We all remember the Wall Street Bailout that caused our National Debt to climb another $1.4T.
Then came the madcap adventures of John McCain, as he halted his campaigning for a week in a lame attempt to gain sympathy for his flagging numbers by announcing that the Recession and Housing Bubble Burst were too horrible for the American economy to bear.
Therefore, in an attempt to appear as a bipartisan maverick, he took the first plane to D.C. and rolled up his sleeves, getting to work on solving the debt crisis…by spending even MORE trillions!
The irony being, of course, that more evidence has recently come to light concerning McCain and what appears to be a nasty little Pay2Play scheme…
But new President Donald Trump has managed to turn the unrestrained spending of the federal government into the unrestrained cutting of federal debt to the tune of nearly $13B!
On January 20th, the day of the Trump Inauguration, the US Debt stood at $19,947 billion. On February 21st, a month later, the US Debt load stood at $19,935 billion. So the debt definitely dropped. But it has been see-sawing back and forth. Without last year’s numbers, it is hard to tell if that is a trend or not at this point.
If you look at President Obama’s first month in office, there is a stark difference here. The US debt burden went up by more than $200 billion in his first month in office. Obama increased the debt by 2% right out the gate and then he signed a trillion dollar ‘Stimulus’ bill.
It was an abject failure and did not kick in until later during Obama’s first year. That year ended with a deficit of $1.4 trillion. Obama doubled the US debt and actually accrued more debt than all presidents before him combined. Trump has done wonders in comparison with that horrific legacy.
STORY CONTINUES BELOW…
In other words, by this same time in Obama’s first year, 2009, he had accumulated over $200B in debt.
Well, we all know our previous leader loved to waste taxpayer money like a drunken yuppie on a spending spree.
Trump, on the other hand, will prove to be one of the most prolific job-creating, debt-cutting, business-building presidents of all time. His will be a Legacy worth building a Presidential Library over and that’s saying a lot.
Especially when one considers that Obama’s library will be without one important addition: a single achievement.
Source: Right Wing News