add trillions of dollars to federal spending every year.

 

LOL, nothing even compares to what the current crop of dem candidates want.

 

1980 b

Liberal math 78=0

 

Trump wasn't in office when Fannie and Freddie fell apart...and the GOP didn't have majorities in Congress...the Dems did.

 

The lack of a downpayment all started under Bill Clinton: https://www.cnbc.com/2016/05/28/are-the-clintons-the-real-housing-crash-villains.html

"These new HUD rules lowered down payments from the traditional 20 percent to 3 percent by 1995 and zero down payments by 2000. What[s more, in the Clinton push to lower income borrowers, Fannie Mae and Freddie Mac made a common practice to virtually end credit documentation, credit ratings were disregarded and income and job history were thrown aside.......Next the Clinton Administration rules ordered the taxpayer back Fannie and Freddie to expand their quotas of risky loans from 30 percent of portfolio to 50 percent....Just to make things worse Senator Clinton and Clinton Obama voted to filibuster a Republican effort to roll back Fannie and Freddie But on top of all this, while Hillary was propping up Fannie and Freddi, she was taking contributions from their foundations."

 

I’ll take that as your concession. Reagan owns every penny of the debt.

 

What you seem to be admitting is that, "Trump did nothing to address any problems with Fannie and Frdeddie, not even during the two full years of Republican control of both houses of Congress."

They were, apparently, otherwise preoccupied, not building even a single mile of Trump's "big, beautiful wall!" that he had vowed Mexico would pay for, not immediately repealing and replacing 'ObamaCare' with Trump's "something terrific!" healthcare that "covers everybody!" at "less cost!", and not rebuilding America's crumbling infrastructure as Fake Don had vowed, while they were conscientious in bloating the national debt.

It seems as if all they really achieved in their two years of dominating the executive and legislative branches might have been pulling their thumbs out.

​

 

The problems were 2007, thru 2008 when the dems has total control of Congress and bush was in office. Regulation has been passed since the crash