370
US debt set to soar above Italy and Greece after Trump’s ‘big, beautiful bill’
(www.theguardian.com)
this post was submitted on 27 Oct 2025
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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.
Yeah, it wasn't actually balanced as in not spending more money than being made. It was balanced as it was no longer accelerating. Like instead of taking on $2000 of debt when you took out $1500 in debt last year, you only took out $1500 more debt this year. So the debt was still increasing, just not faster than before. (Which is fine still as long as the money being borrowed is making more money than what you borrowed it at.)
Uh...W made a huge deal about giving back the surplus with those tax refund checks. Sent everyone a picture of him and his wife along with it. You don't do that over "smaller deficit"
Yeah but a republican might. You have to understand that they're ideologically opposed to the government having and using money. Even in places they demand government attempt to turn a profit like USPS and Amtrak (which I'm theoretically not opposed to them doing if they provide vital services at a good price and quality) it's with the ultimate goal of spinning them off into private companies
But my point is, we DID HAVE A SURPLUS. For about 4 years. Then W gave it away THEN started multiple trillion dollar two decades long wars