Quote Originally Posted by walrus View Post
If Kirkland knew what he was talking about he would bring up the true possible economic disaster with our fed raising rates and that is interest paid on the national debt. As the rates goes up, so does the interest we pay on our 20 trillion dollar national debt you know, the one Obama’s campaigned on saying it was an outrage when it was around 9trillion when Obama took office. Thanks Barry.
Every Democratic president since before Reagan has reduced the deficit, in Obama's case by a dramatic percentage despite inheriting the greatest economic collapse since the Great Depression. Every Republican president since Reagan has dramatically increased the deficit. Reagan trebled the national debt. Trump has slashed taxes (with nearly 90% of the tax cut going to the top 1%, the lowest 25% of earners get a $60 a year tax cut, Warren Buffeet got $30 billion) and is now running trillion dollar deficits in the middle of an economic expansion.

Let's see what you actually know about debt and deficits and this potential great disaster for America. This could be a teachable moment. Have a look at the graph.





Firstly, how come America is paying much less in interest on the debt compared to the end of the nineties, a time when Bill Clinton and the Democratic congress turned a then record deficit inherited from the GOP into an actual surplus with the entire national debt projected to be paid off by 2010, at a time when the current guy is running trillion dollar deficits in the middle of an economic expansion?