actually, moniker has provided an informative link, Federal Surplus or Deficit [-] (FYFSD) | FRED | St. Louis Fed (stlouisfed.org), which says that the only president. since 1910, to have generated a budget surplus was Bill Clinton, 1996 to 2000, and that altho W had inherited Clinton's surplus in the trillions; he managed to piss it all away by his 8th month in office
Actually it doesn't run counter to my observation. Under Reagan the debt was very small, so when he ran deficits in the 100-200 Billion dollar range, it represented a much larger percentage increase in the debt than Bidens 1-2 Trillion dollar deficits. Not only does that not run counter to my "convenient rationalization," it exactly demonstrates it. The GDP is irrelevant to the issue. If the GDP was zero or the GDP was a googleplex, that has no effect on the calculation of the deficit, or the percent change in the debt caused by the deficit. The GDP is simply not a variable involved in the calculation. The only numbers needed to calculate the percent change to the debt are the current debt and the budget surplus or deficit.
roflmao monitor doubles down, digging a bigger hole for himself; reminiscent of him claiming that Irvine, w a demographic of 40+% Asian, 40+% White, 20% others) is not diverse, because Asian/White represent over 80% of the population
@Os Trigonum this donkey claimed democrats are losing rural voters cuz they're not trying yet they're pumping hundreds of billions in rural America
lol, good luck debating with someone petty enough to bring up the same things over and over again for years on end. Like a miserable and more pathetic version of @tinman's 99er schtick. Powell and the GAO has already stated that the Government is on an unsustainable fiscal path. The only officials who are denying it are infested with MMT brain rot with a poor message designed to calm their supporters down with a Bidenomics and Trump economy fueled by deficit spending only seen in recessions. MMT failed to predict the post-lockdown inflation spike after Cares I, II, and PPP. Some MMT zombies even think we should just spend more, which we did. If we pay off a trillion in interest only debt payments (which is soon as older debt with much lower interest rates roll into higher for longer rates), something will give in those next 5 years and these debates will be meaningless
i call them as it see them, as Invisible keeps on regurgitating false narratives, such as the Fed is exploding its future balance sheet the Fed is wrecking its balance sheet i'll keep on calling him out while the Bidenomists have been adherring to a "middle out / bottom up" economic growth approach, in the past 2+ year. the sources from which you had parroted had been predicting a recession to put it mildly, you have been parroting the wrong side of the argument once again, ur confused and all mixed up. Powell, the Fed chair, is responsible for monetary policies, not fiscal the Fed's dual mandate is high employment and price stability. GAO has responsibility for neither.
Sadly, the ability to calculate a percentage of something is apparently above your head, as is the knowledge of what variables are required.
https://www.investopedia.com/terms/... the metric comparing a,to pay back its debts. The debt-to-GDP ratio is the metric comparing a country's public debt to its gross domestic product (GDP). By comparing what a country owes with what it produces, the debt-to-GDP ratio reliably indicates that particular country’s ability to pay back its debts.
McDonald's unveils new $5 meal deal coming this summer, as franchise focuses on 'value https://www.usatoday.com/story/money/food/2024/06/20/mcdonalds-5-dollar-meal-deal/74156641007/ Buh duh Ba pa paaaahhh
deserves its own thread https://bbs.clutchfans.net/threads/...-new-5-value-meal-to-combat-inflation.323516/
it is beyond pathetic for you to continue playing the willful stupid card. the dizzing height of willful stupidity
since Mar 2022, the Fed has raised the discount rate (or as you have parroted, wrecking its balance sheet) 11 times, and left the discount rate unchanged 8 times.. yet, the GDP has continued to grow every quarter (ever since Biden has taken office as POTUS unemployment has been hovering around history low levels, w Biden admin creating more than 14 millions jobs inflation has continued to decline in view of this, should you not notify the sources from which your parrot that "the Fed wrecking its balance sheet" isn't a bad thing, insofar as the central bank meeting its goals/objective, which is to promote maximum employment and price stability.?
You understand of course that this has nothing to do with what you quoted, right? If you owe 100 dollars, and you run a 2 dollar deficit, your new debt is 102 dollars. If your income was 15 dollars and your expenses were 17 dollars, you added 2 dollars to your debt. If your income was 14 trillion dollars and your expenses were 14,000,000,000,002 dollars, you still added 2 dollars to your debt. In either case, the debt increased by 2 percent. If the original debt was 50 dollars and everything else remained the same, then the 2 dollar increase would be a 4 percent increase in the debt. The only information required to calculate the percent increase in the debt is the original debt and the change in the debt, because the percent increase is simply the change divided by the original (times 100 if you want to represent as a percentage instead of 0.X).
The point isn't the increase in percentage or amount or increase of whatever. The point is why adoo is talking about GDP.
