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BANKRUPTCIES &DEBT rising in the supposedly great economy

Discussion in 'Political Opinions & Beliefs' started by 61falcon, Aug 11, 2019.

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  1. 61falcon

    61falcon Well-Known Member

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    I suggest everyone read the article in the New York Post, currently available on Drudge, which is highlighting the currently rapidly rising bankruptcy filings across our nation as well as the ballooning household debt.Household debt is at a record nearing $14 TRILLION this includes mortgages and student loans,this is higher than in the 2008 recession,credit card debt alone is $1 TRILLION which is also higher than in 2008.This should not be happening if economic times were as great as the administration paints them.Bear in mind we also have record closures of retail stores, anticipated to reach 12,000 closures this year.
     
    61falcon, Aug 11, 2019
    #1
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  2. 61falcon

    61falcon Well-Known Member

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    No interest in our nations shortcomings??
     
    61falcon, Aug 11, 2019
    #2
  3. FreshAir

    FreshAir Well-Known Member Past Donor

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    Bush told us the economy was doing great right up till it crashed, the Bush admin will do the same

    what Trump hopes is that it wont crash until after he is voted our in 2020, so he can blame it on dems
     
    Last edited: Aug 11, 2019
    FreshAir, Aug 11, 2019
    #3
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  4. squidward

    squidward Well-Known Member

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    Dude, that was Obama's economic plan for 8 years. Debt, debt and more debt.
    You should be applauding your success
     
    squidward, Aug 11, 2019
    #4
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  5. bradt93

    bradt93 Well-Known Member

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    When Trump is reelected in 2020, you will have another 4 more years to whine, you all have no policies, but to call people "white supremacists" Pathetic.
     
    bradt93, Aug 11, 2019
    #5
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  6. bradt93

    bradt93 Well-Known Member

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    My question is when did the dems start hating whites?
     
    bradt93, Aug 11, 2019
    #6
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  7. Lee Atwater

    Lee Atwater Well-Known Member Past Donor

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    Just wondering why you keep repeating the meme about Dems having no policies when it's completely untrue?
     
    Lee Atwater, Aug 11, 2019
    #7
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  8. therooster

    therooster Banned

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    Why you rootinh against America?
     
    therooster, Aug 11, 2019
    #8
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  9. kvmj

    kvmj Well-Known Member

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    If Trump is reelected, I'll cry. The US cannot survive another 4 years of Trump.
     
    kvmj, Aug 11, 2019
    #9
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  10. squidward

    squidward Well-Known Member

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    When they decided to **** their party.
    Already lost them 2016.
    Now they're workin on 2020
     
    squidward, Aug 11, 2019
    #10
  11. squidward

    squidward Well-Known Member

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    Well other than free **** for everyone
     
    squidward, Aug 11, 2019
    #11
  12. kvmj

    kvmj Well-Known Member

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    The Dems have concrete, detailed policy proposals. Trump has none other than tax cuts for the rich.
     
    kvmj, Aug 11, 2019
    #12
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  13. Jimmy79

    Jimmy79 Banned

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    Really? What are they?
     
    Jimmy79, Aug 11, 2019
    #13
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  14. 61falcon

    61falcon Well-Known Member

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    You mean Obamas economy is just having it's effects now in the third year of Dirty Donalds tenure????GET REAL!!!
     
    61falcon, Aug 11, 2019
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  15. Chuck711

    Chuck711 Well-Known Member

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    Facts say otherwise :

    Under President Obama the federal deficits were lower than Trumps in spite of rescuing the economy from the Great Recession

    The Federal deficits were over $1 trillion per year for four years and got below Bush’s last years deficit in fiscal 2015.
    It continued to decrease until Obama’s last year and has increased in Trump’s first year in office.
    This year Trump is now borrowing of a Trillion $

    In spite of a good Economy !!

    Trumps Tax cuts for the rich are being paid for by future middle class and poor Americans

    • Fiscal 2007: $161 billion (next to last year of Bush’s second term)
    • Fiscal 2008: $459 billion (beginning impact from the Great Recession)
    • Fiscal 2009: $1.4 trillion (Obama’s first year and in the teeth of the Recession)
    • Fiscal 2010: $1.3 trillion
    • Fiscal 2011: $1.3 trillion
    • Fiscal 2012: $1.1 trillion
    • Fiscal 2013: $680 billion
    • Fiscal 2014: $485 billion
    • Fiscal 2015: $438 billion
    • Fiscal 2016: $587 billion
    • Fiscal 2017: $666 billion (Trump’s first year of his Presidency)
     
    Chuck711, Aug 11, 2019
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  16. squidward

    squidward Well-Known Member

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    The topic was personal debt.
    Sorry for your inability to read
     
    squidward, Aug 11, 2019
    #16
  17. 61falcon

    61falcon Well-Known Member

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    Four more years of this and the country will be up Shits creek without a paddle
     
    61falcon, Aug 11, 2019
    #17
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  18. Chuck711

    Chuck711 Well-Known Member

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    Chuck711 said: ↑
    Facts say otherwise :

    Under President Obama the federal deficits were lower than Trumps in spite of rescuing the economy from the Great Recession

    The Federal deficits were over $1 trillion per year for four years and got below Bush’s last years deficit in fiscal 2015.
    It continued to decrease until Obama’s last year and has increased in Trump’s first year in office.
    This year Trump is now borrowing of a Trillion $

    In spite of a good Economy !!

    Trumps Tax cuts for the rich are being paid for by future middle class and poor Americans

    • Fiscal 2007: $161 billion (next to last year of Bush’s second term)
    • Fiscal 2008: $459 billion (beginning impact from the Great Recession)
    • Fiscal 2009: $1.4 trillion (Obama’s first year and in the teeth of the Recession)
    • Fiscal 2010: $1.3 trillion
    • Fiscal 2011: $1.3 trillion
    • Fiscal 2012: $1.1 trillion
    • Fiscal 2013: $680 billion
    • Fiscal 2014: $485 billion
    • Fiscal 2015: $438 billion
    • Fiscal 2016: $587 billion
    • Fiscal 2017: $666 billion (Trump’s first year of his Presidency)

    My response was to :

    squidward said: ↑
    Dude, that was Obama's economic plan for 8 years. Debt, debt and more debt.
    You should be applauding your success

    So please follow closer ...............
     
    Chuck711, Aug 11, 2019
    #18
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  19. struth

    struth Well-Known Member

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    Yeah when Obama and the left had he feds take over student loans we easily could have saw this happening.

    It was a pay day and been a field day for dem donors at places like Harvard where Prof warren was about to charge half a million dollars for two classes
     
    struth, Aug 11, 2019
    #19
  20. garyd

    garyd Well-Known Member

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    Trouble is almost all of them make things worse rather than better.
     
    garyd, Aug 11, 2019
    #20
  21. Jestsayin

    Jestsayin Well-Known Member Past Donor

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    May I suggest Mexico?
     
    Jestsayin, Aug 11, 2019
    #21
  22. 61falcon

    61falcon Well-Known Member

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    But no response to the actual post and it's topic???
     
    61falcon, Aug 11, 2019
    #22
  23. garyd

    garyd Well-Known Member

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    Actually a good economy will produce more bankruptcies not fewer. It encourages people to take chances they shouldn't take or make careless investments under the assumption that because the economy is good everything is good. The economy being good does not mean that your under capitalized small business is any less under capitalized. I'd also like to know how many of these bankruptcies are restaurants that went south because of the 15 dollars an hour minimum wage.
     
    garyd, Aug 11, 2019
    #23
  24. squidward

    squidward Well-Known Member

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    The poster I responded to was commenting on the amount of corporate, consumer and student loan debt and how it has killed the economy.

    Please read before you flap
     
    squidward, Aug 11, 2019
    #24
  25. squidward

    squidward Well-Known Member

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    Why, taking on huge amou ta of new debt after an implosion caused by too much debt, driving up the price of all asset classes and consumer goods was hailed as economic success during the last admin. Why the sour puss now?
     
    squidward, Aug 11, 2019
    #25
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