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Accuracy, eh, accuracy

That deficit spending has been high of late. Covid has boosted it, significantly. Before that $7.8 trillion was added to the total during Trump’s period in office: a record sum, of course. Most of that went to fund tax cuts for the wealthiest people and companies in the USA.

Well, you know, sorta, Covid hit in 2020.

Deficit in 2020 was $3.3 trillion. $2.43 trillion summed for the 3 years before that. Actually, except for that covid year, about the same as Obamas’s second term. Sorta, around.

Agreed, I’m counting deficits, not national debt, but still. Not exactly showing us that it was all non-covid tax cuts now, is it?

2 thoughts on “Accuracy, eh, accuracy”

  1. Surely giving people printed money pays for itself, doesn’t it? I mean its what happens when you give nurses a pay rise of 20%, or so I’m told by a BBC endorsed economic ‘expert’…………

  2. Jim

    You beat me to it – I also thought that the creation of money is simply adding numbers on a computer and has no impact on the underlying inflation rate? So why worry about the deficit – simply feel the width?

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