Paradigm shift needed
A paradigm shift is needed.
The acceleration of our national debt started with Ronald Reagan when he and the Republican Party decided to buy votes and reelection by giving the wealthy tax cuts from 70% to 28% and loopholes to hide their money. This was followed by Bush, Bush, and Trump. Reagan increased the national debt 100 times greater than all of the presidents before him, jumping the debt $1.86 trillion, and 5,422 times greater than Truman, Johnson, and Carter combined.
Trump ended his presidency increasing the debt $7.8 trillion more than the debt of Bush, Bush, and Clinton combined. They used Reaganomics, getting the myopic middle class to accept the trickle-down economic theory that only works for the rich. Starting with Reagan, $50 trillion has been transferred from the middle class to the top 1%, dropping 42 million of the middle class into the lower class. This $50 trillion is a stack of dollars 3,393,300 miles high (15.5 trips to the moon). In this transfer, the GOP sent 60,000 U.S. factories and 10 million jobs to other countries.
When Republicans are in control, they spend money without control and cut taxes for the rich, all to intentionally run up the U.S. debt as far and as fast as possible. This started with the Reagan presidency, and then Bush and Trump. Massive tax cuts and uncontrolled spending during Republican presidencies produced three results: they stimulated the economy with a false sugar high, making people think that the GOP can produce a good economy; they raised the national debt dramatically with 100% tracks back to Reagan’s, Bush Jr.’s, and Trump’s massive tax cuts and Bush’s two illegal wars; and they made people think that Republicans were the “tax-cut champions.”
The second part is when a Democrat is in the White House, Republicans scream about the national debt as loudly and frantically as possible, freaking out about how “Our children will have to pay for it!” and “We have to cut spending to solve the crisis!” The “debt crisis,” that is, the one they themselves created with their massive tax cuts and wild spending. (Thom Hartmann Nov. 18, 2022).
The Republicans created the national debt, and it would not exist if the wealthy, that now controls the politicians, the supply, and demand, were paying taxes rather than enjoying massive tax cuts, loopholes, and hiding money in offshore accounts. Those that are not part of the solution are part of the problem.
Jerry Davis Hot Springs