While the European countries have brought their spending under control, the US president’s tax cuts and defence spending will lead to increased borrowing
As I recall, there were some fiscal shenanigans with that, which led to the budget looking balanced/with a surplus but it wasn’t exactly that way. Something about kicking some debt into future years.
But still, your point is still good. We were far better fiscally then than we are now. It’s pretty horrifying to see how far we have gone off track over the last 25 years. Especially since the ‘party of fiscal responsibility’ was the one that send to have caused the majority of that debt.
Remember when the Clinton administration balanced the budget? And then we actually had a surplus for a few years?
As I recall, there were some fiscal shenanigans with that, which led to the budget looking balanced/with a surplus but it wasn’t exactly that way. Something about kicking some debt into future years.
But still, your point is still good. We were far better fiscally then than we are now. It’s pretty horrifying to see how far we have gone off track over the last 25 years. Especially since the ‘party of fiscal responsibility’ was the one that send to have caused the majority of that debt.