Where are the fiscal conservatives
To The Editor:
What has happened to the fiscal conservatives that used to care about the deficit? When Barack Obama became president he inherited an economy in a free fall.
He spent $78 billion to bail out U.S. automakers to save 1.2 million jobs and was labeled a socialist. In 2009, the deficit increased to $1.4 trillion and there was outrage and screaming about fiscal conservatism. By the time he left office, the deficit had shrunk to $438 billion.
In 2016 Donald Trump won the Electoral College vote and became president. He promised to balance the budget in four years. Instead we got the biggest tax cut in history benefiting the wealthy and corporations.
We were told that the tax cut would allow corporations to make more money and that would increase jobs and fill the tax coffers. Instead, using loopholes, corporations cut their tax rate to an average of 11%, and instead of creating jobs, more than half of the tax relief was used to buy back corporate stocks.
By the end of 2019, the deficit had ballooned to $984 billion and growing. Now we are told our Medicare and Social Security are on the chopping block to pay for this tax giveaway for the rich.
As for jobs growth, Obama cut unemployment by 53% (he started with higher unemployment) and Trump cut unemployment by 26%. During Obama’s last 31 months versus Trump’s first 31 months, Obama created 1.5 million more jobs. Let’s hear from those fiscal hawks that used to squawk so loudly.
Where are you now?
Sincerely,
Deborah A. Smith
Palmerton
Comments
The $840 Billion stimulus was wasted. The shovels were ready to channel that money to his friends.
Trump won the election.
Not sure I ever heard the president mention cuts to Social Security or Medicare, but I know I heard his opponents talk about it. You hear enough people in the media saying things, and before you know it, you believe them as facts.
Trump did say (Davos) entitlement spending is “the easiest of all things” to make cuts to. The media spun that on you, which is a shame. Our economy is kicking butt, and so the entitlement spending on housing, welfare, and food stamps will certainly be scrutinized. The word accountability comes to this conservatives mind. The previous administration would say, whoever wants a job, has a job. I'm sorry, but choosing to collect welfare, heating assistance, food stamps, and all the rest, even free cell phones, is no longer a career choice.
Better accountability to these types of programs will save US Taxpayers Billions. When these programs get trimmed? More Billions saved.
There'll be cuts in spending to many of these bloated and abused social programs. People will have to get off there tail, and get a job.
I know of people who abuse it. It's not intended to be an alternative to working.
It has been mentioned Trump wants to cut into Medicare, Medicaid and Social Security due to the large deficit.
These numbers and notions you write of mean nothing compared to the numbers and notions of those running against Trump.
BTW, provide the time, place, and quote of this president saying he'd cut your social security check.
Fake News doesn't count either.
"The national debt grew by 15% through February 11 of Clinton's first term and ended up growing by 36% by the end of the 2000 fiscal year, the final full fiscal year of his presidency."
"Under Obama's first two years and change, the national debt grew by 33%, and it grew by 84% by the end of the 2016 fiscal year."
"The debt grew 10% in Trump's first 752 days and is projected to grow by 44% by the end of the 2024 fiscal year."
Who is doing/did the better job?