Are you kidding?
It's something the bullshit swallowing sheep will gobble down, BUT, it's wildly inaccurate.
"The media has not reported that the National Debt
in my first month went down by $12 billion vs a $200
billion increase in Obama first mo[nth]," tweeted Trump.
in my first month went down by $12 billion vs a $200
billion increase in Obama first mo[nth]," tweeted Trump.
The tweet, which echoes something Herman Cain said
on Fox News' Fox & Friends an hour before, doesn't
make sense for many reasons.
on Fox News' Fox & Friends an hour before, doesn't
make sense for many reasons.
First, it is true that the debt has probably ticked down
but as noted by the Atlantic's David Frum, this is mostly
due to the federal government rebalancing its
intra-governmental holdings. Debt outstanding to the
public has barely budged since Inauguration Day.
but as noted by the Atlantic's David Frum, this is mostly
due to the federal government rebalancing its
intra-governmental holdings. Debt outstanding to the
public has barely budged since Inauguration Day.
Additionally, the federal government is still operating
under the budget passed before Trump came into office,
so even if the overall debt decreased, his administration
had nothing to do with it.
under the budget passed before Trump came into office,
so even if the overall debt decreased, his administration
had nothing to do with it.
Finally, and most importantly, the economic circumstances
during his and Obama's first month in office are vastly
different and make the comparison totally off base.
during his and Obama's first month in office are vastly
different and make the comparison totally off base.
When Obama took office in January 2009, the country
was in the midst of the worst financial crisis since the
Great Depression, thanks to the Republicans. The US
economy lost 702,000 jobs in February 2009 and
832,000 in March 2009, GDP growth collapsed, and
foreclosures soared. It took many years to repair the
damaged economy.
was in the midst of the worst financial crisis since the
Great Depression, thanks to the Republicans. The US
economy lost 702,000 jobs in February 2009 and
832,000 in March 2009, GDP growth collapsed, and
foreclosures soared. It took many years to repair the
damaged economy.
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