What actually caused the National Debt that we now pay $800-billion in interest on? What actually caused the $1 Trillion deficit we are currently experiencing?
1. The Bush-era Taxcuts
2. Two unfunded wars (Iraq and Afghanistan)
3. Continually increasing military budgets to the level of absurdity over the past 20-years (and no, Military aid to Ukraine doesn't actually count here because most of that was surplus stockpile that was going to cost us $ to decommission anyways).
4. Trump (2016) Taxcuts.
The four things are the major contributors to both the Debt AND deficit. And no, it goes much further back than the past 10-years. It goes back to that 2000s era of Taxcuts that turned Bill Clinton's surpluses into deficits. And if you want to play the conspiracy theory game, it's all by design of ONE political party so they could justify cutting Social Security instead of doing the sensible thing, which everyone knew in the 1980s we should do to solve Social Security, which is eliminating the cap on taxable personal income.
I'm so sick and tired of people lying about this. It's not a mystery as to where this debt and deficit came from. It's from cutting taxes into oblivion, and running up the charge card on military spending. Period Fullstop. It wasn't spending on education, or food stamps, or national park funding, or NASA, or the EPA (etc...etc...etc). It was taxcuts and military spending.
Yes, we should have been able to spend stimulus money in a lifetime of a Pandemic to keep people in homes and to keep the economy from free falling into a depression. You know, basic crap governments are like supposed to do. But no, a segment of this country decided it was better to give free handouts to the wealthiest people in the country at the expense of the future.