Socrates X 2 years ago

Americans Are 'More & More Dependent' On Big Govt

Things Are Never Going Back To 'Normal'

When it comes to policy debates, it’s now pretty clear that if you’d like to sound very quaint and old-fashioned, be sure to express some concerns over the size of the federal budget and deficit spending.

Such concerns are now taken about as seriously by the average politician in Washington as is the constitutionality of the PATRIOT Act. Virtually no one cares.

Admittedly, the lack of interest in spending was already largely in place before the Covid Crisis began. During the Trump administration, reckless federal spending was the norm, and inflation-adjusted federal spending surged even past 2009’s spending, when the federal government was panicking over the financial crisis and the Great Recession. In other words, the Trump administration gave us crisis-level spending when there wasn’t even a crisis.

Not surprisingly, deficit spending was also remarkably high under Trump—pre-covid—as well. By 2019, Trump signed off on a trillion-dollar deficit, something many thought to be outlandish during a non-recessionary period before that.

But those numbers—including the numbers from the Great Recession bailout years—all look modest compared to the surge in spending that occurred with the covid panic of 2020 and 2021.

Let’s compare spending in the two periods. For example, from 2019 to 2020, federal spending rose 54 percent—from 4.5 trillion to 6.5 trillion, respectively—as Congress and the White House poured money into bailouts and stimulus. On the other hand, in the wake of the financial crisis, from 2008 to 2009, spending "only" increased 14 percent, from $3.6 trillion to $4.2 trillion.

READMORE

Watch related videos at criticalthinker.cyou

0
476
Medicare Premiums Set To Soar by a whopping 15% swallowing up that

Medicare Premiums Set To Soar by a whopping 15% swallowing up that

1629209754.jpeg
Socrates X
2 years ago
Breaking News:The end of the dollar was declared today

Breaking News:The end of the dollar was declared today

1652714821.jpg
stan smith
1 year ago
The COVID-19 pandemic was never what they claimed

The COVID-19 pandemic was never what they claimed

1652714821.jpg
stan smith
1 year ago
Ocasio-Cortez crying the blues

Ocasio-Cortez crying the blues

1652714821.jpg
stan smith
1 year ago
video

BIG PHARMA GETS CAUGHT ONCE AGAIN WITH BAIT AND SWITCH GAME

Socrates67X
stan smith
1 year ago